For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

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]

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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

The inflation result the property market was waiting for

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GUEST OBSERVER
Q3/2016 registered US$2.26 billion worth of investment transactions, representing a 15.0 percent increase over Q3/2015 (US$1.96 billion).
The number of transactions was also significantly lower.
Forty transactions were closed this quarter, while 46 transactions were recorded over the same quarter the previous year. The average transaction price was US$56.4 million, which was signi cantly higher than the US$42.6 million in Q3 a year ago. Japan commanded the largest share of total sales volume in the region this quarter, and all 13 transacted assets were acquired by Japanese investors. We expect growth of transaction volumes for the region for full-year 2016 to be subdued, mainly due to the lack of opportunities in core markets.
Eastern Asia
Japan continued to be one of the most active markets in APAC. Despite a quarter-to-quarter decline in sales volume of 32.1 percent, the total volume of JPY88.2 billion (US$865.5 million) was still the highest in the region. The hotel investment market has seen a series of large transactions in 2016, even as other sectors of Japan’s real estate market have retrenched.
Japan’s explosive growth in inbound tourism and its chronic lack of room supply have created a real interest in the hotel market, and players are leaping to take advantage. The Real Estate Investor Survey by the Japan Real Estate Institute (JREI) reports that expected cap rates on economy hotels in prime Tokyo locations have compressed from 5.4% to 5.0% since 1H/2015.
Hotel transactions frequently occur outside the nation’s capital, however – only seven transactions occurred in Tokyo in 1H/2016, according to Real Capital Analytics – resulting in a wide range of cap rates. We assume actual transaction cap rates to be much lower than JREI’s surveyed gure of 5.0 percent, because winning bidders tend to expect aggressive increases in ADR.
The largest buyer of the quarter was Japan Hotel REIT Investment Corporation (JHR) with the purchase of three hotels – Hotel Vista Grande Osaka, Hilton Nagoya and Hotel Ascent Fukuoka. The total sale was worth approximately JPY47.1 billion. Hotel Vista Grand Osaka will be rebranded into Holiday Inn Osaka Namba by the end of 2016, according to a JHR press release. Hotel Vista Grande Osaka was the largest transaction in Japan, sold by GK Apollo for JPY27.0 billion (US$267.3 million), or JPY85.9 million (US$851,275) per key. This was followed by Hilton Nagoya which was acquired at JPY15.2 billion (US$150.9 million), or JPY33.1 million (US$328,207) per key.
In June, Japan's Land, Infrastructure, Transport and Tourism Ministry announced a plan to relax the oor area ratio of buildings by 1.5 times, or up to an additional 300 percent for hotel constructions. The new standards are expected to substantially increase accommodation capacity following Japan`s continuous increase in foreign visitors and the upcoming 2020 Tokyo Olympics. Although based on this relaxed regulation, each local government is required to decide on their regional floor area ratios under the City Planning Law, and therefore the price of the land for hotel usage in major cities is expected to increase.
In China, sellers’ expectations remained high, and the continued lack of debt nancing for hotel projects has led major Chinese hotel investors to continue to look overseas for either tourism-related investments or refocus into investing in commercial assets or companies in other industries with high growth potential.
Chinese investors’ interest in Australian assets was evident in this quarter, concluding ve transactions there with a total of A$474.7 million (US$352.8 million), representing 15.6% of total volume in the quarter.
