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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Half-year results released by Westfield reveal a widening gap between the rents it charges specialty tenants in Australia versus those charged in the UK and US. 
Rents charged speciality tenants in Australian and New Zealand have grown by 4.3% over the six months of the year to $1,444 per square metres. 
In comparison rents charged tenants in the US are up 2.7% in the to about $650 per square metres while in the UK rents have fallen by 3.6% to about $1,260 per square metre. 
Westfield shopping centre performance
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="103">
 
</td>
<td valign="top" width="115">
Occupancy
</td>
<td valign="top" width="107">
Speciality rents per square metre
</td>
<td valign="top" width="103">
Increase in six months to June 30 2011
</td>
<td valign="top" width="89">
Speciality sales growth
</td>
</tr>
<tr>
<td valign="top" width="103">
Australia and NZ
</td>
<td valign="top" width="115">
99.5%
</td>
<td valign="top" width="107">
$1,444
</td>
<td valign="top" width="103">
4.3%
</td>
<td valign="top" width="89">
1.8% (Aus)
1% (Nz)
</td>
</tr>
<tr>
<td valign="top" width="103">
UK
</td>
<td valign="top" width="115">
98.5%
</td>
<td valign="top" width="107">
$1,260
</td>
<td valign="top" width="103">
-3.6%
</td>
<td valign="top" width="89">
20%
</td>
</tr>
<tr>
<td valign="top" width="103">
US
</td>
<td valign="top" width="115">
92%
</td>
<td valign="top" width="107">
$650
</td>
<td valign="top" width="103">
2.7%
</td>
<td valign="top" width="89">
6%
</td>
</tr>
<tr>
<td valign="top" width="103">
Group
</td>
<td valign="top" width="115">
96.7%
</td>
<td valign="top" width="107">
 
</td>
<td valign="top" width="103">
3.2%
</td>
<td valign="top" width="89">
 
</td>
</tr>
</tbody></table>
Source: Westfield half-year results June 2011 
The increase in rents in Australia was not matched by a rise in speciality sales. 
Sales over the six-month period increased by just 1.8% in Australia and 1% in NZ compared with a 20% increase in sales in the UK and a 6% increase in the UK. 
In its submission to the productivity commission earlier this year Westfield defended the high rents it charges as fair given the amount of people who visit their centres. 
The high rents do not appear to be discouraging tenants in Westfield stores in Australia and New Zealand, with more than 1,500 deals completed over the six-month period representing about 200,000 square metres of space. 
Westfield’s 44 shopping centres in Australian and New Zealand also have the highest occupancy rate (99.5%). 
For the year to June net profit of $650 million was recorded, in line expectations.
Westfield Group CEOs Peter Lowy and Steven Lowy say the results are consistent with full-year earnings and distribution forecasts and demonstrate the resilience of the business and the continuing improvement of the operating platform.
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Gap widening between Aussie and overseas retail rents: Westfield

