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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A DA approved residential development site in south-west Sydney has been listed for sale. 
The 7,818 square metre site at <a href="https://www.raywhite.com/nsw/edmondson-park/1631851/" target="_blank">245 Croatia Avenue</a> is approximately 650 metres from Edmondson Park railway station.
It has been approved for 105 mostly two bedroom units.
The marketing campaign is being handled by Ray White Commercial's Scott Timbrell and Nic George.
“Edmondson Park is a major land release area in the south-west growth region of Sydney,” Timbrell said.
“UrbanGrowth NSW has developed a masterplan for the area which includes a new town centre, new residential areas, schools, community facilities, recreation areas and a regional park.”
Edmondson Park is located 40km south-west of the Sydney central business district, in the local government area of the City of Liverpool.
George said the site enjoys easy access to the M7 and M5 motorways and is close to the Casula Shopping Village, schools and amenities.
Offers close April 10, 2017.
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j.ballantyne1990-6AQqhLzZaK

Development site in south-west Sydney listed

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Macquarie Park property sales for the three months to February 2017 have increased substantially from the preceding quarter, according to research from CoreLogic’s Cityscope.
Sales recorded in the quarter ending February 2017 totalled $704.7 million, an increase from the $135.5 million recorded in the three months to November 2016, but a decrease from the $769.9 million recorded to August 2016.
For the year ending February 2017, there were 74 sales at a total value of $1.64 billion, compared to 121 sales at a total value of $1.203 billion for the previous year.
The table below shows sales recorded for the past eight updates of Macquarie Park Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/03/3/Corelogic-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/3/Corelogic-1.jpeg" alt="">
According to the report, notable sales in the February 2017 update of Macquarie Park Cityscope include:
<ul>
<li>Everglade Campus, 82 Waterloo Road, Macquarie Park, a four-storey building with parking for 220 cars over two basement levels on a site area of 10,590 square metres, which was bought for $120 million;</li>
<li>Avaya House, 123 Epping Road, Macquarie Park, an A-grade, 10-storey commercial and industrial building with three levels of basement parking for 534 cars and a net lettable area of 16,161 square metres, which was bought for $118 million through CI Australia North Sydney and Savills and</li>
<li>Valad Corporate Place, 2 Richardson Place, North Ryde, an A-grade, four-storey office building with two additional levels of basement parking for 454 cars and outdoor parking for 63 cars on a site area of 14,325 square metres, which was bought for $85 million through CBRE Sydney and JLL Sydney.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/03/3/Corelogic-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/3/Corelogic-2.jpeg" alt="">
Properties for sale in Macquarie Park Cityscope in February 2017 include:
<ul>
<li>43 – 61 Waterloo Road, Macquarie Park, a large development site of 39,824 square metres with several older single storey buildings and a paved car park, available through Colliers International;</li>
<li>27 Sirius Road, Lane Cove West, a three-storey office building featuring a paved forecourt and high-clearance warehouse and a net lettable area of 8,100 square metres, available through CBRE North Sydney and</li>
<li>8 Australia Avenue, Sydney Olympic Park, a five-storey commercial building of 6,610 square metres with retail spaces on the ground floor and two levels of basement car parking providing 119 spaces available through JLL Sydney.</li>
</ul>
Leasing opportunities in the February 2017 of Macquarie Park Cityscope include:
<ul>
<li>18 – 20 Orion Road, Lane Cove West, a nine-storey building comprising ground floor foyer and eight floors of office space and parking for 378 cars, which has office space of 120 to 1,000 square metres for lease through Glass Property Consultants;</li>
<li>Riverview Park Estate at 166 Epping Road, Lane Cove West, comprising two 3-storey office buildings joined by a central 2-storey atrium plus two levels of basement parking for 236 cars, which has office space of 700 to 4,300 square metres for lease through Savills Parramatta and Knight Frank North Sydney;</li>
<li>
<a href="https://www.realcommercial.com.au/property-offices-nsw-macquarie+park-501704185" target="_blank">3 Thomas Holt Drive, Macquarie Park</a> (pictured above), a nine-storey office building with high-clearance warehouses and parking, which has office space up to 4,200 square metres on the top floors for lease through JLL North Sydney and GJS Property.</li>
</ul>
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Spike in Macquarie Park commercial property sales: Cityscope

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Launceston has an oversupply of industrial properties relative to demand, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that Launceston has a steady rental vacancy trend along with a stable rental rate trend.
<a href="https://www.propertyobserver.com.au/images/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.44.01%20am.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/2017/02/13/Screen%20Shot%202017-02-13%20at%2010.44.01%20am.jpg" alt="">
However Launceston’s industrial sales is declining despite the market rising, the firm says.
Launceston’s economic situation is flat with significant value difference between quality properties with national tenants and comparable properties with local tenants.
A 855 square metre industrial warehouse at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-tas-launceston-502323710" target="_blank">6/16 - 18 Goodman Court</a>, Launceston (above) has been listed for sale.
Similarly a 1733 square metre industrial warehouse at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-tas-launceston-502301290" target="_blank">2/7 - 9 Wilmot Street</a>, Launceston (below) has been listed for $850,000.
<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/2017/03/21/27-9%20Wilmot%20Street.jpg" alt="">
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Oversupply of industrial properties in Launceston: HTW

