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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BRW Rich Lister Lloyd Williams has $120 million hopes for a property that includes one of Melbourne CBD's biggest car parks.
The 16-level property at 114 Flinders Street, at the city's east end, has five ground-level retail tenancies with 1200 car bays.
Topping the tower are six levels of office space, overlooking Flinders Street and the Yarra River, Fairfax Media note.
Agents from CBRE along with Knight Frank's Martin O'Sullivan and Paul Henley say the Hudson Conway-owned car park benefits enormously from servicing strong demand from commercial office users as well as being the core car park for weekend diners and visitors to the MCG, Melbourne Park and AAMI Park.
Around six months ago one of Singapore's largest property developers, Wing Tai, acquired a seven-level car park further along Flinders Street for more than $31 million on a tight investment yield of about 3 per cent, with the listed Singaporean group paying about $100,000 per bay.
Dexus Property Group has received planning approval for a $300 million high-rise apartment project on a car park it owns on Flinders Street.
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j.ballantyne1990-6AQqhLzZaK

Lloyd Williams lists Flinders Street, Melbourne carpark

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Movements across all categories of commercial property are being keenly watched as investors look to seek traditional cash flow real estate to help fill out their portfolios, says valuation firm Herron Todd White in its March Month in Review which features the property clock as well.
The latest property clock deals with retail, which hinges on tenant success, and it’s been tough to get ahead for a number of operators in this space, say HTW.
Sydney, Melbourne and Brisbane have joined the Gold Coast, Coffs Harbour and Newcastle at approaching the peak of the market cycle in the retail property clock.
Townsville and Wide Bay remain rooted to the bottom of the cycle with Gladstone the new entrant, while Adelaide has joined Perth in approaching the bottom of the market. Canberra remains at the start of a recovery cycle, along with Cairns.
SYDNEY 
The retail market in Sydney has seen substantial growth over the past 12 months as a result of increased demand for good investment assets, growth in rental income and generally lower vacancy rates. 
The next 12 months look set to follow a similar trend, say HTW. Increased demand from investors will continue to drive the market. Properties with established retail tenants will be popular this year. 
Late in 2016 we saw some strong sales which showed tight capitalisation rates for assets with strong lease covenants, including some with sub 5% capitalisation rates in the Sydney CBD. 
The demand for CBD assets remains strong as the buzz around infrastructure improvements continues. Generally rents look likely to remain stable this year although an increase in prime locations was evident in 2016 with a strong probability of this continuing in 2017.
Recent media coverage of failing fashion retail chains may have some impact on demand from tenants but food and beverage outlets seem to be going strong in most locations, with demand for these types of retail properties likely to continue. Suburban retail assets with good lease covenants have also seen growth over the past 12 months. This is likely to continue as investors look for strong performing assets with future growth potential. 
Strip retail with a history of good retail trade such as King Street, Newtown; Darling Street, Balmain; and Crown Street, Surry Hills have all seen an increase in sales activity which looks set to continue in an upward trend in 2017. Looking ahead, the outlook for retail in Sydney overall remains positive for 2017.
"We expect prime locations to continue to perform well along with properties perceived to have growth or redevelopment opportunities in the future," say HTW.
"That said we are of the opinion that the market is reaching the peak of the cycle and any tightening of monetary policy or increase in the cost of debt will result in the prevailing investment yields not being sustainable. For the time being though, all signs are that 2017 will be a good year for retail assets."
Among a few examples of recent sales was a cafe at <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-501961950" target="_blank">1/252 Sussex St, Sydney 2000</a> which went under the hammer at Colliers International auction. 
<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/2017/03/22/CafeHTW.jpg" alt="">
Another was a three-level retail building at <a href="https://www.realcommercial.com.au/property-retail-nsw-haymarket-502254638" target="_blank">82-84 Dixon Street, Haymarket, NSW 2000</a> that was sold through Knight Frank.
<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/2017/03/22/Retail2HTW.jpg" alt=""> 
Melbourne 
Melbourne’s retail property market has continued its strong run over the past 12 months with supply generally limited and yields firming and reflecting pent up demand and rising prices. The steady low interest rate environment, strong Australian dollar and the ongoing perception of being a safe haven have all combined to drive strong interest from domestic and overseas retail property buyers. 
