National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

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The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

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Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

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Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

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Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

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Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

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One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

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There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <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> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

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?

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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<div class="column">GUEST OBSERVER</div>
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<div class="column">Total household wealth (net worth) stood at a record $9,404.5 billion at the end of December 2016, up $328.1 billion or 3.5 percent over the quarter – marking the largest quarterly increase in net wealth in seven years.</div>
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<div class="column">In per capita terms. CommSec estimates that wealth rose to a record $386,972 in the December quarter, up $12,227 over the quarter and up around $24,000 over the year.</div>
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 Households held a record $1,046 billion in cash and deposits at the end of December. Cash and deposit holdings represented 22.4 per cent of financial assets. A record $798.2 billion was held in shares.</div>
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 Foreigners held a record $792.2 billion of Aussie shares in the December quarter or 45.1 per cent of the total.</div>
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 Job vacancies: Job vacancies rose by 1.8 per cent to 185,600 in the three months to February – a 6-year high. Job vacancies are up 7.3 per cent on a year ago.</div>
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<div class="column">New home sales: New home sales rose by 0.2 per cent in February. </div>
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<div class="column">What does it all mean?</div>
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<div class="column">Bad news for the gloom &amp; doomsters – new data confirms that Australians have never been wealthier. While loans rose by 1.6 per cent in the December quarter, yet again this was exceeded by growth of financial assets. And on top of this, the value of homes soared by 4.5 per cent.</div>
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<div class="column">In simple terms, debt may be up, but it is being used to purchase assets that are growing at a faster rate – not just homes but shares and other financial assets. Over the past two years financial assets have grown by $652 billion, well ahead of the $246 billion lift in loans. It is a point worth stressing to put more reason into the debate on household debt.</div>
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 But conservatism still reigns. The proportion of all financial assets in the economy held in cash and bank deposits has lifted to a 4-year high. In the December quarter over a fifth of all financial assets – 21.4 per cent – was held in cash and bank deposits. Aussie consumers, businesses and pension funds are all holding more than the “normal” proportion of financial assets in cash – especially companies and super funds.
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<div class="column">Foreign investors are still quite happy to hold Aussie shares. In fact foreigners now hold a record $765.6 billion of listed shares or just over 45 per cent of the total. In short, no worries about our economy from abroad.</div>
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<div class="column">The number of job vacancies has surged in the nine months to February and vacancies are now holding near 6-year highs. With more optimism on the global economy, business is shifting its focus to growth, investment and profitability. The lift in job vacancies certainly bodes well for hiring in coming months. Overall it is pretty clear that the job market remains in good shape.</div>
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<div class="column">Last year most of the jobs created were in part-time roles, with employers hiring more part timers and managing their workforce more carefully. The result was understandable given the degree of uncertainty that was prevalent with the Federal Budget, timing of an early election, and Brexit. However throughout the latter part of the year, employers started to add more full-timers. Stronger profitability and a focus on growth should give employers a degree of comfort to add full-time and permanent staff to the roster over 2017. <a href="https://www.propertyobserver.com.au/images/2017/03/31/Screen%20Shot%202017-03-31%20at%208.25.50%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/31/Screen%20Shot%202017-03-31%20at%208.25.50%20AM.png" alt="">
Interestingly there are around 13,000 more vacancies than at the same time in 2016. The jobs being created are primarily in the services sector, with healthcare and admin roles leading the gains. These jobs tend to be spread over a raft of small and medium-sized businesses as well as large firms, so generally don’t attract the same degree of media attention as jobs lost in mining. Importantly the lift in commodity prices should support the resources sector. In fact the latest figures suggest that the number of jobs across the mining sector has bottomed and now lifting – albeit incrementally.
What do the figures show?
Financial Accounts:
Total household wealth (net worth) stood at a record $9,404.5 billion at the end of December 2016, up $328.1 billion or 3.5 per cent over the quarter – marking the largest quarterly increase in net wealth in seven years. In per capita terms. CommSec estimates that wealth rose to a record $386,972 in the December quarter, up $12,227 over the quarter.</div>
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 In real terms, the value of land and dwellings rose by $217 billion in the December quarter, while the value of financial assets rose by $29.3 billion. Net saving plus real wealth rose by $274.5 billion in the quarter.</div>
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 Household financial liabilities fell by $8.6 billion in the December quarter in real terms.</div>
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<div class="column">Households held a record $1,046 billion in cash and deposits at the end of December. Cash and deposit holdings represented 22.4 per cent of financial assets, up from 22.3 per cent in the September quarter and in line with the long-term average of 22.2 per cent.</div>
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<div class="column">Households held a record $798.2 billion in shares or 18.5 per cent of all financial assets, and above the 17.7 per cent average since the global financial crisis.</div>
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<div class="column">Pension fund (superannuation fund) assets rose by $52.7 billion to $2,013.1 billion in the December quarter. Cash and deposits stood at 14.8 per cent of financial assets, in line with the 14.8 per cent average since the global financial crisis but well above the long-term average of 9.7 per cent.</div>
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Foreigners held a record $792.2 billion of Aussie shares in the December quarter or 45.1 per cent of the total (long-term average 42.7 per cent). Share of bond holdings by foreigners rose from a 14-year low of 47.7 per cent in the September quarter to 47.8 per cent in the December quarter.
<a href="https://www.propertyobserver.com.au/images/2017/03/31/Screen%20Shot%202017-03-31%20at%208.27.00%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/31/Screen%20Shot%202017-03-31%20at%208.27.00%20AM.png" alt="">
 
