It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Joel Robinson

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Spacious Group completes Voyage Altona in Altona's beachside precinct

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

<html><body>
Buy an apartment in Brisbane and get guaranteed rental income for a year, 3 years or even more, scream ads by developers on various websites targeted to property investors.
Sounds like a good deal? But as the adage goes, if it's too good to be true, it probably isn't.
Promises of such guarantees are sometimes used by developers to lure investors to a weak market or masking an overpriced offer, warns a post on hotspotting.com.au.
CoreLogic's Cameron Kusher noted in a <a href="https://blog.corelogic.com.au/2016/10/differences-unit-supply-sydney-compared-melbourne-brisbane/" target="_blank">blog post </a>in October 2016 that "Brisbane is set to see the biggest uplift in total unit stock followed by Melbourne and clearly in more immature unit markets this carries a risk".  
He highlighted inner-city locations in Melbourne and Brisbane as carrying the most risk from an oversupply of units. If everything is built over the next 24 months, unit stock in Brisbane Inner will increase by 33.6%, it will rise by 33.3% in Inner-North and by 32.5% in Holland Park-Yeronga.
This contrasts with 21.1 percent for Melbourne City and 10.4 percent for Inner-City Sydney.
Without passing judgement on the ads or the claims, Property Observer found a few offering rental guarantees in Brisbane.
Polo on Kingsley, a collection of three-bedroom townhouses starting from $699,000 in the Brisbane suburb of Yeronga promise a 5 percent rental guarantee for 12 months. The project is being undertaken by Polo Development Group and marketed by McGrath Projects.
Another builder, Dwyer Quality Homes, which has projects in Brisbane, the Sunshine Coast and Gold Coast, is offering three-year rental guarantees.
It also has an FAQ section that explains the scheme and lists all the positives. The website says the income “gives you guaranteed rental income and ensures peace of mind with your new investment.”
Sometime back, Domain reported that apartments were released in a 45-unit, nine-storey block The Woodstore with a <a href="https://www.domain.com.au/news/rental-guarantee-for-investors-in-new-brisbane-project-20150408-1mg26y/">6 per cent rental guarantee</a> for 12 months for the first five buyers… check status of that…
The two-bedroom apartments start at $450,000 in the development in Chermside, 9 km north of the city’s CBD.
“Chermside has such a strong rental market, with a lot of demand for properties – especially new ones! – that this sort of rental guarantee is no issue for us at all,” Murray Thornton, managing director of DevCorp, was cited as saying by Domain. 
There are a number of rental-guarantee investment ads on Gumtree as well.
One such ad is for <a href="https://www.propertyobserver.com.au/https://www.gumtree.com.au/s-ad/brisbane-city/property-for-sale/sky-tower-cbd-tallest-building-rental-guarantee/1138569153" target="_blank">Skytower at 222 Margaret Street</a>, which will be Brisbane’s tallest building when completed. Apartment prices start at $471,000 and comprise one, two and three bedroom apartments. 
Another seller has advertised for the luxury <a href="https://www.propertyobserver.com.au/https://www.gumtree.com.au/s-ad/newstead/property-for-sale/5-rental-guarantee-luxury-inner-city-investment/1136778752" target="_blank">Newstead project</a> where apartments are available in one to three bedrooms. The advertised price is $450,000 and upwards, and there is a 5% rental guarantee upon settlement. 
<img src="https://www.urban.com.au/images/2017/02/16/BrisbaneCoreLogic.png" alt="">
Rental guarantees or a trap?
Terry Ryder’s <a href="https://www.hotspotting.com.au/news/be-careful-with-rental-guarantees">Hotspotting</a> outlines a scenario of the trap behind rental guarantees.
“Developers offer them when they're struggling to sell apartments at the prices they want,” the post says. 
This is how they work:
A developer has a block of 100 units and wants to sell them for $350,000. But because it’s an oversupplied market, their true value is only $300,000 and it will earn a rent of only $300 per week. At a sale price of $350,000, the investor's gross return is only 4.5%. 
Investors won't be drawn in by those numbers.
So the developer offers rental guarantees to lure investors. He keeps the pricing at $350,000 and offers a rental guarantee $400 per week for two years. This provides a return of 6%.
For an investor, 6% is attractive and he also see two years of income security. However, the developer will lease the unit for $300 because it’s the market rate and pay the $100 shortfall to the investor. This costs the developer a little more than $10,000 over two years.
But the developer has been paid $350,000 for a unit that's worth only $300,000. He's $40,000 in front. For 100 units, he's made an extra $4 million by selling units for more than they're worth.
But the real pain for the investor starts after the two-year agreement expires. The investor has to find tenants in the open market which is oversupplied and he will in all likelihood not get more than $300 per week.
The investor's return falls to 4.5% from 6% overnight. Under the developer's guarantee, the investor was earning $21,000 a year. Now he's earning less than $16,000.
To compound the pain, the value of the unit has fallen because the income has fallen. If the investor decides to sell, he's competing with developers selling new units with deals guaranteeing a 6% return. The investor has to match that if he hopes to sell.
At $300 per week rent, the unit is worth only $260,000 in the open market (at 6%).
The investor’s annual income has fallen $5,000 ($21,000 - $16,000) while at the same time his unit is worth $90,000.
 
