Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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So interest rates have fallen again.
Hmmm, my first reaction is to start quoting the “shrinkage” part from “The Hamptons” episode from Seinfeld.
For those who aren’t Seinfeld fans – yes it is hard to believe but they do exist – below is the relevant segment of the script.  I have also included a synopsis of the complete episode for the unenlightened among you.
 
<hr>
 
George: Well I just got back from swimming in the pool.  And the water was cold…
Jerry: Oh… You mean… shrinkage.
George: Yes.  Significant shrinkage!
Jerry: So you feel you were short-changed.
George: Yes! I mean, if she thinks that’s me she’s under a complete misapprehension.  That was not me, Jerry.  That was not me.
Jerry: Well, so what’s the difference?
George: What if she discusses it with Jane?
Jerry: Oh, she’s not gonna tell Jane.
George: How do you know?
Jerry: Women aren’t like us.
George: They’re worse!  They’re much worse than us, they talk about everything!  Couldn’t you at least tell her about the shrinkage factor?
Jerry: No, I’m not gonna tell her about your shrinkage.  Besides, I think women know about shrinkage.
George: How do women know about shrinkage?  (They see Elaine walking down the hall) Elaine! (She enters)  Do women know about shrinkage?
Elaine: What do you mean, like laundry?
George: No.
Jerry: Like when a man goes swimming… afterwards…
Elaine: It shrinks?
Jerry: Like a frightened turtle!
Elaine: Why does it shrink?
George: It just does.
Elaine: I don’t know how you guys walk around with those things.
“The Hamptons” (Episode 85/Season 5):  Jerry and the gang go to the Hamptons for the weekend to see their friend’s baby.  George gets upset when he realizes that his date went topless on the beach.  In exchange for Jerry having seen her breasts, George wants to see Jerry’s date naked.  Instead, Rachel walks in on George undressing after a swim, and she witnesses his post-swim “shrinkage”.  Jerry and Elaine are shocked to discover how ugly the baby is, and Elaine becomes especially confused when the handsome Dr. Pfeiffer describes both her and the baby as “breathtaking.”  Kramer finds a filled lobster trap.
 
<hr>
 
 
So I guess I have three things to say.
Firstly, beware of what you are doing, RBA, you just might frighten us into economic “‘shrinkage”.  You know, the “paradox of thrift” and all that jazz.
Secondly, despite what some economists think, confidence will not be restored by a few interest rate tweaks.  We need to go to an election (and two in Queensland) before we get our pep back.
And finally, at least this interest rate commentary is half interesting!
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

The RBA should be wary of economic 'shrinkage'

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Victoria is leading a national increase in medium-density approvals, home to two-thirds of medium-density home approvals across Australia over the past year, according to the latest report by Bankwest.
Over the last year 38% of national home approvals were for medium-density dwellings, up from 31% five years ago.
Victoria has the most, with 21,235 approvals, 36% of the national total of 59,276. This is closely followed by NSW at 16,397, which represents 28%, and Queensland at 10,300, which represents 17%.
“Melbourne might be considered the café capital and this is helping to fuel demand for city living. says Bankwest retail chief executive Vittoria Shortt.
“Factoring in affordability, a tight rental market and lifestyle choices it is not surprising to see a trend towards higher density living.”
The Australian Capital Territory has the highest percentage of approvals, with 66% of all approvals being medium density, followed by the Northern Territory at 57% and New South Wales at 49%.
ACT also grew the most over the five years, with a 23 percentage point increase over the five years.
Perth was the only state capital where the share of medium-density approvals didn’t increase. Shortt puts this down to rising incomes and land availability combined with an outdoors lifestyle.
“With gen Ys entering the market looking at the inner city as a preferred location, coupled with baby boomers that are starting to downsize, this trend towards medium density looks set to continue,” says Shortt.
The trend is predominantly taking place in capital cities with 77% of medium density approvals taking place in the city. <img src="/images/stories/tugg.gif">
Source: Bankwest 
ACT’s Tuggeranong took the guernsey for the biggest turnaround. In the 2006 census just 12% of dwellings were medium density but in the last five that has increased to 74%.
Five out of 10 suburbs with the most densification were in the ACT.
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awalsh-7Ub9EypybQ

