Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

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>

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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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Arts, music and eating out have emerged as the favourite spends for Australians looking for experiences to spend their disposable dollars on, according to new data released by NAB. 
The Customer Spending Behaviours report, based on around 2.7 million daily consumer transactions, found creative services such as performing arts and music had the fastest growth at 35.3 per cent followed by accommodation and food at 26.7 per cent. Experiences include buying theatre and concert tickets, eating at cafes and restaurants and staying at hotels.
NAB chief economist Alan Oster said the report gave an important insight into household budgets across the country. The report analysed the spending behaviours of its customers, excluding things such as mortgages, other credit repayments and government services.
“By examining such a large number of daily transactions, we can show where spending is growing fastest, even down to a postcode, and what our customers are spending it on,” Oster said. 
<a href="https://www.propertyobserver.com.au/images/2017/09/26/NABSpending1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/26/NABSpending1.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/09/26/NABSpending2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/26/NABSpending2.png" alt="">
The report also found consumers had boosted their average monthly spending during the quarter to $2,064 in metropolitan areas ($1,997 in Q1 2017) and $1,918 in regional areas ($1,866 in Q1 2017). 
In addition, it showed spending on consumption-based goods and services by NAB customers grew by 3.9 per cent over the year to Q2 2017, accelerating from 2.0 per cent over the year to Q1 2017. 
“Customer spending growth improved in all metropolitan and regional areas (except Tasmania), with overall spending growth in regional areas continuing to outpace cities,” Oster said. 
“Perhaps lower mortgage debt in regional areas is freeing up more disposable income for these consumers resulting in faster growth.” 
<a href="https://www.propertyobserver.com.au/images/2017/09/26/NABSpending3.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/26/NABSpending3.png" alt="">
Oster said retail trade is still a key part of the spending patterns but growth is increasingly coming from consumers wanting to head out to have meaningful experiences. 
“We can see consumers are getting out of the house, spending their disposable income on eating out, staying at hotels and enjoying music and the performing arts,” Mr Oster said. 
“This was particularly seen in Victoria, where growth was fastest in the suburbs of Hurstbridge and Garfield, followed by Quakers Hill in NSW.” 
Customer spending growth improved in Q2 2017 in all metropolitan and regional areas (except TAS). By state, VIC, NSW and QLD contributed around 98% of total growth in customer spending in Q2. Growth was fastest for Arts &amp; Recreation and Accommodation &amp; Food. 
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jonathanchancellor-7SQnKwU6yx