Hong Kong’s rst transaction of 2016 was closed this quarter, with the sale of A3 Hotel in Temple Street at HK$108 million (US$13.9 million), or HK$2.4 million (US$309,400) per key.
Southeast Asia
There were only two transactions in Southeast Asia this quarter. The Renaissance Kuala Lumpur Hotel changed hands between IGB and S. Alam Group for MYR765 million (US$187.4 million), or MYR840,659 (US$205,890) per key.
There was no transaction in the same period the previous year. Malaysia has suffered from the sharp fall in international tourist arrivals, particularly those from China, since the airline disasters of two years ago. This quarter, however, the Malaysian Inbound Tourism Association reported that the Chinese source market had shown some signs of recovery. According to Tourism Malaysia, international visitor numbers for 1H/2016 grew 3.7 percent, with remarkable increases from China and Thailand at 32.1 percent each and Laos at 26.8 percent. 
The Singapore hotel investment market remained inactive this quarter, due mainly to the lack of suitably priced assets and the tightened control of room stock by the Urban Redevelopment Authority. In Q2 and Q3, some 2,200 new rooms were added, mostly outside the central area, and 66 percent of the total was in the midscale category. Room nights sold for 1H/2016 rose 6.4 percent year-on-year, according to the Singapore Tourism Board. As of July 2016, the city state registered an increase of 11.5 percent year- to-date (YTD) for inbound international visitors. The Chinese source market jumped remarkably by 49.2 percent, followed by Thailand at 14.9 percent. This upward trend, however, is likely to be impacted to a certain extent by the Zika outbreak in August which has prompted a few countries to issue advisories warning travellers of the dangers of the mosquito-transmitted disease.
Australia and New Zealand
There were 17 transactions in Australia, totalling approximately A$943.2 million (US$716.4 million) this quarter, compared to 16 in the same period last year. In terms of volume, however, there was a remarkable increase from A$381.2 million (US$282.3 million) recorded in Q3/2015 compared to this quarter.
One recent notable sale was that of Novotel Melbourne on Collins from LaSalle Investment to Singapore- listed Frasers Hospitality Trust for A$237 million (US$ 178.7 million), or A$623,684 (US$470,290) per key. The purchase was part of the Trust’s plan to grow its hotel portfolio. Melbourne’s hospitality sector has been given the boost to grow, driven by the completion of Melbourne Airport’s Terminal 4, the expansion of the Melbourne Convention and Exhibition Centre, and development of several projects such as the Docklands and Fishermans’ Bend. Tourism Australia expects total visitor nights in the state of Victoria to grow at an average of between 4.0% and 4.6 percent for the next three years.
So far this year, the Australia market has been resilient and attractive for overseas investors due to its currency uctuations which has led to an increase in inbound travellers and, consequently, hotel performance.
New Zealand has captured a fair amount of interest from investors so far this year. Investment volume for the rst three quarters of this year totalled NZ$236.4 million from 11 transactions. New Zealand Trade and Enterprise released a report this year pointing out the shortage of hotel rooms in the country and highlighted investment opportunities to cope with this shortfall, especially in key cities such as Auckland, Queenstown, Rotorua and Christchurch. It also reported that in 2015, Auckland and Queenstown had consistently high occupancy rates of above 80 percent throughout the year, while Rotorua and Christchurch had seasonal peaks of also above 80%. Based on historical preferences, upscale and luxury rooms are expected to have a strong demand.
In recent years, New Zealand has seen remarkable growth in international visitor arrivals, rising 9.6 percent for full-year 2015; growth for the eight years prior to this did not rise above 6.0 percent. For 2016 YTD July, international visitor arrivals grew an impressive 11.2 percent. 
 
