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.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

[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>

&nbsp;

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

<html><body>
Palace Cinemas has been selected as the preferred operator of the proposed five-screen cinema complex on the former Stamford Plaza and Ritz Carlton hotel site in Cross Street at Double Bay.
The upmarket cinema complex features in revised plans from Scarborough Pacific to develop the site with a PTW-designed U-shaped building that is no higher than the existing structure.
“Palace has been looking for some time for the perfect location to expand our operations in eastern Sydney,” says managing director and founder of Palace Cinemas Antonio Zeccola.
“The local community really felt the loss when the much-loved cinemas on New South Head Road closed several years ago, and I’m sure they will be delighted with the news that Palace will bring the very best in high-end cinema experience to Double Bay.
“Our patrons will enjoy the amenity that Double Bay brings – lovely restaurants, beautiful retail and convenient parking – and, of course, the presentation of the best of international cinema for which Palace is celebrated.”
The loss of the previous Greater Union cinema on New South Head Road was blamed for contributing to <a target="_blank" title="Double Bay" href="/news">Double Bay</a>’s economic woes. The Greater Union cinema complex in Double Bay closed its door to patrons in 2004.
It had enjoyed a monopoly ever since the rival 1930s Hoyts palace, then known as The Vogue, which seated 1,388, was demolished in 1963.
Last November Woollahra Council approved a proposal for a 150-seat rooftop cinema in Double Bay. Anecdotal evidence suggests the developer did not proceed with the proposal due to the required cost of building upgrade works.
“A cinema is what many local residents told us they wanted,” says Nicki Garrett, a Scarborough Pacific director.
The development application is currently awaiting Woollahra Council approval. The proposal seeks to demolish the existing Stamford Plaza Hotel structure and construct a mixed-use development with retail, five cinemas and 78 residential apartments. The existing car park, with 154 spaces and vehicular entry, will be retained.
The five cinemas will be capable of accommodating a maximum of 600 people.
Above the ground floor level will be seven levels of residential comprising 30 three-bedroom, 28 two-bedroom, and 20 on- bedroom apartments.
The floor area of the retail and cinemas component will be 5,472 square metres. The floor area of the residential component will be 13,135 square metres. The gross floor area will be 18,607 square metres.
The original proposal incorporated a nine-storey mixed-use building.
The Joint Regional Planning Panel will be the determining authority for this development application.
In May 2010 Scarborough Group International launched Scarborough Pacific, a fund management and property development company.
Kevin McCabe is the founder and chairman of Scarborough Group International, a real estate and leisure activities group wholly owned by the McCabe family.
The key investors in Scarborough Pacific are Pacific Shopping Centres and Melbourne investment fund manager Acorn Capital.
Scarborough Pacific’s first major project will be the development of the former Ritz Carlton site, with a gross realisation of $260 million.
The company secured the management of two wholesale development funds of the Ashington fund management and property development company Ashington Development Fund 1 and Ashington Development Fund 2.
Scarborough Pacific indicated it would work with the investors in the Ashington funds to pursue the development of the former Ritz Carlton site.
</body></html>

jchancellor-FAypfDUnLy

Palace to bring popcorn back to Double Bay

<html><body>
Duncan Johnston, executive chairman of Collins Booksellers, cannot quite believe the rent-crunching deal just negotiated for one of the chain’s bookshops to take a large space in a top Westfield shopping centre. 
Johnston says Collins has negotiated a 50% reduction on the rent paid by the previous tenant, Angus &amp; Robertson. “They came chasing us,” says Johnston. “They really wanted a bookshop.” 
While <city><place>Johnston</place></city> says the big shopping centres can really “take a hit” when a major tenant fails, he readily agrees that shopping strips are being much worst hit as shoppers effectively go on strike. 
The plight facing retail landlords and retailers was starkly documented this month when the Australian Bureau of Statistics released its June quarter retail trade figures showing that sales rose by only 2.6% in 2011-12. This is the slowest annual growth in 50 years. 
Countless landlords in shopping strips are immediately facing rising vacancy rates, falling rents and departing tenants while heavyweight shopping centre landlords remain relatively insulated – at least over the short-term. 
This is widening the gulf in the fortunes of shopping centres and shopping strips. 
Johnston says Collins would have had had more approaches in the past three weeks than over the past 12 months from landlords asking the chain to take leases on vacant strip shops in the Melbourne CBD. 
Simon Wheatley, executive director for real estate research at Goldman Sachs, says shopping centre landlords are relatively cushioned from the retail downturn, in part because just 2% of their revenue is from turnover rents. The remainder flows from rents set in their long-term leases, which allow for annual rate rises. 
And generally major shopping centres can immediately fill vacancies left open by departing tenants. But, in some cases, the centres may have to offer special deals to win particular types of tenants – as illustrated by the sharply discounted rent recently negotiated by Collins. 
However, Wheatley emphasises that the big shopping centres will only remain cushioned for a limited time. “The occupancy cost ratios – the rent and outgoings as a percentage of total sales – have gone from about 15% for regional malls in 2005 to about 18% now, he says. 
“That’s a fairly substantial increase and is not sustainable long-term,” he says. “It is sustainable now because arrears levels are fairly low and we are seeing virtually no vacancies in shopping centres.”
Tomorrow Property Observer will give six tips for retail landlords.
Photograph by Ben King, courtesy of Tourism Victoria
</body></html>