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The average time it takes a couple to save for their first house deposit has eased to 4.1 years, a slight improvement from 2010’s figure of 4.3 years.
But it is still substantially longer than five years ago, when it took first-home buyers an average of 3.8 years to get onto the property ladder, according to a Bankwest survey. 
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/firsthomechart1large.gif"><img src="/images/stories/firsthomechart1.gif"></a>
Source: Bankwest (Click chart to enlarge)
First-time buyers saving 20% of their annual income in Sydney have to save for the longest period of time (5.7 years) to buy a house, followed by Melbourne (5.4 years), while those living in Brisbane, Adelaide and Hobart don’t have to save for quite as long (all four years) to get a foothold on the property ladder.
In Perth, Canberra and Darwin it would take a first time buyer 4.2 years to save a deposit.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/firsthomechart2large.gif"><img src="/images/stories/firsthomechart2.gif"></a>
Source: Bankwest (Click chart to enlarge)
Saving to purchase a first home in regional areas takes 2.7 years, according to the report.
“Over the past year, all capital cities have seen a modest improvement in the time it takes a first-home buyer to purchase their first property,” Bankwest senior analyst Tim Crawford says.
“But if first-time buyers located in capital cities around Australia started saving now they would be in a position to purchase their first home in early 2016, whereas in regional areas this would be in autumn 2014.”
The report notes that in the past financial year there were 90,210 first-home buyers across Australia, which was 35% lower than the previous year and represented a seven-year low.
Based on a 20% deposit for the median national house price ($437,500), first-home buyers across Australia would need to save an average of $80,500, compared with $62,100 in mid-2006.
Across capital cities, first-time buyers have to save an average of $93,313, which is $24,613 more than five years ago.
The report notes over the past five years house prices have risen by 27% compared with a 21% increase in wages.
It is based on a 25- to 34-year-old couple saving 20% of their combined pre-tax income annually.
“In order for the property market to prosper there needs to be a consistent number of first-time buyers as historically this has been the catalyst for growth in the sector,” Crawford notes.
For apartments, the longest savings times for a deposit for the median unit are in Sydney (4.1 years) and Melbourne (4.1 years).
The smallest savings times for a unit deposit are in Hobart (2.9 years) and Adelaide (3.1 years).
The data for the First Time Buyer Deposit Report was derived from the Australian Bureau of Statistics census, the ABS Wage Price index with house prices from Residex.
Bankwest’s researchers analysed local incomes of potential first-time buyers – measured by census data on incomes of 25-to 34-year-olds – along with local house and unit prices.
Calculations are based on first time buyers saving 20% of the median house or unit price, including available first home owners’ grants.
Deposit savings times have been calculated on the basis of a first time buyer couple setting aside 20% of their combined pre-tax income annually.
The calculation assumes the savings are deposited in an online savings account each month and earn interest on this basis. Interest earned is assumed to be taxed at an individual’s marginal tax rate.
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Couples save for just over four years for first home deposit

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Prime Minister Julia Gillard seems set for new Sydney accommodation. Not Kirribilli House, the picturesque Gothic-style house on the harbour, but rather her Sydney office premises.
The Commonwealth Parliament offices, which house the prime minister and cabinet when they work in Sydney, is contemplating moving into the newly completed Dexus Property-built oval-shaped building at 1 Bligh Street.
Its current premises are Philip Street offices in Charterbridge House, a 14-storey building completed in 1987. The PM has a wood-panelled office dating back to a $250,000 fitout by Bob Hawke in the late 1980s.
The Commonwealth has confirmed it is considering its leasing options.
It ticks all the right boxes for the federal government.
With solar collectors on the roof, black-water recycling in the basement and fresh air in the 135-metre-high atrium, it appeals to the government’s green predilection.
The $670 million tower has been built to be the first high-rise office to win a six-star rating from the Australian Green Building Council.
And there will be a child care centre at ground level. There are bike racks and shower facilities, but only 96 car spaces.
The Labor government would also be supporting its union mates, as the partners with Dexus Property is the trade union backed superannuation fund CBUS Property.
Law firm Clayton Utz, the anchor tenant, committed in 2008 to about half the space.
The Bligh Street office tower has been to have asking rents for the top floors of about $1,100 to $1300, plus outgoings, according to the Australian Financial Review. This is about the second most-expensive office block in Australia. 
The Commonwealth is tipped to be seeking about 4,000 square metres of space.
Leasing agents are continuing to negotiate tenants for the top floors.
Its website says 1 Bligh offers whole floors of 1,637 square metres and suites of 320 square metres for lease in high-rise levels 17-28 through Rob Dickins at Savills and Mark Tindale and Grant Jennings at Cadigal Office Leasing.
The architects, the Australian practice Architectus and the German firm Ingenhoven Architects, came together for the design competition in 2006.
They were selected by a jury chaired by architect Graham Jahn.
The project cost $227 million, according to the latest annual results issued today.
It indicated 1 Bligh Street was 55% leased with a further 11% under advanced negotiations.
The $667 million development has been forecast to deliver a fully leased yield on cost of 7%.
Annual results released by Dexus today revealed a net profit  after tax of $553 million for the year ended June 30, 2011, an increase of $521.6 million over the previous year.
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Prime Minister Julia Gillard seems set for new Sydney office digs