Consumers spending their disposable dollars on experiences: NAB 

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GUEST OBSERVER
The equation doesn’t look pretty. Traffic congestion costs us <a href="https://bitre.gov.au/publications/2015/files/is_074.pdf" target="_blank">billions of dollars</a> each year – so we are told – and population growth is not letting up. When road rage meets large economic costs, it’s little wonder our politicians are desperate to do something.
The trouble is, too often that “something” is a great big new freeway. Building more roads <a href="https://theconversation.com/do-more-roads-really-mean-less-congestion-for-commuters-39508" target="_blank">isn’t the best answer</a>, because the roads we have are mostly up to the job – if only we could make better use of them by spreading traffic out beyond the morning and evening peaks.
Instead of focusing on freeways, governments should change the way we pay for urban roads and public transport. To work out how best to do this, the Grattan Institute <a href="https://grattan.edu.au/wp-content/uploads/2017/10/892-Road-congestion.pdf" target="_blank">has looked at</a> several million Google Maps estimates of travel times in Australia’s largest cities. This analysis reveals both the extent of the problem in Sydney and Melbourne and its city-specific characteristics
For many, the problem is minor
The truth is, for a lot of people, road congestion doesn’t matter much. This is because most people work in a suburb close to where they live.
Chart 1 shows congestion delays for Sydney’s 146 most-common commuting trips.
Chart 1: For many Sydney commuters, congestion is very modest
Additional minutes compared to free flow <a href="https://cdn.theconversation.com/files/188305/area14mp/file-20171002-12155-1detu38.png"><img src="https://cdn.theconversation.com/files/188305/width754/file-20171002-12155-1detu38.png" alt=""></a> The horizontal black line in the coloured bar is the median of all journey-to-work routes, weighted by the number of people who used a car to travel to work on those routes in the 2011 Census reference week. Trip times were estimated by assuming all travel between suburbs was between representative addresses for each suburb. Routes with fewer than 400 such commuters are not included. Grattan analysis of Google Maps, and ABS (2011)
The average delay is small: an average commute at the busiest time of day takes around three minutes longer than the same trip in the middle of the night.
While some commutes are delayed for much longer, it is unusual for trips to take more than ten minutes extra in peak periods.
<h2>Congestion is a problem in the CBD and inner suburbs</h2>
Unsurprisingly, the story is different, and worse, in and around central Sydney and Melbourne. Add in all the trucks and vans, students and tradies, shoppers and people going to appointments, and typical delays for travel on CBD-bound journeys are substantially greater (Chart 2).
Chart 2: On commutes into Sydney’s CBD, the average morning-peak delay is 11 minutes <a href="https://cdn.theconversation.com/files/188306/area14mp/file-20171002-12163-u7fwz0.png"><img src="https://cdn.theconversation.com/files/188306/width754/file-20171002-12163-u7fwz0.png" alt=""></a> The horizontal black line in the coloured bar is the median of all journey-to- work routes, weighted by the number of people who used a car to travel to work on those routes in the 2011 Census reference week. Trip times were estimated by assuming all travel between suburbs was between representative addresses for each suburb. Routes with fewer than 400 such commuters are not included. Grattan analysis of Google Maps, and ABS (2011)
The trends are similar in Melbourne. Travel on CBD-bound journeys is much more delayed than to non-CBD locations.
Chart 3 also shows that delays are noticeably larger in the suburbs that immediately surround Melbourne’s CBD.
Chart 3: Travel in suburbs surrounding the Melbourne CBD is highly delayed
Increase in travel time relative to free flow travel time <a href="https://cdn.theconversation.com/files/188307/area14mp/file-20171002-12132-ps1pb5.png"><img src="https://cdn.theconversation.com/files/188307/width754/file-20171002-12132-ps1pb5.png" alt=""></a> Average delay is calculated as the ratio of trip duration at each point throughout the day to the minimum trip duration observed for that route over the sample period. Based on travel time of representative route samples collected via Google Maps. Weekends and public holidays excluded. Grattan analysis of Google Maps
<h2>Some commutes are frustratingly unpredictable</h2>
Most travellers don’t just care about how long a trip usually takes. How long it could take also matters.
Chart 4 shows that Melbourne’s Eastern Freeway/Hoddle Street corridor has not only some of city’s worst delays, but also some of the least-predictable travel times. Motorists from suburbs to the north-east have to juggle these less-reliable travel times more than those travelling similar distances from other directions.
Chart 4: Travel on routes to Melbourne’s CBD that rely on Eastern Freeway and Hoddle Street are noticeably delayed and unreliable
Increase in travel time as a proportion of free-flow travel time, weekday morning peak, commutes into Melbourne CBD <a href="https://cdn.theconversation.com/files/188308/area14mp/file-20171002-12115-g3b13o.png"><img src="https://cdn.theconversation.com/files/188308/width754/file-20171002-12115-g3b13o.png" alt=""></a> For travel departing between 7am and 9 am. Excludes weekends and public holidays. The boxes cover the 25th to 75th percentiles. The vertical line in each box lies at the median for each city. The ‘whiskers’ on each side of the boxes extend no further than plus or minus 1.5w where ‘w’ is the box width. Observations beyond the lines are plotted as dots. Grattan analysis of Google Maps
<h2>New roads are not the whole answer</h2>
Congestion tends to be worst in the most built-up parts of Sydney and Melbourne, where it would be most costly to construct new roads. This means that even crippling levels of congestion might not justify the construction of astronomically expensive infrastructure.
In any case, new roads often take years to build and can fill up with new traffic of their own.
New roads are important, however, in new suburbs.
The rule for our policymakers should be: build a road whenever the community will gain more from the new road than it will cost, and whenever the new road is a better option for the community than extracting more from the roads we’ve already got. But do not think of new roads as congestion-busting.
<h2>So what should be done?</h2>
Changing the way we use our existing infrastructure through pricing needs to be at the top of the agenda. This mean charging motorists for the congestion they cause.
Sydney and Melbourne need to consider introducing a congestion charge. That doesn’t mean more toll roads – it means charging people who drive at peak times on congested roads a small fee.
Because some people wouldn’t think it worth paying the charge at the busiest times of day, those who did pay would get a quicker and more reliable trip. People who can travel outside of the peaks would not have to pay, because there would be no congestion charge when the roads are not congested.
The increased cost to drivers could be offset by cuts to car registration fees. And any extra money raised by the congestion charge could be spent improving train, tram, bus and ferry services.
International examples show that introducing a congestion charge need not amount to political suicide. An initially sceptical public came quickly to accept, value, the reform when it was introduced in <a href="https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.20.4.157">London</a> and <a href="https://www.transportportal.se/swopec/cts2014-7.pdf">Stockholm</a>.
<img src="https://counter.theconversation.com/content/84774/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">The congestion equation for Sydney and Melbourne is only going to get more ugly as both cities continue to grow. We need more sophisticated policymaking to ease drivers’ road rage and frustrations.
<a href="https://theconversation.com/profiles/marion-terrill-169480">Marion Terrill</a>, Transport Program Director, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> and <a href="https://theconversation.com/profiles/hugh-batrouney-318476">Hugh Batrouney</a>, Senior Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/stuck-in-traffic-we-need-a-smarter-approach-to-congestion-than-building-more-roads-84774" target="_blank">original article</a>.
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Stuck in traffic: we need a smarter approach to congestion than building more roads

