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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You’re a $1 million-plus family home buyer. Super Saturday (October 22) has been and gone and you didn’t manage to buy yourself a home from the 150 or so properties that were on offer. What now? With the Melbourne Cup break coming up, it’s time to a) assess your form b) assess your goals c) improve your decision-making processes and/or d) panic.
Let’s start with d) panic. As a home buyer you effectively have a month to find a home or else you probably won’t be settled in a new place until at least Easter 2012. That is six months away, well into the next school year and – oh my god – the footy will have already started again. Six months more of your family unsettled and in limbo. Have you broken into a cold sweat yet?
Well stop it, right now. Take a deep breath and don’t panic. Panic only encourages one thing – poor decisions. Poor buying decisions now will give you and your family weaker long-term outcomes – both financially and emotionally. Poor decisions can lead you to buy the wrong home or miss out on the home you should have bought. Panic leads to weaker negotiating stances.
With four weeks to go and with no obvious target home, the first thing to consider is an alternative home strategy. You could rent, move into a holiday house, move in with family, or buy an interim home. The key to getting temporary family shelter is not perfection but it does have to be comfortable. You want to be in a home that is not going to add stress that will encourage panic and lead to forced decisions – instead of waiting for the right 10-20 year family home.
Assess your form: If you were a racehorse would you back yourself at the next start to win after your last few months of home-buying performances? Have you missed the podium each time the auction race was on?  Was it because you didn’t get the values right, which meant you were shocked by the result every time? Even if you knew how much you needed to pay, did you miss out because you just didn’t perform when it counted? Truthfully assess your skills and your shortcomings and plug the holes either with alternative strategies or some professional assistance – otherwise you will get the same result.
Assess your goals: It’s possible you may not have actually found a home you have wanted to buy yet. You are not alone. We have been in a low-quality stock environment all year and even as professionals we have found it hard sometimes to find good homes to buy. That’s not the case right now, but it has been. However, your goals still may need some tweaking – especially if money seems to be front and centre of almost every family discussion. You may have $3 million tastes with a $2 million budget. You may have bought into what the papers have been saying about the world coming to end, yet the homes you like have three or four bidders and your buy cheap policy is not working. Whatever it is – take a look at what it is you really want. Write down your three Ps – Price, Property and Position – and then get a suburb report of the last 12 months sales and see if there are any homes within your price range. This will give you a clear idea of how realistic your current goals are.
Finally, improve your decision making processes: This can be in the form of DIY improvements or by getting some professional help. A process that will lead to informed and good decisions is 1) clarity of purpose – know what it is you want and match the home to your goals not the other way around. 2) Accurate assessment of a home as to value and whether it meets your needs and 3) planned and professional negotiation to maximise your chance of success within acceptable risk and reward parameters.
You have four weeks after Melbourne Cup to do some things that will make your life better for the next decade. Whatever those actions are base them on good decisions and on clear goals that will result in your family’s best long-term emotional and financial outcomes – and get on with it!
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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If you haven't found your dream home yet, don't panic

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Gold Coast developer Sunland – which has pretty much returned home from its troubled Dubai foray – has purchased Mariners Cove and Marina at Main Beach at a discounted $13 million.
The purchase follows its <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/leisure/sunland-swaps-palazzo-versace-dubai-for-gold-coast-counterpart/2011101751958" target="_blank">recent move to take complete ownership of the nearby Palazzo Versace</a>.
Industry sources were expecting $20 million for Mariners Cove, which has been in the hands of receivers since late 2009.
SP Marina, a joint-venture of The Raptis Group and City Pacific, had paid $49 million for Mariners Cove in 2007.
"We strongly believe that the location of Mariners Cove and Marina is among one of the premier locations in Australia and we are confident that the redevelopment opportunity will benefit Sunland's future portfolio pipeline,'' Sunland managing director Sahba Abedian says.
Abedian notes that the Mariners Cove and marina centre is a strategic asset and says the group views to own it for the long term.
The group has no immediate plans to develop the centre and believes that there is an opportunity to optimise the income from the existing retail and marina leases in the short to medium term.
The site comprises 1.15 hectares of land lease and 2.8 hectares seabed lease, with 102 marina berths.
Mariners Cove is located in a prime position on the Broadwater of the Gold Coast and is adjacent to the Marina Mirage Retail precinct and Palazzo Versace Hotel.
The site sold through public tender through receivers McGrath Nicol.
Settlement is due on December 24, 2011.
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jchancellor-FAypfDUnLy

