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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Notwithstanding high levels of overseas departures and motor vehicle sales rebounding, global volatility concerns and the weak state of the local housing market have been highlighted amid the reasoning behind the recent Reserve Bank Board decision to leave rates on hold in September.
“The housing market remained weak, with nationwide measures of dwelling prices falling again in July, to be 3–4% below their peak in late 2010. Building approvals had been flat in July, at levels well below average. Members noted that building activity had been significantly stronger in Victoria than in other states in recent years,” the minutes from the September meeting read.
Volatility is mentioned six times in the minutes in relation to foreign exchange markets, bond markets and global financial markets.
“Members discussed the financial position of the household sector in Australia. Over the past year, the household saving rate increased further and the debt-to-income ratio declined slightly.
“Given the recent renewed volatility in global financial markets, the prevailing mood of caution among households appeared unlikely to lift in the near term.
“While households in aggregate were managing their debt levels well, the mortgage arrears rate had drifted up over the first half of the year, but from a low level by international standards. Moreover, this rise mainly related to loans taken out prior to 2009, when banks' lending standards were weaker; newer loans were performing well despite an increase in interest rates.”
The minutes reveal that the RBA is awaiting "hard data" to determining “the extent to which recent global and domestic developments would reduce capacity pressures in the economy and, in due course, help to contain inflation”.
“Very little hard data were available, as yet, on which to base such judgements. As further information became available on the domestic and international economies, members would continue to assess the medium-term outlook for inflation and growth.
“For the present, however, members considered that the current setting of monetary policy left the Board well placed to respond to evolving global and domestic economic conditions.
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lschlesinger-FZcF9M3vE6

Housing weakness highlighted in cautious RBA minutes

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{yoogallery src=[images/stories/september20bourke]}
The 1966 Peter Muller-designed Bourke Street Hoyts Cinema Centre in Melbourne is being converted into strata offices.
It’s been re-launched as 140 East by its developers, Drapac Property.
CBRE agent Tom Tuxworth and David Combes of Alexander Robertson will steer the sale campaign
Whole and half floors as well smaller office ranging from 100 square metres to 605 square metres are being offered.
The cinema façade, which has strong Frank Lloyd Wright influences, is National Trust listed.
The building housed three cinemas on its opening. Drapac Property bought the building in 2004 after Hoyts moved its main theatre complex to Melbourne Central. The cinemas closed in 2004
The premium fit outs of the 7,000-square-metre space over the 10 floors will be designed by SJB Architects.
A half floor in 140 East has already been sold, with the level six strata space fetching $1.72 million, or $5,500 per square metre of building area.
Purchasers will also have the ability to buy car bays in the building which is accessed off Little Bourke Street.
Combes says the Bourke Street precinct has undergone a renaissance in recent years with the addition of the Southern Cross Office development diagonally opposite.
Tuxworth says with no other product like it in the Melbourne CBD he is expecting the project to be very well received.
"This precinct of the CBD currently – and historically – has the lowest vacancy rates, and there is no doubt rents are increasing and will continue to rise.'
Drapac Property purchased the building for $14.4 million. 
The anchor tenant of the lower levels will be Virgin Active health and fitness club. The adjoining 138 Bourke Street strata space was listed last October with $18 million hopes after the three-level complex was leased to Virgin Active on a 15-year lease returning about $1,542,000 a year.
The Virgin space did not find a buyer.
Muller also designed Hoyts drive-ins.
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jchancellor-FAypfDUnLy