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Retail rents are forecast to come under pressure in Adelaide’s premier shopping strip, the Rundle Mall, due to a rise in vacancies.
According to CBRE, vacancies in the mall rose to 3% in June 2011 compared with  2.2% a year ago, with the closure of Borders and Colorado the notable tenant departures.
The 1,800-square-metre, three-level store located at 97 Rundle Mall was vacated by Borders in June and remains listed for lease, with CBRE’s retail services manager Julia Pottenger and Lou Rentis from Brock Commercial Adelaide marketing the property.
A further nine shops in the mall are listed for lease on realcommercial.com.au.
Prescott Securities chief economist Darryl Gobbett told The Adelaide Advertiser in June the mall was struggling due to people spending their money on staple items like groceries and keeping their savings intact.
The 3% vacancy rate is figure is significant when compared with vacancy rates in other premier CBD retail strips.
On Sydney’s Pitt Street Mall, the vacancy rate has shrunk to just 0.6% while in the more subdued Brisbane market, the vacancy rate on the Queen Street Mall stands at 1.9%.
Overall CBRE’s Adelaide Retail MarketView report paints a picture of tough conditions for the retail sector, with many retailers opting to mark down and clear stock outside the traditional sale periods to create cash flow.
CBRE global research and consulting manager Kate Gray says a number of recent receiverships have also impacted the sector, causing the closure of three of the Colorado Group’s sites along with the Borders store on Rundle Mall.
“Retail property had performed exceptionally well compared to other property sectors during the GFC due to the stimulus packages offered,” Gray says.
“It is unsurprising that there are now signs of weakness, with 2011 likely to be a year of consolidation for the sector.”
According to Pottenger there is still demand for some high-profile locations such as Rundle Street and The Parade in Norwood.
The Parade and O’Connell Street have experienced declining vacancies and relatively stable rentals, with the vacancy rate on O’Connell Street decreasing to 3.2% in June from 4% a year before and the vacancy rate on The Parade falling from 5.3% to 4.3% over the same period.
However, vacancy rates on King William Road and Jetty Road have jumped to 5.4% and 6.3% respectively.
This has led to easing rentals on Jetty Road, where 13 shops were vacant as at June, with a further two stores being advertised for lease with a sitting tenant.
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Vacancies rise on Rundle Mall in weakening Adelaide retail market

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As we look back on 2011, Property Observer is republishing some of our most noteworthy observations of the year.
 
