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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As we look back on 2011, Property Observer is republishing some of our most noteworthy stories of the year.
 
There is an incredible amount of concentration on the state of the world’s economic situation and what it bodes for the average mum and dad investor in our regional location.  However, does anyone really understand all the implications of the data being both reported – and interpreted – by various journalists and economic commentators with pre-conceived ideas of their own?
Let me give you some idea of the range of opinions hitting the papers each week.  A recent article in the UK Telegraph <a target="_blank" href="https://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/" title="Ambrose Evans-Pritchard">by Ambrose Evans-Pritchard</a> – which circulated through Twitter at a rate of knots – suggested the US economy is not only rising, but “within five years or so” America will be well on its way to “self-sufficiency in fuel and energy”. The report makes plenty of other bullish assertions under the premise that the ”American phoenix “ is on the rise once again.   “World power swings back to America” reads the title and indicates a return to prosperity that would no doubt hit the real estate sector (making purchasing US property now a very appealing prospect).
I love reading upbeat reports that offer a sense of certainty and future security – the repercussions have positive effects on the investment market as a whole and give a much-needed sense of hope that we can wave goodbye to the long-winded economic depression shadowing the world’s major players.   However, if you care to investigate a little deeper and read the EIA’s Annual Energy Outlook 2011, you’ll see anything but a bullish review of America’s journey to “self-sufficiency”, with the disclaimer American “estimates of technically recoverable resources and well productivity remain highly uncertain” The report is long, however in short, the “predictions” outlined in Pritchard’s article are a long way from being set in stone and a close read of the “real” statistics in the report makes this woefully clear.  I hope no one acted too fast on the misinformation it contained.
Closer to home we can also read two sides of the coin on the property market.   Chief economist at Commsec  <a href="https://www.propertyobserver.com.au/residential/why-house-prices-should-recover-in-2012-craig-james/2011112152447">Craig James</a> came to the fore recently making the call that 2012 “should” be a year for housing market recovery – the view is widely held by others such as ANZ senior economist <a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/Article/Home-prices-to-recovery-in-2012-report-pd20110117-D7Q28?OpenDocument&amp;src=hp14">Ange Montalti, </a> who claims economic growth will lift prices during the course of 2012.  Figures have also been released from RP Data that show a slowing in the overall downward trend and have therefore been interpreted that we’ve started “to turn the corner”.
However, less bullish predictions come from <a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-could-fall-by-15-in-three-capitals-louis-christopher/2011090651454">Louis Christopher</a>, managing director of SQM Research, who says should rates remain on hold, “by June 2012 home prices in Melbourne, Brisbane and Perth will be as much as 15% below their 2010 peaks”. He’s not alone in his pessimism – Harry Dent and Steven Keen have both warned we’re at the start of an impending crash – not to mention Prosper Australia’s continuous doom and gloom assertions.
So whom do you want to believe?  Well if you have pre-conceived ideas of your own, you’ll take the side that backs your personal perspective.  It’s natural to do so – it’s incredibly hard to be completely subjective about anything.  As the saying goes ‘‘we see and understand things not as they are but as we are'’.  It’s very difficult to lump a one-world outlook on any market and expect to hit the nail on the head like some modern day Nostradamus.  Take China for example, where stringent government regulations have forced a fall in housing demand and subsequently prices. The issue has torn Chinese society in half. On the one side are the home owners who want to see prices continue to rise. On the other are the renters, who not only want house prices to drop – they want them to drop some 50%!  Sounds like <place><country-region>Australia</country-region></place>.
No one’s been immune from the market malaise throughout 2011 – in fact on a par with other years, it’s been a very difficult atmosphere for industry professionals to muddle through.  Turnover is down – In Victoria for example, Valuer-General data shows a drop of some 33% for the June quarter this year, compared with the same time last year.  Buyers have sat on the sidelines perceiving prices may drop further and sellers have needed to meet the market and make some hard decisions. However, assuming the government doesn’t follow China’s example, I have only one outlook for the next year – and the subsequent 10 years following – and no doubt it will be brushed under the carpet by those who think I’m merely spruiking the party line.  Providing we don’t have a catastrophe on monumental proportions (I’m talking earthquakes and tsunamis) – the only way for property to go in 2012 and beyond is up.
