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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Office space in the revamped 1952 Museum of Contemporary Art building with views over the Sydney Harbour Bridge and the Opera House has become available for lease.
It’s the first time the opportunity to secure the offices in the past decade within the iconic MCA building at 140 George Street, The Rocks.
The MCA is currently undergoing an expansion with an adjoining $53 million new wing redevelopment.
“The leasing offering includes whole floors of approximately 882 square metres or part floors of approximately 420 square metres,” Ray White commercial leasing director Jeremy Piggin says. His fellow leasing director Anthony Harris says the rentals will start from $800 per square metre gross.
The Art Deco-style MCA building was opened in 1952 and for 37 years was the home of the Maritime Services Board.
The building was given to the MCA by the NSW government in 1989 when the MSB moved to larger premises.
Piggin said tenants also had the potential to secure a corporate relationship with the MCA and its function venues.
The MCA refurbishment is due to be completed later this year.
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jchancellor-FAypfDUnLy

Office space in Sydney's MCA building available for first time in 10 years

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{yoogallery src=[images/stories/august12mcmanus]}
Event promoter Andrew McManus didn’t get the right audience when his <a target="_blank" href="/news" title="Toorak">Toorak </a>mansion went to mid-week onsite auction. Marshall White auctioneer Justin Long accepted a $9.8 million opening bid, and then placed an $11 million vendor bid given the audience participation had concluded.
The house last sold in 2008 mid-construction for $8.75 million.
The six-bedroom, six-bathroom house, with a seven car garage, had been initially commissioned for construction in 2007 by David Fox, the youngest son of trucking magnate Lindsay Fox, who sold before the property was completed.
The house now includes a study, gym, home theatre, billiards room and several outdoor entertainment areas, including a cabana and pool on its 1,389-square-metre block.
Bennison Mackinnon Armadale's Nathan Waterson was marketing the Myoora Road property in conjunction with Marshall White.
Long indicated there had been several $11 million-plus offers previously put to the vendor. The property now has price hopes of $13 million.
Long gave the crowd of about 30 an estimated $6.5 million current land value and suggested something like $9 million would be its replacement cost in 2014 dollars.
Prospective buyers had inspected the property up to four times before the auction.
The director of Andrew McManus Presents is said to have dodged the brief global financial crisis property downturn in 2008, after selling his former Orrong Road, Toorak, estate for $13.5 million having paid about $6 million in 2004.
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Concert promoter Andrew McManus' auction hits off note

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The extraordinary fluctuations in the listed markets over the past seven trading days to August 10 have demonstrated a fundamental disconnect between pricing and underlying valuation.
Despite approximately 85% of underlying A-REIT sector income being underwritten by rental income secured by lease contract (not subject to variable corporate profitability), the sector as represented by the S&amp;P/ASX 200 A-REIT Index declined 8.9% over that period since August 2, while trading volume increased 133%.
Over that same period, the broader equities market as represented by the S&amp;P ASX 200 Index lost 6.6% on increased turnover of 89%. However before yesterday, it was the A-REIT sector that had withstood the stormy weather better (-7.2% compared with -9%), but a preliminary final financial year report from market giant Stockland contributed to the relative underperformance for the day (down 3.6%).
While net profit and earnings were up significantly, it was the forecast of a flat 2012 year for earnings which disturbed A-REIT market sentiment. 
This substantial change in market price has a consequent impact on the sector yield. The sector yield at 2nd August was 6.73 percent while seven trading days later, that yield was at 7.33 percent. 
Much now hinges on the rest of the reporting season for guidance on A-REIT pricing, with a particular focus on the significant retail trusts as a bellwether for 2012 earnings.
Mark Wist is senior asset consultant at <a target="_blank" title="Atchison Consultants" href="https://www.atchison.com.au/">Atchison Consultants</a>
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There is a fundamental disconnect between A-REIT pricing and valuation

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Existing investment property owners who don’t need to access equity should be ignoring negative headlines and taking a "hold and wait" stance.
There is no need to panic or try to realise the investment; property will bounce back as it always has.
The statutory fees associated with acquisition plus the tax payable and agent costs associated with selling up require property to be viewed as a long-term investment.
Those looking to purchase should be excited about the prospects of today’s advantageous market, which is generally offering a far lower entry point than observed over the last few months at least.
Other favourable factors include higher than average property listings, reduced buyer competition, increased vendor discounting, heated competition between lenders for home loan customers, tight rental vacancy rates and rising rents. When it comes to property choice, the basics remain: take time to conduct thorough research into both the home loan and property markets and with the latter focus on position, position, position.
The fundamentals don’t change in an opportune market.
Michael Russell is CEO of <a target="_blank" title="Mortgage Choice" href="https://www.mortgagechoice.com.au/">Mortgage Choice.</a>
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mrussell-5mmSm25yLD

