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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Building approvals were down 14% in September, according to the latest figures from the Australian Bureau of Statistics.
But HIA acting chief economist Andrew Harvey says approvals rose by 0.7% in the month of September in the core detached housing segment of the market.
“The headline result paints a worse picture than reality although it does have to be noted that the market conditions surrounding residential building are soft at present – total approvals in the year to September 2011 are down by 9.3% when compared to the year to September 2010,” he says.
“Today’s figures confirm that yesterday’s interest rate cut was warranted – it was a necessary first step to an eventual recovery in new home building.
“This is not just because it will save around $50 a month off the average mortgage, but more importantly because it should help boost confidence as homebuyers realise rates are no longer on an upwards trajectory,” Harvey adds.
The HIA notes the fall in building approvals is entirely due to the volatile “other dwellings” segment of the market, which fell a sizeable 32%.
“It’s best to abstract from monthly movements in the volatile ‘other dwellings’ segment, as it can be misleading,” Harvey adds.
“The core detached housing segment of the market saw approvals rise by 0.7% in the month of September although they are down by 1.8% over the September quarter.
“The headline result paints a worse picture than reality, although it does have to be noted that the market conditions surrounding residential building are soft at present – total approvals in the year to September 2011 are down by 9.3% when compared to the year to September 2010.”
“Today’s figures confirm that yesterday’s interest rate cut was warranted – it was a necessary first step to an eventual recovery in new home building. This is not just because it will save around $50 a month off the average mortgage, but more importantly because it should help boost confidence as home buyers realise rates are no longer on an upwards trajectory,” Harvey adds.
In terms of the jurisdictions, seasonally adjusted approvals fell in NSW (down by 32.2%), Victoria (down by 13.6%), Queensland (down by 12.7%), Western Australia (down by 1.5%) and Tasmania (down by 4.8%), while approvals rose in South Australia (up by 11.3%).
In trend terms, approvals fell in the Northern Territory (down by 6.2%) and were basically flat in the ACT (down by 0.1%).
Looking through the monthly volatility in building approvals, dwelling construction continued to experience its own two-speed cycle, according to David Cannington at ANZ Research.
“House building approvals continue to be weighed down by housing affordability constraints, while an increasing undersupply of housing and rental market tightness appears to be supporting a significant pipeline of medium density dwelling construction.
“The outlook for this pipeline will continue to fluctuate with developer margins and changes in government policies to address development constraints.
“However, we continue to expect that total dwelling investment, driven by ongoing weakness in house construction, will weaken further and detract from GDP growth in the year ahead,” Cannington notes.
Westpac notes the extreme volatility makes it difficult to get a fix on underlying conditions.
“The firming evident in private sector house approvals and finance data suggests activity may be finding a base in this segment. “There should be more support from state government policy changes in Qld ($10,000 incentive for new building) and NSW (reduced stamp duty concessions for first-home buyers purchasing established dwellings but remaining in place for newly built) and  the RBA's decision to cut rates," the bank says.
“However, fragile consumer sentiment, deteriorating labour market conditions and global financial turmoil will clearly put a dampener on things.
“Meanwhile how much residual weakness is yet to come through the private sector units segment - where there do appear to be more large-scale projects coming through but also an underlying, lagged weakness to the slowdown – is very unclear,” Westpac notes.
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jchancellor-FAypfDUnLy