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The office markets in Sydney and Melbourne are moderating after their strong run in 2016 while Brisbane and Canberra are picking up, according to the latest research by Cushman &amp; Wakefield.
The property agency’s national head of Office Leasing, Tim Molchanoff said: “During Q3, we saw a mild convergence across east coast office markets, as Sydney and Melbourne growth moderated from strong gains in 2016, while Canberra and Brisbane are picking up pace. A different picture is starting to emerge compared to 6 months ago.”
In Sydney, big deals were a key driver this quarter as major tenants moved to take up space in the CBD. In Melbourne, the big landlords competed for pre-commitments as major office developments continued at pace, he added. 
“For Brisbane, the recovery continues with vacancies modestly tightening in the prime market with tenant favourable conditions driving office upgrades,” said Molchanoff. 
Canberra saw the completion of Cromwell’s 30,000 sq m A-grade Tuggeranong development.” 
<a href="https://www.propertyobserver.com.au/images/2017/10/03/CushmanOffice.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/03/CushmanOffice.png" alt="">
Following are the highlights from the 3rd quarter report.
Sydney – big lease deals return in Q3/ Prime rent growth bounces back
<ul>
<li>Vacancy declined, with the Premium rate compressing 300 basis points to 9.5%, while A grade at lowest rate (3.6%) since mid 2008.</li>
<li>Prime gross effective rents at $916 per sqm - up 1.6% QoQ and 6.9% YoY</li>
<li>Major deals: Clayton Utz renewed 17,000sq m (premium) at 1 Bligh St. Jobs for NSW signed on to 17,000 sq m (B-grade) at 11-31 York St </li>
</ul>
Melbourne - prime vacancy tightens, rents increase/developers vye for large tenants
<ul>
<li>Prime net effective rents at $376 p/sq m p.a - up 1.2% QoQ and 6.9% YoY.</li>
<li>In Q3, prime outgoings rose 7% QoQ, B grade outgoings up 10% as landlords passed on higher land tax expenses</li>
<li>Landlords jostled to secure large requirements with developers like Lendlease and Mirvac behind 12 CBD office towers under construction or approved</li>
<li>Major deals include: Recoveriescorp taking 3,562 sq m and Latitude Financial taking 9,744 sqm at 800 Collins</li>
</ul>
Brisbane – prime market leading the recovery
<ul>
<li>Prime gross effective rents have remained steady at 1.1% growth y-o-y</li>
<li>Annual net absorption saw prime vacancies decline from 15.5% to 11.7%.</li>
<li>Major deals: Deloitte renewing 6,000 sqm (premium) at 123 Eagle St, DSITI taking 3,000 sqm (A-grade) at 140 Creek St and QLD Electoral commission taking 1,822 (premium).</li>
</ul>
Canberra - New development completed in Tuggeranong
<ul>
<li>$352 prime gross effective rent (per sqm)</li>
<li>5.2% State Final Demand growth (annual avg) led all services sector states</li>
<li>Major deals: Cromwell’s 30,000 sq m A-grade development completed and will be occupied by the Department of Social Services from late Sept 2017</li>
</ul>
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Sydney, Melbourne office markets moderating: Cushman & Wakefield

