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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Auction results finally improved slightly over the weekend, fuelling hopes the latest interest rate cute has spurred first home buyers back into the market and prices are once again on the rise. But experts have warned that any property recovery won't gain real momentum until 2012.

The improved auctions results came after a number of other pieces of positive data. The proportion of first home buyers in the market rose to its highest in nearly a year and a half, and recent RP Data figures showed prices only fell by 0.2% in September – the lowest fall since February.
APM economist Andrew Wilson says while the data is a good sign property markets are improving, it may be a few months until the recovery gains strength.
"The market closes down over January because the industry itself closes down. Certainly there are holiday sales and a few bits and pieces, but people who sell during that period tend to be people that are forced to do so."
"It's just a seasonal effect. Even in the boom period, you see a tapering off in prices growth, but that tends to be picked up in the following quarter. You're going to have a lot of build-up in January and February towards March."
The prospect of a delayed benefit comes as the spring selling season enters its final few weeks. Investors had hoped the season would see a rise in the number of buyers, but an increase in the number of listings has dampened any hopes of price rises.
Instead, new data showing a rise in construction activity and housing commitments has given investors hope. But as Wilson points out, the market is about to shut down and any benefit won't be seen until February or March – by which time another interest rate cut may have occurred, according to some commentators.
"A lot of people make a decision to sell in February, so you have that pre-Easter rush. There's an advertising campaign a month or so before that, so it's a fairly fertile decision period for those going into property."
The weekend's auction results gel with the prospect of a recovering market. Sydney recorded a 57% clearance rate, as buyers rushed in to take advantage of the state's expiring first home owner benefits.
Melbourne had a 54% clearance rate, with 713 auctions, while Brisbane and Adelaide recorded results of 47% and 38% respectively.
Wilson says the results show a good recovery in Sydney, raising prospects of higher activity in February-March 2012.
"There is no doubt that Sydney has improved, after being flat for the year. It's certainly showing signs of price growth and improvements in both sales and buying activity."
"Over the next few week as we get more listings, these will be the tests for the market. As we see higher numbers, we get an idea of where the market is."
This article originally appeared on <a href="https://www.smartcompany.com.au/property/20111114-auction-results-improve-but-experts-say-recovery-won-t-come-until-2012" target="_blank">SmartCompany</a>. 
 
 
 
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cknowlton-QnEa6ntUYP

Auction results improve but experts say recovery won’t come until 2012

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“Global economic headwinds” have slowed the growth of rents and capital values of offices in the Asia Pacific region in the third quarter of 2011, according to CBRE’s global chief economist.
The Asia Pacific Office Rent Index, which measures office rent, rose 12.9% year-over-year, “reflecting a continued strong rebound from the global recession,” says CBRE global chief economist Robert McGrath.
But there was just a 2.2% increase for the third quarter, “indicating that even in the region with the strongest growth, the recovery has moderated”.
It was the same story with the Asia Pacific Capital Value Index, which measures office capital, which increased 1.1% for the quarter 16.5% year on year.
“[The] quarterly increase was well below the average quarterly growth of 3.7% since Q3 2009,” McGrath writes.
However, Asia Pacific fared better than the rest of the world. The global quarterly growth of office rent was just 0.9% with a year-on-year increase of 5.1% while the average quarterly growth of office capital was 1.1% with a year-on-year increase of 10.7%.
“Although both rents and capital values continued to rise, quarterly growth rates lost momentum,” says CBRE global chief economist Raymond Torto.
“Even in Asia – which continues to propel both indices higher – activity slowed due to global economic headwinds.”
America fared poorly in Office Rent Index, with a year-on-year increase of just 1.5% and a stunted quarterly growth of 0.4%.
“Although the Americas Rent Index reached its trough in Q2 2010, Q3 2011 marks only the third quarter of notable rental growth, reflecting the lingering strains in the aftermath of the global financial crisis as well as the uncertainty arising from employment, consumer confidence and debt-related challenges,” says McGrath.
Despite Its feeble rent performance, the Office Capital Value Index for America was stronger, with quarterly growth increasing 1.5% and a year-on-year growth of 10.5%.
“[The increases demonstrate] that investor demand remains strong despite economic uncertainty,” says McGrath.
 