Residential building conditions still soft: HIA

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The net effect of yesterday’s decision by the RBA to normalise its official target cash rate back to 4.5% is to hand back to borrowers the large top-ups the major banks added to the RBA's November 2010 rate hike. Privately the RBA was surprised by the magnitude of these top-ups. 
On the 21st of October <a href="https://christopherjoye.blogspot.com/2011/10/thre-great-inflation-debate">I anticipated that they would do exactly this</a> should the third-quarter inflation data print less than 0.6%: 
“I suspect the RBA would not be opposed to "normalising" the level of interest rates… If the third-quarter inflation numbers print on the very low side, they will hammer the final nail in the coffin of the current inflation debate. There will be no evidence that price pressures are accelerating. With a still high currency, this will then denude the rationale for holding the cost of money at the RBA's "mildly restrictive" level (assuming that the RBA is able to revise down all of its currently-elevated inflation forecasts out to 2013). By bringing the price of money back to what the RBA considers to be a "neutral" level, it can signal to the community that it is not going to unnecessarily punish it on the basis of a misguided pursuit of inflation-fighting zealotry. In doing so, it builds up more goodwill with the public that can be expended when the RBA has a real inflation battle to fight. A genuinely low core inflation print next Wednesday…might give the RBA sufficient ammunition to justify a pleasant Melbourne Cup Day present.” 
As it turned out, we got a double surprise: while the third-quarter inflation results were much, much lower than economists or the market expected, the earlier ABS downgrade to the second-quarter numbers, from +0.9% to +0.6%, was revised back up again to +0.8%, which to the RBA’s mind is unacceptably high (since it annualises at over 3%). 
As I have been at pains to explain here before, this second revision to the June quarter inflation data eviscerated the argument that core inflation had been decelerating since March 2011. In fact, the ABS’s best guess at Australia’s underlying inflation track now looks like this (see chart).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nov2.gif"><img src="/images/stories/nov2thumb.gif"></a>
One of the more important remarks in the RBA's statement yesterday was a confirmation of this particular interpretation. More precisely, the RBA observed that "underlying inflation started to pick up in the first half of the year." Note the reference to the "first half of the year". There is no “first quarter”, or intimation towards disinflation over the second and third quarters. 
On the basis of the initial downward revision to the second quarter inflation data from 0.9% to 0.6%, which The Australian's David Uren described this week as a "bombshell", the RBA rather radically altered its inflation outlook. This was meant to be confirmed by the third-quarter data. Unfortunately, policymaking never seems to be that easy. Instead, the RBA got great news in the form of a downside surprise to price pressures over July, August and September, but bad news via yet another change to the ABS’s analysis of the inflation track in the first half of the year. 
Unfortunately, the decision the RBA made yesterday could only be justified by one lonely quarter of inflation data, which stands out as a striking anomaly when juxtaposed against the information contained in the preceding quarters, as illustrated in the chart above. This is positively ironic given the RBA had ignored very high, consecutive core inflation prints of +0.85% and +0.9% in the first and second quarters on the basis that it “needed more information”. It arguably tells us something significant about the way the institution operates: it would seem to find raising rates much more difficult than cutting them. 
An independent observer might respond that is a statement of the obvious. The extraordinary community resistance to the spectre of higher rates in the first half of 2011, when the level of rates was statistically indistinguishable from 15-year averages, highlights the obstacles this notionally “independent” organisation faces when trying to control the price of money. 
Yet RBA aficionados had thought that the bank had a forward-looking, so-called “inflation-targeting” approach to setting policy. What we learnt yesterday was that the RBA’s short-lived experiment with pre-emption, as exemplified by its November 2010 decision, has been abandoned. The RBA has more or less admitted that it is awfully difficult to forecast future inflation with any degree of accuracy. The change to its official forecasts out to 2013, which will be published on Friday, will underline this point. Yesterday’s decision to adjust policy in response to one quarter’s worth of data, when other contemporaneous information, such as the unemployment rate (ironically not materially different to where it was in October 2010), GDP growth-adjusted for the floods, domestic demand, retail sales, capex intentions, and so on, all imply the economy is chugging along at a trend-like rate. 
The question then becomes what the RBA thinks will happen in the future. The subtle message from yesterday is that the RBA is no longer going to take brave punts about what may or may not transpire. It will wait for historical data to guide policy into genuinely restrictive territory. 
 