The Melbourne CBD retail property market continues to go from strength to strength. Despite approximately 50 new shops opening in the 12 months to January 2017, the vacancy rate is stable and below the five year average. 
Rents have remained stable and range from $1,500 per square metre for CBD shopping centre space to $11,000 for Bourke Street Mall frontage while yields range from 3.5 percent to 6.5 percent for CBD shopping space and 3.5 percent to 5.5 percent for the Bourke Street Mall. 
St Collins Lane, formerly Australia on Collins, at 260 Collins Street, which completed a $30 million upgrade in 2016, sold in November 2016 for $247 million on an initial yield of approximately 5 percent and a rate of $27,444 per square metre. The revitalised site offers over 9,000 square metres of retail space over four floors. With street frontage to Collins Street and Collins Lane in the heart of the Melbourne CBD, the centre comprises 60 specialty stores, including international brands such as The Kooples, Reiss, Sandro Paris, TAG Heuer and Coach plus restaurants. 
<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/2017/03/22/CollinsSt2HTW.jpg" alt="">  
The Melbourne CBD apartment construction boom and consequential growing population have been the driving force behind the strong market. With more retailers scheduled to open their doors in the Melbourne CBD, including British retailer Debenhams’ first foray into the Australian market, and more apartment completions, 2017 is shaping up to be another strong year for the retail property market in the Melbourne CBD. 
Within the suburban shopping centre market, owners may however be affected by store closures following the recent collapse of a number of retailers including Pumpkin Patch, Herringbone, Rhodes &amp; Beckett, Marcs, David Lawrence, Payless Shoes and Howards Storage World. 
Many commentators are forecasting more retail brands, particularly clothing retailers or fast fashion competitors, to fold in the face of increased competition from overseas retailers such as Uniqlo, H&amp;M, Zara and the forthcoming arrival of giants Amazon and Alibaba as well as a gradual yet inexorable move to online retailing. 
Store closures may affect suburban shopping centres in particular as it is precisely these shopping centres that the above named global players have pushed into. Local mid-market players are effectively squeezed out both in terms of retail price of clothing and also in costs with overseas players able to negotiate lower rents than their local counterparts.
While the closure of one or two stores may not have much of an immediate impact for shopping centre landlords, over the longer term shopping centre vacancies on a larger scale may combine to push sales growth and rental growth down, subsequently impacting income levels and values of shopping malls.
<h2>
Brisbane </h2>
The outlook for retail markets in Brisbane continues to be generally positive, albeit there is now an increasing perception that yields may finally have reached a low point. To put the story of recent years into perspective, we have seen retail yields generally move by between 150 and 200 basis points, which based on a starting yield of say 8%, translates to capital growth of upwards of 25 percent over a three year period. In some instances, capital growth has been upward of 35 percent. Sales activity has been moderate for the quarter. 
Major transactions include Arana Hills Kmart at $67 million, Everton Plaza at $27.5 million and Caboolture Square at $27.5 million. These showed yields of between 6 percent and 7.25 percent. 
In neighbourhood centres we have seen the first sub 6 percent yield achieved with a shopping centre at Tewantin selling at a yield of 5.9 percent. At the convenience end of the spectrum there has been less activity with only two centres selling under $10 million. Both of these were in the North Lakes region and showed yields of between 6.5% and 7 percent. 
Overall, the volume of sales activity has generally been low, primarily as a result of a shortage of stock and lack of other strong yielding investment options. With the perception however that yields will be bottoming out, we anticipate a rise in investment sales activity, particularly if interest rates start to rise and there is any suggestion of capital values starting to fall. Retail rentals continue to be reasonably restrained with ongoing difficult trading conditions in many sectors putting the brakes on rental growth.
The weakness is evident across the board as high levels of competition, flat wages, internet retailing and changing consumer shopping patterns all contribute to a very tough retail environment. Good buying opportunities in the market are limited at present as all reasonable assets are heavily scrutinised by a wide number of investors. There is potentially some more opportunity to value add with secondary centres but even these are holding their value fairly well making owners reluctant to sell.
Below are two examples from North Lakes cited by HTW.
