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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In light of the savage downgrading by ratings agency Standard &amp; Poor's, are Australian banks really safe for depositors? While my answer to that question is an absolutely unqualified "yes", I raise the question because just before the downgrading, I had a deep conversation with a top Australian banker about just how his bank would handle a global banking crisis.

The combination of that conversation and the Standard &amp; Poor's ratings downgrade made me realise that S&amp;P is delivering to Australian banks a much needed wake-up call that bank CEOs ignore at their peril and to the peril of Australia.
And just to underline that this is a serious matter, the German-based global giant Siemens is establishing its own bank because it does not trust the solvency of the major European banks. The major Australian banks now have the same rating as some suspect European banks. While that says more about the fear inside the US-based ratings agency about the impact of bank downgrades, it again underlines our longer-term vulnerability.
Another long-term warning comes from the sharemarket, where the high yields on Australian bank shares show that international investors are worried about our banks' ability to maintain profits in the new world of global banking.
Australian banks have been money-making machines because they have paid low rates to bank depositors and supplemented their consequent low Australian deposit base by borrowing between 40 and 50% of their funding requirements from the global wholesale market. (It's currently around 40%. The banks have then used their fund avalanche not so much to support businesses, but to fund houses. Australian dwellings have become among the most expensive in the world because of the widespread availability of bank credit.
What Standard &amp; Poor's is telling the bank CEOs, Treasurer Wayne Swan and the Australian public is that it is highly likely that longer-term this game can't continue. Because of the deep problems in the European and US banking communities, plus the demand for funds in Asia, massive wholesale bank borrowing to fund housing markets will not be available unless you are prepared to pay much higher rates of interest.
Right now, the wholesale banking market is shut down so we can't fund our banks, but we clearly expect it to open again. I asked my top banker what happens if it stays shut for an extended period – say a year or two. He points out that most of the large Australian banks have borrowed over three years so they will be impacted gradually. When wholesale funds become due for rollover next year, the impact will be minimised because demand for funding from businesses is low and housing is not buoyant.
Moreover, the strong rise in local deposits has kept the banks very liquid. And the banks know that in the superannuation movement there are substantial funds which could be tapped with higher rates if necessary. And if all that proves to be insufficient, there is the Reserve Bank as a back-up.
While that is a good plan for the short term, it is not a good plan for longer-term funding. First of all, scrambling for superannuation funds in a crisis would be very expensive. Most of the big public superannuation funds do not have a "bank deposits" classification because the funds can't get commission on them. As interest rates fall we are beginning to see the self-managed funds – which control 30 per cent of the superannuation market – switch to equity-style securities that offer higher yields. A few more deposit rate reductions will accelerate that trend and that money will not be easy to get back.
The wake-up call to Australian banks requires them to become less dependent on wholesale bank deposits and begin to fund much more of their loan book at home. Secondly, banks will need to be much more active in funding businesses that create jobs to generate the capital city employment needed to enable homeowners to service their loans.
And finally, the banks better hope that the mainland Chinese cutback in apartment buying is not a signal for a wholesale mainland Chinese withdrawal from our apartment markets in Sydney and Melbourne. Then we really would have trouble.
This article first appeared on <a href="https://www.businessspectator.com.au/">Business Spectator</a>.
 
 
 
 
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Our banks just got a wake-up call on housing: Robert Gottliebsen

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Property investment scion Jo Perrott is set to launch a second $30 million unit trust that will focus on buying prestige residential properties in Australia.
The move comes just two months after Perrott announced the creation of the Allure Properties Diamond Fund, which aims to buy at least six luxury properties in London, the south of France, Colorado, Queenstown and Phuket while the dollar is high and real estate prices are low. The fund spreads its risk across different currencies and economic zones.
“We are responding to the market demands and the decision to launch a domestic fund has been client-led. It will join our international fund,” says Perrott.
Like the international fund, the domestic fund will total $30 million and be a closed fund that is operational for five or six years. Properties will be in Sydney, Melbourne, Perth, Adelaide and Brisbane – possibly Noosa and the Barossa – and worth between $3 million and $6 million each.
The new fund will be launched early next year.
“We have had so much interest, particularly from Melbourne, WA and Sydney as well as from management companies, in this approach to shared investment in luxury real estate. Many clients talked about wanting domestic property with a shorter time span. We expect that by March next year we could be ready to close the international fund,” says Perrot.
While no cash has yet changed hands, Perrott believes there is already enough interest to sell each of the $250,000-a-pop units in the fund and the domestic fund will be similarly priced.
“This is new to Australians, and people need to do their research before committing $250,000. We spend a lot of time with interested parties and our Information Memorandum is a very lengthy document. Already we have about 20 potential buyers in the mix at the moment,” she says.
The Allure Properties Diamond Fund will be a closed fund operating for eight years. During this time each unit holder will be allocated two weeks of vacation time in any of the holdings, which are expected to rent out for up to $20,000 a week. This time allotment can be rolled over into subsequent years, sold or given away. After eight years the fund will be wound up and the proceeds returned to investors.
Perrot hopes to create a new prestige property fund every 18 months.
In the UK this type of unit trust has been a popular alternative to standard residential investment for high-net-worth individuals. One company, Rocksure, has created six funds since 2006 and successfully weathered the GFC and the troubled UK economy.
“The dollar is high and property prices are low. The residences that we have targeted are about 50% discounted on their prices several years ago. We have all the right indicators in place for this to work well,” Perrott says.
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Jo Perrott's Allure contemplates domestic prestige vacation property fund