<hr class="system-pagebreak">
 
So what then are the near-term implications of today's decision? The first will be a massive, and immediate, boon for Australia's highly interest rate sensitive housing market, which, as everyone knows, has been soft for most of the year. Over the nine months to end September, national dwelling values are down by 3.6%. After the RBA’s move, one should be able to find discounted variable home loan rates a tad higher than 6.5%, which is below the 6.9% average since the RBA started tracking this data. 
As previously explained, the housing market had been weighed down by consumer expectations of two to three more rate increases over the year ahead, which, of course, never materialised. Prior to the "double tap" in November 2010, we had been forecasting flat-to-negative capital growth in 2011 and more rate increases. We got a bit more than we bargained for in November. And it would seem that the conviction among Australian households that they would be slammed with another two to three hikes in 2011 did the RBA’s job for it. As Mark Bouris <a href="https://www.businessspectator.com.au/bs.nsf/Article/interest-rate-cut-RBA-Reserve-Bank-Yellow-Brick-Ro-pd20111101-N6V8K?OpenDocument&amp;src=srch">noted in his column yesterday</a>, the de facto rate hikes in 2011 crushed consumer sentiment and housing demand. 
Now that the RBA has reversed course, I expect confidence to rise. We are not simply talking about a shift in rates from “mildly restrictive” to “more neutral” (in the RBA’s words), as I had predicted would happen following a low third-quarter inflation result. No, the RBA’s decision is much more important than that. While key media proxies, like Alan Mitchell and Terry McCrann, are confidently declaring today that this was a once-off adjustment to the RBA’s monetary policy settings and is not going to be followed by a sequence of cuts, the fact is that the community had been literally budgeting (i.e., saving and spending) as if they were certain to get several more rate increases. As late as August, an amazing 30% of Australians felt they would get four or more rate hikes over the ensuing 12 months. 
So the RBA’s decision will engender a substantial shift in consumer expectations. Quantitatively, the median expectation will move by around 50 basis points, or two rate cuts’ worth. This will be reinforced by “market pricing”, which is far more negative than either the RBA or the average economists’ forecast. At the time of writing, the interest rate futures market is pricing a remarkable 100% probability that the RBA will cut rates another 25 basis points in December. While this is conceivable, it would only occur if there were a very serious deterioration in conditions across the North Atlantic. 
The RBA will be especially loath to shift rates before it gets the vital fourth-quarter inflation data, which will be released in late January. This will be critical for both confirming the calendar year track of inflation, and, more specifically, that the low third-quarter result was not simply a once-off. That is, it will want to verify that there are no material revisions to the past data. It is possible, for example, that the third-quarter data is revised up a touch (as the December 2010 quarter data was from 0.4% to 0.6%), and that the ABS’s new “smoothing” methodologies generate a surprisingly high fourth-quarter number. 
The one thing we know with certainty is that no one, including the RBA, can reliably forecast Australia’s inflation data: neither the financial markets nor economists got remotely close to the first- and second-quarter outcomes, nor the ultra-low third-quarter numbers. Accordingly, I don't share Terry McCrann’s confidence that everything will be benign in January. It seems the one constant with Australia’s inflation rate is uncertainty. 
So, we have learnt that yesterday’s rate cut is perhaps more stimulatory than it might appear at first sight, because it will trigger a big change in consumer views of the future. It will also likely knock the wind out of the sails of the Aussie dollar, at least for the next three months. The Aussie dollar has plunged four US cents since before the RBA’s decision, and is currently trading at 1.029 US cents. 
Currencies ordinarily price off global interest rate differentials. The financial markets are punting on many more rate cuts, so it is hard to see how this is going to afford much support for our exchange rate given that peer economy rates have already hit their “lower bound”. 
This will be a tremendous relief to Australia’s exporters, who should benefit from a relative price cut, and import-competing industries, which will face more expensive substitutes. 
Another possible source of stimulation is the long-term price of money. On the back of the RBA’s decision and further global risk aversion, three year government bond rates (prices) have declined (risen) some 35 basis points. 
As I have explained before, the reduction in longer-term interest rates has been the motivating force behind the banks’ willingness to in turn cut the cost of three-year fixed-rate home loans to as low as 6.2% (cf. Suncorp today).
The average three-year fixed-rate home loan in Australia since January 1995 has been 7.41% (see chart below). So current three-year rates are probably around a full percentage point below the decade-and-a-half benchmark, which, in anyone’s books, is stimulatory.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nov21.gif"><img src="/images/stories/nov21thumb.gif"></a>
In summary, we had been expecting flat-to-negative house prices in 2011. Care of two rate hikes in November 2010, and two to three de facto increases in 2011, national dwelling prices are off by 3.6%. Once we accounted for consumer expectations of further rate hikes, our internal models did not project a genuine recovery in housing activity until mid-2012.  At the same time, the ABS reports that disposable household incomes have been expanding at a very rapid 8% per annum pace. This has led to a sharp fall in Rismark’s (and the RBA’s) estimate of the national dwelling-price-to-income ratio over 2010-11, and hence an improvement in affordability before we consider interest rates. 
Yesterday’s bold decision by the RBA to cut rates is a “game changer” for Australia’s housing market. Our models imply that we should see a rebound in activity one quarter earlier than expected (i.e., in the first three months of next year). Any further rate cuts will only embolden this dynamic. 
For over a year now we have argued that Australia’s housing market would be a good hedge against adverse economic outcomes. We believed that if the RBA’s terms of trade, or “Chindia”-driven, resources story did not play out as planned, then the bank will not hesitate to slash rates. The most direct and immediate beneficiaries of these cuts would be the four million-plus Australian households with fully adjustable rate mortgages that price off the RBA’s cash rate. That is, households that have been earning solid wages and solid disposable income growth, and have capitalised on a nearly fully employed labour market. 
In contrast to the extraordinarily volatile share market, a well-diversified portfolio of Australian housing has proven to be an exceptionally resilient store of wealth. Through the cycle, dwelling prices track disposable incomes closely. In fact, the cost of Australian housing has actually fallen slightly when deflated by disposable incomes since 2003. On a year-on-year-basis, there will be some inevitable variability. But over the medium term, the proposition that changes in purchasing power exert a very strong influence over prices tends to remain true. 
A final comforting thought for the housing market, is that, contrary to Steve Keen’s hysterical claims, there is absolutely no evidence of a catastrophic plunge in credit growth causing precipitous falls in dwelling prices. The hard empirical fact is that housing credit growth has stabilised at a rate in line with purchasing power, as we would expect. This point is illustrated by my final chart.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nov22.gif"><img src="/images/stories/nov22thumb.gif"></a>
Christopher Joye is a leading financial economist. The above article is not investment advice.
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chrisjoye-JYhJsTrNRC

