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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We are indeed fortunate to live in Australia – despite watching on while other nations slide into a never-ending spiral of debt while dealing with street riots and country-wide strikes, our biggest concerns seem to be concentrated on comparatively quibbling matters such as the “boat people” debate, or whether we’ll have an early election.  This is not to say we’re sailing along without a worry in the world because quite obviously there are sectors of our population feeling the pinch, however relatively speaking, we’re doing OK.
The RBA released its Financial Stability Overview this past week, which largely reaffirmed a positive outlook for Australia.  Perhaps the most reassuring news to come from the review is our cautionary approach to spending and borrowing which has encouraged households to take stock of their financial situation ensuring we’re well prepared for any future mishaps. 
The report specified that over half of Australia’s mortgage borrowers are making “substantial excess principal repayments” on their loans, as well as increasing household saving.  This savvy approach to financial management is important, because quite clearly the path ahead is going to be unpredictable and rocky.  The last thing we need is rash spending and extra inflationary pressure – particularly in the housing sector.
However sometimes it seems as if we’re living in world of Harry Potter “Dementors” who are sucking the very optimism out of the air – keeping us on a cliff’s edge waiting for someone to shout “fooled ya” and strip the sunny illusion away.  The number of “experts” who fill the news headlines each week with predictions of a 40% house market crash is disturbing because our housing market is founded on a very stable platform, principally driven by an increasing population and supported by a healthy banking system. 
It could be argued that the doomsday effect of media headlines is relatively harmless, however when it comes to investment, running sensationalist stories can have far-reaching effects because aside from supply and demand, the greatest influence on our market is perception. Whether we recognise the folly of a debate or not, we can’t help but be influenced – hear a message enough times, and your subconscious starts to believe it.
If you’re wise however, and take a more rational outlook, there’s a lot to be learnt from the current doldrums. Flat markets can teach us a valuable lesson because they test the “real” strength of demand without being unduly distorted by bullish speculation often apparent during a boom.  If you understand what performs well in a flat market, you’re better placed to take advantage of the current conditions which are by and large extremely favourable for investors.
Essentially a property is only worth what a buyer will pay and reassuringly for the wise buyers and vendors, the sales results coming in from the homes displaying the right attributes assure that even in a turbulent environment our metropolitan market has the potential for growth.  This is borne out in the latest quarterly residential data, which shows an increase in the median house price of 1.5%.  Each week I attend six to eight auctions, most of which are properties located in areas with the potential for good long-term growth and the right attributes to attract healthy interest. 
Providing vendor expectation is at a reasonable level, the property will attract competitive buyer activity and consequently achieve a good price.  Importantly, it’s the vendors who purchased and negotiated well initially who are outperforming the current flat conditions. Therefore the key to successful investment is at the buying end of the process – get this part right, and the selling side will largely take care of itself.
I wish it were easy to quickly quantify the difference between a good and bad investment. Statements such as “A, B and C” or “investment-grade” properties are bandied around among various commentators as if there’s a secret list in circulation. However, there’s no one size fits all when it comes to property investment.  Each individual needs to be assessed based on their financial needs and long term objectives.  Whether a renter or owner real estate forms an essential part of our everyday lives, however this doesn’t mean we have the necessary experience to make the right choice when it comes to long-term investment. 
If you’re submitting a tax return you go to a registered accountant, if you’re thinking about insurance or investing you talk to a licensed and registered financial planner, therefore do the same if you’re thinking about investing in real estate – seek out a licensed real estate expert to assist you in the process.
Catherine Cashmore is senior buyer advocate for <a href="https://www.jpp.com.au" title="JPP" target="_blank">JPP Buyer Advocates</a> – the largest dedicated buyer advocacy service in Victoria. With extensive experience in all matters regarding real estate, JPP successfully purchases and negotiates more than $100 million worth of property each year.
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catherinecashmore-6LXia3pPQj

Don't let the Dementors get you down - Australian property is not on a cliff's edge

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A combination of falling vacancy rates as well as positive rental growth will attract investor capital into North Sydney offices for the remainder of 2011 and 2012, according to a new report by CBRE. 
The commercial district, separated from the Sydney CBD by the Harbour Bridge, attracted four major transactions totaling $275.3 million from investors in the year until September 2011. 
CBRE senior director Simon Fenn says the deals demonstrated improved market sentiment and equated to the highest level of sales volume for the north shore market since the 12 months to December 2008. 
Major transactions have included US-based Pramerica’s acquisition of a 50% share in The Ark for $113.5 million and the Australian Catholic University acquiring NCR House for $57.3 million.
 
