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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iProsperity has officially opened the first phase of a strategic co-operation agreement with “KUR-World Ecotourism Resort Center” in the Cairns region of Australia.
The agreement is the latest sign of iProsperity's continued investment in the Australian tourism market.
Regarding the strategic partnership with KUR-World Ecotourism Resort Center, Mr. Michael Gu, CEO and founder said, “the co-operation between iProsperity and KUR-World will focus on the field of luxury experiential accommodation."
"Simultaneously, this investment will be combined with iProsperity’s existing Australian high-yield return hotel portfolio to deal with the changing commercial property environment.” 
KUR-World, a large integrated resort in the Kurunda tropical rainforest of Cairns, Australia, is a low-density eco-tourism resort located on approx 630 hectares.
It integrates the existing tropical rainforest and Australian pastoral natural resources.
The project is planned to be completed by 2025, with the first phase of “KUR Cow” now open. It combines the Australian tropical rainforest and cultural experience within five themed scenic spots. This has resulted in an exciting experience combining a leading “wagyu” culture and outdoor sporting complex area.
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First phase of new tourist investment collaboration KUR-World opens in Australia 

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EXPERT OBSERVER
Since the federal election there appears to have been some strength returning to the housing market.  A number of factors have contributed to this apparent improvement in housing confidence, including:
1.       An unexpected election win to the Coalition.  Typically a change of government wouldn’t have too much of an impact on housing sentiment however, the Labor opposition took to the election some policies which would have influenced the market, particularly the investor segment.  Specifically these were reforms to negative gearing which would have seen this taxation policy reserved for new dwellings only (with grandfathering provisions for current investment property owners) as well as a halving of capital gains discounts.
2.       Two 25 basis point cuts to official interest rates.  Since the election, the Reserve Bank has now cut official interest rates in both June and July by 25 basis points.  While lower interest rates signal a requirement for economic stimulus, for mortgage holders lower rates mean cheaper mortgages if they refinance, a potential to reduce repayment amounts or paying off more of the principal component if they choose to make no changes to their mortgage.
3.       The Australian Prudential Regulation Authority (APRA) has proposed amending guidance on mortgage lending.  Since the inception of macroprudential tools in December 2014, APRA has required lenders to assess the ability of borrowers to repay their mortgage at either an interest rate of above 7% (typically 7.25%) or a buffer of 2% over the loans interest rate, whichever is the larger.  With mortgage rates the lowest they have been since the 1960s the buffer has become restrictive and APRA is now proposing to remove the 7% benchmark and change the requirement to an interest rate buffer of 2.5% above the loans interest rate.
The federal election was held on the 18 May and the result was known that evening.   APRA published their proposal to amend their guidance on mortgage lending on 21 May and was given the go-ahead by APRA on 5 July and the first of the two cuts to the cash rates occurred on 4 June.  The week following the election, auction clearance rates was slightly lower in Melbourne while in Sydney it increased from 56.5% to 62.1%.  Over the weeks following the election, auction clearance rates in Melbourne have averaged 64.4% compared to an average throughout 2019 prior of 53.6%.  In Sydney, auction clearance rates have averaged 62.5% since the election compared to 53.6% prior.  
Importantly, the CoreLogic Home Value Index has been showing moderating declines each month throughout 2019 and although values are still falling nationally, Sydney and Melbourne recorded their first increases since 2017 in June.
Although all of these factors are seemingly positive for the housing market it is important to note that APRA has only just announced that they are actually amending their guidance on mortgage lending. 
Furthermore, from July 1 there were some further changes that will impact on the mortgage lending space, the details of which are below:
1.       The expansion of positive credit reporting. This change will provide lenders with more information on lenders credit history.  Specifically, credit account histories including: type of account, date the account was open, current credit limit and account closed date as well as two years of repayment history of accounts including information on late or defaulted payments.  Given this lenders will have a lot more information about borrower’s credit histories and will seemingly have fewer excuses for providing loans to those that aren’t credit worthy.  By the end of September, lenders will be required to share 100% of specified credit data, providing a more complete profile of borrower debt levels and credit worthiness. 
2.       The adoption of the new Banking Code of Conduct.  While this is not a legally enforceable document, it does set out the standards of practice and service for the banking sector.  It has been significantly amended and according to the Code in some areas, it sets higher standards than the law.  You can see the code here: <a id="LPlnk427005" href="https://www.ausbanking.org.au/wp-content/uploads/2019/06/Banking-Code-of-Practice-2019-web.pdf" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">https://www.ausbanking.org.au/wp-content/uploads/2019/06/Banking-Code-of-Practice-2019-web.pdf</a>
So on one hand you can see the borrowing is going to become somewhat easier as APRA makes the changes it is proposing and mortgage rates have reduced on the back of the two interest rate cuts we’ve had.  On the other hand, the expansion of comprehensive credit reporting gives lenders much more insight into the creditworthiness of borrowers and the new banking Code of Conduct appears to be requiring much higher standards from the banks, as well as executive accountability for conduct as prescribed under the Banking Executive Accountability Regime (BEAR).  Furthermore, banks continue to have a very close focus on living expenses assessment when deciding whether a borrower is credit worthy.
Given all of this, we believe that mortgage credit is going to become a little more accessible however, there will remain a level of conservatism and caution from lenders.  Especially given the Royal Commission that has recently occurred and the fact that they have much more data available to them in order to make decisions about the credit worthiness of borrowers.
CAMERON KUSHER is the head of research for the Australian division of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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What APRA (potentially) giveth does comprehensive credit reporting take-away? CoreLogic's Cameron Kusher