mlaurence-vhAHaLZT8y

Some retail tenants have the upper hand in rent negotiation

<html><body>
The first social housing project in Australia to receive a five-green-star rating for environmental excellence has won Urban Development Institute of Australia New South Wales 2011 Sustainable Development Award at the institute’s annual awards.
The Lilyfield project in Sydney’s inner west has also received international recognition by being shortlisted in the World Architecture Festival awards in Barcelona in November.
Designed by HBO+EMTB for Housing NSW, the 88-unit multi-building complex features classic passive solar design, with all units enjoying north- or east-facing living areas and natural cross-ventilation.
Photovoltaic cells on panels concealed by a raked roofline provide solar hot water and on-site production of electricity.
Rainwater is collected in tanks for use in gardens, laundries and toilets.
“For the project to be successful it was essential to have a client who was fully committed to the underlying sustainability principles and an unwavering support for good design,” the project’s design director, HBO+EMTB director Gustavo Thiermann, says.
The 88 units in the Lilyfield development replaced 40 units in 12 two-storey blocks constructed in the 1950s that had proven costly to maintain and upgrade.
Part of the funding for the Lilyfield project comes from money raised from the sale of 99-year leases on heritage-listed Housing NSW properties at Millers Point.
Some 10% of the apartments are designed to the latest standards of accessibility for disabled occupants.
The development also features space for a community garden for tenants to grow their own vegetables and an informal play area, both of which are wheelchair-accessible.
There are compost bins near the community garden space and bicycle racks for secure bike parking.
The judging panel noted the Lilyfield project successfully addressed the three pillars of sustainable development: environmental, economic and social performance.
</body></html>

Sydney social housing development wins green design award

<html><body>
Former Queensland property spruiker Dudley Quinlivan has been unsuccessful in applying to the High Court of Australia to lower his five-year company directorship disqualification.
ASIC disqualified Quinlivan from managing corporations for three years in 2008 and after an appeal to the Administrative Appeals Tribunal it was subsequently increased to five years.
He was long regarded as at the vanguard of selling overpriced southeast Queensland properties to mum and dad investors lured from other states, a claim he denied as recently as last year.
Quinlivan was disqualified due to his involvement in 14 companies that were wound up in insolvency between 2002 and 2007: National Consolidated Investments Pty Ltd, Coastal Administration Services Pty Ltd, Remi Morgan Burns Pty Ltd, Australian Financial Management Corporation Pty Ltd, Consolidated Property Investments Pty Ltd, Manorbase Pty Ltd, First Home Buyer (Aust) Pty Ltd, Ausblue Pty Ltd, Shellston Pty Ltd, Coventry Finance Pty Ltd, Rental Options Pty Ltd, Statefort Pty Ltd, Freedom Mortgages Pty Ltd and Scottsdale Homes No 10 Pty Ltd.
In the period between ASIC’s original decision to disqualify Quinlivan and the hearing of the AAT review, further companies associated with Quinlivan entered external administration. In light of these additional circumstances, ASIC expressed concern that Quinlivan continued to be involved in large-scale property developments and asked that the AAT disqualify Quinlivan for five years.
He was once denounced in Queensland's Parliament as the "King Con" of property marketeering schemes.
The AAT decision was appealed to the Full Federal Court, which affirmed the decision.
In January 2011, the 67 year old Quinlivan applied to the High Court of Australia for special leave to appeal the decision of the Full Federal Court.
After a brief hearing before the Honourable Justices Virginia Bell and Dyson Heydon AC, Quinlivan’s application was dismissed and costs were awarded to ASIC.
ASIC Commissioner Dr Peter Boxall says ASIC’s action against Quinlivan was consistent with its focus on improving industry standards and ensuring investors feel confident and informed.
</body></html>

