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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Melbourne investor David Marriner has revealed development plans for the iconic Sheraton Mirage Port Douglas, which he bought in April this year for $35 million.
Stage one of the development will include the refurbishment of the resort’s central areas and rooms, construction of a 1,450-square-metre Great Barrier Reef arts and exposition forum and an adjacent outdoor covered amphitheatre seating 500.
The amphitheatre will replace the 850-seat Glade Pavilion, which Marriner referred to as an “out-dated tent” that was never meant to be a permanent structure.
During stage two the Mirage Country Club will be redeveloped into a prestigious harbour-style Westin resort with luxury yacht moorings, a boutique retail centre and redesigned golf course, Cairns.com.au reported.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/portdouglas1.jpg">
The redevelopment is expected to take two years to complete, with a planning application to be submitted shortly.
The new plans have been developed by DBI architect Stuart Shakespeare, the original designer of the resort.
The Sheraton Mirage was one of two Mirage resorts in Port Douglas developed by the late, disgraced Australian businessman Christopher Skase in the late 1980s. The hotel effectively put the tropical north Queensland town on the map.
At the helm of Qintex Corporation, Skase spent $100 million building the hotel, which launched in 1987.
On the eve of the 1990 economic recession, his two Mirage resorts in Port Douglas, Queensland were among the largest in the country.
In 1989 Skase was forced to sell 49% of the Mirage resorts, with Japanese investors Mitsui and Nippon Shinpan paying $151 million for the Port Douglas resort.
Facing ASIC charges of improperly using his position to obtain management fees as well as personal debts of $170 million and corporate debts of $1.7 billion, Skase fled to the Spanish island of Majorca in 1991, where he died in August 2001.
Former guests of the Sheraton Mirage include former US president Bill Clinton and Hillary Clinton, Hollywood stars Leonardo DiCaprio, Tom Hanks and John Travolta, opera singer Luciano Pavarotti, model Claudia Schiffer, and Rolling Stone Mick Jagger.
"What we're really doing is capitalising on a lot of the infrastructure that's here, we're modernising it, refurbishing it, and adding it to a new journey,” Marriner says.
The focus of the redevelopment will be what Marriner describes as the “artistic, cultural, arts fabric” that is prevalent in Port Douglas. "It's our view that there's a level of sophistication within the fabric of this community that lends itself to be capitalised in a little more sophisticated way than perhaps you would tackle other markets,” he says. The Mirage has 294 rooms, six bars, an 18-hole golf course and beach frontage via a tropical forest. The property also includes 41 hectares of vacant land with residential redevelopment potential.
Presenting his vision for the Sheraton Mirage, Marriner described it as a resort that had grown tired over the years due to a lack of reinvestment.
The development requires $18 million from each of the Queensland and federal governments over five years for infrastructure development.
The presentation was attended by opposition spokesman Joe Hockey, who said if the numbers and ambition stacked up he would try to get the government to commit some funding to the project.
Also in attendance was Leichhardt MP Warren Entsch, who had lobbied Federal Regional Development Minister Simon Crean and Federal Tourism Minister Martin Ferguson for support.
Marriner says public money will go towards the infrastructure development, not the hotel refurbishment.
As security for the governments’ investment, he is offering a $10 million performance bond and the reassurance public money will be the last into the project.
Marriner says private investment of $120 million is needed just to “keep the lights on” and redevelop the asset. Investors are said to include mining magnate Clive Palmer and property entrepreneur Lloyd Williams.
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lschlesinger-FZcF9M3vE6

Five-star facelift planned for Sheraton Mirage Port Douglas

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Fashion giant Zara has ended months of speculation with confirmation it will launch into Adelaide this year, taking up occupancy in the Burnside Village complex.
It is among a number of fashion retail openings scheduled for the shopping centre, which has undergone a $100 million redevelopment by the Cohen Group.
The majority of stores are scheduled to open in October, followed by Zara in November.
Sass &amp; Bide, Oroton, Saba, Karen Millen, Sportscraft Signature and Charlie Brown will be among the high-profile fashion occupants at Burnside, which is a middle class eastern suburb about four kilometres from the Adelaide CBD.
The Zara site will be among the largest in Australia, spanning 2300 square metres. The leasing deal was negotiated by Colliers International agent Ben Laycock.
The two-level store will be based on the design of Zara's recently opened Fifth Avenue, New York store.
Zara successfully launched into the Australian market earlier this year, with concept sites in Westfield Sydney and on Bourke Street, Melbourne.
Laycock says Zara had not ruled out taking space at the Rundle Mall in Adelaide at a later date.
Zara has 1,700 stores worldwide with sales of about $10 billion last year.
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jchancellor-FAypfDUnLy

