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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There will be strong demand for food-based neighbourhood shopping centres in 2012 from private investors, unlisted property trusts and syndicates, according to new research.
Demand for these commercial assets remained high in 2011, with many investors attracted to higher yields, stronger growth and reduced volatility experienced in the food-based retail sector.
Listed retail property trusts were the strongest performers in the A-REIT sector, following the completion of reporting season.
Investors were attracted to retail during 2011 due to it historically been less volatile than other commercial assets on both a capital growth and total returns basis.
“Retail was far and away the best performing sector as the risk premium increased much less than in the wider market as investors perceived the sector as a relatively safe haven,” says Knight Frank.
“Secondly the macro drivers of the office and industrial were much more dire, especially at the height of the downturn.”
However, even the recent downturn in retail sentiment and expectations of only modest growth in asset values over the next 12 months is not expected to deter investors due to retail diversification benefits and relatively low volatility.
Major listed retail landlords, wholesale funds and some super funds are expected to continue to inject capital into the sector for both “selective acquisitions” and “development/expansion opportunities”.
“There is the potential for many landlords with retail expertise and focus to see this point in the cycle as a counter-cyclical opportunity to acquire or upgrade/expand centres to capture the upturn in trading performance from mid-2012,” the report says.
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lschlesinger-FZcF9M3vE6

Investors hungry for food-based retail

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Home buyer confidence has fallen by 2% over the last six months according to the latest Genworth Homebuyer Confidence Index (HCI). 
Confidence is now declining at a greater rate, having fallen by 1.5% and 0.3% in the previous two six-month periods (dating back to March 2010). 
Despite the latest drop, the result is 3% above the index low of 2008, which occurred during the GFC.
Overall 36% of Australians believe it is still a good time to buy a house, according to the survey. 
This sentiment is highest in Western Australia (47%), New South Wales (39%) and Queensland and Northern Territory (37%). 
"The results show the drop in borrower confidence is mainly due to an increase in the number of borrowers experiencing mortgage stress - up from 21% in March this year to 25% in this survey,” says Ellie Comerford, CEO of Genworth Australia. Despite higher rates of mortgage stress, the vast majority (85%) of borrowers who are experiencing mortgage stress say they are not actually behind on repayments. Borrowers are also becoming more conservative, with over 41% having overpaid their mortgage within the past 12 months. As to the reasons for mortgage stress, the survey showed the rising cost of living is the number one concern for an increasing proportion (72%) of home owners struggling with their mortgage. The second and third factors which worry home owners are rising interest rates and existing debt obligations, which are affecting 50% and 33% of stressed mortgage holders respectively. "Consistent with the March HCI and more recent Genworth International Mortgage Trends Report, cost of living pressures are weighing heavily on borrower's minds," Comerford says. 
The Genworth Homebuyer Confidence Index measures the sentiment of mortgage holders and would-be mortgage holders about their own mortgage and the overall mortgage market. 
The Genworth HCI is based on five factors: the proportion of monthly income used to service debts, maximum loan-to-value ratio comfortable in borrowing, last 12 months repayment history, next 12 months repayment expectation and whether it is a good time to buy a home.
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Home buyer confidence declining more rapidly: Genworth

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The Reserve Bank remains in an “overall neutral zone” on interest rates and is becoming less worried about inflation and more concerned about global markets, says NAB chief economist Alan Oster.
Speaking to Property Observer following the release of the September monetary policy minutes and the IMF’s cuts to global forecasts, Oster says the RBA has shifted out of its tightening zone, though it is not about to cut interest rates any time soon.
“Markets are pricing in a 60% chance of interest rate cut in October, but we think that is way too high,” he says.
Oster says inflation is now more of a medium-term concern, which is why NAB is sticking with its forecast for an interest rate rise around November 2012.
“If there were not international concerns, the RBA would have tightened rates already,” he says.
Oster agrees with comments by the ANZ that the minutes from the RBA's September meeting show a distinction between the current market volatility and that which precipitated the 2008 GFC.
This is further supported by the IMF’s stronger growth outlook for China and Asia relative to Europe and the US.
“Australia looks pretty good,” Oster says.
Commenting on the September minutes, ANZ economist Ivan Colhoun stressed the RBA “does not necessarily see this increase in financial market turbulence as leading to significantly weaker growth in the global economy and spent quite some time noting that circumstances differed from those in late 2008”.
Colhoun says China continues to grow quite strongly and commodity prices have only recorded relatively small falls.
In addition, he says the Australian dollar had been less volatile than equity markets, the Chinese Renminbi is appreciating compared to remaining stable in 2008 after the GFC and the Australian share market is outperforming global share markets.
“The combination of softer domestic Australian growth, especially an emerging easing in the labour market coupled with concerns about the international outlook are likely to have removed the need for the RBA to consider raising interest rates any time soon,” he says. 
“However, with the outlook for the mining sector remaining strong and conditions in the overall economy around their long-term average levels (albeit with very significant divergences between sectors) and circumstances different to those in 2008, at the September board meeting the RBA still seemed quite some way off considering a potential need for either emergency interest rate.”
Oster says the RBA has the room to make emergency rate cuts should something dire happen on the global front.
“If something happens in Europe, the RBA has lots of room to cut rates,” he says.
Asked what might trigger emergency cuts, Oster says it could be a “messy default” in somewhere like Greece or Spain causing banking problems.
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RBA stuck in neutral after IMF cuts global forecast: NAB