<a href="https://www.propertyobserver.com.au/images/2017/03/22/BrisbaneNorthLakes.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/22/BrisbaneNorthLakes.png" alt="">
 
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jonathanchancellor-7SQnKwU6yx

Retail property market outlook positive: HTW

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SPONSORED POST
Melbourne is the top ranked ‘tech city’ in Australia and 14th in the world offering the infrastructure, business environment, talent pool and lifestyle to make it a strong base for tech companies, according to new Savills research. 
And according to Victoria’s Minister for Small Business, Innovation and Trade, Philip Dalidakis, that is no surprise given the Government’s policy of taking “brand Victoria to the world”.
While US cities dominated the top of the Tech Cities rankings – Austin (Texas) came in at number one followed by San Francisco, New York, and London, according to the <a href="https://www.savills.co.uk/tech-cities" target="_blank">Tech Cities 2017</a> programme - the liveability of cities including Melbourne, Amsterdam, Copenhagen and Toronto, placed them above more established global tech rivals.
Savills National Head of Research in Australia, Tony Crabb, said the elevation of ‘liveable’ cities in the rankings centred on their strong performance in terms of ‘buzz and wellness’, factors that were likely to prove increasingly important to the tech industry in decisions on where to locate and on attracting future talent. Melbourne was ranked 8th on this index.
“Everybody here knows Melbourne’s reputation as the world’s most liveable city, a title it has taken for six consecutive years, and so it is not surprising to see how well Melbourne ranked on this metric. 
“That single factor may well prove, more than any other, the most critical factor in further establishing and maintaining Melbourne‘s pre-eminence in what is increasingly one of the most important employment and growth industries in the country,” Mr Crabb said.
The UK report quantified ‘buzz’ (nightlife, entertainment, culture) and ‘wellness’ (pollution levels, quality of parks, healthcare, commuting times) and the cost of living in each location to create a specific ‘city buzz and wellness index’. 
It noted that given the increased focus on physical and mental wellbeing among the latest generation of workers, it could come to dominate their decision-making.
According to Nicky Wightman, Director Savills Worldwide Occupier Services, providing an environment which enables tech companies and start-ups to plug straight into the infrastructure and funding they need to be a success is an important part of any tech city.
“However this alone won’t necessarily make them attractive destinations. Young tech talent increasingly want to live in dynamic, healthy neighbourhoods within walking or cycling distance of the office.
“Cities that deliver those environments are therefore likely to consolidate their positions as destinations for tech talent and occupiers who want to attract the best staff,” Ms Wightman said.
The report’s release follows the Victorian Government’s recent announcement that Texas-based software firm, AgileCraft, would open its Asia-Pacific headquarters in Melbourne.
Mr Dalidakis said AgileCraft was yet another example of a leading global tech company choosing Victoria as an entry point for the Asia-Pacific market.
“Over the past two years we have taken brand Victoria to the world, attracting more and more leading global companies to invest in the state’s booming tech sector,” Mr Dalidakis said.
AgileCraft Chief Executive Officer Steve Elliott said Melbourne’s emerging tech sector and close proximity to Asia made it a perfect location to set up its regional headquarters and expand throughout the Asia Pacific region.
“We consider ourselves to be an innovative company at AgileCraft and the Victorian Government made it clear to us that it is trying to attract innovative businesses to the state, so we look forward to being a part of the Victorian technology ecosystem,” Mr Elliot said.
Savills Tech Cities 2017 Buzz and Wellness Index 
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Tech%20Cities%20-%20Overall%20Rankings.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/03/22/Tech%20Cities%20-%20Overall%20Rankings.png" alt="">
Savills Tech Cities 2017 overall rankings
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Tech%20Cities%20-%20Buzz%20and%20Wellness%20Index.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/2017/03/22/Tech%20Cities%20-%20Buzz%20and%20Wellness%20Index.jpg" alt="">  
About Savills Tech Cities
<a href="https://www.savills.co.uk/tech-cities" target="_blank">Savills Tech Cities</a> 2017 programme aims to understand the diverse factors that make places a good location choice for the tech sector; examining 22 global centres which have thriving and growing tech industries, home grown start-ups and incubators, and are at the top of global shopping lists for tech companies looking for space in which to locate. <a href="https://www.savills.co.uk/tech-cities/index" target="_blank">Explore the globe</a>.
 
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jchancellor-FAypfDUnLy

Savills research finds Melbourne top ‘tech city’ in Australia   

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From hip lobbies with a coffee shop ambiance to shared living spaces linking guest rooms, more hotels are turning their focus to providing inviting community areas.