Zara to launch in Adelaide in November

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St Kilda Road on the fringes of the Melbourne CBD is the most sought-after office strip in Australia, according to the latest leasing figures revealed by Savills.
In the second quarter of 2011, office leases on St Kilda Road topped 24,000 square metres, with eight major deals signed over the three months.
St Kilda Road filled more office space than all other major metropolitan markets, with Sydney CBD coming in a distant second, with 10 transactions totalling 16,746 square metres.
Even excluding Spotless taking up an entire office building of 9,500 square metres at 549 St Kilda Road on July 5 in a deal negotiated by Colliers International’s office leasing director Ben Christie – by far the biggest deal on the street over the quarter – the strip would still have comfortably beaten the 10,500 square metres of office space let in the nearby Melbourne CBD.
<a href="/images/stories/savillsjuly22large.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/savillsjuly22.jpg"></a>
Other major leases signed on St Kilda Road include energy consultants ServiceWorks taking up 5,500 square metres at 457 St Kilda Road at $235 per square metre, property developer Australand taking up 1,985 square metres at 484 St Kilda Road at $270 per square metre, Newcrest Mining occupying 1,800 square metres at 616 St Kilda Road for $250 per square metre and diet food group Jenny Craig leasing 1,700 square metres at 464 St Kilda Road at $255 per square metre.
The rise of St Kilda Road as a major office destination follows predictions by Colliers International that office tenants would start decentralising from CBDs.
Fringe markets stood up well against their CBD rivals in all the major capital cities.
The Sydney CBD office market had strong competition from both North Sydney (three deals totalling 12,990 square metres) and Parramatta and the suburbs (six deals totalling 11,028 square metres)
Brisbane’s fringe CBD markets attracted eight new tenants, who took a combined 5,053 square metres of office space, compared with eight deals in the Brisbane CBD totalling a slightly higher 6,177 square metres.
West Perth secured four major lease agreements totalling 3,068 square metres, compared with just two in the Perth CBD totalling 4,710 square metres in the second quarter of 2011.
The biggest leasing deal secured for the quarter was signed in May when the Department of Innovation, Industry, Science and Research committed to 10,000 square metres of laboratory and office space at the Precinct Corporate Centre developed by Goodman at 105 Dehli Road, North Ryde. The deal was struck at $350 gross per square metre.
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Office tenants flock to St Kilda Road: Savills

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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.
 
You can no longer smell the yeast, but something sure is brewing at the old CUB site in the inner-Melbourne suburb of Carlton.
Since developer Grocon moved in with its heavy machinery and grand ideas, the birthplace of Carlton Draught has become a mecca for sustainable design.
<img src="/images/stories/delta.jpg">
By 2014 Delta (pictured above), the world’s tallest totally timber and totally sustainable building, will take pride of place next the puzzle-like Pixel building (pictured below), which last month picked up the sustainability prize at last month’s Australian Institute of Architects Awards Victoria.
<img src="/images/stories/pixel.jpg">
Pixel includes a system that uses methane emitted from black (toilet) waste to heat water, has an insulating roof garden with wind turbines, enjoys 100% daylight penetration, and claims to not only be carbon-neutral but able to eventually generate enough power to sell back to the grid.
When US Secretary of State Hillary Clinton visited Australia last November she referred to Pixel as a building “Australians – and frankly Americans and others –will be studying as an example,” and even plans to use it as model for new US embassies around the world.
But arguably the biggest vote of confidence came from the Green Building Council of Australia, which awarded the building a perfect score of 105 under its green star rating tool, making it the most sustainable building in the country, and among the most eco-friendly in the world.
This places Pixel well above what the council requires for a six-star rating – its highest prize, which in industry circles translates to “world leadership in construction and design”.
<img src="/images/stories/conventioncentre.jpg">
Australia currently has 43 six-star projects, including the world’s greenest convention centre, the Melbourne Convention and Exhibition Centre (pictured above), and Darling Quarter (pictured below) on Sydney Harbour’s revamped foreshore, which is due to open in September.
<img src="/images/stories/darlingquarter.jpg">
Darling Quarter, which will house 6000 Commonwealth Bank employees, owes its six-star rating to a design that will save 2,500 tonnes of carbon and reduce water consumption by 92%.
 