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Commercial real estate investment in Australia reached a new record level of $42.6 billion in transactions during the 2019 financial year (FY19), up 22% from the $34.9 recorded in FY18, according to Cushman &amp; Wakefield research.
Their research showed, during the financial year, investment in office assets reached a new high of $23.1 billion boosted by a number of major transactions as the financial year came to a close.
The transactions they refer to are Dexus acquiring 80 Collins Street, Melbourne for $1.476 billion, and the sale of 100 Market Street and 77-85 Castlereagh Street, Sydney to Blackstone for $1.52 billion.
Office investment volumes were highest in New South Wales which recorded a total of $10.2 billion in FY19, with Sydney remaining the most active market for office transactions in FY19.
Cushman &amp; Wakefield research shows that Sydney CBD prime gross effective rents grew 9.1% in the 12 months to June 2019, well above the long-term average, while vacancy declined to 4.1%.
Cushman &amp; Wakefield’s Head of Research, Australia and New Zealand, John Sears, said, “Investment in Australian commercial property remains in strong territory, with sustained investor demand for office assets across the country as rents ran higher and vacancies tightened. We saw landmark office deals in Sydney and Melbourne recently completed, and the pipeline remains strong. In Brisbane, the investment outlook remains positive and a number of office assets are commanding strong investor interest and are likely to transact in Q3.”
“With the bond yield falling around 130bps in the 2019 financial year and office yields remaining steady, the relative attraction of these assets also helped buoy investor demand. However, we are not yet calling the bottom of the yield cycle. Solid rental growth, improving funding costs plus the blowout in the spread to bonds suggests there is still room for commercial yields to decline further,” Mr Sears said.
Foreign investment also trended higher in FY19, recording a total of $19.3 billion and accounting for 45% of all transaction volumes.
Multinational investors such as Blackstone were among the major sources of foreign investment into Australia, while Canada and Singapore were also prominent sources of inbound capital.
Cushman &amp; Wakefield’s Managing Director CRE NSW, Simon Fenn, said, “The combination of stock withdrawal, the development of quality pre-committed supply and an unprecedented infrastructure spend is drawing both local and offshore capital.”
“With CBD stock unable to meet demand, investors are increasingly looking to metro areas that are also experiencing strong leasing conditions.”
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Commercial real estate investment reaches new record high of $42.6 billion