Expect rebound after RBA's bold decision, a game changer for housing

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Australia’s wealthiest investors expose a higher proportion of their portfolios to direct property than other merely well-heeled investors with a few million dollars to invest. And their fondness for business real estate rapidly grows along with their wealth. 
The current High Net Worth Investor Report, published by specialist research company Investment Trends, shows that investors with $10 million to $60 million portfolios have 30% of their investments in direct property. On average, they have a 17% exposure to residential property and 13% in business property. 
Compare this with the “poorest” of the high-net-worth investors surveyed by Investment Trends. Investors with $1 million to $2.5 million to invest have 23% of their money in residential property, with just 4% in business property. (Assets held in self-managed super funds are included while family homes are excluded.) 
A little digging elsewhere by Property Observer suggests that many wealthy investors prefer to hold their business property in their self-managed super funds rather in their own names or related entities. 
This favouring of SMSFs for business property is not surprising given superannuation’s concessional taxation and asset protection as well as the special treatment of business property under superannuation law. 
Superannuation assets are inaccessible to trustees in bankruptcy – provided contributions or asset transfers were not made to avoid creditors. And business property is among the few assets that funds are permitted to acquire from their members.
Further, business property is among the few types of assets that SMSFs are allowed to lease to related parties, including the members’ family businesses, without a limit on its value. 
The Australian Tax Office reveals that the poorest of Australia’s top 100 richest SMSFs have more than $20 million in assets, with the average being about $33 million. Annual caps on superannuation contributions mean that the richest of the rich SMSFs – which have assets up to $40 million-plus – will never again be created. 
The latest Self-Managed Super Fund Statistical Report, published by the ATO, shows that SMSFs with $10 million-plus in assets have close to 14% of their portfolios in direct business property. Just 2% of their portfolios are in direct residential property. 
By contrast, SMSFs in the $1 million to $2 million asset range hold a little over 9% of their portfolios in direct business property and a squeak over 4% in residential. 
Australia’s richest SMSFs have a mixed relationship with direct property; some won’t touch it – others own hardly anything else. 
Philip La Greca, technical services director of self-managed fund administrator Multiport, has given Property Observer a perhaps unprecedented insight into the six richest SMSFs receiving its administration services. La Greca has made the details sufficiently vague so they could not be identified. 
These Multiport client funds – which have between $9 million and $10 million in assets – have highly individualised approaches to investing in direct property: 
Rich fund one
Almost 8% of its huge portfolio is invested in a high value apartment. The remainder is invested in Australian shares (60%), fixed interest (17%), cash (%) and overseas shares (7%).
 
Rich fund two
Almost a third of this fund’s assets are in two commercial properties, including the trustees’ business premises, and two residential properties. The rest of the portfolio is invested in cash (30%), Australian shares (22.5%), fixed interest (8.5%) and indirect property (7%). 
The business property could be held in the fund as a family/business succession strategy. The members are baby-boomer parents and their adult child. 
Rich fund three
This fund is rather unusual. Despite its size, it has no direct property. The sole trustee, an elderly retiree, has 95% of the portfolio in blue-chip shares with the remainder in cash. 
Rich fund four
More than 22% of its portfolio is invested in two commercial properties. The remainder is held in Australian shares (64%), cash (12.5%), and fixed interest (1%). 
La Greca says that if one of the two trustee were to unexpectedly die – both are in their 60s – the large share exposure means that a property would not have to be sold to pay death benefits. 
Rich fund five
Again this fund is different from most with multimillion-dollar portfolios. It holds no direct property and a minuscule amount of indirect property. The fund’s other assets comprise fixed interest (67%), Australian shares (19%) and international shares (0.5%). The trustees, both in their early 60s, are taking few chances. 
Rich fund six
The trustees – an elderly couple and their middle-aged children – have 77% of their portfolio in direct commercial property. The remainder is invested in Australian shares (17%), cash (2.5%) and a tiny amount of fixed interest.
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mlaurence-vhAHaLZT8y

Super-rich build their SMSF nest eggs with property, particularly commercial

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Bearish economist Steve Keen says there are a few flawed reasons for the Reserve Bank interest rate cut.
“They have cut rates this time around not because they are proactive, but because they are reactive to their own flawed modelling.
“The only economic models that the RBA use are neoclassical, so by definition they have deficiencies in their modelling,” Keen wrote on <a href="https://theconversation.edu.au/interest-rate-cut-experts-respond-4112?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=da2f2b150a-DailyNewsletter&amp;utm_medium=email" target="_blank">The Conversation</a> academic website.
“They’re about as relevant to the Australian economy or global economy as the weather conditions on Mars are to those on Earth.
“The RBA’s models previously told them that we could expect to see rising inflation and falling unemployment, so that’s why they expected they would need to continue keeping rates up.
“Now what has happened is that inflation is falling when the recent revision of the Australian Bureau of Statistics figures drastically reduced the recorded level of inflation.”
Keen wrote that this should be a surprise to the RBA, because its models would say that with the level of capital utilisation right now we should have rising inflation.
He notes unemployment is rising, which goes against the RBA expectations.
“If it hadn’t been for the redefinition of the consumer price index that led to the ABS revisions, the RBA would have held the line this time around,” Keen says.
“This is because it generally tends to respond too slowly when it needs to move in the opposite direction.
“The RBA probably would have held off to see what this Thursday’s unemployment figures showed.
“But with the CPI revision, the RBA board has a reason that appears consistent with its philosophy about how inflation is caused.
“They can adjust the rate and attribute it to a flaw in the data, which led to the ABS revision. But I think that the inflation figure has come as a surprise to them.
“The RBA is still expecting a booming economy, when in fact what we are experiencing is a debt deflation.
“I’ve had personal experience in talking with deputy RBA governors on this – they do not see the importance of the ratio of private debt to gross domestic product.
“Yet that is what is driving the entire global economy at the moment, because you have unprecedented levels of private debt that were accumulated during asset bubbles, which banks studiously ignored.
“When those asset bubbles reached their peaks and burst, then the debt levels came down as well. That reduction in debt is what drove the global financial crisis,” Keen says.
“The RBA continues to ignore the role of private debt in aggregate demand and economic performance in general, so they will continue to be wrong about this for a substantial amount of time.
“They have cut rates this time around not because they are pro-active, but because they are reactive to their own flawed modelling.
“We can expect more cuts to come,” he predicts.
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Rate cut based on flawed reasoning: Steve Keen