For corporate travellers, it may mean sending a few emails from a co-working alcove complete with power and USB outlets, while leisure visitors may linger around tables stacked with board games or post photos to social media from the lounging zones.
“Today’s travelers often place greater value on convenience, sense of place and community than they do on the traditional luxuries offered by hotels,” says David A. Black, Americas Hotels Lead, JLL Project and Development Services. “That’s one reason why hotel companies are developing so many soft brands that have an emphasis on communal areas with spaces and experiences that bring people together in new ways.” 
The forthcoming Tru by Hilton is just one of the growing number of hotel brands encouraging its guests to spend less time in their rooms and more in specially designed communal areas. Aimed at Millennials — or people with a “Millennial mindset” — who want to connect with other travelers, the hotel’s innovative space called “The Hive” embodies the brand. Instead of a traditional lobby, guests have access to four zones — work, play, lounge, and eat — all designed for interaction and engagement.
Moxy Hotels, Marriott’s new boutique hotel brand, offers an industrial-style lobby with fun games on hand, along with coffee and full-service bars. And while not everyone will fancy the hotel’s signature feature, a communal ironing nook, Moxy Hotels is banking on Millennials appreciating its fresh approach.
“Some of this communal space is nothing new,” says Lauro Ferroni, JLL’s Global Head of Hotels &amp; Hospitality Research. “Hotels have always had lobbies, pools, bars and restaurants. But now the design and features of these communal spaces are being driven by hotels wanting to appeal to younger travelers.”
Going beyond the idea of a pool and sun-loungers as an outdoor communal space, one New Jersey hotel, The Asbury, has created a perennial backyard barbecue zone with Ping-Pong tables, live music, craft beer (served from a converted VW van), and food trucks.
<h2>Getting travelers together</h2>
The growing popularity of home rental platforms, such as Airbnb and HomeAway, and boutique hostels is also driving hotels to find new ways to accommodate larger groups of friends and families traveling together.
Marriott’s mid-range brand Element, which is aimed at guests staying beyond a few nights, is testing blocks of private rooms built around a communal kitchen and living room. “Really it’s about a much more shared economy these days. It’s much more about socializing and a sense of community when you travel,” says Toni Stoeckl, a Global Brand Leader at Marriott, in an interview with KTLA earlier this year.
The challenge for hotels is designing their communal areas in a way that appeals to their target guests – and provides them the requisite amount of privacy.
“Although there has been a growing focus on the Millennial traveler, hotel brands can’t afford to ignore their more “seasoned” travelers,” says Black. “That’s why design solutions must be flexible enough to provide both communal spaces which appeal to the co-working, co-living generation as well as spaces which appeal to baby boomers.  It’s not a one size fits all approach.”
In addition, people traveling in a group have different needs and expectations to those traveling in a couple.
“When you’re traveling, the communal experiences could turn out to be the most memorable part of the trip,” says Ferroni. “Yet you’re also going to have a lot of people who will say right off the bat that they have no interest in trying something like this, whether they’re business travelers who need their own space to get the job done or leisure travelers who want some time on their own.”
<h2>Is communal the way forward?</h2>
With the concepts of co-living and co-working taking off, bigger and more innovative social areas in hotels could well be in the cards – especially for brands targeting younger segments of the market.
Within the U.S., Ferroni believes it’s a concept that will take root in the bigger cities.
“I think it’s going to gain traction in large gateway markets like New York, Miami, or San Francisco where you have a large share of people coming from Europe who might be more comfortable with this concept,” he says.
Hotel executives might not be sure whether this is the next big thing, speculates Ferroni, but he says that it would be foolish for them not to give it a try. “They’re looking at it from a trial-and-error standpoint. Large hotel companies that want to be innovative can’t afford to ignore the potential of shared spaces – even if Millennials are not their key audience.”
This article by Laura Agadoni was featured in <a href="https://www.jllrealviews.com/industries/hotels-take-a-fresh-look-at-communal-spaces/" target="_blank">JLL Real Views</a>.
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Hotels take a fresh look at communal spaces

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A lack of stock and urgency by private investors to source quality investments has resulted in strong results for strata office sales in the heart of Parramatta, the epicentre of Western Sydney.