Baby boomers are facing an enormous challenge. And the sad fact is that they are probably not even aware of the problem.
You see, if they haven’t sold their traditional inner-suburban homes before 2012 they need to be prepared to hold onto them until 2025, because there simply won’t be a market for that type of property before then.
Unlike their parents, boomers will not wait until they are about to be carried out of their present homes before deciding to move. No, they see the next 20 to 30 years as a new chapter in their lives – where they'll want to downsize and start living for themselves.
Sure, they may need to crowbar the kids out first. Or maybe just move to an apartment or a townhouse with a couple of spare bedrooms.
Either way, they are about to start their decision process and will be doing it en masse. And therein lies the problem, when it comes to selling the traditional family home.
The problem is not that there will be any fewer buyers. Rather, that there will be about five times as many of these types of properties on the market over the next 12 to 15 years.
What exactly does this mean?
Despite residential property being currently on the doldrums, statistics tell us that about 60% of the average household wealth is tied up in your family home.
As such, the baby boomers’ equity is now at risk. And, potentially, this will affect them in one (or more) of three ways:
1. Those who have used their equity to finance pre-retirement property investments could well discover they actually have a negative equity in the family home.
2. They suddenly discover that the funding for their retirement plans could come up rather short.
3. The inheritance their children are expecting could be significantly reduced.
As you can appreciate, there could well be a number of people who might not be aware they have a problem, and may, quite unwittingly, are leaving themselves exposed.
Please understand that you're certainly not talking about "trophy" homes here. It is principally those three- to five-bedroom homes in the inner-middle suburbs of Brisbane, Sydney and Melbourne within the $1 million to $4 million price bracket.
These homes in some cases may have been last renovated 30 years ago, and now they represent mainly land value.
For Brisbane, this would involve suburbs like <a target="_blank" title="Bardon" href="/news">Bardon</a>, <a target="_blank" title="Mount Coot-tha" href="/news">Mount Coot-tha</a>, <a target="_blank" title="Stafford" href="/news">Stafford</a>, <a target="_blank" title="Ascot" href="/news">Ascot</a>, <a target="_blank" title="Mount Gravatt" href="/news">Mount Gravatt</a> and <a target="_blank" title="Woolloongabba" href="/news">Woolloongabba</a>.
For Sydney, it would include <a target="_blank" title="Mosman" href="/news">Mosman</a>, <a target="_blank" title="Chatswood" href="/news">Chatswood</a>, <a target="_blank" title="Roseville" href="/news">Roseville</a>, <a target="_blank" title="Killara" href="/news">Killara</a>, <a target="_blank" title="Gordon" href="/news">Gordon</a>, <a target="_blank" title="Warawee" href="/news">Warrawee </a>and Turramurra.
And for Melbourne, suburbs like <a target="_blank" title="Kew" href="/news">Kew</a>, <a target="_blank" title="Camberwell" href="/news">Camberwell</a>, <a target="_blank" title="Hawthorn" href="/news">Hawthorn</a>, <a target="_blank" title="Armadale" href="/news">Armadale</a>, <a target="_blank" title="Malvern" href="/news">Malvern</a>, <a target="_blank" title="Malvern East" href="/news">East Malvern</a>, <a target="_blank" title="Brighton" href="/news">Brighton</a>, <a target="_blank" title="Elwood" href="/news">Elwood</a> and <a target="_blank" title="Sandringham" href="/news">Sandringham</a>.
Historically, your family home has been considered to be a de facto part of your superannuation. However, as a Baby Boomer that could well prove to be a myth — unless you make the move to downsize early, and beat the rush.
All the financial crisis has done is delay the start of this process a year or two, due to the general uncertainty.
As a general comment, during this period, the baby boomers will tend to live where they now holiday, and holiday where they now live. So in the city they will seek a scaled-down version of the level of comfort they now enjoy – preferably in the same neighbourhood.
The concept of a retirement village is not on their agenda, but the boomers haven’t really thought through their ongoing needs. Likewise, developers are not seriously addressing the key issues involved.
Unlike their parents, who generally left their downsizing until their frailest years, Baby Boomers will make their move while they are still fit. And they will probably not plan to move again.
The baby boomers’ relative fitness (or perhaps being in denial about growing old) that will cause them to choose their new home, while paying scant regard to becoming less mobile or becoming suddenly lonely when one partner dies.
Therefore, in order for their new downsized home to have enduring value, baby boomers need to pay close attention to both their physical and community needs.
While this may represent quite a challenge it also provides a fruitful niche market for the astute developer.
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 target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">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

Baby boomers: Sell now or forever hold your family home

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The amount of industrial space under construction in Sydney is expected to triple in both 2011 and 2012, according to research by CBRE. 
About 360,000 square metres of industrial space was completed in in Sydney in 2010, but an annual average of 1.2 million square metres will be built in 2011 and 2012 annually, according to CBRE’s latest Sydney industrial market report. 
Recovery in the Sydney industrial market and demand for space from large retailers and third-party logistics providers is encouraging developers including Dexus, Australand and Goodman to undertake speculative projects. 
More than half (720,000 square metres) of the speculative development will take place in the outer northwest of the city near Eastern Creek. 
Significant projects near Eastern Creek due to be completed over 2011-12 include distribution centres for Kmart (51,569 square metres), Ingram Micro (38,618 square metres) and Metcash (80,000 square metres). 
CBRE is forecasting that net face rents in Sydney will grow by 2.4% over the full 2011 year and by a further 3.1% in 2012, with incentives beginning to decline and tenant demand on the rise. 
“An abundance of new supply is forecast as developers and investors capitalise on the industrial supply shortage across metropolitan Sydney,” says CBRE research analyst Gareth Dingle. 
“Approximately 89% of the new supply due to complete in 2012 will take place in the outer west, underpinned by demand from large retailers and third-party logistics providers.” 
CBRE regional director of industrial, logistics and investments Joshua Charles says key infrastructure continued to be the main driver of demand for industrial property throughout Sydney. 
“As occupiers look to cut costs along their supply chains, infrastructure is a critical consideration and this is driving demand in markets such as the Outer North West where 723,468 square metres of space is due to be completed in 2012 – the highest level on record,” he says. 
“The continued recovery of the industrial market is expected to be slow but sure over the coming years and will be fuelled by increasing container throughput at Port Botany and projected positive growth in industrial production.” 
Other forecasts: 
<ul>
<li>stronger year ahead for Sydney’s north, with new construction expected to increase from just 5,000 square metres last year to over 42,000 square metres in 2011. </li>
<li>In the central west, new supply remains subdued however demand is expected to be bolstered by the completion of the Enfield Intermodal Logistics Centre.</li>
</ul>
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Sydney's industrial construction to triple in next year with Eastern Creek fillip: CBRE