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EXPERT OBSERVER 
Brisbane is doing what it’s done for the past five years. It’s performing solidly, with most markets recording price rises in the past year, but it’s not a compelling growth market. As I commented recently: “Brisbane is like a car where the engine is revving but it can’t move forward because the handbrake is on.”
Hotspotting’s Winter survey of sales activity shows a reduction in the number of growth markets, measured by patterns in dwelling sales quarter-by-quarter. Prior to this, Brisbane had recorded a rising trend for three consecutive surveys. But now the engine has stalled.
Brisbane continues to perform quite well on price growth, with 66% of suburbs delivering annual growth in their median house prices, which means 135 suburbs with median house prices higher than a year ago. The figures for apartment markets, however, are much less positive, which reflects unit over-supply in recent years.
The number of suburbs with growing demand had risen from 19 to 29 to 33 to 44 in our previous surveys, but the number of growth markets has dropped to 24 in our Winter survey. In the early part of 2019, Brisbane has been impacted by some of the national factors, such as tighter credit and uncertainty prior to the 18 May election. 
We expect some revival in the second half of 2019, helped by the series of fortunate events since 18 May, including cuts to taxes and interest rates, plus the prospect of improved infrastructure spending by the Queensland Government. In the meantime, Brisbane continues to be steady but unexciting.
Some sub-markets are doing better than others. The clear market leader is the Brisbane-north precinct, which comprises the northern suburbs of the Brisbane City Council area – essentially this is Brisbane’s middle market on the northside. Brisbane-north has 10 suburbs with growth momentum (almost half of the growth markets in the Brisbane metro area), including solid middle market areas like Alderley, Everton Park, Kedron, McDowall, Sandgate, Stafford and Wavell Heights.
Quarterly sales in Alderley have been 28, 37, 48, 50 and 52 – and its median prices have risen 6% for houses ($860,000) and 15% for apartments ($425,000) in the past 12 months. Sandgate has had a 15% rise in its median house price ($750,000).
Before the Winter 2019 survey, the Moreton Bay Region in the far north had been the No.1 market in Greater Brisbane for some time. It had lifted the number of growth suburbs from 7 to 10 to 12 in the previous three surveys. But now the Moreton Bay LGA has faded – it now has only five growth suburbs, with 33 suburbs which are either plateau or consistency markets. The remaining suburbs with growth momentum are Everton Hills, Ferny Hills, Kippa-Ring, Murrumba Downs and Warner.
I expect revival in this market, or sections of it, later in the year, helped by infrastructure like the new university campus in the Petrie area.
A number of Moreton Bay suburbs recorded good price growth in the past 12 months, including Bellara (up 11%), Bray Park (6%), Cashmere (10%), Joyner (9%), Sandstone Point (11%), Caboolture (6%), Upper Caboolture (6%), Scarborough (8%), Strathpine (11%), Woody Point (9%), Burpengary East (11%) and Murrumba Downs (8%). 
This reflects a well-established pattern in real estate that prices often remain strong for some time after sales activity has faded.
Elsewhere across the Brisbane metro area, the most notable markets are those marked by consistency and solidity (like Ipswich City and the Brisbane-south precinct) and those where the trends are more negative (like the Brisbane-inner precinct and Logan City).
The number of danger markets in Brisbane is gradually reducing – the seven that remain are primarily inner-city suburbs impacted by the apartment oversupply, which is gradually being absorbed. A couple of inner-city markets, notably Kangaroo Point and Milton, have lost their danger ranking in this survey as the data gradually improves.
But the highly-regarded western suburb of Fig Tree Pocket has been classified as a danger market, because sales activity have declined significantly, the median house price has dropped 25% to $890,000 and vacancies in this postcode are 4.5%.
The price data for the Greater Brisbane Area is noteworthy, because it shows that the generalised figures published in mainstream media are highly misleading. The latest figures from sources like SQM Research, Domain and CoreLogic have Brisbane houses showing little or no growth in the past year, but our suburb-by-suburb analysis shows there are many outperformers.
Hotspotting analysed 287 suburban markets – 205 house markets and 82 unit markets - looking at the latest figures showing annual growth rates. The results for houses are a lot more positive than those for units.
Of the suburb house markets, 135 (66%) have median house prices higher than a year ago, including 44 where medians have grown more than 5% - headed by West End (up 16%), Windaroo (16%), Sandgate (15%), Hemmant (23%) and East Ipswich (19%). 
A total of 70 suburbs (34%) have median house prices down in annual terms, but most are down by less than 5%. Only 12 suburbs have recorded median house price decline above 5%.
The apartment market shows a different pattern, impacted by several years of over-supply which drove up vacancy rates, especially in the inner-city areas. Of the suburbs with unit markets, 38% have higher medians than year ago and 62% have recorded decline in their median prices.
It’s notable than 26 or the 38 Brisbane markets where median prices have dropped more than 5% are apartment markets. The median apartment price for inner-city Bowen Hills is down 19%.
Overall, Brisbane is solid market – or a series of mostly solid markets – awaiting a catalyst. It’s likely to get at least part of the boost it needs from recent national factors, including the election result, the APRA easing, the reductions to interest rates and the tax cuts.
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