<hr class="system-pagebreak">
The green star certainly is rising - and according to GBCA chief executive Romilly Madew, “11% of Australia’s CBD office space currently has some form of green star certification”.
“That’s because tenants and owners know that green buildings outperform non-green buildings in terms of comfort and productivity,” Madew says.
“What’s more, the property and construction industry can expect higher rents because tenants will pay more to secure lower long-term operating costs.
“Because they are built for high energy and water efficiency they are much cheaper to operate – they consume 26% less energy and generate 33% less greenhouse gas emissions.”
Madew supports a price on carbon, but doesn’t believe it will affect the fast-increasing take-up of Green Building Council of Australia accreditation.
“Green star has already transformed the Australian market to such an extent that it is now a standard consideration in the commercial office sector,” Madew says.
Although it is a voluntary scheme, some developers like Grocon have set their own minimum green-star standards.
“Two years ago our CEO, Daniel Grollo, stated that we would never again build a building that has less than five green stars,” says David Waldren, Grocon’s CUB site general manager.
“We have followed through with that vision, for example with the AXA building and Media House in the Docklands, and we are working very hard to establish six stars as our minimum standard,” he says.
<img src="/images/stories/legion.jpg">
That’s the plan at least for two new Grocon projects: Delta, which will use the same design team as Pixel, and Legion House (pictured above) in Sydney’s CBD, which will use Pixel’s engineers.
“Both projects share Pixel thinking in terms of very high energy-efficiency systems, a focus on water conservation and a holistic approach to the design process,” Waldren says.
“Legion House will be delivered as a high-quality office environment that does not draw any energy from the grid.”
Grocon has not been shy with its push for a low-carbon – and indeed carbon-neutral – design and construction industry.
This month CEO Daniel Grollo threw his support behind the Gillard government’s carbon tax by signing Grocon up to the Businesses for a Clean Economy group, which at the time of writing included 217 companies.
Grollo said in statement: “Personally I’m in favour of a cost on carbon. As I look forward in Australia, I see us at the threshold of some fantastic times, and I get disillusioned when I see some critical decisions that need to be made for our future getting bogged down in politics.”
Madew agrees that the carbon tax will be an important driver of innovation in the industry.
“A price on pollution is one of the most efficient and cost-effective ways for Australia to meet its international carbon reduction targets, while at the same time boosting investment in green technologies, potentially leading to a global competitive advantage.”
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cknowlton-QnEa6ntUYP

It's becoming easier to be green, as more embrace sustainable commercial design

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Retail vacancies on two of Melbourne’s prime retail strips have risen to almost twice the average across the prime street market, according to the latest Savills research.
More than one out of every 10 shops in upmarket Toorak Road, South Yarra (11.4%) and discount street Bridge Road, Richmond (10.6%) sits empty, compared with a prime street vacancy rate of 6% across Melbourne.
Toorak Road, South Yarra has proportionally fewer fashion retailers (24%) than the average for Melbourne prime retail strips of 31%.
It has no major anchor tenants, though supermarkets are to be found in adjoining Chapel Street.
Toorak Village Traders’ Association president Tony Fialides expressed concerns about rundown shopfronts in July, telling Melbourne Weekly shopping strips needed council-funded upgrades to keep them competitive with major shopping centres.
Fialides says shops particularly on the south side of Toorak Road have moved due to a tough market, and the council, landlords and retailers could do more to improve streetscapes and boost traffic.
Currently seven properties are listed on realcommercial.com.au as up for sale on Toorak Road, South Yarra, ranging in price from $750,000 to just over $800,000 for shops of about 45 square metres.
There are currently vacancies in the upmarket Como Centre at 299 Toorak Road, and a 45-square-metre shop at 210 Toorak Road is being offered for rent at $550 per week by Dixon Kestles.
In the Melbourne suburb of Richmond, Bridge Road is heavily reliant on fashion retailers, with 38% of shops on the strip operating as clothing stores. Coles occupies space in Richmond Plaza on the street.
Shops for lease on Bridge Road include a 47-square-metre site at 116 Bridge Road for $52,000 per year by Alex Teneketzis from TCI Property Consultants.
Four retail locations on Bridge Street are listed for sale on realcommercial.com.au – none include listing prices.
In the December quarter of 2010, CBRE noted that the number of retailers offered incentives had increased on both Toorak Road, South Yarra and Bridge Road, with both strips affected by the downturn in the fashion sector.
Vacancies rates on Australia’s most fashionable suburban strip, Chapel Street, remain low at 3.8% despite the fashion downturn, while higher up in Toorak Road in Toorak village, vacancy rates are at 6.5%
The tightest prime street retail markets are Glenferrie Road in Hawthorn, six kilometres east of the Melbourne CBD and Puckle Street in Moonee Ponds, seven kilometres northwest of the Melbourne CBD. Vacancies rates are at 2.1% for both locations.
According to Savills, retailers in street locations have started to rethink their offerings and have aggressively started to renegotiate their rents.
<img src="/images/stories/savillsjuly21.gif">
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Toorak and Bridge roads struggle with high retail vacancy rates