Our property market is based on a simple formula – supply vs demand.  Australia is a mere teenager compared with Europe, and we’re growing at a dramatic, unstoppable pace.  Our population growth is higher than that even of <place><country-region>India</country-region></place>. In fact, the only country set to outgrow Australia by 2050 is Saudi Arabia!
Much of this growth comes from Australia’s immigration program aimed at attracting people of working age with the needed skills to benefit our economy. The simple equation is the bigger the population, the bigger the economy. Whether this has a major effect on our wealth as individuals is arguable and indeed doubtful, but what cannot be argued is the overall effect the population boom will have on the housing industry.  Most are trying to squash into areas that are already straining at the seams (our capital metropolitan regions), and the best seats are taken.  No wonder the property market in Australia swings between unsustainable booms followed by periods of negative growth and sharp market corrections – for decades no one has planned effectively for the growth and we’re some 20 years behind the eight ball.
Unlike areas in Europe and the US where first-home buyers are able to move out of the capital cities and feasibly live in locations with a lower median while taking advantage of reliable public transport systems and the decentralisation of jobs, Australia has ensured the bulk of its population and jobs remain confined to inner-urban regions. Therefore, when the market’s not growing, rents are rising and an increasing number of first homebuyers find they’re unable to build up a sufficient deposit to get a foothold into real estate.
This year alone, rents have increased up to (and in some cases beyond) 10.1% in Perth and a more modest 5.9% in Sydney (R P Data).  Affordability is constrained and the market may well experience only marginal growth throughout the course of 2012 – especially if confidence remains on a knife edge due to factors largely out of our control (both at home and abroad.)  However, if interest rates drop further (and the banks pass them on) – logic alone assumes we’ll see a revival of those desiring to pay their own mortgage and not someone else’s!
We’re already hearing from various mortgage brokers that pre-approvals have increased dramatically.  AFG – Australia’s largest mortgage broker – <a target="_blank" href="/news">has recorded a whopping 18% rise in approvals throughout </a> November (mostly from investors and first-home buyers.) This isn’t surprising when you see how hard the banks are working to get business.  ING and City Bank have dropped their one- and three-year fixed rates, and Westpac and CBA are not far behind.  It’s hard to assess at this point how many of those pre-approvals will turn into transactions – and we’re not out the doldrums yet.  However, it’s reasonable to assume once the starting gun fires an air of confidence and certainty into the atmosphere, we’ll see upward pressure on house prices across the board. The only question is how fast those rises will be throughout 2012.
There may be a good proportion of our population who are suffering, but equally so are a large proportion of our population reaping the rewards of a booming economy. This doesn’t mean by any stretch that you can’t lose money through property investment, it simply means that the right property, in the right location, for the right price, will continue to grow as demand grows – if you don’t believe me get a newspaper from 10, 20 or 30 years ago and look at the prices.
It’s true growth in Australian property has to some extent been fuelled by investor speculation along with easier lending conditions; however that speculation is backed by pretty sound fundamentals.  Take away the speculators, and long term you’d still be looking at home buyer demand outpacing supply in the metro regions.  This is why property is such a widely accepted model for long term investment.
As time progresses – like Europe - we’ll see a greater split between those who can afford to purchase and those who can’t. We’ll see a growing number of young adults move into the rental market, or wait until their late 30s and 40s before they purchase. I also suspect we’ll see a change in demographics, with more joint purchases and a greater number of people sharing property as family’s pool funds to ‘afford the dream’.  Less will own their home outright and more will hold the burden of a mortgage.  It’s already started to happen.
As for 2012 – if you’ve been thinking of taking the plunge don’t expect the market to stay this way perpetually.  Pondering whether our housing market will crash is an ongoing debate that will do the rounds for years to come.  The only way to reduce risk when investing in property is to invest in those areas which have the best potential to maintain consistent solid demand.  At the moment there is little to suggest that our population will diminish or demand for property decrease, so the more time you spend worrying about tomorrow is time away taking advantage of today.
Catherine Cashmore is senior buyer advocate for <a target="_blank" href="https://www.elitebuyeradvocates.com.au/">Elite Buyer Advocates</a>. With extensive experience in all matters regarding real estate, Elite Buyer Advocates purchases and negotiates more than $100 million worth of property each year for its clients.
 