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Inflation looks reasonably under control, and it has looked like that for some time, says Adrian Pagan, professor of economics at The University of Sydney.
“I can’t see the reason why you would cut interest rates by 25 basis points – I don’t believe in 25-point cuts,” the former Reserve Bank board member wrote on <a href="https://theconversation.edu.au/interest-rate-cut-experts-respond-4112?utm_source=The+Conversation+Daily+updates&amp;utm_campaign=da2f2b150a-DailyNewsletter&amp;utm_medium=email" target="_blank">The Conversation</a> website.
“I think that’s a silly situation we got into with making such small adjustments.
“Monetary policy should be conducted with bigger adjustments, although 25-basis-point moves came in when I was on the board, back in 2000.
“There have been bigger changes, but they’ve tended to go towards a sequence of 25-point changes.
“They build up. You never see one of them – you see a sequence of them. I just don’t favour that strategy.
“As far as I can see the outlook here hasn’t changed much at all over the last couple of months, really,” Pagan says.
“And I don’t think the international situation is as bad as everyone thinks it is, but 25 basis points is not a response to that.
“If you really thought it was bad, you wouldn’t be doing 25, you’d be doing 50 or 75.
“Predicting negative outcomes for the international situation is a mug’s game. I don’t think anything much has changed. Mostly people are getting excited about Greek debt, and so on, but even if investors take 50% haircuts it’s not going to go away.
“Fundamentally I don’t see that Greece can stay in the Eurozone,” he says.
“I don’t think it’s going to have a major effect on economic activity, certainly not in Australia anyway.”
The professor argued the outlook for growth was “pretty good”.
“It’s not spectacular, but you wouldn’t be cutting rates because of that.
“And I don’t think you should be cutting rates because of an inflation outcome – it’s just one number.
“You might argue that they have put rates at the level they’ve been because they thought inflation was going to be stronger, so they’re just reversing a little bit.
“Then they’ll be in a position to raise them again if they have to later on,” he suggests.
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Former RBA board member calls 25-point cut a 'silly situation'

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Hobart may look beautiful in tourism shots, but the Tasmanian capital’s housing market is taking a battering this year and the picture is unlikely to improve.
According to the latest RP Data/Rismark house price index <a href="https://www.propertyobserver.com.au/residential/house-prices-fall-slightly-in-best-result-in-seven-months-rp-data-rismark/2011103052126">Hobart dwelling prices fell 6% in raw terms and 4.8% on a seasonally adjusted basis</a> in August to be 9.1% down for the year. The fall in house prices has accelerated over the last three months, with Hobart dwelling prices down 6.4%
This makes Hobart the worst-performing capital city housing market for the year, some way ahead of Brisbane, which has fallen just over 6% this year, but has had to cope with a series of natural disasters.
According RP Data head of research Tim Lawless, Hobart prices are more volatile due to it being a smaller market, but he says the latest figures don’t come as a surprise.
“Hobart has been weak for some time now,” he says.
Lawless says key reasons for Hobart’s weak housing market are its low rate of migration and lack of job creation.
“It’s not attracting lifestyle buyers or prospective retirees. There are no tree changers coming to Hobart. The market has been dependent on them in the past,” he says.
Although it offers investors strong yields for both houses (5.2%) and units (5.4%) compared with the average for capital cites (4.3% for houses, 5% for units) investors appear to be shunning Hobart and the state in general for opportunities in the mainland state.
At the start of September Property Observer featured <a href="https://www.propertyobserver.com.au/residential/affordability-could-draw-investors-to-tasmania/2011090651232">three of Tasmanian properties </a> offering strong investment potential in desirable locations. Two months later, all three are still listed for sale.
Other figures on Hobart are not as gloomy, but certainly reflect a housing market that is in decline and generating very little in the way of buying and selling activity.
Official ABS figures for Hobart show a 1% decline in established house prices over the September quarter with prices down only 0.3% for the year.
However, burrowing down into the figures shows that established house transfers are averaging around 800 per quarter (the most recent ABS on this measure are for the March quarter) compared with about 1,100 in the March 2009 quarter.
Figures compiled by Australian Property Monitors show that stratified median house prices in Hobart are down 2.4% year on year for the September quarter, and the city has a median price of $335,000.
According to June quarter figures from the Real Estate Institute of Tasmania, the waterfront Hobart suburb of Sandy Bay is the most expensive suburb in Tasmania, with a $647,500 median, followed by Battery Point at $645,500. Sandy Bay’s median price in the 2010 was $655,000 and $599,000 in 2009.
Four other suburbs on the 10 most expensive suburbs in the state have recorded strong gains over the past two years, including Seven Mile Beach, up from $398,000 in the 2009 June quarter to $475,000; West Hobart up from $427,500 to $495,000; Sandford up from $426,000 to $497,500 and Mount Nelson up from $417,500 in 2009 to $615,000. However two of the cheapest suburbs on the 10 cheapest locations recorded significant declines in median prices, with Ravenswood down from $190,000 in June 2009 to $142,500 and Gagebrook down from $160,250 to $150,000.
Queenstown on the west coast of Tasmania is the cheapest location, with a median price of $81,500.
Real Estate Institute of Tasmania president Adrian Kelly recently noted that with many overpriced properties on the market that “anyone currently selling a house in Tasmania needs to be willing to meet market prices or be ready for their house to sit on the market for up to a year or more".
All 10 properties on <a href="https://www.propertyobserver.com.au/tasmania/hobart-houses-still-struggling-to-sell-despite-discounts-sqm/2011110152169" target="_blank">SQM Research's list of the most discounted properties in Tasmania</a> have been on the market for more than 200 days, and six have been on the market for more than a year.
Photo courtesy of Tourism Tasmania.
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Hobart property market struggles as Tasmania not attracting tree-changers: RP Data

