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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EXPERT OBSERVER
The pre-election negativity that hit real estate in the first half of 2019 impacted previously busy Regional NSW markets, with the lowest number of growth markets in two years. It nevertheless remains one of the nation’s busiest market jurisdictions. 
And price performance has been good in many locations, with 60% of Regional NSW markets delivering median price growth in the past 12 months.
Regional NSW continues to provide a stark contrast to Sydney. While many sectors of the Sydney market have been in decline, the cities and towns of Regional NSW have proved resilient – even though not as strong as in 2018.
Last year Hotspotting’s Spring 2018 survey found 70 locations with rising demand in Regional NSW and the Autumn 2019 identified 61 growth markets. But this latest Winter 2019 found only 40 growth markets – still solid by national standards but well down on the levels of the past year or two.
The sales data on which this survey is based pre-dates the Federal Election in mid-May and the subsequent positive events such as interest rate reductions, easier finance (the APRA changes) and the tax cuts.
So any locations that delivered rising sales activity in that pre-election climate have strong claims to being regarded as growth markets.
There are still growth markets in and around Newcastle (pictured above), although this market overall appears well past its peak. The Newcastle and Lake Macquarie LGAs both have suburbs with growing sales demand, but they are outnumbered by plateau markets.
But locations near Newcastle, such as the Port Stephens LGA, remain buoyant, led by Anna Bay, Medowie and Salamander Bay. Some sections of the Hunter Valley still have momentum, including Cessnock and Muswellbrook.
The same cannot be said for the Central Coast. Two years ago, this was the strongest market in NSW but it’s now well past its peak. Bateau Bay and Budgewoi still have some forward momentum, but the Central Coast now has 19 plateau markets and seven we classify as declining markets (including Toukley, Gwandalan, North Gosford, Point Frederick, San Remo and The Entrance). We note also the decline in median prices in many Central Coast locations.
Similarly, other regional centres close to Sydney have passed their peaks and started to decline, including Wollongong, the Southern Highlands and the Blue Mountains (although Katoomba remains busy). The Byron Bay market is another to have lost its mojo.
The growth markets in Regional NSW are now found further afield. The Tweed LGA at the Queensland border is particularly busy at the moment, headed by Casuarina, Kingscliff and Terranora. Quarterly sales in Kingscliff have been 59, 61, 67 and 70 – and its median house price has risen 19% to $1,025,000.
At the other end of the state, Wagga Wagga continues to be a market leader, led by upwardly mobile suburbs like Gobbagombalin, Kooringal and Lake Albert. Quarterly sales in Wagga Wagga (the suburb) have been 37, 39, 48 and 50 in the past 12 months – and its median price has started to rise, up 4% in the past 12 months.
And the Eurobodalla LGA in the South Coast region has some busy markets, notably Catalina and Malua Bay.
A large number of smaller and distant regional centres have growth markets, including Grafton, Forbes, Griffith, Wingham, Mudgee and Gulgong in the Mid Western LGA, Leeton, Lismore, Nambucca Heads and Young.
There has been plenty of price growth in Regional NSW markets, though not as prolific as in our previous survey.
Three months in our Autumn 2019 report we commented: “The vast majority of NSW Regional markets have price levels higher than 12 months ago – 85% of the locations in our survey have recorded growth in the past year.”
This Winter 2019 survey finds that 61% of house markets and 53% of unit markets have median prices higher than a year ago. 
Locations with strong price growth include three locations in the Tweed LGA – Casuarina (up 21% to $1,150,000), Kingscliff (up 19% to $1,025,000) and Tweed Heads South (up 15% to $585,000).
But the biggest growth has been recorded by Berry in the Shoalhaven region, up 25% to $1,300,000.
A number of apartment markets have recorded median price growth above 20%, including Nambucca Heads, Ballina, Sawtell and Taree.
At the other end of the scale, many Central Coast locations have recorded declines in their median prices. House markets to fall include those in Wyoming (8%), Woy Woy (5%), Umina Beach (6%), North Gosford (7%), Long Jetty (9%), Wyong (6%) and Gorokan (8%). 