Cinema centre begins sequel as strata offices

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There's been joyous celebration on the Cronin Island, the luxury Gold Coast location, just days after tears that followed an emotional auction elsewhere on the island enclave.
Nicole Bricknell, the former wife of the penniless former Billabong surfwear boss Matthew Perrin, has won her battle against the Commonwealth Bank, which was seeking to repossess her beloved family home.
The Queensland Supreme Court has found the former Billabong chief repeatedly forged the signature of his wife (and brother) to secure a $13.5 million loan from the Commonwealth Bank.
The ruling means the Commonwealth Bank cannot enforce its mortgage over the couple's Gold Coast mansion or enforce personal guarantees against Perrin's wife. Outside court, an emotional Bricknell, who is now divorced and who has reverted to her maiden name, said she was glad the proceedings were over.
Justice Philip McMurdo found Matthew Perrin went to "elaborate" lengths to forge his wife's signature. The court heard they were "very good forgeries."
In order to forge one document, he obtained a slip signed by his wife giving one of their daughters permission to take part in school sports, cut out the signature and "by a process of cut-and-paste" produced a backdated power of attorney, McMurdo found.
The $13.5 million was borrowed against the Cronin Island house when it was valued at $15 million in 2008.
"The plaintiff’s claim against the defendant (Perrin) will be dismissed," McMurdo ruled.
"The defendant has established that the register should be corrected to remove the bank’s mortgages.
{yoogallery src=[images/stories/august16mcivor]}
<a href="https://www.propertyobserver.com.au/queensland/former-equititrust-boss-mark-mcivor-lists-popov-designed-gold-coast-home/2011081651176" target="_blank">Meanwhile the luxury Gold Coast abode of the recently resigned managing director of besieged Equititrust, Mark McIvor</a> (pictured above), was passed in at weekend auction on a $4.9 million bid, well short of the wanted figure and reportedly $1.6 million beneath its most recent valuation.
After the two-storey riverfront home designed by Sydney-based architect Alex Popov was passed in the auction attendees noted McIvor's wife Stacey was in tears.
"It's a demonstration of a hard market given it is well below replacement cost," Mark McIvor told the local press.
"We are not in a hurry and we prefer to sell it to someone who appreciates what it has to offer, it is a magnificent home."
It’s one of the 33 properties on the island located just two kilometres inland from the coast.
McIvor, now managing director of Landsolve Partners, built the house on the $1 million block, which he bought in 1994.
The island’s highest sale was $8 million in 2004, when an older-style house on 2,300 square metres was sold.
Equititrust, which became known for using a Roman voussoir arch as its marketing logo to suggest structural stability, was among the many unlisted mortgage funds to take a battering following the 2008 financial crisis.
In April 2011 Equititrust confirmed it had stopped paying income distributions to unit holders in two funds housing more than $300 million worth of assets as it accelerated its debt repayments to its banks.
Equititrust investors have been through hell with their money frozen for more than three years, with interest payments stopped and the value of their units substantially devalue, and with no end in sight. Lawyers Piper Alderman continues to investigate the merits of a unit holder class action against Equititrust Limited.
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Nicole Perrin joyous, but Stacey McIvor distraught in Cronin Island home dramas

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?The Robina Woods and The Colonial golf courses on the Gold Coast have been bought by Queensland’s richest man, mining supremo Clive Palmer, for a reported $7 million.

The <a href="https://www.propertyobserver.com.au/news/babcock-and-browns-queensland-golf-course-investment-caught-in-the-rough/2011070750736" target="_blank">courses were put on the block in July</a> under instructions from Joseph Hayes and Jamie Harris from McGrathNicol, receivers and managers of Playmore Golf Pty Ltd.
Playmore, a Babcock &amp; Brown syndicate, acquired them in 2002 for $7.8 million from the American Golf Corporation.
The golf courses were marketed on behalf of receivers by Mark Witheriff and Paul Nyholt of CBRE, with McVay Real Estate’s Will and Sam McVay.
The courses attract green fees of about $8 million a year.
Palmer’s acquisition follows his purchase of the Hyatt Regency Coolum on the Sunshine in July of between $40 million and $60 million.
He told the Australian Financial Review at the time he felt Queensland had “enormous tourism potential”.
Robina Woods is an 18-hole, par 71 course on 61 hectares.
The Marsh Waston-designed course opened in 1990 and incorporates a landmark clubhouse with food and beverage facilities and banquet rooms. There are tennis courts and access to a wedding chapel.
The Colonial is an 18-hole, par 72 course on 75 hectares designed by Mitsuaki Kobayashi, which opened in 1992. Built by Nara Australia Pty Ltd, the course opened as Paradise Springs Golf Course. Its facilities include a Queenslander-style clubhouse, pool and spa.
Former Babcock &amp; Brown chief executive Phil Green has been one of the three directors of Playmore since 2002, along with Sydney entrepreneur Danny Goldberg, and Malta-based Eric Lucas.
Playmore Golf was placed in voluntary administration in April this year with debts of $3.86 million.
Another Queensland golf course on the market is the luxury <a target="_blank" href="https://www.propertyobserver.com.au/leisure/sea-temple-development-seeks-golfing-devotees/2011091551565">Sea Temple Golf and Country Club in Port Douglas</a>, as well as the adjoining housing estate, put by for sale by the Juniper Development Group.
The development is being sold via an expressions-of-interest campaign led by Paul Nyholt and Wayne Bunz from CBRE closing on October 13.
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Clive Palmer adds distressed golf courses to his Queensland trophy cabinet

