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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Property management is a highly legislated industry, and in order to maintain your own professional credibility and that of the industry, all aspects need to be adhered to at all times.
The current legislation has been in force since 1997 and as times change, technology advances, the legislation too must keep up. In the coming 12 months, we should see a review to Victoria’s Residential Tenancies Act.
That being said, one aspect of the act still astounds me that is not followed and that relates to the refund of bond money.
When a tenant provides 28 days’ notice to vacate and vacates the property, a final inspection must be completed and the bond must be either refunded or an application made to VCAT (Victorian Civil and Administrative Tribunal) within 10 working days.
The normal practice should go something along the following lines:
<ul>
<li>Keys returned</li>
<li>Final inspection completed</li>
<li>Tenant advised of any concerns</li>
<li>Owner advised of any maintenance, repairs, etc.</li>
<li>Opportunity provided to the tenant to return to attend to any matters of concern</li>
<li>If the matter cannot be resolved then an application is made to VCAT to retain the tenants bond under section S417,418 &amp; 419 of the Residential Tenancies Act. </li>
<li>The property manager/agent/landlord is required to provide evidence of any damage, repairs, arrears that should be deducted from the tenants bond. Evidence means photographs, reports from tradespeople, invoices, quotes, condition report (entry and exit) and any other communication or documentation that may be relevant.</li>
</ul>
All this must be arranged and attended to within 10 working days of receiving possession of the property. Communication is the key. Don’t stop talking to the other party, because nine times out of 10 the matter can be negotiated before the VCAT hearing.
Failing to adhere to the legislation could result in fines.
It’s also extremely important that owners understand and receive education on things such as depreciation (and how it’s calculated), the length of a tenancy and most important of all “wear and tear”.  It’s unrealistic for either a property manager or landlord to go to VCAT seeking replacement or compensation of a carpet in a house when the carpet may be 15 years old – depreciation of the carpet must be taken into consideration.
It is not only our legal obligation as property managers, but it is also in everyone’s best interest to ensure that bond is dealt with as soon as possible.
Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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leahcalnan-pwE6GD6KY9

Bond refunds can be a sticking point

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{yoogallery src=[images/stories/junr17bridgepoint]}
Luxury apartments and townhouses in Canberra’s waterfront Bridge Point development are being snapped up quickly, with 28 of the 35 dwellings sold off the plan less than two months after they came on the market in late April 2011.
The Kingston development, which is being marketed by Colliers International, comprises seven two-storey townhouses, three whole-floor penthouses and 35 one-, two- and three-bedroom apartments, all with views over Lake Burley Griffith. One-bedroom apartments start at $525,000, and the larger dwellings are all over the $1 million mark.
“Bridge Point is arguably the most prestigious residential address in Canberra and buyers will live on Canberra’s only residential island with private uninterrupted views that will never be built out,” says Colliers International director of residential project marketing Derek Whitcombe.
Colliers says that 98% of buyers are native Canberrans.
Although the ACT Government earmarked the site for 107 units, developer Doma Group decided on a more exclusive project. The building was designed by Colin Stewart Architects, which is also redeveloping the Kingston foreshore. When completed, the foreshore will include a boat harbour and jetty, boardwalk, restaurants and public spaces.
“Whilst there are many luxury apartments for sale in Canberra, there really is no development quite like Bridge Point,” Whitcombe says.
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cknowlton-QnEa6ntUYP

Luxury apartments in Canberra snapped up off the plan

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<a href="https://www.propertyobserver.com.au/residential/immigration-changes-lead-to-drop-in-demand-for-lower-end-student-housing/2011061350471" title="Demand is down for cheaper student housing" target="_blank">Demand for student housing at the cheaper end of the market is down</a>, but the market for accommodation tailored for university graduates is booming, with several major projects in the pipeline.
 