Among the apartment markets, those to drop include Woy Woy (6%), Toukley (9%), Umina Beach (9%), East Gosford (12%), Gorokan (8%), Terrigal (6%) and Berkeley Vale (19%).
Some of key markets in Wingecarribee LGA in the Southern Highlands region have dropped also, including Bowral (6%) and Mittagong (10%).
Suffolk Park at Byron Bay has recorded a 17% fall in its median house price to $1,050,000.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

2019 property price growth markets in Regional NSW are now found further afield: Hotspotting's Terry Ryder

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The KFC in Mentone, south-east of Melbourne, has been listed for sale.
The property at <a href="http://commercialpropertysearch.savills.com.au/2a91c294-1680-e911-80db-005056813885/Sale/Mentone/157-159-Nepean-Hwy" target="_blank">157-159 Nepean Highway</a>, 21 kilometres from the Melbourne CBD, last sold under the hammer at an auction event at the Crown Casino in 2013.
It was pushed to $3,505,000 by two Asian investors after bidding opened at $2.8 million.
The rental income has increased since its sale six years ago when it sold on a gross yield of around 6.5% based on rent of around $227,167 per annum.
Now it is being offered, on a 12 year term with options extending to 2043, with a return of $262,836 per annum.
Over 57,000 cars pass the 2,360 sqm site daily that is zoned Commercial 1. There are 35 on site car parking spaces.
When it traded in 2013 it had had a $350,000 upgrade.
Savills agents Benson Zhou, Yvonne Zhou and Julian Heatherich are marketing the property that has been home to KFC for around 25 years.
 
 
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KFC Mentone up for sale

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Mirvac Group and co-owner Suntec Real Estate Investment Trust have announced the topping out and completion of the main structural works at its Melbourne project Olderfleet.
The 38-level building at 477 Collins Street, Melbourne consists of 58,000 square metres of premium-grade office and retail space and was designed by Grimshaw. 
Mirvac’s General Manager, Development, Simon Healy, said the project had topped out on time, with practical completion expected in mid-2020. 
“This milestone marks another achievement for Olderfleet, which has seen strong interest from our tenants with a range of high calibre brands pre-committed, bringing the tower to 94% leased,” Healy said.
“Mirvac’s vision to create one of Australia’s leading smart buildings, rising out of the heritage façade at Olderfleet, has struck a chord with the Melbourne market.
“Set to become an exemplar of modern working environments, the building integrates leading technology, sustainability and amenities that will include a wellness offering and childcare centre.”  
Brands already committed include Norton Rose Fulbright, Lander &amp; Rogers, Urbis and anchor tenant Deloitte.
“Olderfleet presents a rare opportunity for premium office space in the tightening Melbourne rental market,” Healy said.
“Since Mirvac’s construction commencement, there has been a surge of interest in the midtown area of the CBD, with the precinct surrounding Olderfleet coming to life with restaurants, bars, shopping, and health and wellbeing facilities for workers and the community. 
“Mirvac has a pipeline of projects in Melbourne including 383 La Trobe Street.
“This future, next generation office tower provides yet another opportunity for Mirvac to set new benchmarks in workplace design and contribute to the dynamic and evolving urban landscape within the Melbourne CBD.”
Mirvac has already pre-committed two of the five retail spaces at the Olderfleet building and has had strong enquiries for the remaining spaces, including a foyer café, two-level tenancy at the heritage entrance and a laneway offering on Flinders Lane, Healy said.
Deloitte’s Managing Partner, Victoria, Paul Rehder said: “We’re really excited to reach this key milestone for our new home at 477 Collins Street– a workplace signalling Deloitte’s position as the undisputed leader in professional services and a magnet for what we can offer clients and employees, both professionally and personally.  
“The future of work is moving towards human-centred, technologically driven workplaces – trends that reflect the convergence of work and life to enhance employee wellbeing.
“The building is purposefully designed to encourage co-creation and innovation, and it will set a new standard for employee experience as the way our people work becomes more automated, agile and collaborative.” 
Lander &amp; Rogers’ Chief Executive Partner, Genevieve Collins, said: “Innovation and technology are transforming the legal profession and this provides an exciting opportunity for firms that are prepared to seize it. 