Sunland cements Gold Coast holdings with neighbouring $13 million Mariners Cove purchase

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The Hideaway Resorts portfolio, which includes Dunk Island Resort, Bedarra Island Resort and Bedarra Hideaway in tropical far north Queensland, is close to sale after overwhelming interest in the run-up to bids closing last week.
“Various bids were lodged from a myriad of different investor types, including a number of high-profile, high net worth individuals, to buy the assets either in one line or to acquire the individual resorts,” CBRE hotels senior director Wayne Bunz says.
“We are in the final stage of negotiation and we are confident that we will have unconditional contracts exchanged, if not settled, by Christmas.”
The freehold tenure island offerings – closed since February’s Cyclone Yasi – ranked as the most significant tourism opportunity in the region this year, Bunz notes.
He adds there has been substantial transactional activity in the far north with the recent sale of the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/five-star-facelift-planned-for-sheraton-mirage-port-douglas/2011072250884">Sheraton Mirage in Port Douglas</a> to David Mariner, plus Wyndham Hotel Group’s acquisition of the Treetops Resort and Spa, also in Port Douglas.
“The general perception seems to be that north Queensland offers significant buying opportunities, with the market showing some signs of recovery.
“With over 100 enquires received on the Hideaway Resorts portfolios, investor perceptions indicate this may well be the case,” Bunz says.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/not-so-perfect-islands-for-sale-in-fnq/2011090751465">Melbourne-based Hideaway Resorts acquired the Beddara Island from Voyages in 2009 for $21.5 million, according to RP Data. Dunk cost $20.5 million.</a>
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FNQ islands overcrowded with 100-strong buyer interest

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All four major banks say the underlying inflation figure of just 0.3% in the third quarter has increased the prospect of the RBA cutting rates on Melbourne Cup Day.
NAB economist Alan Oster says the bank has changed its rate call and is now anticipating a rate cut next week and another one in February.
The bank had previously forecast no rate cut until November 2012.
However Oster says the rate cuts would not be part of a “cutting cycle”.
Headline inflation for the September quarter came out as expected at 0.6%.
ANZ says the underlying inflation data gives the RBA “the green light to cut next Tuesday”.
Westpac points to the underlying measure and the history of the RBA moving rates every November for the past five years as reasons for a possible Melbourne Cup rate cut.
The bank has forecast a December rate cut since July.
“This trend in inflation also provides further support for our view that this cycle will not be a one-off cut. We have held the view that a total of 100bps will eventually be shaved from the cash rate,” says Westpac chief economist Bill Evans.
Westpac expects the next rate cut after November to be in February.
CBA chief economist Michael Blythe said the chances of a rate cut had stepped up significantly, but was more circumspect.
“Clearly the odds on a rate cut next month have gone up a long way.  But the policy decision is more complicated than just assessing one number.  RBA deputy governor [Ric] Battellino stressed yesterday that the bank looks at a range of indicators when determining the policy stance.  And the key question is whether the economy needs some additional support.”
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Now all four big banks see stronger case for Melbourne Cup Day rate cut

