The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

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>

&nbsp;

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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The rental yield a private investor will receive on The Palms restaurant at 213-215 Blackburn Road, in Mt Waverley, bought for $2.03 million at auction. The property was marketed by Hamish Burgess and Ben Baines form Colliers International. The 485-square-metre freehold property stands on land measuring 1,015 square metres and is currently tenanted to the restaurant for 10 years with the lease commencing on Feb 2012. Burgess says three strong bidders pushed the price well above the reserve. “The sale was a leaseback from the vendor, who will stay on to run the business, which has thrived in this strip since 1996,” he says.
 
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How much Savills Australia is expecting for a 548-square-metre office and warehouse property at Derrimut in Melbourne’s western industrial heartland. The property is located within the West Park Industrial Estate. The 152 Derrimut Drive property comprises a two-level, 88-square-metre office and a 466-square-metre warehouse facility with three-phase power and a fully secured yard.  According to market agents Chris Telley and Luke Jesson of Savills, the property would ideally suit a smaller owner-occupier looking for opportunities in the Derrimut precinct.
 
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The price being sought for the premises of Harris Farm Markets at 126-128 Pittwater Road in Gladesville, Sydney. <a href="https://sydney.burgessrawson.com.au/pol/property/search.asp?f_propertyID=1861029&amp;xsl=4211&amp;f_st=1&amp;f_ct=2&amp;f_ps=2&amp;f_propertyType=%27Retail%27" target="_blank">The property is being sold by Simon Staddon from Burgess Rawson</a> and is leased to independent fruit and vegetable retailer for 10 years to September 2021 with renewal options. The property has net income of $675,000 per annum plus GST. It is being sold by private treaty.
 
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How much a private investor has paid to acquire a 126-square-metre office suite in the Atlas building within Norwest Business Park in Baulkham Hills.  The building’s latest sale was negotiated by CBRE’s Jason Smith and Kieran Bourke on behalf of developer Capital Corporation. The Atlas building was completed in May 2011, and features two adjoining structures, a six-storey office tower and parking for 740 vehicles. Major occupants include Virgin Active, Bell Partners, Crowe Horwath and CABE Developments. Baulkham Hills is located approximately 31 kilometres north-west of the Sydney CBD.
 
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The price paid for a freestanding supermarket tenanted by Coles at 4 Oscar Street (Corner West Street) in Umina Beach. Coles has signed a new 20-year lease on the building with eight renewal options of five years each to 2072. Net income is $755,597 per annum plus GST. The price was paid at auction in Sydney, with the campaign led by Shaun Venables from Burgess Rawson. It previously sold for $3 million in November 2002.
 
 
 
 
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lschlesinger-FZcF9M3vE6

Commercial hammer prices

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The estimated net annual rent that national distributor of fibre optic and copper-based infrastructure hardware Optical Solutions Australia (OSA) will pay to lease new Queensland headquarters at Murarrie in Brisbane’s east. OSA has taken out a five-year lease with renewal options at 2/9 Archimedes Place, Murarrie, in a deal negotiated by Ray White Industrial Milton Principal Stephen Ferguson. Ferguson says OSA has leased a freestanding 1,277-square-metre building, which included 889 square metres of high-bay warehousing with container-height roller door access.
 
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The estimated gross rental rate that the Sunshine Coast Vein Clinic will pay to lease an office suite as its new surgery in the seaside village of Peregian Beach. Sunshine Coast Vein Clinic has secured a two-year lease with renewal options at Suite 5, 8 Kingfisher Drive, Peregian Beach in a deal negotiated by David Brinkley of Ray White Commercial Noosa. The 72-square-metre office is owned by a local investor.
 
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The net rent per square metre that law firm Turks Legal will pay to lease a 121-square-metre office in the Citigroup Centre at 2 Park Street Sydney. The lessor is Trust Company Limited (The GPT Group and Charter Hall). The office is in the premium grade landmark office tower in the mid-town precinct and lease term is seven years commencing August 1, 2012. The deal was negotiated by Rowan Humphreys of Tenant Representation Services acting for Turks Legal and Cameron Williams of Colliers International acting for the building’s owners: the GPT Group and Charter Hall. 
 