Ray White Commercial noted the demand for office strata was highlighted by the $650,000 sale at auction of a 63 sqm ground floor office investment at 3/4 Charles Street, Parramatta. It was sold by Ray White Commercial NSW-Parramatta’s Joseph Assaf for a sharp 3.62 percent yield.
Mr Assaf said smaller private investors have been particularly active in the strata office market, resulting in capital values averaging $4,520 per sqm, which is affordable in comparison to the highs achieved in the Sydney CBD of $7,614 per sqm.
“However, a lack of stock and urgency to source quality investments has resulted in results such as the sale of 3/4 Charles St,” he said.
“The yield was 3.62 per cent while the capital value was $10,317 per sqm.”
Ray White Commercial NSW Director Michael Ajaka said the robust performance of the Parramatta CBD office market over the last five years has been observed by many larger institutions and both domestic and international private investors who have been instrumental in reducing investment yields.
“Currently prime investment properties have averaged yields from 5.75 percent to 6.5 percent range,” he said.
“Recent sales include 80 George St, a B grade office building which sold for $51.88 million in October, 2016, to a private Asian investor on a yield of 8.50 percent, while A grade Century Centre at 18 Smith St changed hands in September, 2016, for $84.03 million, representing a yield of 6.88 percent.”
Ray White Commercial Head of Research, Vanessa Rader, said the Parramatta CBD office market has been yielding strong results over the last few years.
“There is still more than 200,000 sqm of office stock destined to be added in the Parramatta CBD during a time of steady employment demand which is putting pressure on vacancy rates and improving rents achieved,” she said.
“New developments in office and continued residential development coupled with changes to infrastructure means Parramatta will remain a construction zone with road closures and cranes on the skyline for the next few years.”
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Parramatta CBD office investment yields sharpen

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Sydney has emerged as the destination of choice for commercial property investors in the APAC region, as US$1.7 trillion capital waiting to be deployed in real estate globally this year, according to a new survey by CBRE.
Stronger economic growth, the availability of debt capital, and a more positive outlook from investors is expected to drive global capital flows in 2017, says CBRE Global Investor Intentions Survey 2017.
The survey reveals that investors have ample capital and a strong motivation to invest in real estate because of its relatively high income yield. North America is the preferred region for investors, with London, Los Angeles and Sydney the most popular cities in each of the major regions. Office is the most popular asset sector, with logistics up strongly in 2017 and a very close second.
The sum total of planned capital expenditure in real estate by investors is $1.7 trillion, it says. A majority of investors indicate that their buying activity will increase or remain the same compared to 2016. Those investors planning to spend more (40 percent) outweigh those planning to spend less (16 percent) by a margin, indicating a continuing positive attitude to real estate as an asset class.
There were nearly 2,000 respondents globally who participated in the survey, with investor types spread across fund/asset managers, insurers, pension and sovereign wealth funds, in addition to private investors such as real estate companies and developers.
Despite a volatile global political environment and key European elections set to take place in France and Germany, investors are relatively unconcerned about global or local politics. Investors’ main concerns are: an undefined ‘global economic shock’ (22 percent) and ‘faster than expected rises in interest rates’ (21 percent). The latter concern is felt much more strongly this year and is the biggest change from 2016.
“This time last year, investors were reeling from the volatility in world stock markets, now they are seeing equities reach record highs and economic sentiment is positive. Although there is uncertainty about the direction that economic policy will take, there is also a growing anticipation that changes will unlock growth,” said Chris Ludeman, global president, Capital Markets, CBRE.
“While there are some clouds on the horizon–emerging market debt looks problematic as does Greece’s financial situation–economic momentum, alongside the yield advantages of property as an asset class, should ensure another year of substantial capital flows into global real estate.” 
In last year’s survey, investors favoured core assets over secondary and value-added risk classes. That trend has partially reversed in 2017 with a fall in demand for core assets and an increased interest in core-plus and opportunistic assets. Nearly half of investors (48%) cite the high price of real estate as the main obstacle to deploying capital. This increased interest in core-plus and opportunistic reflects that issue, but it also shows that investors are slightly more ‘risk on’ than they were last year.
In the Americas, Los Angeles is the stand-out preference for investors. Dallas/Fort Worth has moved into second place. Washington, D.C. is the biggest mover, entering the top six at fourth position, having not featured last year. Atlanta moves up one place and Seattle is in sixth position, having not made the top tier last year.