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Raine &amp; Horne Commercial WA director Anthony Vulinovich has been named the state’s leading commercial property sales agent at the 2017 REIWA Awards for Excellence announced recently.
Vulinovich’s strategic approach was evident in his pre-sales to market large numbers of industrial lots within Northlink Industrial Estate at Wangara, Canning Vale’s Swan Brewery Estate Canning Vale and Tonkin Highway Industrial Estate in Bayswater.
Terry Menage, director, Raine &amp; Horne Commercial WA said that Vulinovich stood out from the crowd because of his great pre-sale work to secure buyer interest on behalf of land developers and as far as possible, “de-risking the land subdivision before development”.
“There are many hundreds of commercial sales agents in Western Australia, so this is a terrific win for Anthony and testament to his hard work and strategic commitment to selling commercial real estate over many years,” said Terry Menage, director, Raine &amp; Horne Commercial WA.
The ceremony was organised at a Crown Perth gala dinner.
“We sold pre-title over $40 million worth of land in the Tonkin Highway Industrial Estate, Perth, which is the city’s latest inner metropolitan industrial opportunity,” said Vulinovich.
Other significant sales in the last 12 months included a 35,500 square metre industrial site at 10 Craft Street, Canning Vale, which was purchased by Sigma Healthcare for $11.557 million. Raine &amp; Horne Commercial WA also sold 9 Brewer Road, Canning Vale to St Vincent De Paul Society WA Inc. for $5.454 million.
“These instructions have singularly resulted in Raine &amp; Horne Commercial WA, being the largest transactor of private industrial land subdivisions in the Perth metropolitan area over the last few years,” said Vulinovich.
Angus Raine, executive chairman of Raine &amp; Horne Group said that Vulinovich and Menage managed the numbers in spite of the economic downturn in Western Australia.
“It’s well-documented that times have been challenging, yet Anthony and Terry have managed to double their sales numbers and commission revenues over the last 3 years,” said Raine.
 
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Raine & Horne’s Anthony Vulinovich named WA’s best commercial agent 

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<div>When I first came to Sydney in the 1990s, there was a lot of talk about housing being expensive, although in truth it was still possible buy decent blocks of land reasonably close to the city, at least in the less fashionable inner western suburbs.</div>
<div> </div>
<div>I can also remember years ago reading a blog by Property Update contributor Stuart Wemyss, which argued that although some parts of Melbourne were evidently expensive, most of the talk about oversupply and a property bubble was just short term noise. </div>
<div> </div>
<div>Wemyss highlighted a very similar point: you could still find decent blocks of dirt close to the city, for a price that wasn't absurd - demonstrably not the case in many so-termed 'global cities', which Melbourne aspires to become - and over the years he was proven right.</div>
<div> </div>
<div>I feel a bit the same about Brisbane today.</div>
<div> </div>
<div>Sure, there are some suburbs that are expensive, as you would expect with the Greater Brisbane population approaching 2.5 million. </div>
<div> </div>
<div>But you can still find blocks of land reasonably close to the city, within a 6-8km radius of the CBD, for a relatively good price. </div>
<div> </div>
<div>Of course, there will be ups and downs, but over the next couple of cycles the right property types and locations will likely perform very well, in my opinion, especially in good school zones. </div>
<div> </div>
<div>Although some areas have been overbuilt with high rise apartments, south-east Queensland will offer some of the best opportunities over the decades ahead, as it expands as a population hub and becomes more popular with Asian migrants. </div>
<div> </div>
<div>The forthcoming Commonwealth Games will be a plus too.</div>
<div> </div>
<div>Slump, and rebound</div>
<div> </div>
<div>Queensland has always attracted migrants from interstate, and as the resources mega-projects kicked off through the early years of the mining boom, the Sunshine State was pulling in tens of thousands of internal migrants per annum. </div>
<div> </div>
<div>These were unbridled boom years both for Queensland's economy and Brisbane housing.</div>
<div> </div>
<div>From 2010, demand for Brisbane housing slumped, broadly in tune with internal population flows.</div>
<div> </div>
<div>Unfortunately, with apartment projects often taking an age from approval to completion, this was also a time at which many interstate investors settled on new units, which are now under water, figuratively speaking (not only in Brisbane, but in other parts of Queensland too). </div>
 