“This involves more than simply investing in IT infrastructure: we need to evolve how we work – with our clients, each other, and within our broader community.
"Internally, our people tell us they want an environment that accommodates complete mobility.
“They want areas for digital and face-to-face collaboration as well as spaces conducive to individual focus.
“An agile, connected workplace is at the very core of Lander &amp; Rogers' long-term strategy and our move to 477 Collins will help us fully realise that." 
Olderfleet is committed to a 5 Star Green Star rating, a 5 Star NABERS energy rating and a Platinum WELL Certification.
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Mirvac and Suntec's Olderfleet Melbourne project tops out

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Dual lots in the north Brisbane suburb of Northgate have been bought by a private syndicate for $2.4 million.
Lot 2 and Lot 3 at 62 Crockford Street came with a combined 4,000 square metres of land area and General Industry (A) Zoning.
The off-market deal was negotiated and secured by Ray White Commercial Queensland Director – Brokerage Services Paul Anderson and Senior Sales and Leasing Executives Aaron Aleckson and Andrew Doyle.
<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/2019/8/1/Aerial%202%20%203%20-%2062%20Crockford%20Street%20-%20Zoom%20out.jpg" alt="">
Anderson said the lots were sold by vendor Chuan Xin Pty Ltd with a sales rate of $600per square metre, plus GST.
“The initial sales a couple of years ago were in the low $400s, and last year, all the sales were in the $500s,” Anderson said.
“On reflection, the market has priced-in the limited supply, as there really isn't any small industrial lots available in the entire precinct now."
Aleckson said the buyers have already approached architects and had plans in place for the site’s future development.
“This will be a premium industrial project, tailored to meet the needs of corporate occupiers,” Aleckson said.
Doyle said the strategic location of Northgate was an attraction to various prospective buyers.
“It offers the many benefits associated with being right on the Gateway Motorway, with easy access to Brisbane Airport, the CBD and Airport Link Tunnel network,” Doyle.
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Dual Northgate lots sold for $2.4 million to syndicate 

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Trinity Village shopping centre in Perth’s north western suburb of Alkimos has sold for $34.05 million.
The neighbourhood shopping centre has a net lettable area of 6,081 square metres and is anchored by Coles on a long 15-year lease.
There are also 16 specialty tenants, including a Shell service station, medical centre and childcare centre.  
Trinity Village was sold at a rate of $5,599 per square metre at a 5.84% yield to a private local investor.
The architecturally designed centre was completed in 2018 and was sold by a syndicate of developers. 
<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/2019/8/1/PB_TRINITY_045.jpg" alt="" style="font-size: 12.16px;">
CBRE’s Richard Cash and Anthony Del Borrello of its Western Australian Retail Investments team negotiated the sale. 
Del Borrello said that after a five-week International Expressions of Interest Campaign, the property had garnered 86 enquiries and seven offers from a mix of local and east coast investors and offshore groups.  
“Insulation from economic fluctuations and the impact of online retail sales has also contributed to high demand for non-discretionary and service based neighbourhood shopping centres,” he said.
Cash said that this was the sixth neighbourhood shopping centre sale in WA in 2019, with a total transaction volume of over $100 million.  
“In the face of negative sentiments surrounding the retail investment market, we have already seen three transactions and $45 million more than this time last year and the average yield has tightened to 6.19%,” Cash said.
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Trinity Village shopping centre in Perth sells for $34 million

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One of Australia’s largest industrial trade tools retailers, Sydney Tools, is seeking to lease 80,000 square metres of industrial retail space across the country in the next five years.
It is in the part of the the group's national expansion program of its bricks and mortar retail megastores.
"We are seeking to commit to leases of terms of up to 10 years," Sydney Tools Director Jason Bey said.
The privately owned company has grown its share of the trade tools market by stocking a range which now spans more than 11,000 stock-keeping units.
Established in 2001, Sydney Tools is an Australian family owned company and currently operating 31 stores along the eastern seaboard in NSW, ACT, Queensland and Victoria.