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NAB has withdrawn an action in the Victorian Supreme Court to force the Victorian sheriff to evict tenants in two Ivanhoe East properties it has repossessed without 28 days’ notice.
A spokesperson for the bank says the court action was only aimed at “clarifying the legal process requirements for repossession” but the bank withdrew the action due to concerns over the “unintended consequences” it may have for tenants. The case, first heard on Monday, was set to resume on Thursday, October 27.
“We recognise and respect the rights of tenants and will always give them a minimum of 28 days’ notice. Often it is much more,” the spokesperson adds.
The action by the bank drew national coverage and a media backlash over concerns that a decision in favour of NAB would allow it and other lenders to evict tenants of properties in which the landlord has defaulted without any notice.
Media coverage of the action labelled the bank “cold-hearted” and “ruthless” in its actions, with reports pointing out it was at odds with its media campaign highlighting efforts to build “honest” relationships with its customers.
Toby Archer, a spokesman for the Tenants Union of Victoria, told Property Observer a ruling in favour of the bank would have led to the scenario where a lender did not have to secure a repossession order from VCAT to evict a tenant.
Archer says the ruling would have meant the bank could literally knock on the door and tell the tenant to get out.
“It’s a horrible proposition for a tenant who is paying rent and is blissfully unaware that the landlord has defaulted and has had their property repossessed,” he says.
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NAB withdraws court action to evict tenants of repossessed property

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The much-anticipated headline inflation figure for the September quarter has met economists' expectations at 0.6%, but it is the underlying inflation figure of 0.3% whch has made the prospect of a Melbourne Cup Day rate cut more likely. 
The September figure equates to 3.5% through the year to the September quarter 2011, compared with a rise of 3.6% through the year to the June quarter 2011.
Ben Jarman, economist at JP Morgan, says the inflation number is not enough to get the RBA over the line for a rate cut, though it gives the central bank scope to act if things worsen offshore.
But Shane Oliver at AMP Capital suggests the benign September quarter underlying inflation result is consistent with his expectations for a cut in interest rates.
"Today’s CPI figures came in on the low side of expectations which has opened the door for an RBA rate cut next week. The trimmed mean data showed an easing of inflation pressures which now gives the RBA room to move to the downside on Monetary Policy settings, now that they don’t need to be battling inflation like in days gone by," says Tim Waterer, senior FX Dealer at CMC Markets.
ANZ head of Australian economics Ivan Colhoun says the inflation figure suggests the RBA has room to reduce interest rates with the bank expecting to see a 25-basis-point cut in rates on Melbourne Cup day.
HIA senior economist Andrew Harvey says the inflation figure "leaves the RBA with plenty of space to cut rates by the end of this year".
Headline inflation rose 0.9% in the June quarter 2011 (3.6% for the year), compared with a rise of 1.6% in the March quarter 2011 (3.3% for the year.)
The most significant price rises this quarter were for electricity (+7.8%), international holiday travel and accommodation (+5.1%), rents (+1.2%), water and sewerage (+8.6%) and property rates and charges (+5.2%).
The most significant price falls this quarter were for pharmaceutical products (–5.0%), audio, visual and computing equipment (–3.3%), automotive fuel (–1.4%), vegetables (–2.5%), motor vehicles (–1.0%) and fruit (–1.2%).
A survey of 12 economists by AAP accurately forecast headline CPI to have risen by 0.6% in the September quarter and 3.5% in the 12 months to September.
The Commonwealth Bank also accurately forecast a 0.6% increase in headline CPI, with chief economist Michael Blythe noting that the September number had “extra significance” for the RBA in its decision about future interest cuts. 
Blythe also highlighted that the “not-seasonally adjusted CPI will remain the official measure of inflation”. 
The September quarter figure was the first to incorporate revised CPI weights and seasonal adjustment of a larger number of CPI components. Rental payments, household services, health services and education all received a greater weighting in CPI calculations. 
Blythe says changes to the way CPI inflation is calculated will “probably work against a lower inflation trajectory. Better inflation outcomes will rely instead on weaker global and domestic growth actually coming through”.
NAB economists noted the RBA’s acknowledgement that “an improved inflation outlook ‘would increase the scope for monetary policy to provide some support to demand, should that prove necessary’". 
Since 1993, the RBA has set monetary policy to achieve an inflation rate of 2% to 3%, on average over the economic cycle, “a rate of inflation sufficiently low that it does not materially distort economic decisions in the community”.
<img src="/images/stories/inflation.gif">
“The inflation target is also, necessarily, forward-looking. This approach allows a role for monetary policy in dampening the fluctuations in output over the course of the cycle. When aggregate demand in the economy is weak, for example, inflationary pressures are likely to be diminishing and monetary policy can be eased, which will give a short-term stimulus to economic activity,” the RBA explains.



