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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Perth’s CBD office market has started to simmer, with more than $533 million worth of substantial office building sales clocked this year.
Major sales last year totalled about $150 million.
Stockland has sold its 50% holding in the 52-level BankWest Tower on St Georges Terrace (pictured) for $130 million to joint owner Brookfield Prime Property Fund.
South Australia’s Motor Accident Commission has picked up the CBD’s most eco-friendly new building at 226 Adelaide Terrace for about $100 million from the First State Group.
These two sales are the most recent in a spate of buildings to change hands in Perth. Last year not a single major investment was sold.
One of the biggest deals being done in Perth this year was an option to buy 192 St Georges Terrace, which the Commonwealth Property Fund was offloading for $152 million. The fund is also selling its Mill Street property.
Other sales include 99 St Georges Terrace, which was bought by a Singaporean investment group, and 432 Murray Street also changed hands for about $30 million.
The UK-based insurance company Standard Life bought 182 St Georges Terrace for $30 million and the Perth-based investment syndicate Australasian Property Investments paid $30 million for 30 The Esplanade.
CB Richard Ellis’s Andrew Woodley-Page, who negotiated two of the deals, says most of the current sales took more than a year of marketing to secure a transaction.
“It looks like the market has gone mad, but it is pertinent to note that nearly all of these sales have taken between nine and 18 months of marketing to sell. There is a willingness to buy investment quality office buildings in Perth, but buyers remain conservative and cautious,” he says.
The only investment to sell within six weeks of marketing was 226 Adelaide Terrace.
“The fundamentals of the Perth market are very sound. Once the flow-through of the current development cycle has been taken up, we will see very tight vacancy rates in the CBD since there are no more big projects in the pipeline,” Woodley-Page says.
All of the buildings that sold are well-leased to mostly prestigious tenants, and yields range from 8.4% for both The Esplanade and 99 St Georges Terrace to 10.7% net on 197 St Georges Terrace, which was bought by Sydney’s GDI Property Group.
Several other major deals are being closed, including the a 10-level office building at 251 St Georges Terrace for more than $65 million to investors and the New Esplanade Hotel site for about $20 million. Both vendors are receivers and managers.
According to John Williams, managing director of Colliers International, the activity indicates investor confidence.
“There is a lot of confidence in the future strength of the Perth CBD market. There were no sales last year for the first time in more than a decade, and that caused pent-up demand. Owners knew the vacancy rate was tightening and rents rising, so they held out and have benefitted,” Williams says.
Another smaller sale is underway for 41 St Georges Terrace for $17.5 million and a further two similar deals are currently going through due diligence.</body></html>