The number of foreign students enrolled in university courses in Australia continues to rise, while overall university student numbers decline.
According to official government numbers, from March 2010 to March 2011 higher education visa enrolments increased by 3.6% to 204,950, making up 53% of the 390,000 foreign students enrolled in studies in Australia. Most of the others are on VET visas. 
A year ago, students on higher education visas made up just 46% of the student market.
Students also contribute significantly to the economy, spending money on tuition and living expenses (including rent). 
The latest ABS migration data finds that from 2004-05 to 2008-09 education related spending by international students increased from $8 billion to $15.9 billion.
 
To meet the growing demand local and overseas property groups are investing heavily in new student housing projects within walking distance of or a short commute to universities.
Construction information provider Cordell says the number of new student accommodation projects in the pipeline has doubled in the past year, and projects currently on the go are worth more than $6 billion.
Melbourne’s Monash University, Sydney University, the University of NSW and Australian National University are all building or planning new student apartment buildings.
Architects Nettleton Tribe are working student accommodation projects including an $80 million, 485 apartment project for ANU being built by Baulderstone Hornibrook due to be completed in 2012. The company has also provided tenders for accommodation projects proposals put out by the University of Technology, Sydney and Southern Cross University for its Gold Coast and Coffs Harbour campuses.
Two of the bigger providers, Urbanest and Campus Living Villages, both have projects in the development pipeline targeting the university accommodation market.
In February Urbanest gained approval for a 30-storey student accommodation building in La Trobe Street in the Melbourne CBD.
Designed by Melbourne-based architecture firm dKO, the Melbourne development will be the tallest student accommodation building in Melbourne. It will be only 700 metres from the Royal Melbourne Institute Technology and just 1.7 kilometres from the University of Melbourne in Albert Park.
Urbanest CEO Andrew Lee says demand for its apartments “proves there is a strong demand within the domestic and international student market for a better accommodation solution”.
“This particular market is growing increasingly savvy and fast refusing overcrowded, unsafe and often unregulated student accommodation,” he says.
The up-market nature of the developments is outlined by Urbanest projects director James Childs, who says the objective is to offer students “privacy, with their own room and en suite” and the upper floors will offer “stunning views across Melbourne”.
Environmental initiatives include solar-heated hot water, recycled water, energy efficient glazing and the use of materials from sustainable sources.
CLV, which opened its flagship 1,021-bed, $127 million University of New South Wales Village in 2010, is working with planning consultants Urbis to develop “high-quality, affordable student accommodation” on land adjacent to University of Western Australia, following State Government approval in September 2010.
Urbanest opened new buildings in Adelaide and Sydney in February, both within walking distance of major universities.
The $57 million Adelaide student building on the corner of North Terrace and Bank Street has accommodation for 500 students and is just 650 metres from the University of Adelaide North Terrace campus. The $60 million Sydney CBD building at 83 Quay Street in Haymarket has accommodation for 334 students and is next door to the University of Technology, Sydney, and 10 minutes to the University of Sydney. 
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lschlesinger-FZcF9M3vE6