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A New Zealand-based investor has acquired Wellington five-star InterContinental Hotel for NZ$50 million (A$40 million), the top commercial sale of the year to date across the Tasman. 
The hotel was put up for sale in June this year by Sydney-based owner Eureka Funds Management, with Jones Lang LaSalle Hotels appointed to market the property. 
The sale was negotiated by Jones Lang LaSalle executive vice-president Dean Humphries and senior vice-president Ross Beardsell. 
Built in 1990 in conjunction with the HP Invent Tower, the hotel incorporates 232 guest rooms and suites together with nine conference/meeting rooms, two restaurants, a bar, health club and swimming pool. It occupies a prime position in the heart of the Wellington CBD, with the upper floors offering spectacular harbour views.
Humphries says the sales campaign attracted a strong level of interest with over 50 initial enquiries.
“This level of enquiry underpins the continued investor confidence in the New Zealand hotel market that we witnessed over the past 12 months,” he says.
The InterContinental Hotel Wellington is the 12th major accommodation asset that Jones Lang LaSalle Hotels have sold this year across Australia and New Zealand, equating to 2,455 hotel rooms worth approximately A$600 million.
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Wellington InterContinental sold for NZ$50 million

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<img src="/images/stories/lockyeroutside.jpg">
Darren Lockyer, the 36-time Queensland State of Origin team hero, has found the Brisbane property market as enduringly tough as his recent on-field experience.
His Paddington residence listed for early August auction remains for sale in the city’s challenging market.
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/darren-lockyer-s-brisbane-house-for-sale-in-tough-selling-season/2011072850958">The contemporary Paddington property</a> cost Lockyer $1.49 million in 2004.
It now comes with $2,275,000 hopes.
The five-bedroom, three-bathroom place had been expected to fetch $2 million plus based on the standard growth (and then decline) experienced in Brisbane over the past seven years. A nearby $2.15 million will have given Lockyer some comfort.
No official public price estimate has been given by its listing agents Tim Douglas and Gail Miller at Place Estate Agents.
In March the Broncos captain announced he will retire from all forms of rugby league at the end of the NRL season, his 17th season in first grade.
Brisbane’s auction clearance rates have hovered around 25% in the first nine months of this year, according to Australian Property Monitors, although for the past three weeks there has been a notable improvement from 25% to 30% and a 42% clearance rate last weekend.
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Darren Lockyer gives Brisbane market a try but can't get his house over the line

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I heard the other day that the CIA has inducted exposure to Australian equities as an unofficial form of torture. Since January 2009 I have warned of the risk of painful "dead-cat-bounces" in the share market (see, for example, <a href="https://www.businessspectator.com.au/bs.nsf/Article/The-rocky-road-to-retirement-%24pd20090122-NHVS4?OpenDocument&amp;src=srch">here</a>). In May 2010, I argued <a href="https://christopherjoye.blogspot.com/2010/05/comparing-1987-and-2007-stockmarket">here</a> that there was every chance the 2007-08 crash would resemble its 1987 predecessor, and be followed by a protracted period of poor and volatile returns:



"2007 is looking eerily similar to 1987, at least judging by the equities market performance thus far...The bad news for equities investors is that it took until almost 1997 for the market to consistently recover its post-crash peak. Here's to hoping it does not take 10 years for the ASX to breach 6,800 points. (Note the 'dead-cat-bounce' in 1994.)"