</body></html>

prateek24-ezbwHMbNAk

Rental guarantees for units in Brisbane... too good to be true?

<html><body>
Inner city suburbs such as Port Melbourne, St Kilda, South Yarra, Richmond, Carlton and Fitzroy are worth watching to see if they maintain the capital growth shown over the past few years, according to HTW's February 2017 update.
The valuation firm says that, in particular, established apartments offering functional floor plans and superior living areas are expected to grow due to their attractiveness compared to new off the plan stock.
With the continuing development of large apartment complexes outside the Melbourne CBD, these apartments are usually marketed for lower than off the plan apartments and often provide a superior product, the report says.
“The Melbourne apartment market however is one that should be treated with caution as the threat of oversupply looms large, with the RBA warning that the rush of apartments scheduled for completion in the next couple of years will constrain price growth and also impact rents,” HTW says.
“There is also the increased risk of off the plan apartments not settling upon completion.”
The firm says the inner north western apartment market should be treated with caution due to the large amount of supply particularly in the suburbs of North Melbourne, West Melbourne, Travancore and Parkville. This concern may be contributing to softening values.
At the average price of $950,000 an investor can purchase a house such as the one at <a href="https://www.realestate.com.au/sold/property-house-vic-north+melbourne-123638770" target="_blank">44 Bryon Street</a>, North Melbourne (above) that was sold for $990,000.
Similarly at the average price of $521,000 an investor can purchase a unit such as the one at <a href="https://www.realestate.com.au/property-apartment-vic-north+melbourne-124513242" target="_blank">307/139 Chetwynd Street</a>, North Melbourne (below) that is available for $520,000.
<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/2017/02/16/307_139%20Chetwynd%20Street.jpg" alt="">
“While North Melbourne had unit capital growth of 5.2%, there was negative capital growth in unit prices in West Melbourne of -19% (Core Logic, 2017).
It will be interesting to watch the performance of this submarket over the year ahead as more supply is released on to the market.”
</body></html>

jonathanchancellor-7SQnKwU6yx

Inner Melbourne buyers ditching off the plan for established units: HTW

<html><body>
Housing affordability has become a key concern in Australia, according to CBRE’s latest report.
Housing price growth over the past few years in markets such as Sydney and Melbourne have been well in excess of rent growth and household income growth.
Historically low interest rates have facilitated this strong price growth and consideration should be lent to the potential impact on pricing when interest rates rise again.
"Our modelling indicates that Sydney households would experience an 8ppt increase in mortgage repayments (as a proportion of median household income) if interest rates increase by 1ppt," the report advised.
The impact is less in other markets (figure 21) but considerable nonetheless.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Figure%2021.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/2017/02/16/Figure%2021.jpg" alt="">
"We expect that when interest rates do begin to rise (unlikely before 2018) that price growth in Sydney and Melbourne is likely to slow the most, partly closing the price gap that has expanded over other markets in recent years," the report stated.
Sydney building approvals are expected to decline in 2017 as more supply enters the market.
However, the housing construction boom should last longer than in other states because dwelling approvals are holding up better and the market isn’t oversupplied.
The outlook for Melbourne and Brisbane inner city markets is similar: soft rental markets due to new supply will result in sharper reductions in building approvals than nationally and prices for apartments will soften in response to high supply.
Perth remains constrained by softening population growth and weak statewide economic performance.
Oversupply will remain a feature of the Perth rental market during 2017 but price declines are expected to be less than 2016 levels.
Adelaide building approvals are likely to decline as a soft employment outlook limits the potential for population growth.
Canberra building approvals are expected to ease in 2017 as tougher lending conditions impact investor demand.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Housing affordability still a key concern for Australia: CBRE

