For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

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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GUEST OBSERVATION
In all Australia’s capital cities, average share-house rents in the inner suburbs (where <a href="https://theconversation.com/rapid-growth-is-widening-melbournes-social-and-economic-divide-117244" target="_blank">jobs are concentrated</a>) leave people without enough money for food and other basics, new research shows.
This research, for a forthcoming report by the authors, proves there is a rental housing crisis for people on Newstart (and other low-income earners) everywhere in Australia.
The analysis was based on Real Estate Institute of Australia (REIA) <a href="https://reia.asn.au/product-category/individual-data-purchase/" target="_blank">data</a>, using common indicators such as housing affordability and stress. Housing stress for people on low incomes is <a href="https://www.ahuri.edu.au/policy/ahuri-briefs/3040-indicator#targetText=The%20'30'%20in%20the%2030,to%20be%20in%20housing%20stress." target="_blank">defined</a> as when rent costs more than 30% of their income.
For example, the dataset for Victoria (the third-most-expensive rental market and broadly representative of the nation) shows rent for a share house in Melbourne averages 70% of income for a single person receiving <a href="https://www.humanservices.gov.au/individuals/services/centrelink/newstart-allowance/how-much-you-can-get" target="_blank">Newstart</a> (A$277.50 per week) and <a href="https://www.humanservices.gov.au/individuals/services/centrelink/rent-assistance" target="_blank">Commonwealth Rent Assistance</a> (A$45.74 per week). This leaves people with A$98 a week to live on. That’s less than half the <a href="http://unsworks.unsw.edu.au/fapi/datastream/unsworks:46141/binaaacbcf3-915f-40bc-a70f-2052746ab643?view=true" target="_blank">A$216 a week</a> that experts calculate is a healthy base level of income for a single unemployed person.
After paying rent, people on Newstart have just A$14 a day to cover food, utilities and the costs of job seeking such as mobile phone plans and travel cards (<a href="https://www.ptv.vic.gov.au/tickets/fares/metropolitan-fares/" target="_blank">A$4.40 a day in Melbourne</a>).
<a href="https://images.theconversation.com/files/292976/original/file-20190918-187957-hzokjt.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/292976/original/file-20190918-187957-hzokjt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author analysis based on REIV data, Author provided
While it was assumed rent for people on low incomes eats up much of their benefits, this analysis shows just how bad the situation has become in all capital cities. It is worst in Sydney. As the chart below shows, median weekly rent in Sydney is A$550, which when split between two renters amounts to A$275 each. This leaves a renter on Newstart with the princely sum of just A$48.24 a week – A$6.89 a day – to live on.
<a href="https://images.theconversation.com/files/293088/original/file-20190918-187991-14slgpp.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/293088/original/file-20190918-187991-14slgpp.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Affordable rent points compared to median rents in capital cities. Author analysis using REIV data, Author provided
What about living in cheaper areas?
Another worrying aspect of the data is it suggests high rents are compelling people on Newstart payments to relocate from inner cities to the outer suburbs and satellite towns with worse labour markets and higher transport costs. And even in these towns, the data paint a bleak picture.
In Victorian regional cities like Bendigo and Ballarat the rent for sharers exceeds the commonly accepted 30% benchmark for housing stress. Here they would be paying A$130 a week – almost half their Newstart payments. With Rent Assistance, that would leave them with A$192 – still A$24 less than the healthy benchmark.
There are only two regions in all of Australia where single unemployed people would have any hope of meeting rents. These are northern Tasmania and outer Hobart, where the <a href="https://www.rdatasmania.org.au/news/tasmania-ranks-high-in-youth-unemployment-hotspots/" target="_blank">youth unemployment rate is 16%</a>. You can add about another <a href="http://bilbo.economicoutlook.net/blog/?p=22954" target="_blank">10 points to the unemployment rate</a> to get a real sense of the challenges of getting jobs in these places.