Job vacancies: 
Job vacancies rose by 1.8 per cent to 185,600 in the three months to February – a near 6-year high. Job vacancies are up 7.3 per cent on a year ago.</div>
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<div class="column">In original terms, annual changes in vacancies across states and territories were: NSW (down 0.7 per cent); Victoria (up 10.5 per cent); Queensland (down 12.2 per cent); South Australia (down 2.3 per cent); Western Australia (up 0.7 per cent); Tasmania (up 32.9 per cent); Northern Territory (up 7.3 per cent) and ACT (up 5.9 per cent). Vacancies rose 13,100 in original terms over the year. In terms of industries, vacancies rose the most over the year in Health Care &amp; Social Assistance (up 4,700), Other Services (up 3,000), Administrative &amp; Support services (up 2,900) and Professional, Scientific and Technical Services (up 1,900). Vacancies fell most in Retail trade (down 3,300), Accommodation &amp; Food services (down 1,400), and Rental, Hiring and Real Estate Services (down 800).
New home sales
In seasonally-adjusted terms, new home sales rose by just 0.2 per cent in February. The number of detached house sales fell by 0.1 per cent while multi-unit dwelling sales lifted by 1 per cent. The Housing Industry Association reported: “Detached house sales increased in two out of five mainland states in February 2017 - Western Australia and Victoria. Detached house sales in WA increased by 11.3 per cent in February 2017 following a rise of 12.1 per cent in January. Note that these rates of growth are exaggerated by the extremely low base for detached house sales. Detached house sales in Victoria posted a monthly gain of 5.1 per cent in February. Elsewhere for the mainland states, in February detached house sales fell by 12.6 per cent in New South Wales and were down by 5.7 per cent in Queensland and 0.2 per cent in South Australia.”
What is the importance of the economic data?
The Australian Bureau of Statistics releases the Financial Accounts publication each quarter. The data covers assets, liabilities and financial flows for the key sectors of the economy. Figures on financial wealth help reveal the true state of household finances.</div>
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 The Australian Bureau of Statistics releases Job Vacancies data each quarter. The data is useful in gauging the strength of the job market.</div>
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 The Housing Industry Association releases data on the sales of new homes each month. The HIA collects the data each month from a sample of Australia's largest 100 home builders. The survey covers around 14 per cent of the home building industry. </div>
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<div class="column"><a href="https://www.propertyobserver.com.au/images/2017/03/31/Screen%20Shot%202017-03-31%20at%208.28.05%20AM.png" target="_blank">Click to enlarge</a></div>
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What are the implications for interest rates and investors? 
Record household wealth will continue to support spending. And it is clear that household balance sheets remain in very good shape. While the gloomsters focus on higher household debt, the simple fact is that money is being used to buy assets, assets that are providing better returns than the cost of the loans being taken out. Aussies aren’t borrowing in droves to buy luxury cars – although some indeed are. No, the majority are investing in shares, putting money to work in superannuation and investing in property.</div>
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 There is always a risk that asset values can fall as well as rise. But Aussies are well placed to deal with that situation should it eventuate.</div>
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 A number of retailers have noted that the ‘wealth effect’ has been positive for their sales – areas like furniture, cars, boats and electrical equipment. </div>
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<div class="column">Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></div>
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jchancellor-FAypfDUnLy