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Rivalries between Sydney and Melbourne will be renewed following a global survey that rates the NSW capital’s CBD as a far more attractive office location for the world’s biggest blue-chip companies.
Sydney placed equal 16th across all sectors, with 136 (49%) of the 280 major international companies occupying office space in the city, according to CB Richard Ellis’s Business Footprints survey
Melbourne ranked a distant 43, as just 87 companies have office space in the Victorian capital. Melbourne ranked just ahead of Auckland, which has 85 companies.
Brisbane ranked 9oth (with 48 companies) and Wellington 119th ( with 31 companies).
 
<div align="center">
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="557" colspan="4" valign="top">
Global Office Locations 2011: Full City Ranking 
</td>
</tr>
<tr>
<td width="66" valign="top">
Rank  
</td>
<td width="212" valign="top">
City
</td>
<td width="139" valign="top">
No. of companies
</td>
<td width="139" valign="top">
% of companies present in city
</td>
</tr>
<tr>
<td width="66" valign="top">
1 
</td>
<td width="212" valign="top">
Hong Kong  
</td>
<td width="139" valign="top">
191 
</td>
<td width="139" valign="top">
68.2% 
</td>
</tr>
<tr>
<td width="66" valign="top">
2 
</td>
<td width="212" valign="top">
Singapore 
</td>
<td width="139" valign="top">
189 
</td>
<td width="139" valign="top">
67.5% 
</td>
</tr>
<tr>
<td width="66" valign="top">
3 
</td>
<td width="212" valign="top">
Tokyo  
</td>
<td width="139" valign="top">
179 
</td>
<td width="139" valign="top">
63.9% 
</td>
</tr>
<tr>
<td width="66" valign="top">
4 
</td>
<td width="212" valign="top">
London 
</td>
<td width="139" valign="top">
177 
</td>
<td width="139" valign="top">
63.2% 
</td>
</tr>
<tr>
<td width="66" valign="top">
5 
</td>
<td width="212" valign="top">
Shanghai
</td>
<td width="139" valign="top">
172
</td>
<td width="139" valign="top">
61.4%
</td>
</tr>
<tr>
<td width="66" valign="top">
16=
</td>
<td width="212" valign="top">
Sydney
</td>
<td width="139" valign="top">
136
</td>
<td width="139" valign="top">
48.6%
</td>
</tr>
<tr>
<td width="66" valign="top">
43
</td>
<td width="212" valign="top">
Melbourne
</td>
<td width="139" valign="top">
87
</td>
<td width="139" valign="top">
31.1%
</td>
</tr>
<tr>
<td width="66" valign="top">
47=
</td>
<td width="212" valign="top">
Auckland
</td>
<td width="139" valign="top">
85
</td>
<td width="139" valign="top">
30.4%
</td>
</tr>
<tr>
<td width="66" valign="top">
90=
</td>
<td width="212" valign="top">
Brisbane
</td>
<td width="139" valign="top">
48
</td>
<td width="139" valign="top">
17.1%
</td>
</tr>
<tr>
<td width="66" valign="top">
119=
</td>
<td width="212" valign="top">
Wellington
</td>
<td width="139" valign="top">
31
</td>
<td width="139" valign="top">
11.1%
</td>
</tr>
</tbody></table>
</div>
 