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Even before the events that led to Global Financial Crisis Mark 2 unfolded a few weeks ago, it seems that many Australians had bid farewell to the days of excessive, frivolous spending as a new era of conservatism took hold in an environment of global economic uncertainty. 
Let’s be honest, it wasn’t really that long ago that most of us were living beyond our means, chalking up credit card debt and treating the equity in our homes as an ATM as we became caught in the grip of mass consumerism. 
However, a survey by the Boston Consulting Group revealed that now one in two Australians plan to reduce discretionary spending over the next 12 months and saving their pennies – just like our parents did in the “good ol' days”. And I expect this trend will only become more apparent in the next few months. 
Of course this will reflect on their intention to buy property as either a home or investment, which will in turn impact on property prices. 
According to the survey almost half of us (48%) intend to pull in the purse strings in the coming year, as opposed to only 10% who plan to spend more and 42% who are happy to continue with their current rate of spending. And unfortunately things have taken have taken a turn for the worse economically since the survey was conducted. 
Interestingly, the Boston Consulting Group consumer sentiment report revealed that the only other two nations who were as reluctant to spend their hard-earned cash were the UK and Greece. 
While this increasing tendency to save rather than spend will lead to tougher times in the retail sector, overall it's good news for the economic health of the average Australian’s home budget, which will be in better shape to handle the speed bumps the economy will place in our way in the months ahead. 
One side effect of lower consumer spending will be to help keep inflation under control, which in turn will reduces the likelihood of interest rates rising in the near future, providing home owners and property investors with some breathing space as we head into uncertain economic times. 
However, the question remains – will this desire to save catch on and continue into the future, given our underlying love of spending? 
According to James Goth, leader of BCG’s consumer practice in Australia and New Zealand, the research highlights a shift in values from “conspicuous consumption to conscientious consumption… It’s not just about the hip pocket, it’s about it being ethical to not waste money and those that are spending up are doing so for ethical reasons rather than for status.” 
“The GFC has led to a shift in attitudes in spending and an element of that is a shift from carefree spending,” he says. 
This change in consumer sentiment is one of the reasons our property markets have slowed down, and this trend will put a lid on property price growth for the next few months. 
But the property markets haven’t come to a halt. People are still moving house because we’re still getting married, having babies, changing jobs or getting divorced. And savvy investors are still buying properties, but fewer people are doing so, and that’s reflecting in fewer property sales and flatter prices. 
It’s just the current stage of stage the property cycle and this too shall pass. But in the mean time, smart property investors with a long term focus are taking the opportunity to buy counter-cyclically. A proven property strategy that has created substantial property fortunes for savvy investors. 
The way I see it, as the economic woes around the world gather pace and the stock markets tumble it is likely that more investors will look for a safe haven for their money, and put it into property. After all, that’s what they did after the GFC in 2008, the tech wreck of 2001 and the great stock market crash of 1997. 
And there’s no denying that things are probably going to get worse before they get better. This is a time for cleaning up the excesses of the past and getting our financial houses in order to move on to the next stage of the economic cycle, which is the recovery phase. 
However, if history repeats itself, as it surely will, while the majority of Australians will sit on the sidelines feeling sorry for themselves, successful investors are looking for and buying investment opportunities created by the change. 
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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While others tighten the purse strings, savvy investors are buying