 
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awalsh-7Ub9EypybQ

Asia Pacific office rents growing more slowly due to 'global economic headwinds': CBRE

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Melbourne’s booming fringe office market will reach the 1 million square metres mark of A-grade office space over the next few years when a number of major Docklands projects are completed, according to research by Savills.
The Melbourne fringe office market includes Southbank, <a href="https://www.propertyobserver.com.au/victoria/office-tenants-flock-to-st-kilda-road-savills/2011072150879" target="_blank">St Kilda Road (the busiest office leasing market in the second quarter of the year)</a> and the new Docklands precinct.
It will have nearly double the A-grade square stock (the highest grade outside of inner-CBD premium offices) of its nearest competitor, the Brisbane fringe market, with 527,325 square metres of A-grade space. Sydney is next with a fringe market of 311,395 square metres, followed by Perth (123,873 square metres) and Adelaide (35,520 square metres).
Currently under construction in Docklands are the 13,000-square-metre new headquarters for Melbourne Water at 990 La Trobe Street, the ATO and Marsh Mercer tower at 735 Collins Street (part of the 185,000-square-metre Collins Square project), the 20,000-square-metre Aurecon building at 850 Collins Street and NAB’s second Docklands building at 720 Bourke Street, featuring 63,000 of office space for bank employees.
New projects that will bolster the fringe market include MAB’s 395 Docklands Drive (40,000 square metres) and Charter Hall and Flagship‘s 685 La Trobe Street (35,000 square metres).
According to a <a href="https://www.propertyobserver.com.au/office/melbourne-office-market-to-remain-strong-until-2014-colliers/2011091251513" target="_blank">September Colliers report,</a> more than 70% of the 260,000 square metres of new office space set to become available over the next three years is already pre-leased. 
This strong forecast follows a six-month period from January to June 2011, when the Melbourne office market demonstrated the highest level of net absorption nationally.
At the current rate of development the central Melbourne market – comprising the CBD, Southbank, Docklands, East Melbourne and St Kilda Road (now more than 5.45 million square metres of space) – will exceed that of central Sydney ( the CBD and North Sydney), currently the biggest office market with 5.55 million square metres, by 2015.
Savills Australia national head of research Tony Crabb says the 1 million-square-metre milestone is a “testament to the attraction that Melbourne’s office market generally has for local, interstate and international businesses”. 
Crabb says the key factor in the market’s growth has been the availability of development sites which have facilitated the construction of modern, campus-style buildings. 
“These sites have and continue to assist the growth of the fringe market with relevant, modern accommodation which is both affordable and accessible. They have also allowed businesses to upgrade and consolidate into a location offering access to the best available amenity, which are, these days, pretty much essential requirements in the quest to attract and retain quality staff,’’ he says. 
Large tenants requiring space of 10,000 square metres or more have also been a factor in underwriting the viability of new buildings while the diversity of business types has also been beneficial, Crabb adds. 
Melbourne is currently the headquarters for five of Australia's 10 largest corporations – ANZ, BHP Billiton, NAB, Rio Tinto and Telstra – as well as institutions such as the Business Council of Australia and the Australian Council of Trade Unions (ACTU). 
Savills Victorian head of office leasing Nicholas Farley says Melbourne has Australia’s largest container port, Australia’s most important manufacturing sector, a very accessible international airport and very competitively priced industrial land in the west ideal for large-capacity warehousing and supported by the nation’s best road transport infrastructure. 
“These factors, along with those cited above, and Melbourne’s reputation as the world’s most livable city, have also been important drivers of demand for both CBD and fringe office space,’’ he says. 
Besides being the headquarters of two of the big four banks (NAB and ANZ), Melbourne is also home to 40% 0f super funds and 65% of industry super funds.
Photo courtesy of Tourism Victoria
 
 
 
 
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lschlesinger-FZcF9M3vE6

Docklands growth to push Melbourne A-grade fringe office space to one million square metres

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Stockland has sold its Melbourne office tower Riverside Plaza to Dexus Wholesale Property Fund for $201.5 million.
The sale of the Flinders Street building is part of a program of divestments to fund the share buy-back and maintain low levels of debt.
Allowances for outstanding incentives totalling $7.9 million will be paid to the purchaser.
The $193.6 million net proceeds represent a premium of $11.6 million or 6.4% to the June 2011 book value of $182 million.
The 19-storey A-grade building has been popular with tenants since Grocon built it in the early 1990s for the State Electricity Commission, due largely to its extra-large floor plates and unobstructed view of the Yarra and Port Phillip Bay.
Stockland Trust Group bought the property after it took over APF in 2000.
In the last four years 60% of Riverside Plaza’s floors have been refurbished.
Upgrades to the main foyer, entrance and ground floor retail tenancies were completed this year.
The major tenants in the building include Sinclair Knight Merz  and Primus Telecommunications.
“This is an outstanding result, which reflects the quality of this building and the hard work that has gone into increasing the value of the asset in recent years,” Stockland commercial property chief John Schroder says.
 
