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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Caltex Australia has put 25 properties to market in the first tranche of a 50 property divestment strategy. 
The 25 service station/convenience store properties include 16 in New South Wales, seven in Victoria, one in WA, and one on the Gold Coast.
Caltex chief development officer, David Bridger, confirmed the strategic release of the first tranche of the sale of 50 freehold metropolitan sites was aimed at the apartment and mixed use market. 
The properties will be sold through CBRE and Stonebridge with purchasers having options to buy individual sites, sites in any combination or the offering as a whole. 
Locations include Surfers Paradise, Bondi, Mascot, Box Hill, and Perth.
CBRE Director Investments, Mark Wizel said the portfolio offered an opportunity for apartment, mixed use, retail, hotel and build-to-rent developers. 
"These sites are being offered at a time of strong ongoing demand for low to medium rise apartments which are now in short supply, due to the lack of development site opportunities within metro areas, particularly in Melbourne and Sydney," Wizel said. 
"The fact that the bulk of the sites are extremely well located to transport, schools and town centres make them ideal for apartments but for the same reasons they are also well suited to a range of other uses."
<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/2019/9/9/Caltex%20Brunswick%20East.jpg" alt="">
He said the offering had also come at a time when developers were looking to the suburbs for well-located low/medium rise opportunities. 
"Coincidentally those type of projects are ones which the banks are now much more amenable to providing funding for," Wizel said. 
He said market drivers such as the improving domestic residential clearance rate, low interest rates, and ongoing population growth would also be top of mind for prospective purchasers. 
<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/2019/9/9/Caltex%20Clayton-2.jpg" alt="">
Recent CBRE research revealed an almost 30% rise in Asian buyer’s total spending from $880 million in 2017/2018 to $1.135 billion over the 2018/2019 financial year in Melbourne alone with nearly 80% of investment sales since June 1/2019 involving Asia-based investors. 
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j.ballantyne1990-6AQqhLzZaK

Caltex puts 25 development sites on the market

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EXPERT OBSERVER
Sydney’s Inner West Council has a new policy that it is reported means “residents will no longer need to seek council approval to prune or remove trees within three metres of an existing home or structure”.
Hold on, don’t reach for that chainsaw yet, because <a href="http://www.aecom.com/content/wp-content/uploads/2017/04/Green-Infrastructure-vital-step-brilliant-Australian-cities.pdf" target="_blank">research shows</a> good green infrastructure – trees, green roofs and walls – can add value to your home.
 