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The NSW mid north coast has a balanced industrial market, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that there is a steady rental vacancy trend along with a stable rental rate trend.
<a href="https://www.propertyobserver.com.au/images/2017/02/10/Screen%20Shot%202017-02-10%20at%202.43.42%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/2017/02/10/Screen%20Shot%202017-02-10%20at%202.43.42%20pm.jpg" alt="">
There is a steady volume of property sales with the region's market starting to recover.
The local economic situation is currently flat with a small value difference between quality properties with national tenants and comparable properties with local tenants, HTW says.
A 54 hectare industrial warehouse, the Lansdowne Estate, at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-kundle+kundle-502326190" target="_blank">21/586 Lansdowne Road</a>, Kundle Kundle, (above) has been listed for sale.
Similarly a 3895 square metre industrial complex at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-coffs+harbour-502294878" target="_blank">22-24 Marcia Street and 15 June Street</a>, Coffs Harbour (below) has been listed for sale.
<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/2017/03/21/22-24%20Marcia%20St%20%2015%20June%20St.jpg" alt="">
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Balanced industrial market in NSW's mid north coast: HTW

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GUEST OBSERVER
The minutes of the Reserve Bank Board’s March monetary policy meeting conveyed a more downbeat tone than the Governor’s decision statement, the commentary sounding a little more concerned about labour market conditions, household incomes and risks in the housing market.
Recall that the Governor’s decision statement included a mix of positive and negative changes vs February – business and consumer confidence at or above average and the global backdrop more constructive but the picture around household incomes and labour markets less encouraging. Changes to the commentary on housing were limited to a note that “supervisory measures have contributed to some strengthening of lending standards.”
The fuller discussion in the minutes presents a little differently. 
The Bank’s central case is still constructive: “Looking forward, year-ended growth … expected to pick up gradually to be above its potential rate over the forecast period” with spare capacity expected to decline slowly and underlying inflation to gradually rise.
The global backdrop is also noted as a clear upside with a marginally more constructive view on commodity prices (“the recent improvement in global demand suggested that higher commodity prices could be more persistent than previously anticipated”).
However, links back to domestic demand are again questioned with the boost to mining sector profits seen flowing more to dividends than spending with significant ‘leakage’ to non-resident shareholders. Interestingly, comments in the detail also note that “the terms of trade had played an important role in households’ saving and spending decisions” in recent decade, perhaps suggesting that the Bank suspects any ‘windfall’ gains for consumers may tend to be saved rather than spent.
The overall theme is still of upside risks from global growth and commodity prices near term but a likely muted pass through to local conditions and question marks beyond 2017.  
Business and consumer confidence rates less of a mention, with just a watered down comment “household perceptions of their personal finances had also been around average”. The Westpac-Melbourne Institute Consumer survey has shown a material weakening in this component in recent months.
The minutes seem much less certain about labour markets. For example, whereas the Governor’s decision statement noted “forward–looking indicators point to continued expansion in employment over the year ahead” the minutes are more tentative saying they “suggested that there could be some pick-up in employment growth near term“ also suggesting that the labour market “may not be quite as strong as the headline employment and unemployment rate figures indicated”.
The minutes strike a different tone on housing as well, referring to “a build-up of risks associated with the housing market”. That language seems a little more urgent. Also notable is the link drawn between incomes and housing risks:”… household income growth had been low, which, if it were to persist, would have implications for consumption growth and the risks posed by the level of household debt.”
Members also noted that “although credit growth was lower than in previous decades, it had been faster than the subdued growth in household incomes”.
This is important from the point of view of potential changes to macro-prudential policy. Recall that the main ‘macro’ measure introduced in the 2014-15 changes was a 10 percent guide for annual growth in investor credit. In considering the risks around household debt levels, the RBA is really thinking in terms of leverage, i.e. the ‘debt to income ratio’.
Under this framework, if incomes are now seen as growing at a permanently slower pace then the trajectory for credit growth would need to be lowered. The RBA’s next Financial Stability Review, due April 13 may provide more elaboration on these comments. 
Conclusion
While still presenting a constructive growth view on global and local growth prospects, the minutes to the March RBA meeting place more emphasis on weaknesses around labour markets and the consumer and downplay the potential upside from rising commodity prices. They also sound a touch more urgent around risks in the housing market. 
That mix points to an RBA that is slightly more dovish stance on rates but potentially mulling ‘macro-prudential’ policy changes to manage risks. 
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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RBA shows a little more concern around housing risks: Matthew Hassan