andreadixon-oif3j7eKne

After a year of few sales, Perth CBD office market heats up

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Close to the CBD and brimming with culture, trendy-chic shops and great restaurants, it is no wonder that Sydney’s inner west has quickly become one of Sydney’s most desirable living locations.
In general, Sydney property markets are in a period of consolidation (flat prices). The property market has weakened in 2011, with RP Data figures showing a decline of 2.2% nationally for the March quarter. For Sydney we registered a decline of 1.1%. More specifically, Sydney auction clearance rates have hovered around the 52-58% mark in the past few months.
However, the inner west continues to defy the odds and show strong demand. This can be attributed to the favourable buyer demographics – young professionals and investors. Many couples with children are choosing to renovate or upsize and remain in the inner west for lifestyle reasons, rather than relocate further out to suburbia. This has contributed to the gentrification of many pockets of the inner west.
According to Domain, Balmain East is currently the fastest-growing suburb for houses in Sydney, with median prices now at $1.9 million, and Glebe the second fastest growing suburb for units with median prices at $614,000. St Peters is third with a median of $494,000.
With forecast rising rental yields, investors are starting to buy into the inner west market, especially units. Sydney’s gross rental yield for units is now 5.01% and houses 4.38%, according to March 2011 APM data.
Australian Property Monitors’ prediction of top-10 best performers released in February 2011 included inner west suburbs of Balmain East, Breakfast Point and Leichhardt, all with 10%+ return forecasts.
Inner west houses are slated by APM for 6% growth this year (with places such as upper North Shore at only 3%). Inner west units are slated for 5% growth (with upper North Shore and northern beaches at -1%).
Development
With the current light rail planned extension adding nine new stops from late 2012 at Leichhardt North, Hawthorne, Marion, Taverners Hill, Lewisham West, Waratah Mills, Arlington, Dulwich Grove and Dulwich Hill interchange, the inner west will become even more appealing to potential buyers who are looking for an ideal work/life balance.
The inner west has been a bastion of stability in a Sydney market, which has generally deflated since last November. We haven’t seen double-digit growth here like we did in 2010, but turnover is steady – properties are selling. Buyers and sellers alike are achieving results, which are not the case in many other Sydney regions.
Top picks for hot growth spots
The following suburbs should continue to do well as demand for houses outpaces supply:
Erskineville, Newtown, Glebe and Lilyfield for units. Breakfast Point, Balmain (including Balmain East), Rozelle, Lilyfield and Newtown for houses.
With the rebound of CBD-based jobs and salaries for professionals, and increasing rental yields for investors, the inner west finds itself a shopping ground for a diverse set of buyers, fostering a steady and healthy property market. Owner-occupiers and renters alike are choosing the inner west for lifestyle reasons.
So, if you are on the lookout for your first property, or your next investment, here are five tips to help you along the way:
Know the neighbourhood inside-out. Inner west has many sub-pockets. Some areas are gentrifying and attracting professionals, while others are still run-down. Prices in one zone may be significantly different from another just two streets away.
There is a lot of new development in the inner west. If you are buying anything built within the last 10 years, do your research on the building! Many people assume that new buildings have fewer problems; in fact they tend to have more, due to the fact construction defects are still being sorted out. Despite required builders’ warranties, many are not honoured and lawsuits are common.
For units, look for features that appeal to gentrifying buyers: security, parking, internal laundry, large living space. A unit can be renovated, but key features cannot be added.
For houses, make sure you understand the details. No two houses are alike and there can be significant variation in price on one street alone. Factors such as aspect, high/low side of street, structural integrity, easements and zoning can affect value significantly.
Appraise the unit and make a fair offer as soon as possible. Given the negative headlines, vendors may be a bit more nervous than last year about selling and thus are more likely to accept offers before auction. However, the inner west market is still strong and the longer you wait, the more buyers who will be ready to compete with you.
Oliver J. Stier is the director of <a target="_blank" title="OH Property Group" href="https://www.ohpropertygroup.com/">OH Property Group</a>, a Sydney-based buyers agency. In addition to being a licensed real estate agent, Oliver also holds the Chartered Financial Analyst (CFA) designation. You can follow Oliver on Twitter at <a href="https://www.twitter.com/ohproperty">www.twitter.com/ohproperty</a> 
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oliverstier-Cu9aF99VRm

Sydney’s inner west continues to defy market odds 

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Analysts say shopping centre landlords such as Westfield, which have quality portfolios, are insulated against the current tough trading conditions anchor tenants such as David Jones are experiencing.
It follows David Jones, which has nine out of its 37 department stores in Westfield shopping centre, issuing a profit downgrade yesterday with total sales for the fourth quarter of the 2011 financial year expected to be about 11% lower than forecast.
Analysts claim landlords of marginal shopping centres are at a greater risk in the current retail environment.
News of the David Jones downgrade came as a third shopping centre in the Austexx group, the Spencer Street Fashion Station at Southern Cross Station in the Melbourne CBD, was placed in the hands of receivers following the collapse of Torquay Central, in regional Victoria, and the Flinders Plaza in Townsville in the last two months.
David Jones CEO Paul Zahra blamed the downgrade on an unprecedented rapid deterioration in trading conditions.
However, analysts say the link between the troubles facing David Jones and Westfield are “somewhat tenuous”, with John Kim from investment group CLSA telling the AFR that while anchor tenants lease 56% of space in Westfield stores, they generate just 17% of income.
Furthermore, Kim says rents paid by department stores are not tied to sales, with David Jones holding leases averaging 15.4 years and Myer leases of 11.1 years.
According to Kim, other anchor tenants including Myer, Woolworths, Coles, Target and Kmart are performing well.
As a result, brokers are recommending Westfield Retail Trust, the subsidiary which accounts for the group’s 54 shopping centres in Australia and New Zealand, as a buy and are expecting a Westfield earnings forecast upgrade in August.
Rental growth is expected to remain positive, but at a subdued level.
Westfield will also benefit from an increase in demand for retail space from international brands targeting Australia.
Apple is set to spend more than $10 million on its first retail site in Brisbane, British clothing operator Topshop is eyeing up vacated Borders stores for its expansion and European fashion giant Zara is also set to open a flagship store in Brisbane.
The David Jones downgrade comes six months after the Productivity Commission launched its inquiry into the state of the Australian retail sector.
Retailers such as Coles and Myer and the collapsed REDGroup – all anchor tenants in many Westfield shopping centres – have complained of retail rents and occupancy costs being among the highest in the world.
In its submission to the commission, Westfield defended the rents it charges, arguing they are determined by market forces and fair given the foot-traffic generated through their shopping centres.
David Jones is yet to make a submission to the Productivity Commission.
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lschlesinger-FZcF9M3vE6