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jchancellor-FAypfDUnLy

Stockland sells Melbourne Riverside Plaza office tower to Dexus for $201.5 million

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Veteran apartment builder Harry Triguboff expects interest rates will fall sharply and quickly – as much as one percentage point in four months – as cooling demand from China apartment buyers and Europe's crisis weaken the Australian economy.
Triguboff, founder and chairman of Meriton Apartments, which builds about 1,500 units a year in Sydney and southeast Queensland, described his outlook as bearish for the short term but bullish in the medium to longer term.
"I do not believe that the Reserve Bank will keep the high rates at present levels," he told The Australian.
"Already Westpac is constantly saying that interest rates will drop. I say they must drop. If rates don't drop, building activity will drop even further."
Apartment prices had fallen about 10% in the past six months but would rebound because very little was being built, he advised.
Weaker economic conditions and the lack of new building would have a flow-on effect, putting pressure on the share prices of industrial and building materials companies, he added.
Including the Reserve Bank's 25-basis-point drop in November, Triguboff believes the cash rate will fall one percentage point in this round of cuts, with half of that fall in the next two months.
Having visited China earlier this year, Trigboff suggested China's domestic demand was far softer than a year ago and weaker conditions had stemmed the flow of Chinese investors to Australia.
The sales of Meriton apartments to Chinese buyers had fallen from about 25 to 12 a week, according to The Australian report.
Last month Triguboff told Business Spectator’s Robert Gottliebsen that while the Chinese were still buying strongly a “significant minority” of Chinese buyers were paying a $3,000 holding deposit, but then not proceeding and asking for their $3,000 to be returned.
<a href="https://www.businessspectator.com.au/bs.nsf/Article/Harry-Triguboff-China-apartment-property-interest--pd20111026-MYRRJ?opendocument&amp;src=rss">The Gottliebsen column</a> noted “Triguboff’s Meriton Group was selling about $500 million worth of apartments in inner Sydney to mainland Chinese – almost every inner Sydney apartment he erects”.
It noted where Triguboff builds apartments outside of the inner-Sydney areas the Chinese were not buyers, such as in his Brisbane apartment projects.
Triguboff estimated that he had about 25% of the Sydney market and believed that the total purchases in Sydney were therefore about $2 billion.
Triguboff does not build apartments in Melbourne, but he estimated Chinese buying in Melbourne would be about $1billion – a total of $3 billion in the two cities.
Meriton issued a press release after the last rate cut saying an increase in the demand for purchasing property as rates fall was imminent. 
“We are confident investors will turn their attention back into property where capital growth, secure income and increasing yields are a formality.
“Investors, some of which have had their money tied up in term bank deposits relying on rates to go up or those uncertain of a volatile share market will be first to react," it said.
“Another major factor that will put pressure on demand is strong population growth.“Many foreigners are lured by very low levels of unemployment compared to other developed countries as well as the large number of high quality educational institutions, which are operating at full capacity.
“As demand continues to outstrip supply, which cannot be rectified in the short term or by rate cuts, there can only be one outcome - higher prices,” the press release concluded.
Photo by Meriton 
 
 
 
 
 
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Harry Triguboff expects deep rate cuts fast, as cooling Chinese demand weakens economy