<div class="separator"><a href="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s1600/QLD2.jpg"><img src="https://2.bp.blogspot.com/-d0I2CmhdgPk/Wc9CDDm3V6I/AAAAAAAAmYM/Pk3tVR5P5YMB9zNT-8oVgi4R06aVWBMSQCLcBGAs/s640/QLD2.jpg" width="640" height="380" data-original-height="758" data-original-width="1271"></a></div>
 
<div>More literally speaking, Brisbane experienced severe floods in 2010-11, which arguably exacerbated a downturn that was already in the post as LNG projects approached completion.</div>
<div> </div>
<div>By March this year, estimated interstate migration to Queensland had risen to its highest level since 2009.</div>
<div> </div>
<div>So, what's going on? It's partly a function of the housing market cycle, with Sydney now expensive, and congested.</div>
<div> </div>
<div>Another boon for Queensland is that took its capex downturn medicine earlier than Western Australia, so although it was painful, the drag has now ended, with roads and other infrastructure projects having kicked off.</div>
<div> </div>
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<div>And, after a terrible lull, Queensland employment is suddenly now picking up, rising by an <a href="https://petewargent.blogspot.co.uk/2017/09/jobs-explosion-shatters-forecasts" target="_blank">outsized +95,400 over the year to August 2017</a>. And population growth is in turn ramping up just as dwelling starts now collapse, helping to rebalance the ratio of demand to supply. <div class="separator"><a href="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-NZ6sGlCUijI/Wc-BAtgAALI/AAAAAAAAmY4/jAB2Gm1ySpkxztQzoMQnS8YgwGDJsY9wgCLcBGAs/s640/A1.jpg" width="640" height="390" data-original-height="830" data-original-width="1362"></a></div>
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<div>You didn't really need ABS estimates to tell you about the migratory shifts, since every second person in inner city Brisbane seems to have just relocated from Sydney, or from Perth in many cases. </div>
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<div>With the Sydney market now slowing, there will no doubt be a great surge in interest in Brisbane property - that's just the way the cycle goes. </div>
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<div>White shoes alert</div>
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<div>A few caveats, however, if you're thinking of buying a Brisbane property investment.</div>
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<div>Of all the capital cities, Brisbane plausibly has the patchiest housing market - some locations and dwelling types are experiencing strong price growth, while others are struggling big time.</div>
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<div>Be wary about locations prone to flooding, and definitely watch out for white ants (termites)! </div>
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<div>Oh, and real estate laws are different up north, so you need to understand how to make offers subject to certain conditions. </div>
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<div>Personally, I would buy established not new property, for way too many heads have been burned buying new of off the plan up north. </div>
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<div>Finally, there is a long history of southern buyers getting brazenly fleeced on Queensland property deals by slick sales techniques - the famed white shoe brigade - so make sure you don't become yet another casualty. </div>
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Southerners need to avoid being fleeced by Queensland's famed white shoe brigade