Job vacancies at 6-year highs: Savanth Sebastian

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An application has been filed in Queensland’s Supreme Court to appoint statutory trustees to sell the Don Pancho Beach Resort property at Bargara in Queensland, according to a notice for members on the resort’s website.
The matter will be heard by the Supreme Court in Brisbane on April 12. 
Located at Bargara, the white-painted, Mediterranean-style resort is positioned at the gateway to the Great Barrier Reef. It is part of the Bundaberg area.
The land area is 3,940 square metres and the zoning is medium density residential.
Rooms are priced from $88, according to the resort's website.
Members may be entitled to a share of the proceeds on the sale of the property, the note says. 
A resolution was passed by a majority vote of members at the Extraordinary General Meeting held on 11 May 2016 in favour of making this application. 
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prateek24-ezbwHMbNAk

Don Pancho beach resort in Bundaberg seeks trustees for sale

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A building in the suburban Brisbane masterplanned Lakes Vista Office Park, located in North Lakes,  has sold for $6.75 million.
Building 12 incorporates 1,382 square metres of office and retail space, as well as 46 car park bays.
The property was purchased by Stronghold Investment Management, headed by Steve De Nys and Tony Boyd.
The sale realised an initial yield of 8.29%.
Once fully developed the office park, located just over 25 kilometres north of the Brisbane CBD, is planned to have approximately 13,228 square metres of commercial accommodation.
JLL’s Christian Sandstrom said the sale was indicative of the strength of the suburban office market in the city, with over $100 million worth of office buildings being transacted in 2016.
“Designated office parks in Brisbane have matured, with more experienced investment groups having accepted them as a designated office/employment precincts and we believe they will become increasingly popular by investors,” said Sandstrom.
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j.ballantyne1990-6AQqhLzZaK

Surburban Brisbane office building sells for $6.75 million

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Rental growth remains positive but is below 2% across the JLL neighbourhood and sub-regional centre portfolios, according to JLL’s latest report.
This annual report highlights the retail market industry and the views of retail centres managers on how the retail industry is doing.
Annual rental growth in neighbourhood centres rose from 0.7% in June 2016 to 1.2% in December 2016.
Annual rental growth across the sub-regional centre portfolio declined slightly from 1.8% in June 2016 to 1.5% in December 2016.
However, a number of centre managers highlighted that many tenants had expectations of reduced rents and generous incentives at the end of their current lease term, citing alternative options in neighbouring centres should their expectations not be met.
Rental growth was mixed amongst JLL managed centres, with a third of centres experiencing a decline in average rents and the remaining two thirds reporting an increase.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%203.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/28/Figure%203.jpg" alt="">
Respondents were asked to compare the level of tenant enquiry over the last six months (to December 2016) with the previous six- month period (to June 2016).
Figure 4 highlights the “net balance” in enquiry levels between December 2011 and December 2016.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%204.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/28/Figure%204.jpg" alt="">
Tenant enquiry remained below the neutral 0.0% mark, with a net balance of -6.4% compared with -7.8% in June 2016.
This is the second survey in a row of negative results after four surveys where the net balance was in positive territory.
The results highlight a continued challenging market with relatively subdued tenant enquiry levels.
Overall, response was very similar to the previous Survey covering the six months to June 2016.
Most respondents indicated no change in enquiry levels in the second half of 2016.
<a href="https://www.propertyobserver.com.au/images/2017/03/28/Figure%205.jpg" target="_blank">Click to enlarge</a>
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Enquiry continues to be dominated by 'mum and dad' retailers, which reflects both the high number of neighbourhood centres within the centre managers’ survey and the cautious approach being taken by national chains to expansion.
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As with recent surveys, the stand-out sectors continue to be food based retailers and casual leasing.
However, enquiry in these sectors has been stable with at least half the respondents stating that enquiry was moderate, strong, or very strong.
There is a slight improvement in enquiry levels in the discount variety sector.
Japanese groups such as Daiso have been active in this space.
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Retail rental market remains positive despite meagre growth: JLL