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A refinancing drive rather than a pick-up in demand for investment properties has caused “buy-to-let” investor loans to soar to a three-year record high in the UK, according to figures from the UK’s Council of Mortgage Lenders.
There were 32,000 buy-to-let loans, worth £3.5 billion ($5.3 billion), taken out from April to June 2011, the highest number and value since the last quarter of 2008.
However re-mortgaging accounted for 65% of the overall increase in buy-to-let lending in the quarter, with the value of the 15,230 loans for re-mortgage at £1.6 billion, 27% higher than in the first quarter, and accounting for 53% of the total gross buy-to-let lending – up from 51% in the first quarter.
The quarterly result were described as encouraging by Council of Mortgage Lenders director general Paul Smee, who says first-time buyers are not being replaced by “buy-to-let landlords”.
However, figures are still well down on the highs of 2007, when the value of buy-to-let mortgages numbers reached 346,000 and a cumulative value of £44.6 billion
<table style="width: 470px;" cellpadding="0" border="1"><tbody>
<tr>
<td>
Period 
</td>
<td>
 Number of new BTL mortgages
</td>
<td>
Value of new BTL lending
</td>
<td>
Percentage of new lending by value
</td>
</tr>
<tr>
<td>
2009
</td>
<td>
93,500
</td>
<td>
£8.5 billion
</td>
<td>
5.9%
</td>
</tr>
<tr>
<td>
2008
</td>
<td>
222,700
</td>
<td>
£27.2 billion
</td>
<td>
10.7%
</td>
</tr>
<tr>
<td>
2007
</td>
<td>
346,000
</td>
<td>
£44.6 billion
</td>
<td>
12.3%
</td>
</tr>
</tbody></table>
Source: UK Council of Mortgage Lenders
Gross mortgage lending totalled an estimated £12.9 billion in September. This represented a 2% decrease from the £13.1 billion lent in August but was 4% higher than September 2010 (£12.4 billion), according to the Council of Mortgage Lenders.
Gross lending for the third quarter of 2011 is estimated at £38.6 billion, a 15% increase from the second quarter of this year (£33.5 billion) and a 2% increase from the third quarter of 2010 (£37.9 billion).
The Bank of England reported in its Credit Conditions Survey that demand for buy-to-let lending increased significantly. Respondents to the survey expect demand for secured lending for house purchases and buy-to-let properties to be broadly unchanged in the next three months.
 
Buy-to-let mortgages are provided for investors to purchase a property to rent out privately to tenants and have been a fixture of the UK mortgage market since the late 1990s.
Rates and fees on buy-to-let mortgages are generally higher than those for owner-occupier mortgages due to the perception that they are riskier loans. Interest costs from buy-to-let mortgages can be deducted from the taxable portion of rental income to reduce an investor’s tax bill.
In Australia, the September APRA statistics show that about 31% (or $323 billion) of all mortgages arranged by banks are for property investors.
Recent statistics compiled by mortgage broker AFG for September show the percentage of loans sold to investors rose to 37.7% compared with 34.5% a year ago.
In Australia line of credit (or home equity) loans have traditionally been the most popular types of loans used by investors to buy an investment property.
However, AFG figures suggest investors are opting for fixed-rate loans rather than equity loans as lenders continue to discount their fixed loan offerings.
Over September the percentage of fixed rate loans sold by AFG brokers rose from 9.4% to 16.6% while equity loans decline from 9.6% to just 7.7%.
For advice on buying your first investment property, download our free e-book.
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Number of UK investors refinancing increases as 'buy-to-let' loans hit three-year high

