Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

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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A total of 313,700 sqm of Premium and A-Grade projects in the past six months has given Melbourne’s CBD a new milestone of the largest CBD office market in Australia, according to JLL Research.
In Q2 2020, JLL Research found that the Melbourne CBD’s total office stock was 4,953,033 sqm. Now, with the practical completions of three new major developments this month, the Melbourne CBD reaches a new stock total of 5,107,840 sqm. Sydney’s total office stock for Q2 2020 was 5,024,240 sqm.
The three office completions crowning Melbourne as the largest office CBD in Australia include the following developments:
1. Cbus Property and Keppel REIT’s Victoria Police Centre at 311 Spencer Street, including 65,000 sqm of office space.
2. The Lendlease Two Melbourne Quarter at 697 Collins Street, including 46,350 sqm of office space.
3. Dexus 80 Collins Street, including 42,960 sqm of office space.
JLL’s Managing Director (Victoria) - Craig Shute said, “The completion of these three projects marks a real inflection point in the dynamics of Australian CBD’s.'
Melbourne is now the largest Australian city in terms of commercial office space and this status is unlikely to change. This rapid rise is testament to Melbourne’s balanced economic drivers and will result in an increase of national and global investment capital seeking a foothold or looking to expand their portfolios in the city."
"We are confident Melbourne will rebound relatively strongly as we recover from the current COVID-19 restrictions and re-open for business,” He added.
Other projects completed in the Melbourne CBD earlier this year include Mirvac and Suntec REIT’s Olderfleet building at 477 Collins Street (56,584 sqm), Charter Hall’s Wesley Place at 130 Lonsdale Street (55,000 sqm) and Cbus Property and ISPT’s Collins Arch at 447 Collins Street (47,517sqm).
Whilst a large amount of supply is being delivered to the market, there is very little vacancy, with 94% of the 313,700 sqm office stock being delivered in 2020 already pre-committed, according to JLL Research.
JLL’s Senior Research Director (Victoria) - Annabel McFarlane said, “JLL has been tracking office stock in Melbourne’s CBD office market since 1970, when the size of the market was just 1.45 million sqm."
"The most significant contribution to this growth has been Docklands as a new CBD precinct, delivering just over 1 million sqm of new, high quality office stock and pushing Melbourne to now Australia’s largest CBD office market, just larger than Sydney’s CBD office market,” she said.
Ms McFarlane continued, “Significant momentum and strong demand throughout the last 20 years has supported office market development. Melbourne’s CBD office market has accounted for 40% of all CBD net absorption (1.7 million sqm) in the six CBD markets we track. This compares to Sydney (739,900 sqm), Canberra (647,600 sqm), Brisbane (542,850 sqm), Perth (293,700 sqm) and Adelaide (291,300 sqm).”
Melbourne and Sydney’s CBD office markets are comparable in size to several major international CBD office markets including Madrid which stands at 6.5 million sqm, Barcelona at 4.9 million sqm and Berlin at 4.5 million sqm.
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j.ballantyne1990-6AQqhLzZaK