Former property spruiker's five-year directorship ban upheld

<html><body>
While speculation continues about the Melbourne market being both oversupplied and overvalued, some estate agents are reporting stock shortages in key suburbs, with demand outstripping current supply, particularly for well-located houses.
Buyers should remember that property is an individual proposition and that they should take into consideration the micro-economic factors and specific qualities of the area and property they are considering for purchase, according to buyers’ agent Greville Pabst.
“The sweeping generalisations made by some commentators about Australia’s property markets can have a powerful impact on sentiment and therefore on buyer confidence,” he says.
“As the weather improved Melbourne property markets saw a welcome jump in buyer activity at the weekend’s auctions, pushing the city’s clearance rate to 60%, according to the REIV.
“The renewed confidence from some buyer groups is a positive sign in the lead-up to spring, with a ripple effect expected to create further activity as more buyers follow the lead back to the marketplace.
“However, some scepticism remains about the market returning to full swing in spring, with predictions of only a slight rise in weekly clearance rates to mid-60% during the traditionally busy season,” he suggests.
The suburbs consist of mostly inner-eastern suburbs including East Melbourne, Richmond, Hawthorn and Hawthorn East, Armadale, Toorak and South Yarra. Brunswick was another.
“A quick review reveals that all these suburbs, with the exception of South Yarra [which had one], haven’t had even a single new listing in the last week.
“The shortage in listings is unlikely to improve in the next fortnight in light of the AFL grand final, which is scheduled for October 1.
“This is because a typical auction campaign lasts approximately four weeks.
“While listings for these properties should increase in mid-September there may be a slight lull again four weeks out from the Melbourne’s Spring Racing Carnival,” Pabst predicts.
</body></html>

Demand outstrips supply in select Melbourne suburbs: Buyers' agent

<html><body>
Property investors who put money into Queensland projects by Great Northern Developments have received compliance assistance from regulator ASIC, including being able to recoup their investments. 
Based in Richmond, NSW, Great Northern raised funds from investors through loan agreements and promissory notes to finance its property development projects. 
In September 2010 the NSW Supreme Court found that Great Northern Developments had contravened the Corporations Act by failing to enter into a trust deed and by failing to appoint a compliant trustee before making offers of debentures that require disclosure. 
Great Northern financial statements for the June 30, 2009 reported total loans owing of $34.8 million, with $24.16 million described as loans from “investors”. 
At the time of the September 2010 judgement, court documents named Christopher Edwards, Lawrence Robson and Christopher Hawkins as company directors. 
Court documents describe Great Northern as being “in the business of acquiring properties in Queensland upon which it constructs apartments for sale. 
“It appears from GND’s financial statements that as at 30 June 2008 and 30 June 2009 it held land for resale at Bundaberg, Gladstone, Cairns and Gympie, and a property called ‘Degon Property’.” 
According to ASIC documents, notice to wind up the company was submitted on August 6, 2009.
 In September 2010, the court accepted an undertaking from Great Northern that it would enter into a trust deed and appoint a trustee in compliance with the act.
However, Great Northern was unable to secure a trustee, prompting ASIC to assist Great Northern to comply by ensuring that: 
<ul>
<li>those investors who elected to continue with their investment were transferred to the La Trobe Australian Mortgage Fund;</li>
<li>the continuing investors obtained a mortgage over Great Northern’s properties; and</li>
<li>those investors who did not wish to join the scheme were fully repaid their original investment and interest.</li>
</ul>
ASIC commissioner Peter Boxall, says its action were consistent with ASIC’s objective of achieving compliance as a first step to safeguard investor funds. “Where appropriate, and in the best interest of investors, ASIC will take steps to ensure that fundraising schemes which might be operating outside the requirements of the law are made compliant so that investors are afforded the relevant legal protections,” he says.
The Great Northern website lists four Queensland developments in its property portfolio including a retirement village in Gympie, the SurfAir Resort on the Sunshine Coast, the Silhouette Apartments in Brisbane’s West End and the Kingsholme apartments in Methyr, in New Farm, Brisbane.
</body></html>