‘Quality’ shopping centres insulated against tenant woes: analysts

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Plans by almost one out of two Australian manufacturers to move their operations offshore could have serious implications for industrial property demand, a new survey has found.
Nearly half (46%) of manufacturing executives say their companies are looking into sending their operations offshore, while three quarters are concerned about manufacturing being sent overseas in the future, according to a survey by researcher Huthwaite Asia Pacific.
The survey, which drew response from 101 sales directors, marketing executives and general managers in the manufacturing industry, found that about a quarter of manufacturing companies are already combating competition from cheaper overseas manufacturers by moving their entire operations – or a strategic part – overseas.
Mark Courtney, director of research at Colliers, estimates between 15% and 25 of industrial property is owned or tenanted by manufacturers, meaning a drop in demand from the sector could have serious consequences.
Currently, the industrial sector is the poorest performing commercial sector in Australia. It is performing below the commercial property average, according to NAB’s Industrial Property Index.
However, NAB forecasts a recovery over the next 12 months.
Industrial hotspots have emerged in Melbourne’s west, where rents have risen above pre-GFC levels, and in Sydney’s outer west. In both cases demand has come from logistics and transport businesses. However, many CBD industrial markets are still trading below pre-2007 levels.
According to the Huthwaite survey, the majority of manufacturing executives want the government and industry associations to do more to help local manufacturers.
Huthwaite managing partner, Adam Thorp says the survey results reflect a worrying trend of local companies heading offshore, which is increasing with the high Australian dollar.
“Australian manufacturing has been in retreat for several years, with the cheap labour, manufacturing facilities and tax breaks of other Asian economies enticing companies to move their operations offshore,” he says.
“These latest survey results, which come in the wake of the rising Australian dollar, suggest this trend will continue and increase in the future.”
The Aussie dollar finished second only to cheap overseas products as the biggest stumbling block to competing with overseas manufacturers, the survey found.
China (79.3%) was identified as the leading competitor, ahead of India and Korea.
Survey respondents came from diverse manufacturing sectors including food, textiles and clothing, petroleum and coal, metal products, and machinery and equipment.
To combat the threat of cheap imports, more than half of respondents said their companies were repositioning their products as superior to overseas alternatives, while 24.7% said they were decreasing operational costs and/or downsizing.
Manufacturing executives believe about a third of Australian consumers are willing to pay up to a 10% premium for Australian-made goods.
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Demand for industrial property at risk as manufacturers consider offshore