 
 
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catherinecashmore-6LXia3pPQj

Barring catastrophe, the only way for property to go in 2012 and beyond is up

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Investors looking for solid returns in commercial property might want to consider Perth. 
According to a new forecast, Perth office space will need to grow by 50% to 2 million square metres by 2020 to meet demand “driven by the state’s new wave of resources projects”. 
The report, Property Demand and Resource Production Growth, prepared by consulting firm ACIL Tasman on behalf of Savills, says the next resource production expansion phase will be unprecedented, with the gross value of high likelihood projects totals some $220 billion “dwarfing” previous expansion phases. 
“Office demand projections based on resource production suggest an annual growth of around 4% in required office space. This implies total demand for just over two million square metres in 2020, an increase of around 50% from current levels.”
<img width="470" src="/images/stories/perthoffices.gif">
Note: Resource production value is measured at 10-year average prices
Data source: Department of Mining and Petroleum WA and ACIL Tasman modelling 
As an example, it points to the announcement of the Gorgon gas project final investment decision as an example that led to noticeable fall in Perth office vacancy rates. 
The Perth office market is already booming, according to a July report by Jones Lang LaSalle, which says Perth is the tightest CBD office market, with vacancy rate just over 5%.
Prime gross effective rents in Perth increased by 3.9% in the second quarter of 2011 and have risen by 11.2% since the trough in the rental cycle was recorded in the third quarter of 2010. 
The Savills- commissioned report notes that while in the past office demand in Perth has been somewhat erratic, “the upcoming investment phase promises to break this cycle and create a substantial and lasting increase in office demand in Perth”. 
The report concludes that committed supply additions will not meet this level of demand, therefore putting upward pressure on office rents. 
Paul Craig, Savills WA managing director, says the amount of projected demand for additional office supply by 2020 “clearly highlights the impending shortage of Perth office supply as WA’s new wave of resources projects come to life”. 
“With an extended period of mining prosperity on the horizon in WA, underpinned by major infrastructure investment, low unemployment levels and population growth surpassing the national average, demand for prime Perth CBD office space will continue to grow and increase pressure on availability,” he says. 
“Obviously, this is great for landlords or anyone representing landlords. Vacancy is already low, is set to tighten further in the next 12 months and then with no new supply committed to proceed from 2014 onwards, rents should continue to climb,” he says. 
Besides pushing up demand for office space, the upcoming extraordinary resources growth phase will benefit the entire Western Australian economy, transforming it from almost solely driven by minerals and energy production to a more integrated economy also driven by technology and knowledge. 
Craig acknowledges that this would not be good news for tenants. 
“There are already limited opportunities and tenants with substantial corporate requirements will struggle to find space, and the cost of renting that space will continue to rise. When new opportunities do arise tenants will have to move quickly to secure them or prepare for a bidding war.” 
Craig says Perth will have to wait for major new developments such as Waterfront, City Link and Riverside to be delivered before there is significant easing in office market undersupply.
 
 
 
 
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lschlesinger-FZcF9M3vE6

Mining boom to push up Perth office rents over next decade: Savills

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<table border="1" cellspacing="0" cellpadding="0" width="322"><tbody>
<tr>
<td width="153" nowrap valign="top">
Suburb
</td>
<td width="69" valign="top">
Postcode
</td>
<td width="101" nowrap colspan="2" valign="top">
Rental yield for houses
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">PEGS CREEK</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
12.2%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">BULGARRA</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
10.4%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">SOUTH HEDLAND</a>
</td>
<td width="69" valign="top">
6722
</td>
<td width="95" nowrap valign="top">
10.1%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">NICKOL</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
10.1%
</td>
<td width="5">
 
</td>
</tr>
<tr>
<td width="153" nowrap valign="top">
<a href="/news">BAYNTON</a>
</td>
<td width="69" valign="top">
6714
</td>
<td width="95" nowrap valign="top">
9.9%
</td>
<td width="5">
 
</td>
</tr>
</tbody></table>
 
Source: RP Data
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cknowlton-QnEa6ntUYP