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GUEST OBSERVER
Australia has experienced a period of strong demand for commercial property which has led to firming yields and high prices.
There is still a substantial amount of investment capital looking for opportunity but the lack of availability of suitable stock has led to a reduced volume of transactions during 2016. Most property markets are, or are close to being, fully valued.
Going forward, rising bond rates and slow to moderate economic growth will have an impact on property markets. As growth stays below long term trends, and rates rise, prices will soften.
In this type of environment, leasing conditions will re-emerge as the primary driver of property outcomes. The key question is the extent to which growth in net effective rental income will offset the negative impact of rising interest rates on yields.
Cyclical factors will have a greater influence on prices in office property markets than that of rising interest rates on yields. The key is to invest in strong leasing markets with prospects for strong rental growth.
Sydney remains the pick of the markets. Demand has been improving moderately but with development virtually stopped and stock availability declining due to the Metro rail project and increased residential conversions, falling vacancy rates have meant strong rises in effective rents as leasing incentives reduce.
Vacancy rates are forecast to be less than 5% for the next three years, driving further rises in net effective rents and property prices. However, strong capital growth over the last year has reduced prospective returns. There are still opportunities for investment, and this is the phase where repositioning, major refurbishment or new developments can generate returns, but each opportunity needs to be examined on its own merits.
Last year, demand for office space was moderate in Melbourne. But, unlike Sydney, there has been plenty of development to satisfy requirements. In the short term, Melbourne will be hit by a weakening of demand as it absorbs the loss of the remaining car manufacturers and many associated suppliers, as well as a slowdown in residential construction.
Once that shock is absorbed, however, Melbourne will recover. It still retains many of the advantages—notably cheap land for residential, commercial and industrial property—which gave it a competitive advantage over Sydney in the provision of back-office services for national operations. Melbourne office demand will grow slightly more strongly than Sydney in the next decade but rent and property value growth will be inhibited by the plentiful availability of sites.
The Brisbane economy is still suffering from the continuing loss of demand from mining services. In the boom, 25% of Brisbane’s office space was occupied by companies servicing mining. Demand will be hit further when the inner Brisbane apartment market turns down.
Medium term, the prospects are good as Brisbane will benefit from strengthening activity in tourism, education services and agriculture. The short term will be difficult due to the existing oversupply of office space with little prospect of a substantial improvement in demand to absorb it. The vacancy rate is currently above 15 percent and will still be above 10 percent at the end of the decade.
The Perth economy is collapsing under the weight of the end of the mining boom. Investment has further to fall and the economy will stay weak for some time. During the boom, half of Perth office space was occupied by companies servicing mining. Much of that demand is now gone and the vacancies will take a decade to absorb. Rents and property values will fall a lot further.
Adelaide is suffering from weak demand and oversupplied office space. Although the worst may be over in terms of demand-side weakness, there is no prospect of sustained growth for a couple of years as the local economy deals with the closure of the GM Holden plant. The patrol boats, frigates and submarines projects will help but not until the end of the decade.
Canberra remains a difficult market. We are coming to the end of the period of substantial oversupply and A grade vacancies have tightened everywhere except at the airport, where there is still plenty of space. However, new construction is about to get under way in Civic, while some secondary properties lie vacant and are difficult to lease.
Retail property markets
Regional and sub-regional centres
Retail property remains a highly popular investment. The volume of transactions reached record levels over the last few years and only a shortage of regional centres for sale has constrained the market. Some existing owners are instead now ploughing additional capital into centre refurbishment/expansion projects.
Retail yields have firmed aggressively over the last few years and are averaging around that of the last market peak. Yet retailing conditions are not nearly so strong. Growth has been slowing in trend terms since early 2014. While larger retailers and chains are outperforming smaller retailers, there have nonetheless been several high profile failures in the last few months. 
The soft economy and weak household income growth will continue to constrain retail expenditure for the rest of this decade. Strong regional differences will emerge as former mining boom areas suffer, while those regions dependent on tourism, education services and other sectors that benefit from a lower Australian dollar enjoy stronger growth.
Shopping centre net operating incomes face further challenges from the poor performance of many anchor tenants and likely pressure on retailer profit margins (and hence their capacity to pay higher rent) from a lower Australian dollar. Changes in tenancy mix, a greater reliance on food and beverage retailers and service sector tenants, and costly upgrades will be required to protect against these threats.
Despite the challenges, centre incomes are, to a great extent, protected by anchor tenant rent and rents from non-expiring specialties on fixed annual escalations. Yields could remain low for some time but they will eventually follow bond rates up.
Large format retail
The large format retail property sector enjoyed another strong year in 2016 across a range of indicators. Strong demand from both consumers and retailers helped to push vacancy rates lower, in turn encouraging rental growth. Meanwhile, the investment market is buoyant.
However, the surge in consumer spending is now past and activity is at more moderate levels. This comes at a time when supply of centres is likely to surge after seven weak years. Reconfiguration of ex-Masters stores into centres could add up to 700,000 square metres of ‘new’ centre floor-space. Moreover, there are also 21 development sites to be accounted for.
Smaller existing centres and strip shopping locations are likely to be the main losers to the ‘new’ ex-Masters centres. Larger, dominant centres are unlikely to suffer as much. Bunnings is a clear winner in the whole process, with a major competitor gone and a great opportunity to pick up new sites easily.
Longer term, the outperformance of larger retailers and chains is expected to continue. Even so, it will be no match for the pace of growth in the 2000s.
On the investment side, demand remains strong. A record dollar value of transactions was achieved in 2015–16. The strength of investor demand has pushed down yields with further yield firming likely over the next 12 to 18 months. Rising bond rates, already putting upwards pressure on yields, will win out after that. Prime values are likely to stagnate rather than fall, but secondary centres could see a drop in prices.
Retail looks reasonably valued, with expected returns around current investment hurdle rates. Even so, retailing and retail property face major challenges. Large format retail has the best estimated return, reflecting its higher yield. Its low rent and expansion opportunities will help it to absorb the Masters properties and secure the longer term strength of the sector, but in the short term there are risks from the amount of reconfigured Masters floor-space likely to come on to the market.
 Industrial property markets
The years of strong investment returns from industrial property are coming to an end, with the period of falling interest rates that had underwritten firming yields and strongly rising asset values now over.
Softer future yields will have a negative impact on valuations and also on construction feasibility, requiring higher pre-lease effective rents to underwrite the financial feasibility of development projects. The transition to higher rents will be relatively smooth, though the risk is that it may take a year or longer. If this occurs, falling vacancies would eventually deliver the necessary step-up in rents.
Industrial property development is running close to demand. Ready availability of land and development competition is keeping a lid on residual land prices, rents and property values, suppressing a cyclical upswing. That makes it less risky but slightly overvalued in relation to market hurdle rates.
Summary
This is an uncertain time for property investors. After a long period of falling interest rates driving firming yields, we are on the threshold of a phase of rising interest rates. The uncertainty is how quickly and by how much interest rates will rise. When they do, yields will soften but that will be offset by the impact of rising rents.
This suggests that yields may have a little further to firm before the impact of rising interest rates comes through.  Meanwhile, continuing soft economic growth means continuing weak demand, in the transition to a post-mining boom economy. The result is marked differences in performance between industries and regions.
Damian Horton is head of property, Cromwell Property Group and can be contacted <a href="https://www.cromwell.com.au/" target="_blank">here</a>.
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2017 Australian commercial property market outlook: Cromwell's Damian Horton