lschlesinger-FZcF9M3vE6

ASIC steps in to help Great Northern investors

<html><body>
Deputy RBA governor Ric Battellino says banks raising mortgage rates above the last official November rate increase have contributed to the current savings culture.
During a speech to investment managers in Sydney, he also highlighted next month’s inflation data as key to future rate decisions.
Taking a retrospective look at the economy over the past year, Battelino says the banks’ response following the November rate rise with “substantially larger increases – around 40 basis points” changed consumer behaviour.
“The size of this increase, and the controversy it created, seemed to have a noticeable impact on household behaviour. Consumer confidence fell, though to levels that were still above average,” he says.
“Coincidentally, there was a renewed step up in financial market volatility, stemming from the widening government debt problems in Europe; this probably also contributed to households becoming less confident,” he says.
Battellino said natural disasters had had the biggest impact on the domestic economy at the start of the year.
“As we moved into the early months of 2011, domestic economic activity was severely disrupted by floods and cyclones. The two main economic impacts were the sharp fall in coal production and the destruction of the Queensland banana crop.
“The former meant that GDP was likely to fall in the March quarter, before recovering in the June and September quarters, while the latter meant that CPI inflation would spike higher over the year ahead due to a sharp, yet temporary, increase in banana prices.”
Domestic concerns shifted to global worries by the middle of the year.
“At the time of the July RBA monetary policy meeting, global economic growth had eased, and the downside risks stemming from the European debt problems looked more significant. In Australia, households remained cautious and the housing market was soft.
“Also, it now appeared that the slow recovery in coal production would mean that earlier GDP forecasts for 2011 would not be met. Nonetheless, the medium-term outlook for the Australian economy remained strong. In these circumstances, the board continued to hold rates steady, noting that the CPI outcome to be published in the next month would provide an update on inflation,” he says.
Decisions about interest rate policy through the remainder of the year, he said, would be a balance of these various forces.
“This challenge remains. In fact, with the recent volatility in financial markets adding to the uncertainty about the economic outlook, it does not look like the challenge will become any easier over the months ahead.”
Battelino summarised the three major trends for the year to date as:
<ul>
<li>First, the effects of the mining boom have turned out to be stronger than expected a year ago. The terms of trade are noticeably higher and forecasts for national income and mining investment have been revised up over the year.</li>
<li>Second, despite this strength in the mining sector, overall economic growth is turning out to be weaker. The forecasts published earlier this month reduced growth in GDP for 2011 to 3¼%, versus 3¾% expected last November. </li>
<li>Third, inflation outcomes for 2011 are likely to turn out to be higher than thought last November, both in headline and underlying terms. Inflation forecasts for the longer term have risen to be a little above the top end of the target range.</li>
</ul>
</body></html>

Banks and bananas to blame for savings culture: RBA

<html><body>
Rising interest rates, flat house price growth and an insufficient transport system will continue to weigh on traditional house building activity, according to the Mirvac Group.
“Demand was likely to remain biased towards higher-density living,” its latest annual report has forecast.
It was particularly the case in NSW, the home builder suggests. Mirvac has $980 million worth of exchanged residential pre-sales across three states extending to 2014. Some 40% of its 2011 buyers were upgraders and empty nesters. Investors constituted 30% as did first home buyers.
Mirvac’s recent settlements were at a $1.75 million average apartment price, its house settlements average $689,000 and its land settelements averaged $245,000.
Its report noted that NSW dwelling construction has failed to keep pace with growth in population which has contributed to both low dwelling vacancy rates and solid rental growth.
“Reflecting poor housing affordability, long commuting times to work and a changing ethnic mix, the improvement in dwelling approvals has been dominated by units and apartments, a trend which looks set to continue,” it notes.
But Mirvac suggests even though there has been an improvement in dwelling construction, it was likely to be insufficient to keep pace with demand, further increasing the NSW dwelling shortfall.
In Victoria continuing land release, state government grants and robust population growth, had delivered strong growth in residential construction.
“More recently, the strength of dwelling construction has been driven by medium-density dwellings.
“Even though economic conditions in the state remain favourable, more moderate population growth points to a slower pace of construction activity in the future,” Mirvac expects.
The Queensland residential property market had been adversely impacted by a combination of weaker interstate migration, the rising A$, a slowing in net overseas migration, soft economic conditions and natural disasters.
“The near term prospects remain uninspiring but, longer term, the significant investment by the resource companies, in tandem with a pick-up in population growth, should lead to greater impetus in the state economy and the residential housing market.”
Mirvac suggests after significant price increases during the resources boom, house prices in Perth had exhibited the greatest weakness.
“Additionally, the accompanying sharp slowdown in population growth reduced dwelling demand.
“With the second resources investment boom starting to unfold this should herald stronger dwelling demand and, with it, a firming of property prices.”
</body></html>