<a href="https://images.theconversation.com/files/293089/original/file-20190918-187935-wq63n8.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/293089/original/file-20190918-187935-wq63n8.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Affordable rent points compared to median rents for regions. Author analysis using REIV data, Author provided
Benefit increases are essential
So what is affordable for people on Newstart? For single people receiving Newstart and <a href="https://www.humanservices.gov.au/individuals/services/centrelink/rent-assistance" target="_blank">Rent Assistance</a>, share-house rents would have to be A$87.
While the table below shows A$97, that would be the affordable rent if maximum Rent Assistance were paid. But it does not actually kick in until <a href="https://www.humanservices.gov.au/individuals/services/centrelink/rent-assistance/eligibility-payment-rates/how-much-you-can-get" target="_blank">weekly rent exceeds A$61</a>. So low-rent places do not attract as much of a subsidy from Rent Assistance as higher-rent properties.
This points to the need for Rent Assistance to kick in at a lower income point. It also needs to be increased to avoid housing stress.
<a href="https://images.theconversation.com/files/293091/original/file-20190918-187985-ykep1q.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/293091/original/file-20190918-187985-ykep1q.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author provided
The federal government’s response to this kind of evidence always relies on an argument that Newstart is intended as a <a href="https://www.financeminister.gov.au/transcript/2019/07/22/abc-radio-%E2%80%93-am" target="_blank">“transitional” payment</a>. The unemployed are told they should “<a href="https://www.theguardian.com/australia-news/2019/jul/29/unfunded-empathy-scott-morrison-pushes-back-on-growing-calls-to-lift-newstart-rate" target="_blank">get a job</a>”.
But it is very clear this is not as easy as it sounds. That is because there are increasing numbers of people on Newstart <a href="https://www.theage.com.au/politics/federal/200-000-australians-with-a-disability-struggling-to-get-by-on-newstart-report-20190916-p52rt6" target="_blank">with disabilities</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-09-25/mature-workers-on-newstart/10195296" target="_blank">over 55 years old</a> – the majority of <a href="https://theconversation.com/are-most-people-on-the-newstart-unemployment-benefit-for-a-short-or-long-time-120826" target="_blank">long-term unemployed</a> are now mature-age job seekers.
There are also <a href="https://theconversation.com/these-job-snob-claims-dont-match-the-evidence-121429" target="_blank">far more applicants than job vacancies</a>. It’s worse in regional areas where there are fewer jobs to begin with.
Many welfare agencies are preparing submissions to a <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Community_Affairs/Newstartrelatedpayments" target="_blank">Senate inquiry</a> into Newstart and related payments in time for the September 30 deadline. These submissions are expected to contain even more compelling analysis showing it is impossible to survive on Newstart.
The Australian Council of Social Service (<a href="https://www.acoss.org.au/about-us/" target="_blank">ACOSS</a>) and several other agencies are demanding that <a href="https://raisetherate.org.au/" target="_blank">Newstart be raised by at least A$75 a week</a>. Even this badly needed increase will not fully alleviate housing stress, which is the <a href="https://www.acoss.org.au/housing-homelessness/" target="_blank">main cause of homelessness among low-income people</a>.
Simone Casey, Research Associate, Future Social Service Institute, RMIT University
Liss Ralston, Urban Statistician, Centre for Urban Transitions, Swinburne University of Technology
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/city-share-house-rents-eat-up-most-of-newstart-leaving-less-than-100-a-week-to-live-on-123772" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