The RBA has kept the cash rate at 4.75% since November 2010.

It will next make a decision about interest rates on Melbourne Cup Day, November 1.
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Third-quarter inflation of 0.6% means rates could be cut on Cup Day

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Weak sentiment will cause house prices to continue to drift sideways to lower over the coming six to 12 months, according to ANZ, which envisages a rebound in economic growth in 2012 and 2013 to limit the price fallout.
Housing market sentiment continued to soften and prices drifted lower in most capital cities, according to the latest ANZ housing report.
Declining auction clearance rates and rising days on market reflected a mis-match between buyer and vendor expectations.
However, the absence of wide-scale forced selling had, to date, protected measured price outcomes amidst a turbulent global economic environment.
The bank notes Sydney house prices had been the most resilient across the capital cities, with prices edging 0.3% higher over the year to August, compared with a 3.2% decline in the national capital city average.
ANZ suggests flattening employment growth and rising unemployment present clear risks to loan delinquencies and house prices across Australia.
It considers interest rates to be at mildly restrictive levels.
“The housing market has also been hit with a behavioural shift towards increased household caution,” notes Paul Braddick, the bank’s head of property research.
<img src="/images/stories/marketbalance.gif">
Source: ANZ
The report, compiled in conjunction with ANZ economists David Cannington and Dylan Eades, says the combined headwinds had resulted in falls in house prices (-1.9% year on year across capital cities to June 2011) and a decline in new building approvals, which fell 9% in the year to August 2011.
The weak housing market sentiment had also weighed on development activity, with current building approvals equivalent to an annual completions rate of just 143,000, well below the bank’s estimate of underlying housing demand of 190,000 for 2011-12.
But the bank expects the continuing deterioration in the national housing shortage to add further downward pressure on rental vacancies and lead to increased rents.
“Through 2011-12, steady population growth and weak home completions will add further tightness to the housing market,” it says.
“Near record low vacancy rates will eventually drive a renewed acceleration in rents that should encourage investors and first home buyers back into the property market.
“Assuming domestic economic conditions remain stable enough to support household finances, the national housing market should continue to simmer, avoiding the recent boilover experienced by many other developed economies through the global financial crisis,” it notes.
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Housing market will continue to soften in next year amid weak sentiment: ANZ

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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.
 
Stockland has lifted some of the current gloom surrounding retail by highlighting that the asset class has proven to be a better investment than both industrial and offices over the last two decades.



Retail property has delivered total returns of 11.9% over the last 10 years while offices have managed 9.4% and industrial 10% over the past 10 years.



The gap in total returns between retail and offices is even wider over a 20-year period, with retail property delivering investors 11.4% growth and offices delivering 7.1%.



Equally noteworthy for commercial investors, retail property returns have been far less volatile than office and industrial property over both the past 10 years and the past 20 years.
<img src="/images/stories/stocklandretail.gif">


Managing director Matthew Quinn told shareholders at the Stockland AGM in Sydney that office and industrial ownership and management “has little synergy” with its other business lines, and did not add to the competitive advantages it had gained in its dealings with government and its broader customer base



The developer will continue to sell office and industrial assets to fund the growth of retail, residential communities and retirement developments and has raised its target of industrial and office sales from an initial range of between $400 million and $500 million to $600 million for the 2012 financial year.



“We are constantly looking for ways to improve our return on funds employed, and selling office and industrial assets is presently a much more cost-effective source of capital than traditional debt or equity, which are likely to remain scarce and expensive for some time to come,” Quinn said.