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{yoogallery src=[images/stories/september9glynt]}
Demetri’s Castle, also known as the historic gothic Mount Martha mansion Glynt Manor, has been sold for $3,399,000 – a $900,000 loss in three years.
It was initially listed by hair and make-up artists Demetri and Lila Sideropoulos, who wanted $6.5 million for the nine-bedroom, eight-bathroom mansion on its 2010 listing.
The Greek couple, whose celebrity clients have included Matt Damon, Russell Crowe, Bert Newton and the Pussycat Dolls, bought the 1914 house in July 2008 for $4.3 million from Michael Puttock and Diana Carr.
They then thoroughly renovated it into a family home and bed and breakfast on the SBS documentary Demetri’s Castle.
It sits on about 8,000 square metres, with views of Port Phillip Bay and the Melbourne lights in the distance. It was designed by Harold Desbrowe Annear as a single-storey farmhouse for the Henty family, descendants of Victoria's first European settlers.
It bears a similarity to another of his designs, Delgany at Portsea. Its later owners included the Buxton family from 1917 to 1983 when the then 31-hectare property featured sweeping lawns, orchards and farmlands that ran right to the edge of the bay.
In 1969 the family subdivided the property but retained the manor and two hectares of beautiful English- and French-inspired gardens.
In 1983 the property was sold to new owners, who restored the grand old manor and ran it as a tourism resort, naming it "Glynt By The Sea". It was again run as a bed and breakfast from the mid-1990s by the adventure travel pioneer Bill King.
Mark Callan and William Gilchrist bought the property in 1997 and commissioned Yarraville architect Hugh Basset to undertake some interior redesigns while the home's former gardener, Bob Barker, who started work at Glynt in the late 1920s, returned to restore the gardens.
The duo sold the property in 2000 for $2.35 million.
Last year the Sideropouloses indicated they were selling so they could pursue opportunities overseas, saying they didn't get attached to things. Geoff Smith from LJ Hooker Frankston sold earlier this month, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/demetri-s-castle-star-of-sbs-series-to-go-under-the-hammer/2011090951486">some four weeks after its scheduled October auction</a>.
ASIC documents indicate Smith was taking instructions from administrators of the holding company Mt Martha Landmark Pty Ltd.
 
 
 
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Demetri's Castle sells for $900,000 loss, not including its televised labour of love

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Brantwood Hall, a block of 13 apartments in Edgecliff, in Sydney’s eastern suburbs, has fetched $5 million two weeks after being passed in at auction.
The New South Head Road listing sold under instructions from <a href="https://www.propertyobserver.com.au/residential/sydney-eastern-suburbs-blocks-attract-strata-investor-interest/2011101351928">receivers had been tipped to fetch more than $5 million.</a>
The four-floor Art Deco block comes with 12 apartments with one bedroom, living room plus sunroom, totalling about 58 square metres each. There is also a three-bedroom penthouse with about 300 square metres of top-floor space including balcony.
It has individual strata sale potential, according to its Ray White Double Bay selling agent Craig Pontey.
“The gross annual rental could be improved,” says conjunctional Ray White agent Violet Farebrother
Its current gross annual return is $270,000. After renovations with new kitchens in 1986 it was $110,000, reflecting just 3.6% annual growth during the past 25 years.
 
 
 
 
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Sydney eastern suburbs block Brantwood Hall sells to investor for $5 million

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Property investment adviser Monique Sasson Wakelin says the latest RBA rate cut was too little, too late for any material impact this year on property markets.
The managing director of Wakelin Property Advisory says another rate cut is likely before February 2012.
“If that does happened I think this market is going to kick because a half a per cent has a much greater financial  impact on people’s financial affairs and commitments than a quarter per cent does.”
Wakelin expects any rate cut would energise the market in 2012, having sent the message that the upward cycle of interest rates is over.
Wakelin pointed out that Australia had endured 175 basis points increase in rates since April 2009, so the recent rate cut would shore up confidence in the economy.
She anticipates some renewed capital growth in 2012 – “probably around the middle of the year”.
She said there had been a welcome improvement in affordability, but not a slump in Melbourne, Wakelin told listeners to Hilary Harper’s 774 ABC program on Saturday.
 