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Residential vacancies declined modestly across Australia during August 2011, falling by 0.1% to a national vacancy rate of 1.8%.
SQM Research says it arises from a total of 46,923 vacancies across the capital cities.
Melbourne continues to have the highest vacancy rate of 2.8% for a second consecutive month.
Canberra has once again recorded the tightest vacancy rate of the capital cities –  falling by 0.1% to 0.6%.
Canberra had just 289 vacancies. Melbourne had 10,197 vacancies.
No capital cities recorded month-on-month growth in vacancies; however Melbourne, Adelaide and Hobart did not experience any declines.
Adelaide plateaued at 1.6% (2,311 vacancies) and Hobart at 1.9% (448).
Sydney experienced a monthly decline of 0.2% in vacancies falling to 1.4% (7,769), and 0.2% monthly declines were also recorded Perth at 1% (1,559) and Darwin 0.9% (215) respectively.
Perth was the capital city to experience the largest yearly decline.
The capital cities to experience the largest yearly increase in vacancies were Melbourne and Adelaide – both rising by 0.7% since August 2010.
"With 3% being considered the equilibrium – as the national figure stands, 1.8% still presents a continuing tight vacancy," SQM managing director Louis Christopher says.
“Vacancy rates throughout the course of this year have remained very steady.
“To date there is no significant trend of vendors, having failed in selling their properties, offering up for rent instead,” Christopher says.
"While no doubt some vendors are doing this, so far, it’s not a mass event.
"And so, the rental market remains largely a landlords market, for now,” he  says.
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Canberra leads national rental vacancy decline: SQM

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Spring is traditionally a busy season for real estate, with the warmer weather often seeing renewed vigour from prospective property buyers who held off from purchasing during the colder months, and vendors aiming to sell and relocate in time for Christmas. 
Given that rents are rising and vacancies are low, Century21 expects that much of the market activity this spring will be from first-home buyers looking to enter the property market. 
There will likely be a flurry of activity in New South Wales in particular, with first-time buyers moving to act before the removal of stamp duty exemptions (except on new properties) as of January 1, 2012.  
One of the best steps that these prospective buyers can take to prepare for a purchase will be to obtain mortgage pre-approval well in advance so that good opportunities can be acted upon swiftly. 
For sellers, it’s all about presentation. With spring typically seeing numerous properties listed, you want yours to stand out, giving it the best possible chance to sell for a good price. 
There are numerous, cost-effective ways to revitalise your property – a fresh coat of paint, updating your outside areas with some colourful plants and a thorough clean-up will do wonders to improve its appeal for buyers.
Charles Tarbey is chairman and owner of <a href="https://www.century21.com.au/" target="_blank">Century 21.</a>
 
 
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How to prepare to sell a house in spring