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GUEST OBSERVER 
Today’s Minutes are yet further evidence that the RBA is firmly on hold. The Board have retained a relatively optimistic view of the global and domestic economies.
And concerns around household debt and dwelling prices were once again aired.
This time, however, the Board was more explicit on housing-related risks by noting that, “recent data continued to suggest that there had been a build-up of risks associated with the housing market.” 
On the international economy, the Board sounds relatively upbeat on recent developments. In particular, it was noted that, “a number of indicators, including growth in global industrial production, global trade volumes and business sentiment, had improved.” And more importantly for monetary policy, “recent data had also confirmed the pick-up in global inflation.”
<a href="https://www.propertyobserver.com.au/images/2017/03/21/Screen%20Shot%202017-03-21%20at%201.02.35%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/21/Screen%20Shot%202017-03-21%20at%201.02.35%20PM.png" alt="">
The solid 1.1 percent lift in real GDP in the December quarter backed up the Board’s view that the weakness in the September quarter was temporary. Indeed, the 
Minutes note that growth over QIV had been, “above expectations”. The RBA continue to expect growth to pick up above its potential rate over the forecast period. This is clearly a best case scenario with the risk that growth outcomes undershoot the Bank’s expectation. 
The Board continues to lack conviction in its assessment on the labour market, noting that it, “remained difficult to assess”. The RBA expects spare capacity to “decline slowly.” Here we note that the Minutes predate the February employment report (published last week) which showed employment contracted over the month and the unemployment rate lifted to 5.9 percent. Another weak employment report would see the RBA’s forecasts for employment and wages growth tested.
<a href="https://www.propertyobserver.com.au/images/2017/03/21/Screen%20Shot%202017-03-21%20at%201.04.40%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/21/Screen%20Shot%202017-03-21%20at%201.04.40%20PM.png" alt="">
On housing, the Board has upped its rhetoric around the build-up of risks. The Minutes note that, “borrowing for housing by investors had picked up over recent months and growth in household debt had been faster than that in household income”. These comments coupled with the RBA’s acknowledgment that, “there had been a build-up of risks associated with the housing market” could be interpreted as the Bank calling on APRA to further place restrictions on lending to investors. In other words, watch this space. 
On the AUD, the Board notes that, “an appreciating exchange rate would complicate the adjustment of the economy”. We suspect that the RBA would have been expecting a March Fed rate hike to take some pressure off the AUD. 
But the currency has strengthened since the Fed tightened policy and is edging further away from where we think the RBA views the sweet spot (low USD0.70s).
The RBA’s well telegraphed reluctance to take the cash rate any lower has put more upward pressure on the AUD than would otherwise have been the case.
<a href="https://www.propertyobserver.com.au/images/2017/03/21/Screen%20Shot%202017-03-21%20at%201.05.39%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/21/Screen%20Shot%202017-03-21%20at%201.05.39%20PM.png" alt="">
The Outlook
We see little chance of further policy easing despite core inflation running below target and the unemployment rate being above the level associated with full employment. The consistent message from the RBA over the last six weeks has been that rate cuts are off the table.
When Governor Lowe appeared before the House of Representatives Standing Committee on Economics in late February he stated that, “the market pricing is for interest rates to be constant right through this year. That seems a reasonable proposition to me.” He further added that, “the main effect (of another rate cut) would be more borrowing for housing, pushing up housing prices.” This is clearly undesirable.
In our view, it would take a sustained loss of momentum in job creation or a fall in dwelling prices for Lowe to entertain the idea of taking the policy rate lower. Neither outcome is in our central scenario and as such, we see the RBA on hold over 2017 and well into 2018. 
 
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Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905">here</a>.
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jchancellor-FAypfDUnLy

RBA Board minutes confirm policy is on hold over near term: Gareth Aird

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The latest RBA minutes have noted recent data continued to suggest that there had been a build-up of risks associated with the housing market.
"In some markets, conditions had been strong and prices were rising briskly, although in other markets prices were declining.
"In the eastern capital cities, a considerable additional supply of apartments was scheduled to come on stream over the next few years.
"Growth in rents had been the slowest for two decades. Borrowing for housing by investors had picked up over recent months and growth in household debt had been faster than that in household income.
"Supervisory measures had contributed to some strengthening of lending standards."
The bank had recently announced its concerns for the apartment market, warning a flood of new apartments could come onto the market in certain areas could push down prices causing heavy losses for developers.
Last week bank research noted the rate of housing market turnover, or transactions, is on an “unusual decline” with a sharp rise in off-the-plan sales of apartments — which are difficult to measure in a timely manner — likely to be a factor.
According to the central bank, other potential reasons could be lower rates of home ownership, particularly for younger households, and migration trends.
A fall in housing market transactions directly affects the economy as it hurts tax revenue - which made up about 40 per cent of total state tax revenue in 2014/15, besides impacting the creation of more jobs and related occupations such as real estate agents, lawyers and the finance industry, the RBA noted last week.
The RBA’s latest bulletin says the decline in the national housing turnover rate in recent years has come despite “the strength in a number of housing market indicators such as national housing price growth, which has historically been positively correlated with the turnover rate”. 
It says part of the recent weakness could from measurement issues arising from the increased share of apartments in new housing construction. 
 
