New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

Joel Robinson

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

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.

[smartcode_project:default project_id=145922 project_image_fid=373556]

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."

[smartcode_project:default project_id=145922 project_image_fid=373559]

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.

[smartcode_project:default project_id=145922 project_image_fid=373583]

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.

[smartcode_project:default project_id=145922 project_image_fid=373571]

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.

[smartcode_project_cta:default project_id=145922]

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

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>

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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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Brisbane has plenty to offer entry-level investors within a reasonable distance from the CBD, according to HTW’s Month in Review: March 2017. 
The valuation firm says suburbs such as St Lucia or New Farm may be out of reach for first home buyers but addresses such as Runcorn, Calamvale, Drewvale, Doolandella, Salisbury, Coopers Plains, Heathwood and Forest Lake are much more obtainable.
However, the firm warns that while first time buyers are competing with investors in these locations, they still stand a great chance of finding their first home in these areas.
HTW says that older detached homes below $600,000 (which is the typical Brisbane median house price) are worth considering.
“Target something that’s had some wear and tear but still includes that key property component of location,” the report suggests.
“Nearby services and facilities are major factors in price growth.
“You can renovate the improvements, but you can’t relocate the real estate.” 
A four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-runcorn-124806998" target="_blank">1 Adamson Way</a>, Runcorn (above) has been listed for over $600,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-qld-drewvale-124849746" target="_blank">11 Linaria Circuit</a>, Drewvale (below) has been listed for over $699,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/15/11%20Linaria%20Circuit.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Runcorn, Calamvale and Drewvale top first home buyer targets: HTW 