Green infrastructure offers significant, economic, social and environmental benefits. Urban greening is particularly important in dense urban areas like Sydney’s Inner West. Among its benefits, green infrastructure:
<ul>
<li><a href="https://theconversation.com/how-urban-bushland-improves-our-health-and-why-planners-need-to-listen-72876" target="_blank">improves air quality</a></li>
<li>provides <a href="https://theconversation.com/many-people-feel-lonely-in-the-city-but-perhaps-third-places-can-help-with-that-92847" target="_blank">space for social interaction</a>
</li>
<li><a href="https://theconversation.com/more-than-just-drains-recreating-living-streams-through-the-suburbs-83345" target="_blank">manages stormwater</a></li>
<li><a href="https://theconversation.com/why-are-cities-warmer-than-the-countryside-53160" target="_blank">reduces the urban heat island effect</a></li>
<li>provides space for <a href="https://theconversation.com/three-ways-cities-can-help-feed-the-world-without-costing-the-earth-112186" target="_blank">urban food production</a>
</li>
<li>
<a href="https://theconversation.com/the-small-patch-of-bush-over-your-back-fence-might-be-key-to-a-species-survival-108672" target="_blank">improves biodiversity</a>.</li>
</ul>
Some of these benefits accrue to owners/occupiers, whereas others provide wider societal benefits.
A <a href="http://www.aecom.com/content/wp-content/uploads/2017/04/Green-Infrastructure-vital-step-brilliant-Australian-cities.pdf" target="_blank">2017 study</a> focusing on three Sydney suburbs found a 10% increase in street tree canopy could increase property values by A$50,000 on average. And the shading effect of trees can <a href="http://www.gallagherstudio.com.au/blacktown-cool-streets-pilot-project" target="_blank">reduce energy bills by up to A$800 a year in Sydney</a>. So retaining your green infrastructure – your trees, that is – can deliver direct financial gains.
On a larger scale, a <a href="https://opus.lib.uts.edu.au/bitstream/10453/121458/1/Ghosh_Yung-Full-paper-Ecocity-Summit-2017-Final.pdf" target="_blank">collaborative project</a> with Horticulture Innovation Australia Limited compared carbon and economic benefits from urban trees considering different landuses along sections of two roads in Sydney. Higher benefits were recorded for the Pacific Highway, with 106 trees per hectare and 58.6% residential land use, compared to Parramatta Road, with 70 trees per hectare and 15.8% residential.
For the Pacific Highway section, total carbon storage and the structural value of trees (the cost of replacing a tree with a similar tree) were estimated at A$1.64 million and A$640 million respectively. Trees were also valuable for carbon sequestration and removing air pollution.
Tree species, age, health and density, as well as land use, are key indicators for financial and wider ecosystem benefits. Specifically, urban trees in private yards in residential areas are vital in providing individual landowner and collective government/non-government benefits.
<a href="https://images.theconversation.com/files/290832/original/file-20190904-175710-thqcje.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/290832/original/file-20190904-175710-thqcje.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Take away the trees close to these houses in Marrickville, in Sydney’s Inner West, and how much would be left? <a class="source" href="https://en.m.wikipedia.org/wiki/Henson_Park" target="_blank">Graeme Bartlett/Wikipedia</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
<h2>Challenges of growth</h2>
As populations grow, cities increase density, with less green infrastructure. The loss of greenery affects the natural environment and both human and non-human well-being.
<a href="https://images.theconversation.com/files/290809/original/file-20190904-175682-j6pcza.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/290809/original/file-20190904-175682-j6pcza.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Tree canopy cover across Greater Sydney plummets closer to the city centre. <a class="source" href="https://www.greater.sydney/metropolis-of-three-cities/sustainability/city-its-landscape/urban-tree-canopy-cover-increased" target="_blank">© State of New South Wales through the Greater Sydney Commission. Data: SPOT5 Woody Extent and Foliage Projective Cover (FPH) 5-10m, 2011, NSW Office of Environment and Heritage</a>
Trees and other green infrastructure reduce some impacts of urban density. However, policies, government incentives and national priorities can produce progress in urban greening or lead to setbacks. In the case of the Inner West Council, for instance, the inability to fund monitoring of changes in tree cover could lead to reductions at the very time when we <a href="https://www.greater.sydney/metropolis-of-three-cities/sustainability/city-its-landscape/urban-tree-canopy-cover-increased" target="_blank">need more canopy cover</a>.