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Two adjacent fully leased office buildings in Geelong, Victoria’s largest provincial city, are expected to sell at a below-replacement-cost figure of around $35 million.
The buildings could be sold separately as well, and currently return just over $3 million combined per annum. The properties will be sold by expressions of interest closing November 3.
The properties are being marketed by commercial real estate firm Dawkins Occhiuto’s Andrew Dawkins, Chris Jones and Walter Occhiuto, and Pat Burke of MP Burke Commercial.
Dawkins said the properties would present attractive yields for investors or partial owner-occupiers and presented far more attractive numbers than similar properties in Greater Melbourne, including the prospect of strong rental upside.
“With pre-commitment rents in Geelong at around $440 a sqm, there is a potential arbitrage opportunity for existing buildings that are achieving rents well below those rates,” Dawkins said.
“The momentum in the Geelong market coupled with these new rates being achieved presents a real opportunity for both these assets.’’ 
The property at <a href="https://www.domain.com.au/property-profile/235-237-ryrie-street-geelong-vic-3220" target="_blank">235 Ryrie Street</a> is a three-level building with advanced plans available for an additional two office levels featuring CBD and foreshore views. 
The property is fully leased to five tenants including Bendigo Bank, Clinical Lab and Victorian Regional Chanel Authority returning $748,076 per annum net.
The <a href="https://www.domain.com.au/property-profile/235-237-ryrie-street-geelong-vic-3220" target="_blank">237 Ryrie Street</a> asset is a modern (2008) building of five office levels, featuring a glass curtain facade and an atrium above the foyer. 
It is fully leased to eight tenants including Australian Red Cross, Bendigo Bank, Department of Human Services and Morris Finance, returning $2,345,525 per annum net.
Leased to 5 and 8 tenants
Burke added that increased government and private spending indicates a growing confidence in Geelong along with its record population growth.
“Geelong is currently in the midst of an investment and infrastructure boom with more than $1.3 billion of major construction underway or nearing completion and a further $2.3 billion worth of investment either awaiting commencement or in the planning stages. 
“The construction of the 14-level, $120 million WorkSafe headquarters in Malop Street epitomises Geelong’s relatively recent emergence as a key commercial centre including a number of national government tenants with the TAC, the ABS, NDIS and DHS.
The city of greater Geelong has a current population of more than 229,000 people, which is expected to grow to 320,791 by 2036.
 
 
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Geelong office duo expected to fetch $35 million

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Two office suites in Sydney CBD’s prized financial precinct have changed hands for a total of nearly $1.2 million in separate deals.
Both the suites at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-502425230" target="_blank">84 Pitt Street</a> were sold via private treaty.
The building, once known as the Australian Business &amp; Conference Travel House, spans 15 storeys and includes almost 70 strata titled units.
The suite at the rear of Level 1 of 74 sqm sold for $705,000, while another 43 sqm suite on the southern side of Level 10 sold for $475,000.
The deals were negotiated by Ray White Commercial’s John Skufris and Will Mulvihill of Henderson &amp; Horning on behalf of private owners.
"Both suites sold via private treaty with purchasers planning to eventually owner occupy,” said John Skufris of Ray White.
Another 75 sqm office suite near Martin Place is on the market. The suite is located at Hengrove Hall, 193 Macquarie Street.
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Office suites in Sydney CBD strata building sell for $1.2 millon

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A shopping centre in the riverside city of Launceston in Tasmania has been sold through Savills for $38.55 million.
The off-market transaction for <a href="https://www.linkedin.com/company/2588298/" target="_blank">Mowbray Marketplace &amp; Target Centre</a> adds to Savills’ recent track record of more than $128 million worth of Tasmanian retail investment deals. 
The sub-regional shopping centre is anchored by Woolworths and Target, in addition to 16 other shops.
It has a total lettable area of more than 12,000 sqm.
The selling agent was Pat De Maria.
 
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Tasmanian shopping centre fetches $38.55 million: Savills