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GUEST OBSERVER
The Sydney and Melbourne property markets have hotted up again and high house prices and household debt leave Australia vulnerable. But a property crash remains unlikely.
Expect average home prices to fall 5-10% once an interest rate tightening cycle gets underway in 2018-19. Sydney and Melbourne unit prices are most at risk.
More macro prudential measures to slow property demand are likely on the way. Alleviating poor affordability over the long term is best addressed by boosting supply. 
The cooling in the Sydney and Melbourne property markets evident in late 2015 in response to macro prudential tightening deployed by APRA has proved ephemeral. Price gains have reaccelerated and auction clearance rates &amp; lending to property investors have rebounded. Over the last five years Sydney dwelling prices have risen a ridiculous 73 percent and Melbourne prices are up 47%. As a result the Australian housing market continues to cause much angst around poor affordability and high household debt. This note looks at the main issues. 
<a href="https://www.propertyobserver.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2012.57.38%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2012.57.38%20PM.png" alt="">
Is Australian housing overvalued?
On most measures Australian housing is overvalued:
On the basis of the ratio of house prices to rents adjusted for inflation relative to its long term average Australian houses are 39% overvalued and units 13% overvalued.
According to the 2017 Demographia Housing Affordability Survey the median multiple of house prices in cities over 1 million people to household income is 6.6 times in Australia versus 3.9 in the US and 4.5 in the UK. In Sydney it’s 12.2 times and Melbourne is 9.5 times.
The ratios of house prices to incomes and rents are at the high end of OECD countries. 
<a href="https://www.propertyobserver.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2012.58.38%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2012.58.38%20PM.png" alt="">
Why is it so expensive and household debt so high?
There are two main drivers of the surge in Australian home prices over the last two decades. First, the shift from high to low interest rates has boosted borrowing and hence buying power. This has taken Australia’s household debt to income ratio from the low end of OECD countries 25 years ago to the top end. Second, there has been an inadequate supply response to demand. The following chart shows a cumulative shortfall relative to underlying demand had built up by 2014 and is still yet to be worked off despite record construction lately. 
<a href="https://www.propertyobserver.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2012.59.35%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2012.59.35%20PM.png" alt="">
Consistent with this, while vacancy rates have increased they have only increased to around average long term levels. In Sydney vacancy rates are below average.
What about investors and foreign buyers?
A range of additional factors may be playing a role in accentuating demand beyond that implied by population growth. These include negative gearing and the capital gains tax discount, foreign buying and SMSF buying. Negative gearing is just part of the normal operation of the Australian tax system.
However, the interaction with the capital gains tax discount by enhancing the after tax return available to property investment may be resulting in higher investment activity than would otherwise be the case. This may particularly be the case when past property price gains have been strong encouraging investors to think future gains will be too. While commitments to lend to property investors slowed in 2015 after APRA tightened macro prudential controls, this has since worn off. 
<a href="https://www.propertyobserver.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%201.00.29%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%201.00.29%20PM.png" alt="">
Foreign buying is likely also impacting – with indications that it is around 10-15 percent of demand – but it is also concentrated in particular areas and SMSF buying appears to be relatively small. But like lower interest rates, all of these should have a less lasting impact if the supply response was stronger.
Is a crash likely?
The surge in prices and debt has led many to conclude a crash is imminent. But we have heard that lots of times over the last 10-15 years. In 2004, The Economist magazine described Australia as “America’s ugly sister” thanks in part to a “borrowing binge” and soaring property prices. Most recently the OECD has warned of the risks of a property crash. However, the situation is not so simple:
Firstly, we have not seen a generalised oversupply and at the current rate we won’t go into oversupply until 2018 and in any case approvals suggest supply will peak this year.
Secondly, mortgage stress is relatively low and debt interest payments relative to income are around 2003-04 levels.
Thirdly, lending standards have not deteriorated like they did in other countries prior to the GFC. In recent years there has been a reduction in loans with high loan to valuation ratios and interest only loans are down from their peak.
Finally, generalising is dangerous. While prices have surged in Sydney and Melbourne, they have fallen in Perth to 2007 levels and seen only moderate growth in other capitals.
To see a general property crash – say a 20 percent plus average price fall - we need to see one or more of the following: a recession - which looks unlikely; a surge in interest rates - but rate hikes are unlikely until 2018 and the RBA will take account of the greater sensitivity of households to higher rates; and property oversupply – this would require the current construction boom to continue for several years. However, the risks on the supply front are high in relation to apartments.
What can be done to fix it?
Recent RBA commentary strongly hints that more macro prudential measures to tighten lending standards are on the way. These could include a further lowering in the 10% growth cap on the stock of lending to investors and tougher debt serviceability tests. This is in part about reducing the risks to financial stability when it’s too early to consider raising rates.
More fundamentally, policies to help address poor housing affordability should focus on boosting new supply, particularly of standalone homes which have lagged. This includes relaxing land use restrictions, releasing land faster, speeding up approval processes and encouraging greater decentralisation. This is largely a state issue. Policies designed to make better use of the existing housing stock (eg, by relaxing constraints on empty nesters downsizing) could also help. 
Policies that are unlikely to be successful include increased first home owner grants (as in periods of high demand they just result in higher prices) and allowing first home buyers to access to their super (again this will just result in even higher prices unless supply is fixed before and will mean less in retirement).
Tax reform should ideally be part of the package and include replacing stamp duty with land tax (again a state issue), removing the capital gains tax discount that is a distortion in the tax system and lower income tax rates to discourage use of negative gearing as a tax avoidance strategy. Piecemeal cuts to stamp duty targeted at FHBs will just result in higher home prices. Abolishing negative gearing would just inject another distortion in the tax system and could adversely affect supply (although I can see a case to cap excessive benefits).
What is the outlook?
Generalised price falls are unlikely until the RBA starts to raise interest rates again and this is unlikely until later in 2018, which after a few hikes will likely trigger a 5-10% pullback in property prices as was seen in the 2009 &amp; 2011 cycles:
Sydney &amp; Melbourne having seen big gains are most at risk.
Prices are likely to fall further in Perth and Darwin this year, but they are close to bottoming and should rise next year.
The other capitals are likely to see continued moderate growth this year and a less severe down cycle around 2019.
But units are at much greater risk given surging supply and this could see unit prices in parts of Sydney &amp; Melbourne fall by 15-20 percent as investor interest fades as rents falls.
What are the risks to the economy?
Slowing momentum in building approvals points to a slowdown in the dwelling construction cycle ahead. This combined with a slowing wealth affect from rising home prices means that the contribution to growth from the housing will slow. However, as this is likely to coincide with a fading in the detraction from growth due to falling mining investment and higher commodity prices it’s unlikely to drive a slowing in the economy. However, a likely decline in rents (as the supply of units hits) will constraint inflation helping keep interest rates low for longer. 
<a href="https://www.propertyobserver.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%201.01.58%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%201.01.58%20PM.png" alt="">
A property crash would have bigger impact given the exposure of banks, but as noted above such a development is unlikely.
Implications for investors
While there is a strong long term role for residential property in investors’ portfolios at present their remains a case for caution. It is expensive on all metrics and offers very low net income (rental) yields of 2 percent or less. This leaves investors highly dependent on capital growth.
But it is dangerous to generalise. Apartments in parts of Sydney and Melbourne are probably least attractive. Best to focus on areas that have lagged behind.
Finally, investors need to allow for the fact that they likely already have a high exposure to Australian housing. As a share of household wealth it’s nearly 60%.
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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soliver-smf6LQXgW9