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Australia’s two-speed economy is flowing through to demand for office space, with vacancy rates tightening in Perth and Brisbane, but easing off in Sydney, Melbourne and Adelaide.
The vacancy rate in the Perth CBD, which became Australia’s tightest CBD office market in the first quarter of 2011, tightened again in the second quarter from 5.6% to 5.4%.
Prime gross effective rents in Perth increased by 3.9% in the second quarter and have risen by 11.2% since a trough in the rental cycle was recorded in the third quarter of 2010.
Jones Lang LaSalle’s national head of office leasing, Kevin George, says large resource companies continue to be active in the Perth market.
“Investment spending in the sector remains at very high levels and businesses are moving quickly to secure space to accommodate their expected increase in headcount,” he says.
According to George, the next 12 months will see further rent escalations in Perth.
Prime office rents in Perth are expected to reach $859 per square metre by January, according to forecasts by the Property Council of Australia and Macquarie Bank.
Major office projects due to be completed over the next 12 months are expected to release significant amounts of backfill space, with George expecting a large proportion of the backfill space to be pre-leased prior to availability.
The biggest project is City Square North, at 123 St Georges Terrace in the Perth CBD, being developed by Brookfield Office Properties.
It will have mining giant BHP Billiton as its anchor tenant when it is completed in early June. Other tenants include international gold company Barrick, and PwC.
The development will comprise more than 75,000 square metres of office space in City Square Tower and a total of 7,126 square metres of retail space.
Brookfield has now lodged an application for a second, 16-storey office tower with about 30,000 square metres of net lettable area proposed.
It’s a similar story in Brisbane, where the vacancy rate has dropped to 6.8% in the second quarter of 2011 from 7.9% in the first quarter.
There was a net absorption of 11,000 square metres in the quarter, with the bulk taken up by mining companies.
BHP Billiton Mitsubishi Alliance has leased 6,000 square metres at 12 Creek Street and Rio Tinto leased another 1,600 square metres at 33-35 Herschel Street.
“Tenants are becoming increasingly aware that the window of opportunity to negotiate a favourable leasing outcome in Brisbane is closing,” George says.
“The sentiment in Brisbane will continue to improve when a number of pre-commitments, which are at an advanced stage of negotiation, are concluded for One One One Eagle Street.”
One One One Eagle Street, on the CBD side of the Brisbane river, is being developed by GPT and will accommodate more than 62,500 square metres of premium grade office space across 44 levels when it is completed later in 2011.
However, the Sydney and Melbourne prime office markets have been impacted by the resurfacing of the European sovereign debt issues in the second quarter of 2011 and the flow-on to business confidence in the finance and insurance sector.
Despite a strong net absorption result in the second quarter of 2011 (totalling 28,900 square metres), vacancy increased to 8.0% in the Sydney CBD.
Andrew Ballantyne, director of national office market research for Jones Lang LaSalle, says the primary reason for this increase was the quantum of backfill space left by CBA after its consolidation of multiple tenancies to the new development at Darling Quarter.
Melbourne CBD vacancy rates have risen to 6.0% following a net absorption of 11,600 square metres of prime office space and a rise in vacancy to 6.0%.
The negative result in the Melbourne CBD was largely attributed to the relocation of the Spotless Group from 350 Queen Street to St Kilda Road in a 10-year lease agreement negotiated by Colliers International’s office leasing director Ben Christie.
Rents increased by 1% in the second quarter. Since bottoming out in the second quarter of 2009, prime gross effective rents are up by almost 12%.
In Adelaide, vacancy increased marginally to 7% in the second quarter of 2011. However, the vacancy rate remains below the long-term average and has resulted in prime gross effective rents rising by 2.5% in the quarter and 9.4% over the past 12 months.
In Canberra rents were unchanged despite the rise in vacancy to 13.0% – a record high for the Canberra office market.
Across CBD office markets, positive net absorption of 24,800 square metres was recorded in the second quarter of 2011 with vacancy rate increased slightly to 7.6% from 7.4% in the first quarter of 2011.
While the quarterly net absorption was well down on recent quarters, net absorption in the 2010/2011 financial year was 279,700 square metres.
Jones Lang LaSalle expects below equilibrium vacancy rates in a number of office markets and a moderate development pipeline will combine to cause upward pressure on prime office rents in the June quarter of 2011. 
 
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Resources a boom for Perth and Brisbane office markets

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Hardly a week goes by without another international survey rating how our capital cities compare with the rest of the world.
The us-versus-them notion always gets ready headlines.
But of course the real rivalry lies between our capital cities, and sometimes even the boardrooms of the country get caught in the crossfire.
The latest international survey had Sydney jumping 10 places to be the 14th most expensive city for expatriates to live, ahead of London and New York, according to Mercer’s annual cost-of-living survey.
Collectively we perhaps smugly like the idea of ripping off international semi-permanent residents to our capital cities, but the bit about outdoing New York and London does seem to be stretching credulity.
The business consultancy survey revealed all the Australian cities recorded dramatic shifts in ranking as the Aussie dollar gained almost 14% against the US dollar.
Melbourne moved from 33rd to 21st and Perth surged 30 spots to number 30.
Up 44 places to 46 was Adelaide. It was Australia’s highest riser, apparently due to a dramatic increase in rental prices where market supply was extremely low, which would please South Australian property investors.
The survey, which covers 214 cities across five continents, still uses New York as the base city, with all other locations compared against it, which takes some of the sheen off our elevated , but probably transient status.
 