Victoria leading surge in medium-density housing: Bankwest

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Westpac chief economist Bill Evans says European concerns weighed heavily on the minds of the Reserve Bank board members in their decision to cut the cash rate by 25 basis points to 4.25%.
Evans says a big difference in the <a target="_blank" href="https://www.propertyobserver.com.au/economy/slowing-global-growth-subdued-credit-growth-factors-in-rate-cut-glenn-stevens/2011120652696">December monetary policy statement</a> compared with that made in November are to do with “global developments, specifically around Europe”.
“Whereas in November the governor referred to European governments ‘making progress’ he now talks about ‘still seeking to craft a full response’,” Evans says.
“He also introduces the important dimension of financing conditions referring to them being ‘much more difficult’ and indeed does not only refer to European entities but also talks about for Australia ‘term funding conditions have become more difficult’.
“He concludes that there is now ‘the likelihood of a further material slowing in global growth has increased’. We also see specific recognition of the reversal in commodity prices which not only reflects weaker global but also takes some further pressure off inflation.”
In addition to the comments about Europe, Evans says the key reasons behind the move were also consistent with the bank’s observations.
“The statement by the governor had many similarities with the statement on November 1, when he outlined the reasons for the decision to cut rates from 4.75% to 4.5\%. This covered issues such as: China's growth slowing as intended; a moderation in the pace of global growth; Australia's growth around average levels; strong investment in the mining sector; cautious behaviour by households; unemployment close to 5%; wage pressures easing; and of course inflation likely to be consistent with the 2 to 3% target in 2012 and 2013.”
Evans says Westpac remains comfortable with its July forecast that the easing cycle would cover 100 basis points, with the last rate cut being around the middle of 2012.
“We are comfortable maintaining that view and see nothing in this statement to suggest that the bank rules out any further adjustments.
“Indeed we do not expect to see developments, either global or domestic, over the course of the next three months that would allay the concerns which have clearly motivated the bank's recent two decisions. We would expect the next move to be February being a 25-basis-point cut to be followed a further reduction in May,” he says.
ANZ also forecast the RBA to cut rates today.
Katie Dean, head of Australian economics at ANZ Research, says the bank now expects the RBA to cut the cash rate by a further 25 basis points, to 4%, at the February 2012 board meeting.
“With global risks likely to remain heightened (and still potentially worsen), the Australian price pressures well contained, and domestic unemployment still likely to head higher, we see little risk that domestic inflation will be ignited by the further boost to growth afforded by another modest monetary policy easing,” she says.
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lschlesinger-FZcF9M3vE6

Europe concerns weighed heavily on RBA: Westpac's Bill Evans

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At its meeting today, the board decided to lower the cash rate to 4.25%, effective December 7, 2011.
Growth in the global economy has moderated this year after a strong performance in 2010. Some of the slowing reflected temporary factors, and as these passed, the pace of expansion in the United States and much of Asia began to pick up around mid year. China's growth has been slowing, as policymakers there had intended. Trade in Asia is now, however, seeing some effects of a significant slowing in economic activity in Europe.
The sovereign credit and banking problems in Europe, to which European governments are still seeking to craft a full response, are likely to weigh on economic activity there over the period ahead. Financial markets have experienced considerable turbulence, and financing conditions have become much more difficult, especially in Europe. This, together with precautionary behaviour by firms and households, means that the likelihood of a further material slowing in global growth has increased. Commodity prices have reflected this, declining further over recent months and taking pressure off CPI inflation rates. This has increased the scope for some easing in monetary policy in a number of countries.
Information about the Australian economy suggests output growth has been close to trend, with demand growth stronger than that. The terms of trade have now peaked and will decline somewhat in the near term, but they remain very high. In response, investment in the resources sector is picking up very strongly, with much more to come. Some related service sectors are enjoying better-than-average conditions. In other sectors, changed behaviour by households and the high exchange rate have had a noticeable dampening effect. The unemployment rate has increased a little since mid year, though it remains close to 5 per cent.
CPI inflation on a year-ended basis remained above the target at the latest reading, due to the effects of weather events last summer, but is now starting to decline as production of key crops recovers. Moreover, with labour market conditions now softer, the likelihood of a significant acceleration in labour costs outside the resources and related sectors in the near term has lessened. Accordingly, the Bank's current judgement is that inflation is likely to be consistent with the 2–3 per cent target in 2012 and 2013, abstracting from the impact of the carbon pricing scheme.
The reduction in the cash rate as a result of the Board's previous decision flowed through to lending rates, which are now around their average level of the past 15 years. Short-term market interest rates have tended to decline a little further in recent weeks, though term funding conditions for financial institutions have become more difficult. Credit growth remains subdued and asset prices have declined further over recent months. The exchange rate has been quite variable over the past few months, but remains at an historically high level.
Overall, the board concluded, on the basis of all the available information, that the inflation outlook afforded scope for a modest reduction in the cash rate. The board will continue to set policy as needed to foster sustainable growth and low inflation over time.
<a target="_blank" href="https://www.rba.gov.au/media-releases/2011/mr-11-28">Statement by Glenn Stevens, Governor: Monetary Policy Decision</a> 
 