Sydney, Melbourne property market hot, property crash unlikely: Shane Oliver

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A mixed-use converted industrial warehouse in Brunswick West is on the market with price expectations between $850,000 and $935,000.
The property, <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-brunswick+west-502331706" target="_blank">487 Victoria Street, Brunswick West</a>, Victoria is both a residence and Airbnb accommodation with existing plans and permits for an office and two bedroom home.
Built with concrete floors, exposed brick and timber trusses, the ground floor of the approved three level building has potential for modern office facilities with meeting and training rooms, kitchenette, partitioned office spaces and bike storage.
Plans for the top two levels are designed to offer open plan living and dining and a rooftop terrace.
Lydia Wild from Brad Teal Real Estate has the listing.
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Industrial chic in Brunswick West

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SPONSORED POST
It’s the start of a new year and many businesses may be looking to move office.
Moving an office is a huge challenge that can make moving house feel like a walk in the park – so we’ve collated our top tips for moving offices to make sure the process is as smooth as possible.
Before the move (planning)
<ol>
<li>With the floor plan for your new location, work out at which desk each person will sit.</li>
<li>Assign each desk a number. It’s easiest to sequentially number the desks.  Also alter the number pattern per department. For example, if all your Marketing people sit in one area, assign their desks numbers 100 to 150, your IT Team 200 to 220, Customer Service 300 to 340, and so on. It makes items and areas more easily identifiable.</li>
<li>People with individual offices should have a number assigned to the office.</li>
<li>Match your numbered floor plan with the staff members who will be assigned that desk/office.</li>
<li>Name communal spaces, up to you if you use names or numbers, just make sure they are clear.</li>
<li>Work with IT to ensure all data and power needs are ready (or will be ready) for moving day.</li>
<li>Confirm that you have all details to access the building and that there will be parking available for removalists.</li>
</ol>
Before the move (communications)
<ol>
<li>To the removalists – send them copies of your numbered floor plan so that they have an understanding of the layout ahead of time.</li>
<li>To staff – send clear instructions about the process of packing, along with a cut-off time to have their packing finished. Make sure they understand that any items that are not packed properly will be left behind and then disposed of.</li>
<li>To staff – send a map of the new location so they understand how to get there, where to park, what public transport is available, etc.</li>
</ol>
Before the move (packing)
<ol>
<li>Give each staff member his or her allocated desk number.</li>
<li>Tell staff members to number all boxes, computer screens, hard drives and furniture. Ideally, each item type should be labelled in the same spot (base of the computer screen, top of hard drive, etc).</li>
<li>Filing cabinets should be emptied and locked or taped closed for easy removal.</li>
<li>All keyboards, cables, phones etc should be placed in plastic bags and labelled with their allocated number.</li>
<li>Laptops, tablets and mobiles and any other valuable/personal items should be taken home rather than packed.</li>
<li>Items for shared areas such as kitchens or utilities rooms should be labelled in the same way they are on your floor plan.</li>
</ol>
Before the move (at your new location)
<ol>
<li>Post signs for the removalists with directions to each area. For example, ‘For Numbers 300-500, turn right’.</li>
<li>If you are moving desks into the space, use masking tape, or similar, to plot out where the desks should go. Label each space with its number. Obviously, make sure you’ve measured up ahead of time to make sure everything will fit.</li>
<li>If the office is already fitted out then label the desks with their location number.</li>
</ol>
During the move
<ol>
<li>Depending on the size of the move you may need to arrange to have company representatives at both locations; if there’s more than one truck working, someone needs to be at the new location to meet the first one that arrives while someone stays at the old location until the last of the trucks have completed their work.</li>
<li>Try to have the removalists work on one area at a time, especially in a bigger building. It will ensure you can be there to provide instructions and answer questions.</li>
<li>Wait until everything has been moved in before trying to connect phones and computers. This usually means waiting until the day after the move. You should aim to have all computers connected before staff return to work again.</li>
<li>Before staff return, do a quick check to see that the boxes and items on peoples’ desks correspond with their allocated number.</li>
<li>A nice touch is to create personalized desk labels for each staff member with their name, photo, job title and company logo and leave them on their new desks. It’s a nice surprise for staff and much more welcoming than the location numbers.</li>
</ol>
Before staff arrive
<ol>
<li>Check the building is safe for people to enter, that any rubbish has been removed and walkways are clear.</li>
<li>If the building is big, put up signage with directions for each team to find their way around.</li>
<li>Spot-check all facilities – make sure power, toilets, fridges etc are working.</li>
</ol>
For the latest commercial property news, inspiration and insights, please visit <a href="https://www.realcommercial.com.au/" target="_blank">www.realcommercial.com.au</a>
<h1> </h1>
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jchancellor-FAypfDUnLy