Within EMEA, London remains the most attractive city for investors. Berlin has moved up two places to become the second most preferred destination. While there is some concern about European elections, so far this does not seem to have dampened appetite for real estate. The survey shows that, despite the uncertainty over Brexit, investors are increasingly interested in the UK.
In APAC, Sydney is once again the top destination, with Tokyo second by some distance. Australia’s cities remain highly popular with APAC investors because of their liquidity, transparency and positive long-term prospects. Seoul has dropped out of the top six and Hong Kong has moved in.
Office is the preferred sector for investors (26 percent), with multifamily (21 percent) and logistics (22 percent) also highly popular. The preference for retail has dropped sharply from last year (21percent to 12 percent). Americas-based investors have a strong preference for logistics and multifamily; two sectors that have performed extremely well this cycle due to changes in technology and demographics. EMEA and APAC investors have relatively more interest in the offices and retail sectors.
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Sydney, London and LA among top targets for commercial property investors: CBRE

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Among the capital cities, Melbourne posted the largest through-the-year growth at 10.8 percent, with Sydney close behind at 10.3 percent.
House prices in both cities experienced strong growth in the December quarter, with house prices climbing 6.1 percent in Sydney and 6 percent in Melbourne. 
The mean price of dwellings in Australia is $656,800.
The numbers immediately added fuel to the housing affordability debate.
Research by Ben Phillips, an associate professor of economics and public policy at the Australian National University, showed that while Sydney house prices have jumped 70 percent in the last five years, the average income growth has increased just 13 percent. His analysis was carried in the Huffington Post.
"This result comes at the same time that Australia is in a home construction super cycle, building more homes than ever before. The house price growth is largely related to investor activity in Sydney and Melbourne,” Phillips was cited as saying by the Huffington Post.
“Low interest rates and tax incentives such as negative gearing and capital gains tax discounts are likely adding extra fuel to price growth."
Treasurer Scott Morrison had earlier said there would be a housing affordability package in the May budget and NSW Premier Gladys Berejiklian has already said one of her main goals is housing affordability. 
The mean price of residential dwellings in NSW ($864,900) remains the highest in the country followed by Victoria ($690,100). 
<a href="https://www.propertyobserver.com.au/images/2017/03/21/ABSPropertyPrices.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/21/ABSPropertyPrices.png" alt="">
Perth continued to show weakness, with prices of attached dwellings falling 1.7 percent, followed by Brisbane (1.3 percent) and Darwin (2.5 percent), while prices rose in all other capital cities. The ABS defines attached dwellings that includes flats, units and apartments plus semi-detached, row and terrace houses.
The total value of Australia's 9.8 million residential dwellings increased $274.2 billion to $6.4 trillion. The mean price of dwellings in Australia is now $656,800.
<a href="https://www.propertyobserver.com.au/images/2017/03/21/ABSchart.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/21/ABSchart.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/03/21/ABSHousingValue.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/21/ABSHousingValue.png" alt=""> 
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National property prices up 4.1 percent in the December quarter 2016: ABS

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Townsville had a buoyant market in the final quarter of 2016 with the median house price growing an impressive 4.6 percent to $345,000, according to REIQ's latest report.
The area is set to benefit from considerable infrastructure and government spending programs, including the $250 million football stadium.
It will also benefit from the planning for the $1.6 billion Port of Townsville project, which will help employment figures and stabilise business confidence.
The unit market held steady this quarter at $260,000 and while there was zero growth this quarter there was also zero contraction.
Unfortunately, the market has contracted 4.3 percent over the year and compared with five years ago, has contracted 16.2 percent.    
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-annandale-124759510" target="_blank">15 Banyan Court</a>, Annandale (above) has been listed for $395,000.
It last sold on February 2013 for $360,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-south+townsville-119709151" target="_blank">45 Allen Street</a>, South Townsville (below) has been listed for $329,000.
It last sold on August 2013 for $320,000.
<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/2017/03/16/45%20Allen%20Street.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/property-duplex+semi+detached-qld-kirwan-124759502" target="_blank">14 Hasson Street</a>, Kirwan (below) has been listed for $375,000.
It last sold on October 2006 for $330,000.