Melbourne takes crown as the largest CBD office market in Australia: JLL

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EXPERT OBSERVER
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<div>There was a resurgence in homebuyer finance in June, but not in Victoria, where finance commitments dropped sharply. </div>
<div> </div>
<div>Unfortunately for Melbourne, this trend will only continue through July and August...and into September.</div>
<div> </div>
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<div>First homebuyer commitments zipped higher, but there was another sharp 9 per cent drop in Victoria, following on from a similar decline in the month of May.</div>
<div> </div>
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<div>Overall, stripping out refinancing housing finance jumped +6.2 per cent, despite Victoria's woes. </div>
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<div> </div>
<div>The average mortgage size has been a bit all over the place of late, possibly due to there being more first homebuyers in the market. </div>
<div> </div>
<div>AFG's quarterly numbers showed a record high mortgage size in Q2, albeit only just.</div>
<div> </div>
<div>Basically flat would be another way to describe the figures (and the same for the ABS data).  </div>
 <div class="separator"><img src="https://1.bp.blogspot.com/-SLMdAg1gUlc/XyoSeorD_JI/AAAAAAAA3eE/CmCCLxqbo2k84D06MWp6qUdpVhUXOASIACNcBGAsYHQ/s640/afg2.jpg" width="640" data-original-height="801" data-original-width="1372"></div>
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<div>There was enormous strength in the average mortgage size in New South Wales, which hit a record high, but not so in Victoria. </div>
 <div class="separator"><img src="https://1.bp.blogspot.com/-Hc8xWagT5ig/XyoSeWzCIpI/AAAAAAAA3eA/nFg25VvGcW0_53ZOQT7J_FRHrrFBYfLeQCNcBGAsYHQ/s640/afg.jpg" width="640" data-original-height="800" data-original-width="1364"></div>
<div class="separator"> </div>
<div>Overall, a decent rebound ex-Melbourne.</div>
<div> </div>
<div>Note that this bounce was also before the HomeBuilder boom kicks in.</div>
<div> </div>
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<div> </div>
<div>New South Wales will also see a surge in activity up to $1 million resulting from the stamp duty discounts announced on July 27. </div>
<div> </div>
<div>Victoria recorded some 725 cases of COVID-19 over the past 24 hours, ensuring that the Stage 4 lockdown will almost certainly run for weeks to come. </div>
</div>
</div>
PETE WARGENT is the co-founder of AllenWargent property buyers and a best-selling author and blogger 
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pwargent-M4siyDbqQY

Homebuyers returning, but not in Victoria: Pete Wargent

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Residential prices continue to be holding through June 2020 in the Illawarra, according to the July Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
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The report suggests there remains a relatively low amount of stock on the market which is driving a bit more competition amongst buyers.
 Realistically priced and conventional properties are selling within two months in most cases.
</div>
<div class="column">
"Ten years ago, $700,000 would have given you the pick of many properties throughout the Illawarra with only the more desirable areas out of reach, however strong price increases over the past decade have restricted a purchaser with $700,000 to spend," the valuation firm said. 
This is the approximate median house price in suburbs such as Figtree and Flinders, although townhouses or units can still be picked up for under $700,000 in suburbs such as Thirroul and Bulli and older houses can be purchased in Corrimal and Russell Vale.
There have been plenty of new units built in Wollongong over the past couple of years and $700,000 will pick up a decent quality two-bedroom unit with a bit of a view.
A two bedroom apartment in Wollongong CBD has recently been sold for $488,500. 
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-wollongong-134021110" target="_blank">3/6 Market Place</a> home (pictured below) comes with sleek kitchen, two oversized bedrooms, and renovated bathroom. 
It is situated within close proximity to eateries and beach. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/wollongong%20cbd%20.jpg" alt="">
In high growth areas such as West Dapto (Horsley, Wongawilli and Kembla Grange) and Calderwood, a new four-bedroom house on a 450 square metre lot can be purchased for under $700,000, the report noted. 
A current listing is a four bedroom house in Horsley priced at $649,000.
The recently updated home at <a href="https://www.realestate.com.au/property-house-nsw-horsley-133293570" target="_blank">11 Lucas Drive </a>(pictured below) comprises four bedrooms,  living and dining spaces, two bathrooms, and gardens. 
It is situated close to schools, eateries, transport and Wollongong CBD.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/3/horsley.jpg" alt="">
"We see mainly younger families or couples purchasing at this price point with second house buyers or downgraders often above this market. 
"Pandemic conditions have not brought any significant price decreases in our market, however there is still a decent level of uncertainty in the short to medium term as government stimulus packages and local and macro economies grapple with a recession." the valuation firm said. 
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What a lazy $700,000 can buy in Illawarra: HTW residential  