<a href="https://theconversation.com/if-planners-understand-its-cool-to-green-cities-whats-stopping-them-55753" target="_blank">Key concerns</a> include installation and maintenance costs of green infrastructure (trees, green roofs and walls) in property development, and tree root damage. Knowledge and skills are needed to maintain green infrastructure. As a result, developers often consider other options more feasible.
In the short and long term, multiple performance benefits and economic and environmental values are needed to establish the viability of green infrastructure.
<h2>Learning from Stockholm</h2>
Stockholm shares many issues found in Australian cities. Stockholm houses over 20% of Sweden’s inhabitants, is increasing in density and redeveloping land to house a growing population. Aiming to be fossil-free by 2050, Stockholm acknowledges the built environment’s role in limiting climate change and its impacts.
In a research project we intend to use <a href="https://theconversation.com/au/topics/virtual-reality-5439" target="_blank">virtual reality</a> (VR) and <a href="https://www.healthdirect.gov.au/electroencephalogram-eeg" target="_blank">electroencephalogram</a> (EEG) technology to assess perceptions of green infrastructure and reactions to it in various spaces.
Our project combines VR with EEG hardware, which measures human reactions to stimuli, to learn how people perceive and value green infrastructure in residential development.
<h2>Identifying all the value of green infrastructure</h2>
The many benefits of green infrastructure are both tangible and non-tangible. Economic benefits include:
<ul>
<li>those that directly benefit owners, occupants or investors – stormwater, increased property values and energy savings</li>
<li>other financial impacts – greenhouse gas savings, market-based savings and community benefits.</li>
</ul>
The various approaches to evaluating net value present a challenge in quantifying the value of green infrastructure. The most common – cost-benefit analysis, triple bottom line, life cycle assessment and life cycle costing – are all inadequate for evaluating trade-offs between economic and environmental performance. Conventional cost-benefit analysis is insufficient for investment analysis, as it doesn’t include environmental costs and benefits.
This is salient for green infrastructure, as owners/investors incur substantial direct costs, whereas various shareholders share the value. Perhaps, in recognition of the shared value, a range of subsidies could be adopted to compensate investors. Discounted rates anyone?
Recent efforts to evaluate the business case for green infrastructure include attempts to identify and quantify the creation of economic, environment and community/social value. However, an approach that includes a more comprehensive set of value drivers is needed to do this. This is the gap we aim to fill.
The results of experiments using VR and EEG technology and semi-structured interviews will provide a comprehensive understanding of green infrastructure. This will be correlated with capital and rental values to determine various degrees of willingness to pay.
With this knowledge, property developers in Sweden and Australia will be able to make a more informed and holistic business case for increasing green infrastructure for more liveable, healthy cities.
Maybe we can then persuade more people, including those in the Inner West, to hang onto their trees and leave the chainsaws in the garage.<img src="https://counter.theconversation.com/content/122710/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/sara-wilkinson-14186">Sara Wilkinson</a>, Associate Professor, School of the Built Environment, <a href="http://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>; <a href="https://theconversation.com/profiles/agnieszka-zalejska-jonsson-823679" target="_blank">Agnieszka Zalejska-Jonsson</a>, Researcher, Division of Building and Real Estate Economics, <a href="http://theconversation.com/institutions/kth-royal-institute-of-technology-3258" target="_blank">KTH Royal Institute of Technology</a>, and <a href="https://theconversation.com/profiles/sumita-ghosh-485400" target="_blank">Sumita Ghosh</a>, Senior Lecturer, School of the Built Environment, <a href="http://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>
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/trees-can-add-50-000-value-to-a-sydney-house-so-you-might-want-to-put-down-that-chainsaw-122710" target="_blank">original article</a>.
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Trees can add $50,000 value to a Sydney house, so you might want to put down that chainsaw