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I can outline many reasons why I think interest rates should have fallen earlier this year.  These days, one’s reasoning has the most cut through if summed up in pithy quips – “two-speed nation”; “gloom and boom”; “paradox of thrift”; “OK but not happy” or my current favourite, “RVO” – Real Versus Official – economy, that is.
We can now, maybe, even add “GFC Mark 2” into the mix.
But for mine, interest rates are now, ironically, unlikely to fall.  In my opinion we are also unlikely to experience GFC Mark 2.  Remember, the share market isn’t the real economy. Ask yourself, did anything really happen last Thursday to make Apple, America’s most valuable company, worth $36 billion more than the day before?
The US downgrade is as much to do with politics as it is economics.  What we have witnessed (so far) is an overreaction and one which should, in time, correct itself.
There is no doubt that there is way too much debt in the world, that its geopolitical and economic structure is off-balance, and that Western governments continue to spend way beyond their means.  But we, as voters, get the government we deserve.  We demand that the government “spends tomorrow’s today”.  We don’t really want to save for a rainy day.  But gone are the days of “all things cheap”.  Some say we are just starting to enter the “peak of everything”.
Official interest rates, of course, stayed put earlier this month.  But for how long is questionable.  Since the release of the latest Australian inflation figures plus the US government downgrade, things have changed.
For those waiting for interest rates to fall, I now hope that you will be disappointed.  You should now also be careful what you wish for.  A drop in official interest rates would signal that Australia is close to recession.  Ironically, steady interest rates for the time being would do us more good in terms of confidence than a rate drop.  In short, the Reserve Bank is unlikely to cut rates in an environment with such serious market volatility.
So I hope, it is steady as she goes regarding official interest rates for the time being.
You see, and I do hope they are right, the RBA believes that our current economic malaise is only temporary, and that the economic softness (even despite recent events) is not entrenched.  In addition, as the central bank continues to point out, the Chinese economy remains sound – ensuring that commodity prices are healthy and the boost to the terms of trade remains intact.  Let’s hope that the RBA is right in this regard too.
Consumers are not spending out of choice rather than the inability to do so.  We need to be careful that we don’t “save” ourselves into demise – the classic paradox of thrift.
What is missing is a circuit breaker. For mine, that means government elections.
Most economic commentators, however, don’t understand why confidence is so low and hence we are not spending.  Most put forward last November’s rate rise, adverse weather events, weak overseas markets, stagnant job growth, falling house prices and rising household costs, to name just a few.  But very few realise – or are maybe too timid to say – that our overly frugal condition is largely self-inflicted.  We have elected (twice now!) a government that is largely incompetent, is anti-business and has little real interest in the economic wellbeing of the country.
Real inflation of course, not the official CPI measurement, but the increase most of us are paying for the essentials of modern life, is much higher than 3.6%.  Some estimate it is as high as 8.5% per annum at present.
Yes, a lift in official interest rates will have little impact on these rising costs, but we are not, as a nation, prepared to implement the things that would.  We need more tools in our economic tool belt – wholesale tax changes, a moving GST, far less governance, labour productivity reforms, a much higher migration intake, real town planning and most important of all, a long-term view.
A generational outlook is needed and not one based on a three-year election term – or worse still, one centred on the 24-hour media cycle.  But alas, the country isn’t mature enough for such a debate.
Several wise gentlemen, whose economic counsel I seek on occasion, believe that Australia’s cash rate will still rise by between 0.5% and 1.0% within the next 12 months or so.  The recent events will now most likely keep rates steady for the rest of calendar 2011.
So what impact will a 0.5% to 1% lift in the cash rate have on the new housing market?
Some great survey work to this end was recently completed by <a target="_blank" href="https://www.rbsmorgans.com/">RBS Morgans</a>.  Its recent survey of the construction industry found that 57% of home builders think that such a lift in interest rates would have a “very material” impact on housing activity. Western Australia and New South Wales, this survey suggests, would be worst hit, with each state scoring a 70% “very material” impact if rates were to rise. Queensland scored 60%, and Victoria just 30%.  Ironically, I believe that Victoria would be the worst hit when interest rates rise.  <a target="_blank" href="https://www.switzer.com.au/video/matusikaugust3/">Watch </a>here, if you are game!
Whilst some builders think that a rise in interest rates “would kill the market,” many of them believe that rate rises are on their way and most home buyers actually expect such.  The key is how much and how well spaced out these rate rises are.  Also, as we discussed in a recent missive, the pending lift in interest rates needs to be communicated clearly and well in advance.
Few of us will like it.  But instead of complaining, or worse still, continuing to argue for an interest rate drop, we should focus our attention on how we will build our businesses in such a climate.  Likewise, what we do regarding our investments.
I don’t have any great pearls of wisdom, but I do believe that in business you should prepare for the worst and hope for the best.  Ensuring cash flow and reducing debt/expenditure also helps.  And when it comes to investing – go long, hold your nerve, buy when the market is low and wait for the upswing.
So in summary, with inflation likely to be above the target range, economic activity uneven and the high level of the currency hurting some industries and regions, the RBA will face difficult decisions during the next couple of years as to what level the cash rate should be.  For now at least, the safest assumption is the RBA will leave the cash rate unchanged for the next three to six months, and then move it higher during 2012.
There is much more behind last week’s London revolt than elitism, corruption and too many social handouts.  For mine it runs much deeper than that.  The London rising (let’s call it that) wouldn’t have occurred if the elites (let’s call them that too) weren’t so corrupt, compromised and incompetent.  The real issue (to paraphrase <a target="_blank" href="https://www.stratfor.com/">Stratfor</a> CEO George Friedman) is: who are these people who are running things, what gives them the right to do so, and if that right does not somehow flow from competence, what does it flow from? We have a crisis not of corruption or disjointed wealth, but of sheer incompetence and worst still indifference to that incompetence.  The solution isn’t more regulation but enforcement of the regulations we already have in place.  The world is in need of some serious tough love.  Higher interest rates are just one of many bitter pills we are about to face.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