<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/2019/8/5/Sydney%20Tools_2.jpg" alt="">
It plans to double its eastern seaboard footprint and expand into other states including Tasmania, South Australia and Western Australia.
The company holds a footprint of approximately 60,000 square metres across the 31 current stores. 
Bey said more than 94% of revenue was generated through their bricks and mortar retail outlets.
Spending on major infrastructure projects particularly in NSW, Victoria and Queensland is driving ongoing demand for capital equipment, accessories and hand tools, Bey said.
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Sydney Tools to more than double retail footprint in expansion move

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The first stage of development within Marina Village Martha Cove, Victoria’s newest bayside town centre, is now complete.
The first stage, dubbed The Moorings, is designed by Karl Fender of Fender Katsalidis and developed by the Balmain Group. It is located at the base of Mount Martha on the eastern shores of Port Phillip Bay.
The Moorings comprises a residential building of 43 two, three and four bedroom apartments, with Martha's Table, a restaurant, bar, grocer and cellar occupying the ground level.
Martha's Table is set to open in early spring.
Murry Offord, head of asset management as Balmain Group, says a key priority has been to work with a tier-one design team in order to deliver a market-leading town centre which sets a new standard for Martha Cove.
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“As our first project within the town centre, The Moorings is an iconic building in terms of design and what it means for the evolution of the area," Offord said.
"We have worked closely with our urban planners, architects, designers, builders and landscapers to ensure that the final design not only respects its surrounds but offers something special that people want to be a part of.
<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/2019/8/5/Martha%20Cove.jpg" alt="">
“The completion of Marina Plaza and The Moorings has delivered what we set out to achieve – creating a community and lifestyle that will be the envy of the Mornington Peninsula.”
The project is almost 70 percent sold.
Marina Village Martha Cove has 300 marina berths and a full-service boatyard, including a 300-boat dry stack facility with concierge and valet services.
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Over 40 per cent of The Moorings’ buyers have also purchased a 99-year marina berth lease.
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Architect Karl Fender describes the town centre as “a habitat of modern lifestyle inspired by the spirit of the Mornington Peninsula.”
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“It really is a haven for boat owners. There aren’t many places where you can live in an architecturally designed apartment and tie your boat up in your front yard,” says Offord. 
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“We’re proud to see the town centre becoming a reality. It is a project that combines the best of contemporary placemaking and the aesthetics of the peninsula. We look forward to opening Martha’s Table and launching our next residential projects later this year,” Offord adds.
 
Balmain Group acquired the site, the only waterfront retail and residential masterplanned estate on the peninsula, from receivers in 2015.
They redeveloped the masterplan to create Marina Village Martha Cove, which was approved at the end of 2016.
 
 
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The Mornington Peninsula's newest town centre, Marina Village Martha Cove, starts to take shape

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EXPERT OBSERVER 
There are significant dangers in making generalisations on consumer spending. Sales of shoes and chemist items are solid. But the home building slowdown is weighing on sales of hardware and garden items while Aussie families are still cutting back on newspapers and books. Prices are rising sharply at food stores with the drought a key influence. But prices of shoes and electrical items are still cheaper than a year ago.
Overall, sales of retail goods continue to slow. One reason is higher retail inflation – the highest in a decade. But there is also the ongoing switch to services like health, education and tourism. Aussies still enjoy going out to cafes and restaurants. Meanwhile Aussie consumers outlay more on insurance, utilities and housing.
For the full 2018/19 year, Aussies spent 3 per cent more at retail outlets. They bought 1.3 per cent more goods and services while prices rose by 1.8 per cent over the year.
Are Aussie families living more simply? Perhaps. But it may also be the case that the significant uncertainty about the May election caused consumers to make a key tactical retreat. The encouraging 0.4 per cent lift in June spending may signify the return of the Aussie consumer.
Retail trade – June
Retail trade rose by 0.4 per cent in June after a 0.1 per cent increase in May. Annual growth rose from 2.4 per cent to 2.5 per cent. Non-food retailing rose by 0.5 per cent in June, and annual growth lifted from 1.8 per cent to 2.2 per cent.