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EXPERT OBSERVER
<div>Some blessed relief for housing investors as the number of interest-only loans was finally off the lows in the June 2019 quarter. </div>
<div> </div>
<div>Following changes to serviceability rules further increases should hopefully be observed in the second half of 2019. </div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-4O4lsCRwf3w/XXihJfNIBtI/AAAAAAAAxvI/VFB74vQ0fLkVPLfJdrzacn1_6lJS14RKQCNcBGAsYHQ/s1600/APRA3.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-4O4lsCRwf3w/XXihJfNIBtI/AAAAAAAAxvI/VFB74vQ0fLkVPLfJdrzacn1_6lJS14RKQCNcBGAsYHQ/s640/APRA3.jpg" width="640" height="380" data-original-height="810" data-original-width="1360"></a></div>
<div> </div>
<div>The stock of interest-only loans continued to decline sharply to 21.8 per cent of total mortgages, however - comfortably the lowest share on record - having been at 39 per cent of the stock of outstanding mortgages by value as recently as early 2017. </div>
<div> </div>
<div>This shows how dramatically effective the interest rate differential was in lending and borrowing behaviours, alongside caps and certain other restrictions. </div>
<div> </div>
<div>Despite all the hype, there have been comparatively few signs of forced selling to date, with most borrowers managing the transition comfortably. </div>
<div> </div>
<div>In fact, new stock listings have remained exceptionally low. </div>
 