 
 
 
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Slowing global growth, subdued credit growth factors in rate cut: Glenn Stevens

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The Reserve Bank has cut the official cash rate to 4.25% following its December monetary policy meeting.
The decision will be particurlarly welcomed by the depressed parts of the economy including the housing sector, construction and retailing, <a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-body-says-50-basis-point-cut-necessary-to-restore-sector-as-retail-crosses-fingers-for-rate-cut/2011120552672">which were hopeful of some assistance prior to Christmas</a>.
The rate cut, provided it is passed on by the banks, should help stimulate the housing market and demand for mortgages.
The Melbourne Cup Day rate cut (0.25%) <a target="_blank" href="/news">helped drive an 18.4% increase in mortgages processed by AFG mortgage brokers</a>.
Before the announcement, the dollar was trading at around $1.027. Since the announcement it dropped to $1.02.
 
 
 
 
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Relief as RBA cuts rates by 25 basis points

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The increasing number of properties available for sale in November will put more downward pressure on house prices, according Louis Christopher, managing director of SQM Research.
According to SQM Research calculations,  stocks increased by 1.5% in November to 388,848 nationally, with an additional 5,631 properties available for sale.
At the current level of stock, Christopher says the market is now “generally considered to be oversupplied” meaning it is easier to find properties to purchase, reducing demand and competition.
Christopher says national stock on market figures are “undoubtedly edging closer to levels reached in late 2008 – a period where house price falls were recorded in many parts of the country”.
House prices started falling back in the September quarter of 2010 when stock levels were at a much lower 307,000.
“Much still depends on the events on Europe. A credit squeeze event would certainly postpone any recovery here and would cause a continuation of the current price declines right through 2012. Certainly for now it means those who are buying in this market are taking a bet on Europe.”
<img src="/images/stories/sqmdec6.gif">
Source: SQM Research
The only capital cities to experience monthly declines in stock levels were Brisbane and Darwin, falling by 0.1% and 0.5% during the month of November and coming to a total of 30,205 and 1,575 respectively.
The capital city to experience the largest monthly growth in listings was Canberra, climbing by 5.9% during the month of November and coming to a total of 2112.
Over the past 12 months to November, the stock of listed properties up 16.7% with the biggest rises in Hobart (47.9%), Melbourne (47.2%), Canberra (21.5%) and Adelaide (21.3%).
Sydney listings are up 16% for the year with Perth the only major city to experience a decline in listings over the past year, down 0.8% to just over 20,000 listings.
 
 
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Increase in listed properties will drive property prices down further: SQM

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Investors have responded favourably to management of the Charter Hall Office REIT conditionally accepting a higher takeover proposal from an international investor consortium made up of Reco Ambrosia Pte Ltd (an affiliate of the Singapore Investment Corporation Pte Ltd) and the Public Sector Pension Investment Board of Canada.
Charter Hall Office REIT shares resumed trading this morning after being suspended at close of trading on Thursday , jumping nearly 5% in the first half hour to $3.58 (from $3.42 a share).
Under the privatisation proposal, shareholders will receive $2.49 per share; 6¢ more than the revised October 5 offer $2.43 and 10¢ up on the $2.39 per share) offered on August 29 for the $1.5 billion Australian office portfolio.
The revised offer represents a 4.2% discount to net tangible assets of $2.60, up from the 9.1% discount in the original August offer and values the trust at around $1.88 billion.
The Charter Hall Group, which owns 15% of the office REIT (equating to $141 million) says it will join the consortium subject to final documentation being agreed and executed.
Shareholders will remain entitled to net proceeds and accrued earnings from the sale of the US portfolio, which is currently underway.
Under the agreement, the current Charter Hall management team will retain control of the office trust, a condition to the proposal proceeding to implementation.
In July the current management of Charter Hall Office REIT saw a challenge from a consortium of US hedge funds to replace it with a team from Bill Moss Capital Management and liquidate the trust.
Other conditions that need to be met include implementation of an implementation agreement by December 22 and is subject to the consortium completing a satisfactory due diligence of the trust and its assets.
Should all go according to plan shareholders will meet in March to consider the proposal.
Roger Davis, independent chairman of the Charter Hall Office management, says that in the current environment of instability of capital markets both locally and globally, the new offer is the most “compelling and “certain value proposition” for the trust.
 