Sales by chain-store retailers and other large retailers rose by 0.7 per cent in June after a 0.1 per cent increase in May to stand 3.9 per cent higher over the year.
Spending rose most in June in Clothing retailing (up 2.0 per cent); Footwear (up 1.9 per cent); Newspaper and book retailing (up 1.8 per cent) and Takeaway food (up 1.6 per cent). Nine of 15 retail categories rose in June.
Spending fell the most for Specialised food – butchers, bakers, fruit etc. (down 3.8 per cent) and Department stores and Hardware, building and garden supplies (both down 0.6 per cent).
Across states/territories: NSW (up 0.3 per cent); Victoria (up 0.3 per cent); Queensland (up 0.4 per cent); South Australia (down 0.3 per cent); Western Australia (up 0.8 per cent), Tasmania (up 1.5 per cent); Northern Territory (down 0.2 per cent); ACT (up 0.3 per cent).
Retail trade – June quarter
In real (inflation-adjusted) terms, retail trade rose by 0.2 per cent in the June quarter after a 0.1 per cent fall in the March quarter. Annual growth slowed to 0.2 per cent – the slowest since June quarter 1991 (28 years).
Eleven of the 15 retail categories showed growth in the June quarter.
Strongest gains were by Footwear &amp; Other Personal Accessory (up 1.5 per cent) from Department stores and Electrical, Electronic &amp; Gas Goods (both up 1.4 per cent).
Biggest falls were by Hardware, Building &amp; Garden Supplies (down 1.9 per cent), Newspapers and Books (down 1.7 per cent); and Supermarkets and Grocery Stores (down 0.6 per cent).
Prices across retailers rose by 0.4 per cent in the June quarter after a 0.8 per cent rise in the March quarter. Annual growth of retail prices lifted from 2.0 per cent to a decade high of 2.4 per cent.
Prices rose most in the June quarter in Pharmaceutical Cosmetic and Toiletry (up 1.3 per cent); Hardware, Building &amp; Garden Supplies and Newspapers and Books (both up 1.0 per cent).
In the June quarter there was still deflation in Electrical, Electronic &amp; Gas Goods (prices down 1.2 per cent); Footwear &amp; Other Personal Accessory (down 0.6 per cent); and Furniture, Floorcovering and Textile Goods (down 0.1 per cent).
What are the implications for interest rates and investors?
The Reserve Bank would do well to hold fire on future rate cuts until it assesses more evidence. The latest data shows higher prices and higher spending at a retail level. We do know that home prices are stabilising and that the sharemarket is only slightly down from record levels after reaching new peaks on Tuesday. There are also signs that employers are hiring again.
David Jones believes retailing is in recession. The timing of the comments wasn’t good – real department store sales rose by a solid 1.4 per cent in the June quarter.
The 0.7 per cent real decline in spending at Supermarkets &amp; grocery stores is remarkable. Cafes &amp; restaurants and takeaway outlets are doing better. Also of note, Marley Spoon has just released solid results.
CRAIG JAMES is the Chief Economist at CommSec
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Slowest retail spending in 28 years: CommSec's Craig James

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GUEST OBSERVATION
Deloitte Access Economics <a href="https://www2.deloitte.com/au/en/pages/economics/articles/great-barrier-reef" target="_blank">has valued</a> the Great Barrier Reef at A$56 billion, with an economic contribution of A$6.4 billion per year. Yet this figure grossly underestimates the value of the reef, as it mainly focuses on tourism and the reef’s role as an Australian icon.
When you include aspects of the reef that the report excludes, such as the ecosystem services provided by coral reefs, you find that the reef is priceless.
Putting a price on the Great Barrier Reef buys into the notion that a cost-benefit analysis is the right way to make decisions on policies and projects that may affect the reef. For example, the environmental cost of the extension to the <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2015-12-22/massive-abbot-point-coal-port-expansion-gets-federal-approval/7047380" target="_blank">Abbot Point coal terminal</a> can be compared to any economic benefits.