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Apparently – well according to Luke or Matthew (I get so confused as to who said what in the Bible these days) – Jesus said to Satan, “Man does not live by bread alone, but by every word that proceeds out of the mouth of God!”  Well, I don’t really know about the words from God either, but living on nothing much rings true.
So in the spirit of the season, I bring you Missive Monday.  From now on and on a semi-regular basis – and yes, on Mondays – we will feature a property-related product or service that we think offers real value for money.  Of course, we have done a bit of a deal, so we get some coin – note coin and not dollars – for helping out with promotion.
We have resisted placing advertising on the Matusik Missive site but instead – and let’s face it, we all need to earn a crust – Missive Mondays will bring you legitimate offers than we think provide real value for money.
This Monday will bring you <a href="https://www.3rdhome.com/">3rd Home</a>.
3rd Home is easy to join, is affordable, is a quality product and offer, and is extremely timely given the current and emerging market conditions.
Australia is facing a demographic tsunami.  It is named “baby boomers approaching retirement”.  There are 5.3 million baby boomers (born between 1945 and 1964), and the oldest are now starting to retire.  This dominant market segment makes up 25% of the Australian population; represents 38% of the country’s households; comprises 43% of the paid workforce and holds 49% of our housing assets (in dollar value), split 46% for owner-occupation and 57% for investment housing.
Two-thirds of 800,000 unoccupied second homes (yes, there are that many) dotted around the country are also held by baby boomers.
So what will the boomers do with their residential assets when they start to retire or retread?  Now while they, on average, have great equity in their properties – 93% for owner-resident stock and 86% for their investments and secondary homes, they might want to sell some or all of these assets.
But if the market for such assets remains soft, what can boomers do instead of selling off quality assets in a buyer’s market?
One answer is to check out 3RD Home.
What is 3rdHome?
3rd Home is a “members only” luxury second home global property exchange program. Membership allows second-home owners to exchange weeks in their second homes for vacations at hundreds of international destinations.  At last look today, there are over 800 properties in the program and over 1,000 weeks currently available! By depositing unused weeks in your property into the club system, you earn “keys” that can be immediately used to stay at a whole host of other fabulous places.
<img src="/images/stories/matusik2.jpg">
Pictured above and below are actual 3rd Home members’ properties in Greece and in Noosa.  Both are valued at five “keys” in the 3rd Home system, and members can stay in either property (I for one would pick Greece) for just $495 per week.  Amazing, hey!
<img src="/images/stories/matusik3.jpg">
3rd Home was created to fill a need expressed by second-home owners who wanted to hold their assets but also experience a different getaway experience.  In short, the benefits of owning a second home can be magnified by sharing your vacation home with other 3rd Home members around the world.
As a 3rd Home member you stay in a home that meets your standards.  All 3rd Home properties are part of a private club that comprises affluent travel-minded members who own a second home.  All 3rd Home members have their own properties in the program.
Regardless of whether you rent your second home out or just keep it for family and friends, there is a certain amount of value that can be unlocked with 3rd Home membership.
As a program based on reciprocal benefits, 3rd Home members get out what they put in.
<ul>
<li>Just deposit the number of weeks that you are willing to let others use your property.</li>
<li>Instantly receive “keys” for your deposited weeks.</li>
<li>Find the property you want at the time you want it and use your “keys” to secure it.</li>
</ul>
The 3rd Home platform allows members to make their plans in real time.  No waiting for any replies, if the property you want is available and providing you have enough “keys” in your account, you simply pay a $495 booking fee and it is yours. Once a booking has been made, the 3rd Home system allows both members to converse on the arrangements and details.
3rd Home ensures that each property meets the highest levels of quality, and the site provides detailed information about each member’s property, so everyone can make informed decisions before they book another second home for themselves.
3rd Home has also introduced a feedback system, which provides added peace of mind and allows guest and host members to comment on each exchange experience.
The 3rd Home reciprocal benefits system is built on platform that uses a simple “credit” and “debit” arrangement based on the use of “keys”.  “Keys” have a 15-month life span, providing members with plenty of time to take a dream vacation or two.
Do you want to find out more?  Remember this isn’t time share!  I have arranged for Matusik Missive subscribers to receive a two-year free 3rd Home membership, valued at $495. Click <a href="https://www.3rdhome.com.au/matusik/" target="_blank">here</a> to find out more.
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 href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>. 
 