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The estimated annual rent per square metre that eStore Logistics, a company involved in the e-retail sector, will pay to lease an office-warehouse of 10,960 square metres in Melbourne’s south east. Colliers International agents Nathan Bingham and Stephen Newsham secured the new lease at 185-189 Boundary Road in Laverton North. The property was vacated by Airroad Logistics in early January following a move to larger premises of 24,000 square metres.
 
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The estimated rent that international industrial machinery manufacturer Atlas Copco Australia Pty Ltd will pay to lease a warehouse complex in Townsville’s major commercial precinct. Atlas Copco has taken out a 10-year lease with five renewal options of five years each.  The company is leased a 4,433-square-metre block comprising a modern tilt-up concrete office and warehouse at 108-110 Enterprise Street. The complex was recently purchased by a local investment syndicate at 108-110 Enterprise Street, Bohle, in a deal negotiated by Graeme Russell of Ray White Commercial Townsville. The warehouse has a gross floor area of 1,981 square metres.
 
 
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Commercial leasing: Watch this space

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The price Queensland Renewable Energy paid for two units at Coolum Beach on the Sunshine Coast. Its has purchased units at 25 Quanda Road, Coolum Beach, in a deal negotiated by Tracey Ryan from Ray White Commercial Noosa. The units are each 88 square metres and suitable as the business requires extensive pallet racking. One was offered for sale by a private vendor and the other by an interstate developer.
 
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The yield for the Beca House office building at 21 Pitt Street in Auckland, NZ, which was recently bought by a private New Zealand investor for NZ$55 million. The deal was negotiated by Warren Hutt of CBRE and is the city's largest commercial transaction in two years. The building's major tenant (with naming rights) is Beca Corporate Holdings, which occupies more than 14,400 square metres of space on a nine-year lease that commenced in 2010. The building is 10 storeys and has a net lettable area of 16,800 square metres.
 
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The price Queensland Investment Corporation paid for Noosa Civic shopping centre on the Sunshine Coast. The shopping centre, on 31.7-hectare activity site, is "one of the key sub-regional shopping centres on the Sunshine Coast," QIC global managing director Robert Carter told the Australian Financial Review. QIC bought the centre from Commonwealth Games chairman Mark Stockwell.
 
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The price a private investor paid for 4,631-square-metre ground-floor retail property at 126-128 Pittwater Road, Gladesville, in inner north-west Sydney. Harris Farm Markets has a 10-year lease for 1,505 square metres and is paying rent of $675,000 net per year. The remainder of the building comprises parking. The sale price represents a gross rental yield of 8.65%.  The deal was negotiated by Simon Staddon from Burgess Rawson and Steffan Ippolito from Oxford Commercial. 
 
 
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cknowlton-QnEa6ntUYP

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Seven out of this week’s top 10 sales of the week were in New South Wales, with Victoria rounding out the other three.
1. <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/surry-hills-millionaires-show-a-flair-for-pricey-warehouse-conversions/2012022653560">5 BENNETT PLACE, SURRY HILLS, NSW</a>, four-bedroom house, sold at auction on Saturday, February 25 by McGrath Estate Agents for $5.71 million
2. 35 WYBALENA RD HUNTERS HILL, NSW, five-bedroom house, sold at auction on February 25 by McGrath Estate Agents for $2.72 million
3. 21 SILVERDALE ROAD, EAGLEMONT, VIC five-bedroom house, sold at auction on February 25 by Miles Real Estate for $2.34 million
4. 25 MOORAMIE AVENUE, KENSINGTON, NSW, four-bedroom house, sold at auction on February 21 by Bradfield Cleary Real Estate for $2,275,000
5. 14 EVANS COURT, TOORAK, VIC, three-bedroom house, sold at auction on February 25 by RT Edgar Toorak for $2.24 million
6. 27 DUXFORD ST PADDINGTON, NSW, three-bedroom house, sold before auction on February 25 by McGrath Estate Agents for $2.05 million
7. 11 STANTON ROAD, HABERFIELD, NSW, four-bedroom house, sold before auction by McGrath Estate Agents for $2.05 million
8. 76 TAMBOURINE BAY ROAD, RIVERVIEW, NSW, four-bedroom house, sold before auction on February 25 by McGrath Estate Agents for $2.03 million
9. 13 ALFRED STREET, BRONTE, NSW, four-bedroom house, sold before auction on February 25 by GoodyerDonnelley Real Estate for $1,955,000
10. 4 GREEN STREET, CAMBERWELL, VIC, four-bedroom house, sold at auction on February 25 by Jellis Craig Hawthorn for $1,951,000
 