<html><body>
<img src="https://counter.theconversation.edu.au/content/72966/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
It’s always fascinated me, the place that architecture holds in the public imagination.
I don’t mean that regular people frequently get carried away about buildings, which they generally don’t. I’m talking about the heady, even intoxicating way that architecture as a practice, and architects as practitioners, appear in popular media: on TV, in movies, in books, in toys and games, and increasingly also in art galleries.
The idea of architecture, as a constructive kind of daydreaming, remains strikingly potent in fiction and pop culture. By extension, the idea of architects themselves as feverishly creative individuals, conjuring new worlds into being, remains (sometimes quite literally) seductive.
As a result, if I had a dollar for every stranger who has confided in me (often quite shyly, perhaps a little disappointedly) that they always wanted to be an architect, I would at this moment be retired and lying on a beach.
The construction is almost entirely fantastical. Ask any architect about their actual working life and they will tell another story altogether – albeit one with its own satisfactions and fulfilments.
But the fact that these ideas are fanciful doesn’t diminish their power; and to try and debunk them would anyway be missing the point: they are whimsies, wishful thoughts, romantic reveries. People really seem to want architecture to be this otherworldly, world-making activity. Or maybe they want to believe we live in a world where such wondrous transformations and constructions are possible. Whatever the reason, architects get an awful lot of good press.
(Actually they also get a fair bit of bad press: it’s an eternal irony that architects are on the one hand charged with keeping alive all our most treasured dreams about inspiring places and ways of living, and on the other condemned as out-of-touch prima donna aesthetes who make (ugly) art with other people’s money).
I’ve written about all of these issues before (forgive the shameless self promotion): about how such ideas manifest in childrens’ books and about how the popular conception of architecture seems to link it inexorably with play – framing architectural design as the exercise of childlike creativity; architectural drawings and scale models as dramatic props; architectural instruments as toys; and the work of architects as really a frolic: hardly work at all.
Then, a few weeks back, I saw yet another example of the phenomenon – and it got me thinking again.
Imaginary Architecture
Imaginary architecture was an interactive, “all ages” installation at the Melbourne Arts Centre, which ran for several weeks in January. Conceived by artist Lara Tumak, the exhibition was commissioned by the Arts Centre, following an earlier incarnation developed with ArtPlay – the City of Melbourne’s dedicated children’s cultural centre and program of art workshops.
The installation posed the question, “is it possible to create architecture out of nothing more than dreams?”
Of course in the real world the answer is, emphatically, no. But in the realm of art, and furthermore the realm of fiction and play, of fantastical exploration and imagined occupation, then anything is possible, and architecture becomes an incredibly rich field of conjecture and concoction.
The Imaginary Architecture installation was mounted in the dim downstairs of the Arts Centre, in a space that is as much theatre as foyer, and from the outside it looked like a pile of cardboard boxes. At intervals, mysterious sounds would emerge from within, and coloured lights would flicker and flash. 
A perimeter of large appliance boxes piled up to form a loose enclosing wall, which you entered through a cardboard arch, at the scale of a child, forcing adults to bow their heads. Within, smaller boxes were stepped and stacked all over.
Each of these little boxes had been contributed by a visitor who, having been encouraged to bring a biscuit or cereal or shoe box of their own, could make their own scene inside the box, using art supplies and materials provided. They could then choose to add it to the colony.
Attendees were each given a torch to shine through a specially-made aperture in the top of each box, revealing the scene inside.
The dioramas were inventive, and evidently mostly by children. Some had set a whole house within the box/room, others created outdoor scenes – dinosaur habitats, playgrounds, cemeteries. I saw a pet adoption centre, and a room full of hanging clothes. There were of course many bedroom scenes, with little cardboard kids inside, doing their own things. The attendant told me that some of the most popular had been undersea worlds, and party scenarios.
My own little boy worked diligently to make a paper campsite inside a shoe box - a person sleeping in a tent, under a blanket, while outside a river flowed by. He specified that it was night time, and that there was a “golden night-fish” in the river. It was very serious business.
Working your way around the installation, lining up your torch at the top and illuminating each little interior in turn, was like peering into the windows of innumerable strange and wonderful buildings. But even more than that, it was like peering into other possible realities.
The city as collective space
The installation, unassuming as it was, offered some profound observations.
First was its proposition about urbanity: to me it seemed a new take on showing the human life of a city (as opposed to, say, its infrastructure or built form). It framed the city as a collection of fantastical rooms: as the stacked accumulation of many lives, a colony of people each in their own separate spaces, each engaged in their own pursuits.
Like the lit windows of apartment buildings at night, each box thus represented a life taking place: separate, distant, unknown and yet familiar. This seemed a strangely compassionate vision of cities, of the commonalities of humankind, even alongside its multitudinous, mysterious difference. The vision is humanist without being nostalgic: this is how so many of us now live, in cities, this is how we co-exist in urban space, piled neatly one upon another.
Perhaps one of the reasons that architecture and cities are so frequently appearing in art galleries these days, as an instrument of interaction and “immersive” engagement, is precisely because they represent such collective activity. Like a coral reef or an ant colony, a city is the result of thousands and millions of individual agents, coming together in cooperation.
The interior life, not the exterior form, of architecture
Another refreshing aspect of the installation was its focus on the inner life of architecture – on rooms, and what goes on inside buildings, rather than their external form. With cardboard boxes as literal building blocks, the show was not about “signature” design or buildings as novel sculptural objects.
In this sense it was the opposite of another very popular recent instance of architecture in the art gallery - Olafur Eliasson’s The cubic structural evolution project. That work, recently reprised as part of Queensland’s Gallery of Modern Art’s 10-year celebrations, involves visitors making and remaking a city of white Lego, constructing teetering towers and elaborate, lace-like forms.
I saw that same work at the City Gallery Wellington in their intriguing 2015 show Demented Architecture, and it was amazing to see adults and children alike sitting down, with such commitment and concentration, to build a city together.
But while Eliasson’s work is clearly engaging, and very well loved by public audiences, Tumak’s Imaginary Architecture is another proposition altogether. It is a show about interior space and scenography and human action - the kinds of (both possible and impossible) things that people might conceivably do in a room.
We might even say it was a show about interiority: the quality of insideness that interiors have, and the sense that buildings have a secret and perhaps completely unexpected life going on within, which can rarely be read from the façade.
In this way, the interior becomes a metaphor for imagination itself. The inner life of rooms reflects the inner life of people. Dream homes are not only made from dreams, they are homes for dreams: places where whimsical ideas can take refuge from an increasingly frightening, turbulent world.
Maybe this is why architecture still holds such a particular place in the popular consciousness: it seems to provide a shelter and occasion for the play of the imagination.
Naomi Stead is Professor of Architecture, Monash University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/naomi-stead-108029" target="_blank">here</a>. 
 