Brisbane property market stuck in low gears with the handbrake on

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The Carnarvon Tavern in Western Australia's Pilbara has been listed for sale.
The 2,135 sqm property at 12 Camel Lane in the Gascoyne Pilbara Region, some 900 kilometres north of Perth, was once owned by former Federal Minister Wilson Tuckey.
It's where Tuckey allegedly earned the nickname 'Iron Bar.'
It is being sold under the instructions of PPB Advisory's Simon Theobald as liquidator of Symlone Pty Ltd who went into liquidation in April. 
Symlone Pty Ltd paid $600,000 for the property in 2007.
<img class="x_cbT-content-image x_cbT-upload-drop-target" src="https://f.datasrvr.com/f1/619/15688/Pilbara_2.JPG" alt="" width="640">
The doors closed in late March and the property is being offered with vacant possession.
Affectionately known by locals at The Troppy, the Carnarvon Tavern premises comprises a drive through bottleshop and a separate building which is currently leased to a beautician.
The Troppy is licenced for 260 people and has two bars, a number of pool tables, a DJ box, dance floor and full kitchen facilities.
The property is being sold by Ray White's Phil Zoiti and Brett Wilkins.
“It's been a long-time favourite hangout for locals and tourists alike," Zoiti said.
"It’s been a part of the Carnarvon history for many years."
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jrobinson-rf4aSBido9

Pilbara's historic Carnarvon Tavern hits the market

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EXPERT OBSERVATION 
The NSW Government has extended the implementation date of two important planning policies by four months, as a sign that planning is slowing in NSW.
The Low Rise Medium Density Housing Code was due to begin on July 1 2019 across all councils after being delayed for a year. But last Friday the planning regulations were changed to give 46 councils another four months to implement the code in their planning documents.
Sydney council Lane Cove has implemented the code from July 1 but they changed their Local Environmental Plan to prohibit multi dwelling housing in R2 Low Density Residential zones which dramatically reduces the availability of land where the code could apply.
It is likely that the 46 councils given another four months to implement the code will also restrict areas it can be applied.
The Urban Taskforce believes the ‘Missing Middle’ code has generated a perception across Sydney’s councils that it could change the character of the suburbs, and we recommended that councils define significant appropriate areas where a town house typology would be appropriate.
Last Friday also saw an extension given to the deadline for councils to produce a Draft LocalStrategic Planning Statement by 1 July 2019 to now be required by 1 October 2019.
The final statements were due on 1 December 2019 but these have been extended by four months to 31 March 2020.
Originally Sydney councils had to finalise their strategic plans by 1 July 2019 but in September 2018 councils were given an extra five months until 1 December 2019.”
The Urban Taskforce is concerned at the slowness of the implementation of these planning policies, as Planning Minister Rob Stokes has stated that his preference is to bed down the planning system so all parties have clear, fixed rules - but it seems the time span to do this is stretching out as the state government and councils try to drive outcomes.
CHRIS JOHNSON is the Urban Taskforce CEO
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NSW planning policy deadline extension is a concern: Chris Johnson