 
 
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How to use your second home to secure a dream vacation: Michael Matusik

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{yoogallery src=[images/stories/december1holmesacourt]}
The NSW holiday home of Peter and Divonne Holmes à Court passed in at its weekend auction.

Set about one hour south of Sydney, the four-bedroom oceanfront home at <a target="_blank" href="/news">Stanwell Park</a> attracted no bids.

It comes with Luigi Roselli-designed and council-approved plans for extensive additions.

Due to spending more time in Europe, the <a href="https://www.propertyobserver.com.au/new-south-wales/peter-holmes-a-courts-nsw-coastal-retreat-listed-for-sale/2011113052622" target="_blank">Holmes à Court family have decided they won't build their dream beach house extension</a> on the 1,568-square-metre Kallaroo Avenue site.

Its McGrath Thirroul listing agent Amanda Moore had expected $2.1 million plus bidding when it was auctioned in conjunction with LJ Hooker Helensburgh.

It last traded at $2.1 million in 2008.

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jchancellor-FAypfDUnLy

Peter Holmes a Court’s NSW coastal getaway passed in

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Today I am thrilled to be able to share with you a truly unique insight into the RBA board’s internal machinations. A secretly taped video of a discussion between RBA assistant governor Philip Lowe, who runs the so-called “economic group” and is an influential player at the board level, and one of the RBA’s private sector directors, has surreptitiously come into our possession. We have agreed not to reveal the identity of the individual who sourced this material. Given its sensitivity, please do not share it with anyone! Enjoy.
<div style="text-align: center;">
<iframe border="0" frameborder="0" id="xtranormal_Leaked: secret video of two major bank CEOs chat" marginheight="0" marginwidth="0" name="xtranormal_Leaked: secret video of two major bank CEOs chat" src="https://www.xtranormal.com/xtraplayr/12784379/leaked-secret-video-of-two-major-bank-ceos-chat" style="height: 291px; width: 470px;"></iframe>
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Interest rate policy: Up to some digital mischief, Christopher  Joye imagines pre-RBA decision day internal machinations

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Hotels have delivered the greatest total return (rental income and capital growth) of all commercial assets, according to third-quarter Commercial Property Index results released by the Property Council of Australia and real estate information group IPD.
Over the last 12 months the hotel sector has delivered total returns of 17%, significantly higher than those generated for office, retail and industrial assets, which all returned about 10%.
Hotels delivered both the best income growth at 8.9% and top capital growth at 7.5%.
The next best income generating assets were industrial assets (8.6%), while the next best capital growth assets retail assets (3.1%).
The retail property sector was the only commercial asset class where total returns declined over the quarter, falling from 10.7% to 10.4%.
Industrial assets returns increased from 9.4% to 10% while office asset returns were unchanged at 10.2%
<img src="/images/stories/ipdnov30.gif">
Overall, the commercial property index showed a total return of 10.5% for the year ending September 2011 made up of a positive 7.5% income return and positive 2.9% capital growth.
This result represents a slightly lower total return in comparison to the previous quarter of 10.6%. The result is still slightly above the long-run average return of 10.1%.
Anthony De Francesco, managing director of IPD in Australia and New Zealand, says the third-quarter results suggest that the commercial property investment cycle has stabilised. 
“The moderation in returns is underpinned by a softening economy and unfavourable capital market conditions. We expect the property market to continue to soften over the next few quarters below the long-run average return,” he says. 
“IPD expects cap rates to remain relatively steady over the short-term given the softness of space markets and increased uncertainty in global capital markets. The persistence of the Euro crisis is likely to keep capital markets on edge and cause ongoing volatility. This will adversely impact investment performance for commercial property and competing asset classes.”
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Hotels outperform all other commercial sectors: IPD