In 2011 the Aussie share market is still 37% below its 2007 apogee with countless false dawns heralded by stock spruikers as the beginning of a new year of double-digit returns. It is an instructive exercise to troll back through either Business Spectator or the Australian Financial Review's “annual predictions” of where the share market will be in 12 months hence. It does not look pretty: according to the All Ordinaries Price Index, shares have delivered no net capital returns since 2005 (see chart, click to enlarge).
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyesept201.gif"><img src="/images/stories/joyesept201thumb.gif"></a>
Global shares have not been much better, and super funds, with their unnecessarily high weights to all forms of equities (another problem we have warned about for <a href="https://www.businessspectator.com.au/bs.nsf/Article/The-rocky-road-to-retirement-%24pd20090122-NHVS4?OpenDocument&amp;src=srch">many years</a>), have not protected investors. In fact, according to <a href="https://www.superratings.com.au/latestreturns">Super Ratings</a>, the average “balanced” or “conservative balanced” super fund has underperformed inflation over the last five years – that is, they have delivered negative "real" returns. The numbers look even worse if you allocated to any of the "growth" options offered by your super fund. Before inflation, the average five year return has been 0.5% to 1.3% per annum (after inflation, returns are substantially negative). 
Australian cash and fixed-income have been safe harbours during this turbulent time. Yet as the European sovereign debt crisis continues to rock the world, the risk is that the RBA temporarily "looks past" brewing inflation pressures, as many are calling on them to do, and cuts interest rates. 
In this respect, US investors have the worst of all possible outcomes: high inflation; low growth; low interest rates; and an extraordinarily volatile equities market. Many smart observers are recommending investors seek out "inflation hedges" in our increasingly “stagflationary” world, such as gold, commodities and even bricks and mortar. After years of selling their gold reserves, central banks are back buying again. And only yesterday Bloomberg published an <a href="https://www.bloomberg.com/news/2011-09-18/london-home-prices-surge-as-investors-seek-safety-in-property">article</a> with the headline "London Home Prices Surge as Investors Turn to Property Amid Market Turmoil." 
The inversion of the yield curve that I have been talking about regularly here has started reducing the term deposit rates offered by Australian banks. The concomitant benefit is that the price of fixed-rate home loans has also declined. If the RBA loses its nerve and cuts its official cash rate, I think we will see more capital shifted back into housing given its demonstrated value as a (relatively) safe store of wealth. This is one of the internal inconsistencies the extreme bears face: a recession means home loan rates are going to plunge, which will only help house prices in the unique Australian market where almost all debt is variable-rate. 
While the Aussie share market is still nearly 40% below its 2007 peaks, Australian house prices are about 10.3% above their pre-GFC highs. Notwithstanding this, we have had effectively no house price growth in nearly one and a half years while household disposable incomes have, according to the ABS, raced ahead at an 7% to 8% per annum rate. 
As other wise-heads have observed as we bounce from one crisis to the next, bad news sells and many cannot help themselves when it comes to peddling the end of the world. The online editors at the Sydney Morning Herald are a case in point, and especially fond of promoting doom-and-gloom. 
For example, last month RP Data-Rismark reported that house prices in <country-region>Australia</country-region>'s largest city, <place><city>Sydney</city></place>, had risen despite national values falling. The SMH nevertheless focussed on the national findings and subordinated the <city>Sydney</city> results, running with the headline "Prices fall faster in July" when, in fact, <place><city>Sydney</city></place> prices had actually appreciated slightly. 
If I search out "housing" or "house prices" on the SMH's website, recent headlines include, "Sydney housing in dire trouble", "Housing out of reach for many", "Housing shortage a myth, bears claim", "Domino effect shows as gloom spreads to housing", "House prices to stagnate as debt binges end", and "House prices to slide further in 2012". 
Now contextualise these claims against the hard fact that Australian capital city dwelling prices are merely 2.9% lower than their level of 12 months ago. That is substantially less than some of the more savage daily swings in the share market. Including rents, total gross returns realised by property investors have been positive! 
A more balanced analysis is that while the housing market is certainly soft, it is not collapsing, and, if truth really be known, we are seeing some partial, leading indicators that imply the market may be finding a base. 
The near-term outlook is, as I have been at pains to emphasise for the last 12 to 18 months now, heavily dependent on the course of interest rates, and, it would more recently appear, community perceptions of such. 
The conviction households have held that they would be smashed with at least two to three rate hikes this year has exacerbated the subdued conditions. But the hikes have not materialised, and economists, the financial markets, and journalists are all talking about the prospect of cuts, or at least rates remaining on hold for an extended period. 
Combined with a falling currency (currently down nearly 10% from its recent highs at just 1.018 US cents), which will help exporters and ex-pat demand for local homes, it is plausible that Australia's housing market is rapidly approaching a turning point. 
The final judge of this matter will, of course, be the house price data. But today it is instructive to review some of the aforementioned leading indicators. I would highlight three in particular. 
The first chart below shows the monthly number of AFG housing finance applications, which in August hit its highest level in 19 months. (AFG is <place><country-region>Australia</country-region></place>'s largest mortgage broker and accounts for about 10% of the market.) The three-month moving average is also trending up solidly following the flood-induced trough in January. Click to enlarge
 