University housing graduates to the next level

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An average of 366,300 people moved interstate within Australia each year during the 10 years to June 2010.
The main movements were northward to Queensland, but this slowed in the 2009-2010 financial year, according to the latest data released by the Australian Bureau of Statistics.
With 42,000 annual relocations, the most prevalent moves were from New South Wales to Queensland in 2009-10. The counter-flows from Queensland to New South Wales ranked the second largest (35,400 people), followed by the flows from New South Wales to Victoria (22,700 people) and Victoria to New South Wales (20,100 people).
Queensland (25,900 people), Western Australia (1,600 people) and Tasmania (160 people) were the only states to record average annual net interstate migration gains over the past decade.
However, Queensland’s gain has gradually declined since the 10-year peak in 2002-03, when Queensland gained 38,000 people, to a 10-year low in 2009-10 with a net gain of 9,600 people.
Western Australia recorded an average net gain in the past 10 years due to the gains recorded from 2003-04 onwards.
Tasmania's numbers fluctuated throughout the past decade, with slightly more net gains than net losses.
New South Wales recorded the largest annual average net loss (23,700 people) followed by South Australia (3,000 people), the Northern Territory (640 people), the Australian Capital Territory (200 people) and Victoria (180 people).
Only New South Wales and South Australia recorded a net loss from interstate migration for each year from June 2000 to June 2010.
All states and territories experienced a significant change in interstate migration in 2008-09 than in 2009-10.
Of all states and territories, Queensland continued to record the largest net gain in interstate migration in 2009-10 (9,600 people). However, this net gain was distinctly smaller than net gains in previous years.
Queensland’s net gain in 2009-10 was nearly 50% lower than the 2008-09 net gain (18,400 people) and 75% lower than the 10-year peak gain of 38,000 people in 2002-03.
In 2009-10, net gains were also recorded by Victoria (2,600 people), Western Australia (2,000 people) and Tasmania (320 people). For Victoria, the net gain was up 700 people from the previous year while Western Australian's net gain was down 4,800 people from the previous year.
Tasmania continued its recent positive net interstate migration in 2009-10 (320 people), but it was considerably less than the peak net gain of 2,600 people in 2003-04.
New South Wales continued to record the largest net loss of all states and territories in 2009-10 (10,500 people). However, the loss of people from New South Wales was less than at any time during the 10 years to June 2010.
The NSW loss in 2009-10 was slightly more than half the loss from the previous year and roughly two-thirds down on the 10-year peak loss of 32,500 in 2002-03.
In 2009-10, a net loss was recorded by South Australia (3,000 people), continuing the series of losses over the 10-year period. The Australian Capital Territory also recorded a net interstate migration loss (70 people) although this was less than the 2008-09 loss of 820 people.
In 2009-10, the Northern Territory experienced the greatest impact from both interstate arrivals and interstate departures. These flows represented 6.9% and 7.2% of the Northern Territory's population respectively.
The Australian Capital Territory experienced the next greatest impact, with a 5% and 5.1% change in its population through interstate arrivals and departures respectively.
Victoria's population felt the lowest impact from interstate migration flows, with a 1.1% change through both its interstate arrivals and departures.
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jchancellor-FAypfDUnLy

Queensland still a drawcard, but fewer Aussies moving north

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Property investors and buyers should be bracing themselves for an August rate rise, according to Katie Dean, head of Australian economics at ANZ.
Dean made the prediction on the back of a “hawkish” speech by RBA governor Glenn Stevens on economic conditions and prospects on June 15.
Stevens said that if RBA current economic forecasts were correct, “further tightening of monetary policy is likely to be required at some point for inflation to remain consistent with the 2% to3% medium-term target”.
According to Dean, the next quarterly inflation figures will be key to the RBA decision. These figures are to be released at the end of July, just ahead of the August 2 RBA board meeting. Should inflation rise by 0.7% or more, and barring any increase in the unemployment rate between now and then, ANZ expects this will trigger a move on rates.
Dean says if the forecasts are right “and assuming there is no big divergence between the governor and the RBA board, then it not a matter of if the bank tightens, but when”.
“We continue to expect August as the next window.  We suspect a core inflation read of at least 0.7% quarter to quarter (which would be in line with the RBA’s latest forecasts) would, barring another notable downswing in the activity data, likely be enough to get the board over the line,” she says.
Similar to the minutes from the May board meeting, Dean says the June 15 speech effectively played down some of the current major arguments against a further monetary policy tightening.
The RBA will next decide on further interest rate rises on July 5.
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Rate rise likely: ANZ