But as the reef is both priceless and irreplaceable, this is the wrong approach. Instead, the <a href="http://unesdoc.unesco.org/images/0013/001395/139578e.pdf" target="_blank">precautionary principle</a> should be used to make decisions regarding the reef. Policies and projects that may damage the reef cannot go ahead.
How do you value the Great Barrier Reef?
The Deloitte report uses what’s known as a “contingent valuation” approach. This is a survey-based methodology, and is commonly used to measure the value of non-market environmental assets such as <a href="http://www.appstate.edu/%7Ewhiteheadjc/eco3620/projects/mocktrial/pdf/loomisandwhite-ee-1996.pdf" target="_blank">endangered species</a> and <a href="http://www.jstor.org/stable/pdf/2663496.pdf" target="_blank">national parks</a> – as well as to calculate the impact of events such as <a href="http://econweb.ucsd.edu/%7Ercarson/papers/AlaskaReport.pdf" target="_blank">oil spills</a>.
In valuing the reef, surveys were used to elicit people’s willingness to pay for it, such as through a tax or levy. This was found to be A$67.60 per person per year. The report also uses the travel-cost method, which estimates willingness to pay for the Great Barrier Reef, based on the time and money that people spend to visit it. Again, this is commonly used in environmental economics to value national parks and the recreational value of local lakes.
Of course, all methods of valuing environmental assets have limitations. For example, it is difficult to make sure that respondents are stating realistic amounts in their willingness to pay. Respondents may act strategically if they think they really will be slugged with a Great Barrier Reef levy. They may conflate this environmental issue with all environmental issues.
But more importantly, the methodology in the report leaves out the most important non-market value that the reef provides, which are called <a href="http://www.environment.gov.au/biodiversity/publications/ecosystem-services-key-concepts-and-applications" target="_blank">ecosystem services</a>. For example, coral reefs provide storm protection and erosion protection, and they are the nurseries for 25% of all marine animals which themselves have commercial and existence value.
The Deloitte report even cites (but does not reference) a <a href="http://www.sciencedirect.com/science/article/pii/S0959378014000685" target="_blank">2014 study</a> that values the ecosystem services provided by coral reefs at US$352,249 per hectare per year. The Great Barrier Reef Marine Park <a href="https://www.npsr.qld.gov.au/world-heritage-areas/great_barrier_reef" target="_blank">covers 35 million hectares</a> with 2,900 individual reefs of varying sizes. This means the ecosystem services it provides are worth trillions of dollars per year.
That is, it is essentially priceless.
The problem with putting a value on the Reef
Valuing the environment at all is <a href="https://www.theguardian.com/environment/georgemonbiot/2014/jul/24/price-nature-neoliberal-capital-road-ruin" target="_blank">contentious</a> in <a href="http://www.sciencedirect.com/science/article/pii/S0095069684710084" target="_blank">economics</a>. Valuation is performed so that all impacts from, say, a new development, can be expressed in a common metric – in this case dollars. This allows a cost-benefit analysis to be performed.
But putting a price on the Great Barrier Reef hides the fact that it is irreplaceable, and as such its value is not <a href="http://le.uwpress.org/content/82/2/141.short" target="_blank">commensurate</a> with the values of other assets. For instance, using Deloitte’s figure, The Australian newspaper <a href="http://www.theaustralian.com.au/national-affairs/great-barrier-reef-valued-at-more-than-12-opera-houses-study/news-story/33e7f7420e2b41bf9efd6a4aa6e3351b">compared the reef</a> to the value of 12 Sydney Opera Houses. But while they are both icons, the Opera House can be rebuilt. The Great Barrier Reef cannot. Any loss is irreversible.
When environmental assets are irreplaceable and their loss irreversible, a more appropriate decision-making framework is the <a href="http://unesdoc.unesco.org/images/0013/001395/139578e.pdf" target="_blank">Precautionary Principle</a>.
The Precautionary Principle suggests that when there is uncertainty regarding the impacts of a new development on an environmental asset, decision makers should be cautious and minimise the maximum loss. For example, if it is even remotely possible that the extension to the Abbot Point coal terminal could lead to <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2015-12-22/massive-abbot-point-coal-port-expansion-gets-federal-approval/7047380" target="_blank">massive destruction</a> of the reef, then precaution suggests that it shouldn’t go ahead.