And Australian cities remain among the most affordable destinations across the Asia-Pacific region, Mercer notes.
Last week it was that rising Australian dollar, and increasing house prices, that meant Australia outdid New York again. Australia claimed four of the world's 15 most expensive cities to live in, according to the global living cost survey of 133 cities released by the Economist Intelligence Unit.
Four Australian cities are now costlier than London, Rome, Berlin, Hong Kong and Beijing.
Sydney jumped from 32nd place just two years ago to sixth spot on the list, with Melbourne up from 38th to seventh, with overall living costs some 40% higher than New York.
Perth and Brisbane, which are almost 25% more expensive than New York, are ranked 13th and 14th.
The Australian cities' rankings have rocketed sharply over the past decade. Sydney ranked 71st most expensive in 2001 with Melbourne 80th, Perth 91st and Brisbane at 93rd with survey author Jon Copestake saying the strength of Australia's dollar was partly to blame for soaring living costs given it has climbed by about 120% against the US dollar, after bottoming out at US48.4c in 2001.
Any collective pride in our international positioning belies the internal rivalries.
It seems even Australian corporates get bogged down with capital city rivalry, as revealed in a confidential Westpac Bank board briefing.
The leaked document described Melbourne as a “provincial global community” and Sydney as ''bright and brash''.
Probably a fair call.
The journalist who wrote the expose was Eric Johnston, the banking writer for The Age and Sydney Morning Herald. He ought know the not-so-subtle differences, as he divides his time between the two cities.
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jchancellor-FAypfDUnLy

Bright, brash, provincial – but we're still world-beaters

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Zara could establish up to 40 stores in Australia during the next few years, a retail consultant says, as the Spanish fashion retailer prepares to open in Brisbane.
Brian Walker of The Retail Doctor Group estimates Zara’s stores in Sydney and Melbourne are likely to turn over about $45 million in their first year of operation, with the Sydney opening said to have been the second most successful in its parent company’s history.
Walker says Zara is a “huge success story in what is reported to be a cautious market” and that its growth is sustainable. There are 1700 Zara stores worldwide.
“Zara wouldn’t contemplate setting up without settling in the major cities as a bare minimum,” Walker says.
“It wouldn’t surprise me if they had between 20 and 40 stores (in Australia) within the next five years.”
According to Walker even with Australia’s relatively small population Zara could find at least 100 good sites in shopping centres across the country and might set up some of its other brands here.
According to The Australian Financial Review, Zara is looking for at least 800 squares metres in the Queensland capital, with the main target the Queen Street Mall precinct, home to high-end retailers including Tiffany &amp; Co and Swarovski.
Another site reportedly of interest is a nearby store that once housed a Borders book chain outlet.
At 800 square metres the Brisbane store would be much smaller than the 1400-square-metre Sydney CBD Westfield store but Walker says going on conservative turnover estimates of $35 million for Sydney the Brisbane store could turn over between $20-$24 million.
Walker says he is not surprised by reports that Zara is demanding turnover-based rent, saying as an anchor tenant it has arrived with plenty of bargaining power, similar to other department stores.
The arrival is somewhat of a mixed bag for competing retailers Walker says, with a store such as Zara generating much needed traffic and providing a destination for shoppers who might otherwise shop online.
“With Westfield Sydney the whole ambition is bringing people into the centre,” Walker says.
“But if you’re trying to sell fast disposable fashion next door, with less contemporary offerings and at less attractive prices, it’s a wake-up call,” Walker says.
This story first appeared on <a href="https://www.smartcompany.com.au/news">SmartCompany</a>.
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Zara aims for Brisbane as Australian expansion ramps up