We must be careful not to save ourselves into a recession

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Rental vacancies continue to rise on the Gold Coast and other Queensland coast markets, according to the quarterly figures put out by The Real Estate Institute of Queensland.
The Gold Coast vacancy rate has risen to 5.2% in the June 2011 quarter up from 3.6% in the March quarter.
In June 2008, the Gold Coast vacancy rate stood at 3.8%, suggesting seasonal factors are not the only reason for vacancies rising to nearly double those of greater Brisbane (2.7%).
REIQ Gold Coast president John Newlands says people displaced by the Brisbane floods have now moved out of rented accommodation on the coast and back to Brisbane.
"We do rely heavily on tourism and from the construction side of things, so both those industries have been down but coming into summer tourism will obviously have a spike because people come to the Gold Coast in those summer months, so that should have a reflection on the vacancy rate coming into that period of time," he says.
The troubled Gold Coast market has been flagged by property analyst Michael Matusik, who says just one in seven dwellings approved on the Gold Coast was actually being built.
“This is against a typical 75% completion rate. Yet Gold Coast mayor Ron Clarke denies that there is anything wrong, citing that net employment has increased on the Gold Coast over the last 12 months and claiming that winning the 2018 Commonwealth Games bid will fix any issues. That assumes that there is anyone left with a job on the Gold Coast in seven years’ time,” he says.
The March 2011 quarter Midwood Gold Coast report revealed that the average for a one bedroom apartment on the Gold Coast had fallen from $295 a week to $290 a week while the average weekly rent for two bedroom apartments had stagnated at $350 a week.
A search across realestate.com.au found 1,029 two-bedroom apartments on the Gold Coast available to rent for under $350 a week.
Among these, McGrath agent Margaret Robins is offering a two-bedroom apartment overlooking Kirra Beach for just $205 a week.
Julie Roberts from Surfers Real Estate is offering a two-bedroom apartment with parking on Brighton Street, Biggera Waters, within walking distance of Broadwaters in Surfers Paradise for $225 a week.
<table border="1" cellspacing="0" cellpadding="0" width="389"><tbody>
<tr>
<td width="197" nowrap>
 
</td>
<td width="64">
Jun- 08
</td>
<td width="64">
Mar-11
</td>
<td width="64">
Jun-11
</td>
</tr>
<tr>
<td width="197" nowrap valign="bottom">
 
</td>
<td width="64" valign="top">
 
</td>
<td width="64" valign="bottom">
 
</td>
<td width="64" valign="bottom">
 
</td>
</tr>
<tr>
<td width="197" nowrap>
Brisbane SD
</td>
<td width="64">
2.1%
</td>
<td width="64">
2.3%
</td>
<td width="64">
2.7%
</td>
</tr>
<tr>
<td width="197" nowrap>
Gold Coast City
</td>
<td width="64">
3.7%
</td>
<td width="64">
3.6%
</td>
<td width="64">
5.2%
</td>
</tr>
<tr>
<td width="197" nowrap>
Sunshine Coast Regional
</td>
<td width="64">
3.2%
</td>
<td width="64">
3.7%
</td>
<td width="64">
4.9%
</td>
</tr>
</tbody></table>
Source: REIQ
Rental vacancies have also risen in other coastal regions heavily reliant on tourism.
The Sunshine Coast vacancy rate has risen to 4.9% over the June quarter, from 3.7% in March. In June 2008, vacancies stood at 3.2%.
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Rental vacancies on the rise on Gold Coast

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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.
 