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GUEST OBSERVER
We’ve heard a lot about what the present crisis will do to <a href="https://propertyupdate.com.au/coronavirus-how-will-it-impact-australias-property-markets/">home</a> <a href="https://www.theguardian.com/australia-news/2020/mar/16/how-will-coronavirus-affect-australias-real-estate-market-and-house-prices">prices</a>, less about what it will do to <a href="https://www.commercialrealestate.com.au/news/office-property-now-in-covid-19-firing-line-969479/">commercial property</a> prices.
Commercial properties include office buildings, shopping centres, hotels and warehouses.
They account for <a href="https://www.superannuation.asn.au/ArticleDocuments/269/SuperStats-Jun2020.pdf.aspx?Embed=Y">8%</a> of the assets of Australian super funds.
<a href="https://images.theconversation.com/files/351238/original/file-20200805-237-3qmk3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351238/original/file-20200805-237-3qmk3f.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Melbourne’s Wesley Place commercial precinct is owned by a property trust.
If their values drop (and they are falling) it will affect all of us, especially those about to retire or already retired.
Until COVID-19, commercial properties were widely regarded as safe investments. They offered both reliable income streams and capital gains as population growth increased the value of scarce real estate.
With the return on government bonds falling <a href="https://theconversation.com/the-government-has-just-sold-15-billion-of-31-year-bonds-but-what-actually-is-a-bond-143598">below 1%</a> they ought to be becoming more attractive, but offices are empty, their future uncertain, high end shopping centres are receiving less traffic, and hotels have entire floors unused.
<a href="https://images.theconversation.com/files/351240/original/file-20200805-24-17539g9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351240/original/file-20200805-24-17539g9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
In July the number of mobile phones active in Sydney’s central business district was down <a href="https://www.roymorgan.com/findings/8486-roy-morgan-ubermedia-covid-19-movement-sydney-june-27-2020-202008040143">52%</a> on January and February. In Melbourne’s CBD, before the stage 4 lockdown, mobile phone traffic was down <a href="https://www.roymorgan.com/findings/8476-roy-morgan-ubermedia-covid-19-movement-melbourne-july-28-2020-202007270623">65%</a>.
<a href="https://www.smh.com.au/business/companies/data-centres-in-hot-demand-with-remote-working-on-the-rise-20200804-p55ih6">Data centres</a> are among the few commercial property bright spots – we are moving more data – along with distribution centres and <a href="https://www.smh.com.au/business/companies/neighbourhood-malls-flourish-as-shoppers-stay-local-20200723-p55eto">regional shopping centres</a> – we are shopping online and closer to home.
Over the course of the year the values of commercial property trusts listed on the Australian Securities Exchange have slid <a href="https://www.asx.com.au/asx/share-price-research/company/DXS">29%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/GPT">32%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/MGR">34%</a>,<a href="https://www.asx.com.au/asx/share-price-research/company/SCG">48%</a>, <a href="https://www.asx.com.au/asx/share-price-research/company/VCX#company-top">52%</a>, and <a href="https://www.asx.com.au/asx/share-price-research/company/URW">69%</a>.
<a href="https://images.theconversation.com/files/351242/original/file-20200805-24-p5j3b2.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/351242/original/file-20200805-24-p5j3b2.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Share price of GPT Group. GPT owns and manages retail, office and logistics properties. 
For super funds with 8% of their assets in commercial property, a decline of 25% in values knocks 2% off their assets — A$54 billion across the industry as a whole.
In the only other big downturn since the advent of Australia’s superannuation system, the global financial crisis, commercial property offered the funds stability while shares were volatile.
Not so this time. The value of the commercial property is diving along with the stock market with just as uncertain a future.<img src="https://counter.theconversation.com/content/143824/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/theodore-connell-variy-1142418">Theodore Connell-Variy</a>, Lecturer, School of Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a> and <a href="https://theconversation.com/profiles/tony-mcgough-1142730">Tony McGough</a>, Senior Lecturer, Property, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/warning-what-covid-is-doing-to-commercial-property-it-is-about-to-do-to-super-funds-143824">original article</a>.
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What COVID is doing to commercial property it is about to do to super funds