Don't panic - property will bounce back

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The listed property sector looks set to trade down for a second day in a row.
Stockland has continued to fall despite releasing a strong set of financial results yesterday and is down 14.5 cents to $2.53 in the first hour of trading.
Westfield is down 14¢ to $7.59 while Leighton Holdings is down 57¢ to $18.72.
GPT is the only major stock in the index trading up on the back of today’s profit upgrade. Its share price has risen 10c to $2.81.
Yesterday, Stockland CEO Matthew Quinn attributed the “subdued” performance of its share price due to investors pricing in a structural correction in the housing market when it viewed it as only a cyclical change.
It has been a rollercoaster week for the listed property trust sector since global markets started unravelling
On Monday A-REITs dropped 3.1% of their value. On Tuesday the sector rallied by 1.29% with some of the stocks like Westfield Group and the Westfield Retail Group making strong gains.
However, on Wednesday the sector again tracked down, falling 1.8% and shedding $5.7 billion of its value to just above $56 billion.
In the first 11 days of the August, the sector has shed more than 8% of its value and is down more than 14% of the year.
Despite the volatility of the sector, analysts do not expect a repeat of what happened to the sector during the GFC due to A-REITs adopting a more defensive position.
According to Scott Courtney, head of research at Morningstar, the average gearing level of REITs is currently about 30% compared with 40% before the GFC.
"This is the fundamental difference. This is why they are in a better position to weather the impact of a global crisis than before," he says. "They are comfortably well below their covenant levels, whether it is measured against interest repayments or asset values,” he told The Australian.
They have also sold off their non-core assets and diversified their funding sources by tapping into the commercial bond market, and re-negotiated their debt repayment deadlines.
With the lower gearing levels, head of property equity at NAB Bill Halmarick told the Australian Financial Review listed property trusts no longer suffered from severe capital constraints.
However, he does not believe a drop in base rates will encourage more borrowing. Instead he says trusts might look to lock in cheaper interest rates swaps or hedging positions.
The paper quotes an investment banker who says the opposite – that REITs should use the current cheap debt environment to increase borrowing and look to make opportunistic asset acquisitions.
In 2008 the S&amp;P/ASX300 AREIT Accumulation Index produced an annual return of -55.30%.
Morningstar analyst Bianca Rose attributing the poor performance to A-REITs “taking on too much debt, paying out unsustainably high dividends, paying expensive management fees to related companies, and sourcing earnings from newer, less stable income sources rather than from traditional Australian property rental income sources”.
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REITs fall again in rollercoaster week, except GPT

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Households are observing a softer jobs market and are increasingly worried about the outlook for jobs, according to a Westpac survey that preceded the unemployment rate rising from 4.9% to 5.1% today.
The level of unemployment anxiety gives a strong signal that households are already under duress and that a rate hike based on domestic fundamentals is not called for, the Westpac economic update suggests.
The level of expectations of higher unemployment is now 34% higher than a year earlier.
Until this month it was the labourers and machinery operators who were the most worried about jobs.
However sales and clerical staff became the most worried in August.
‘It’s a very interesting shift.
“We have been hearing reports that retailers and the finance sector may be looking at reducing staff give the current soft patch in consumer demand.
“We wonder if this survey is providing us with the first clue that job shedding in these sectors may now be underway,” the report notes.
Rismark International economist Christopher Joye says with the unemployment rate rise and Westpac-Melbourne Institute inflation expectations declining, a lot of pressure will have been relieved from the RBA viz-a-vis hikes.
“The Aussie dollar has also declined by 9% at its current price of 1.015 from the high of over 1.10.
“Taking the average daily AUD/USD cross since the end of March, the Aussie dollar is down 5%.
“According to the RBA's research, this is akin to almost a full rate cut, all other things being equal.
“The yield curve will continue to invert, which means we should see lower fixed-rate home loans offered by the banks, albeit with the cost of lower term deposit rates for those net savers out there,” Joye says.
“Some fixed-rate loans are down by as much as two rate cuts, or 0.60 percentage points.
“Many will argue that official RBA rates should be going down, while the more sensible heads will probably conclude that the RBA can wait until the next inflation print in late October.
Its great news for all borrowers and the housing market especially, which is the most interest rate sensitive sector of the economy,” Joye says.
The report notes a moderation in inflationary expectations with the inflationary pulse from the food price shocks of early this year passing.
“Households are telling us they are not experiencing the same inflationary pressures as they were even just a few months ago,” it notes.
Mark Bouris, the founder of the wealth management group, Yellow Bridge Road, noted that the Reserve Bank of Australia had maintained their position on rates, citing low unemployment numbers as a key factor in keeping rates at bay or even raising them.
“But with job losses and lack of offers on the increase, low unemployment is no longer a valid argument.
“I’ve been appealing to the RBA for months and today’s figures show that the RBA needs to cut rates in September to save mortgage holders and hardworking Aussies from falling into further financial disrepair,” Bouris says.
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Sales and clerical staff worrying about their jobs