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EXPERT OBSERVATION
The May retail update showed sales edging up 0.1% in the month but essentially flat over the April-May period.
This was a touch below the consensus forecast of a 0.2% gain but in line with Westpac's view.
Annual growth slowed to 2.4% over the year, the slowest pace since the start of 2018 and well below the long run average of 4% over the year.
As noted last month, the timing of public holidays may have affected sales over April-May period.
Aside from that our main area of interest is around the sub-category and state detail and the extent to which these show wealth effect drags from the Sydney and Melbourne housing corrections.
The evidence this month is mixed: household goods and NSW remain notable weak spots for sales but the deterioration in these segments remains moderate and sales remain firm across other discretionary categories and in Vic, with a notable firming in the resource states.
<a href="https://www.propertyobserver.com.au/images/2019/7/4/retail%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/2019/7/4/retail%201.jpg" alt="">
By category, the main source of weakness in May was basic food retail (–0.3% in the month). This category accounts for 40% of total retail.
Food price moves have been a significant driver of fluctuations – the latest dip may be a sign that these are easing. Sales ex basic food rose 0.4%mth.
Across the other categories, household goods recorded a 0.4% fall in the month following a 0.9% decline in April with weakness pronounced in the housing-related 'furniture &amp; floor coverings' sub-category (worth about 25% of the wider category).
That suggests wealth effects are dragging on 'big ticket' discretionary spending (a view supported by recent weakness in vehicle sales).
<a href="https://www.propertyobserver.com.au/images/2019/7/4/retail%202.png" target="_blank">Click here </a>to enlarge:
<img src="https://www.urban.com.au/images/2019/7/4/retail%202.png" alt="">
 
However, the picture is more mixed across 'small ticket' discretionary categories, sales slipping for clothing (–0.2%mth) and department stores (–0.4%mth) but rising for cafes &amp; restaurants (+0.7%mth) and 'other retail' (+0.6%mth).
The state patterns were also mixed. Sales continue to slow abruptly in NSW, down 0.1% in the month but with annual growth down to a very weak 0.5% over the year.
Vic is holding up much better with a 0.6% gain in the month and annual growth above 4% over the year. The two 'mining states' recorded dips in May but continue to see annual growth lift, running at a surprisingly strong 4.7%yr pace in the case of Qld.
<a href="https://www.propertyobserver.com.au/images/2019/7/4/retail%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/2019/7/4/retail%203.jpg" alt="">
Looking by channel, online sales continue to moderate from the big surge in 2018, annual growth slipping below that via 'traditional' channels for the first time since the ABS started collecting monthly online sales data in 2013.
The breakdown by retailer size shows small retailers bearing the brunt of the 2019 slowdown. That said, while sales growth has held up better for larger retailers (running at 4% over the year) it is low by historical standards.
Overall the May update is bleak but not bleaker than expected. Retail sales are treading water in nominal terms rather than contracting.
<a href="https://www.propertyobserver.com.au/images/2019/7/4/retail%204.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/2019/7/4/retail%204.jpg" alt="">
 
As such the wash up for the June quarter volumes that feed into national accounts estimates of consumer spending will depend heavily on what has been happening on the price side. We suspect retail price inflation has slowed significantly from the food price driven gains over the last two quarters.
The June quarter CPI update due at the end of the month will be an important pointer on this question and the extent to which growth in consumer demand is slowing.
MATTHEW HASSAN is a Senior Economist for Westpac.
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Australian retail sales tread water: Westpac's Matthew Hassan