Simon Smith is senior director, Research and Consultancy, Hong Kong Savills and can be contacted <a href="https://www.savills.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Australian hotel market resilient, attractive for overseas investors: Savills

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Marketing entrepreneur Fergus Watts has bought a charming weatherboard homestead in Moorooduc on the Mornington Peninsula.
He paid $2.15 million for <a href="https://www.realestate.com.au/sold/property-house-vic-moorooduc-123314286">the six hectare estate</a>.
The bespoke period home was relocated from Geelong then extended with wrap around verandahs overlooking its rose garden and orchard.
The selling agents were Bowman &amp; Company agents Robert Bowman and Alex Campbell.
Watts, who play with the AFL sides, Adelaide Crows and St Kilda, returned to Australia after opening a new London office wanting a sea and tree change.
He says he has no daily requirement to go to the Bastion Collective office, his international management and marketing business. 
This article was first published in the Weekend Australian Mansion Australia property section.
 
 
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j.ballantyne1990-6AQqhLzZaK

Fergus Watts buys relocated Moorooduc homestead

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<img src="https://counter.theconversation.edu.au/content/68931/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
We’ve all seen it in the movies: overgrown “kidults” living at home while their parents pick up their dirty laundry, cook their meals and vacuum around their unmade bed. 
This narrow portrayal of what modern-day multigenerational households look like is also found in newspapers worldwide. Names like “mummy’s boys”, “gen why bother moving out”, “kippers” and “gestaters” are used to describe this supposedly dependent generation who won’t leave the comfort of the family home.
Since we began our research four years ago, however, we have found that different generations of the same family live together in one household for a whole range of reasons. This results in a great diversity of outcomes. 
These stories of different drivers and outcomes, along with findings from several related Australian studies, are retold in our new book, Multigenerational Family Living. 
In the book, we debunk a series of myths about multigenerational households. With around one in five Australians living in multigenerational households since at least the mid-1980s, it’s about time we moved beyond the stereotypes.
<h2>Myth #1: Kids won’t become ‘independent’</h2>
If one only paid attention to media reports, it’d be easy to think that multigenerational households in modern-day Australia come about solely because young adults won’t fly the nest. While there is some truth in this, there are other reasons, and combinations of reasons, that lead multiple generations of adult family members to live together. 
Among the 392 respondents to our survey, “adult children yet to leave home” was only the third-most-common driver. Finance was the most common.
Finance, however, can encompass many things.
<a href="/images/2016/11/29/image-20161121-4544-4ut9vm.PNG" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/29/image-20161121-4544-4ut9vm.PNG" alt="">
Survey results, Author provided 
Financial constraints can come about for a wide range of structural reasons. These include an increase in attainment of tertiary (and even postgraduate) qualifications, workforce casualisation and the unaffordability of housing, whether buying or renting. 
These constraints often encourage the younger generation to delay leaving the parental home. However, we also found examples of adult children paying their parents’ mortgages and buying homes together to manage housing costs within the family.
Changes in government policies and priorities can also have impacts on people’s decisions about their living arrangement. The withdrawal of government support – such as changes in the Australian child, aged and disability care sectors – increases the pressures on family members to take care of each other. 
There have been reports of grandparents moving across town to be closer (or to live with) their grandchildren so they can provide child care during the day. 
Likewise, some of our participants said they invited their elderly parents to live with them so they could take care of them because professional aged care facilities were unaffordable or undesirable. “Care arrangement support” was the second-most-common driver for multigenerational living.
<h2>Myth #2: It’s something migrants do</h2>
There is a lot of literature about how common multigenerational living is elsewhere, whether in Asia, the Middle East, or Southern Europe. 
While more than one in three (34.9%) Australian residents born in North Africa and the Middle East lived in multigenerational households in 2011, only one in six (15.7%) born in Northwest Europe (e.g. the UK) did so.
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<h2><img src="/images/2016/11/29/image-20161121-4544-1nlzr3p.png" alt=""></h2>
Custom 2011 Census data. Image: Alec Gelota, Author provided 
Certainly, there is a cultural element to living arrangement decisions. Yet our analysis shows that three-quarters of people who lived in multigenerational households in Australia in 2011 were born here or elsewhere in Oceania.
<h2>Myth #3: Live-at-home kidults take advantage of parents</h2>
One of the bigger gripes about multigenerational living is that not everyone pitches in. 
Lyn Craig and Abigail Powell found that while adult children do pitch in and help out with chores, these efforts don’t really help their parents all that much, particularly their mothers. 
The reasons are a mix of adult children doing chores for themselves (such as doing their own laundry or cooking their own meals), instead of communal sharing, and of culturally imbued ideas about who should be responsible for groceries, cooking and gardening.
<a href="/images/2016/11/29/image-20161121-4528-2tl4jn.PNG" target="_blank">Click to enlarge</a>
<h2><img src="/images/2016/11/29/image-20161121-4528-2tl4jn.PNG" alt=""></h2>
Survey results, Author provided
Complaints about chores, however, pale in comparison to those about lack of privacy in the family home. This is the result of a combination of family members not respecting personal boundaries but also of many contemporary housing designs (open-plan living, for instance) that are not suitable for multigenerational needs. 
As Bruce Judd discusses in his chapter, some older housing models, including the resurgence of granny flats, may offer better outcomes to people who want to live together in multigenerational homes.
<h2>What does it all mean?</h2>
Despite the media and some academic spheres giving this household form more attention, there is still relatively little known about it, and particularly the experiences of those who choose to live in them. As this journalist realised, there are pros and cons to multigenerational living, just as there are pros and cons to living alone. 
International policy recommendations are advocating for more diverse housing products to house our ever-changing household forms. This includes encouraging people “to share our homes more with other generations and encourage greater intergenerational living”. 
To devise the most practical policies do this effectively, we must have a greater understanding of the outcomes for different members within the household.
Edgar Liu is research Fellow at City Futures Research Centre, UNSW Australia and can be contacted <a href="https://theconversation.com/profiles/edgar-liu-32200" target="_blank">here</a>.
Hazel Easthope is senior research fellow, City Futures Research Centre, UNSW Australia and can be contacted <a href="https://theconversation.com/profiles/hazel-easthope-175163" target="_blank">here</a>.
Both are authors for The Conversation.
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Why adult children stay at home: looking beyond the myths of kidults, kippers and gestaters