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Top 10 sales of the week: RP Data

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New South Wales and Victoria were tied on RP Data's top 10 sales of the week this week, with four apiece. The other two slots were filled by a four-bedroom South Australian house at number three, and a six-bedroom Queensland house that rounds off the list at number 10.
1. <a target="_blank" href="https://www.realestate.com.au/property-house-vic-albert+park-109081541">148 BEACONSFIELD PDE ALBERT PARK, VIC</a>, five-bedroom house, sold at auction on February 18 by Hocking Stuart Albert Park for $3.01 million
2. 2 OSWALD ST MOSMAN, NSW, four-bedroom house ,sold at auction on February 18 by McGrath for $2,911,000
3. 21 PEMBROKE STREET, KENSINGTON PARK, SA, four-bedroom house, sold at auction on February 17 by Toop &amp; Toop for  $2.74 million
4. 56 CENTRAL PARK RD MALVERN EAST ,VIC, four-bedroom house, sold at auction on February 18 by Bennison Mackinnon Armadale for  $2.68 million
5. 21 ILUKA ROAD, PALM BEACH, NSW, four-bedroom house sold on February 14 by McGrath for $2,359,000
6. 1 FARLEIGH GROVE, BRIGHTON, VIC, three-bedroom house, sold at auction on February 18 by RT Edgar Brighton for $2,222,000
7. 4 INGLETHORPE AVENUE, KENSINGTON, NSW, five-bedroom house, sold on February 14 by GoodyerDonnelley Real Estate for $2.1 million
8. 83 LOCKSLEY ROAD, IVANHOE, VIC, five-bedroom house, sold at auction on February 18 by Jellis Craig Ivanhoe for $2,025,000
9. 6 EURABALONG ROAD, BURRANEER, NSW, five-bedroom house, sold at auction on February 18 by Highland Property Agents for $2,015,000
10. 15 CAPSTAN PLACE, MACGREGOR, QLD, six-bedroom house, sold at auction on February 18 by LJ Hooker Sunnybank Hills for $1.95 million
 
 
 
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Roughly how much Chinese bathroom supplies importer and distributor Sunny Group Pty Ltd will pay per square metre to lease a new office and warehouse in Noble Park in Melbourne’s south-eastern suburbs. The company has agreed terms on a new five-year office at 7/450 Princes Highway, which comprises a brand-new 2,750-square-metre office and high-bay warehouse building. The deal was negotiated by Savills Australia industrial executive Daniel Kelly along with colleague Lynton Williams. Kelly says the tenant was also interested in the buildings’ capacity to achieve the good fortune attributed to feng shui design criteria. The lessor is a Melbourne-based private investor. 
 
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The estimated net rent per square metre per annum that law firm Middletons will pay to lease 5,400 square metres of space over five floors in 1 O’Connell Street in the Sydney CBD in a seven-year lease deal. The law firm will also receive a rental incentive as part of the lease agreement, which begins in September. The five floors are currently being refurbished after the exit of long-time anchor Clayton Utz. The building is owned by Lend Lease’s Australian Prime Property Fund and the Abu Dhabi Investment Authority. Accounting and consulting firm Crowe Horwath has taken 3,570 square metres, Thomsons Lawyers has leased 2,400?square metres and law firm Clifford Chance has leased 1,190 square metres. About 20,000 square metres remains available to lease in the building.
 