Top five suburbs with highest yields for houses in the Pilbara: RP Data

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Property valuation firms need to diversify into becoming impartial buyer’s advocates to survive, according to Greville Pabst, chief executive of WBP Property Group.
Pabst says there is push among firms to move from valuation into the advisory space to “help consumers select, buy and invest in good investment-grade property”.
“The whole process of buyer and vendor advocacy is a new arena for valuers to play in,” Pabst tells Property Observer
“People still hang on the words of the estate agent, even though they are acting on behalf of the vendor.
“[On the other hand], a valuer’s backing is completely independent,” he says.
WBP has been building up its advice business in 2011 and will look to grow it further in 2012 and over the next five years.
“We see it as quite a dynamic area over the next few years.”
Pabst says he is still astounded that people will buy a $1 million home in the inner suburbs of Melbourne and Sydney without  seeking any professional advice yet they would never buyer shares or gold bullion without first seeking financial advice.
“People think because they live in a house they are property experts – most people are not getting advice before they invest,” he says.
“In New York, no one buys without engaging a buyer’s agent first.”
His comments follow WBP’s alliance with Queensland-based firm Herriots. 
He forecasts the industry to shrink to just a handful of firms driven by a desire from the major banks to partner with larger, national firms. 
“We are generally going to see more consolidation in the future. At the end of the day the Australian market will be controlled by four or five super groups. It’s no different to any other industry, be it accountancy, retail, banking etc,” he says. 
“The writing has been on the wall for small firms for some time.” 
WBP’s alliance with Herriots will allow it to extend its coverage into Queensland, with the firm already having a strong presence in Victoria, NSW, South Australia and WA. 
“Herriot’s has good regional coverage with 10 branches,” he says. 
The merger will consolidate WBP’s standing among the top five firms in Australia. 
Under the arrangement Herriots will adopt a new name and logo and is known as WBP Herriots QLD from December 1, 2011, with the alliance to provide residential, commercial and specialised property valuations for Australia’s leading mortgage lenders, businesses and thousands of private consumers.
Herriots Property Valuers specialises in both residential and commercial property valuations. 
The valuation industry enduring a tough year following moves by the major banks requiring firms to take on more risk in the event of a loan going bad, <a href="/news">driving up professional indemnity insurance premiums</a>. 
Pabst says this issue has been resolved with the banks looking to forge deeper relationships with the larger valuation firms.
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Valuers must diversify to survive: WBP

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Australian Industry Group chief executive Heather Ridout has been appointed to the board of the Reserve Bank of Australia, and Philip Lowe has been appointed the bank's deputy governor.
The new appointments were announced by Federal Treasurer Wayne Swan and will take effect from February 14, 2012.
Ridout will succeed Graham Kraehe and has been appointed for a five-year term.
Lowe’s seven-year appointment succeeds Ric Battellino, who will retire from the RBA after 39 years in February 2012.
“Mrs Ridout brings to the board both an extensive business background and a strong understanding of public policy. Her understanding of the manufacturing sector in particular will be valuable to the board at a time when different sectors of our patchwork economy face different pressures,” Swan says.
Aside from her role as chief executive of AIG, Ridout also serves on the boards of AustralianSuper Pty Ltd., Australian Super Trustee Board, and the Australian Research Alliance for Children and Youth.
Ridout was quick to acknowledge her appointment, saying it would be an “honour to be appointed to this most important position”.
“I have an abiding interest and commitment to strong and balanced economic policies and to have the opportunity to serve Australia in this role will be a great privilege,” she says.
Swan also praised Lowe and says he will suit his new role.
“Dr Lowe's promotion comes after a very distinguished career at the RBA beginning in 1980. He served as head of financial institutions and infrastructure division at the bank for international settlements between 2000 and 2002, where he published influential work on financial stability matters. Between 2004 and 2009, Dr Lowe oversaw the RBA's work on issues related to financial stability and payments system policy,” says Swan.
He has served as the economic assistant governor since April 2009 and has been the chief economic adviser to the governor and the Reserve Bank board.
 