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Immigration increases house prices, but that effect is reduced if a population views new migrants negatively, according to a world-first analysis from Deakin University.
The Deakin Business School study, <a id="LPlnk86101" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=FcQ5do3Mtm%2F2JnP%2FxXFcY%2BL9mOkU%2Fad4G7kfqxVfSdkEEq1vNf2gy223dpxStDrOzS022pZho9BLBEis%2FGvpUGMgg3AkCNJaGd8RDr0EBFADdtnwPzZ5Bw0vwFcWND0w6IwjcZm%2FFGI%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.sciencedirect.com%2Fscience%2Farticle%2Fpii%2FS1051137718302481&amp;I=20190703032605.000004826056%40mail6-41-usnbn1&amp;X=MHwxMDQ2NzU4OjVkMWMxZTQ2YjA1ZjM5NTQ1MjYyMzQ3Mjs%3D&amp;S=Wq3LopswqhzfOS2z3SUikMwHJdf_zWOc0nAhISK0A3Q" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">recently published in the Journal of Housing Economics</a>, is the first comprehensive statistical review of the global evidence to evaluate how attitudes to immigration affect house prices.
It found that while house prices increase in line with increases to immigration that effect diminishes in countries less welcoming to the newcomers.
Alfred Deakin Professor of Economics Chris Doucouliagos, co-director of the Deakin Lab for the Meta-Analysis of Research (DeLMAR), said the global stock of immigrants had more than tripled between 1960 and 2015, from 72 million to 243 million.
“The sharp rise in international immigration is a pressing social and economic issue,” Professor Doucouliagos said.
“Our analysis is especially timely against the backdrop of a worldwide spread of populist and nationalist politics and the rising need to provide adequate housing for dislocated populations and affordable housing for younger generations.
“So we wanted to know if immigration does affect house prices. But also the impact of deep-seated attitudes towards immigration. Specifically whether the attitudes of locals towards immigrants moderates the impact of immigration.”
The meta-analysis looked at 474 estimates of immigration’s impact on house prices in 14 different destination countries, including Australia, Canada, New Zealand, the UK and the USA.
“We found that immigration increases house prices in the aggregate. However using data from the World Values Survey, we show that attitudes to immigrants moderates this effect,” Professor Doucouliagos said.
“In countries where locals dislike living next-door to immigrants, for instance, immigration has a smaller effect on house prices, although we find no evidence that house prices sink as a result of immigration.”
<table border="1" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top">
Country
</td>
<td valign="top">
Percentage not in favour of immigrant neighbours
</td>
<td valign="top">
Immigrants as percentage of 2015 population
</td>
<td valign="top">
House price change in decade to 2015
</td>
</tr>
<tr>
<td valign="top">
Australia
</td>
<td valign="top">
10.5%
</td>
<td valign="top">
28.22%
</td>
<td valign="top">
+37.35
</td>
</tr>
<tr>
<td valign="top">
Canada
</td>
<td valign="top">
4.1%
</td>
<td valign="top">
21.8%
</td>
<td valign="top">
+43.66%
</td>
</tr>
<tr>
<td valign="top">
UK
</td>
<td valign="top">
14.2%
</td>
<td valign="top">
13.2%
</td>
<td valign="top">
+0.51%
</td>
</tr>
<tr>
<td valign="top">
USA
</td>
<td valign="top">
13.6%
</td>
<td valign="top">
14.49%
</td>
<td valign="top">
-23.52%
</td>
</tr>
<tr>
<td valign="top">
New Zealand
</td>
<td valign="top">
5.9%
</td>
<td valign="top">
22.96%
</td>
<td valign="top">
+29.41
</td>
</tr>
</tbody></table>
 