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Regional tourist accommodation providers are likely to feel more pain as record numbers of Australians take advantage of the strong Australian dollar to head overseas rather than holiday locally. 
According to ABS Overseas Arrivals and Departures data for June, Australians took 7.44 million overseas trips in the 2010-11 financial year (up 9.9% on 2009-10), compared with 5.91 million international visitors to Australia (up 3.8% on 2009-10). 
For the first time overseas trips taken by Australians outnumbered international arrivals by more than 1.5 million. The number of Australians heading overseas first exceeded arrivals in June 2008. 
Over the June quarter arrival numbers declined by 0.5% to be up just 0.5% on a year ago, below average annual growth of 1% over the last six years. 
Furthermore, visitors are spending less when they are here, with Westpac forecasting total travel export volumes for the second quarter are likely to be down 5% on a year ago.
<img src="/images/stories/tourismjump.jpg">
The flat overall growth in visitor numbers has had less of an impact on CBD hotels, where occupancy rates remain strong as the sector is far more reliant on business travellers. 
According to the Tourist and Transport Forum, business visitor numbers rose by an impressive 11.3% over the March quarter while holidaymaker numbers – the bread and butter of regional hotels – declined by 5.3%. 
As a consequence while CBD hotel occupancy rate and room takings have remain robust due to strong business demand, regional hotels, motels and guest houses have headed in the opposite direction. 
This two-speed nature of tourist accommodation was starkly revealed in the June quarter ABS figures, complemented by research by STR Global that revealed occupancy rates were significantly higher for CDB hotels (77%) compared with non-CBD hotels (68%) over this period. 
According to STR Global, demand for business accommodation was particurlarly prevalent in Perth, with room rates rising 9.6% in the first six months of the year, followed by 8.1% in Brisbane and 8.4% in Sydney. 
The outlook for 2012 looks a little brighter for regional providers. 
While it remains to be seen if the recent correction in the Australian dollar will be sustained, the Tourist and Transport Forum is forecasting 5.1% growth in holiday visitors in 2012, nearly double the growth of 2.6% achieve in 2011. 
In addition, visitors are expected to stay an average of four nights in 2012, compared to 2.9 in 2011.
However, the 300 property market participants who took part in the NAB June quarter commercial survey see little change over the next two years.
They forecast the capital values of CBD hotels are tipped to rise by a healthy 5.3% over the next 12 months and by 6.2% over the next two years.
In comparison, hotel property values outside of the CBD are expected to stagnate over the next year (declining 0.2%) and to rise by just 1.6% over the next two years.
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Jump in overseas trips bad news for regional hotels