</body></html>

jchancellor-FAypfDUnLy

Dream homes: Architecture and popular imagination

<html><body>
At the end of 2016, 7.6 percent of suburbs nationally had a median house value under $200,000 and 5.9 percent of suburbs had a median unit value below $200,000.
To put these figures into some perspective, 11.4 percent of suburbs had a median house value of at least $1 million and 3.0 percent of suburbs had a median unit value of at least $1 million.
Mr Kusher found that over the five years to the end of 2016, a substantial decline occurred in the proportion of suburbs with a median value below $400,000.
As a comparison, at the end of 2011, 53.5 percent of suburbs had a median house value of less than $400,000 and 69.8 percent of suburbs had a median unit value of less than $400,000. By the end of 2016, the proportion of suburbs with a median value of less than $400,000 fell to 41.0 percent for houses, and 55.3 percent for units.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.39%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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.39%20am.jpg" alt=""> 
Looking back at the individual capital cities over the past five years highlights a significant shift in the proportion of suburbs with a median value under $400,000, particularly in Sydney and Melbourne.
Today’s analysis revealed that five years ago, with the exception of Darwin and Canberra, every capital city had at least 20 percent of its suburbs with a median house value of less than $400,000.
At the end of last year, it was virtually impossible to find houses for less than $400,000 in Sydney, Darwin and Canberra while less than 7% of suburbs had a median house value below $400,000 in Melbourne.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.46%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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.46%20am.jpg" alt="">
We noted that across each city there has been a substantial decline in affordable housing over the past year despite the fact that outside of Sydney and Melbourne there has been only moderate value growth over the period.
Even units recorded a fairly substantial decline in the proportion of suburbs with a median value of less than $400,000 over the past five years.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.54%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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.54%20am.jpg" alt="">
For those earning a relatively low income in Sydney and looking to buy a house or unit, they are competing for a rapidly declining pool of housing stock across the city.
The pool is also declining across the remaining capitals, albeit not at the same pace of decline as in Sydney.
Key Findings:
• At the end of 2016, looking at both houses and units, 20.5 percent of Sydney suburbs had a median value of less than $600,000 compared to 38.5 percent of suburbs having a median value of at least $1 million. To further highlight deteriorating housing affordability in Sydney, 34.6 percent of suburbs had a median unit value of less than $600,000 at the end of 2016. In each other capital city, a higher proportion of suburbs had a median house value of less than $600,000 than the proportion of suburbs with a median unit value of less than $600,000.
• In 2011, the proportion of total suburbs with a median house value below $400,000 across each capital city was: 21.2 percent in Sydney, 28.9 percent in Melbourne, 40.9 percent in Brisbane, 40.5 percent in Adelaide, 31.1 percent in Perth, 69.2 percent in Hobart, 2.1 percent in Darwin and 1.1 percent in Canberra.
• Units offered a more affordable option highlighted by the proportions of suburbs values below $400,000 at: 38.8 percent in Sydney, 48.2 percent in Melbourne, 81.7 percent in Brisbane, 94.3 percent in Adelaide, 59.8 percent in Perth, 92.7 percent in Hobart, 53.3 percent in Darwin and 44.6 percent in Canberra.
• The proportion of suburbs with a median house value of less than $400,000 at the end of 2016 was recorded at: 0.1 percent in Sydney, 6.3 percent in Melbourne, 29.2 percent in Brisbane, 28.0 percent in Adelaide, 18.9 percent in Perth, 52.1 percent in Hobart and 0.0 percent in Darwin and Canberra. For units the proportions were recorded at: 6.5 percent in Sydney, 31.8 percent in Melbourne, 62.7 percent in Brisbane, 85.1 percent in Adelaide, 46.4 percent in Perth, 88.4 percent in Hobart, 57.6 percent in Darwin and 45.8 percent in Canberra.
<a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.21.01%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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.21.01%20am.jpg" alt="">
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
</body></html>