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The historic Olderfleet building in Collins Street has been listed for sale by the Australian Unity Property managed office trust.
Offers for the intricate neo-Gothic facade building at 477 Collins Street close August 11. CB Richard Ellis institutional investment properties division agents Martin O’Sullivan and Mark Coster are handling the sale.
Its most recent valuation was $65.4 million as at November 2010. As at December 2009 there was a $63 million book value for the building – a decrease of $3.75 million from its 2008 book value.
Olderfleet is 100% leased, and the car park is leased and operated by S&amp;K Car Park Management. Its office tenants include Accenture, CapGemini,  Ernst and Young, Melbourne Conference &amp; Training Centre and Allens Arthur Robinson law firm.
There are price expectations of $72 million.
The complex consists of an eight-storey office building behind a series of classified historic facades dating back to 1884 – and protected from demolition during the 1970s building boom by public lobbying – a well as a large car park.
With a dual frontage site of 3,899 square metres, it has more than 40 metres of prime retail frontage on Collins Street.
The office investment has 11,986 square metres of net lettable area and a commercial car park of 598 bays off Flinders Lane.
Located between William and King streets in the CBD's popular western core, the property is currently substantially under-rented.
It has a net passing income of $5.7 million per year.
The office complex was built by Becton in 1985 behind the row of three historic terraces.
It was sold in 1994 by Becton Corporation for $40 million to Singaporean interests at a yield of 14.75% on its then net income of $5.9 million a year.
The sale occurred about the same time that Michael Buxton retired from Becton, thereby ending his two-decade long partnership with Max Beck.
It was later sold to the Acumen Office Trust established by Multiplex Capital in 2002 for $56 million.
Multiplex Capital achieved strong returns for investors, delivering an income yield of 9% per annum for the two years to 2007 which represented a total return of 11.3% over the five-year period. By 2007 Multiplex Capital had renewed leases for more than 11,000 square metres of space.
In 2007, after sounding out investors, there was a transfer of management rights to Australian Unity Property Limited.
“No one is celebrating wildly just yet, but there is strong evidence to suggest that the commercial property market is on the way to recovery and that the GFC is behind us,” Martin Hession, the head of property at Australian Unity Investments, told investors in his autumn 2011 review.
“During the December 2010 quarter, the commercial property market continued to improve, as valuations, sales activity and underlying economic fundamentals gained momentum.
Investors were told while commercial property values still remained relatively subdued, compared to pre-GFC valuations, there were indications of a broad correction across the market as assets came back towards fair value.
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Collins Street heritage office listing seeks to shed Gothic gloom

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<img src="/images/stories/attadale-cropped.png">
Figures released by SQM Research have revealed residential listings fell by 5,650 to 363,839 nationally in June.
It was a 2% decrease from May, yet still a 23% increase compared with June 2010.
Each capital city experienced a month-on-month decline except Darwin, where stock rose by 1% from May.
The capital city to record the largest month-on-month decline was Hobart, falling by 6% to 1,809.
The capital city to record the largest year-on-year increase was Melbourne, rising 47% since June 2010 to 43,308.
No capital city recorded declines in stock year-on-year, though Brisbane recorded the most modest growth, rising by 19% to 30,080 since June 2010.
“This is the second consecutive monthly decline in listings and although to a certain extent this result can be attributed to seasonal factors, as we enter into the quietest time of the year for new listings, it is possible that stock levels have now peaked for the cycle,” SQM Research managing director Louis Christopher says.
"Real estate listings remain at levels high enough to record overall house price falls, however we note that the level of listings may have also finally peaked.
"It's too early yet to call a bottom in the current housing downturn and even when it eventually does come, a recovery is very likely to be slow. But clearly we are much closer to a bottom in the market than where we were 12 months ago.
"Much is dependent upon the direction of interest rates and any type of meaningful government intervention in the marketplace."
Flora Street is one of four WA entrants on the list of 10, along with Stock Road, in Attadale (pictured above).
 Top 10 most discounted properties
Rank 1
Address: 4 Flora Street
Suburb: Midland, WA
Postcode: 6056
First seen: 16/08/2009
Initial price: $1,900,000
Now asking: $850,000
Reduction: 55%
Days on market: 687
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008173508">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008173508</a>&gt;
 
Rank 2
Address: 1350 Wynnum Road
Suburb: Tingalpa, QLD
Postcode: 4173
First seen: 06/11/2010
Initial price: $700,000
Now asking: $380,000
Reduction: 46%
Days on market: 238
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106966579">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106966579</a>&gt;
 