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The net annual rental rate per square metre that Childcare software solutions provider QikKids will pay to lease a 650 square metres of office space at 20 Metroplex Avenue in Murarrie in the eastern suburbs of Brisbane. The deal was negotiated by Jones Lang LaSalle’s Chris Davis and Sam Barr, who are seeking tenants for the 1,056-square-metre single-level office. Davis says the proximity to QikKids’ current office (next door to the office) and single-level floor plate were the key factors, “particularly given their previous tenancy spanned three levels and didn’t provide functional space”.

 
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The annual rent that Trican Well Service Ltd, an international pressure pumping company headquartered in Calgary, Canada, will pay to lease 343 square metres of office space at 196 Wharf Street in Spring Hill next to the Brisbane CBD. The lease was negotiated by Jones Lang LaSalle’s Sam Barr and new fringe leasing director Don Mackenzie on behalf of Calidad Property Group, which has owned the building since mid-2011. The building has been extensively refurbished and now has only one floor remaining.
 
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The annual rent that tenants are paying on a 7-Eleven in Woodridge, a suburb of Logan City in south-east Queensland. The 7-Eleven, located at 1 Kingston Road and measuring 5,072 square metres, is part of a <a target="_blank" href="https://www.propertyobserver.com.au/retail/six-queensland-7-elevens-to-tempt-commercial-property-investors-at-march-auction/2012030453591">batch of six Queensland 7-Eleven service stations that are being  marketed by Sam Hatcher and Ben McGrath from Jones Lang LaSalle for auction on March 22.</a> All properties come with new 15-year leases with three options of five year renewals and guaranteed 4% annual rent increases.
 
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The annual rent that Kinetic Group will pay to lease 588 square metres of office space on a five-year lease at 196 Wharf Street in Spring Hill next to the Brisbane CBD. The lease was negotiated by Jones Lang LaSalle’s Sam Barr and new fringe leasing director Don Mackenzie on behalf of the Calidad Property Group, which has owned the building since mid-2011. The building has been extensively refurbished and now has only one floor remaining. Barr says Spring Hill is currently experiencing positive net absorption of office space.  “With tightening vacancy in the Brisbane CBD, immediate surrounding suburbs like Spring Hill are proving attractive alternatives for companies,” he says.
 
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As expected, the Reserve Bank has left interest rates unchanged at 4.25% for the second successive monetary policy meeting.
There were no surprises this time around, <a target="_blank" href="https://www.propertyobserver.com.au/economy/economists-unanimously-tip-rates-to-remain-on-hold-until-may-bloomberg/2012022653559?utm_source=Property+Observer+List&amp;utm_campaign=15a57d9559-March_6_RBA&amp;utm_medium=email">with all 23 economists polled by Bloomberg last week</a> forecasting the RBA to leave the cash rate on hold.
In his statement following the announcement, RBA governor Glenn Stevens said “housing prices have shown some sign of stabilising recently, after having declined for most of 2011, but generally the housing market remains soft”.
The Australian dollar fell slightly to $1.061 against the US dollar following the announcement. It was trading at $1.064 just before the announcement, having opened at $1.067. You can track the dollar <a target="_blank" href="https://www.fxstreet.com/rates-charts/currency-rates/">here</a>.
Laing+Simmons general manager Leanne Pilkington says debt refinancing efforts in Europe provided the “necessary reprieve for the RBA to stay on the sidelines, because from a domestic perspective, the two-speed economy is still seeing the states less impacted by mining experience softer conditions”.
“It appears the RBA has taken the view that the international economic landscape will provide a sufficient platform for our mixed-bag national economy to weather an unchanged interest environment.
“However, from a housing market perspective, now that the major banks have clearly demonstrated their unwillingness to be guided by the Reserve Bank, mortgage holders can no longer breathe a sigh of relief.
“Certainly after the interest rate increases the banks slugged their customers with last month, despite the RBA not moving on rates, there is no justification for them doing so again. But we’ll have to wait and see if they are again willing to face the public backlash,” she says.
Commonwealth Bank economist Peter Dragicevich said ahead of the announcement that while the bank continued to have a further rate cut “pencilled in for May, with the overall domestic economic picture remaining positive, the global macro backdrop stabilising and the risks of a full-blown banking crisis in Europe abating, there is a risk that we may be at the end of the RBA’s easing cycle”.
ANZ borrowers will have to wait until Friday (March 9) when the bank makes its independent interest rate decision to find out whether there will be another interest rate adjustment out of cycle with the RBA.
Other lenders may also wait to see what ANZ does before making any decisions.
Since the February out-of-cycle rate rises the major banks have repeatedly said that there is now a disconnect between the RBA’s cash rate and mortgage lending rates due to higher funding costs.
The RBA decision to leave rates on hold follows the two rate cuts in November and December, which helped lift business and consumer confidence. The Westpac-Melbourne Institute Consumer House Price Expectations Index rose to its highest level since April last year, the first gain since January 2010.
According to Westpac, more than 53% of Australian economic data has improved in the past eight weeks, up from 40% in December.
However, housing credit growth has remained subdued (up just 0.5% in January), new home sales fell by 7.3% in January to the lowest reading in 11 years and retail sales rose by just 0.3% in January after sliding by 0.1% in December.
The release of GDP figures for the December quarter on Wednesday as well as February unemployment figures (both sets of data from the ABS) will be factors in the next rate decision on April 3.
 