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RBA notes build-up of risks in housing market

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Minutes of the March Monetary Policy Meeting of the Reserve Bank Board
Members Present
Philip Lowe (Governor and Chair), Guy Debelle (Deputy Governor), John Akehurst, Kathryn Fagg, John Fraser (Secretary to the Treasury), Ian Harper, Allan Moss AO, Carol Schwartz AM, Catherine Tanna
Others Present
Luci Ellis (Assistant Governor, Economic), Christopher Kent (Assistant Governor, Financial Markets), Alexandra Heath (Head, Economic Analysis Department)
Anthony Dickman (Secretary), Andrea Brischetto (Deputy Secretary)
International Economic Conditions
Members commenced their discussion of international developments by noting that forecasts by private sector analysts for growth in the major economies in 2017 had been revised upwards since mid 2016. Growth in global industrial production and merchandise trade had picked up further and survey measures of business conditions had remained at high levels. Headline inflation in the major advanced economies had increased noticeably in recent months, largely as a result of higher oil prices, to be close to most central banks' targets. However, core inflation had generally remained low.
The Chinese National People's Congress had announced a growth target for the Chinese economy in 2017 of around 6.5 per cent (or higher, if possible), which is only slightly lower than the pace of growth recorded for 2016. This suggested that the authorities would continue to use policy to support near-term growth. However, policymakers had also increased their focus on addressing the risks to longer-term growth. The People's Bank of China had signalled a reduction in monetary stimulus, reflecting concerns about rising financial stability risks, and the target for growth in total social financing had been lowered slightly to 12 per cent. Additional measures had also been put in place to curb rapid housing price growth in some cities. Members noted that there had been a pick-up in the growth of non-bank and off-balance sheet lending.
In the United States, consumption had been the key driver of expenditure growth over 2016, supported by continuing improvements in labour market conditions. Investment intentions had picked up significantly and the number of active oil rigs had increased in response to the higher level of oil prices. Fiscal policy was also expected to be expansionary under the new administration and the US economy was expected to grow above its potential rate in 2017. Members noted that the volume of trade destined for the United States had fallen significantly as a share of total global trade since the late 1990s. Nevertheless, a move to more protectionist policies would still be damaging for the medium-term outlook for both the US and global economies. Above-average growth in unit labour costs, higher oil prices and more expansionary fiscal policy were all expected to contribute to a further rise in core inflation, which had increased since 2015 to be only a little below the Federal Reserve's goal.
The euro area and Japanese economies had grown faster than their potential growth rates over 2016, resulting in further improvements in labour market conditions. The unemployment rate in the euro area had fallen to its lowest level in seven years, while the unemployment rate in Japan had declined to a two-decade low. In both economies, core inflation had remained low, while headline inflation had increased, largely as a result of higher oil prices. In the euro area, headline inflation had increased to be consistent with the European Central Bank's target. Measures of inflation expectations in both economies had been steady or had increased.
Members observed that merchandise exports had picked up for the euro area and Japan towards the end of 2016. A significant increase in merchandise exports had also contributed to growth in East Asia. Members noted that the increase in global trade over the second half of 2016 had been underpinned by an improvement in global economic conditions, both for Australia's major trading partners and other parts of the world that were important sources of external demand for output from East Asia.
Australia's terms of trade had risen by around 15 per cent over the second half of 2016 and were expected to rise again in the March quarter. In February, prices for iron ore, base metals and crude oil had all reached their highest level in more than a year, although the price of coking coal had fallen from its peak in November. Some reversal in the terms of trade was still expected, although the recent improvement in global demand suggested that higher commodity prices could be more persistent than previously anticipated. Members noted that generalised strength in commodity prices tended to indicate an improvement in global demand conditions, but that factors affecting the supply of commodities had also affected prices.
Domestic Economic Conditions
GDP growth in the December quarter of 1.1 per cent had been above expectations. The outcome partly reflected the reversal of some of the temporary factors that had contributed to the fall in output in the September quarter. Most notably, there had been a solid pick-up in export growth in the December quarter; in addition, growth in both consumption and business investment had been higher than expected. Total nominal income had risen strongly, driven by growth in mining sector profits as a result of the higher terms of trade; in contrast, growth in labour incomes had been unusually weak.
The mining sector had contributed to growth in the December quarter, reflecting higher exports and an unexpected increase in investment. Members observed that some resource firms may have been able to increase their exports to take advantage of higher commodity prices by running down inventories. Consistent with previous staff forecasts, the capital expenditure survey of investment intentions continued to indicate that mining investment would fall further over the following year or so, but that the drag on growth would dissipate over this period.
Non-mining business investment had risen in the December quarter, largely as a result of higher non-residential construction, although machinery and equipment investment had also risen. Non-mining business investment had picked up over the previous two years or so and business conditions had been more positive in recent months. In contrast to these more positive signs, non-residential building approvals had declined further and the capital expenditure survey continued to suggest that, in aggregate, firms do not intend to increase their spending on non-mining investment over the following year or so. Members observed, however, that this survey does not cover some important sectors, including education and health, and also does not include investment in intellectual property, which has become an increasingly important share of non-mining business investment in the national accounts measure. Members noted that in most sectors there had been little evidence that non-mining business investment had been held back by lack of access to credit.
Dwelling investment had rebounded in the December quarter; much of the strength had been concentrated in New South Wales. Even though building approvals had fallen significantly in recent months, the substantial amount of building work in the pipeline suggested that dwelling investment would continue to contribute to growth in coming quarters. Conditions in established housing markets had continued to differ significantly across the country. Over recent months, conditions appeared to have strengthened in Sydney and had remained strong in Melbourne; these cities had continued to record brisk growth in housing prices, and auction clearance rates had remained high. Housing loan approvals and credit growth had picked up for investors, primarily in New South Wales and Victoria. In contrast, housing prices and rents had fallen in Perth for two years or so, and apartment prices had declined in Brisbane.
Rural exports had grown strongly in the December quarter, reflecting strong farm production following favourable weather conditions in many areas over the second half of 2016. As a result of this and the higher prices for bulk commodity exports, there had been a trade surplus in the December quarter for the first time in almost three years. The current account deficit had narrowed to less than 1 per cent of GDP, the smallest deficit since 1980; the trade surplus was partly offset by a widening in the net income deficit as some of the increase in mining profits had accrued to foreign owners.
Household consumption growth, which had been relatively subdued in mid 2016, picked up in the December quarter, consistent with retail sales. Liaison with retailers suggested that recent trading conditions had been around average and household perceptions of their personal finances had also been around average.
The pick-up in consumption growth stood in contrast to the ongoing weakness in labour incomes, with the household saving ratio declining in the December quarter. Members noted that over the past two decades movements in the Australian household saving ratio had been much larger than those in other similar economies. One contributing factor was likely to have been that Australia had experienced a much larger terms of trade cycle than other developed economies with significant commodity exports. Differences in the evolution of household saving ratios across the states suggested that the terms of trade had played an important role in households' saving and spending decisions.