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyesept202.gif"><img src="/images/stories/joyesept202thumb.gif"></a>
The second chart of interest illustrates the share of first-time buyers as a proportion of all borrowers. According to AFG, this hit a low of 9.5% in June 2010 and has gradually increased since to 13.8% in August 2011 (the enormous protrusion in the middle of the chart depicts the stimulatory effects of the government's first-time buyer boost). That is to say, there is some early evidence that first-time buyers are returning to the market given the improvement in housing affordability (ie, lower house prices in concert with robust disposable income growth). Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyesept203.gif"><img src="/images/stories/joyesept203thumb.gif"></a>
The final chart shows weekly auction clearance rates for Sydney, <place w:st="on"><city w:st="on">Melbourne</city></place> and a weighted-average of all capital cities (noting that the auction sales mechanism is more common in the two biggest conurbations). What we can draw from this is that since the second quarter of 2011 clearance rates have stabilised at slightly above 50% in Sydney and Melbourne, and slightly below this level across the combined capital cities. That is, there is no sign of a continued deterioration. Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyesept204.gif"><img src="/images/stories/joyesept204thumb.gif"></a>
The housing market probably needs a little more time to get accustomed to the striking change in interest rate expectations (ie, from several hikes to no hikes, or even cuts, if you believe AMP, Deutsche Bank, Goldman Sachs, Westpac or Macquarie). For what it is worth, I have not altered my own views, and still expect the next move to be up. But set against the cacophony of voices calling for easier monetary policy, my own opinions are likely irrelevant for overall consumer behaviour (having said that, consumers have had similarly hawkish perspectives to this point).



The next major marker will be the August house price index data. This will be a crucial guide to whether Australia's housing market is experiencing an accelerating decline, as folks like the perennial doomsayer <a href="https://www.propertyobserver.com.au/economy/when-harry-met-steve-a-bears-breakfast/2011091551566" target="_blank">Steve Keen would have us believe</a>, or treading water, as I think is much more likely.

Christopher Joye is a leading financial economist and works with <a target="_blank" title="Rismark International" href="https://www.rismark.com.au/">Rismark International</a>. Rismark and RP Data provide house price analytics products, and solutions that enable investors to go long and/or short the housing market. The above article is not investment advice.
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chrisjoye-JYhJsTrNRC

House prices merely treading water and unlikely to dive

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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.
 
In September <a target="_blank" href="https://www.propertyobserver.com.au/commercial/what-green-ratings-mean-for-commercial-property/2011081651174">I briefly explained to you the NABERS "green rating" system</a>, as it relates to commercial property.
Recent research (undertaken by the universities of Western Sydney and Maastricht in the Netherlands) has been released by the Australian Property Institute and Property Funds Association of Australia, under the title of Building Better Returns.
The report reveals that a five-star NABERS Energy-rated building would provide a 9% value premium overall, compared with buildings without any ranking.
Interestingly, there was no value premium found for office buildings below a three-star NABERS rating. In fact, rentals within these lower-rated buildings appear to be discounted by between 6% and 9%, compared with 5-star alternatives.
But that's not all bad news for landlords — because when times get tough, tenants tend to gravitate towards cheaper space.
Plus, with very few new five-star offerings currently in the pipeline, these lesser-rated buildings will experience significant rental growth over the next three to four years.
Bottom Line: If you do your homework, seek good professional advice and "cut your cloth" to fit within your budget, you can still make some serious gains over the next five years.
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