<html><body>
More evidence is emerging that investors should steer clear of the Darwin market.
Darwin’s stock of properties on the market has risen by 3.6% in April, the biggest increase of all the capital cities, according to the latest research by property analysts SQM Research. About 1,128 houses in Darwin are up for sale in May, compared with 1,070 a month ago. The number of units has increased more moderately, from 664 to 659.
The stock of properties up for sale in Darwin has been building steadily over the past year. Since May 2010, stock levels have risen by 59.3%. This compares with the national trend of 0.3% decline in stock on market from April 2011 to May 2011 and a 29.7% increase since May 2010.
SQM managing director Louis Christopher, told Property Observer although Darwin is more affected by seasonal factors than other capital cities, the latest data indicates a “cyclical trend of rising and rising stock levels”.
“It is evidence of a slower housing market in Darwin and less buyer demand. Things are looking quite dicey in Darwin,” he says.
Data released by the Real Estate Institute of Australia shows the stock of available rental properties in Darwin has jumped by 2.3% during the March 2011 quarter, pushing the overall vacancy rate in Darwin to 4.6%.
Darwin is not alone when it comes to rising stock levels – no capital cities recorded declines year-on-year in stock on market.
Sydney has recorded the largest decline month-on-month, falling by 3.5% since April 2011, and also the least yearly growth, rising by 25.5% since May 2010.
 Brisbane (-1.3%) and Perth (-0.6%) are the only other capital cities to record decreases in stock levels over April 2011.
 
Melbourne stock increased by 0.2% for the month and by 49.2% for the year.
 
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="102">
City
</td>
<td valign="top" width="57">
May 2010 Houses
 
</td>
<td valign="top" width="59">
May 2010 Units
 
</td>
<td valign="top" width="69">
Apr 2011 Houses
 
</td>
<td valign="top" width="61">
Apr 2011 Units
</td>
<td valign="top" width="70">
May 2011 Houses
</td>
<td valign="top" width="62">
May 2011 Units
 
</td>
<td valign="top" width="67">
YOY% Change
 
</td>
<td valign="top" width="69">
MOM% Change
</td>
</tr>
<tr>
<td valign="top" width="102">
Melbourne
</td>
<td valign="top" width="57">
20,831
 
</td>
<td valign="top" width="59">
8,324
 
</td>
<td valign="top" width="69">
32,572
</td>
<td valign="top" width="61">
10,979
</td>
<td valign="top" width="70">
32,753
</td>
<td valign="top" width="62">
10,867
</td>
<td valign="top" width="67">
49.6%
</td>
<td valign="top" width="69">
0.2%
</td>
</tr>
<tr>
<td valign="top" width="102">
Canberra
</td>
<td valign="top" width="57">
959
 
</td>
<td valign="top" width="59">
323
 
</td>
<td valign="top" width="69">
1313
 
</td>
<td valign="top" width="61">
541
 
</td>
<td valign="top" width="70">
1306
 
</td>
<td valign="top" width="62">
548
 
</td>
<td valign="top" width="67">
44.6%
 
</td>
<td valign="top" width="69">
0.0%
 
</td>
</tr>
<tr>
<td valign="top" width="102">
Adelaide
</td>
<td valign="top" width="57">
10,124
 
</td>
<td valign="top" width="59">
1,710
 
</td>
<td valign="top" width="69">
14,244
</td>
<td valign="top" width="61">
2,355
</td>
<td valign="top" width="70">
14,385
 
</td>
<td valign="top" width="62">
2,469
 
</td>
<td valign="top" width="67">
42.4%
</td>
<td valign="top" width="69">
1.5%
</td>
</tr>
<tr>
<td valign="top" width="102">
Darwin
</td>
<td valign="top" width="57">
707
 
</td>
<td valign="top" width="59">
418
</td>
<td valign="top" width="69">
1070
 
</td>
<td valign="top" width="61">
659
 
</td>
<td valign="top" width="70">
1128
</td>
<td valign="top" width="62">
664
</td>
<td valign="top" width="67">
59.3%
 
</td>
<td valign="top" width="69">
3.6%
</td>
</tr>
<tr>
<td valign="top" width="102">
Brisbane
</td>
<td valign="top" width="57">
18,877
 