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Sekisui House is launching four new intelligent SHAWOOD home designs in its $930 million masterplanned community - The Hermitage in Sydney’s Gledswood Hills.
Eighteen double storey completed designer homes, including the new collection, will be released in late March with prices starting from $759,000.
Craig Barnes,  Sekisui House estate sales and customer relations Manager, said that the company had invested a significant amount of time and research in developing the sophisticated new designs.
“SHAWOOD is resetting the standard for home building in Australia by combining the very best in Japanese organic design principles and pre-engineered technology to deliver innovative building solutions to the market,” he said.
“Since launching in late 2014, home buyers have embraced the opportunity to purchase a SHAWOOD home at The Hermitage, Gledswood Hills. "
"Purchasers from the local area are expected to show strong interest.
"We are also now starting to witness a shift towards buyers relocating from north west regions.”
<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/2017/03/23/20161103_SH-282_2mb.jpg" alt="">
The four new designs are named Type K, Type Cr, Type Ca and Type Nc.
Features include four bedrooms, two expansive levels, light filled void areas, exposed timber feature beams, generous rear yards, landscaped grounds, ducted air conditioning and innovative SHAWOOD architectural components.
Completed homes range in size from 221 sqm to 271 sqm. Seven home designs are available as part of the new release with completion expected in late 2017.
The Hermitage is a 320 hectare masterplanned community that will eventually comprise over 2,000 new dwellings in the heart of Sydney’s fastest growing regions, the South West.
It boasts 150 hectares of green open space, including dedicated parklands and a 27 hole golfing precinct, boasting a premiere nine hole course designed and constructed by Greg Norman.
<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/2017/03/23/20161103_SH-300_2mb.jpg" alt="">
For further information visit <a href="https://www.shawoodaustralia.com.au" target="_blank">www.shawoodaustralia.com.au</a>, <a href="https://www.thehermitagesydney.com.au" target="_blank">www.thehermitagesydney.com.au</a> or call 1800 113943.
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Sekisui House to build 18 SHAWOOD homes at Gledswood Hills