House building activity to remain subdued: Mirvac 

<html><body>
Mirvac’s retail portfolio has defied the current retailing gloom by delivering solid growth, with food majors Coles and Woolies accounting for a quarter of rental income.
Net income from retail assets increased by 4.3% to $125.9 million for the year ended June 30, 2011 with occupancy increasing from 97.9% to 99%.
The annual results reveal that more than a third (37%) of retail rent comes from food retailers with its top two tenants by income being Coles (12.4%) and Woolworths (11.6%). A distant third is the Reject Shop, bringing in 1.2% of annual rent.
Fashion stores bring in 19% of retail rent.
Occupancy costs remain “sustainable” at 13.2%.
The developer says its retail portfolio is well positioned with an 84.7% weighting to retail centres driven by “non-discretionary spending”.
Retail assets account for about 30% of Mirvac $5.9 billion property portfolio with the developer saying it will keep its weighting at this level going into 2012.
More than three-quarters (77.6%) of Mirvac’s retail assets are sub-regional shopping centres including the Taree City Centre, Ballina  Central and Kawana Shoppingworld on the Sunshine Coast.
CBD retail makes up just under 10% of the portfolio, with the North Sydney Greenwood Plaza and Melbourne’s Moonee Ponds Central the most notable assets in this class.
Mirvac expects the retail sector to remain subdued going into 2012.
“The outlook for the retail sector remains mixed. The possibility of higher interest rates and a recent softening in employment growth, together with an increase in the saving ratio has constrained consumer spending,” the annual report says.
“The saving ratio will, at some stage, stop increasing, while personal income should continue to grow; all of which should stimulate spending. Against this backdrop, there is expected to be little change in the average vacancy rate in the retail sector over the next six months.”
Overall, Mirvac delivered annual operating net profit after tax up 30.2% to $358.5 million.
</body></html>

Coles and Woolies help Mirvac deliver 30% profit increase

<html><body>
There is some good news for struggling leisure operators in Queensland with a rosier outlook forecast for 2012, according to the Deloitte third-quarter Hotel Market Outlook.
The report confirms the two-speed state of the hotel sector – CBD business hotels strong, regional leisure hotels struggling – revealed in recent ABS accommodation statistics and other hotel reports.
However, year-end results for the Gold Coast market have been revised upward following a stable June quarter.
Deloitte expects the Gold Coast occupancy rate to rise to 67%, down only 1% from 2010, with average room rates set to reach $135, up 2% from 2010. Revenue per room (RevPAR) is anticipated to reach $91, increasing nearly 1% on 2010.
By 2012, occupancy levels are likely to increase by 2% to 69%, average room rates up by 4% to $141 and RevPAR rates of $98, representing a growth of 7.7%.
“Further increases in forecast results have been made for 2012 also due to anticipated improvements in domestic and international travel to the region,” the report says.
<img src="/images/stories/fnq-hotels.gif">
Forecasts have also been revised upwards for Tropical North Queensland following greater than anticipated demand and the diminishing impact of natural disasters. 
For 2012, the occupancy rate is expected to increase by 3% to 59%, the average room rates is forecast to increase by 1% to $119 and RevPAR is set to reach $70, an increase of 6%.
<img src="/images/stories/gchotsl.gif">
“Leisure destinations are fighting to maintain occupancy levels though, often at the expense of growth in room rates.  There is increased upside however, with the longer term outlook for the leisure segment improving over our previous forecast,” says Deloitte’s national leader for tourism, hospitality and leisure, Rutger Smits. 
The report highlights the impact of the Australian dollar quoting the Tourism Forecasting Committee, which recorded a negative net outflow of visitors of more than 1.5 million in May this year
 
“Australians are now holidaying in the rest of the world instead of at home, while foreigners are being deterred by the sheer strength of the Australian dollar,” the report says. 
City-based business hotels continue to perform at record levels due to rising business demand with Sydney leading the pack, followed by Melbourne.
Sydney hotel occupancies are expected to rise from a record 86.4% for the 12 months to June 2011 to 87.4% by 2012. Deloitte is forecasting 12% room rate growth with RevPAR for year-end 2012 projected at $187, down from $193 in previous projections.
Melbourne occupancies stand at 80.9% room occupancy for the 12 months to June 2011 with Deloitte forecasting an occupancy rate of 81.4% room, a room rate of $196, with RevPAR growing by 9.5% to $159.
More growth is forecast for the rebounding Brisbane market in 2012 with room occupancies reaching 82.7% by the end of 2012.
Perth’s reliance on business travel and reduced demand from leisure visitors, means forward estimates have been revised downwards though are still very healthy. RevPAR forecasts for 2012 have been reduced from 23% to 20% due to slower occupancy growth, with rate forecasts maintaining at $206 and occupancy forecasts down from 89% to 87%.
The RevPAR forecast for 2011 remains unchanged at $93 and 4.9% growth over 2010.  The report has increased the occupancy outlook from 63.5% to 64.3% finishing the year at $153, a 5.6% improvement over 2010.
The RevPAR forecast for 2012 has been revised downward slightly from $100 to $99, with slightly higher occupancies and lower room rates.
</body></html>

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News