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EXPERT OBSERVER
The stubborn resistance of house prices to the negative forces on the pandemic, and the economic downturn it has created, is shown by the month by month data from CoreLogic – with the latest figures published today (3 August).
An analysis of the monthly figures for the past five months covering the pandemic period shows that - generally speaking - there has been a gradual deterioration in price outcomes. Looking at the average national result, house prices were up 0.7% in March, up by a smaller amount in April, down marginally in May, down by a larger amount in June and then a similar, though slightly better, result in July.
But looking at the figures at a more local level shows that some locations have been more resilient than others. The latest figures show that half the market jurisdictions managed to produce some level of growth in their house prices during July.
The “jurisdictions” are the eight capital cities and the seven state or territory regional markets. Of those 15 jurisdictions, seven produced some level of growth in house prices in July. Remarkable in the circumstances.
Those figures illustrate a point I have making regularly in recent months: that regional markets are generally doing better than capital city markets. 
In July, five of the seven regional jurisdictions produced house price growth, compared to two of the eight capital city markets.
The figures from the past five months deliver other important messages. One is that month-to-month figures can be highly erratic and we need to be careful about placing too much significance on one month’s results.
In Darwin, for example, house prices rose in April, fell in May, rose in June and fell in July (according to the CoreLogic data - other sources have different figures).
In Hobart, house prices rose in March, fell in April, rose in May and June, then fell in July. Again, if you believe the CoreLogic figures.
Another message in the data is that we don’t have a single market in Australia. We have many different markets with different outcomes from one market to the next. 
That’s an important point because media will report that Australian property prices fell in July, when in reality there were price rises in Canberra, Adelaide and five regional jurisdictions. Again, according to these figures.
Looking at the longer-term patterns, some markets stand out for their consistency and strong resistance to the national economic forces.
Canberra has delivered some level of growth in each of the past five months. This tends to confirm our view that the national capital is the most Covid-proof city in the nation.
Adelaide has also shown great consistency, with small rises in four of the past five months, including in July. This confirms my positive opinion about the solidity of this under-rated city.
Two of the regional markets, South Australia and Tasmania, have delivered price growth in all of the past five months. And two others - NSW and Queensland - have achieved growth in four of the past five months, including during July.
Central message: prices have not collapsed anywhere and some places continue to grow.
It’s a different message to one delivered by mainstream media. One major newspaper has reacted to the latest figures with the claim that they show that house prices are “plunging” right across Australia.
Nothing of the sort is happening. 
The CoreLogic figures indicate that house prices are higher than they were a year ago in 11 of the 15 market jurisdictions.
That simple truth demonstrates that the forecasts back in March-April of a dramatic and immediate collapse of house prices was sensationalist nonsense.
 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Australian house prices resilient in COVID-19 downturn: Hotspotting's Terry Ryder

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Further property price falls ahead: Shane Oliver

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Despite a backdrop of political unrest and uncertainty driven by COVID-19, the Asia-Pacific flexible office market has remained strong over the past 12 months. According to <a href="https://www.instantoffices.com/blog/instant-offices-news/apac-flexible-office-market-summary-2020/" target="_blank">Instant’s latest report</a>, the industry is in a good position to benefit as companies across the region adjust their office strategies.
The flexible office market remained strong in the Asia-Pacific region over the past 12 months despite a tumultuous backdrop of political unrest and social uncertainty driven by COVID-19. And the industry appears well placed to benefit from the changes to office strategy from companies across the region. 
The resilience of client demand in the face of these issues points to a bright future for the Asia-Pacific Flexible office solution and suggests that the broader approach to the procurement and operation of offices has changed for the long-term.  The data comes from The Instant Group, the global specialist in flexible workspace, with more than 20 years’ experience in the market.  
Supply of flexible workspace – consisting of coworking, serviced offices and spaceasaservice– grew by 19 per cent over the past 12 months in the region, the third successive year of high growth. 
There are now nearly 10,000 centres for flexible workspace in the region, meaning that it is fast catching the more established markets of Europe and the US, despite its relative immaturity.  Seven of the ten fastest growing markets for flexible workspace are now in Asia.  
“The impact of COVID-19, the first Black Swan event to be seen in a generation, has been severely felt across the industry and is not something that we can ignore. The trends that we expect to see during 2020 will no doubt be very different to what the industry has seen in the past, but the long term future still looks very healthy,” explained Sean Lynch, Managing Director of the Instant Group in Asia-Pacific.  
“A trend that started with younger workers looking for short-term, flexible space has become a key tool for businesses of all sizes and is a trend that we predict will only grow in momentum across the Asia-Pacific region in the coming months as those companies that have expiring leases look at ways to futureproof their workplace strategy.”
The flexible office market in Asia-Pacific is growing at a rapid pace. Of the top 20 cities across the region, 60 per cent witnessed double digit growth in supply throughout 2019. Growth in Hong Kong has slowed compared to previous years, with Sydney, Kuala Lumpur, Singapore and Jakarta overtaking in 2019. 
Several Indian markets, including Hyderabad and Pune are currently among the fastest growing markets in the Asia-Pacific region. More mature markets have witnessed slower growth, mainly due to the lack of vacant office space available.
The impacts of Covid-19 are expected to be wide ranging in the short term with both supply and demand for flexible workspace impacted. The appetite we had seen for the flexible workspace market that we had seen throughout 2019 is thought to still exist but, as indicated in our forecast this does not mean the industry is exempt from short term pain. In the short time since “Lockdown” began to alleviate, we have already seen customer demand for flexible workspace return to pre-COVID-19 levels.
While the region had experienced several bumps in the road throughout 2019 many operators had still be looking to expand their operations throughout 2020. We are unlikely to see the previously expected levels of new investment as providers look to solidify their existing operations and there is no doubt that certain providers will not be able to weather the storm. These two factors mean that for 2020 at least the growth in supply is likely to be cut right back to single digit levels of just 6%. A far cry from the levels seen over the last 5 years.
“We have seen across APAC a number of operators grow and bring great variety to the market. This shows that for those with a strong understanding of flex, who know the local market, and are willing to evolve with it, it will continue to be an exciting industry,” said Sean Lynch.  
“As businesses we face challenges that are outside of our control, but with the fierce competition growing across the region, this can only give more options to our clients and push us all to evolve.”
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Asia-Pacific leads with seven fastest-growing flexible workspace markets