ckusher-ujnxiKuFQs

The heightened decline in suburbs under the $400,000 median: Cameron Kusher

<html><body><div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
GUEST OBSERVER
On a state basis, NSW is the standout, with private non-residential building work done rising since late 2012. 
Work done in the retail, office, aged care and entertainment have driven the increase. More recently the construction of new office space has slowed. 
After trending higher since 2011, non-residential building work has declined in Victoria over 2016. The recent decline has been largest in health and warehouses, although this follows strong growth previously. There has been a solid lift in work done in the retail sectors over 2016. Non-residential building work has also risen at a solid pace in Queensland. There has been a particularly large lift in construction in the tourism, education, health and aged-care sectors.
<a href="https://www.propertyobserver.com.au/images/2017/02/17/Screen%20Shot%202017-02-17%20at%208.41.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/17/Screen%20Shot%202017-02-17%20at%208.41.55%20AM.png" alt="">
Non-residential construction remains soft in both WA and SA. In WA, office building has more than halved as the effects of the mining downturn are still playing out. Despite the decline, office space remains oversupplied in Perth with vacancy rates increasing sharply since 2012.
In SA, construction in the commercial and industrial categories has declined over the past two years. However this is partly offset by a lift in health, tourism and education. 
In the public sector, non-residential construction has picked up a little in most States.
What’s in the pipeline?
The approvals data also shows us the value of building work in the pipeline. Private sector non-residential approvals have lifted strongly since September 2016 for all the broad categories. Approvals translate into actual work done with different lags depending on factors such as the size of the project and the industry. However most approvals translate to work done with a lag of between three and twelve months. So the recent lift in approvals means stronger building activity in 2017.  
Within commercial approvals both retail &amp; wholesale and office approvals have lifted strongly in the States of NSW, Victoria and QLD. Approvals for building in the “other” category have also picked up driven by rising approvals in accommodation, entertainment, health and aged care. NSW and Victoria are behind the increase, with approvals down in Queensland and flat in WA and SA 
Industrial approvals have lifted too, due to rising approvals in Victoria and QLD. In QLD there has been a lift in approvals for factories, warehouses and agriculture. In Victoria approvals for warehouses and agricultural have picked up.
Public sector non-residential approvals have also lifted in recent years. However approvals have turned down a little in recent months. This is largely due a drop in approvals in NSW and VIC 
Going further through the pipeline, the building work yet to be done data shows the estimated value of remaining work on buildings that have been started but not yet completed. The amount of building work yet to be done has been broadly steady over 2016.
The pipeline of commercial building work done has fallen as the amount of office building yet to be done has declined sharply. However there has been an offsetting lift in work yet to be done in the industrial and other category. Within the other category work yet to be done in accommodation and aged care have lifted sharply. And education has risen too. In the industrial category, work yet to be done in factories and agriculture has lifted. 
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" target="_blank">here</a>.
</div>
</div>
</div>
</div></body></html>