<div class="separator"><a href="https://1.bp.blogspot.com/-qbdYgMvXRC0/XXihJBDCpMI/AAAAAAAAxvE/_ggtTS4Uevoc2v0bCDK5FXu4nIDb4s5lgCNcBGAsYHQ/s1600/APRA1.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-qbdYgMvXRC0/XXihJBDCpMI/AAAAAAAAxvE/_ggtTS4Uevoc2v0bCDK5FXu4nIDb4s5lgCNcBGAsYHQ/s640/APRA1.jpg" width="640" height="360" data-original-height="808" data-original-width="1431"></a></div>
<div class="separator"> </div>
<div class="separator"> </div>
<div>There has been an impact on consumption, though, and NAB now forecasts three further interest rate cuts over the next nine months, as indeed does ANZ. In fact, NAB also sees a chance of unconventional measures on top of these cuts. </div>
<div> </div>
<div>Of the remaining interest-only loans Westpac retains the largest stock.</div>
<div> </div>
<div>Finally, the 5-year squeeze on higher-LVR lending has finally eased a little, with the majors steadily writing more loans at 80-90 per cent LVRs, which is also a relief to see.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-kP14s7e2XO0/XXihJTZDa1I/AAAAAAAAxvA/xt8bOFD1EI4ph6UQAGgzC_czyaFZF6CYwCNcBGAsYHQ/s1600/APRA2.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-kP14s7e2XO0/XXihJTZDa1I/AAAAAAAAxvA/xt8bOFD1EI4ph6UQAGgzC_czyaFZF6CYwCNcBGAsYHQ/s640/APRA2.jpg" width="640" height="368" data-original-height="807" data-original-width="1397"></a></div>
Non-banks wrote a fair chunk of the loans at above 90 per cent LVRs, but there have been fewer exceptions reported as a share of total lending.
<div>Brink of crisis</div>
<div> </div>
<div>Overall, there are some tentative signs that banks are somewhat more willing and able to write mortgages, half a decade after the prudential tightening began. Investment lending is now only about half of what it was at the peak, and some loosening is welcomed to allow first homebuyers an opportunity to buy, with prices also lower over the past two years. Moreover, the banking Royal Commission brought Australia to the brink of a recession and a related banking crisis. At the last count monthly building approvals have crashed to 12,944 (with unit approvals down 44 per cent year-on-year), which is a diabolical leading indicator for activity in the economy, while credit growth is also dreadfully weak. Despite these atrocious numbers, there's often a palpable complacency evident in the housing market commentary. A banking crisis can still be averted, but only if banks can get some credit flowing again...and soon. </div>
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pwargent-M4siyDbqQY

Has the interest-only cliff almost been negotiated? Pete Wargent

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CBRE's hiring of one of the country’s top-billing agents, Simon Rooney, from rival JLL, has caused turmoil in its Melbourne office.
CBRE has reportedly drafted rules that ensures Rooney gets the trophy listings priced at more than $75 million in any of its state offices.
"This is apparently causing the biggest stir in Melbourne," a Nine Entertainment website has reported, in a highly unusual gossipy foray into the world of commercial property sales.
"The team led by indefatigable upstart Mark Wizel has been barred from competing for listings valued over $75 million," the article in The Age suggested.
The website advised "fireworks inside CBRE’s offices" had been expected ever since the CBRE announced it had secured one of the country’s top-billing agents, Simon Rooney, from JLL.
It added Rooney was unchallenged when inside JLL. 
He started at CBRE on August 1, after offers from rival groups, including Cushman &amp; Wakefield, becoming executive managing director, retail investments at CBRE.
Wizel's title was CBRE's National Director of Retail Investments. Wizel (top) claims to be "a household name" in his linked profile.
Rooney's last listing as JLL’s Head of Retail Investments was being exclusively appointed on behalf of the Dexus Wholesale Property Fund (DWPF) to sell a 100% freehold interest in Beenleigh Marketplace in Brisbane.
Rooney left Jones Lang LaSalle after a 25-year stint in which he dominated the retail property sector brokering $20 billion in property deals over the past decade.
He was a top earner for JLL locally and ranked in its top three globally.
Wizel reportedly didn’t respond to calls from Nine Entertainment and a CBRE head office spokeswoman advised he was working "collaboratively" with the rest of retail team, including Wizel.
<div class="_1665V undefined">
As rivals the two have worked together on listings in the past including the landmark Brand Smart Premium Outlet Centre in Nunawading.
Meanwhile residential developer ID Land is has listed the Truganina Central Shopping Centre development site in Melbourne’s west through CBRE’s Justin Dowers, Mark Wizel and Kevin Tong.
It is being marketed as representing the first Melbourne metropolitan shopping centre site offering for 2019. The 2.2ha master planned site is earmarked for a full-line Coles supermarket and a range of specialty shops with commercial facilities, providing a total lettable area of 7,390 sqm. 
</div>
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jchancellor-FAypfDUnLy