City share-house rents eat up most of Newstart, leaving less than $100 a week to live on

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Perth’s industrial market continues to improve with record low yields and an annual vacancy fall of almost 5%, according to Knight Frank’s latest research report. 
The found however that there is still inconsistency across locations, product styles and end-users making some market sectors tough going.
The latest Perth Industrial Market Overview shows vacancy has reduced 4.7% year on year for 2018/19, but while the news is good for suburbs like Canning Vale, Bibra Lake and Wangara, established eastern precincts like Kewdale and Welshpool are no longer enjoying the same success due to their older stock.  
Modern developments constructed by private investors in estates like Canning Vale and Bibra Lake are now mostly full and placing upwards pressure on rents for other new facilities brought to the market.  
According to Knight Frank Industrial Sales &amp; Leasing Director, Geoff Thomson, other areas showing improvement in rental rates are those with recent infill subdivisions, where the delivery of new lots led to speculatively constructed buildings. 
<a href="https://www.propertyobserver.com.au/images/2019/9/4/perth%20industrial%201.png" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/9/4/perth%20industrial%201.png" alt="">
He said this activity had been seen mainly in core industrial precincts, but was also having a flow on effect across other sections the market. 
“The resurgent resource sector in WA is undoubtedly leading the recovery in the industrial property market, but at this stage it is still very resource focussed,” Mr Thomson said.  
“The demand for workshops with crane capacity and hardstand continues in the eastern and southern precincts. 
“While there has been an increase in both sales and leasing activity over the last 12 months, it is very much focussed on new stock, particularly in the Wangara/Gangara, Bassendean and Canning Vale areas. 
“Speculative developments in these areas have predominantly leased in the short term and have outperformed the more established areas who are offering older style facilities.” 
<a href="https://www.propertyobserver.com.au/images/2019/9/4/perth%20industrial%202.jpg" target="_blank">Click here </a>to enlarge: 
<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/2019/9/4/perth%20industrial%202.jpg" alt="">
Mr Thomson said investment demand from both local and east coast based investors had driven yields to record lows, but a lack of suitable investment opportunities meant there was relatively little sales activity.  
Knight Frank Research Analyst Nicholas Locke said vacancy data as at July 2019 revealed total available space of approximately 622,000 sqm in buildings larger than 2000 square metres. - an impressive quarterly decline of 2.9%.  
However he highlighted the volatility in the market that had seen alternating quarterly increases and decreases leading to an overall, but unsteady improvement.
<a href="https://www.propertyobserver.com.au/images/2019/9/4/perth%20industrial%203.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/9/4/perth%20industrial%203.jpg" alt="">
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Perth industrial market continues to improve with record low yields: Knight Frank 

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Office investment activity in Newcastle has been fairly subdued over the past 12 months, according to the latest report from valuation firm Herron Todd White.
The property valuation firm said the outlier was the headline grabbing sale of 18 Honeysuckle Drive, Newcastle (pictured) to IOOF Investment Management Ltd for a reported sum of $52.2 million of course, A record for office property in the city.
Colliers International describes the property as, “an A Grade, seven-level commercial building completed in 2017 that provides investors with a top tier asset featuring outstanding investment credentials."
"The 6,524 square metre building is 100% leased to a diverse list of corporate and Government tenants. Plus it is well-positioned in the prominent Honeysuckle harbour front precinct of the Newcastle CBD."
The property was designed to meet a 4.5-star NABERS energy rating and was awarded a 5-Star Green Star rating.
The sale reflects an approximate yield of 6.2% and reflects the continuance of low yields for well positioned and occupied investment stock in the current market.
A-grade vacancy remains at historic lows and with major office developments around the Wickham transport interchange being built fully or majority pre-committed, this vacancy rate will remain low for some time, the report concluded.
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Newcastle office market remains subdued: HTW Commercial 