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New figures from the Australian Bureau of Statistics show that Australia’s richest households are expanding their wealth three times faster than the poorest groups. 
And if there was any doubt in your mind of the value of property as a creator of wealth, the figures clearly reveal a substantial amount of Australia's wealth is tied up in home ownership. 
Melbourne households are (on average) the richest in the nation, followed by Perth, Canberra and then Sydney, which has been knocked off its perch as home to more wealthy Australian families. 
With protests against “greed” going on around the world these findings are timely, so let’s first look at how the rich are getting richer and then I’d like to share some of my thoughts about the importance of money and its relationship to true wealth. 
Mind the gap
Across the country, the average value of household assets in 2009-10 was $907,500, while debts owed were $135,700. This put average net worth at $771,800, up from $591,000. 
Digging deeper into these figures revealed the rich experienced a far more rapid increase in wealth than the poor. 
The wealthiest 20% of households had an average net worth of $2.23 million in June 2010, up $300,000 or 15 per cent from 2005-06. 
The middle class is also doing better, with average household wealth up 14% to $720,000. 
On the other hand, <a href="https://www.propertyobserver.com.au/trends/rich-getting-richer-poor-getting-moderately-richer-abs/2011101451936">the ABS stats </a> reveal the lowest 20% of households account for just 1% of total household wealth and had an average net worth of $32,000, up about $1,000 or 4%. 
Not surprisingly the family home was the biggest contributor to household wealth. 
About 2.7 million households owned their home outright, with an average value of $541,000. For those with a mortgage, the average house value was $521,000 with an average mortgage of $188,000. 
For households with superannuation, the average value of their superannuation was $154,000, but for half of these, the value was less than $60,000. 
Where our rich live
Household wealth was more concentrated in metropolitan areas. The average net worth of households located in capital cities was $772,000 as compared with $629,000 in areas outside of capital cities.
 
Melbourne households were the wealthiest, with net worth of $866,000. In Perth households had an average net worth of $853,400; Canberra - $843,370; Brisbane - $665,800; Darwin - $629,600; Hobart - $605,000 and Adelaide - $572,400 
The average Sydney household had a net worth of $766,700 in 2009-10, up from $697,200.  For the first time since the survey began in 2003-04, this was less than the national average of $771,800, and behind other capital cities. 
This can be explained by the poor performance of the average Sydney house price over that time. While the average value of owner-occupied housing in Sydney rose by about $50,000, the increase was more than $100,000 in Melbourne and about $150,000 in Perth. 
The importance of home ownership 
It should come as no surprise that owner-occupied homes were the main asset held by Australians. 
While the number of Australians that own their home outright fell slightly to 32.6%, the ABS data confirms a “strong correlation” between net worth and home ownership, with mortgage-free households being almost two-thirds wealthier than the rest. 
There's no question that these figures reveal a substantial amount of Australia's wealth is tied up in home ownership and this this has led a number of groups to argue about the inequality of our “system”, including the lack of capital gains tax on our homes. 
Isn’t this uneven distribution of wealth unfair?
I know that currently there are protests around the world about the uneven distribution of wealth and how the greed of various companies and even some countries has got the world into a financial mess. 
These people have some valid arguments and as you’ve taken the time to read some of my views on wealth through property, I’d like to share some of my philosophies on money and wealth for what they are worth.
Firstly let me set the record straight – money is important. It helps you get through life, but money doesn’t equate to wealth. 
Money is important in those parts of your life where it works (like paying the bills) and is not at all important in those areas where it is not essential. 
To be truly wealthy you need a lot more than money. 
Let’s face it, to be prosperous you need things like family and friends, health, time to appreciate your life, personal growth, spirituality (which means different things to different people) and very importantly contribution. 
In my mind contribution back to the society that has helped you become wealthy is critical. 
Rich people are not necessarily greedy, as some believe. Have a look at the ultra-rich – Warren Buffet has donated the vast majority of his wealth back to society, as has Bill Gates. And there are many examples of generous, philanthropic people much closer to home. 
One more thing: wealthy people recognise that it’s not an either /or equation.
They can be rich and happy. They can be rich and generous. They can be rich and good people, while others believe they have to choose between money and other aspects of life. Therefore they’ve rationalised a position that money is not as important as other things. 
Let me ask you a question. 
Just because I own an investment property, that doesn’t stop you from owning one – does it? There’s enough of everything to round in this lucky country we live in. 
Rich people live in a world of abundance, while the poor tend to see limitations. 
My own observation is that many of those protesting about the distribution of wealth look at other people’s success with resentment. Some are even a little jealous. Others seem to believe that the rich people make them poor. 
The problem is that if you resent what other people have, you can never have it! 
If you view rich people as “bad” and you want to be a “good” person, then you can never be rich. How can you become something you deride? 
I can understand why some may think all of this is “unfair” but they should remember that currently over two-thirds of households own their own home either outright or with a mortgage. 
The fact is that when these Australians bought their homes prices seemed expensive to them. However they were disciplined in their spending and saved up a deposit, took on the financial commitment of a home and allowed the magic of compounding, leverage and time to grow their wealth. 
The bottom line
If you want to grow your financial wealth you need to get a foot on the property ladder. 
Yes the economic times are uncertain at present, and you can’t just buy any property and become rich. 
In fact in turbulent times like we’re now experiencing fewer investors will do well, but those who buy the right properties in the right locations and finance than correctly will grow their wealth just like all those millions of other Australians have done before them. 
Remember, as a long-term investor, and that's the only way to look at property as an investor, you can buy a property at any time in the property cycle as long as the fundamentals of the deal are sound. 
This year may be a good time to buy property – I have always found it a good time to buy when everybody tells you that property is a bad investment. Now is the time to get set for the future. 
Michael Yardney is a director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> who create wealth for their clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia's leading experts in wealth creation through property and writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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Building wealth through property possible not just for the rich