Smooth moves: An office relocation checklist

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Ray White Commercial NSW has achieved a 60 percent percent clearance rate with total sales of more than $11.3 million at their first in-house auction event of the autumn selling season.
Ray White Commercial NSW boss Jeff Moxham said three of the five properties sold under the hammer and a fourth with terms agreed shortly after the auction.
A DA approved residential development site at <a href="https://www.commercialrealestate.com.au/property/258-264-pennant-hills-road-thornleigh-nsw-2120-2013365659" target="_blank">258-264 Pennant Hills Road, Thornleigh</a>, (above) marketed by Michael Ajaka and Samuel Hadgelias was sold for $9.5 million under instructions from Bradley Tonks and John Vouris of PKF as Joint and Several Liquidators
Mr Ajaka said the approximately 1,510 sqm site approved for 73 residential apartments as well as five retail outlets was purchased by a Parramatta-based developer.
A free standing commercial building on a 889 sqm block at <a href="https://www.commercialrealestate.com.au/property/10-east-market-street-richmond-nsw-2753-2013356524" target="_blank">10 East Market Street, Richmond</a>, (below) was sold to a private investor who plans to develop the site by Jeff Moxham and Samuel Hadgelias for $1.3 million on behalf of Legacy NSW.
<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/2017/03/14/10%20East%20Market%20Street.jpg" alt="">
 A 63 sqm ground floor commercial office investment at <a href="https://www.realcommercial.com.au/property-retail-nsw-parramatta-502243862" target="_blank">3/4 Charles Street, Parramatta</a>, (below) was sold by Joseph Assaf for $620,000, which represented a sharp 3.6 per cent yield.
Terms have also been agreed on a Metro Petroleum service station and convenience store leased until 2023 with two five year options at 69 Davies Road, Padstow.
<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/2017/03/14/34%20Charles%20Street.jpg" alt="">
Mr Moxham said he was looking forward to a strong year with various sectors of the commercial markets showing positive signs, "in particular investment stock, yields continuing to compress with a wide demographic of investors chasing better returns than the low returns banks are able to currently able to offer.”
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j.ballantyne1990-6AQqhLzZaK

Autumn commercial property auction nets 60 percent clearance rate

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A three level commercial building in Sydney's Chinatown has sold at auction for $19.9 million.
The property, 82-84 Dixon Street, Haymarket, is on land sized 342sqm and has 14 metres of Dixon street frontage with a total lettable space of 983sqm.The ground floor features retail spaces, with upper levels retail and residential. Current tenants include the Hingara Chinese Restaurant and Live Crafts Centre.
Dominic Ong, Knight Frank’s head of Asian markets, Australia said the premium location of the Dixon Street property, as well as its redevelopment potential, made it a highly attractive opportunity for investors.
“There were over a hundred people at the auction, with multiple competing bidders," he said.
"Chinatown is a tightly-held area and opportunities like this don’t come along very often.
"The last standalone property to sell on Dixon Street, Pedestrian Lane, was some 30 years ago, and this property has been with the same family for about 100 years." 
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First-in-a-century commercial property sale in Sydney’s Chinatown