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Attempts by the Queensland government to stimulate the building of new housing with its $10,000 building bonus have failed dismally, with the state leading a nationwide fall in building approvals in October, according to ABS statistics.
The sunshine state recorded a 19.5% drop in building approvals for the month, leading a 10.7% nationwide slump.
The figures are revealing since potential new home buyers had a full two months to digest the $10,000 incentive. The scheme was introduced on August 1 and will run until January 31, 2012. The boost is available to all class of buyers  (including investors) buying or building a new house, townhouse or unit under $600,000,
At an investor conference last week, Stockland CEO Matthew Quinn highlighted the poor take up of the grant with just 1,200 applications lodged to date equating to $12 million – the Queensland government has set aside $140 million for the scheme.
There were also big falls in approvals in Victoria (18%), Tasmania (12.9%) a modest decline in South Australia (3.3%) and flat growth NSW (0.4%) and the ACT (0%).
The only state to register an increase was Western Australia, where approvals were up 2.1%.
For the last 12 months building approvals – a leading indicator of future residential construction activity – are down 29.8% for the year
The outlook for units is particurlarly bleak, with approvals declining 16.8% in October following a fall of 31.6% in September to be down a massive 44.6% for the year.
Private house approvals declined 7.5% in October following a modest rise of 0.7% in September to be down 15.4% for the year.
Westpac senior economist Matthew Hassan warned of a “hard landing” for new construction and described the October data as “disconcertingly weak” particurlarly given consensus expectations of a rise of 3.3%.
“It suggests private sector houses are taking a sharp leg lower despite recent firming in finance figures and that the residual weakness in apartments apparent once a couple of large projects are removed from the August numbers is indeed pointing to an accelerated weakening,” Hassan says.
“The RBA's decision to cut rates in November may stem the flow but dwelling construction, which makes up 5.7% of GDP, now looks likely to be a considerably larger drag on growth in 2012,” he says.
Industry body the Master Builders Australia says the October figures indicate that the negative trend that developed one year ago is worsening.
“Confidence in the residential sector has plummeted, and although this figure predates the November rate cut, the Reserve Bank will need to do more to turn the situation around,” says MBA chief economist Peter Jones.
“Activity in both private sector houses and other dwellings (units and apartments) is sliding alarmingly after a bleak run of results through the course of 2011,” he says.
“The latest building approval figures are in line with the findings of recent Master Builders’ national surveys that reveal the extent of the deterioration in residential building conditions.”
“Sales and forward orders have fallen away dramatically in the past year as cautious clients, overseas events and difficulties accessing finance work against the industry,” Jones says.
“The immediate challenge is to restore confidence and drive a private sector recovery in the building sector.”
Jones says the residential building industry is banking on further rate cuts to “help boost confidence and stabilise an uncertain market”.
HIA chief economist Harley Dale says the October figures highlight the urgency of acting in late 2011 on both the monetary and fiscal policy front. 
“Such action would both shore up confidence and reduce the risk of housing activity plumbing the depths last seen during the GFC,” he says.
 
 
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Queensland leads national fall in building approvals, despite boost

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Demand for Australian commodities could take a hit if cooling Chinese property market continues to slump. 
According to ANZ’s China economists Li-Gang Liu and Zhou Hao, Chinese authorities have “been actively cooling an overheating property market for the last two years”, with both Chongqing and Shanghai “experimented with a property tax”. 
In addition, more than 20 first- and second-tier cities (the major capital cities and secondary provincial capitals) have imposed a “non-resident purchase restriction policy”, while an ambitious public housing program that aims to build 10 million affordable houses in 2011-2012 and 36.5 million by 2016 is expected to substantially reduce demand in the private housing market in the foreseeable future. 
<img src="/images/stories/china.gif">
“These policies have hit the property sector hard: transaction volumes have declined significantly, first in the top-tier cities, and then the second- and third-tier cities. New property transaction volumes declined by more than 30% in the first ten months of 2011, compared with the same period in 2010,” the bank says. 
“In October, the economy witnessed the biggest price decline since the introduction of the 70 city indices in January 2011: new residential property prices in 33 cities have declined on a monthly basis, while prices in another 23 have remained flat,” Li-Gang Liu and Zhou Hao report.
<img src="/images/stories/china2.gif">
 They warn that because the property sector is a “central pillar for the Chinese economy” the impact of a slump on the economy would be compounded by the lack of alternative growth engine and the weak external demand for the foreseeable future. 
“There is a close link between property sales and fixed asset investment, with a weak property market leading to slower property investment. 
“A slump in the property sector will have significant repercussions for related industrial sectors… Key linkages include the upstream industries of steel, cement and building materials; downstream industries of automobile and home appliance; and the intermediate sectors of banking and advertising,” say Li-Gang Liu and Zhou Hao.
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China’s property slump bad news for resources boom: ANZ