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Most Melbourne apartments are failing to meet minimum design requirements, according to Secret Agent’s latest bulletin.
The website recently released its findings on the state of recently built apartments in comparison to the Better Apartments Design Standards.
"What we found only confirmed our intuitive assumptions of inner Melbourne’s apartments: they’re generally hard to live in.
"While our full report dove into detail about each standard, this bulletin sums up the results of the overall study to shed light on the bigger picture, see the table below.
"We sampled 3000 apartments built in the last 6 years across 21 suburbs in Melbourne,” the report stated.
<a href="https://www.propertyobserver.com.au/images/2017/03/16/Screen%20Shot%202017-03-16%20at%203.39.53%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/16/Screen%20Shot%202017-03-16%20at%203.39.53%20pm.jpg" alt="">
Overall, 99.7 percent (2,991 apartments) failed to meet all the minimum requirements.
Only 9 apartments passed the seven standards we assessed (main bedroom dimensions, smallest bedroom dimensions, living room dimensions, private open space, windows, room depth, storage).
Out of these, 4 were 1 bedroom units, and 5 had 2 bedrooms.
<ul>
<li>94.2 percent (2,826 apartments) had balconies that were too small, or had none at all.</li>
<li>92.3 percent (2,770 apartments) were too small in terms of both bedrooms and living rooms, failing to meet all minimum dimensions.</li>
<li>84 percent (2,520 apartments) had either bathrooms or corridors that were too small. These failed accessibility standards.</li>
<li>70 percent (2,100 apartments) were not well-ventilated. Most of these only had windows on one side of the apartment, with the opposite wall facing the internal corridors.</li>
<li>52 percent (1,560 apartments) did not provide adequate sunlight to bedrooms. More than half of our sample either had no windows to their bedrooms, or had ‘snorkel’ windows that were deeper than allowed.</li>
<li>15.6 percent (468 apartments) were too deep, reducing natural light in parts of the living and dining areas.</li>
</ul>
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Melbourne apartments failing minimum design requirements

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An childcare investment property at Tamworth has been listed for sale.
Located at <a href="https://www.realcommercial.com.au/property-medical+consulting-nsw-tamworth-502320806" target="_blank">8 Patrick Street</a>, the property has a five year lease to G8 Education until May 2029.
There is two further 5 year options to extend until May 2039.
It has a fixed annual rental increase of 4 percent plus ‘ratchet’ provisions.
The property is well maintained and licensed for 38 places with all outgoing fees paid for by the tenant.
It has a net income of $97,525 per annum plus GST.
Positioned in a highly regarded place TAFE New England is 200 metres away while Tamworth’s CBD is only a kilometre.
The auction is on April 4 through Burgess Rawson agents Dean Venturato, Natalie Couper and Adam Thomas.
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Tamworth childcare investment property listed for sale

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Northcote Hill townhouses and apartments recently reached completion.
The boutique four storey development for Landream comprises 35 townhouses and nine apartments that capitalise on the sloping site. 
Positioned near the peak of Northcote Hill, many residences afford panoramic views towards the city from inner suburban Melbourne.
Project Principal David Forbes said Northcote Hill’s point of difference was the elevated outlook. The homes are designed to the finest detail for a modern inner urban lifestyle with contemporary open plan living spaces.
Each home has a generous courtyard, balcony or terrace. 
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Northcote Hill townhouses completed