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Brisbane's Broadway Hotel in Woolloongabba will be the centrepiece of the $260 million neighbourhood mixed use redevelopment following a DA lodged with Brisbane City Council.
Majella Property Developments are set to redevelop  the 3420 sqm site, spanning 44 Balaclava Street and 85 &amp; 93 Logan Road, Woolloongabba.
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2011.24.34%20AM.png" alt="" width="675" height="412">
The DA proposes a multi-level apartment tower with a 262 one, two, three and four bedroom apartments as well as a three-level commercial and retail podium and 40 commercial sites.
The hotel, built in in 1890 and designed by John Hall &amp; Son was damaged by fire in 2010.
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2011.24.27%20AM.png" alt="">
Frank Monsour, Majella Group founder said some of the development profits from the apartment tower to restore the hotel which otherwise has been deemed to be economically unviable as a restoration project on its own due to the extensive damage suffered.
“Broadway will redefine this important precinct in Woolloongabba with heritage values central to the design," he said.
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2011.24.23%20AM.png" alt="">
“We are thrilled to be able to bring the Broadway Hotel back to life and develop a vibrant commercial precinct with food and dining central to the experience.
"We’re pleased to be bringing innovations to the Broadway development including centralised recycling, cutting edge Bloomframe windows and the largest automated car parking system in Australia.”
<img src="https://www.urban.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2011.24.16%20AM.png" alt="">
The residential development will feature rooftop facilities for entertaining and meetings, pools and a spa. It is designed by Elizabeth Anderson of Hayes Anderson Lynch Architects.
Construction is expected to start late 2017 and be completed in 2019.
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Historic Broadway Hotel and tower to breath new life into Woolloongabba

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Australian commercial property is seen as highly attractive by global investors with a total of $18.2 billion targeting Australia, owing to their high yields, stable economic outlook and open and transparent market, according to recent research. 
Australia is the world’s sixth most popular destination for investment capital in 2017, behind the US, China, UK, Japan and Germany, according to the latest Great Wall of Money Report by real estate firm Cushman &amp; Wakefield.
The report tracks the amount of newly raised capital, including debt and equity, targeting real estate at a global level. The total global wall of money has fallen by 2 percent compared with 2016, the first drop since 2011 but current levels are still the second highest on record, it says. 
Adjusted for investable market size, Australia is number second behind Sweden, said James Quigley, head of Capital Markets, Australia and New Zealand.
“Our comparatively high yields, stable economic outlook and open and transparent market help to ensure our commercial property is highly attractive to global investors,” he said.
While the total amount of available capital fell slightly, the amount of new equity raised increased by 5 percent over the past year. The overall decline is a function of reduced debt availability as a result of regulatory changes, lower gearing and currency movements.
For APAC, available equity increased by 1 percent since 2016, whereas in Australia this rose by 8 percent, up from $16.8 billion in the last year highlighting the relative attraction of the country as an investment destination. This builds on a substantial increase in the prior year, with capital targeting Australia up 20 percent from $15.1 billion since 2015.
“The data highlights the relatively advanced state of the global CRE cycle and the difficulty of finding assets that meet return criteria. While available capital remains high, fund raising activities have slowed as investors focus on deploying existing capital,” said Dominic Brown, head of Research, Australian &amp; New Zealand.
<a href="https://www.propertyobserver.com.au/images/2017/03/15/CushmanCRE.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/15/CushmanCRE.png" alt="">
In Australia, Q1 investment volume (as at March 9) is already nearly $5 billion, and remains on track to deliver the highest first quarter total since the $5.2 billion recorded in Q1 2011. 
This follows from a strong volume recorded in Q4 2016 of $9.7 billion. Of the total investment to date in the March quarter, foreign investment remained robust representing 52 percent of the overall transaction volume.
While New South Wales was the top destination for investment during 2016 of all states and territories with 37 percent of overall volume, Victoria and Queensland stand as the most traded destinations so far during the current quarter. During Q1 the most active purchasers have been unlisted funds, with unlisted funds and REITs the largest sellers.
“Demand for Australian CRE remains strong, though limited stock availability in 2016 caused Australian office and retail property transaction volumes to fall.” However, transaction volumes are expected to increase in 2017,” Dominic Brown said.
James Quigley added that “more stock is likely to come market as institutional owners look to dispose of non-core assets and more active traders offer repositioned assets for sale as they seek new opportunities”.
Turnover is also expected to increase in the Sydney CBD where Quigley estimates over $2 billion in stock is likely to come to market.
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Australia at No. 6 globally for commercial real estate investment: Cushman & Wakefield