</td>
<td valign="top" width="59">
4,374
</td>
<td valign="top" width="69">
24,944
</td>
<td valign="top" width="61">
5,761
</td>
<td valign="top" width="70">
24,520
 
</td>
<td valign="top" width="62">
5,791
 
</td>
<td valign="top" width="67">
30.4%
</td>
<td valign="top" width="69">
-1.3%
</td>
</tr>
<tr>
<td valign="top" width="102">
Sydney
</td>
<td valign="top" width="57">
15,495
 
</td>
<td valign="top" width="59">
10,172
</td>
<td valign="top" width="69">
20,393
</td>
<td valign="top" width="61">
12,985
 
</td>
<td valign="top" width="70">
19,705
 
</td>
<td valign="top" width="62">
12,498
</td>
<td valign="top" width="67">
25.5%
</td>
<td valign="top" width="69">
-3.5%
</td>
</tr>
<tr>
<td valign="top" width="102">
Hobart
</td>
<td valign="top" width="57">
2364
 
</td>
<td valign="top" width="59">
340
 
</td>
<td valign="top" width="69">
3032
 
</td>
<td valign="top" width="61">
514
 
</td>
<td valign="top" width="70">
3140
 
</td>
<td valign="top" width="62">
530
 
</td>
<td valign="top" width="67">
35.7%
 
</td>
<td valign="top" width="69">
3.5%
 
</td>
</tr>
<tr>
<td valign="top" width="102">
Perth
 
</td>
<td valign="top" width="57">
12,783
</td>
<td valign="top" width="59">
3,081
</td>
<td valign="top" width="69">
17,586
</td>
<td valign="top" width="61">
4,292
</td>
<td valign="top" width="70">
17,586
</td>
<td valign="top" width="62">
4,226
</td>
<td valign="top" width="67">
37.1%
</td>
<td valign="top" width="69">
-0.6%
</td>
</tr>
<tr>
<td valign="top" width="102">
National
</td>
<td valign="top" width="57">
231575
 
</td>
<td valign="top" width="59">
53249
 
</td>
<td valign="top" width="69">
300456
 
</td>
<td valign="top" width="61">
70182
 
</td>
<td valign="top" width="70">
300044
</td>
<td valign="top" width="62">
69445
</td>
<td valign="top" width="67">
29.7%
</td>
<td valign="top" width="69">
-0.3%
</td>
</tr>
</tbody></table>
Source: SQM Research
 
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Darwin stock levels rise, evidence of 'dicey' market

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In a speech yesterday the governor of the RBA, Glenn Stevens, has touched on the apparent paradox of falling house prices in <city>Brisbane</city> and <place><city>Perth</city></place> juxtaposed against a once-in-a-century resources boom.
According to RP Data-Rismark’s house price index, which the RBA publishes in its quarterly Statement on Monetary Policy, dwelling values in <city>Perth</city> and <city><place>Brisbane</place></city> have fallen by 7.1% and 6.8% respectively over the last 12 months.
The chart below shows the performance of <city>Sydney</city>, <city>Melbourne</city>, <city>Brisbane</city> and <city><place>Perth</place></city> dwelling values since the end of the last east coast boom in 2003 (rebased to an index level of 100 as at December 2003).
<img src="/images/stories/joyejune151.jpg">
It demonstrates that Perth and Brisbane house prices have actually outperformed their Sydney and Melbourne counterparts for most of the past seven years. It was only in the middle of 2009 that Brisbane capital growth was overtaken by Melbourne’s surging market.

Stevens argues that the striking differences in house price movements across Australia reflect the underlying demand and supply dynamics, which is a point we have also emphasised for years.

Stevens says: “It is hard to avoid the conclusion that changes in relative housing costs between states, while certainly not the only factor at work, have played an important role. Relative costs are affected by interstate population flows, but those costs then in turn have a feedback effect on population flows. This is particularly so for Queensland.”