 
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RBA leaves rates unchanged

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How much a vacant development site in the north Canberra industrial precinct of Mitchell has been sold for at auction. The 2,997-square-metre property at 173 Flemington Road, Mitchell, was sold by Ray White Commercial Canberra’s Andrew Smith and John Price on behalf of Albina Nominees Pty Ltd.  “We had solid interest in the site, which is approved for uses including bulky goods, offices and light industry,” says Smith.
 
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The asking price on a 5,000-square-metre office and warehouse facility, to be constructed at the Salta Properties developed Proximity Industrial Estate at Sunshine in Melbourne’s western industrial zone. The development is being marketed by Savills industrial director David Norman, who says the 33 Endeavour Way property is for sale, fully constructed. He says the vendor, Melbourne-based developer Nikstan Constructions, might also consider a pre-lease arrangement at about $80 a square metre. Norman says the building will feature a clear-span, high-clearance warehouse of circa 4,780 square metres with multiple roller doors, loading docks and canopies, a generous office component and 60 car parking spaces. He says construction is due to begin shortly, with a completion date of late 2012 or early 2013.
 
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The price unlisted property fund ISPT paid for a 50% share of the Brisbane Myer Centre. The fund bought the half share from the CFS Retail Property Trust to further expand its already strong position along the Queen Street Mall in the Brisbane CBD. The sale was brokered by <a href="https://www.propertyobserver.com.au/commercial/commercial-sales-limp-to-%241.4-billion-aggregate-in-march-2012-quarter-cbre/2012032854044" target="_blank">Simon Rooney, Australian head of retail investments for Jones Lang LaSalle</a>.
 
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The price paid for an 18,000-square-metre high-density residential development site in the Molonglo Valley in Canberra that can accommodate up to 180 apartments and townhouses. The sale of land at section 47, John Gorton Drive was negotiated by Shane Radnell and Tim Mutton. The site was bought by Empire Building Group, with the vendor being the Land Development Agency.
 
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How much a commercial free-range broiler farm about 58 kilometres north of Adelaide near Mallala has sold for in a deal negotiated by Jesse Manuel from Colliers International Rural &amp; Agribusiness. “The free-range broiler farm known as ‘Banero’ was being marketed online only when an approach was made by a motivated private buyer,” says Manuel.  Banero Broiler Farm currently operates as a free-range farm and comprises a total land area of approximately 50.49 hectares.  The broiler operation consists of six climate-controlled tunnel sheds and is contracted to Baiada Poultry, Australia’s largest chicken meat processor.
 