Indicators of labour market conditions had remained mixed. Employment growth had picked up in recent months and the unemployment rate had edged down to 5.7 per cent in January. Leading indicators, including job advertisements and firms' employment intentions, suggested that there could be some pick-up in employment growth in the near term. Members noted that although experience had varied across the states, in recent years employment growth had generally been stronger in the capital cities than in regional areas. Employment growth had continued to be concentrated in part-time jobs over the past year and wage growth had remained low, suggesting that the labour market had not been quite as strong as the headline employment and unemployment rate figures had indicated.
The wage price index had increased by 1.9 per cent over 2016, in line with the staff forecasts. Subdued wage growth appeared to have been broad based and was most pronounced in mining-related industries and states. Average earnings per hour in the national accounts had fallen sharply in the December quarter, as had the wage bill as a share of nominal GDP. Although quarterly movements in average earnings per hour are volatile, this measure of wage growth had also been subdued in year-ended terms, continuing to suggest there was very little labour cost pressure in the economy. Members noted that the recent experience of low inflation may also have contributed to lower wage outcomes and that other business costs, such as rents, are often linked to inflation. Members observed that although credit growth was lower than in previous decades, it had been faster than the subdued growth in household incomes.
Financial Markets
Members commenced their discussion by noting that global financial markets had been relatively quiet over the preceding month, with market participants focused on evolving expectations about the upcoming US Federal Reserve meeting, the new US administration's policies and national elections in Europe in coming months. Globally, monetary policy remained very stimulatory and financing remained readily available on favourable terms.
Financial market participants' expectations for an increase in the federal funds rate at the March meeting of the US Federal Open Market Committee (FOMC) had risen to over 90 per cent. This followed continued positive economic news in the United States as well as statements by FOMC members. Members noted the widely held expectations for no change in monetary policy settings in the euro area and Japan, compared with the general view earlier in the previous year that further monetary easing was in prospect in these economies.
In major markets, 10-year government bond yields remained above their lows of mid 2016, reflecting the run of more positive economic news since then, as well as expectations that the new US administration's policies would support US growth. Members observed that, although euro area government bond spreads to German government bonds had increased over recent months in response to political developments, yields remained relatively low by historical standards. Corporate bond yields in developed markets remained very low, with spreads to government bonds having narrowed markedly over the previous year, particularly for non-investment grade bonds. Australian government bond yields had been little changed over the month and the spread to US Treasury yields had also been steady at a low level. As in other markets, Australian corporate bond spreads had narrowed over the preceding year.
Global equity prices had moved higher over the prior month in response to continued positive economic data. In the United States, financial sector share prices had increased strongly following the new administration's orders for a review of financial market regulations. In the euro area, banks' share prices had declined following lower-than-expected earnings, which were largely related to loan-loss provisions. Over the previous year or so, Australian share prices had moved broadly in line with those in the rest of the world excluding the United States, where share prices had risen further. Recent Australian company earnings results had been generally positive, driven by strong profits in the resources sector.
The US dollar had been little changed over the prior month in nominal trade-weighted terms, while the euro had depreciated a little against the US dollar, in part reflecting political uncertainty around the upcoming national elections. The Chinese renminbi had been broadly unchanged over the preceding month against the US dollar and in trade-weighted terms.
Members noted that the People's Bank of China had tightened monetary policy a little and indicated that further tightening was likely in response to rising inflationary pressures and to address leverage, including of financial institutions. The tightening had flowed through to increased corporate bond spreads; recent bond issuance in China had been weak after a sustained period of strength, although yields had remained low. In emerging markets more broadly, financial market conditions had been favourable and flows into emerging market funds had resumed as the global economic outlook had improved since mid 2016.
The Australian dollar had been little changed over the prior month and had remained more than 10 per cent higher against the US dollar and in trade-weighted terms since early 2016, reflecting the significant increase in commodity prices since then.
Members observed that Australian banks' funding costs and average outstanding housing and business lending rates were estimated to have been broadly steady over recent months. Interest rates had increased slightly over prior months for some investor and interest-only housing loans.
Financial market pricing indicated that market participants expected the cash rate to remain unchanged at the March meeting.
Considerations for Monetary Policy
In considering the stance of monetary policy, members noted that recent data had continued to support a more positive outlook for growth of Australia's major trading partners than had been apparent a few quarters earlier. A number of indicators, including growth in global industrial production, global trade volumes and business sentiment, had improved. Recent data had also confirmed the pick-up in global inflation. Financial market data suggested that the probability of the Federal Reserve increasing the federal funds rate at the March meeting had increased markedly and there was no longer an expectation of further monetary easing in other major economies. At the same time, however, there continued to be significant uncertainty about policy in China and the United States and the implications for global growth and trade after 2017.
Domestically, there had been a significant increase in the terms of trade in the second half of 2016 and many commodity prices had risen further in recent months. Although mining companies were expected to increase their dividend payouts following the sharp rise in mining sector profits in the December quarter, a significant proportion of shareholders are non-residents, which would limit the flow-through to an increase in household incomes in Australia. However, the fact that the recent increases in commodity prices had been supported by a pick-up in global demand raised the possibility that commodity prices could be higher than expected, in which case the flow-through to the domestic economy could be larger than currently forecast.
The Australian economy had continued to make its transition following the end of the mining investment boom, supported by the low level of interest rates and the depreciation of the exchange rate since 2013. GDP growth had picked up in the December quarter to be around 2½ per cent over 2016, which was only a little below estimates of the medium-term potential growth rate of the economy. This outcome confirmed that the weakness in the September quarter was temporary. Looking forward, year-ended growth was expected to pick up gradually to be above its potential rate over the forecast period. An appreciating exchange rate would complicate the adjustment of the economy following the end of the mining investment boom.
Momentum in the labour market remained difficult to assess, but it was clear that spare capacity remained and there continued to be significant differences in labour market outcomes across the country. Domestic wage pressures remained subdued and household income growth had been low, which, if it were to persist, would have implications for consumption growth and the risks posed by the level of household debt. Spare capacity was expected to decline slowly as momentum in the economy built; wage growth and underlying inflation were expected to rise, but only gradually.
Recent data continued to suggest that there had been a build-up of risks associated with the housing market. In some markets, conditions had been strong and prices were rising briskly, although in other markets prices were declining. In the eastern capital cities, a considerable additional supply of apartments was scheduled to come on stream over the next few years. Growth in rents had been the slowest for two decades. Borrowing for housing by investors had picked up over recent months and growth in household debt had been faster than that in household income. Supervisory measures had contributed to some strengthening of lending standards.
Given all of these considerations, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
The Decision
The Board decided to leave the cash rate unchanged at 1.5 percent.
For more information, go to the Reserve Bank website <a href="https://www.rba.gov.au" target="_blank">here</a>.
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Minutes of March 2017 Monetary Policy meeting of the Reserve Bank Board