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Record apartment prices are being set all over Sydney, the latest in the Sutherland Shire.
It was a sub-penthouse at Cronulla that sold mid-week off the plan for $5.7 million through David Highland at Highland Property.
The 155 sqm apartment in the soon to be developed, Pinnacle on McDonald Street was bought by a local buyer.
It comprises three bedrooms plus media room with a balcony that offers views across the ocean from Jibbon Beach to Boat Harbour.
David Highland says it broke the Sutherland Shire record both in price and sqm rates. 
It topped the Shire's previous record, a $5.51 million off-market sale of a four bedroom penthouse. 
“We’ve had a lot of interest prior to marketing, particularly from local buyers”, he said. 
“The location and finishes are second to none, and the fact that each apartment has its own level with elevator access, offers a unique selling point.” 
The Innovative Architects designed development is made up of six whole floor apartments with direct access to The Esplanade.
Each of the apartments were finished with interiors from EB Interior Design.
Construction completion is due in 2018.
This article first appeared in the Sunday Telegraph.
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Record apartment prices hit Sydney's Sutherland Shire

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New South Wales has modernised its strata laws to reflect the realities of 21st Century living.
The laws come into effect on 30 November 2016, and are expected to set the pace of change for the industry as a whole, according to property services company, PICA.
Among the new legislation are relaxed requirements for attending general and committee meetings and voting.
Owners can now use conference calls and video conferencing to participate in meetings, removing the need for proxies.
Greg Nash, managing director and group CEO, PICA, said, investor owners who don’t live in or near their property will now be able to participate in meetings more easily without the expense and inconvenience of travel. They can keep a better eye on their investment and be more involved in decision-making.
“For strata managers being able to use modern technology to communicate will increase productivity and efficiency, enabling urgent matters to be addressed offsite if necessary," he said.
"Plus, the challenges of coordinating schedules become less of an issue since investors no longer have to travel for meetings."
The new legislation also changes how meeting notifications are sent. Currently, meeting notices must be sent via post or, if there is already a by-law in place, they may be sent by email. The postal address must be located in Australia, making foreign investment tricky. When the new legislation takes effect, by-laws will no longer be necessary for meeting notices to be sent by email. This makes it simpler for people to keep track of notices.
Greg Nash said some people still prefer post and that will remain an option.
"These new laws are simply taking advantage of the way communications technology can streamline processes. Most people prefer to communicate via email for greater convenience,” he said.
"The need to accommodate the varying ways people prefer to attend meetings means strata management companies may need to invest in new technology. This could include video conferencing or unified communications solutions, for example.
"PICA has invested heavily in a property services online platform that offers options for people to communicate in the way that suits them. It also includes a self-service capability so that owners no longer have to contact the strata manager to keep informed of repairs and maintenance progress.
“The new NSW legislation sets the pace of change for the industry in a positive way. It raises the professionalism of strata managers and makes it easier for them to look after owners’ interests. The NSW approach is really just the first step; it’s a blueprint for the future.”
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Property 101: New NSW strata laws will set the pace of change for the property industry