<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/2017/03/22/14%20Hasson%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-gulliver-124891462" target="_blank">19 Harvey Street</a>, Gulliver (below) has been listed for $325,000.
It last sold on November 2016 for $180,000.
<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/2017/03/22/19%20Harvey%20Street.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-mount+louisa-125021966" target="_blank">24 Gadsden Loop</a>, Mount Louisa (below) has been listed for $354,000.
It last sold on February 2013 for $419,750.
<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/2017/03/22/24%20Gadsden%20Loop.jpg" alt="">
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Townsville housing market rises by 4.6 percent: REIQ

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The prospect of allowing young people access to their superannuation for a home deposit has been previously dismissed by Malcolm Turnbull as a “thoroughly bad idea”.
But I don't think it ought be ruled out. 
It needs consideration as proposals to alter negative gearing and capital gains tax arrangements do nothing to help first-home buyers obtain their deposit.
There are some wise MPs pushing Treasurer Scott Morrison to allow indirect access to assist buyers onto the property ladder.
There are those against the plan, warning it would drive up housing prices and that allowing first-home buyers early access to super will set back a retirement income system that is still struggling to fully ­deliver. 
Ofcourse currently a household in difficulty with their mortgage has the chance to access superannuation to clear arrears sometimes, whereas a first home buyer in an otherwise good financial condition cannot temporarily access their super for a deposit.
The ­proposal was dismissed by Turnbull when floated by ­former treasurer Joe Hockey in 2015.
Financial advisor Daryl Dixon recently said the Australian government should look at the New Zealand access via KiwiSaver super accounts.
Dixon noted for many Australians without access to parental help, being granted partial or full access to their compulsory super accounts provided their best chance to obtain a deposit to gain entry to the housing market.
The New Zealand scheme sets limits on the value of the house and income of the purchasers.
Australian super funds may object to losing funds under management, but the suggestion is the use of mortgage offset account facilities provides an effective means to ensure that the money used as a house deposit is not lost to the super system.
The money invested in the offset account would remain the property of the super fund with the income from the offset account reducing the cost of servicing the mortgage.
For the government the annual cost would be limited to the loss of the 15 percent income tax that would otherwise be collected on super fund earnings.
Dixon suggested safeguards could limit use of the super fund mortgage offset account to 10 years by when inflation and mortgage repayments have built up the house owners’ equity. 
The Australian government could also look at Canada’s Home Buyer’s Plan where Canandian first home buyers can withdraw up to $25,000 from their super with funds repaid within 15 years.
Yes redirecting members super balances early in their contribution cycle will hurt the compounding effect of returns and lead to lower retirement balances. 
But Generation Y have been accruing more debt at an earlier age than any of their predecessors. With 40 percent of 18- to 35-year-olds with a study-related HECS debt, this generation are already on the back foot before they have even begun their careers.
This article first appeared in the Saturday Daily Telegraph.
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Allowing first home buyers to access their super to buy a house 

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<img src="https://counter.theconversation.edu.au/content/74841/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Lots of ideas are being thrown about: the test for the Treasurer is to sort the good from the bad. Reports that the government was again considering using superannuation to help first homebuyers won’t inspire confidence.
It’s not the first time a policy like this has been floated within government. While these latest ideas to use super to help first homebuyers are marginally less bad than proposals from 2015, our research shows they still wouldn’t make much difference to housing affordability.
A seductive idea with a long history
Allowing first homebuyers to cash out their super to buy a home is a seductive idea with a long history. Both sides of politics took proposals to the 1993 election, before Prime Minister Paul Keating scrapped it upon his re-election.
Former Treasurer Joe Hockey last raised the idea in 2015 and was roundly criticised, including by then Coalition frontbencher Malcolm Turnbull.
Politicians are understandably attracted to any policy that appears to help first homebuyers build a deposit. Unlike the various first homebuyers’ grants that cost billions each year, letting first homebuyers cash out their super would not hurt the budget bottom line – at least, not in the short term. But as we wrote in 2015, that change would push up house prices, leave many people with less to retire on, and cost taxpayers in the long run.
Having learned from that that experience, the government has instead flagged two different ways to use super to help first homebuyers. Neither proposal would make the mistake of giving first homebuyers complete freedom to access to their super. But nor would they make much difference to housing affordability.