Sydney also ranked higher as global financial and banking hub, with two-thirds of the world’s biggest banks and financial services companies occupying office space in the city,
Sydney ranks as equal ninth with Milan on the list of global banking and financial services hubs, hosting 32 international companies out of the 48 included in the CBRE survey.
Melbourne does not host enough companies to make it into the elite Top 10 list (CBRE does not provide figures for Melbourne), with top billing shared by traditional financial services powerhouses London and New York (92% of firms) with Hong Kong (88%) a close third.
<img src="/images/stories/cbre2july21.jpg">
 
<hr class="system-pagebreak">
However, the results might not tell the full story, since a multi-national only has to occupy a physical office in a city to be counted towards its ranking.
No additional weighting is given to the size of that presence in the city or whether it is the company’s local headquarters.
A closer look at the two cities by Property Observer suggests Melbourne may punch above its ranking.
Melbourne is the Australian headquarters of global giants Goldman Sachs, GE Consumer Finance, AXA Asia Pacific, Legg Mason, Standard &amp; Poor’s, The Bank of New York Mellon, Mercer, Morgan Stanley, Vanguard, Computershare and Franklin Templeton.
It is also the home base of two of the big four banks, NAB and ANZ.
The other two major banks, CBA and Westpac, are headquartered in Sydney, as is HSBC, Munich Re, Credit Suisse, Royal Bank of Scotland, PricewaterhouseCoopers, Ernst &amp; Young, Deloitte, Citi, China Construction Bank, The People’s Bank of China and QBE Insurance.
The global locations list (across all sectors) is headed by the Asian powerhouses of Asian, Singapore and Tokyo, which are home to about two-thirds of the world’s biggest global businesses.
London is the only city outside of Asia inside the top five. 
On a country basis, Australia placed equal ninth with Hong Kong in the country rankings, with 68.2% or 191 companies maintaining an office presence in the country.
New Zealand also made the top 50, ranking a respectable 46th place, with 34.6% or 97 multi-national companies present in the market. 
The US is home to the greatest number of the world’s biggest global companies, with 90% of the 280 companies having a presence in the company. A third of the businesses included in the survey are domiciled in the US.
The report highlights a trend among the world's largest companies to locate their offices in booming Asian economies, reflecting a shift in global economic power, with China ranked fourth (81%), Japan sixth (69%), Hong Kong ninth (68%) and Singapore 12th (68%).It also found that companies headquartered in Asia Pacific show significantly less propensity for overseas expansion than those headquartered elsewhere.
Nearly 40% of companies headquartered in Asia Pacific were present in fewer than 10 countries, compared with fewer than 20% of those headquartered in Europe, the Middle East and Africa or the Americas. 
At present, Asia Pacific-domiciled companies also typically confine their choice of locations in overseas markets to fewer cities than companies from other regions.
Pharmaceutical and healthcare firms typically have the widest global office distribution at country level while, at the other extreme, automobile and parts companies have a presence in the fewest countries. 
Sydney’s strong global showing comes as leasing activity picks up on the back of a growth in corporate jobs.
In April, 20 new leasing deals were signed in the Sydney CBD, CBRE reported.
CBRE regional director of office services James Patterson reported in March that there were signs of strong effective rent growth in the past six months in the Sydney and Melbourne CBDs.
Patterson expects strong rental growth in the Sydney CBD in the short term before an increase in development activity, including Barangaroo, starts to restrict the scope for landlords to increase rents.
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Sydney ranks 27 places higher than Melbourne as a regional financial hub

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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.
 