Private non-residential building work a standout in NSW: Gareth Aird

<html><body>
GUEST OBSERVER
The Premier, Gladys Berejiklian’s reason for continuing with Sydney council mergers is to increase housing supply but approvals are dropping partly due to the confusion of the merger process.
The NSW Government decision to continue with council mergers will be good in the longer term for more effective planning processes but the transition phase is likely to slow down housing approvals.
The Premier has stated the advantage of council mergers is to increase housing supply and improve planning but over the next two years the amalgamation process is likely to make planning more complex.
The Government must take a stronger role in driving housing supply during the transition to larger more efficient councils by unlocking large housing projects caught up in the planning system. The Urban Taskforce is aware of over 30 large housing projects caught up in the planning process that could be turned into real projects. Some of these projects have holding costs of hundreds of thousands of dollars a month.
The continuation of the merger process needs to be accompanied by a fast track approach to large housing projects during the transition process. The Minister for Housing, Anthony Roberts, should establish an action team under a Commissioner for Housing Supply for a two year period to lift housing approvals.
While the increase in housing completions to 33,000 for Greater Sydney is good news this needs to be balanced by falling housing approvals. The Australian Bureau of Statistics data shows the housing approvals in NSW dropped by 25 percent between July and December 2016.
The Urban Taskforce is keen to work with Housing Minister Anthony Roberts to suggest ways to increase housing supply and housing affordability.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.WKTDGTt942x" target="_blank">here</a>.
</body></html>

elalademann0606-LAMLni4EAX

Premier needs to take a stronger role with housing supply during the transition to merged councils: Chris Johnson

<html><body>
GUEST OBSERVER
For the last two weeks, I have been in the US visiting investors; hedge funds; corporates and officials.
I still have more meetings to complete, including with other Fed officials, but I would like to set out some assessments so far.
One debate is whether current pricing for interest rates; the USD; and the stock market is dependent on a successful fiscal policy outcome for Trump. Alternatively, pricing might be factoring in some economic reform (particularly banking) and not much more. The answer is probably that the share market is more optimistic about a successful policy outcome than the bond market. Bank deregulation (freeing up bank lending) would be stimulatory as long as confidence holds and, with the Fed now proclaiming that the US economy is at full employment, the higher bond rates are justified. However, if the share market needs a successful fiscal plan (centred on tax cuts) to hold current levels, then equities would be vulnerable to a marked sell off in the share market should the plan prove to be elusive.
The problems with a significant tax cut are manifest. It seems that there are around five Republicans in the deficit hawk camp who are firmly opposed to any policy that is not "revenue neutral" and five are "soft no's". The current controversy over Russia will only harden opposition within the party.
Failure to deliver a package by the summer would expose the initiative to a Democrat filibuster. The Ryan/Brady Plan, which was laid out last summer when the Republicans appeared unlikely to win the Presidential Election, does deliver a revenue neutral result (after assuming a fairly optimistic growth response to the plan) but it requires the Border Tax (featuring no tax deduction for costs of import_s and no tax on export sales). This would be an effective tax on the trade deficit. Such a tax would be hugely disruptive and is encountering significant opposition, we understand, from within the White House. Other "nasties" in the Ryan/Brady Plan are to allow interest cost or state tax deductions and no real allowance for retaliating moves from trading partners.
Another possible funding channel might be to impose large tariffs to help fund the tax cuts and achieve some of Trump’s protectionist objectives. Tariffs can be introduced by Executive Order without the need to go through Congress, although they may be subsequently challenged in the courts and by the WTO.
Overall, arbitrary tariffs are likely to be a more distortive mechanism than the Border Tax. However, that option, linked with some unpopular entitlement reform, might be back-end loaded and more modest tax cuts might constitute a plan that could be manipulated to “look” revenue neutral.
In such circumstances, the USD would rise further but the inevitable response from other trading countries would likely trigger a disruptive trade war – the recent encouraging lift in global PMI's and global equity markets would soon dissipate.
It was disappointing to hear generally, that infrastructure reform was a low priority well behind dismantling the Affordable Care Act, tax cuts, banking deregulation and trade. For instance, Trump could establish an infrastructure bank capitalised with $150-$200 billion in Federal funds. That would be funded by the repatriation of deferred foreign profits (taxed at 7.5% - 10.0%) and geared at 6x1 with a Federal government guarantee (the impact on the deficit would only be the funding cost). That would deliver on a key promise and probably gain full Democrat support along with enough Republicans to pass Congress. Such an initiative would encourage growth optimism and, if well managed, boost productivity expectancy.
Alternatively, there could be a national effort to privatise current infrastructure (for example, most toll roads are state owned) with a commitment that funds would be reinvested in other infrastructure assets (not used to fund other contingent liabilities of the state). Complex issues between city/local/state/federal governments would need to be resolved with a likely solution being that the Federal government would need to provide incentives to the cities and states to sell the assets.
There are solutions to the successful implementation of an infrastructure plan. If markets saw genuine progress in banking and other sectorial deregulation along with an infrastructure plan, the inevitable shock to confidence that is likely to occur in the summer if trade and unfunded tax initiatives dominate the agenda could be avoided.
So where does the Fed stand in all of this uncertainty? I expect that it will be comfortable to "skip" a March move until we see more clarity on these issues and, more import_antly, the impact such developments have on confidence and markets. For example, the Fed sees that "financial conditions" have eased due to narrowing credit spreads and a rising stock market despite higher rates and a higher USD. A reversal in markets would tighten financial conditions and associated drop in confidence would force a review of the growth outlook.
I also expect that the "asymmetric" approach to policy-setting is still a key majority view amongst FOMC members - better to err on the side of higher inflation than risk entrenched low inflation. With the slow response from wages to "full employment", there is little risk of getting too far behind the curve. On the other hand, I assess that the Chair now believes that the US has reached full employment and, therefore, the normalisation process should proceed (but with two hikes not three in 2017).
I remain comfortable with the June/December call for Fed policy in 2017.
What do investors think of all these issues for Australia? In short, the key channel will be Trump’s trade policies. Any indiscriminate large tariff or Border Tax would pressure China's foreign reserves and growth outlook. This would likely trigger a protectionist response from China, which while not impacting our resource exports, would most likely threaten our services exports to China.
My central thesis is that the Australian economy is likely to slow in 2018 due to a construction downturn and falling terms of trade. Commodity prices are likely to fall sharply under the weight of a supply response from Australian and Chinese (private) producers; an unwinding of speculative positions in China; and a slow-down in growth associated with a resumption of reform in China following the November Congress.
Downward pressure on the AUD will only intensify in the event of Mr Trump taking the “trade option”. 
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>. 
</body></html>