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Brisbane is at the 11th spot among global cities for the most office floor space that can be bought for US$100 million, fetching 14,607 sqm in the CBD area but this could change as the leasing market recovers and prices head north, says a new report by Knight Frank.
The report, Global Cities 2018, compares how much USD100 million will buy of prime office space in 34 top cities across the world. 
Melbourne and Sydney sit at 15th and 23rd on the list respectively, with Melbourne fetching 12,719 sqm of CBD office space for USD100 million while the same money can get you 7,087 sqm in Sydney.
Knight Frank’s managing director, Queensland, Ben McGrath said that investor interest has continued to build in the Brisbane CBD market due to the Sydney and Melbourne CBDs recording lower yields and a climate of fewer opportunities. 
Brisbane’s office leasing market is recovering, creating limited time to purchase office assets to fully benefit from the expected recovery in tenant demand, according to Knight Frank’s latest research.
“The certainty that the leasing market has bottomed in the Brisbane CBD is providing impetus to the investment market with the view that now is the time to purchase assets to fully benefit from the expected recovery in tenant demand,” said McGrath.
“Additionally, the demand from large tenants for new space will provide the opportunity to secure core investments with limited national supply of these assets.”
Investment demand is also rising because of continued high spread in yields Brisbane has with Sydney and Melbourne, added Knight Frank’s joint head of Institutional Sales, Australia, Ben Schubert.
According to the Global Cities report, Brisbane’s prime office yields sit at 28th in the world out of the 34 cities monitored, with yields at 6.38%, while Sydney and Melbourne are at 20th and 22nd respectively with Sydney yields at 5.06% and Melbourne yields at 5.25%. 
“While both Sydney and Melbourne CBDs are far further through the leasing demand cycle, with signs of improvement in the Brisbane market, investment interest has further increased. Yields remain under downward pressure with interest in the Brisbane market continuing to build. Both the yield gap to Sydney and Melbourne and positive signs in the Brisbane leasing market is underpinning this investment interest,” said Schubert.
Knight Frank’s head of Commercial Sales, Australia Paul Henley said, “Investors are increasingly expanding their global portfolios. Those cities going through an evolution driven by a compelling mix of education, lifestyle, infrastructure, technology and real estate makes them places where people want to work, shop, play, and live.”
Knight Frank’s director, Research, Australia Michelle Ciesielski said prime yields have continued to firm in the Brisbane CBD, having fallen to a median range of 5.8% to 6.95% as demand grows.
“In Sydney, the strong investor demand, particularly from offshore investors, is putting significant pressure on yields across the grades, but more so on secondary assets which have a lower price point,” she said.
She cited the sale of 20 Bridge Street on a sub-5% core market yield as an indicator that prime assets in the CBD core are expected to be traded between 4.5% and 5.25%. 
“This will be further affirmed when the sale of Wynyard Place is concluded, with market expectation for a yield of close to 4.7%,” said Ciesielski.
In Melbourne, fewer buying opportunities with strong investor demand, particularly by offshore investors, has further compressed prime yields, added Henley. 
“Looking ahead, investment volumes are anticipated to remain above the five-year average in 2017. This is unlikely to match volumes recorded in 2014 as impacted by the scarcity of investment opportunities rather than diminishing investor appetite,” concluded Henley.
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Brisbane CBD ranks 11th globally for value in prime office space: Knight Frank

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The Victorian government’s Department of Justice &amp; Regulation (DOJR) and Carlton Justice Service Centre are moving into Melbourne CBD’s 50 Franklin Street office building, the former headquarters of Qantas.
The government entities have committed to lease the entire office building in a move that will strategically position them closer to the heart of the city’s legal precinct.
While not giving out the exact leasing figure, Colliers International’s Edward Knowles, who negotiated the 10-year lease, said it was in the low-mid $500 gross per sqm range.
The new tenancy will see Carlton Justice Service Centre relocate from 444 Swanston Street.
The deal follows Colliers International’s sale of the building to listed Singapore-based property company, Lian Beng Group, late last year for more than $51 million.
Earlier this year, Lian Beng sold the historic Newspaper House on Collins Street for $35 million to Malaysian conglomerate Oriental Holdings Berhad.
About the recent government tenancy, Knowles said <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502372342" target="_blank">50 Franklin Street</a> was vacated by call centre operator Salmat in February.
“To then re-lease the whole building in this timeframe attests to the current strength of the Melbourne office leasing market,” he said.
Knowles said the DOJR had committed to a long-term lease of the entire asset, which is approximately 11,500 sqm of net lettable area.
“The proximity to Melbourne’s legal precinct was another appealing factor,” he said.
“It is understood the new tenant will increase the base building’s NABERS energy rating from 1.5 stars to three-plus stars throughout the tenancy term.
 
 
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