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Property developer Stockland expects the carbon tax to have minimal impact on the cost of building a new house.
Stockland CEO Matthew Quinn says the controversial tax will add only 0.6% or $2,500 to the cost of one of its house-and-land package.
“The carbon tax is something the industry can take in its stride,” Quinn says, comparing its impact to the introduction of GST.
His comments are likely to infuriate the Housing Industry Association and Real Estate Institute of NSW, which are both campaigning hard against the carbon tax.
The HIA claims the carbon tax will have “painful and widespread repercussions for residential building”. 
“New housing is already designed and built to meet stringent energy regulations that make them substantially more energy-efficient than existing homes,” says HIA chief executive Graham Wolfe. 
“Lifting the cost of new homes further through a new tax without any benefit at all to the individual home buyer makes no sense.” 
The REINSW estimates that the average residential building price will increase by $5,000 as a result of the carbon tax, plus an additional $740 in additional GST and stamp duty imposts.
 “It is bad enough that the carbon tax will push up the cost of an average new home by at least $5000 but to then make that increase subject to not one but two existing taxes, is just unconscionable”, says REINSW president Wayne Stewart.
Stockland is forecasting the carbon tax to add a maximum of $4 million annually in electricity and gas costs to its operational costs from the 2013 financial year onwards.
It expects to pass 50% of this cost on to consumers.
Quinn says Stockland has taken “massive steps” to mitigate against the carbon price including “huge reduction” in the amount of greenhouse gases its developments emit.
Stockland’s current emissions total 166,000 tonnes, mainly from electricity usage in commercial buildings, meaning it will not be liable to purchase carbon credits.
It has reduced its greenhouse gas intensity by 34% for offices and 16% for retail developments over the last five years and is targeting a further 7% reduction in for offices and 20% for retail by 2014.
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Carbon tax won't increase housing costs much: Stockland

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Meriton boss Harry Triguboff says an expected rate cut this year must not be followed by a subsequent rate rise.
Triguboff believes a rate cut will encourage more home buyers to return to the market.
"We must ensure that the Reserve Bank doesn't just drop them and then raise them again," Triguboff says.
"What happens is, as you drop them, people start buying, then you raise them and people can't pay."
He also called on the government to commit to offering permanent assistance for first-home buyers.
An interest rate rise will not hurt Meriton, since the company has the cash in hand to build without borrowing from the banks.
Meriton has approval for 800 units at Epping Park, with 130 already built.
Unit sales have been “average”, with Triguboff telling The Australian he is working with the state government to get things moving more quickly.
To encourage buyers, Meriton has been offering to pay the stamp duty on units at its Epping Park development in North Sydney. One-bedroom apartments are for sale at $460,000 and two-beds for $600,000.
Meriton has 13 apartment projects under construction, mostly in Sydney, including projects in St Ives, Epping and Rhodes
A major project is the 77-level Infinity tower in the Brisbane CBD, with one-bedroom apartments for sale from $380,000 rising up to just under a $1 million for three-bedroom units.
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Cashed-up Triguboff wants rates kept low

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Tasmania, Australia’s least expensive property market, has become even cheaper.
Its median house price fell 1.6% in the past year to $305,000, according to the Real Estate Institute of Tasmania. It was $330,000 in the March quarter.
At the same time the volume of house sales in Tasmania slumped 10.2% to turnover levels that haven’t been seen since the early 1990s.
Sales volume in Hobart was down by 5.6%, Launceston volumes by 5.2% and sales in the state’s northwest fell 13.4%.
The turnover data continues a trend evident in the 2010 June quarter, which reported a 20.8% reduction in house sales across Tasmania compared with the 2009 quarter volumes.
Sandy Bay was the most expensive suburb in the June quarter, with a $647,500 median, followed by Battery Point at $645,500. Sandy Bay’s median price in the 2010 was $655,000 and $599,000 in 2009.
Four other suburbs on the 10 most expensive suburbs in the state have recorded strong gains over the past two years, including Seven Mile Beach, up from $398,000 in the 2009 June quarter to $475,000; West Hobart up from $427,500 to $495,000; Sandford up from $426,000 to $497,500 and Mount Nelson up from $417,500 in 2009 to $615,000.
But two of the cheapest suburbs on the 10 cheapest locations recorded significant declines in median prices, with Ravenswood down from $190,000 in June 2009 to $142,500 and Gagebrook down from $160,250 to $150,000.
REIT president Adrian Kelly recently noted that with many overpriced properties on the market that “anyone currently selling a house in Tasmania needs to be willing to meet market prices or be ready for their house to sit on the market for up to a year or more".
The release of the data followed the recent new home lending figures from the Australian Bureau of Statistics that showed the number of loans for the construction or purchase of a new dwelling fell by more than 12% in June.
Housing Industry Association executive director Stuart Clues says the figure is a warning that things are softening in the housing market.
"New home lending is a leading indicator of residential building activity, so unfortunately the current low number of loans reinforces HIA's view that dwelling starts will fall by at least 10 per cent in calendar year 2011," he says.
Master Builders Association Tasmania executive director Michael Kerschbaum notes that in recent years the supply of more than 3,000 houses each year coupled with a population growth of about 4,000 a year means the state is almost square.
Photo courtesy of Tourism Tasmania and Nick Osborne
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Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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

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