<img src="/images/stories/most-discounted--boolari-cropped.png">
Rank 3
Address: 3 Boolari Road (above)
Suburb: Gosford West, NSW
Postcode: 2250
First seen: 08/07/2009
Initial price: $990,000
Now asking: $580,000
Reduction: 41%
Days on market: 724
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903</a>&gt;
 
Rank 4
Address: 1/21 Ocean Drive
Suburb: Coogee, NSW
Postcode: 6166
First seen: 23/05/2010
Initial price: $2,700,000
Now asking: $1,600,000
Reduction: 41%
Days on market: 405
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106550670">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106550670</a>&gt;
 
Rank 5
Address: 232-234 High Central Road
Suburb: Macleay Island, QLD
Postcode: 4184
First seen: 11/01/2009
Initial price: $279,000
Now asking: $175,000
Reduction: 37%
Days on market: 903
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007562500">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007562500</a>&gt;
 
Rank 6
Address: 25 Vicary Street
Suburb: Triabunna, TAS
Postcode: 7190
First seen: 02/08/2010
Initial price: $299,000
Now asking: $189,000
Reduction: 37%
Days on market: 336
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614</a>&gt;
 
Rank 7
Address: 290 Viveash Road
Suburb: Swan View, WA
Postcode: 6056
First seen: 05/06/2008
Initial price: $2,290,000
Now asking: $1,500,000
Reduction: 34%
Days on market: 1124
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295</a>&gt;
 
Rank 8
Address: 3 Zelma Court
Suburb: Macleay Island, QLD
Postcode: 4184
First seen: 23/05/2010
Initial price: $380,000
Now asking: $250,000
Reduction: 34%
Days on market: 405
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317</a>&gt;
 
Rank 9
Address: 46a Stock Road
Suburb: Attadale, WA
Postcode: 6156
First seen: 21/03/2010
Initial price: $2,690,000
Now asking: ^$1,790,000
Reduction: 33%
Days on market: 468
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106404560">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106404560</a>&gt;
 
Rank 10
Address: 1/16 Dewar
Suburb: Ledge Point, WA
Postcode: 6043
First seen: 15/11/2009
Initial price: $375,000
Now asking: $250,000
Reduction: 33%
Days on market: 594
 &lt;<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106138206">https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106138206</a>&gt;
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West Australia dominates top-10 discount list

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House rent increases have lagged increases for apartment over the past five years, according to the latest RP Data rental report.
Capital city rents increased at an average annual rate of 7% for houses and 7.9% for units over the past five years.
But since 2009, capital city house rents have increased by just 4.1% while units have performed relatively stronger with rents increasing by 8.6%.
Across the nation, house rents have increased by just 4.3% since the beginning of 2009, while unit rents are up by 7.6 %.
Mr Kusher said the result is an indication that rental demand for units has been much stronger than for houses.
“The result reflects changing lifestyle patterns and the ongoing densification of inner-city areas and subsequent increasing demand for rental units in these regions,” he said.
For units, rents are most expensive in Sydney ($450/week) and Canberra ($430/week). Hobart is home to the most affordable rental units ($280/week), followed by Adelaide ($290/week) and Melbourne ($350/week).
Despite a quarterly slow-down in rental growth, the lack of first home buyers and limited supply of new housing may be creating increased competition, Mr Kusher said.
“This activity may be beneficial to investors who could see a boost in rental rates as vacancies tighten and fewer new dwellings continue to commence construction.”
Pilbara in the WA has the most expensive rents of all rental markets, at $1,650 a week for houses, according to RP Data.
Darwin has highest median rents followed by Canberra and Sydney. The cheapest capital cities to rent are Adelaide and Hobart.
Weekly rental rates increased nationally by 2.9% over the past year – slightly higher than the 2.7% increase in the capital cities.
The national median rental rate is currently $360 a week with the combined capital city median at $380.
According to the results, rental growth has tracked below average over the past 12 months; a trend which has been evident since early 2008 when rental demand started to slow.
“Combined capital cities rents increased by 2.7% over the year, which is below the inflationary figures to March 2011,” Mr Kusher said.
 
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