Assigning a value to the reef might still be appropriate under the Precautionary Principle, to estimate the maximum loss. But it would require the pricing of all values and especially ecosystem services.
While the Precautionary Principle has been <a href="http://www.public.iastate.edu/%7Ejwcwolf/Papers/Gardiner%20on%20Precautionary%20Principle.pdf" target="_blank">much maligned</a> due to its perceived bias against development, it is a key element of the definition of Ecologically Sustainable Development in Australia’s <a href="https://www.legislation.gov.au/Details/C2012C00801" target="_blank">Environment Protection and Biodiversity Conservation Act 1999</a>.
For a priceless asset like the Great Barrier Reef, it is perhaps better to leave it as “priceless” and to act accordingly. After all, if the Precautionary Principle is ever going to be used when assessing Ecologically Sustainable Development, in contrast with cost-benefit analysis and valuations, it is surely for our main environmental icon.
Ultimately, the protection and prioritisation of the Great Barrier Reef is a political issue that requires political will, and not one that can be solved by pricing and economics.<img src="https://counter.theconversation.com/content/80061/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;">
Neil Perry, Research Lecturer, Western Sydney 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/whats-the-economic-value-of-the-great-barrier-reef-its-priceless-80061" target="_blank">original article</a>.
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What's the economic value of the Great Barrier Reef? It's priceless

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Introduction
A common concern ever since the Global Financial Crisis (GFC) ended a decade ago is that the next recession is imminent.
This concern has become more pronounced recently as yield curves – ie the gap between long-term bond yields and short-term borrowing rates - have inverted (or gone negative) as in the US.
This concern has taken on added currency now that the US economic expansion is the longest on record. Surely it must be living on borrowed time?
This matters a lot. The US is the world’s biggest economy in US dollar terms (at 24% of world GDP), its share market is around 56% of global share market capitalisation and being central to the world’s financial system it sets the direction for global share markets, including Australia’s.
What’s more, while share corrections (say falls of 5-15%) and even mild bear markets (with say a 20% decline that turns around quickly) are common, the key driver of whether they turn into a major bear market (where shares fall 20% and a year later are down another 20% or so like in the GFC) is whether we see a recession or not –notably in the US (see the table in Correction time for shares?).
So, whether a US recession is imminent or not is critically important in terms of whether a major bear market is imminent.
Longest but not the strongest
The cyclical bull market in US shares is now over 10 years old. This makes it the longest since WW2 and the second strongest in terms of percentage gain. And according to the US National Bureau of Economic Research the current US economic expansion that started in June 2009 is now 121 months old and compares to an average expansion of 58 months since 1945.
This makes it the longest on record (since 1854). See the next two tables. But it’s noteworthy that it’s not the strongest.
In fact, GDP and employment growth through this expansion have averaged around half that seen in the average post war expansion. Both have been the second weakest.
<a href="https://www.propertyobserver.com.au/images/2019/7/24/amp%201.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/2019/7/24/amp%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/24/amp%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/2019/7/24/amp%202.jpg" alt=""> 
Absence of excess
Numerous growth slowdowns and recession scares – notably around 2011-12, 2015-16 and since last year - and post GFC caution have kept this expansion slow.
A key lesson of past economic expansions is that “they do not die of old age, but of exhaustion”.
The length of economic expansions depends on how quickly recovery proceeds, excess builds up, inflation rises and the central bank tightens.
The current US economic expansion may be long, but it has been slow. As a result, it’s been taking longer than normal for excesses that precede recessions – around cyclical spending, debt and inflation - to build up.
First, cyclical spending in the US as a share of GDP remains low. In particular, there has been no “boom” in spending on consumer durables, business or housing investment resulting in a glut that needs to be worked off as occurred prior to all of the recessions in the last 50 years. All are around or below long-term averages as a share of GDP, in contrast to highs seen prior to past recessions. Basically, no boom = no bust!