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The cash rate may have been held for seven consecutive months, but this hasn’t prevented lenders from lifting mortgage rates independently of the Reserve Bank.
There have been 11 lenders including two of the big four banks announcing rate hikes this month, according to finder.com.au, Australia’s most visited comparison website.
A new analysis by finder.com.au reveals 11 lenders have declared rate rises for both variable and fixed home loans in March 2017.
Of the big four banks, ANZ, NAB and Westpac have announced rate changes this year.
While ANZ and NAB announced changes earlier this year, Westpac soon followed suit announcing rate changes just this month.
In March alone, NAB announced further changes with increases to its interest rates from 0.07 percent - 0.25 percent for variable rate home loans, while Westpac also raised its variable rates from 0.03 percent - 0.28 percent.
Despite increasing its variable rate, NAB implemented a new incentive for first home buyers by introducing its lowest home loan fixed rate of 2 years at 3.69 percent per annum.
Westpac is also providing a grace period until the 17th June by waiving the switching fee for interest-only home loans changing to principal and interest repayments. 
The average rate rise for owner-occupier loans in March 2017 across the big four that have adjusted rates (including NAB and Westpac) is 0.05 percent.
Taking this into account, a borrower with an average home loan of $357,200 with an average variable rate of 4.75 percent would need to pay an extra $11 per month if rates rose to 4.80 percent.
This amounts to $3,881 over 30 years.
Graham Cooke, Insights Manager at finder.com.au, says whether it’s to increase flexibility or boost profit margins, banks are under fire to manage stakeholder expectations while also dealing with the risk of an overheated property market.
For investor loans, more stringent regulations imposed by the Australian Prudential Regulation Authority (APRA) to curb investor lending may be prompting banks to up interest rates.
"Given recent rate increases, both owner occupiers and investors need to prepare for higher loan costs.
"It’s sensible to factor in 2-3 percent on top of your current mortgage repayments so you can cope with unexpected rate rises,” he says.
Variable home loan rate changes for March 2017
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="67">
Lender
</td>
<td valign="top" width="81">
Change
</td>
<td valign="top" width="166">
Loans affected
 