Fenn says both investor and owner-occupier interest for north shore commercial assets has increased. 
Further evidence of improving market sentiment is the number of commercial assets coming to market in the second half of 2011, most notably Northpoint at 100 Miller Street, North Sydney, which is being formally marketed for sale for the first time.” 
Alongside increasing investor appetite for North Sydney offices, leasing activity has also picked up. 
CBRE senior director Tom Bartlett said the rekindling of the leasing market coupled with a current lack of new supply would ensure that the North Sydney office market dipped below 9.0% vacancy by the end of this year. 
“With vacancy in the CBD forecast to continue contracting, North Sydney is once again set to benefit from the overflow of tenants given the market’s comparable location,” he says. 
“Tenant demand has strengthened significantly in 2011 with a number of major lease deals evidencing the market recovery.” 
Among the larger North Sydney deals of the year, Gallaher Bassett re-committed to 3,920 square metres at 201 Miller Street, Seek Limited have taken over 2,721 square metres at 80 Pacific Highway and Tenex have moved into the top two floors of The Ark comprising 2,260 square metres. 
In addition, Cardno has relocated its NSW headquarters from Gordon to The Forum at 203 Pacific Highway, St Leonards, taking up the top four floors. 
 
Total vacancy across the north shore continued to trend downwards in 2011, with North Sydney and neighbouring Crows Nest/St Leonards recording vacancy rates of 9.2% and 12.5% respectively as at July 2011. 
CBRE forecasts indicated the total vacancy on the north shore will average 8.6% between 2011 and 2015. 
According CBRE research analyst Alex Bedrossian there are a number of potential developments in the pipeline which would reinforce the north shore’s position as the main commercial alternative to the CBD. 
There were currently three major development sites in North Sydney that could potentially deliver over 100,000 square metres of new office space over the next five years. 
“While development activity in Chatswood is expected to remain limited as a result of higher vacancy rates, a 31,000 square metres development in Crows Nest / St Leonards is also set for completion by 2015,” Bedrossian says.
Picture courtsey of Tourism New South Wales
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lschlesinger-FZcF9M3vE6

Investors returning to North Sydney offices: CBRE

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{yoogallery src=[images/stories/september27bondi]}
Bondi Beach's record-setting $9 million apartment is up for sale. Since the Notts Avenue penthouse sold in 2006 there have been higher prices, but its listing agents are coy as to their current ambitions.
“It certainly will be selling for more than it last sold,” the listing agent Martin Maskin says.
It’s been listed by Spencer Young, the founder and chairman of a $6 billion global hedge fund business, as he plans to relocate to his country retreat.
The apartment covers the top floor of a three-story building at the south end of Bondi Beach, which has a north-easterly aspect.
The complex is direct above the Bondi Icebergs swimming, fitness and recreation club.
The apartment includes four security car spaces.
The penthouse sales in the area at higher prices include a Ramsgate Avenue apartment that changed hands at $9.8 million in 2007 for a two-level, five-bedroom penthouse on Ramsgate Avenue with 300 square metres of internal space plus balcony, and then more recently a penthouse in The Beach House at 178 Campbell Parade, which sold off the plan for $11.4 million.
The Notts Avenue offering has been listed through Martin Maskin at Raine &amp; Horne Double Bay.
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jchancellor-FAypfDUnLy