Green-star ratings can increase commercial rents

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There was a very interesting article by Chris Vedelago in The Age on Sunday concerning listings in Melbourne that have been hanging on the market for an extended period of time, and have subsequently dropped significantly in price.  I’ve often commented how good property will sell well in any market, and it’s an adage that carries a lot of weight.  Therefore, considering the catchy headline “The strange cases of the good houses that just won’t sell”, it’s worth noting in more detail why these Victorian listings in question haven’t sold, and whether we can attribute it to the current doldrums surrounding the real estate market, or if there are other factors to take into consideration.
<a href="https://www.realestate.com.au/property-apartment-vic-southbank-106952892">2506/83 Queensbridge Street, Southbank</a>, has reportedly been on the market since October 30, 2010. Listed initially at $2.15 million, the asking price has now reduced some $500,000 to $1.65 million. This property regularly features on <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/wa-landholding-makes-debut-on-sqm-discount-list/2011091451558">SQM’s top 10 most discounted list</a>. The property is a luxury penthouse apartment with a family-sized interior and views extending to Mt Martha.  Situated on the border of what is now considered the world’s “most liveable city”, it’s also in an area serviced by the best amenities Melbourne has to offer – so why hasn’t it sold?
Melbourne’s Southbank – once an industrial area – was initially converted into a high-density, high-rise city, in the 1990s as part of the urban renewal program.  Purchasing in a penthouse may sound like the lap of luxury, however it’s a common misconception and subsequently there is a very limited buyer market for this type of development.  Typically when built, high-rise developments will sell at the lower levels before the upper levels.  This is because buyers like a sense of relativity.  There’s something rather unnatural about being perched up high.  Even though the adverts spruik stunning city views and close proximity to inner-city amenities, if you dip into the archives and read about the experiences of residents who have lived in these developments, they often paint descriptions akin to living in a hotel room rather than a ‘”home”.  The lifestyle lacks a sense of community and can be very sterile – therefore there are often reports of renters not fulfilling their promised term of tenancy, units having high turnover rates, or views being built out – (not to mention the high owners’ corp fees which generate into the thousands – the higher up you are, the higher the bill).
This unit is right next door to Crown Casino.  The location may be OK for a holiday destination, but how many home buyers would want a large casino on their doorstep? Apartments like this are always sensitive to market movements and traditionally suffer high volatility. They appeal to a luxury elite market (often an Asian market who are more adept to high-rise living) and considering the global tribulation  we’ve experienced in recent times – there’s obviously not going to be a queue of buyers lining up for this type of development.  It passed in earlier this year for $1.35 million on what was reportedly a genuine bid – with a reserve of $1.6 million. The last comparable apartment to sell in the block went for $1.1 million at the end of the boom in 2007.  Therefore if you factor in the rises and falls the million-dollar-plus market has experienced since 2007, $1.35 million wasn’t a bad achievement!  After a year of marketing obviously the vendors aren’t under pressure to sell; therefore they may be able to hang out until we move into the next upturn of the property cycle and buyer activity increases.
<a href="https://www.realestate.com.au/property-house-vic-niddrie-107347511">23 Gallica Close,  Niddre</a> Situated 13 kilometres north west of the city, this property was initially listed on April 23, 2011 for $1,195,000, however the price has now reduced to $890,000. The house itself is unusual to say the least.  The room dimensions are compromised by a circular design, and it’s quite obviously something that would only appeal to the “odd” property buyer.  Furthermore, the street is on a very steep gradient, which further reduces its appeal.  I recall attending an auction in this street some years ago and struggling to stand upright or even obtain a secure foothold. Trying to sell a house like this in a soft market is always going to present a challenge – and even more so if not priced correctly.  As is typically the case when properties are overpriced, the vendors have only held the home for a short period of time.  This property was last purchased in March 2008 for $900,000.  They’re obviously hoping to cover their expenses and get a profit on the price they paid, however with a property like this, it’s not going to be easy in the current market.  It’s now listed for auction with a price quote of $890,000-$960,000.  Maybe it will have better luck finding a buyer as we move into the warmer months.
<a href="https://www.realestate.com.au/property-house-vic-brighton-107441405">118 Carpenter Street, Brighton</a> This might sound like a dream address.  After all, it’s close to Brighton’s top shopping strips, walking distance to middle Brighton train station, and in a suburb that’s tightly held because of its bayside appeal.  Considering it’s only 11 kilometres away from the CBD, you may be wondering why it hasn’t been snapped up.  Take a closer look and you’ll also see it also backs onto a train line, has a small land size for the area, and is situated next to a funeral parlour.  The home was initially listed on June 4, 2011 for $1.15 million, however after a few weeks and no result, the price was reduced to $890,000. Unfortunately it’s another example of vendors trying to get a profit after only a short period of ownership.  The house was initially purchased just over a year ago for $850,000 and therefore it’s unreasonable to expect a much higher price considering our current flat market conditions.  However in this case the price reduction worked.  The house sold earlier this month on September 2nd for a result just in excess of the last quoted price.
<a href="https://www.realestate.com.au/property-house-vic-hoppers+crossing-107436109">1/9 Albert Place, Hoppers Crossing</a>, - Situated 23 kilometres west of the CBD, Hoppers Crossing isn’t one of the most sort after locations in Melbourne.  However the median house price in this area is currently $330,000 and considering this is $260,000 below the metro median, it’s obviously going to attract buyers looking for affordable options within a commutable distance to the CBD.  There’s nothing quintessentially wrong with this property, however it does have a rather unusual looking blue facade that won’t hold wide appeal.  It was initially listed May 27th for $545,000 however it’s now advertised at $400,000-$425,000. It’s on a subdivided smallish block of land and yet homes in the same street, on larger blocks of land, have been selling in the mid $300,000 – that’s some $100,000 less than the current advertised price range.  Therefore until the vendor is willing to “meet the market”, it’s unlikely to achieve the desired result.
It’s always hard to be completely accurate assessing a property’s worth without viewing it, however we live in one of the most transparent real estate markets in the word and there is a myriad of information available to help home buyers assess comparable value before they dig into their wallets.  Purchasers are generally taking a cautionary approach to property buying.  Vendors who need to sell have been forced to “meet the market”, and if they’ve held their homes for an extended period of time, they have no doubt made a profit upon the initial purchase price.  However those that aren’t under pressure to sell will have to hold out for better times if they want to achieve the ‘wish’ price many of them are still expecting. Good property will sell in any market, but poorly located homes that are generally overpriced won’t!
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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If a vendor won't meet the market, the property will not sell