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Centro has continued to liquidate its regional and neighbourhood shopping centre assets, conditionally selling its Centro Newton Plaza in Adelaide for a price above $36.2 million.
The group says the conditional sale was achieved at price above the June 30, 2011 valuation, which is recorded as $36.2 million.
At this valuation price, it reflects a yield of 10% based on gross annual rent of $3.6 million.
The centre, part of its MCS 37 Syndicate, is located at 84 Gorge Road in Newtown, four kilometres southwest of the Adelaide CBD.
It has gross lettable area of 13,500 square metres and is anchored by Target and Foodland.
The conditional sale of Centro Newton Plaza follows successful completion of the sale of the syndicate’s Whites Hill Centre in Camp Hill, Brisbane for $15.5 million, reflecting a yield of 10.3%. This price is $200,000 above the June 30 independent valuation.
It includes a contract to sell an adjacent residential property at 35 Thomas Street, Camp Hill, owned by the syndicate for $530,000, a price $30,000 higher than the June 30, 2011 independent valuation.
Whites Hill was built in 2003. It attracts gross annual rent of $1.6 million, has gross lettable space of just under 4,000 square metres and is anchored by Woolworths.
Whites Hill and Newton are two out of six Centros in the MCS 37 syndicate. They others in the syndicate are Centro Albury (NSW), Centro Home (Gladstone, Queensland), Monier Road Shopping Village (Brisbane) and the Samuel Village Shopping Centre (Brisbane).
Sale of the Whites Hill centre follows shortly after the sale of the Centro Lismore in NSW to anchor tenant Woolworths for about $23 million.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/troubled-centro-now-offloading-seven-shopping-centres/2011090751471">Centro is looking to liquidate its retail portfolio under a restructuring plan to form a new entity.</a> Shareholders will vote on the restructure in December
The net proceeds from the sales will help to reduce the syndicate’s gearing ratio from 64.5% to 60.3%.
The syndicate’s external debt facility expires on December 20 2011. It is in advanced discussions with a new financier to refinance this loan.
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Centro sells Adelaide shopping centre following Brisbane settlement

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Frasers Property Australia has released 1,500 square metres of prime office space within its highly awarded Lumiere property at 101 Bathurst Street, Sydney.
Bluehold Property Agents (formerly PDBA), which is based on-site, has been appointed to sell the strata lots.
They range between 20 square metres and 125 square metres, with prices starting from $175,000 plus GST.
Bluehold expects to sell to professional services consultancies and quite possibly existing occupants of Lumiere’s high-rise residential apartments.
It’s a rarity for strata office spaces to be for sale within a premium-grade building in Sydney’s CBD, Bluehold’s Ben Symond says.
The commercial owners will enjoy access to Club Lumiere’s resort facilities and 24-hour concierge.
Its facilities include cinemas, a 50-metre indoor/outdoor pool, steam and sauna rooms.
Lumiere Commercial comprises one complete, secure level of the iconic tower on the 12th floor above Bathurst Street.
<img src="/images/stories/lumiere2.jpg">
All the Lumiere Commercial suites larger than 100 square metres include a parking space with an estimated value of $100,000.
Headed up by brothers Jay, Luke and Ben Symond, Bluehold Property Agents was launched in 2010 under the name Property Development Brokers Australia (PDBA).
The Symond family has been established in the Australian property development and finance industry for over three decades.
The building complex designed by UK-based Foster + Partners includes Lumiere Residences, a multi-level retail centre, Fraser Suites Sydney apartment hotel and Lumiere Commercial.
Regent Place won the mixed use development category of the Property Council of Australia’s awards for innovation and excellence in 2009.
Frasers has recently sold two suites achieving a high of $8,800 per square metre for a 32-square-metre suite.
The stylish internal fitout of Lumiere Commercial is underway, with occupancy anticipated from November.
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Lumiere luxury a rarity in Sydney CBD office strata offerings

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Green star buildings are delivering a 12% “green premium” in value and a 5% premium in rent, a new study into the financial performance of green office buildings in Australia has found. 
The link between building sustainability and increased value and returns was established following analysis of a portfolio representing 51% of the total office market floor area in Sydney and Canberra.
More than 200 National Australian Built Environment Rating System -rated office buildings and 23 green star-rated building were benchmarked against a portfolio of conventional office buildings in research carried out by The Australian Property Institute and Property Funds Association. 
NABERS is a performance-based rating scheme for existing buildings, using measured annual operational impacts on the environment, including greenhouse gas emissions and water consumption. 
The green star scheme is a comprehensive, national, voluntary environmental rating scheme that evaluates the environmental design and construction of new buildings 
The report Building Better Returns found a “green premium” was evident for both green star-rated and NABERS Energy offices, with five-star NABERS Energy buildings attracting a 9% premium in value. 
The report also found that green star and NABERS Energy buildings delivered other benefits, such as reduced vacancies and outgoings. 
“This research finds both green star and NABERS Energy buildings deliver,” says Green Building Council of Australia chief executive Romilly Madew. 
In his introduction to the report, Nathan Fabian, chief executive of the Investor Group on Climate Change, says the property industry in Australia has actively contributed to this sustainability agenda in the context of its corporate social responsibility strategies. 
“This has seen a large number of property investors effectively integrate sustainability into their business platform at all levels of their commercial activities, this including both the larger property players as well as the smaller property players,” Fabian says. 
Fabian says A-REITs are amongst the leading property players globally “in championing the sustainability agenda for property”. 
Australia’s most sustainable buildings:
 Six-star green star ratings: selected office buildings
Sydney:
1 Shelley Street
1 Bligh Street
39 Hunter Street
100 Market Street
Darling Quarter, 1-25 Harbour Street
The Ark, 16-40 Mount Street
Workplace6, 44 Pirrama Road
 