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Single rate cut not enough: Monique Sasson Wakelin

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Net tangible asset (NTA) represents the value of the underlying property assets in an A-REIT and is expressed as a dollar amount per security. A price discount to NTA implies that the security can be purchased on the exchange for less than the value of the underlying real estate held by the A-REIT. 
At its peak in March 2007, the sector recorded an average premium to NTA of more than 80%. In May 2009, that average had fallen to a 33% discount. This fall was caused in part by high gearing exacerbating falling property values as a consequence of the GFC, the short supply of credit facilities to refinance expiring debt, a reduction in the valuation of management entities, questions about the effectiveness and appropriateness of strategies implemented by management in the years leading up to the GFC and concerns about the sustainability of asset valuations on balance sheets. 
The average discount to NTA for the sector is now -11%. 
Gearing in the sector is now a more manageable 30% and credit availability is improving, as demonstrated by the $1.27 billion bi-lateral bank facility recently secured by Westfield Retail Trust. Occupancy rates have improved and rental growth has some positive momentum. The 2011 half-year reporting season confirmed that asset values for quality properties are no longer falling with some beginning to rise. Recent A-REIT asset sales at or at a premium to book value suggest that balance sheet valuations are reasonable. Recent examples include the sale of Stockland’s 50% interest in 52 Martin Place, Sydney at a 2.7% premium to book value and the sale of 259 George Street, Sydney by Commonwealth Office Property Trust at a 15% premium. 
Strategies are now largely focused on domestic activity and development losses have worked their way out of the system.  The management structures of some A-REITs including GPT, Centro and Westfield have undergone substantial change in the past two years and aside from investor rebuke over the Dexus remuneration report, this A-REIT AGM season has so far been relatively uneventful. 
The gap between NTA and security prices may well now start to close as a consequence of increased investment into the A-REIT sector taking advantage of the prevailing NTA discount. This inward investment, including the buy-back activities of groups such as GPT, Stockland and Commonwealth Office Fund should drive prices up over time to meet NTAs.
Mark Wist is senior asset consultant at <a target="_blank" title="Atchison Consultants" href="https://www.atchison.com.au/">Atchison Consultants</a>.
 
 
 
 
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Why the discount to net tangible asset in A-REITs should disappear

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In my last article I covered the<a href="https://www.propertyobserver.com.au/residential/the-mad-%E2%80%93-and-very-fashionable-%E2%80%93-expressions-of-interest/2011110652221" target="_blank"> method of sale by “expressions of interest”</a>, so in this one I am expanding on the wider subject to discuss the system of sale by tender. 
According to Wikipedia, <a href="https://en.wikipedia.org/wiki/Tender_offer">‘A tender offer is a corporate finance term denoting a type of takeover bid’.</a> The site doesn’t even consider it as a means of selling residential property. So clearly this system is really going to confuse everyone in the residential market. 
Or will it? This is actually a very effective mechanism for the sale of high-value property where there is genuine uncertainty about the potential price. The fact is that appraising the value range of most properties is fairly easy to do. You do your research, investigate recent comparable sales, talk to the neighbours to get their feedback (who will of course add 30% to their own estimates, which you then deduct) and Bob’s your uncle. 
But what if the property isn’t so easy to appraise, either by the vendor or by the agent? And what if there are no recent comparable sales or current listings to go by? What if the property is a deep-waterfront with its own jetty in Point Piper and the question is not what it is worth but what someone will pay for it? (A classic contradiction in terms). 
This is when you go to tender, and the system offers significant advantages: 
<ul>
<li>No ceiling set on asking price </li>
</ul>
<ul>
<li>Tenders only attract genuine buyers and encourage them to offer their best price </li>
</ul>
<ul>
<li>Flexibility of terms and conditions of sale –the vendors set the most beneficial terms for themselves such as “settlement period up to 12 months”, but can also allow the buyer to include incentives that may be deal-breakers. i.e. “I’ll pay you $5 million and throw in my Ferrari”. </li>
</ul>
<ul>
<li>Confidentiality - Tenders submitted are confidential and the final sale price of the property or buyer’s name are not generally disclosed to the public </li>
</ul>
<ul>
<li>Tender only requires one bidder where auction requires two or more to push the price up </li>
</ul>
<ul>
<li>Sense of urgency – Tenders have a start and finish date </li>
</ul>
<ul>
<li>Tender submissions may be limited to buyers who pay a refundable cash deposit as a sign of good faith (weeding out tyre-kickers) </li>
</ul>
So what happens if the tender falls flat on the closing day and there is no clear winner? This is when the parties (and their agents) are now in a perfect position to negotiate and close the deal based on the most favourable conditions on the table.
Tim Mansfield is founder and principal of Sydney-based buyers' agency <a target="_blank" href="https://www.primepropertybuyer.com/">Prime Property Buyer</a>.
 
 
 
 
 
 
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Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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