Record-setting Bondi apartment back on the market

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Westpac is forecasting consumer spending growth to slow to below 2% for the four quarters to June 2012, which the bank says makes the case for a rate cut even stronger. 
Along with “anaemic credit growth of 3% and modest falls in house prices it seems clear that interest rates are well into the contractionary zone,” writes the bank’s chief economist Bill Evans in the September Coast-to-Coast report. 
“With global growth prospects deteriorating there is a strong case for lower interest rates. That will provide a circuit breaker for the current slowing and help moderate the impact on the economy of the global downturn,” he says. 
Since July Westpac has been forecasting interest rates to be cut by 25 basis points by December and to fall by a total of 100 basis points over a 12-month period.
 <img src="/images/stories/westpacsept27.gif">
Source: Westpac
Evans says the Reserve Bank has acknowledged the need to revise down its “very optimistic growth forecasts” released in August but has not recognised the need for lower interest rates. 
“It seems clear to us that the Australian economy has entered a difficult period where domestic prospects are deteriorating; labour markets are weakening; and dismal news abroad will weigh further on confidence,” Evans says. 
Westpac has a more pessimistic outlook on the Australian economy than the RBA. 
The bank is forecasting Australian GDP growth to average 1.2% for 2011 and 2.5% for 2012, compared with the central bank’s forecasts of 2% for this year and 4.5% for 2012. 
The report also highlights a “loss of confidence amongst consumers and business” with a downturn in the labour market and private business conditions softening. 
“[These] will weigh on household income growth and reinforce recent consumer concerns about their job security. In this environment consumer spending is set to revert to the sub–par pace that has been evident for much of the time since the global downturn,” Evans says.
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Slowing spending makes rate cut more likely: Bill Evans

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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.
 
<img src="/images/stories/ikeaspringvale.jpg">
There is still one tenancy space available in Harvey Norman’s landmark Springvale Homemaker Centre in Victoria. In December CBRE updated the available leasing opportunities indicating there was still showroom floor area with 1,420 square metres available.
The first stage of the centre, involving the largest IKEA store in the Southern Hemisphere, opened in September, attracting more than 80,000 people in the first four days of trading.
In the first five days the Springvale Facebook page has been live it’s had more than 1000 “likes”.
It is located on the corner of the Princes Highway and Westall Road in Melbourne’s outer southeast.
<img src="/images/stories/harveynormanfloorplan3.gif">
The remainder of the 72,000-square-metre complex opened in October, providing space for more than 25 retail brands, including Harvey Norman and Domayne.
The double-storey complex is a joint venture between Harvey Norman and IKEA. Harvey Norman bought its eight-hectare property, formerly used as a Telstra supply branch, when its fended off fierce competition from developers to pay $14.6 million in 2004, which was $4.6 million more than vendor Folkestone paid for it six months earlier.

Harvey Norman occupies a 10,000 square-metre store, and IKEA is trading from a 36,000-square-metre space.
<img src="/images/stories/harveynormanfloorplan2.gif">
CBRE bulky goods senior manager Chris Parry says the development introduces new brands and concepts to the Melbourne bulky goods market, including Curtain Wonderland, Harvey Norman Big Buys and Regal Sleep Solutions.
It will also provide an opportunity for expanding retailers including HS Home – the new Harris Scarfe concept – which is being rolled out across Australia.
JB HiFi, Nick Scali, Snooze, Early Settler, Outdoor Furniture Specialists, Howards Storage World, Adairs, Babyco, Plush, Anaconda, House and Berkowitz are among the tenants.
Parry says the rents range significantly, as CBRE has leased space as large as 2,500 square metres within the centre. 
“An indicative range is $250 per square metre net to $460 per square metre net,” he says. 
“We are currently marketing the last remaining showroom, which is 1,450 square metres with an asking rent of $330 per square metre,” Parry says.
He says the centre's anchor tenants have attracted smaller retailers.
“The strength of the anchor retailers and the centre’s location have been two of the drawcards for tenants, with the complex offering easy access to in excess of 1.8 million people within 30 minutes’ drive time,” Parry says.
“The pulling power of IKEA has been another attraction for tenants, with over 45,000 customers on average visiting an IKEA store each week.
“This equates to over 2.34 million customers a year and when combined with the customer base of the centre’s other tenants in Stage 2, will provide Springvale with a visitation rate unrivalled in Australia.”
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Still space left in Harvey Norman-IKEA's new Springvale homemaker centre