For the three months to September, Stockland’s portfolio of shopping centres delivered a 3.4% increase on moving annual turnover in the September quarter compared with the previous year.



Quinn called this return a “creditable result, given the current difficult retail environment” reflecting the retail mix in Stockland centres, “which focuses on day-to-day value and convenience, as well as the location of many centres in strongly performing regional locations”.



The developer has three major retail projects underway, including: a $275 million redevelopment of its Merrylands shopping centre in Sydney’s west including the addition of a fresh food precinct and an 800-seat food court; an expansion and redevelopment of its Townsville shopping centre; and a $330 million redevelopment of its Shellharbour shopping centre on the NSW South Coast.



“These projects are all going well, and we expect returns to be in line with or ahead of our feasibilities. We have several other key projects set to commence in the next year or two and we are putting our efforts into achieving development approvals, locking down our construction costs and signing agreements for lease with the major retailers,” Quinn told shareholders.



Stockland has also secured development approvals for the redevelopment of its Green Hills and Wetherill Park shopping centres, “both very highly productive retail assets that are ripe for expansion”.



“While these approvals are a big step forward, we are mindful that many retailers are cautious in their expansion plans and, coupled with the volatility in global financial markets, we don’t plan to start these projects unless we are confident we can achieve returns above our cost of capital and comfortably fund them through to completion,” he said.



“We are also mindful of the potential changes to the retail environment from e-commerce, and we are putting a lot of effort into researching these trends to ensure our centres remain resilient and our development plans appropriate.”

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Retail outperformed office and industrial over past decade or two: Stockland

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There are three things that drive me – I like to be a lonely voice; I enjoy being a stick in the mud (and grumpy about it); and I am always more interested in what people do than what they say.

This somewhat self-centred introduction is an attempt to explain why I keep banging on about the need to change our urban planning policies in this country.  We need to accept the fact that most don’t want to live in little air-conditioned boxes in the sky.  I am not against high-density development – God knows my business has helped many of them come to fruition; it is just that the argument for anything else is losing its voice.

So, here I am again, shouting out for the detached, the semi-attached and townhouses.

A few years back, the United Nations announced, with much fanfare, an invisible yet momentous milestone – for the first time in history more than half of the world’s human population was now living in urban areas.

This trend helped spark the “triumph of the urban”, and the extolling of the virtues of high-density city living over almost all other dwelling forms.  But such supposed triumph is fraught with ironies, the biggest of which is that rather than a simple rush of people from the hinterland into the high-density city centre – and within almost every urban area (Australia included) in the world – the most significant movement of the population has been outward, from dense city centres into peripheral suburban areas, and beyond them into small, dispersed settlements.

The official geographic boundaries, such as those used by the ABS, cloud these trends, and hence they don’t get the analysis and airplay they deserve.

Our analysis, which we do every second or third year (as it is a very time-consuming exercise), shows that more than half of the new urban development across Australia takes place on the fringe.  This is up from 45% 10 years ago.  Inner city expansion is steady at around 15%, with redevelopment of our middle-ring suburbs falling behind.

Most Australians want to live in a dwelling with a close nexus to the ground.  It is who we are – and most migrating to our shores want the same.  The increase in household size suggests the demand for larger homes will increase and high land costs will force more development outwards.

The urban triumphant like to advocate that detached housing is bad for the environment and the denser living arrangements have less environmental impact.  Yet independent research suggest otherwise.

Our planning schemes are also failing us and in some cases, badly.  Despite grand plans to have most of us live in very dense urban settings, the SEQ regional plan can, at best, only deliver two-thirds of the housing starts it needs on “infill” sites.  Many municipalities across the south-east are struggling to hit the halfway mark.

Recent headlines announced that the balcony was replacing the backyard as the new Australian dream – poppycock.  When you remove Melbourne’s speculative boom in student-sized inner city apartments from the mix, there has been no real change in the proportion of attached dwellings built across the country in close to 20 years.

The vast majority simply cannot afford to live downtown.