 
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Heather Ridout joins RBA board

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Centro Retail Australia, the new entity to emerge from the amalgamation of assets and managed funds from the Centro Property Group, has gotten off to a solid start in its first day of trading on the ASX.
The share price closing at $1.74, valuing the company at $2.3 billion, and the share price opened at $1.70.
The new stock bearing the code ‘CRF’ hit a high of $1.825 in earlier trading, with 3.7 million shares changing hands during the course of the day.
It received the green light to commence trading following a four year battle to find a way out of financing problems dating back to the GFC after <a href="https://www.propertyobserver.com.au/industry-news/centro-restructure-gets-final-nod-of-approval/2011120252651" target="_blank">former auditor PricewaterhouseCoopers decided not to appeal a NSW Supreme Court decision </a>in favour of the restructuring plan.
This followed major shareholders and bond holders agreeing to the restructuring of the company and the formation of the new retail fund on November 22 guaranteeing them a pay out of around 5¢ per share.
As part of the restructure, the $2.7 billion owed to Centro’s senior lenders that was due to be paid by December 15 will be cancelled in exchange for substantially all of Centro’s Australian assets and interests being transferred to these lenders.
 
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Centro starts trading anew 

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The Charter Hall Office REIT remains in a trading halt ahead of announcement from a Macquarie Group-led consortium of a revised higher offer for the listed property trust.
Share trading in the REIT was suspended at $3.42 a share on Friday pending the release of an ASX announcement by the trust and will remain suspended until tomorrow morning or until the announcement about the offer is released to the market.
The Macquarie Group-led consortium, which includes the Government of Singapore Investment Corporation, Canada’s Public Sector Pension Investment Board and the trust’s head stock Charter Hall, offered $2.39 per share (equating to $1.74 billion) on August 29 for the $1.5 billion Australian portfolio. (It also offered $1.13 per share for the expected capital return from the sale of US assets.)
On October 5, the consortium raised its offer to $2.43 per share for the Australian portfolio with shareholders entitled to the proceeds from the US assets sale. The improved offer equated to a discount of 4.9% to the gross value of the assets held in the portfolio as of June 30, 2011.
The trust’s independent director committee advised shareholders that the current offer was not adequate and said it would provide the consortium with further due diligence material to assist it in improving its offer.
Earlier this year the REIT’s Charter Hall management team <a href="https://www.propertyobserver.com.au/news/proxy-votes-in-charter-hall-office-reit-battle-line-up-to-reject-takeover-proposal/2011072750930">escaped a bid by a consortium of US hedge funds</a>, which hold 20% of the trust, to replace it with a team from Moss Capital Funds Management.
The Charter Office Hall REIT owns and manages 19 properties in Australia with a combined value of $1.5 billion. Assets include 50% of the Citigroup Centre and No.1 Martin Place in the Sydney CBD and 100% ownership of the Argus Centre and 150 Lonsdale Street in Melbourne.
It is continuing to sell down its US portfolio with a further two offices in New Jersey and Atlanta being sold in recent months reducing its current holding to 12 properties.
 
 
 
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Charter Hall Office REIT trading halted as it awaits higher Macquarie offer

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The housing industry is calling for a 50-point slash in interest rates, saying 25 points wouldn't do the job for the beleaguered sector.

Harley Dale, chief economist at the Housing Industry Association, says although most economist expect a 25 basis point cut, this wouldn't be enough to lift the sector out of the doldrums because the banks might not pass on the full cut.
"We think it would be appropriate to cut by 50 points partly because of the uncertainty and the jolt to confidence that comes from [the cut]," Dale says.
Dale's comments follow official figures showing building approvals fell by nearly 30% in the year to October.
The retail sector, meanwhile, says a rate cut would breathe some life into some weaker areas of the industry, most notably clothing, footwear and department stores, in the lead up to the key Christmas period, which accounts for 40% of annual trade.
"For some retailers it may stave off their financial issues going forward into the new year," Australian Retailers Association executive director Russell Zimmerman says.
The industry expects this year's Christmas sales to be 2.2% higher than last year.
A second monthly rate cut would lift this growth rate a little higher, he says.
"We might not be in the halcyon days of 5%, but we might see an increase of just a little bit more... around half a per cent or so."
The RBA is expected to announce a rate cut to 4.5% tomorrow, on the back of the European sovereign debt crisis, problems in the key sectors of the economy and lowered inflation figures.
But TD Securities head of Asia-Pacific Research Annette Beacher says the central bank should not respond too quickly to pressure for another rate cut.
"Instead, the RBA is in a strong position to voice an easing bias this week, but not deliver another 25 basis point cash rate cut until early 2012 to start the New Year with truly neutral monetary policy for whatever lies ahead," she says.
Beacher expects September quarter economic growth figures, to be released on Wednesday, to be strong.
"We expect another quarterly growth rate of at least 1%, driven by consumption and investment, for annual GDP growth of 2.5%," she said in a statement.
According to an AAP survey of 16 economists, the median market forecast for GDP stands at 1.0% for the September quarter, for an annual rate of 2.1%.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
 