Trump; trade and the FED: Bill Evans

<html><body>
GUEST OBSERVER
The insecurity of rental housing and unsatisfactory condition of many properties are receiving much-deserved media attention following the release of a national survey of tenants.
However, the stock response to the insecurity this revealed – longer fixed-term agreements – is not the answer. The solution to the failure of existing legal protections must take into account the structural features of the rental market, including the mobility of tenants.
The survey, commissioned by Choice, National Shelter and the National Association of Tenant Organisations, presents evidence of a widespread sense of worry, dissatisfaction and injustice on the part of tenants. According to respondents:
75 percent feel that competition for rental properties is “fierce”;
50 percent are concerned about being “blacklisted” on a tenancy database;
50 percent have experienced some form of discrimination;
30 percent live in properties requiring non-urgent repairs, and 8 percent require urgent repairs;
11 percent experienced a rent increase; and
10 percent reported an angry response after requesting repairs.
Residential tenancy laws cover many of these problems. That tenants are not successfully exercising their legal rights indicates a deeper problem of insecurity in renting. This problem is both structural and legal.
Small landlords and mobile tenants
Small landlords dominate the Australian rental sector: 72 percent own a single property each. Most (62 percent) make a net rental loss, so it is important to them that they can switch out of the sector when it suits them.
Research for the Australian Housing and Urban Research Institute (AHURI) indicates that 21% of landlords exit the sector within their first 12 months. By five years, 59 percent will have exited.
When landlords exit, they might sell to another landlord or an owner-occupier. Older research indicates that the transfer of rental housing into owner-occupation is a significant feature of the Australian market.
These dynamics cause structural insecurity for tenants. They also mean many landlords do not willingly tie up their sole asset in a long fixed term.
Despite the legal and structural insecurity of the sector, most moves by tenants are for their own reasons.
The ABS Housing Mobility and Conditions survey shows that tenants generally are very mobile: 81% have been in their current premises for less than five years. About half of moves between rental premises were for “personal reasons” (including family and employment reasons); 20 percent were to get more suitably sized housing; and 15 percent because of a termination notice from the landlord.
This degree of mobility suggests it is not in most tenants’ interest to enter into long fixed terms and the rental liability it entails. That’s not to mention the risk of being tied to a small landlord who is an unknown quantity and has no business reputation to protect.
Residential tenancies law in Australia
Each state and territory in Australia has its own Residential Tenancies Act. These differ in the details but are broadly similar in outline. All provide standard terms for tenancy agreements, processes for rent increases and terminations, and relatively accessible dispute resolution and eviction procedures.
Most do a decent job, on paper at least, when it comes to repairs and maintenance. Generally speaking, landlords are obliged to ensure rented premises are provided fit for habitation and maintained in a reasonable state of repair.
This means tenants are entitled to repairs even if the premises were in bad condition to begin with, and even if they pay relatively low rent. Tasmania is an exception: there, landlords are obliged to maintain premises in the condition in which they were first provided.
Similarly, each state and territory prohibits landlords from interfering in tenants’ quiet enjoyment of their premises. Most expand this right to protect tenants’ “reasonable peace, comfort and privacy”.
A key problem is that the ability of landlords to give notices of termination without grounds undermines existing protections. Philip Robins/AAP These are important protections, even though there may be scope to improve them – for example, by adding specific standards for safety devices and fixing particular legal defects like Tasmania’s. The great problem is that the ability of landlords to give notices of termination without grounds undermines the existing protections in every state and territory.
Without-grounds termination notices give cover to terminations by landlords for bad reasons, such as retaliation and discrimination. This means the prospect of receiving such a notice hangs over tenants when repairs and other issues arise.