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GUEST OBSERVER
Despite the well publicised closure of some manufacturing sectors in Australia, manufacturing isn’t dying.
Instead, like industry around the world, it’s undergoing a period of significant change as new, disruptive technologies and economic realities take hold and new markets emerge.
There is a role for the manufacturing sector in Australia. Through interviews with 56 stakeholders, three workshops and a survey of industry and government organisations, as well as leading researchers, CSIRO identified major growth opportunities and what the manufacturing sector needs to do to achieve them.
Currently Australian manufacturing contributes 6.05% of Gross Domestic Product (GDP), exports A$96.1 billion of goods and employs 856,000 people. This has fallen from a high in 1995, when it contributed to 14% of GDP and employed more than a million people. 
High wages, geographical remoteness and a small dispersed local market are some of the reasons for these changes. However consumers are also changing what products they buy which then impacts the type of products made.
Major companies like Boeing and General Electric now look to the world using global supply chains for components for their final product, so Australia has to compete globally. 
The innovation resulting from science and technology, such as automation, digitisation and new materials, has changed the equation of what it means to be a manufacturer. Manufacturing is no longer a basic industry that employs low-skilled workers.
Over the next 20 years, Australia’s manufacturing industry must transform into a highly-integrated, collaborative and export-focused “ecosystem” that provides high-value customised solutions contributing to global supply chains.
Our research brought up some exciting examples of Australian companies that have already embraced this evolution, setting a standard to follow.
<h2>Customised high-margin solutions</h2>
We found that demand for more expensive bespoke products is replacing mass-produced products relying on value from producing a lot for the market. New materials, automation, biotechnology and new chemical processes have driven this innovation in manufacturing. 
These new technologies enable a new level of customisation. Products like personalised medical implants and functional foods and clothing are already possible thanks to the combination of design services and superior components (such as 3D printing).
Small to medium enterprises (SMEs) make up 97% of Australia businesses. So customisation is an ideal recipe for Australian SMEs to achieve global reach without the need for producing more goods than their competitors.
An example of an Australian company doing this well is Oventus. They produce an O2Vent mouthpiece for those that suffer sleep apnoea. Oventus uses a 3D scanner to map a patient’s mouth, then 3D prints a custom-made mouthpiece that helps stop dangerous pauses in sleep at night. Its custom fit and relative comfort attract a price premium. The company recently listed on the Australian stock exchange and is about to go global.
<h2>Collaboration</h2>
Too often Australian manufacturers focus on the rival across the street, rather than the looming competition over the horizon.
Our research shows manufacturers need to partner among themselves, either through business partnerships or increased collaboration. Nautitech and Northern Light Technologies Australia, for example, were brought together by a mining company to improve underground communications. 
These two companies combined hardware from one company and software from the other to provide mobile Wi-Fi coverage for mine sites. It allows miners to monitor worker safety, fleet optimisation, machine performance and also allows autonomous mining and productivity improvements. 
<h2>Global supply chain integration</h2>
In a global marketplace, Australia cannot stand on its own. The Australian market alone is too small - our population is the size of Shanghai, China. 
Australia has few multinational companies manufacturing here. However multinational companies do source components from the best suppliers globally and herein lies the opportunity for Australia.
For example, manufacturer ANCA Tools delivers specifically designed parts to Japan. These parts are made using the company’s multi-axis grinding machines. 
These machines, designed and built in Australia, are automated and wired up for flexible and precision manufacturing. The components are integrated into Japanese customers’ unmanned, factory-wide automated production systems.
Manufacturers need to integrate into international supply chains; using Australia’s advanced technology industry and research sector, to stand out from the crowd. One example of this highlighted from our research is Carbon Revolution, a company that pioneered the commercial production of carbon composite car wheels. These wheels are made from a single piece of material. 
Carbon Revolution is supplying Ford with wheels for the Mustang Shelby GT350R, making it the first company in the world to supply mass produced carbon fibre wheels on standard equipment for a major automaker.
The wheels weigh up to 50% less than conventional aluminium equivalents and reduce carbon emissions by up to 6%. Carbon Revolution is now investigating opportunities in aerospace and industrial markets.
<h2>Increased role for the research sector</h2>
Australia’s research sector can play a critical role in the future of Australian manufacturing, providing the significant technological innovation needed to drive future prosperity.
Publicly funded research agencies in Australia are already building stronger industry engagement. In our research, Australian manufacturers have identified the science and technology gaps that need filling. 
These companies want to use research results to be able to differentiate, make manufacturing processes more efficient, monitor in real time and drive decision making with data. Australian research institutions need to adapt to these demands.
The establishment of open access hubs such as Lab22, the Australian National Fabrication Facilities (ANFF), industry collaboration spaces in research organisations, researchers in business, industry PhDs and internships are all examples of initiatives to link the research and manufacturing sectors.
Australia has a high level of education, an excellent research sector, vast natural resources, a reputation for quality, keen SMEs and close proximity to a burgeoning Asia. The strengths far outweigh the weaknesses.
Cathy Foley is deputy director and Science Director Manufacturing Flagship CSIRO, and can be contacted <a href="https://theconversation.com/profiles/cathy-foley-1066" target="_blank">here</a>.
Keith McLean is director, CSIRO Manufacturing, CSIRO and can be contacted <a href="https://theconversation.com/profiles/keith-mclean-318305" target="_blank">here</a>.
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The Australian manufacturing industry is not dying, it’s evolving: CSIRO study