 
Data on attitudes to immigrants are regularly collected from the World Values Survey. Specifically, Professor Doucouliagos and his colleagues looked at the question: ‘On this list are various groups of people. Could you please mention any that you would not like to have as neighbours?’
They then looked at the percentage of people from each country included in the meta-analysis who responded ‘Immigrants/foreign workers’.
“For example in the UK, immigration has had a non-significant effect on house prices, but our analysis suggests that may be in part because of negative attitudes towards immigrants,” Professor Doucouliagos said.
“We see the same effect in Australia, and this goes against the theory that increased immigration means higher house prices.
“Immigration increases the demand for housing and rental accommodation, but it might also affect amenities and the perceived desirability of the neighbourhoods most affected.”
Researchers also carried out a ‘counterfactual analysis’ to look at what might happen to house prices if attitudes to immigrants softened to similar levels of the most accepting sample country.
They found immigration would then increase house prices in most countries.
“Our findings are also consistent with other research that people like living near their kin and this motivates where they choose to buy or rent,” Professor Doucouliagos said.
“The tendency of new immigrants to live in the same areas as previous generations of immigrants, combined with a disinclination for local residents with negative attitudes towards immigration to reside near immigrants, lessens the relationship between immigration and house prices.”
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Negative attitudes to immigrants tempers house price increases: Deakin University

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UK retail giant Debenhams are closing their doors in Australia just two years after entering the market.
It was October 2017 when Debenhams stepped on to Australia shores, in Melbourne, where they secured a store on St Collins Lane in the CBD.
The retailer failed to expand across the country however, unlike other overseas retailers such as H&amp;M.
The decision to exit Australia comes three months after Debenhams entered administration back in the UK under a company voluntary arrangement.
They announced plans to close 22 stores in the UK, a move it said would help it to save millions year.
Lenders stepped in to restructure the company, with Sergio Bucher, the group chief executive, stepping down.
Debenhams was introduced to Australia by Pepkor South East Asia, which is part of Greenlit who run Harris Scarfe, Best &amp; Less, Fantastic Furniture and Snooze.
Greenlit chief Michael Ford said in a statement that "Greenlit Brands and our General Merchandise Division have carefully considered the implications of the administration … at Debenhams UK on our franchise and brand ­agreement.
“Due to change of control that has occurred at Debenhams UK, we believe that it is appropriate for us to start an orderly and managed process to cease this agreement.
“Our immediate focus is to support the Debenhams team members in Australia through this process and where possible, look at redeployment opportunities in the Greenlit Brands group once the business ceases to operate.
“This process will be undertaken carefully and sensitively while maintaining business as usual and continuing to serve our loyal Debenhams customers in Australia.”
The Project's Lisa Wilkinson was a fan, appearing on the hit Network Ten show, she wore a Debenhams' Wallis Red Animal Tie Top.
 
 
 
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UK retail icon Debenhams to close its doors in Australia

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An industrial investment in Kunda Park has been offered to market through Savills.
The 10 meter high span building with office space has been offered for sale fully leased.
Featuring a net lettable area of approximately 2,556 sqm, Heka Diprose Pty Ltd currently occupy Unit 1, 49 Enterprise Street, and are secured on a five year lease with a further four x five year options.
Set on a 3,156 sqm site, it is being offered for sale by Scott Gardiner and Jason O’Meara of Savills.
Director of Savills, Scott Gardiner, said the property ticks a lot of boxes for the current tenant, so he is expecting Heka Group will stay on a long term lease.
“This is a superb industrial investment opportunity zoned medium impact industry in the heart of the well-established Kunda Park Enterprise Estate,
“Properties of this size, scale and positioning on a solid lease rarely come to the market,” Mr Gardiner said.
The current net rental is $240,000 per annum, subject to annual rental increases of 3% with adjusted as at 1 August to $247,200 per annum.
The property was built in 2004 with high end industrial warehousing and office space across two levels, plus it has car parking accommodation for 26 vehicles.
Director of Savills, Jason O’Meara, said Kunda Park is a highly sought after location for investors and tenants, given its strategic location just west of the Bruce Highway and ease of access to key road links such as Maroochydore Road.
Improvements to the property include two x ten tonne cranes, large oven, spray booth, and a sand blasting room, plus strengthened mezzanine floor.
Neighbouring tenants include Toll, One Steel, Kelly Green Crane Hire, Stoddart Group, and Country Chef.
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