<a href="https://www.propertyobserver.com.au/images/2019/7/24/us%201.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/2019/7/24/us%201.jpg" alt="">
Second, growth in private sector debt has been modest and well below the surge seen prior to the recessions of the early 1990s, early 2000s and 2008-09 as household debt growth has been weak. While corporate debt is up, the ratio of profits to interest payments is well above average and the ratio of corporate debt to assets is low. (Yes, public debt to GDP in the US is a concern but high public debt has not been a precursor to recession and the public sector’s taxing and money printing abilities mean it’s a totally different risk to excessive private debt.)
Finally, there is no sign of the surge in inflation that traditionally precedes recessions. Sure, the labour market has been flashing warning signs with unemployment and underemployment having fallen sharply, warning of a wages breakout and inflation pressure.
<a href="https://www.propertyobserver.com.au/images/2019/7/24/us%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/2019/7/24/us%202.jpg" alt="">
However, there is arguably still spare capacity in the US labour market (the participation rate has yet to see a normal cyclical rise) and wages growth around 3% remains very low.
The last three recessions were preceded by wages growth above 4%. And industrial capacity utilisation at 78% is well below levels that in the past have shown excess and preceded recessions.
Reflecting this, along with intense competition which has been accentuated by technological innovation, core inflation has fallen below target.
<a href="https://www.propertyobserver.com.au/images/2019/7/24/us%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/2019/7/24/us%203.jpg" alt="">
So, while the Fed has raised interest rates since late 2015 it has not slammed the brakes on with tight monetary policy.
Past US recessions have been preceded by the Fed Funds rates being well above inflation and nominal growth, whereas that’s not the case now. See the last chart. And given perceived risks to growth and the concern that it will be easier to deal with a rise in inflation than deflation, the Fed is now moving to cut rates again anyway.
The bottom line is that the excesses that normally precede US recessions – a spending boom, surging private debt and/or rising inflation/tight monetary policy – are absent.
So while US economic expansion may be long in the tooth it’s far from exhausted.
But what about the inverted yield curve?
The inverted US yield curve that started in the last few months is certainly a concern as they have preceded past US recessions.
<a href="https://www.propertyobserver.com.au/images/2019/7/24/us%204.png" target="_blank">Click here</a> to enlarge:
<img src="https://www.urban.com.au/images/2019/7/24/us%204.png" alt="">
However, there are several reasons not to be too concerned. First, the lag from yield curve inversion to recession averages around 15 months (which takes us to second half next year), there have been numerous false signals and following yield curve inversions in 1989, 1998 and 2006 shares actually rallied.
Second, various factors may be inverting the yield curve unrelated to growth expectations including still falling long-term inflation expectations, low German and Japanese bond yields and higher levels of investor demand for bonds post the GFC as they have proven to be a good diversifier to shares in times of crisis. Third, the retreat from monetary tightening has been a factor behind the rally in bonds but this is positive for growth.
Finally, other indicators are not pointing to imminent recession – as noted above we have not seen the sort of excess that normally precedes recession.
The bottom line
Issues around the trade war and tensions with Iran certainly pose a risk to US growth and could drive short term volatility in share markets.
But the combination of easing monetary conditions globally, the removal of caps on US Government spending for next year (which threatened a mini “fiscal cliff”) as part of a deal to suspend the debt ceiling and the absence of the excesses that contribute to recessions would suggest that US - and hence global and Australian - shares are likely to be higher in 6-12 months’ time.
Shares up and bond yields down – which is right?
This brings us back a puzzle that has worried some this year: share markets are up but bond yields are down...surely one market must be wrong?
But this occasionally happens in the investment cycle. Basically, shares having fallen last year on growth fears are looking through short-term growth uncertainties and focusing on lower for longer interest rates and bond yields making shares relatively cheaper and the likelihood that monetary and fiscal stimulus will ultimately boost economic growth.
By contrast bonds have been focussing on falling inflation and lower for longer short-term interest rates.
So, there is logic behind both shares and bonds rallying at the same time. Ultimately though if global growth picks up over the next 12 months, bond yields will start to rise again – but it’s likely to remain gradual and constrained.
Dr Shane Oliver is Head of Investment Strategy and Chief Economist AMP Capital.
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