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There's no doubt that after location, it is the number of bedrooms and bathrooms that fundamentally determines the selection of an apartment to buy.
The aspect and view become important once you are inside.
The standard of fitout certainly comes into play in any pricing.
Over recent times apartment size has become a mild influencer as Sydneysiders embrace the purchasing reckoner that's more common in other international cities, especially across Asia. 
Calculating the per-square-metre price of apartments has emerged - especially for off the plan acquisitions - as a way to evaluate market value as it has been long done say at The Peak in Hong Kong.
Australia has typically used median apartment data in our calculations, and this has appropriately become more segmented given the obvious differences between studios and penthouses.
The sale of the two Opera Residences penthouse earlier this month that established new price records has highlighted the increased emphasis being given to price per square metre.
They sold at $26 million and $27 million, but details released showed these expensive penthouses fetched a stellar $95,000 per sqm. 
The price level is unquestionably comparable to much of Manhattan in New York and Knightsbridge in London. Though not quite matching the world's most expensive apartment currently for sale in Monaco. 
The five floor La Tour Odeon penthouse, designed by the Monegasque architect Alexandre Giraldi, featuring a pool with a waterslide, comes with a reported $US335 million asking price for its 31,500-square foot (2900 sqm) space which equates to $US122,000.
The Sydney Opera Residences penthouses came with around 275 sqm internal space, with three bedrooms, four bathrooms and a triple lock up garage. 
The sub-penthouses in the Macquarie Street complex sold for around $16 million so reflected around $85,000 per sqm. They had an internal area of 183sqm and came with two car spaces. 
The sales represented a big jump on prior benchmarks.
The previous highest recorded rate per square metre was set in the nearby Bennelong "Toaster" development in 2008 when the Moran family bought an adjoining 260-square-metre penthouse for $16.8 million.
At $64,000 a square metre there was something of a one-off premium because the Moran’s planned to extend, so we happy to pay the opportunity cost.
Until the latest price hike, Omnia, Kings Cross’s newest development, held the price per square metre honours after an $11 million penthouse off-the-plan sale last year. It reflected $62,000 per square metre price.
The price per square metre trend has mostly come to the fore due to the off the plan marketing of new high density projects across Sydney. 
But ever since the 13-storey Astor highrise was built on Macquarie Street in the 1920s, Sydney has led the nation in apartment living popularity.
Sydney has 21 square kilometres of what's called high density, Melbourne has one square km with no other city in Australia ranked.
By comparison London has 327 square kilometres where there is a similar high density of 8,000 plus people per square kilometre.
There's been interesting subsequent research from the Urban Taskforce that demonstrates that apartment values per square metre actually go up with greater density. 
An typical apartment in high rise Chatswood will be $9,000 a square metre compared with a mid-rise apartment in Lindfield at $6500. Potts Point apartments are selling at an $11,000 per square metre, compared to Edgecliff's $8300 per sqm.
Parramatta apartments have been selling at $6000 per square metre while Westmead is $4750 per square metre. Randwick apartments at $9300 and Zetland at $6600 psm.
While I think price per square metre calculations are very handy, they ought not be the reason to buy or not buy. 
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Evaluating apartment value by price per square metre