“Queensland has had faster population growth than the southern states, as it has seen a slightly higher natural increase, a rate of net international migration on par with other states and a very substantial net positive flow of interstate migrants. Net interstate migration to Queensland peaked around 2003 – not long after Sydney dwelling prices had reached a new high relative to other cities.

“Interstate migration at that time was contributing a full percentage point a year to Queensland's population growth. By 2008 this flow had slowed a bit, but international migration had picked up and Queensland's population growth increased, peaking at nearly 3%. Western Australia's population growth was even higher, peaking at almost 3½%” Stevens says.

In 2002, house prices in Brisbane were just over half the level of equivalent homes in Sydney and Melbourne. Many people presumably decided to move up north to capitalise on the cheaper accommodation and strong labour market.

A similar pattern asserted itself in Perth.

Since the GFC, however, population growth rates in Queensland and Western Australia have slowed while the cost of housing converged back towards Sydney and Melbourne levels.

Today the median dwelling price in Sydney is $515,000, followed by Melbourne ($485,000), Perth ($468,250) and Brisbane ($430,000).

As the next chart from the RBA shows, there has also been a spike in repossessions of homes in Western Australia and South-East Queensland following the GFC, which is presumably another part of the story explaining the resources states’ relative underperformance in house price terms.

<img src="/images/stories/joyejune16.jpg">
Another city that has clearly undergone a Perth-like structural change in housing costs is Darwin. I have added RP Data-Rismark’s Darwin dwelling value index to the first chart above, and the results are striking (see below). 

Housing costs in Darwin have grown by more than 160% over the last seven years, which is well in excess of any other major city. 

This too has been driven by a combination of soaring economic prospects, population growth, robust labour demand, and the fact that in December 2003 the median dwelling price in Darwin was just $190,000, or only 60% of the national capital city price. 

Yet by April 2011, the median price of a Darwin home had risen to $442,500 or 94.5% of the national capital city median. That is, there has been a rapid convergence in the relative cost of housing across the country.
<img src="/images/stories/joyejune162.jpg">
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;" href="https://www.rismark.com.au/" title="Rismark International" target="_blank">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;" target="_blank" title="Follow Christopher Joye" href="https://twitter.com/#!/cjoye">@cjoye</a> or read his blog.
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chrisjoye-JYhJsTrNRC