 
 
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Charter Hall share price jumps as trading resumes

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Median apartment rents in Canberra reached record levels during 2011, according to new research by Colliers International.
The median rent for a two-bedroom apartment hit $440, the highest rent to date for Canberra.
“This is great news for anyone who owns a rental property or is thinking about investing in any of the great medium-density developments that will be coming onto the market in 2012,” says Colliers International state chief executive Paul Powderly.
He put the increase down to the low vacancy rates of just 1.6%, the second lowest in Australia. The national average is 3%.
“Canberra is fortunate to have low unemployment, high average weekly earnings and a growing population, and these factors have contributed to the rise in rental returns.”
He says this is also affecting property prices in Canberra.
“The latest RP Data-Rismark data shows we were the only market to record an increase in home values in October, and unit values rose 8.3% during the month, compared to a 0.7% lift in house values.”
Powderly says pundits are predicting that November’s interest rate cut will lead to an even greater increase in activity in the property market next year.
From January to September 2011, 67% of dwelling approvals were for medium-density dwellings.
In November Property Observer <a href="https://www.propertyobserver.com.au/residential/canberrans-moving-in-closer-together-as-medium-density-living-on-the-rise/2011111652326">reported that units represented 44% of the Canberra real estate market.</a>
Between 2012 and 2014 potentially 2,600 new apartments will be released in the inner north and south, according to the report, but Powderly does not expect an oversupply.
“Based on the figures released this week I expect there will be strong investor and owner-occupier demand for these new properties.”
“The other safety net is that developers have to obtain high levels of pre-commitments in order to secure financing, so these projects will only go ahead if there is a demonstrated market for them.”
 
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Canberra median unit rent hits record high: Colliers