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Sales transactions in the Wollongong office sector have slowed over the past 12 months mirroring the trend of the broader commercial real estate market across regional New South Wales, according to the latest report from valuation firm Herron Todd White.
The firm's report found, the slowdown is coming at the end of a very buoyant three years where record sales prices were achieved resulting in yield compression across the board.
This is exemplified by the sale of 90 Crown Street, Wollongong in late 2018 for $50.38 million showing an initial passing yield of 7.75% on a WALE of 3.5 years.
Report authors stated, "the slowdown in investment sales over the past year is attributed to several factors including the Banking Royal Commission, state and federal elections, volatility in the global markets, downturn in the housing market and just the normal market cycle."
"There is optimism that recent interest rate cuts will spur activity with most participants keenly watching to see if this will result in further yield compression in the sector or if there will be a more permanent reassessment of risk despite lower borrowing costs."
"During this period of low and reducing interest rates, owner-occupiers have remained relatively active in the sub-$1.5 million price category, however the limited availability of such properties particularly in the Wollongong CBD has seen owneroccupiers look further afield to the region’s other major centres including Corrimal, Fairy Meadow, Dapto and Shellharbour."
"Gross face rents in the Wollongong CBD generally sit in the order of $400 to $450 per square metre for A-grade and $350 to $395 per square metre for better quality B-grade stock in the CBD," the authors concluded.
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Wollongong office market slows after three buoyant years: HTW Commercial

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For a number of years, the performance of the Brisbane office market has been underwhelming, to say the least, and has lagged behind the broader Brisbane commercial markets, according to property valuation firm Herron Todd White.
The valuation firm found, stubbornly high vacancy rates due to constant supply additions and patchy conditions across key industries resulting in an ongoing competitive leasing market and limited rental growth have been key factors as to why the office market has been sluggish virtually since the GFC.
Brisbane is however currently undergoing a major transformation with a number of significant infrastructure projects that have either recently been completed or are currently under construction.
These projects, coupled with the low interest rate environment, are having a positive impact on the CBD and fringe CBD leasing markets and are seeing increasing appetite from investors, both on a private and an institutional level.
Recent vacancy statistics released by the Property Council of Australia (PCA) have indicated that the overall Brisbane CBD vacancy rate compressed further in July 2019 to 11.9%, which is its lowest rate since January 2013. Furthermore, the overall Brisbane fringe CBD market also reduced to 13.8%, its lowest since January 2017.
Vacancies for prime grade CBD accommodation are now below 9% and more tellingly, there is no sub-lease space now available in these properties.
A-grade vacancies in fringe areas have also dropped markedly from 16.7% to 12.7% over the past six months.
The report stated, "given the improving leasing markets, it is likely we will see gross face rents stabilise for prime and A-grade office accommodation in the CBD and fringe CBD."
It also noted, stronger performing precincts such as King Street and Ann Street (Fortitude Valley), Gas Works precinct (Newstead), South Brisbane and the Golden Triangle (Brisbane CBD) are likely to see rental growth over the remainder of the year for modern quality developments.
The HTW valuers said, "we may also (finally!) see incentives start to fall. The positive vibe coming out of Brisbane is now starting to translate into a number of strong investment transactions and the opportunity and appetite for re-positioning underperforming commercial office assets is on the rise."
"The market generally has been active over the past 12 months and selling agents are reporting that demand is also increasing for underperforming, older style office assets that can be re-positioned and re-let."
"The near-term outlook for the Brisbane office market appears positive and it is possible that further yield compression may occur should interest rates decline further."
"Furthermore, the yield spread between Brisbane and its southern counterparts (Sydney and Melbourne) is still significant and the coming infrastructure projects are likely to increase Brisbane’s attraction as an investment destination," they concluded.
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Brisbane office market sees growing investor appetite: HTW Commercial

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The Coffs Harbour office market has remained relatively stable during 2019, according to the latest report from property valuation firm Herron Todd White.
The report found, the market for leasing appears to have remained stable with supply and demand issues broadly balanced which has resulted in rents remaining stable.
Good quality office space is leased at $350 to $400 per square metre per annum.
Specialist medical tends to command a premium above this with examples of $400 to $500 per square metre occurring.
Secondary office accommodation tends to be more difficult to lease with rentals in the vicinity of $200 to $300 per square metre depending on size, quality and location.
The report authors stated, "the direction of yields tends to be stable with ultimately the strength of the tenant and lease term driving the yield."
"The traditional variation between retail and office markets (one per cent to 1.5 per cent in favour of retail) is no longer as evident as it once was."
"The retail sector is currently experiencing higher vacancy and the longer lease-up periods are impacting value and saleability."
"The office market appears the more stable at this time and into the future the yield trend between office and retail maybe reversed," they concluded.
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Coffs Harbour office market stable while NSW slows: HTW Commercial 