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A record $2,365,000 has been paid for a Millers Point terrace, part of Housing NSW's extended sell-off of historic terraces to raise funds for new housing estates in other Sydney suburbs.
Toxteth, built in 1869 in the grand Georgian style at the foot of Observatory Hill, came with the rare bonus of triple parking.
The townhouse with seven bedrooms has a 10-metre Kent Street frontage.
The sale was through by Andrew Stewart and Lorraine Crawford from Di Jones Real Estate.
Beginning in 2008, the Millers Point sales are part of a rationalisation by Housing NSW, which owns 80% of properties in the area, inherited from the Maritime Services Board in the 1980s.
More than $20 million has been recouped from the 20-odd sales, according to Australian Property Monitors.
The department does not have the funds to renovate them so has been using the proceeds to build public housing in the inner west for the elderly, families in need and the disabled.
The new leaseholders are required to restore them to their former glory, conforming with heritage guidelines.
The previous highest departmental sale was $2.1 million. The cheapest property in the group sold for about $840,000.
Privately held Millers Point houses have sold for much higher prices.
The former state Labor government's policy was that the Millers Point public housing estate remained an important part of the NSW government’s social housing portfolio. "However, as many of the department’s properties in Millers Point are of significant heritage value they require major financial investments to meet heritage requirements,” the department says.
"As the department has limited resources which must be focused on delivering homes for those most in need, meeting these heritage liabilities is increasingly challenging.
'By offering long-term leases on these properties to the private sector we will unlock their value whilst keeping government ownership of the property."
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