What’s the solution, then, to high insecurity?
The legal insecurity of tenants might be improved in several ways.
Under the current laws of each state and territory, a fixed term prevents the landlord from terminating without grounds, and on other grounds such as sale or change of use of the premises, for the duration of the fixed term. It also prevents the tenant from lawfully terminating without grounds.
The idea of long fixed-term tenancy agreements is occasionally raised in the media and has caught the attention of the New South Wales and Victorian governments in their reviews of residential tenancies laws. Both those governments are considering how to facilitate long (five-year) fixed terms, including by altering other aspects of their laws – such as the protections about repairs.
But this approach presents problems of its own. Long fixed terms are unwieldy for landlords and tenants. Trying to make them more useful also threatens other valuable legal protections.
The present structures of the Australian rental sector call for different reforms.
We can reconcile the mobility of tenants with their sense of insecurity if we think of “security” as more than just the legal right to occupy. AHURI researchers have conceived of “secure occupancy” to encompass a person’s ability to make a home of premises and exercise housing autonomy. This includes the ability to confidently get repairs done in one’s premises, or keep a pet – and to freely decide to make a new home elsewhere.
This conception points towards a stronger reform agenda for improving security. Instead of long fixed terms, we should abolish without-grounds termination by landlords.
The law should instead provide a comprehensive set of reasonable grounds for termination, with notice periods and exclusion periods appropriate to each ground. This accommodates our present lot of small landlords, and can be done immediately.
Over a longer term, we should set our housing tax and finance policies to get a more stable sort of landlord. That would be one who operates at greater scale, has a reputation to protect and is less interested in switching out of the sector than in receiving a steady trickle of rents from secure tenants.
Chris Martin is a research fellow, Housing Policy and Practice, in the City Futures Research Centre, University of New South Wales and can be contacted <a href="https://www.be.unsw.edu.au/profile/chris_martin" target="_blank">here</a>.
</body></html>

Rental insecurity and why fixed long-term leases aren't the answer: Chris Martin

<html><body>
The strength of Gold Coast house prices is forcing first home buyers to look further west to obtain an affordable home, according to HTW’s February 2017 update.
The valuation firm says the north-west Gold Coast and southern Logan area is one of the largest growth areas within south-east Queensland with a number of satellite cities now gaining momentum and newer residential estates moving in to a more mature phase with established infrastructure, schools and local amenities.
“The growth area of Upper Coomera continues to be underpinned by the investment and interstate market with these buyers accounting for the majority of vacant lot purchases and house and land sales,” the report says.
“This market saw vacant land prices increase during the second half of 2016, with larger lots coming on to the market, which hadn’t been offered in this area for some time.”
“Over the coming year, this market should be treated with caution as these prices may be reaching their peak.”
The government increased the First Home Buyer’s Grant to $20,000 during the latter part of 2016 which encouraged more construction activity.
“However with price levels increasing in this area, it is becoming extremely difficult for first home owners to purchase or build new product and are we are seeing these buyers moving further west to the satellite cities of Yarrabilba and Flagstone at Jimboomba.”
Property Observer found a four bedroom house in Upper Coomera on 1001sqm that recently sold for $730,000 (above).
The property, <a href="https://www.realestate.com.au/sold/property-house-qld-upper+coomera-123855210" target="_blank">74a River Meadows Drive</a>, fronts the river.
A four bedroom home, <a href="https://www.domain.com.au/9-summerview-avenue-yarrabilba-qld-4207-2013311045?topspot=1" target="_blank">9 Summerview Avenue, Yarrabilba</a> (below) is currently on the market expecting offers over $575,000.
The home features an in-ground saltwater swimming pool and is on 640sqm.
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%201.35.12%20PM.png" alt="">
</body></html>

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News