There is almost no rental accommodation available in the resource boom town of Gladstone, according to quarterly Real Estate Institute of Queensland figures.
Vacancies in Gladstone, 550 kilometres north of Brisbane, have fallen from 1.4% to just 0.6% in the June quarter on the back of big energy, mining and infrastructure projects scheduled to commence in the region over the next 10 years.
In March 2009 the Gladstone vacancy rate stood at 6.1%
The regional town’s property market is now the focus of significant residential development, with Devine receiving approval to rezone a 469-hectare site from farming to residential. 
Devine plans to develop up to 2,900 homes and other facilities for a community of 7.500 people as part of a new $1.4 billion community. Construction is due to begin in 2012.
A search across realestate.com.au reveals just 84 Gladstone properties for lease.
Kellie McDonald from Raine and Horne Gladstone is offering a three-bedroom house on Stoneybrook Drive for $500 per week.
RE/MAX Gold – Gladstone is offering a partially furnished two-bedroom flat on Illawarra Drive for rent at $300 per week.
Vacancy rates:
<table width="333" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td nowrap width="197">
AS AT END OF:
</td>
<td width="72">
Jun-11
</td>
<td width="64">
Mar-11
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197"></td>
<td valign="bottom" nowrap width="72">
 
</td>
<td valign="bottom" nowrap width="64">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197">
Brisbane SD
</td>
<td valign="bottom" nowrap width="72">
2.7%
</td>
<td valign="bottom" nowrap width="64">
2.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197">
MAJOR REGIONAL CENTRES
</td>
<td valign="bottom" nowrap width="72">
 
</td>
<td valign="bottom" nowrap width="64">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197">
Gladstone Regional
</td>
<td valign="bottom" nowrap width="72">
0.6%
</td>
<td valign="bottom" nowrap width="64">
1.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197">
Gladstone City
</td>
<td valign="bottom" nowrap width="72">
0.7%
</td>
<td valign="bottom" nowrap width="64">
n/a
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197">
Mackay Regional
</td>
<td valign="bottom" nowrap width="72">
1.6%
</td>
<td valign="bottom" nowrap width="64">
1.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197">
Mackay City
</td>
<td valign="bottom" nowrap width="72">
1.6%
</td>
<td valign="bottom" nowrap width="64">
n/a
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="197">
Rockhampton Regional
</td>
<td valign="bottom" nowrap width="72">
2.0%
</td>
<td valign="bottom" nowrap width="64">
1.8%
</td>
</tr>
</tbody></table>
Source: REIQ
Resource projects earmarked for Gladstone include a $41 billion coal mining project scheduled from 2011 to 2020, a $75 billion energy project scheduled from 2011 to 2017, a $7 billion rail project (2011 to 2014) and an $8 billion port project (2011 to 2020).
Based on March Real Estate Institute statistics, Gladstone’s vacancy rate is lower than that of Sydney (1.1%), Brisbane (1.8%) and Melbourne (1.7%).
While vacancies have eased slightly in Mackay from 1.3% to 1.6% and from 1.8% to 2% in Rockhampton, they are still significantly tighter rental markets than the Brisbane metropolitan market, where vacancies have eased from 2.3% to 2.7% over the quarter.
According to the REIQ, the regional areas have continued to experience extremely tight rental conditions as the influx of residents who have obtained work in the resources sector places increasing pressure on the supply of rental properties.
“This is being reflected in the RTA rents, with the highest increases in median rents occurring in areas such as Gladstone, Mackay, Rockhampton and other smaller regional areas like Central Highlands, Isaac and Banana,” says REIQ managing director Dan Molloy.
According to the Midwood report, property developer Devine will next year commence building a $1.4 billion master planned community just outside of the Gladstone CBD.
The 496-hectare site, to be developed over the next 12 years, will include 2,900 dwellings for up to 7,500 residents, an education campus, a mixed-use commercial zone and 182 hectares of open space.
Photo courtesy of Tourism Queensland
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