When I first decided to develop property, I was overwhelmed and didn’t know where to start. I’d purchased four properties in Sydney and realised that I couldn’t keep buying negatively geared property, coming up with the shortfall required certainly puts the pressure on. By this stage, the major cities in Australia had become too expensive, so I began doing the figures on areas within a 200-kilometre radius of Sydney. The Hunter Region came up trumps.
I found that I could buy large residential lots of about 1000 square metres and develop them a lot more cost-effectively than if I were to develop in Sydney. Everything was cheaper, from the land purchase through to consultant fees and building costs. I also found the people there fabulous to work with. Most importantly, I found that there was a lot of infrastructure investment being made in the area.
Infrastructure investment is very important, as it stimulates the local economy by creating lots of employment and attracts more people to the area. Infrastructure projects create demand for rental property and other goods and services. As the projects progress, money is spent in the community and there is a flow-on effect to associated businesses. For instance, the local cafe sells more coffee and there is demand from contractors for convenience services such as laundromats and take-away food. Once the project is complete it adds to the local services. A great example of an infrastructure project is a new freeway being built, where the benefits may be to cut travel times, improve efficiency within the roads network, relieve congestion of vehicles in certain areas and attract more people to the area, as it will be quicker to access.
But you can’t just look at infrastructure investment when searching for a good location for your development; one of the other things you should consider is growth rates. The latest RP Data figures show that although values across Australia have fallen, New South Wales regional areas such as the Hunter and Illawarra are still performing well with median house prices up 2.2% and 3.6% respectively over the past 12 months. Both are in close proximity to Sydney, and this is a key reason for their standout performance.
John McGrath, CEO of McGrath Estate Agents, points out that Newcastle is a great example of an area growing for local reasons.
“It’s shedding its steel city image, and positive media attention is encouraging retirees, sea-changers and investors from as far as Melbourne, Brisbane and Sydney. Great value is available, and Sydney is just a two-hour drive. The median house price is currently $380,000, up almost 12% since 2009,” McGrath says.
Two weeks ago, the Newcastle Herald revealed figures from BIS Shrapnel that house prices are set to increase 18% in the next three years. It also states that residential properties in Newcastle are set to rise at the same speed as Sydney.
The Residential Property Prospectus for 2011-14 outlines an increased migration rate from Sydney, north to Newcastle and south to Wollongong, with Wollongong’s higher price levels resulting in a slightly lower growth rate compared with Newcastle and Sydney.
Sydneysiders’ migrations north and south are the result of a housing shortage in Sydney and a combination of higher prices and increased interest rates, according to the survey. It seems as though people are quite happy to commute to work one or two days a week to be relieved of the pressure of a huge mortgage.
When purchasing a property, we are told to “look for infrastructure”, so just what impact can an infrastructure project have?
I’m seeing right now a massive tightening of rental markets in two major Hunter towns I’m developing in. One town has a large coal mine that is being expanded. After many years in the planning, this expansion has been approved and now contractors are flocking to the area to work on the infrastructure required within the mine for it to expand. Once the project is complete the contractors will be replaced with additional full-time workers required to work the larger mine.
The other town is literally being put on the map by an interchange for a major expressway to be built. It’s a $1.7 billion infrastructure project, and the impact is being felt. All of a sudden we have seen McDonald’s, KFC, a new Coles supermarket and an Aldi store being built in this small town. Consequently, there are a lot of contractors working on the road works looking for rental properties and rental returns are increasing. Employment prospects are bright now in this small town.
Although we love infrastructure spend, other boxes the Hunter Region ticked when I was researching the area include:
- Proximity to Sydney
- Affordability
- Strong rental demand and low vacancy rates.
- Undersupply of new housing
- Strong population growth – Maitland has been the fastest-growing inland town of NSW for a few years running
- Diverse economy – although the mining industry supports the area, the wine, hospitality, tourism and retail industries are also providing many jobs
- Large lots of residential land
Developing property is challenging, and getting it right takes a lot of time and research. But we are lucky to have a plethora of information and statistics provided to us by qualified researchers, companies and the media. So it’s up to you to sift through it all and work out what may be a viable location for your property development. Good luck!
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Property Bloom</a>, which manages property development.
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Why infrastructure is important to your investment