</td>
<td valign="top" width="78">
Date effective
</td>
</tr>
<tr>
<td width="56">
NAB
</td>
<td width="70">
Up 0.07% - 0.25%
</td>
<td width="156">
Variable Rate Home Loans (owner occupier + investor)
</td>
<td width="68">
24 Mar
</td>
</tr>
<tr>
<td width="56">
Westpac
</td>
<td width="70">
Up 0.03% - 0.28%
</td>
<td width="156">
Variable Rate Home Loans (owner occupier + investor and principal &amp; interest + interest only)
</td>
<td width="68">
24 Mar
</td>
</tr>
<tr>
<td width="56">
Bankwest
</td>
<td width="70">
Up 0.15%
</td>
<td width="156">
Complete Home Loan Package - Variable (investor), Premium Select Home Loan - Variable (investor) Equaliser Home Loan - Variable (investor)
</td>
<td width="68">
15 Mar
</td>
</tr>
<tr>
<td width="56">
Beyond Bank
</td>
<td width="70">
Up 0.10%
</td>
<td width="156">
Low Rate Special Home Loan - Variable (owner occupier)
</td>
<td width="68">
7 Mar
</td>
</tr>
<tr>
<td width="56">
Heritage Bank
</td>
<td width="70">
Up 0.10% - 0.11%
</td>
<td width="156">
Advantage Package Home Loan - Variable (owner occupier)
</td>
<td width="68">
14 Mar
</td>
</tr>
<tr>
<td width="56">
Illawarra Credit Union
</td>
<td width="70">
Up 0.05% - 0.15%
</td>
<td width="156">
Variable Lite &amp; Variable Home Loans (owner occupier)
</td>
<td width="68">
1 Mar
</td>
</tr>
<tr>
<td width="56">
IMB
</td>
<td width="70">
Up 0.05%
</td>
<td width="156">
Accelerator Home Loan - Variable (owner occupier)
</td>
<td width="68">
13 Mar
</td>
</tr>
<tr>
<td width="56">
Macquarie Bank
</td>
<td width="70">
Up to 0.05%
</td>
<td width="156">
Basic Home Loan - Variable LVR &lt;=80%, LVR &lt;=90% (owner occupier + investor), Offset Package Home Loan - Variable LVR &lt;=80%, LVR &lt;=90% (owner occupier + investor)
</td>
<td width="68">
6 Mar
</td>
</tr>
<tr>
<td width="56">
Macquarie Bank
</td>
<td width="70">
Down 0.05 - 0.10%
</td>
<td width="156">
Basic Home Loan - Variable LVR &lt;=90% (owner occupier), Offset Package Home Loan - Variable LVR &lt;=90% (owner occupier)
</td>
<td width="68">
6 Mar
</td>
</tr>
<tr>
<td width="56">
MOVE
</td>
<td width="70">
Up 0.30%
</td>
<td width="156">
Wealth Builder - Variable (investor), Flexi Home Credit - Variable
</td>
<td width="68">
1 Mar
</td>
</tr>
<tr>
<td width="56">
People's Choice Credit Union
</td>
<td width="70">
Up 0.19%
</td>
<td width="156">
Basic Home Loan - Variable (owner occupier)
</td>
<td width="68">
15 Mar
</td>
</tr>
<tr>
<td width="56">
Western City
</td>
<td width="70">
Up 0.05% - 0.15%
</td>
<td width="156">
Variable Lite &amp; Variable Home Loans (owner occupier)
</td>
<td width="68">
1 Mar
</td>
</tr>
</tbody></table>
 