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Perth is leading growth in the Australian hotel market, which has remained strong this year despite poor performance in the Australian tourism sector, according to the latest report by Deloitte.
Hotels were buoyed by increased business travellers as the strong Australian dollar put tourists off.
The overall RevPAR (revenue per available room) is forecast to increase 6% to $94 in 2011 and to $101 in 2012.
In Sydney occupancy rates will finish at 86% despite the opening of the 171-room The Darling in Darling Harbour and the addition of 247 rooms to Meriton’s new Haymarket property.
The expected RevPAR of $163 in Sydney is up 8.7% from 2010. Room rates are expected to grow 10.5% in 2012.
Melbourne is expected to have 80% occupancy rates for 2011 with room rates projected at $181, 4% higher than 2010 rates. In 2012 Melbourne room rates will hit $195 with room occupancy expected at 81.3%, pushing RevPAR up 10%.
Brisbane has had a flurry of building activity, with Meriton marketing 150 short-stay units in its new Riverside Soleil, the Infinity building on Herschel Street expected to follow suit after opening in 2013, a 368-room project on Elizabeth Street to be announced soon, a new 216-room project on Mary Street opening as soon as 2013 and the proposed 400-room Tabcorp hotel at the State Library opening in 2015.
This means a lower occupancy rate for 2011 in Brisbane, and RevPAR is expected at 6.5% for 2011 and reaching 10.7% in 2012.
Perth occupancy rates of 84.5% are expected for 2011 with an 11% growth in room rate to $174. This makes Perth the fastest-growing hotel market in the country, with an expected year-end RevPAR improvement of almost 14% over 2010.
Perth RevPAR is expected to grow 18.6% in 2012 driven by an expected 17% growth in room rate.
“Whilst occupancies are at record levels, development of new accommodation facilities remains difficult in Perth, though recently announced government incentives may see the initiation of some much needed new hotel rooms being constructed,” the report says.
Adelaide continues to attract development despite it being Australia’s smallest hotel market, with the conversion of the CML building by Adabco Pty Ltd and a proposed Medina Grand near the Treasury building expected to open in late 2013, and the proposed airport hotel and a new hotel by the Hines Group in Grenfell Street expected for 2014.
“The proposed new airport hotel would potentially benefit from a significant uplift in travel once the Olympic Dam project gains approval [and] further additions to supply in the Adelaide CBD are likely to result in lower room occupancy levels and hold back growth in average room rates,” the report says.
Adelaide room occupancies are expected at 73% for 2011 and will continue to drop to 72% in 2012. Average room rates will increase 1.6% in 2011 to $144, growing to $148 in 2012.
Darwin 2011 room occupancies will finish at 72%, up from 70.6% last year.
“This upward trend should continue through the forecast period, with only limited supply additions in sight, being six resort rooms in the Sky City project adjacent to the casino in late 2012, and 96 rooms in the Soho project, aiming for completion in early 2013,” the report finds.
Darwin room rates will grow 6% for 2011 to $149, and a further 8% in 2012 to top $160, Deloitte expects.
There’s trouble in Surfer’s Paradise, with Gold Coast occupancy rates expected at 65.9% for 2011, dropping 2.3% from 2010. The expected year-end room rate is $133, just $1 above the 2010 result.
Gold Coast occupancy rates are expected at 66.7% for 2012 at an average rate of $136, representing a modest 3.4% RevPAR growth.
Tropical North Queensland had modest occupancy improvements, “helped by an absence of new supply and possibly also by troubled operations being forced to close their doors, resulting in a (small) net reduction of available rooms in the market,” the report says.
Occupancy will be at 57.3% for 2011 at an average rate of $117 in Far North Queensland, $2 below 2010. In 2012 occupancy rates are expected to reach 60%, although room rates are not expected to grow much until 2013.
 
 
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Perth leads strong hotel sector: Deloitte

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Last week, The Australian newspaper invited three commercial property experts to respond to the following question: If China's growth story begins to peter out, what will be the impact on Australia's commercial property market?
Those experts included Greg Marr (managing director of DTZ), Tony Crabb (research head of Savills), together with me (as chief executive of Properly Edge Australia).
You can read all three responses, which appeared in Saturday's Weekend Australian. What I've included here below is my contribution to that analysis.
Don’t be misled by the doom-and-gloom merchants peddling a story along the following lines.
"The European crisis is causing sluggish recovery for the US. And together, they are adversely affecting China — as is shown by its annual growth declining from 12.5% per annum in 2008 to its current level of around 9% per annum.
"As Australia depends heavily on China, our economy and therefore commercial property market are at risk. Furthermore, banks are likely to be a squeezed for funds to lend."
Australia's only faint connection with the North Atlantic problems is one of mindset — being when stock markets fall, we generally feel far less optimistic. But you actually need to look a little deeper than that.
This has been deliberately orchestrated to regain control of inflation.
In 2008, China's 12.5% per annum growth contained 3% to 4% of exports to Western countries. Today, its still healthy growth of 9% per annum is being driven by its latest five-year plan — focusing upon internal infrastructure and increased domestic demand for its own output.
Fortunately for Australia, China still requires our natural resources in abundance to underpin its massive domestic expansion plans, over the next decade.
Therefore, the likely impact of the current North Atlantic problems on China will be minimal — likewise for the Australian economy and commercial property.
Australian banks' wholesale (offshore) funding needs are determined by the amount they lend and the deposits they can arise from the domestic market.
Since 2008, the banks have reduced their dependence upon offshore funding by a third — now providing only 20% of their funding needs. In turn, they have raised (from 40% to 50%) their contribution from domestic deposits.
Therefore, with lower credit growth and increased domestic deposits, banks will need to draw far less upon offshore funding over the next 12 months.
Whenever people are confused, they tend to do nothing. But don't allow yourself to be distracted by short-term thinking.
Australia's underlying fundamentals for commercial property and the economy are strong. Supply of office and industrial space is quickly falling through strong demand.
And now is the time to you set yourself up for the next five to six years of stable growth.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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