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Market forces are aligning for investors in prime office property in Sydney CBD, with CB Richard Ellis forecasting total returns of 20% by 2012, according to CBRE global research chief Kevin Stanley.
More than half of this total return will come from rent increases of 10 to 12% in 2012 as the office market recovery finally gathers pace.
Stanley told Property Observer the two other factors contributing to totals returns (income and capital appreciation) of 20% will be a drop in incentives – forecast to reduce from 29% to 22% through 2012 – and a “slight compression in the capitalisation rate”, which will push up building valuations.
Incentives currently offered to tenants include rent-free months and free office refits.
Speaking to more than 350 people at CBRE’s annual Sydney Market Outlook breakfast, Stanley said he expected the prime office vacancy rate to be as low as 6% by the end of the year.
<img src="/images/stories/cbrejuly21.gif">
“While there is some scope for a slight compression in investment yields, income growth will be the key value driver in this recovery,” Stanley says.
“It has taken longer than we may have initially expected, but prime rents are increasing and incentives are starting to move down, and this combined will provided a super boost to returns over the next 12 to 18 months.”
The Sydney prime market is also likely to be boosted by an Asia-Pacific market performing poorly relative to stronger markets like Hong Kong and Singapore.
Stanley says this will encourage offshore investment in Australia given the positive market fundamentals and the likely opportunities for future capital value growth.
“There’s an interesting contrast between Australia and the rest of world, where you could argue pricing has moved ahead of the improvement in the fundamentals, and at some point Australia is going to have to catch up,” he says.
“Globally, we are still seen very much as a growth region where investment capital will continue to flow, and we’ve continued to see this in the current quarter, with approximately 50% of all purchases having been to foreign investors.”
Across Australia, prime office yields are set to contract by an average of 15 basis points up until 2016 in a tightening cycle that began in 2009.
More modest returns of between 10% and 15% are forecast for the Macquarie Park, Sydney suburban, North Sydney and Parramatta office markets.
Macquarie Bank and the Property Council of Australia’s joint autumn 2011 office report forecasts that Sydney prime office rents will rise to an average of $849 per square metre from a current level of $833 per square metres with yields declining slightly from 7% to 6.9% over this period.
Perth is forecast to have the dearest prime office market by January 2012, according to the Property Council and Macquarie Bank, with rents rising from $837 to $859.
Six out of eight commercial property experts polled in the report say Melbourne is currently the hottest prime office market, with Perth and Sydney picking up a vote each.
On the global front, CBRE head of research for Asia Pacific Nick Axford says that while uncertainty still prevails, there are now clear signs of stability in most major property markets around the world.
Hong Kong and Singapore are among the markets that have experienced strong growth in recent times.
However, he says capital markets are showing clearer signs of recovery than the occupational markets and the speed of the recovery varies markedly from region to region and from city to city.
“Prime property looks attractive relative to other asset classes, and this is driving global investor demand,” he says.
“Investors are targeting only the very best quality, prime-grade property with a focus on the quality of covenants and income streams and the larger, more liquid markets.”
Returning to Australia, CBRE forecasts a more modest total return of 10 to 13% for the industrial sector in Sydney, where leasing demand has improved and property construction activity has resumed, with a clear focus on the arc stretching from Port Botany through the M5 corridor and to the outer west.
Stanley says the retail property market is facing its biggest challenge in 20 years due to consumers saving and not spending, low household confidence and an accelerating online retailing sector.
According to Stanley, there is still significant potential for more global retailers to come into the Sydney market, which is currently running second to Melbourne in regard to the representation of global retailers.
“Sydney has suffered from an overall low and falling ranking in global retailer representation by world standards. An increase in global retailer numbers would help fill the higher-than-usual vacancy in the retail sector, sustain the current high rentals and help bring the wow factor back into the retail sector.”</body></html>

Sydney prime offices to yield 20% returns for investors: CBRE

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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.
 
Ghost towns, people living in the husks of houses and mum and dad investors unable to make ends meet. This is the picture of many Queensland suburbs six months after the floods.
All indicators show that sales activity in flood-affected Queensland has ground to a halt. 
Values have plunged. Tenants are scarce on the ground. 
Economic forecaster BIS Shrapnel does not expect any improvements for another six months to a year. 
“Confidence in Queensland is totally shot and the flood-affected areas are really doing it tough,” BIS Shrapnel director Robert Mellor says. “Construction has fallen so low that it is in line with rates of 15 years ago and close to recession levels of the ’90s. It’s pretty diabolical.” 
According to Mellor, there has been no increase in housing stock and no increases in the sale of building materials. “There is very little evidence of significant rebuilding going on,” he says. 
Oddly enough, the recovery in some suburbs is led by tradies buying up wrecked houses with a view to renovate and hold them as investments, hoping the memories fade fast. 
Local Ipswich agent Peter Mendoza says prices in some streets have dropped 45%. 
“A house in Jacaranda Street, East Ipswich recently sold for $150,000. Before the floods it was listed for $265,000,” he says. 
Residential property prices in Ipswich and the Lockyer Valley have tumbled, with the marketing ads tinged with desperate terms including “urgent sale”, “make an offer” and “huge price reduction” on houses with asking prices of less than $200,000. 
REIQ chairwoman Pamela Bennett says people are holding out for as long as possible by living in what is left of their houses or in caravans, unable to afford rent, and small investors are facing impossible financial pressure. 
In North Booval, a suburb of Ipswich, houses languish untouched with nothing but the grass showing healthy growth. 
“Only people with contacts in the building industry are getting work done – others are trying the weather it out. Towns like North Booval are ghost towns, with the uninsured living in damaged buildings unable to qualify for assistance. Those houses that have been fixed cannot attract tenants because nobody wants to live somewhere so depressing,” Bennett says. 
Many houses once worth $280,000 are now not worth their mortgages, and banks will not lending for rebuilding. 
“Such a considerable sector had no flood insurance, and when they do get grants they often do not cover the cost of damage. Those properties that do sell sell for land value,” Bennett says. 
According to REIQ’s March quarter figures, the Brisbane suburbs of Moorooka, Graceville and Kenmore have all fallen by about 5%, but the number of sales in other areas is so low that recording accurate statistics is difficult. 
Even the non-flood-affected prestige area of Paddington has suffered, with median prices down by 30% to $695,000, reflecting the overall softness of the Queensland market, according to the REIQ data.</body></html>