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Keep your eye on Hong Kong and Shanghai in this market rally.
And remember that global stock markets, including Australia, are dominated by professional traders working for the big investment banks and institutions. Given world instability, they are moving markets up and down while putting pressure on politicians and central bankers to find a permanent solution to the European crisis.
The current rally was created because traders had oversold the market, and politicians and central bankers spread the word that they would at last take action.
If that action is yet another Band-Aid and does not include a massive reconstruction of European banks to recognise their losses, then the counter-cyclical rally will run out of steam and the bear market will resume.
But counter-cyclical rallies can be substantial.
What’s happening in Europe has a direct impact on Australia. Outgoing Commonwealth Bank chief executive Ralph Norris dared to tell the truth when he warned that the looming Australian interest rate cuts might not be passed on in full because the turmoil in Europe is boosting the cost of overseas borrowings – which Australian banks require to fund about 40% of their book.
I could be wrong, but my guess is that the Europeans need to feel more market pain before they will take required action.
But while the Europeans dither, there is an emerging property problem in Hong Kong and China, which sent the Hong Kong market to a 26-month low yesterday and saw a continued steady decline in Shanghai.
Last year when the Chinese central banks began the process of tightening, Chinese property developers and state-owned enterprises found private loans to keep up their development momentum. Property gluts are now emerging, and Shanghai and Hong Kong prices are starting to fall. This is weighing on both the Hong Kong and Shanghai markets and is one reason why the price of copper is being hammered (although there was a late rally last night, which recovered a further big fall).
All this may be lost in the current market rally but if there is a sharp cutback in Chinese apartment construction, it will affect commodities. The Chinese government is looking at further stimulation but it also has an eye to inflation.
For Australia, how China plays out will be as important as what is happening in Europe, and Europe needs Chinese money to recapitalise its banks. If China has a crunch of its own at the time of the European crisis, then the world faces a new degree of danger.
But meanwhile, enjoy the rally and, as I told Eureka Report readers last week, if you are uncomfortable with your levels of equity then these rallies give you the chance to adjust your exposure.
This article first appeared on <a href="https://www.businessspectator.com.au/" title="Business Spectator" target="_blank">Business Spectator</a>
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cknowlton-QnEa6ntUYP

China's property market threat to Australia: Gottliebsen

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Pick up any newspaper or property magazine at the moment, and you could be forgiven for thinking that the bottom has just fallen out of the housing market.
Although it is true that we have witnessed some minor price adjustments, the market is still very robust and talk of any bubbles bursting are wide of the mark. It is almost inevitable that the halcyon conditions that we have recently encountered would not last indefinitely.
Markets rise and fall, but unlike a lot of other developed countries, Australia is experiencing a calmer acclimation to turbulent external factors.
With prices more sensible and interest rates unlikely to increase any time soon, the spring is an ideal time to move home. Up until recently we have experienced a "sellers' market", whereas now there is a far greater equilibrium between supply and demand, creating a heightened level of stability.
Irrespective of market conditions, a property is only worth what a buyer is willing to pay, so study comparable evidence carefully and ensure that the price is realistic.
Douglas Driscoll is CEO of <a target="_blank" title="Starr Partners" href="https://www.starrpartners.com.au/">Starr Partners</a>.
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douglasdriscoll-EkfdEjJSsC

Any talk of property bubbles bursting is well wide of the mark

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Exactly why have industrial companies around the world been slow to recover? And why did everything look so promising and then suddenly seem to grind to a halt?
Perhaps some insight into this question was provided by the IMF's recent World Economic Outlook.
According to Oliver Blanchard (IMF chief economist), there are the dual influences of a slowdown in advanced Western economies and the overall financial uncertainty.
During the GFC, companies allowed their inventories to run down. Then, with a hint of global recovery, those same companies began replacing their depleted inventory levels.
As you would expect, production climbed until those inventories had been restored. At which point, you saw production return to more normal levels – when wider business activity was expected to take over from the various government stimulus packages, as it usually did during previous downturns.
But this simply hasn't happen – especially in Europe, the UK and US. Therefore, the first part of the problem relates to there being virtually no transition from government stimulus to private demand.
Furthermore, China has chosen to turn its focus away from these weakened northern economies and towards building its own domestic demand. This has effectively closed the major export market for the large US manufacturing sector, simply making the global problem even harder to solve.
Bottom Line: Fortunately for Australia, China still requires our natural resources in abundance to underpin its massive domestic expansion plans over the next decade.
And as I've stated in various articles over the past month or so, it won't be too long before you'll see the influence of this begin to flow through the rest of the Australian economy, including commercial property.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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chrislang-EQKojcgJPV