Melbourne:
200 Victoria Street
ANZ, 833 Collins Street
Council House 2, 218-242 Little Collins Street
Szencorp Building, 40 Albert Street
The Gauge, 825 Bourke Street
Pixel, Building 9, The Brewery
 
Brisbane:
123 Albert Street
33 Breakfast Creek Road
512 Wickham Street
King George Central, 145 Ann Street
Green Square North Tower, 515 St Paul’s Terrace
Santos Place, 32 Turbot Street
 
Perth:
2 Victoria Street
 
Canberra:
9/31 City West Offices AEI Office, Trevor Pearcey House, 34 Thynne Street
 
Adelaide:
SA Water House, 250 Victoria Square
 
Six- and 5.5-star NABERS Energy rated offices
NSW:
76 Berry Street, North Sydney
60 Burelli Street, Wollongong
Legion House, 161 Castlereagh Street, Sydney
Quad 4, 8 Parkview Drive, Homebush
 
Victoria:
Centrelink Office, 69 Heygarth Street, Echuca
2 Nexus Court, Mulgrave
Nexus Corporate, 37 Dunlop Road, Mulgrave
 
Queensland:
Police Barracks Building 1, 61 Petrie Terrace, Brisbane 158 Hume Street, Toowoomba
 
Western Australia:
100 St Georges Terrace, Perth
 
Northern Territory:
Darwin Plaza, 41 The Mall, Darwin Jacana House, 39 Woods Street, Darwin
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Green-rated buildings gold for investors

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Our property markets are flat, and some investors are worried that the value of their properties is falling. Many are asking, “What will my property be worth next year?”. 
Each Monday they look at the auction clearance results and every month they check on median property values. While it’s not as bad as watching your shares fluctuate in value on a minute-by-minute basis, this short-term focus is unhealthy for investors who are generally in it for the long term. 
I think a better question to ask would be, “What will my property be worth in 10 years’ time?”
 
The scary thing for some is that there are commentators out there suggesting property values won’t rise for another decade. Just look at the financial mess the world has got itself into, they say. 
Then there are the overseas gurus who come and visit us predicting the world is about to go through an economic tsunami that will finally swamp Australian property, taking prices all the way back to where they were a decade ago. 
But there’s nothing new about these property pessimists – they’ve always been around, and they’ve always been wrong. Just look what happened to property values in the first decade of this millennium. 
I still clearly remember the turn of the century. While many were celebrating a new millennium, others had concerns. Some were worried that the millennium bug would melt down our computers and others were uneasy about our property markets. We were moving out of a difficult decade, which commenced with the “recession we had to have”, and there were concerns that property values could not increase any further. 
At the time we were paying less than $300,000 for an average house in Sydney; $245,000 in Melbourne; $144,000 in Brisbane; $149,000 in Perth; $188,000 in Darwin; $128,000 in Adelaide and $113,000 in Hobart. 
Fast forward 10 years or so and look at what we paying for the average house today! 
In many cities property prices have increased by more than 140%, despite a recession in 2001, the introduction of the GST, the dot.com stock market crash, going to war in Iraq, a change in government, periods of high interest rates and the world’s worst economic downturn since the Great Depression. 
I’m sure more Australians would have bought properties 10 years ago if they knew what would happen to values over the next decade.
 