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The decision by the Reserve Bank to cut the cash rate by 0.25% on Melbourne Cup Day has been applauded by Mortgage Choice, RP Data, Ray White and the HIA, who all say it will deliver a boost to consumer confidence. The commentators all issued their views within minutes of today's rate cut announcement.
“The RBA knows times are challenging for many consumers and businesses and has reacted by reducing the interest rate restriction on the economy, to boost confidence,” says Mortgage Choice spokeswoman Kristy Sheppard.
According to Sheppard, the less restrictive rate setting should help businesses “to a position where they feel less pressure to cut employee hours and/or numbers”.
“Borrowers will be delighted, but the move probably won’t result in most heading to shops – de-leveraging and building a protective financial shield against tougher times is their focus.”
“Our national survey completed last month discovered only one in five of the respondents, all of whom were mortgage holders, would spend more if interest rates drop. In fact, over half will now contribute more into their home loan and not spend any extra,” Sheppard says.
RP Data head of research Tim Lawless says the rate cut should not come as a surprise from a housing market perspective, “considering the soft market conditions that have been evident since June last year have created no inflationary pressures”.
“In fact, capital city home values are down 3.6% from their December 2010 peak and rental rates have increased by just 4.5% over the 12 months to September.
“The improved debt servicing position will be a welcome improvement to anyone with a mortgage, however the primary benefit from the rate cut is likely to be seen in an improvement in consumer sentiment which should lead to an uplift in housing transaction volumes which are currently tracking about 13% below the five year average nationally,” he says.
Brian White, chairman of the Ray White Group, says the nation’s two-year  discussions about a possible rate increase have been “clearly been inhibiting the psyche of some potential buyers and sellers who have lacked the economic confidence to make decisions about property transactions in that period”.
"There are many people on the sideline who have been awaiting a more favourable cash rate before engaging in the market and this, in turn, has been impacting other sectors of our economy."
"It's encouraging for the RBA to recognise that people need to feel secure in their property equity in order to spend elsewhere. When an individual buys a home they are effectively embarking on a long journey with the RBA," White says.
HIA acting chief economist Andrew Harvey says the RBA made the right call for the economy.
“Both consumers and business need a shot of confidence given offshore and domestic economic circumstances. Today the RBA used the opportunity to administer that shot and it is exactly the right call.”
In his statement on the November Monetary Policy Decision, RBA governor Glenn Stevens suggested that the lower quarterly inflation figure and concerns about confidence outside the resources sector in September pushed the bank over the line:
“Over the past year, the board has maintained a mildly restrictive stance of monetary policy, in view of its concerns about inflation. With overall growth moderate, inflation now likely to be close to target and confidence subdued outside the resources sector, the board concluded that a more neutral stance of monetary policy would now be consistent with achieving sustainable growth and 2% 3% inflation over time,” Stevens said.
He also noted the moderation in the pace of global growth and the moderate expansion in the US economy, despite the fact that US economic expansion picked up in the September quarter.
Global concerns appeared to outweigh the recovery in local equity markets and the recent rise of the Australian dollar on the thinking of the RBA board.
“Equity markets have gained ground and the Australian dollar has risen significantly as risk aversion has lessened. But it is likely to be some time yet before concerns about the European situation can definitively be laid to rest and the effects of the recent turmoil on confidence may result in a period of precautionary behaviour by firms and households,” Stevens said.
“Financial conditions have been easing somewhat recently, with market interest rates declining a little and competition to lend increasing.  But overall conditions have remained tighter than normal, with borrowing rates still a little higher than average, credit growth subdued and asset prices lower than earlier in the year. The exchange rate has been very variable over the past few months, but on the whole has remained at historically high levels,” Stevens added.
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Rate cut will help the economy and boost confidence, say quick-draw industry players

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The Reserve Bank has cut the cash rate by 0.25%, taking the official lending rate to 4.5% following its November Monetary Policy meeting.
The bank had kept the cash rate on hold at 4.75% for a year, having last increased rates by 0.25% at its November 2, 2010 Melbourne Cup Day meeting.
Economists at <a href="https://www.propertyobserver.com.au/economy/third-quarter-inflation-of-0.6-means-rates-likely-to-stay-on-hold/2011102652074">all the major banks</a> tipped the Reserve Bank to cut interest rates after September quarter underlying inflation came in under expectations.
The 0.25% cut will save borrowers around <a href="/news">$46 a month, according to RateCity</a>.  
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