It is time to accept the facts – and observe what people actually do and not what the “latte left” and political élites say the public want – and start really planning the redevelopment of our middle-ring suburbs and the continuation (even acceleration) of development on the city-fringe and beyond.

We might need to offer some serious incentives to help kick-start things across our middle suburbs.  This, importantly, involves giving back credence to zonings – redevelopment should not be allowed to be stopped by local action groups if the land is already designated to hold higher density development.

Ironically, the continuing spread of the population could conceivably result in a more equitable and more sustainable pattern of living.  This would definitely be the case if Australian management would join the rest of the world and treat white-collar workers like adults, allowing them to work wherever they wish, as long as they meet their KPIs.  In addition, smaller-scaled energy systems – renewable or not – surely would consume less than the giant grids needed to maintain massive urban landscapes.

In any case, despite all the planning regulations put in place in cities throughout the western world to control (stop) growth at the edge, the periphery continues, inexorably, to expand.

Get over it.  We have far more important battles to fight.

Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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Australians want to move out, not up

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The second-in-command at the RBA, Ric Battellino, has delivered a balanced and thoughtful <a href="https://www.rba.gov.au/speeches/2011/sp-dg-251011">speech</a> in which he gives the bank's take on local and global economic developments. I would summarise my analysis of this speech as follows: 1. The RBA's base case is for the global economy – a crucial variable for setting Aussie monetary policy – to grow at a trend pace, with unusually high (but equally unknowable) downside risks at this juncture. 2. However, the RBA is not going to forecast these downside risks, because that's an impossible task. It will watch and wait for the world to confirm what is actually going to happen. 3. The central story around the Aussie economy remains intact in terms of the secular private investment boom. The floods combined with sundry offshore crises temporarily knocked the local economy off balance during the first half of 2011. Subject to the aforementioned global risks, the future should not be radically different to what the RBA previously expected, which, I suspect, means a forecast for gradually rising core inflation with the path determined by today’s third-quarter CPI combined with previous revisions. 4. The Aussie economy is, as I have argued here before, already getting the benefit of "notable" stimulation via reductions in fixed-rate loans to 6.3% or less, reductions in variable rate loans (by 10 to 15 basis points), and a depreciation in the currency from its USD1.10 highs. 5. As my CPI preview anticipated, everything really hinges on the third-quarter numbers and what this tells the RBA about the pulse of inflation. A very low number (similar to what New Zealand got yesterday, which is typically well-correlated with the Aussie results) would allow the RBA to pull down its inflation forecasts to 2013 to within the target 2% to 3% per aannum band, albeit on a still rising trajectory (perhaps it would keep a 3-handle in 2013). 6. To one school of thought, this would in turn enable the RBA to make a once-off technical adjustment to the cash rate to bring it back to "neutral" at the November board meeting. Complicating this decision is the fact that a lot of the recent data flow has been very healthy, and an inflation-targeting central bank would not ordinarily mind having a "mildly restrictive" rate setting given its longer-term view of the world (and the fact that rate changes today target prices over a two-year horizon). I would venture that any technical adjustment is going to be much more motivated by tactical and political considerations (mainly building up long-term goodwill for when the real inflation battle begins); 7. The argument against a technical adjustment is that it is not going to make a big difference to anything (ie, one 25bps move), it is not going to be passed on fully by the banks (thus we are probably only talking about 15-20bps), and the RBA may look very silly if Q4 core prints high, which is a risk, and it needs to start bumping rates back up again. The bottom line is that as Battellino notes, monetary policy remains extremely complex, and he and RBA governor Glenn Stevens are earning every dollar of their way-below-major-bank-standard pay packets (i.e., for a top 15 major bank executive). To be clear, Battellino is not preparing the market for cuts in particular. He is seeking to give the RBA as much room to move as possible. Right now, flexibility is the name of the game. The RBA board members don't want to look like idiots irrespective of whether they have to cut, hold, or, heaven forbid, hike.
Christopher Joye is a leading financial economist. The above article is not investment advice.
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