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Queensland market doing it tough six months after floods

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There is mounting evidence to suggest that <country-region><place>Australia</place></country-region>’s housing market rests at a critical juncture. The first two charts below show the evolution of Australian dwelling values since 2000 and 2006, respectively. You can clearly see the latest innovation in the housing cycle, wherein overall Australian home values (blue line) have tapered by a modest 2.3%. The question on everyone’s lips is: what lies in wait?
Before I address this, it is interesting to inspect the charts more carefully. Observe, in particular, how Sydney dwelling values have massively underperformed the rest of the Australian market over the last 11 years or so (black line, first chart). It is also fascinating to note that even though the Perth and Brisbane housing markets have suffered 7.5% and 5.9% declines in the past year, they have actually been our two best-performing conurbations over the past 11 years.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyejune211.jpg"><img src="/images/stories/joyejune211thumb.jpg"></a>
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyejune212.jpg"><img src="/images/stories/joyejune212thumb.jpg"></a>
In my opinion, the near-term destiny of Australia’s housing market very much depends on next week’s second-quarter inflation numbers. If inflation is low, the RBA will likely be on the sidelines for the rest of the year. It can argue that it was vindicated for not responding to the very high first-quarter results, and will in any event be downgrading its economic growth forecasts for 2011, which were always on the high side.
Talk in the media will galvanise more firmly around rate cuts. Consumers will start to scale back their still extraordinarily hawkish interest rate views (see chart below), with 84% anticipating rate hikes. Given the average Australian thinks he will be hit by two or more rate hikes in the next 12 months, it is no surprise that underlying economic conditions have been so soft.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyejune213.jpg"><img src="/images/stories/joyejune213thumb.jpg"></a>
In this low-inflation scenario with no future hikes and the prospect of cuts, our forecasting models predict that Australia’s housing market has the ability to start grinding out very modest capital growth, which, of course, should be complemented by healthy rental returns (see next chart).
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyejune214.jpg"><img src="/images/stories/joyejune214thumb.jpg"></a>
In the less favourable alternative, where inflation next week is reported high – at, say, 0.8% for the quarter or more – it saddens me to say that our beloved central bank will be very much on the interest rate warpath. That means the likelihood of a rate hike, or hikes, before the year is out. And the half-nelson that the RBA currently has <country-region><place>Australia</place></country-region>’s housing market in will only tighten. 
These crossroads are best illustrated by the divergence of beliefs between economists and the financial markets. The following chart shows ANZ’s interest rate forecasts contrasted against the futures market’s expectations. Whereas the futures market is predicting rate cuts, ANZ thinks we will get hikes.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyejune215.jpg"><img src="/images/stories/joyejune215thumb.jpg"></a>
Who is right? We cannot tell at this point. It all depends on inflation. So, if you are looking to buy but have not found a place yet, you should be hoping for a high inflation outcome, which will inevitably result in persistent, interest rate-induced pressure on prices. If, on the other hand, you are looking to sell, you should be praying for a low number next week.
Christopher Joye is a leading financial economist and works with <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" target="_blank" title="Rismark International" href="https://www.rismark.com.au/">Rismark International</a>. Rismark and RP Data provide house price analytics products, and solutions that enable investors to go long and/or short the housing market. The above article is not investment advice. You can follow Christopher on twitter at <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://twitter.com/#!/cjoye" title="Follow Christopher Joye" target="_blank">@cjoye</a> or read his blog.
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