Mark Wizel and Simon Rooney in collaborative $75 million plus listings stoush

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A Hardware Lane freehold retail building has been listed for sale.
The two level space at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-503314554" target="_blank">60 Hardware Lane</a> is currently home to Italian restaurant Il Nostro Posto and French day spa Le Beau Monde.
It was once the workshop of master jeweller Gary Bradley, who had paid $175,000 in 1984 for what was then a printing works.
<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/2019/9/11/60%20Hardware%20Lane%201.jpg" alt="">
It currently returns a total net income of $139,921 per annum across its 200 sqm of net lettable area.
CBRE Victoria agents Julian White, Nathan Mufale, Alex Brierley and Chao Zhang are marketing the 1872 built property which goes under the hammer October 3.
It is expected to fetch over $4 million.
<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/2019/9/11/60%20Hardware%20Lane%202.jpg" alt="">
They suggest the block will benefit from an increase in foot traffic given the nearby developments of the new HQ of NAB, a 67 level mixed-use development on Lonsdale Street and a 55 level commercial building at 435 Bourke Street.
The last Hardware Lane sale came four years ago when Campari House, the four level block at 21-25 Hardware Lane, sold at auction for $8.1 million. 
It sold for a record $45,505 per sqm.
 
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jrobinson-rf4aSBido9

Rare Hardware Lane, Melbourne listing

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GUEST OBSERVATION
The most obvious reason for wage stagnation is the decline in unionisation over the past three decades. But you won’t hear that from government economists. 
Wages growth for Australian workers is among the worst in the industrialised world. For more than <a href="https://www.rba.gov.au/publications/bulletin/2019/jun/pdf/wages-growth-by-pay-setting-method.pdf" target="_blank">a third</a> of workers on individual contracts, wages aren’t growing at all.
This is odd, given Australia is in a “<a href="/news">record</a>” 28th year of economic growth with apparently <a href="/news">low unemployment</a> and a supposedly <a href="http://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/speeches/budget-speech-2019-20" target="_blank">strong economy</a>.
Government economists have floated a range of reasons, from blaming workers not changing jobs enough to caps on public-service salaries. But the most obvious factor is the loss of worker power due to the decline in unionisation over the past three decades.
<a href="https://images.theconversation.com/files/288130/original/file-20190815-136208-8bizez.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/288130/original/file-20190815-136208-8bizez.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> 
Looking for alternative answers
Low wage growth is a problem in most industrialised countries, but since 2013 Australia’s nominal wage growth has been less than half the OECD average, <a href="https://www.adelaide.edu.au/press/titles/wages-crisis" target="_blank">according to Jim Stanford</a> at the Australia Institute’s Centre for Future Work.
Last year Stanford co-edited a book on <a href="https://www.adelaide.edu.au/press/titles/wages-crisis" target="_blank">the wages crisis in Australia</a>, to which I contributed. In the book’s third chapter, <a href="https://theconversation.com/profiles/stephen-kinsella-420480" target="_blank">Stephen Kinsella</a> and John Howe declare “the erosion of workers’ rights is the most consequential, and actionable, factor behind the stagnation of wages in Australia”.
<a href="https://images.theconversation.com/files/291398/original/file-20190909-175714-1v8zsnh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/291398/original/file-20190909-175714-1v8zsnh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Percentage of workforce covered by collective agreements. OECD Database on Union Coverage
But some government economists seem to be struggling to recognise this.
In July, a deputy secretary of Treasury instead pointed to the problem of workers not <a href="https://www.themandarin.com.au/111952-whats-driving-low-wages-growth-in-australia/" target="_blank">switching jobs enough</a> as warranting “further attention”.
It was as if, somehow, workers had collectively but separately decided not to apply for higher paying jobs, and this was a cause rather than an effect of lower worker power.
Last month the Reserve Bank governor, Philip Lowe, told the House of Representatives Standing Committee on Economics that <a href="https://www.rba.gov.au/speeches/2019/sp-gov-2019-08-09" target="_blank">caps on public-sector wage increases</a> were part of the problem. This suggests the bank recognises there is an institutional element to the issue, though low wage growth is not just a public-sector problem.
Reserve blank
In April, the Reserve Bank <a href="https://www.rba.gov.au/publications/confs/2019/" target="_blank">held a conference</a> on low wages growth.
One of the papers, by staff in the Reserve Bank’s Economic Research Department, <a href="https://www.rba.gov.au/publications/rdp/2019/pdf/rdp2019-02.pdf" target="_blank">found</a> that union membership declines “are unlikely to account for much of the recent low wages growth”.
This finding was odd, because for decades economists have been <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/abs/10.1177/001979398203500306" target="_blank">writing about</a> how <a href="https://www.jstor.org/stable/pdf/1803398.pdf?refreqid=excelsior%3A5929b5c17d3b431fedbb6fe8909fdc00" target="_blank">unions have raised wages</a>, and how union decline is a factor in <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/full/10.1177/0003122411414817" target="_blank">rising inequality</a>.
In the past, Reserve Bank officials have complained that unions were too effective. In 1997, for example, the bank’s deputy governor worried about there being “<a href="https://www.rba.gov.au/speeches/1997/sp-dg-050997" target="_blank">excessive wage demands</a>”.
The paper from the bank’s Economic Research Department is based on analysing statistics from the federal government’s Workplace Agreements Database. It’s a very good database, but it does not contain data on union density (membership as a proportion of employment). So it cannot be used to test if declining union density is affecting wage outcomes.
Union density is <a href="https://www.jstor.org/stable/pdf/2296441.pdf?refreqid=excelsior%3A9304cd89d9549e806cbf33cc19465ec" target="_blank">far from being</a> a perfect measure of union power, but it is better than the proxies the paper uses.
In lieu of considering union density, the paper bases its conclusion on finding there has been no decline in the share of enterprise agreements negotiated with union involvement. It also finds wages in union agreements have continued to grow faster than wages in non-union agreements.
Neither of these findings proves wage stagnation is unconnected to declining union density. They only show that employees have even less bargaining power when they aren’t unionised.
We need stronger evidence than this to overturn decades of research showing unions raised wages.
Labour market monopsony
That said, the decline in union density is not the only issue. Changes to industrial relations laws have also made it harder for unions to obtain wage increases. Modelling the effects of such things is even harder for economists.
Research overseas points to local labour markets being <a href="https://www.nber.org/papers/w23108.pdf" target="_blank">increasingly dominated</a> by a small number of employers. The US National Bureau of Economic Research suggests wages in more concentrated labour markets are <a href="https://www.nber.org/papers/w24147.pdf" target="_blank">17% lower</a> than wages in less concentrated labour markets.
Tacit or explicit agreements between employers to not poach workers, and “non-compete” clauses being forced on even <a href="https://www.theamericanconservative.com/articles/the-case-against-non-competes/">low-skilled workers</a>, also shift power from employees to employers.
As the late Princeton University economist Alan Krueger <a href="https://www.kansascityfed.org/%7E/media/files/publicat/sympos/2018/papersandhandouts/824180824kruegerremarks.pdf?la=en" target="_blank">pointed out last year</a>, monopsony power – the power of buyers (employers) when there are only a few – has probably always existed in labour markets “but the forces that traditionally counterbalanced monopsony power and boosted worker bargaining power have eroded in recent decades”.
So yes, there are a number of reasons why workers have less power, and why wages growth is weaker, than in the past. Among them, though, we cannot ignore the critical fall in union bargaining power.<img src="https://counter.theconversation.com/content/122041/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;">
David Peetz, Professor of Employment Relations, Centre for Work, Organisation and Wellbeing, Griffith University.
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/theres-an-obvious-reason-wages-arent-growing-but-you-wont-hear-it-from-treasury-or-the-reserve-bank-122041" target="_blank">original article</a>.
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There’s an obvious reason wages aren’t growing, but you won’t hear it from Treasury or the Reserve Bank: David Peetz