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Housing body says 50-basis-point cut necessary to restore sector, as retail crosses fingers for rate cut

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Ahead of the tomorrow’s RBA interest rate meeting, the major banks are playing down the likelihood of deep rate cuts in 2012 as occurred during the late stages of 2008 when rates fell by 300 basis points in the space of four months.
Westpac and ANZ expect the RBA will cut rates tomorrow from 4.5% to 4.25% with the weak housing sector identified by Westpac as requiring “urgent action”, while the Commonwealth Bank expects the central bank to hold off until February as European concerns ease following the latest budgetary moves in Italy.
NAB expects the RBA to keep the cash rate on hold at 4.5% with a 25-basis-point cut in February although it says the probability of a rate cut in December has heightened.
Less than 15% of economists surveyed by Bloomberg and the Commonwealth Bank expect the cash rate to drop below 4% by the end of 2012, with more than 55% expecting the cash rate to settle between 4.25% and 4.5%.
Consumers appear to be in agreement with economists, with demand for fixed-rate mortgage products – in some cases a whole percentage point lower than lenders’ variable rates – continuing to rise. 
According to November figures from Mortgage Choice demand for fixed-rate loans have reached their highest level since April 2008, accounting for 20% of all new loan approvals up on the six-month average of 16%, the 12-month average of 14% and this period last year, when only 11% of new loans were fixed-rate loans. 
The cycle of fixed-rate cuts has continued, with Heritage Bank today announcing it will cut the interest rate on its three-year fixed-rate products from 6.29% to 5.95% Tuesday, December 6. 
Once again the Reserve Bank will have to way up the global situation and in particurlar Europe against a moderate strengthening in the local economy.
<img src="/images/stories/expected.gif">
Westpac’s chief economist Bill Evans, the only major bank economist to tip a November cash rate cut as far back as August, still expects a further 75-basis-point rate reduction over the course of the current easing cycle, but says tomorrow’s decision is shaping up as a “tough one”.
“It will depend on the degree of urgency with which the RBA views global developments weighed against a policy stance already around neutral; the attraction of waiting to assess these developments; and evidence of an acceleration in mining investment but more weakness in the housing sector. 
“We see the balance of risks favouring another 25-basis-point rate cut,” he says. 
“Our assessment is that conditions have deteriorated significantly in Europe and Asia since the last board meeting on November. 
“Through November we have seen increasing acceptance by both private and public forecasters that Europe will be in recession in 2012. 
On the domestic front, Evans says the “two-speed” or “patchwork economy” is still very much in play, with the housing sector among the weak spots in the economy. 
“While most of the data still pre-dates the November rate cut, there have been no signs of stabilisation in house prices across most capital cities. Indeed, some corrections are now becoming quite advanced,” he says. 
“A particular standout was the very weak October dwelling approvals which contracted by 10.7% in the month including a 7.5% drop in private houses. These figures do point to a greater degree of urgency for RBA action. 
“Clearly there will be a significantly weaker profile in housing construction than we had thought; a 5% to 10% decline could take about 0.3 to 0.5 percentage points off GDP.” 
The release of third-quarter GDP figures a day after the December meeting will be closely watched by the RBA as a guide to future interest rate decisions. 
Westpac is forecasting GDP growth of 1.3% (up from its last forecast of 1.2%) equating to annual growth of 2.4% driven by a 36% spike in infrastructure work, but with housing construction expected to be flat compared with a range of 1% to 1.25% being forecast by the RBA and the Commonwealth Bank. ANZ is forecasting quarterly growth of just 0.7%. 
Commonwealth Bank chief economist Michael Blythe suspects the decision to cut rates in November is a close thing, indicating that “every [monetary policy] meeting is 'live' while the European situation plays out”.
Just four days ahead of the December 6 meeting, Blythe says the bank has pencilled in a February cut but said a December cut is still possible should markets turn sour.
Given the developments in Italy over the weekend with the Italian cabinet adopting $26 billion worth of tax hikes, budget cuts and pension reforms to avoid bankruptcy, from the Commonwealth Bank’s point of a view the chance of a rate cut has eased.
However, Blythe says economist and markets are in agreement that the next move is down, though “opinions differ on how far the easing may go".
“Global issues underpin the rate-cut case. Domestic issues suggest a need for caution,” he says.
Blythe points to RBA forecasts of underlying inflation picking up into the upper half of the 2% to 3% target range as well as national accounts should showing households “are a bit more focused on savings and paying off debt and a bit more cautious about spending”.
“Policymakers have spent a fair amount of time getting households to this point to make room for the mining boom to roll through. They are unlikely to want to jeopardise these changes by overstimulating the household sector. 
“A genuine European implosion would, of course, outweigh these domestic considerations in the policy debate,” he says. 
ANZ has brought forward its forecast of a 25 basis points cut in February 2012 to tomorrow’s meeting.
Ivan Colhoun, head of Australian economics and property research at ANZ, says “a lot still has to go wrong before market expectations for the cash rate to fall to 3% will be met”. 
“Global growth developments therefore support a further moderate easing in the Bank's policy stance, but to date still seem far from the dramatic and extremely negative developments experienced in the second half of 2008,” he says. 
NAB economist Alexandra Knight says the bank expects further easing in the underlying inflation rate in early 2012, but with inflationary pressure picking up over the second half of the year. 
“At this stage we're forecasting a 25bp rate cut to 4.25% in February 2012 to provide some near-term reprieve to interest-sensitive sectors, although this will be data dependant. 
“Given our expectation for higher underlying inflation in 2013, we expect the RBA to reverse any near-term rate cuts, taking the end point back to 4.75%.”
In a note released on October 26, the NAB economics team headed by chief economist Alan Oster said “market pricing, of around 100 points of cuts, is in our view too aggressive”. 
“While it is likely that the RBA will cut again in early 2012 (February), we would caution that that is not a done deal. 
“By then activity will be picking up and employment will be strengthening. Nonetheless, we have tentatively included a February cut in our forecasts very much driven by the near-term inflation outlook – we expect fourth quarter underlying inflation (due late January) to rise a modest 0.6% with the year ended rate unchanged at 2.5%.”
 