Falling population growth beats Queensland

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Welcome to the new world. Well, not so new – it arrives every winter in Melbourne, when the favourite weekend sport that is the public auction quietens down and a version of the Melbourne Club opens for the million-dollar-plus home buying business. For four months between a certain royal’s birthday and a hoped-for Collingwood victory on grand final day, auctions diminish as the favoured way to do business at the top end – and private sales, off-markets and expressions of interest take over.
For unwary buyers, private sales can present some problems. In fact, a number of potential buyers start out on the back foot with private sale negotiations simply because they think they are easier than auction bidding.
We are not sure why anyone would think private sales are necessarily easier to negotiate than auctions. Sure, some private sales are straightforward enough: it’s simply a matter of paying the asking price. But it’s worth realising that private sales have no rules like the ones they have to read out at the start of an auction. There is no start and stop time and no bells to say the property is “on the market”. For casual buyers there is no public confirmation of the right price level in the form of other bidders, as in an auction.
As well, over the last few years the curious practice of not stating a price has crept in on some private sales. So when you ask a salesman the price, the response can vary from: “Make us an offer” to “Buyer interest is at $3 million and the vendor wants around $3.35 million (we think)” to “Price range, sir, is between $1.8 million and $1.92 million”.
Even the inexperienced buyer should be able to see the dangers in being asked to “make us an offer” – especially if the buyer wants to buy the home. There are solutions for a buyer involved in this process, but hand on heart you as a buyer would be best served by getting professional representation in this instance.
In the case of the other two price types that are a version of the range, it’s just as confusing. Could you buy the property simply by paying the top end of the range? That depends on the process and on which agent you’re dealing with.
This leads us to the second traffic stopper in private sale negotiations: the process. Even if you offer top dollar, your offer may still be referred to others, and that involves a 24-hour feedback process during which time you may be asked if you have any more (even if there is no other offer). Or you could be asked to participate in a boardroom auction, which involves a new set of rules. Or you could simply be told nothing – which could mean it is sold to someone else, maybe because as a negotiation tactic your offer had a clause stating this was your final offer and they believed you and didn’t refer back to you.
Even if your offer of the top price in the range is accepted on the spot, you may wonder whether you did the right thing.
Each and every agency you deal with has a different private sale process, and in fact a number of agents within different agencies use different private sale practices.
Which brings us to the final issue of agents – whom do you actually speak to? In some companies you could be involved with a number of agents during the buying process – but only two of them can actually help you. In private sales in Melbourne’s top-end it is a club, it works well for buyers and sellers, and a lot of real estate is exchanged, however you need to know who’s who within the club if you want to get the result you want.
When you go to your next open for inspection, for instance, does that well-dressed agent you spoke to actually know what is going on? Is he the listing agent, who has the ear and trust of the vendor – or is he someone so far removed from the process that you probably know more about the home and what it takes to buy it?
So welcome Melbourne, welcome to the winter of wonderment and the intensely interesting private sale process.
Mal James is principal of <a title="James Buyer Advocates" target="_self" href="https://www.jamesbuyeradvocates.com.au" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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maljames-vHwm28JUAa

Welcome to the private sales club

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It has been kind of fun sitting on the sidelines, watching the various residential property data houses bicker over who is correct, who got the biggest headline or the most media coverage. Heck, some even now boast about how much press they are getting. I thought having celebrity cooks was scraping the bottom of the barrel, but now we have big-shot economists and property commentators to boot. Is there no end to this celebrity cult?
Now let’s clear the air before I go much further.  Residential asking prices are falling. We stated they would and that they could fall by as much as 5% to 8% this calendar year, maybe more in Queensland. They might fall even further, but that is dependent on what happens with interest rates, employment, supply and confidence.  How baby boomers and recent first-home buyers act (and react) in the near future in also important. Assuming, and maybe it is a big assumption, that the worst doesn’t eventuate, the housing cycle will right itself and, over time, the declines in asking prices will be regained.
Note the emphasis on asking prices. Extremely few sellers are making an actual loss on their resale.  hey are getting more than they paid for it – in terms of purchase price and all hard costs. What is attracting all the media hype is the difference between what a vendor wants for a property (nearly always inflated, if you ask me) and what the market is prepared to pay. This happens in a buyer’s market, when the amount of property listed for sale is greater than the demand. It happens in every industry. Heck, I have never paid full price – outside of basic staples – for anything.
Property is an interesting investment class. Yes, I subscribe to the notion that housing should be a home first and a means of accumulating wealth second, but under Australia’s current taxation laws, it makes financial sense to try to maximise the capital growth of your home. Most do these days by renovating a home, living in it for a period time, and moving on – all of which is tax-free. But home owners only really like doing this when it’s a seller’s market. Statistically, this makes little sense at all.
When prices are rising, sellers will happily sell their home for more than they expect, only to buy in the same market and pay more (than the vendor expects) for someone else’s house.  Now most will sell and move because they want something better (or different) than what they have already. The data show that in a seller’s market most sellers will pay more for their next home than they actually made from the one they just sold. But I suppose they did have a “win” after all – i.e. they got more for their house than they expected.
Now, reverse the situation – a seller in a buyer’s market is reluctant to discount their home to the extent needed to make a relatively quick sale. (Remember, my friends, a successful real-estate agent gets the vendor a quick sale, not necessarily the highest price.) Doing such is perceived as a “loss” to the seller, though in most cases it actually isn’t a real loss at all. Yet in a buyer’s market it is in their best interest to sell quickly. Why? Because they will be buying in the same market, and the statistics show that if they discount appropriately and sell quickly, they can often gain more than they lost when buying again.
Most trade property way too late in the cycle. Now, despite what we hear, is a great time to upgrade. You might be surprised at how much you can actually save by doing so now.
Now back to our property celebs. If you are going to run these silly lists outlining the most discounted properties on the market, do some real homework first. And in particular, stop using these examples as the means to judge the overall health of a city or region’s housing market. The happenings on South Stradbroke Island or the listed price drops of a grossly overpriced bit of dirt wedged between a quarry, the M1 and a major arterial road have little relevance to what is happening across Brisbane or the Gold Coast.
If I wanted to get some media coverage on a “fringe” property, I, too, would milk the system in a similar way. You should be quarantining these listings as “out-of-line”. A serious analyst would.
Mainstream asking prices, by the way, are not being discounted by 30% to 50%. What is taking place are the usual price negotiations that occur during every buyer’s market phase of the property cycle.
How about you guys start using some real practical examples – pick some mainstream properties, with vendors who are realistic yet not distressed (as only a small percentage really are), and share with us your findings. In Brisbane you will find discounting of up to 10%, with many sellers having made up slightly more than they lost on their next purchase and, in real terms, very few being left out-of-pocket.
But that won’t get you much media coverage will it? Nor a gig on Channel 7’s Sunrise or the ABC’s Lateline Business. Let alone over a week as the top-billing article on Fairfax’s Domain.com.au.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a target="_blank" title="Matusik's Missive" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