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<div class="page" title="Page 1">
GUEST OBSERVER
The Westpac Melbourne Institute Index of Consumer Sentiment rose by 0.1 percent in March from 99.6 in February to 99.7 in March. 
The Index appears to be stabilising around that point where optimists and pessimists are around equal in number. The encouraging 2.3 percent lift we saw in the Index in February has been sustained in March.
In this survey we ask respondents for information on the news items that have affected their views and whether the news has been well received. This gives us an assessment of what may be on the minds of respondents.
<a href="https://www.propertyobserver.com.au/images/2017/03/15/Screen%20Shot%202017-03-15%20at%2010.51.27%20AM.png" target="_blank">Click to enlarge</a>
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As we saw in December the two dominant news categories were ‘economic conditions’ (27.9 percent of respondents recalled news on this topic) and ‘budget and taxation’ (25.2 percent). On both counts respondents saw the news as less unfavourable than had been the case in December. In particular ‘economic conditions’ showed a marked improvement.
It is also interesting to note that overall awareness of ‘budget and taxation’ news is down significantly from a year ago when 37.1 percent of respondents recalled news on this topic. That difference can be largely attributed to a fall from 17.6 percent to 3.7 percent in those respondents recalling news on taxation.
Other well-recalled news items covered: employment (15.7 percent,  up from 11.1 percent in December); interest rates (15.6 percent); and international conditions (12.0 percent). Despite no move by the Reserve Bank over the intervening period news on interest rates was much more positively received while the pessimism around international conditions eased. Respondents, who regularly assess the news on employment as unfavourable, were somewhat more concerned in this survey.
The Westpac Melbourne Institute Index of Unemployment Expectations fell by 3.1 percent in March pushing the Index back to around the levels in December. Recall that lower readings on the index mean more consumers expect unemployment to fall in the year ahead. Our take on the index is that respondents’ assessments of the unemployment outlook have stabilised around a level which is consistent with spare capacity consistently available in the labour market with little prospect of that spare capacity actually clearing.
There was one quite significant movement within the components of the Index: the ‘Family finances compared to a year ago’ sub-index fell by 5.3 percent. This component is now at its lowest level since June 2014 when respondents were shaken by the May Budget announcement.
However on that occasion the overall Index was much lower than we see today, indicating that, currently respondents are particularly concerned about their own finances. News from the December quarter national accounts that wage incomes had fallen by 0.5 percent is indicative of the source of these concerns. That news, of course, complemented other recent reports that wages growth had fallen to a record low of 1.9 percent.
Other components of the Index are less newsworthy. The ‘family finances, next 12 months’ sub-index fell 0.2 percent, the ‘economic conditions, next 12 months’ sub-index rose 1.6 percent; the ‘economic conditions, next 5 years’ sub-index rose 3.9 percent and the ‘time to buy a major household item’ sub-index dipped 0.1%.
Housing sentiment lifted in March. The ‘time to buy a dwelling’ index rose by 7.0 percent. However that increase only recovered the 7.8 percent fall in February. The recovery was mainly attributed to a sharp turnaround in Victoria where the state government has recently announced a range of new measures including abolishing stamp duty for first home buyers.
Despite this, the national index still seems to be drifting lower having fallen by 4.9 percent over the last year. That compares with the 13 percent fall we saw over the previous year. The Index is still around 25 percent higher than the deep lows we saw in the 2007/08 period.
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House price expectations continue to rise. The Westpac Melbourne Institute Index of House Price Expectations rose by 2.2 percent to be 26.7 percent above the level of a year ago.
Every quarter we also ask respondents for their preference for their savings. This can provide us with any evidence that consumers are becoming more or less risk averse. There was a notable shift in March with the proportion nominating ‘pay down debt’ jumping from 20.5 percent in December to 25.7 percent, and the proportion favouring real estate dropping to just 11.6 percent, a record low since we first started asking this question back in 1974. The moves indicate a clear increase in risk aversion.
The Reserve Bank Board next meets on April 4. The Bank will decide to keep rates on hold. Even though income growth and inflation are too low and there remains ample spare capacity in the labour market (unemployment rate of 5.7 percent compared to a ‘full employment‘ rate of around 5 percent) the Bank has no flexibility to cut rates. The evidence is clear that the rate cuts the Bank embraced last year in the face of low inflation fuelled house  prices and household leverage. The Bank is concerned about possible excesses in the housing market.
Markets accept the view that rates will remain on hold in 2017 but are pricing in at least two hikes from the Bank next year. We expect that growth in the economy will slow in 2018 as the residential construction boom unwinds. As we saw in today’s report households are concerned about their finances, largely because of weak income growth. This concern is unlikely to fade in 2018 appropriately constraining household spending and discouraging investment. That is no environment for higher rates. Accordingly, we expect rates will remain on hold throughout 2018 as well. 
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BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>. Justin Smirk is ‎senior economist, Westpac Group and can be contacted <a href="https://www.westpac.com.au/about-westpac/westpac-group/" target="_blank">here</a>.
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Time to buy dwelling index rises 7 percent: Westpac's Bill Evans