Of course I don’t know what’s ahead in the next 10 years, but I do know that there will be just as many hurdles to jump over. 
Remember – obstacles are the scary things you see when you take your eyes off your goals. 
And while parts of the world are in economic turmoil, Australia’s main trading partners are experiencing boom times and the good news is that the fundamentals suggest the next 10 years are going to be just as good, if not better, for property than the last 10 years were. 
We are moving into a new economic cycle, driven by the mother of all resources booms. At the same time our population is still growing strongly and we need more dwellings for the same number of people because we are forming smaller households than before. However, we have a shortage of housing (in some areas), vacancy rates are low, rents are rising and the cost of new construction is escalating. 
Putting all this together means that property values are once again likely to rise significantly over the next decade. But if history repeats itself, and it will, during that time we will have another property boom, a further property slump and most likely another recession. 
To safely steer through the next decade to the point where their property values will have once again doubled, successful investors will need to disregard the “market noise” and not be intimidated by the small stuff, like interest rate increases, tax issues and the negative news in the media. 
Instead, they will need to focus on the big picture.Look at it this way – imagine you were a visitor from overseas and came to any of our capital cities10 years ago and returned again today – you would scarcely recognize the new landscape. 
What are our cities going to look like in 10 to 15 years’ time? 
The key drivers of how our property markets are going change will be population growth and the change in our lifestyle and housing preferences, so it’s really by analysing demographics, the study of populations, that we will understand what the future of the property markets hold for us. 
These issues are going to be far more important to the “big picture” than the changes in the interest rates or the cyclical economic fluctuations that we will endure, because these relatively secondary influences won’t change the momentum of the population that is growing with its very definite housing requirements. 
Economist Christopher Joye <a href="https://www.propertyobserver.com.au/residential/start-spreading-the-news-australian-cities-must-become-more-like-manhattan-christopher-joye/2011090151384">recently</a> explained that Australia will likely have to absorb 2.3 million additional households over the next 15 years alone. BIS Shrapnel estimates that this translates into a new home building requirement of about 3 million properties once you account for demolitions and the historical share of unoccupied homes (e.g., holiday houses, etc). 
There is no doubt that this substantial increase in population will bring with it many social, political, infrastructure and environmental concerns. But it will also ensure that well-located properties will double in value just as they have over the last decade and the decade before that. And in fact the one before that also. 
At the same time there will be billions of dollars worth of activity in home extensions and alterations.  We will also require more shopping centers, nursing homes and hospital beds as well as schools and petrol stations. 
We can take the reassurance from these figures that over the next 10 years, conditions in our capital cities are likely to be even better than we experienced over the last 10 years and overall properties will increase in value by billions of dollars a year and they won’t care who owns them. 
It becomes even more fascinating when you consider that Melbourne and Sydney will each require about 40,000 new apartments over the next 10 years. This is equivalent to 200 high-rise buildings, each accommodating 200 apartments. Things will get interesting because while our community requests less urban sprawl, it also wants less high-rise living, so the idealistic preferences will have to give way to reality. 
It is likely that we will have more decentralised development in the future with the emergence of medium- to high-rise residential buildings in the suburbs rather than just in the inner-suburban areas.  These will occur around public transport terminals, railway stations and possibly conjunction with large shopping centers. We will also see the continuation of the trend of integrating housing medium residential development with existing strip shopping centers. 
It will be interesting to look back in 10 years’ time and see how things pan out. 
In the meantime successful investors will take a big picture view, buy more well-located properties and see the value of their portfolio steadily increase. 
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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Property prices likely to increase in next decade

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{yoogallery src=[images/stories/september21pettit]}
Ken Woolley's striking Modernist 1960s Pettit + Sevitt project home, built recently with 21st-century thinking, has been listed for October 8 McGrath auction with $1.18 million plus hopes.
The latest five-bedroom, two-bathroom Lowline house project by the veteran architect was built at the request of Val Sevitt, the widow of company co-founder Ron Sevitt.
Its design on the 960-square-metre block has been aimed at simplicity, timelessness and functionality taking the best of the past with current-day details.
It is three decades after the original building company closed its doors, and earlier this year the new-look Pettit + Sevitt was completed in the Sydney Hills district of Kellyville.
The house is built on a conventional concrete slab using brick veneer and features western red cedar windows and exposed wooden beams.
The original 1960s house design has been updated to meet modern building requirements.
It certainly incorporates a number of environmental features, including solar panels, reverse-cycle air-conditioning and in-ground rainwater tanks.
"It’s a new millennium version of a modernist cult classic," its McGrath listing agent Mark Vinogradov says.
"It enjoys a peaceful setting close to local shops and city bound transport with views to Castle Hill golf club.
"It has family functional architecture and premium quality additions," he notes.
Pettit + Sevitt relaunched in 2009 under the directorship of Ron Sevitt’s widow, Val Sevitt, and her children, Colin Sevitt and Carol Perry.
Ken Woolley who has had an ongoing association with the project home company, desgined the new prototype Lowline house.
Sevitt says the project  produced a prototype that could form the basis of another project, possible a split-level design.
She says there has been client interest in having the Lowline built on vacant blocks elsewhere in Sydney, but clients had yet to secure suitable blocks.
At one stage Pettit + Sevitt was building 400 of Lowline houses a year with about 3,500 built in the 1960s and '70s.
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Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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