Wisdom in selling in a buyer's market

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The Real Estate Institute of Queensland has slammed a decision by the Queensland Government to remove stamp duty concessions for non-first home buyers.
From August 1, 2011 non-first home buyers will no longer receive stamp duty deductions when buying a new or established home as their principal place of residence, state treasurer Andrew Fraser announced in the June 14 state budget.
Home duty concession rates came into force on July 1, 2008, providing relief on a sliding scale.
Non-first home buyers purchasing properties costing between $350,001 and $540,000 are currently entitled to a concession of $3,500 plus $3.50 for every $100 or part of $100 over $350,000.
The removal of the concession means from August 1 non-first home buyers will have to pay an extra $8,000 on a median-priced house in Brisbane – currently $430,000 according to RP Data figures.
The extra costs are likely to hurt the wallets of majority of home buyers – last year about 60% of all dwellings financed in Queensland in April were to non-first home buyers.
First-home buyer stamp duty concessions will remain for homes up to $500,000.
REIQ chairwoman Pamela Bennett says the removal of the concession for non-first home buyers will “wreak havoc on the Queensland property market”.
“The market is already the lowest it has been in many years, and this announcement will just make it worse,” she says. “The Government is obviously trying to fill the financial void that has been left by the weak property market and the subsequent lower stamp duty receipts, given the marked reduction in property sales over the past 18 months.”
According to Bennett, a better way to stimulate the economy would have been to “provide financial incentives for all buyers of all types of properties, which in turn would have increased activity and therefore helped the Government’s bottom line”.
Removal of the concession is expected to save the Government an extra $161 million in the coming financial year and $247 million the following year.
Other housing measures announced in the budget include $10,000 building boost grant, which will be available for all people building or buying a new-build home or unit priced up to $600,000 between August 1, 2011 and January 31, 2012.
The REIQ says the grant’s value will be greatly diminished by the increased rates of stamp duty, and it is also unlikely to assist more first home buyers into the market. “There has been a huge reduction in first-home buyer activity over the past year, and this grant is unlikely to change that state of affairs to any significant degree,” Bennett says. The grant means first-timers will be able to access $17,000 as well as stamp duty concessions when purchasing a new-build home or unit.
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