Fixed home loan rate changes for March 2017
<table style="width: 392px; height: 476px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="67">
Lender
</td>
<td valign="top" width="81">
Change
</td>
<td valign="top" width="166">
Loans affected
 
</td>
<td valign="top" width="79">
Date effective
</td>
</tr>
<tr>
<td width="56">
Bankwest
</td>
<td width="70">
Up 0.15%
</td>
<td width="156">
Complete Home Loan Package - 2, 3, 4, 5 Years Fixed (investor), Fixed Rate Home Loan - 2, 3, 4, 5 Years Fixed (investor)
</td>
<td width="68">
15 Mar
</td>
</tr>
<tr>
<td width="56">
Beyond Bank
</td>
<td width="70">
Up 0.05% - 0.10%
</td>
<td width="156">
Fixed Rate Home Loan - 1, 2, 3, 4, 5 Years Fixed (owner occupier), Total Home Loan Package - 1, 2, 3, 4, 5 Years Fixed (owner occupier)
</td>
<td width="68">
7 Mar
</td>
</tr>
<tr>
<td width="56">
Heritage Bank
</td>
<td width="70">
Up 0.10%
</td>
<td width="156">
Fixed Rate Home Loan - 1,2,3 (owner occupier + investor), Advantage Package Fixed Rate Home Loan - 1,2,3 (owner occupier + investor)
</td>
<td width="68">
9 Mar
</td>
</tr>
<tr>
<td width="56">
IMB
</td>
<td width="70">
Up 0.10%
</td>
<td width="156">
Platinum Package - 2 &amp; 3 Years Fixed rate (owner occupier + investor), Fixed Rate Home Loan - 2 &amp; 3 Years Fixed Rate (owner occupier + investor)
</td>
<td width="68">
6 Mar
</td>
</tr>
<tr>
<td width="56">
MOVE
</td>
<td width="70">
Down 0.06%
</td>
<td width="156">
Lockit Home Loan - 1 Year Fixed rate
</td>
<td width="68">
1 Mar
</td>
</tr>
<tr>
<td width="56">
People's Choice Credit Union
</td>
<td width="70">
Up 0.05%
</td>
<td width="156">
Home Loan Package - 3 Years Fixed (owner occupier)
</td>
<td width="68">
15 Mar
</td>
</tr>
</tbody></table>
</body></html>

Out-of-cycle rate hikes shake up the Australian home loan market

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A proposed development in the Sydney suburb of Burwood to join two adjoining blocks and create around 1,000 new apartments has ben given an endorsement from state planning authorities.
Holdmark Property Group's planning proposal to develop four residential towers, ranging from 20 to 42 levels and an A-grade commercial office building on Wynne Avenue, fronting Railway Parade in Burwood has received a Gateway Determination by the Department of Planning and Environment.
Gavin Carrier, head of development for Holdmark Property Group, said the approvals were a terrific outcome for the growth and advancement of Burwood.
“Our consultant team has worked closely with Council to continually refine and improve our concept to create a really compelling solution for the centre of Burwood and we’d like to thank Council for their professionalism throughout this entire process," he said.
"We believe this project will be the making of Burwood for generations to come and, as the community’s representatives, Council has a very important role to play in shaping that opportunity.
<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/2017/03/17/cox_bur_view%2001_FINAL_bright.jpg" alt="">
“The involvement of not one, but two outstanding, multi-award-winning architectural firms has resulted in a magnificent and dynamic design that is not just visually stunning, but we believe really captures the aspirational spirit of the people of Burwood.
“It will be an iconic new landmark to signify the growing importance of Burwood as one of Sydney’s key strategic socio-economic hubs. 
We are now looking forward to continuing to work closely with Council, the community and our existing tenants to put all the necessary approvals in place for the delivery of this fantastic development.
"The project will now move through further consultations and approvals.
“Whilst the realisation of this vision is still subject to several more stages in the consultation and approval process, the positive Gateway Determination is a very important initial milestone to achieve."
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