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Middleton Grange has had the biggest housing stock decline in New South Wales, according to Investar’s latest report.
The property data firm says that housing stock in Middleton Grange has fallen by 71 percent from a year ago.
This is followed by Burradoo with a 63 percent decline in stock and Stanhope Gardens 62 percent down.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Postcode
</td>
<td valign="top" width="106">
Median price
</td>
<td valign="top" width="106">Current sales stock</td>
<td valign="top" width="106">
Sales stock 1 year ago
</td>
<td valign="top" width="106">
Sales stock decline
</td>
</tr>
<tr>
<td valign="top" width="106">
Middleton Grange
</td>
<td valign="top" width="106">
2171
</td>
<td valign="top" width="106">
$797,000
</td>
<td valign="top" width="106">30</td>
<td valign="top" width="106">
106
</td>
<td valign="top" width="106">
71%
</td>
</tr>
<tr>
<td valign="top" width="106">
Burradoo
</td>
<td valign="top" width="106">
2576
</td>
<td valign="top" width="106">
$1,490,000
</td>
<td valign="top" width="106">22</td>
<td valign="top" width="106">
61
</td>
<td valign="top" width="106">
63%
</td>
</tr>
<tr>
<td valign="top" width="106">
Stanhope Gardens
</td>
<td valign="top" width="106">
2768
</td>
<td valign="top" width="106">
$840,000
</td>
<td valign="top" width="106">20</td>
<td valign="top" width="106">
54
</td>
<td valign="top" width="106">
62%
</td>
</tr>
<tr>
<td valign="top" width="106">
Smithfield
</td>
<td valign="top" width="106">
2164
</td>
<td valign="top" width="106">
$749,000
</td>
<td valign="top" width="106">21</td>
<td valign="top" width="106">
52
</td>
<td valign="top" width="106">
59%
</td>
</tr>
<tr>
<td valign="top" width="106">
Cambridge Park
</td>
<td valign="top" width="106">
2747
</td>
<td valign="top" width="106">
$560,000
</td>
<td valign="top" width="106">22</td>
<td valign="top" width="106">
52
</td>
<td valign="top" width="106">
57%
</td>
</tr>
<tr>
<td valign="top" width="106">
Fairfield West
</td>
<td valign="top" width="106">
2165
</td>
<td valign="top" width="106">
$697,000
</td>
<td valign="top" width="106">20</td>
<td valign="top" width="106">
47
</td>
<td valign="top" width="106">
57%
</td>
</tr>
<tr>
<td valign="top" width="106">
Kellyville Ridge
</td>
<td valign="top" width="106">
2155
</td>
<td valign="top" width="106">
$940,000
</td>
<td valign="top" width="106">20</td>
<td valign="top" width="106">
46
</td>
<td valign="top" width="106">
56%
</td>
</tr>
<tr>
<td valign="top" width="106">
Castle Hill
</td>
<td valign="top" width="106">
2154
</td>
<td valign="top" width="106">
$1,350,000
</td>
<td valign="top" width="106">56</td>
<td valign="top" width="106">
128
</td>
<td valign="top" width="106">
56%
</td>
</tr>
<tr>
<td valign="top" width="106">
Condell Park
</td>
<td valign="top" width="106">
2200
</td>
<td valign="top" width="106">
$844,500
</td>
<td valign="top" width="106">18</td>
<td valign="top" width="106">
41
</td>
<td valign="top" width="106">
56%
</td>
</tr>
<tr>
<td valign="top" width="106">
Tura Beach
</td>
<td valign="top" width="106">
2548
</td>
<td valign="top" width="106">
$489,000
</td>
<td valign="top" width="106">41</td>
<td valign="top" width="106">
92
</td>
<td valign="top" width="106">
55%
</td>
</tr>
</tbody></table>
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-middleton+grange-124615266" target="_blank">107 Robey Avenue</a>, Middleton Grange (above) has been listed for sale.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-middleton+grange-124347794" target="_blank">173 Middleton Drive</a>, Middleton Grange (below) has been recently sold for $780,000.
<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/2017/03/1/173%20Middleton%20Drive.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-middleton+grange-123503734" target="_blank">4 Elevon Street</a>, Middleton Grange (below) has been sold for $790,000.
<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/2017/03/1/4%20Elevon%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-middleton+grange-124502198" target="_blank">24 Stanley Avenue</a>, Middleton Grange (below) was recently sold for $725,000.
<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/2017/03/15/24%20Stanley%20Avenue.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-burradoo-124982886" target="_blank">3 Moyne Close</a>, Burradoo (below) has been listed for between $1.3 million to $1.43 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/3%20Moyne%20Close.jpg" alt="">
A five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-burradoo-123905358" target="_blank">22 Charlotte Street</a>, Burradoo (below) was recently sold for $1.37 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/22%20Charlotte%20Street.jpg" alt="">
 
</body></html>

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