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A new office/showroom/warehouse in Bayswater has been sold for $4.5 million. 
It represents a sharp yield of 5.68% and building sale rate of $2,200 per square metre.
Stan Dawidowski and Ian Angelico of CVA held the listing. 
The property comprises a floor area of 2,038 sqm, quality construction, main road profile, and finishes throughout including a passenger lift and 30 onsite car spaces. 
Set on a 3,202 sqm land holding, it was sold subject to a 5+5-year lease to a local company, with rental of $256,000 per annum.
The property is positioned opposite Mitre 10 Bayswater, between Scoresby Road &amp; Mountain Highway and about 1 km to the Bayswater Train Station.
“The firming of yields and sale rates coupled with the increase in enquiry are evidenced through CVA transactions over the past two months and there is a clearly defined level of confidence in the commercial market,”  says Angelico. 
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Brand new Bayswater commercial building sold for $4.5 million

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A development parcel with the potential for a school site in the northern NSW coastal village of Pottsville has hit the market. 
The property sitting at <a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMnRwCHtDSMM2WWxS6QOKXcl8elBm5QDFkEeRMk9HQbKY61FnTKC8+7uUXkYU97BYQJSzAdO2g4UgkJgCTRJXY6FgjPKcgMBrAIv0CpAJifgfpACTrULjxxafyMqKpoX8wC9+bIWTdlqe&amp;rh=ff0051e1124efff45e4cf971fe4d93d46fa60538" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Lot 1747 Seabreeze Boulevard</a> is on a 6.27ha site, and is just 2.5km to Pottsville Village and beachfront.
It is designated ‘Potential School Site’ in the Tweed Shire Council DCP. 
The property is being marketed via expressions of interest by Ray White Special Projects Queensland Executive Directors Mark Creevey and Tony Williams.
<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/2019/9/23/Potts_2.jpg" alt="">
Creevey said Seabreeze Estate was at the picturesque seaside village of Pottsville, within the Tweed Local Government Area.
“Pottsville is just 35km south of the Queensland border and only 40km north of ever-popular Byron Bay,” Creevey said.
The expressions of interest campaign for the property closes October 9.
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Pottsville school site hits the market

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A fully leased prime retail investment in the heart of Armadale has hit the market. 
Located at 1234 High Street, the property comprises a 139 square metre retail premises with a flexible open plan layout and first floor mezzanine.
The property will be sold subject to a three year lease with a three year option to The Paper Empire at $64,326 per annum net with 4 per cent annual reviews. 
Zoned Commercial 1, the 109 sqm site has 5m frontage to High Street and a right of way provides access to parking at the rear, plus there is also ample off-street parking within the precinct. 
Teska Carson’s George Takis and Barry Novy have the listing.
The property will be auctioned on October 3. 
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Retail investment in the heart of Armadale set for auction

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A workshop in Bibra Lake, Western Australia is to be sold with vacant possession.
The 1300 sqm facility is set on a 369 sqm site at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-wa-bibra+lake-503203250" target="_blank">33 Howson Way, Bibra Lake</a>.  
Knight Frank Director of Industrial – WA, Scott Bailey, said the Bibra Lake precinct had been one of the most active industrial areas as WA’s mining sector continued to gather momentum.  
He said this particular property would suit an owner-occupiers looking to hit the ground running with features such as upgraded power supply, dedicated hardstand for storage, cranes for lifting and the location. 
“Quality properties like this with the ideal combination of hardstand and workshop will continue to be in demand to fabricators, marine businesses and transport type users,” Mr Bailey said. 
The property is now under contract, according to the realcommercial.com.au listing.
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