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Each fortnight I update my chart of the titles registry figures for Queensland, although I don't post the results here all that often.
When figures aren't seasonally adjusted, it pays to be wary of drawing conclusions from individual weeks or months of data. 
After all how many times have new home sales figures "peaked" in this cycle, or how may times has housing finance "tanked", or buying intentions "cratered", or consumer confidence been "smashed", and so on?
Every other month in each case, pretty much. 
By drilling trendlines through the titles registry figures you can see that Queensland's mortgage and transfers market has ground its way through a long, slow recovery since bottoming around late 2011. 
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<div>There was a blip in activity following APRA's initial salvo of macroprudential measures - and part of the increase in activity relates to a surge in multi-unit construction - but for now the uptrend in activity remains in place. </div>
 <div>Brisbane land values rise</div>
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<div>The Queensland Government updated its annual land valuations for 2017 last week, which showed a very wide range of outcomes across the state. The post-2012 malaise continues apace across many of the resources regions. There was more excruciating news for Gladstone which recorded another massive 20.6 per cent drop in median land values (although the Mayor kindly noted that residents shouldn't expect a reduction in their rates bill). Over the past four years Gladstone land values have recorded losses of -5.4 per cent, -14.6 per cent, -4.8 per cent, and -20.6 per cent respectively. Brutal, with land prices declining to just $113,000, Dwelling prices have often seen drops of well over 50 per cent since 2012, and in many case rents have fallen by at least an equivalent amount. The news wasn't much brighter in Mackay which racked up a third year of declines, and the Central Highlands saw land values fall for a fourth year, while Rockhampton saw land prices fall by 8.7 per cent from the preceding valuation date. Townsville has also recorded moderate declines across the last five years. There were bright spots, though, with the Gold Coast recording another year of recovery, and land prices notching up solid gains in Brisbane City Council (BCC), with the usual variances at the suburb level.</div>
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 It is wise to exercise caution in interpreting suburb level median land values, not least because the Queensland Government rather likes to see those rateable land values rising for all-too-obvious reasons (though rates aren't based only on land valuations, the Government assures us!). Changes in land use resulting from the BCC 2014 City Plan may also potentially skew the results in suburbs with increasing multi-unit development, for example. Nevertheless, the figures are well worth a look, for the Valuer-General's figures logically cannot diverge too far from the reality over the long run. Residential land values increased across some 132 Brisbane suburbs over the past year according to the 2017 report, although there were some declines in commercial and industrial valuations on the city fringe, according to the Valuer-General. Over the past couple of years the greatest dollar value increases have largely been seen in the inner suburbs where land values are highest. The following suburbs, for example, saw their median residential land values increase by $100,000 or more in only two years: New Farm, West End, Windsor, Wooloowin, Newmarket, Holland Park, Albion, Kedron, Annerley, Wilston, Carina Heights, and Carindale. A vast wave of Chinese money has also seen Sunnybank and Sunnybank Hills notch outlandish increases in land values since 2014, the pocket known as Brisbane's "Little Asia".</div>
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 The largest two-year gains in percentage terms have been driven by a popular school catchment, however. Suburbs located within the Mansfield State High School (SHS) catchment saw land prices rise by between 37 and 43 percent over the two-year period, including in the suburb of Mansfield itself, Wishart, Mackenzie, and Upper Mount Gravatt. </div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>.
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