Using voluntary super savings for deposits
The first proposal reportedly supported by some in the Coalition, but now denied by the Treasurer, would allow first homebuyers to withdraw any voluntary super contributions they make to help purchase a home. Any compulsory Super Guarantee contributions, the bulk of Australians’ super savings, could not be touched.
Using super tax breaks to help first homebuyers build their deposit would level the playing field between the tax treatment of the savings of first homebuyers and existing property owners.
First homebuyers’ savings typically sit in bank term deposits, where both the initial amount saved and any interest earned is taxed at full marginal rates of personal income tax. In contrast, the nest eggs of existing property owners are taxed very lightly. For owner occupiers, any capital gain is tax free. For investors, capital gains are taxed at a 50% discount, and they get the benefit of negative gearing.
But even if there’s some merit in allowing first homebuyers to use super tax breaks to save for a home, it’s unlikely to make much difference. Few people are likely to take advantage of the scheme. Households are reluctant to give up access to their savings, especially when they’re already saving 9.5% of their income via compulsory super.
In fact the proposal works out to be very similar to the former Rudd government’s First Home Saver Accounts, and is likely to be just as ineffective. First Home Saver Accounts provided similar financial incentives to help first homebuyers build a deposit. Treasury expected A$6.5 billion to be held in First Home Saver Accounts by 2012. Instead only A$500 million had been saved by 2014, when Joe Hockey abolished the scheme, citing a lack of take up.
A “shared equity” scheme for super funds
The Turnbull government is reportedly also considering a “shared equity scheme” where workers’ super funds would own a portion of the property investment, and money would presumably be returned to the super fund when the property was sold.
Details are scarce, but the proposal raises several questions.
First, would the super fund use only the super savings of the co-investor to help buy the home, or would they add capital from the broader super fund pool?
Second, how would the super fund generate a return on the investment? A super fund that invests in rental housing gets the benefit of a rental income stream. A super fund co-investing in owner-occupied housing would not. The super fund could take a disproportionate share of any capital gains to compensate, but that hardly seems attractive for the funds in a world where interest rates are already at record lows.
Third, why involve super funds in a shared equity scheme in the first place? Australia’s super sector is already notoriously inefficient – total super fund fees equate to more than 1% of Australia’s GDP each year. A shared-equity scheme would inevitably add to super funds’ administration costs.
If the federal government is serious about super funds investing in housing, it needs to encourage wholesale reform of state land taxes, which levy a higher rate of land tax the more investment property a person owns. This discourages institutional investors such as super funds from owning large numbers of residential properties, because they pay much higher rates of land tax on any given property than a mum-and-dad investor.
<a href="https://www.propertyobserver.com.au/images/2017/03/22/image-20170320-8871-1gu0bul.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/2017/03/22/image-20170320-8871-1gu0bul.jpg" alt="">
Focus on what matters
If Scott Morrison really wants to tackle housing affordability, he can no longer ignore those policies that would make the biggest difference. That means addressing both the demand and the supply side of housing markets.
On the demand side, that means reducing government subsidies for housing investment which have simply added fuel to the fire. Abolishing negative gearing and cutting the capital gains tax discount to 25% would save the budget about A$5.3 billion a year, and reduce house prices a little - we estimate they would be about 2% lower than otherwise.
The government should also include the value of the family home above some threshold – such as A$500,000 – in the Age Pension assets test. This would encourage senior Australians to downsize to more appropriate housing, while helping improve the budget bottom line.
At the same time the government should support policies that boost housing supply, especially in the inner and middle ring suburbs of our major cities where most of the new jobs are being created. Population density in the middle ring has hardly changed in the past 30 years.
The federal government has little control over planning rules, which are administered by state and local governments. But it can provide incentives to those tiers of government, if it is looking to do something that would really improve home ownership.
While there are plenty of ideas to improve affordability, only a few will make a real difference, and these are politically hard. In the meantime, the latest thought bubbles about using super savings for housing might be less bad than in the past, but they would be just as ineffective.
John Daley is Chief Executive Officer, Grattan Institute and can be contacted <a href="https://theconversation.com/profiles/john-daley-1870" target="_blank">here</a>. 
Brendan Coates is Fellow, Grattan Institute and can be contacted <a href="https://theconversation.com/profiles/brendan-coates-154644" target="_blank">here</a>. 
Both are authors for The Conversation.
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