 
 
 
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The time the Burnett family has held their Buderim property before deciding to sell. In the Sunshine Coast, 157 Burnett Street is a 13,100-square-metre block of land with views over the Sunshine Coast from Bribie Island to Maroochydore. The original 1895-built homestead still sits on the property. Barry Ashby of Savills Sunshine Coast has been tasked with selling the development site, which is zoned as mixed housing.
 
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The price one doctor paid for a medical centre in Ashwood. The two-storey, 288-square-metre building sits on 211 square metres of land. “We had solid interest in the auction of the property with more than 30 inspections and three bidding parties on the day,” says agent Ryan Amler from  Ray White Commercial Oakleigh. A local general practitioner bought the recently renovated building with the intention of being an owner-occupier.
 
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The price paid for a block of 18 fully leased residential units, including two medical suites, in Sydney’s Balmain. The property, which earns a yield of 4%, was sold by CBRE’s Frank Oliveri and Peter Vines after more than 100 buyer inquiries.
 
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The net passing rent of a 3,517-square-metre warehouse in Wetherill Street in Sydney’s Silverwater. A buyer paid $3.8 million for the property, which is currently leased to tool manufacturing and plastic moulding company LJ Wallace Group until December 2014. CBRE’s Cameron Grier and Michael O'Neill sold the property at its May 9 auction with three interested bidders.
 
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The current rent of a consulting room in Adelaide’s Norwood. The 174-square-metre building comes with six main rooms and staff amenities and sits on a 556-square-metre block of land, with parking for seven cars. The property is currently leased to physiologists in a three-year lease with two extension options. They use the building as consulting rooms. CBRE’s Will Brown and Ben Younger will bring the property to auction later this month.
 
 
 
 
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awalsh-7Ub9EypybQ

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The gross rent per annum that software development company Blue Chilli will pay to lease a 396-square-metre office at level 2, 50 York Street, Sydney. The office block is described as a character-filled warehouse style commercial strata building. The two-and-a-half year lease was negotiated by Anthony Harris of Ray White commercial office leasing on behalf of the lessor, Avard Pty Ltd.
 
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The estimated net annual rent that Everlasting Watertanks Pty Ltd will pay on a new three-year office and warehouse lease at Mulgrave in Melbourne’s south-eastern suburbs in a deal negotiated by Savills Australia. The 15 Glenvale Crescent property comprises a modern 785-square-metre premises, which according to leasing agents Savills Australia’s Daniel Kelly and Lynton Williams will cater to the company’s consolidation and offer significant cost efficiencies. The lessor is a Melbourne-based private investor.
 
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The net face rent per square metre that fashion store Supre to lease a 600-square-metre industrial property at 9-11 Springvale Road, Springvale. The two-year lease was negotiated by Sasan Misaghian and Jamie Stuart from Colliers International. The lease has three options of five-year renewals. The lessor was John Cappellin and the previous tenant was liquor group BWS. According to Misaghian, Supre has taken up a prominent site next to the corner of Princes Highway and Springvale Road (Spaghetti Junction).Stuart said the site was leased in less than a month, with the premium rental achieved with minimal incentive.
 
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The estimated net rent per annum net that industrial business consultant the Phalanx Group will pay on anew five-year office lease at Mt Waverley in Melbourne’s south-eastern suburbs.  The 8/14 Lionel Road property comprises a modern 550-square-metre premises, which leasing agents Savills Australia’s Daniel Kelly and Lynton Williams say will cater to the company’s expansion and offer significant cost efficiencies. The lessor is a private investor based in Melbourne.
 
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The gross rent per annum that pharmacy chain Priceline will pay to lease a shop at 128 Exhibition Street in the Melbourne CBD. The 10-year lease was negotiated by Ben Tremellen from Colliers International for around 433 square metres of ground-floor space. According to Tremellen the lease set a new rental record for the strip. “The retail scenery on Exhibition Street is, without a doubt, changing. This move by Priceline – as well as a restructure of the tenancy mix at Southern Cross, which includes Australia Post currently fitting out their new flagship premises and another new national retailer joining the building within a similar timeframe – has activated this retail strip.”
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