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EXPERT OBSERVATION
We’ve entered out 29th year of uninterpreted economic growth. Continued good fortune will require harder decisions.
Official figures released Wednesday show the Australian economy growing at the <a href="https://theconversation.com/why-weve-the-weakest-economy-since-the-global-financial-crisis-with-few-clear-ways-out-122942" target="_blank">slowest pace since the financial crisis</a>.
GDP growth was only 0.5% for the June quarter, meaning that in the past year output grew by a feeble 1.4%.
The figures weren’t a surprise, but they do contain a message about what can go wrong.
Australia has enjoyed 28 years of uninterrupted economic growth, in part due to good management, in part due to good luck, and in part due to happy accidents of timing.
Good management
Credit has to be paid to the economic reforms of the Hawke-Keating era. Labor doesn’t talk about that legacy much these days, but it was a remarkable period of transformation.
From floating the Australian dollar and financial deregulation to the accord with trade unions, tariff reductions, and privatisation of state-owned enterprises, Hawke and Keating opened Australia to the world, and the world to Australia.
Without those reforms the Australian economy would look more like those of Italy, Spain, or Portugal.
And although John Howard was no pushover as a politician, he deserves credit for voting for economic reforms he believed in, even if Labor got the credit for implementing them.
It is worth remembering that there was a time, not so long ago, when politicians put country before party.
Good luck
We’ve also had some pretty good luck as a country. The most obvious piece of luck has been the economic awakening of China.
To have a billion people on our doorstep rapidly and radically transitioning from subsistence farming to sophisticated manufacturing and commerce, hungry for natural resources, sure helped.
Perhaps less obvious has been the rising importance of globally relevant cities around the world.
In his wonderful book, <a href="https://www.propertyobserver.com.au/https://www.amazon.com/Triumph-City-Greatest-Invention-Healthier/dp/0143120549" target="_blank">The Triumph of the City</a>, Harvard economics professor Ed Glaeser chronicles how, as he puts it, “cities magnify humanity’s strengths”.
Modern cities, thanks in part to information technology, spur innovation like never before. They bring talent together, serve as a cradle for entrepreneurship, and provide a vehicle for socioeconomic mobility.
Australia, as a highly urbanised country with two globally relevant cities in Sydney and Melbourne, as well as several other very important cities, has benefited from the triumph of the city more than most countries.
Great timing
But perhaps the greatest piece of good luck we’ve had was timing.
We now know that we live in a low-growth, low-inflation world, known as a secular-stagnation world. Former US Treasury Secretary <a href="https://www.youtube.com/watch?v=KYpVzBbQIX0" target="_blank">Larry Summers</a> says we might have been in one for many years but failed to notice.
In Summers’s telling, secular stagnation was masked in the United States by a massive housing bubble. In Australia it was masked by a housing bubble and a once-in-a century mining boom.
But more to the point, as housing and mining waxed and waned – as these things tend to do – one always seemed to be doing well just as the other was struggling, as the following chart shows:
Helpfully out of sync. Growth in mining output and property prices
<a href="https://images.theconversation.com/files/291063/original/file-20190905-175714-1kro0v6.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/291063/original/file-20190905-175714-1kro0v6.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Source: ABS
So, not only have we had a “China boom”, we’ve also had a “China hedge”: a source of economic growth not fully synced with, and at times offsetting, housing booms and busts.
What’s next?
In eulogising his brother Robert, <a href="https://americanrhetoric.com/speeches/ekennedytributetorfk" target="_blank">Edward Kennedy quoted from a speech</a> his brother gave in South Africa in 1966, in which he said:
"Our future may lie beyond our vision, but it is not completely beyond our control. It is the shaping impulse of America that neither fate nor nature nor the irresistible tides of history, but the work of our own hands, matched to reason and principle, that will determine our destiny."
There is pride in that, even arrogance, but there is also experience and truth. In any event, it is the only way we can live.
The same might be said of Australia.
We want to believe our national destiny will be shaped by good work, rather than good luck.
For that to be the case, we will need to have some hard discussions about the what government can and should do in the new low growth, low inflation secular-stagnation world.
Richard Holden, Professor of Economics, UNSW.
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/vital-signs-sure-economic-growth-is-low-but-think-about-whats-gone-right-122973" target="_blank">original article</a>.
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rh-YsoTT2xMuQ