 
 
 
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Banks expect rate cut soon, but no 2008-style cutting spree

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<table width="351" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="67">
Postcode
</td>
<td valign="bottom" nowrap width="190">
Suburb
</td>
<td valign="bottom" nowrap width="93">
Media unit price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3825
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">NEWBOROUGH</a>
</td>
<td valign="bottom" nowrap width="93">
$68,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3825
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MOE</a>
</td>
<td valign="bottom" nowrap width="93">
$123,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3377
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">ARARAT</a>
</td>
<td valign="bottom" nowrap width="93">
$140,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3840
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MORWELL</a>
</td>
<td valign="bottom" nowrap width="93">
$143,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3636
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">NUMURKAH</a>
</td>
<td valign="bottom" nowrap width="93">
$149,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3629
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MOOROOPNA</a>
</td>
<td valign="bottom" nowrap width="93">
$150,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3644
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">COBRAM</a>
</td>
<td valign="bottom" nowrap width="93">
$156,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3465
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MARYBOROUGH</a>
</td>
<td valign="bottom" nowrap width="93">
$164,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3500
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">MILDURA</a>
</td>
<td valign="bottom" nowrap width="93">
$167,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="67">
3556
</td>
<td valign="bottom" nowrap width="190">
<a target="_blank" href="/news">CALIFORNIA GULLY</a>
</td>
<td valign="bottom" nowrap width="93">
$170,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
 
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