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Australia’s four biggest banks have played down a decision by Standard &amp; Poor’s to downgrade their long term credit rating as part of a global re-rating of the world’s 37 largest banks. 
AA- is the lower limit of Standard &amp; Poor’s “high-grade” category, indicating a “very strong capacity to meet financial commitments”. 
The Big Four banks join 15 banks in Europe and the United States that have been downgraded under the revised criteria.
A ratings downgrade could potentially increase the cost of borrowing money, making it more likely that banks won’t pass on future interest rate cuts to consumers.
The new criteria place heightened emphasis on economic risk and industry risk in setting the starting point or “anchor” in rating a financial institution with the aim of increasing transparency.  The anchor is then adjusted for bank-specific factors, such as capitalisation, management and risk position. Lastly the ratings are adjusted for potential government support and corporate group support.
Putting the downgrades into perspective, Australia’s Big Four banks are still rated more highly than top-rated bank in the US – Wells Fargo, which has an A+ rating.
Westpac acknowledged that its rating had been lowered by one notch, but said it “remains one of a small number of banks worldwide within the Rating Agency’s AA categories”.
Commenting on ANZ’s rating downgrade, chief financial officer Peter Marriott also highlighted that it “remains one of a select group of banks globally that have a AA category rating under S&amp;P’s new bank ratings criteria”.
“We continue to be regarded as amongst the strongest banks globally and with a return to the rating we held until the beginning of 2007, we are one of the few banks in the world to have come out of the global financial crisis with the same rating as we went into it with,” he says.
Commonwealth Bank group treasurer Lyn Cobley says the bank does not expect the downgrade to have any material impact on its funding plans or expected pricing of new debt issuance.
NAB chief executive Cameron Clyne says NAB is a “highly rated bank by global standards, is well capitalised, has strong funding and liquidity positions, and remains well-placed to continue to support customers”.
 
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Major banks play down S&P ratings downgrade

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The Dunk Island Resort in far north Queensland is the latest cyclone-damaged island to sell.
The resort and island was devastated in January when Cyclone Yasi tore through. In early December it was bought Peter Bond, the chief executive of gas company Linc Energy and listed in Business Review Weekly's 2011 rich list at $570 million of wealth. 
While Queensland's Tourism Minister Jan Jarrett said she understood that Bond had bought the resort island for continued tourism intentions, Bond has subsequently advised the reputed $10 million purchase will be used as a private getaway. Bond told the Australian Financial Review there are currently no plans for the commercial division of the resort island.
"I have a large family – six kids – and it's growing rapidly," Bond said. "It'd like to turn the island into a second residence, an anchor where our family can come together."
The coal mining executive's most recent property purchase was when <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/new-south-wales/redfern-proving-magnetic-for-coal-execs/2011062250564" target="_blank">he spent $2,125,000 in June to buy the landmark 125-year-oldformer Redfern post office</a>, now an office building, as an investment. It was sold recently by Max Markson, the publicist who had used the Redfern Street heritage property as the base for publicity business Markson Sparks for five years. The building, which has a clock tower and bell, sold through McGrath agents Paul Ephron and Ben Forsyth. Markson had bought it from Sorin Dascalu &amp; Associates in 2006 for $1.9 million.
Dunk Island Resort occupies 150 hectares, the largest in what is known as the “family group of islands”.
Dunk cost $20.5 million in 2009.
Its sale comes just three weeks after<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/leisure/bedarra-island-sells-to-queensland-s-charlton-hotel-group/2011112252493" target="_blank"> Bedarra sold to the Queensland-based family company with links to former Australian Olympic gold medallist swimmer Andrew "Boy" Charlton</a>.
<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465" target="_blank">Bedarra Island is four kilometres to the south of Dunk Island</a>, the second largest in the “family group of islands” and incorporates the Bedarra Island Resort on 44.96 hectares and Bedarra Hideaway on 34.88 hectares. Bedarra was famous for its complimentary bottles of French champagne at the open bar.
The same overseas vendor had acquired the Beddara Island in 2009 for $21.5 million
Prior to the cyclone the resort offered secluded accommodation for just 32 guests in 16 luxury villas, which enjoyed a strong trading history in recent years.
And it’s likely to have fewer villas and a shortened opening season.
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