Sure, economic growth is low, but think about what’s gone right: Richard Holden

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The Melbourne-based Impact Investment Group has decided to offload the Beach Hotel in Byron Bay.
JLL Hotels &amp; Hospitality Group has been exclusively appointed with expectations of a $100 million plus sale.
The ‘Beachie’, as it is often referred to, was built in the 1990s by long-time local John Cornell.
Located with over 100 metres frontage overlooking Byron’s Main Beach, the hotel spans a 4,585 sqm area and includes 25 newly-appointed luxury boutique hotel rooms and swimming pool.
<img src="https://www.urban.com.au/images/2019/9/10/Byron%20Bay%20Beach%20Hotel%203.JPG" alt="">
It also features a large pub with extensive beer gardens, restaurant, function spaces and bottle shop.
The business has been owned and run since 2007 by Melbourne restauranteurs and hospitality figures John and Lisa van Haandel.
The opportunity to operate the icon is now available for only the second time since it was built.
<img src="https://www.urban.com.au/images/2019/9/10/Byron%20Bay%20Beach%20Hotel%202.JPG" alt="">
The campaign will be managed by JLL’s National Director John Musca, supported by JLL boutique accommodation specialist Tom Gibson and Queensland Vice-President Tom Gleeson.
National and international expressions of interest will be sought with the process likely to start in October and conclude in November.
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Beach Hotel in Byron Bay listed with $100 million expectations

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The heritage-listed former home of Prahran’s renowned Jacques Reymond restaurant has been listed for sale.
Reymond, who owns <a href="https://www.commercialrealestate.com.au/property/78-williams-road-prahran-vic-3181-2015612121" target="_blank">the Victorian mansion at 78 Williams Road</a>, closed the doors of his restaurant in 2013 after a number of decades.
He entertained the likes of Elton John, Kylie and Danni Minogue, Michael Schumacher and Cliff Richard.
It became Woodland House, the two-hatted fine dining restaurant ran by Thomas Woods and Hayden McFarland, in 2014.
They bought out Reymond, who was their mentor, but were forced to appoint liquidators earlier this year.
In the 1980s it was home to highly regarded restaurant Allison's.
<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/2019/9/11/Jacques%20Reymond%20PRAHRAN%202.jpg" alt="">
Colliers International’s Guy Wells, Ben Baines and Alex Browne are marketing the 1,010 sqm property with a $4.1 million to $4.51 million guide.
The grand gold-rush era property was originally constructed as one of two identical residences in the 1880s as a wedding gift to the owner's daughter. The Reymond family paid $1 million back in 1993.
The neighbouring property is a four bedroom home with formal dining room, living room and ground floor kitchen area.
“Offering rich history and endless charm, this is a rare opportunity to acquire one of Melbourne’s most recognizable buildings and influence the next chapter of this iconic property’s outstanding story," Wells said.
“The property, with its heritage façade, expansive rooms, abundant natural light and high quality improvements, offers a wide range of potential future uses.
<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/2019/9/11/Jacques%20Reymond%20PRAHRAN%201.jpg" alt="">
Wells suggested 78 Williams would suit a conversion back to a grand residential property with its high ceilings, large land holding and surrounding proximity to prestigious schools, major arterials, parklands and retail amenity.
Wells also suggested the building could suit medical offices, as well as having the potential to be converted in to heritage apartments within the existing envelope.
 
 
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Former Prahran home of award-winning Jacques Reymond restaurant hits the market

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A premium commercial space on Woollahra's pricey Queen Street has sold this morning under the hammer for $15.1 million.
The street level of <a href="https://www.realcommercial.com.au/property-retail-nsw-woollahra-503298542" target="_blank">80-82 Queen Street</a> is occupied by linen store Polite Society and kitchen supply store The Bay Tree.
Jocelyn Petroni &amp; Roth Architects take both of the first level office tenancies. The current net income $477,000 per annum (approx).
It was sold by Pozetu Pty Ltd, directed by Sam Ballas, the polo playing property developer.
<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/2019/8/27/80-82%20Queen%20Street%201.jpg" alt="">
The building, spanning three street frontages on 405 sqm, is bound by Queen Street at the front, Halls Lane at the side and Smith Street at the rear. 
Ray White Woollahra agent Ben Vaughan sold the property in conjunction with Confidence Property's Bryce Ibrahim.
There were eight registered parties, although only two got to bid after the opening $12 million offer. A caveat on the title was subsequently registered by Backas Pty Ltd, a company directed the Maple-Brown family, founders of Rockend.
Down the road a <a href="/expert-insights/investing/gutted-queen-street-woollahra-shop-listed-for-sale">gutted shop at 148 Queen</a>, along with 146, sold a week before its scheduled Savills auction for around $5.6 million in conjunction with Raine &amp; Horne Double Bay's Peter Starr.
It had previously been the home of the DeCosti seafood shop.
 
 
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