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Potter Projects, a division of The Potter Group, has announced the acquisition of a prime 4,880 sqm industrial site in Burleigh Heads for a new warehouse development.
Zac Potter confirmed Potter Projects had acquired 49 Leda Drive, within an established and popular industrial precinct, for $3,100,000 plus GST.
Mr Potter said the vacant freestanding warehouse currently occupying the site would be demolished and replaced by an upscale industrial project comprising 22 light industrial warehouses with ancillary offices.
He said it would be similar to Potter Projects’ Flagstone Business Centre only metres away at 3 Flagstone Drive, Burleigh Heads. 
The recently completed development has sold 15 of the 18 warehouses by completion, even with the COVID-19 pandemic taking place mid sales campaign. 
Three warehouses now remain for sale. 
“Warehouse sizes are likely to range from 85 sqm to 200 sqm, catering for a broad range of end users,’’ Mr Potter said.
“Several draft plans have already been drawn up and we hope to lodge a DA with council in the coming weeks,’’ he said. 
Potter Projects is experiencing strong demand for its industrial property, achieving millions of dollars in sales across its growing portfolio of warehousing and commercial projects on the Gold Coast in recent months.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/31/24_Burleigh%20Heads%202.jpg" alt="">
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Potter Projects acquires $3 million Burleigh site for new warehouse development

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Teska Carson has sold an office/warehouse in Richmond for $3.4 million to a local owner-occupier after taking nearly 230 enquiries and 12 offers for the newly renovated industrial property.
Located at 426 Burnley Street - about ten minutes from the centre of Melbourne - the property comprises a single level, 595 sqm, solid brick building.
It had a clear span warehouse, a two-level office, and basement storage, on a 555 sqm site with 12 metres street frontage.   
Agent George Takis said the quality building was located in one of Melbourne’s most popular city fringe markets with strong growth prospects and the additional attraction of the potential for redevelopment.
"More than 200 enquiries, 12 offers and $6126 a square metre, is an absolutely extraordinary result in any market, but particularly in these most uncertain times. 
The property was sold with vacant possession.
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12 offers for $3.4 million Richmond warehouse

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Melbourne tyre retailer and wholesaler, Superior Tyres, will open its doors in Sunshine West after securing on an industrial facility. 
The 7,036sqm property at 531 Somerville Road features a building area of 4,071sqm, incorporating a mix of office, warehouse and large showroom/retail areas.
The property, formerly occupied by Tradelink, features three container height roller doors, a large concrete hardstand and ample car parking.  
CBRE negotiated the lease.
Superior Tyres will lease the property for six years at a rate of $330,000 per GST (plus GST and outgoings).  
Mr Murphy commented Superior was looking to relocate from Kensington/
"Superior Tyres identified this property as a perfect fit for the long-term future of its family business. It offered an ideal blend of retail, office and warehouse.  
The onset of COVID-19 caused some delays in finalising the transaction but both landlord and tenant were understanding and committed to a mutually-beneficial deal.”  
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