China's demand for natural resources will underpin Australia's commercial property recovery

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There has been an increase in the use of the term “discounting” to describe the local property market. Unfortunately, it is a term that fundamentally misunderstands the notion of value and price in residential real estate.
This is the same mistake many commentators made when the market was very strong and sale prices were regularly exceeding vendors’ and their real estate agents’ expectations.
It must be remembered that in most cases that a price on a real estate advertisement is under Victorian law an estimation. The estimate is often based on recent comparable sales and the real estate agent’s judgment. It is not necessarily the price the vendor will sell for, as that often fluctuates over the course of a sales campaign.
It is not clear that commentators using the term “discounting” actually know what a vendor will accept. If they do not then the term only describes the difference between the estimates and not the real value.
It is a truism in real estate that, no matter the state of the market, a property will only sell for the price a purchaser is willing to pay. This is very different from most retail goods – for instance, groceries – which are only available for the stated price.
For a sale to be achieved, the vendor must decide to accept what the market is willing to pay, and that number is an outcome of competition between buyers and other homes on the market.
This is why, as a service to the market, the REIV tracks and compares sale prices. By comparing actual sales, participants in the market can get a real indication if prices, overall or even in one suburb, are stable, dropping or rising. This is a far more useful and clear indication of the state of the market than discounting.
Enzo Raimondo is the CEO of the<a href="https://www.reiv.com.au/" title="REIV" target="_blank"> Real Estate Institute of Victori</a><a target="_blank" title="REIV" href="https://www.reiv.com.au">a.</a>
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enzoraimond-7fvRFHPR52

'Discounting' not an accurate estimate of the market

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Property group Dexus will look to acquire CBD office assets in the forthcoming financial year and has positive overall market outlook, according to its 2010-11 annual results. 
The group’s office portfolio, which comprises 60% of its $7.5 billion property book, delivered a return of 9% while its Australian industrial assets, which account for almost a quarter of its portfolio, returned 9.4%. 
Overall Dexus delivered a net profit of $553 million, an increase of $521.6 million on the previous year. 
In his CEO report, Victor Antink says he expects property markets will continue to recover in 2012. 
The Australian office market experienced 12 months of “above-average demand across all major markets driven by a strong domestic economy and robust employment growth,” the results show. 
During this period national vacancy rates continued a downward trend, with CBD vacancy hitting 7.6%. 
Nearly two-thirds of its office assets (65%) are held in Sydney, followed by Melbourne (14%), Perth (10%) and Brisbane (8%). 
The group completed 113 leasing transactions covering approximately 74,240 square metres of space during the year, providing increases in average rental income of 4.6% and a stable average lease duration of 5.3 years. 
“Vacancy is expected to remain relatively steady with below-average supply coming online over the next two years. We have seen increases in tenant enquiry over the year, particularly in Perth,” the report says. 
In Sydney, Dexus reported that international tenants, which make up a large proportion of the financial services and investment banking presence in the CBD, remain cautious and continue to delay relocation decisions – “due to continued uncertainty in the global economic markets”. 
During the year, Dexus completed <a href="https://www.propertyobserver.com.au/new-south-wales/prime-minister-julia-gillard-seeks-new-sydney-office-digs/2011081751191" title="Julia Gillard looks for new office digs" target="_blank">1 Bligh Street tower in Sydney</a> with Clayton Utz signing on as the major tenant, taking up the lower 15 floors of the 29-storey building. The Commonweath government is considering moving its NSW office to the building.
The $667 million development (Dexus share $227 million) is forecast to deliver a fully leased yield on cost of 7% and is currently 55% leased.
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Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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