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<img src="https://counter.theconversation.edu.au/content/66406/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Since the beginning of the 20th century the single-function building typology – for example, the office, school, apartment, institution or retail complex – has been subject to regulations requiring separate spaces for “working” and “living”. 
Within this framework, paid labour seldom took place inside the home. Today, people use space differently, which means legislation must change to support different ways of living and working in the one building. 
The post-industrial city, which has existed since the late 20th century, has changed the way people live and work. 
In North America, with the decline of the manufacturing sector in many cities and the “discovery” of the inner city by the 1970s, it became fashionable for people to live in former manufacturing spaces that had been converted for residential use. This trend emerged in New York and then in San Francisco a decade later. 
By the 1990s most cities in North America boasted converted loft districtswhere people were, potentially, both living and working. 
The early adopters of the contemporary live/work movement were artists and craftspeople. Other groups that have since taken advantage of live/work dwellings are entrepreneurs and the self-employed. They may be freelancers who do not keep regular office hours or need permanent office space. 
The availability and affordability of computers, advances in telecommunications and tax deductions for home offices have made the live/work option a practical and economically savvy alternative for many.
<h2>Movement calls for planning reform</h2>
When the contemporary live/work movement gained traction in the 1980s and 1990s, it challenged the North American urban planning system. New legislation allowed for mixed use, blending residential, commercial, cultural, institutional and, where appropriate, industrial uses. 
This included “home occupation”, which incorporated the right to pursue small-scale work activities at home. This model usually placed restrictions on the number of employees and commercial or client visits to the premises.
The term “live/work” signifies that the building or unit is primarily used for residential purposes, but that working is permitted. “Work/live” means the work component takes priority over the residential. In urban planning legislation, live/work is often associated with residential and mixed-use zones and codes, whereas work/live is associated with commercial, industrial or mixed-use zones and codes.
The main difference between live/work and work/live and home occupation is the “disturbance factor” – that is, how intrusive the activities in the building are for neighbours. 
In Australia, home occupations are generally permitted in current residential and mixed-use zones as long as they do not disturb the neighbours. 
While artist communities and creative entrepreneurs in Australia have been blurring the boundaries between living and working for decades, live/work (or work/live) as a formalised land use does not exist.
The adaptive reuse of vacant or underused buildings and lots is a strand of the live/work, work/live movement. Locations such as Collingwood in Melbourne, Northbridge in Perth and Surry Hills in Sydney are all home to numerous adaptive reuse projects and people working in the creative economies. Councils often turn a blind eye to the buildings’ unregulated use.
However, Australia is yet to see the development of new land use or mixed-use live/work zones such as those in North America. Since the 1990s, live/work has also been formalised in Western Europe. By the 2000s, the movement had taken hold in places such as Eastern Europe, Russia and China.
<h2>What are the live/work benefits?</h2>
As a land-use and building typology, live/work can support urban neighbourhoods through providing a diversity of uses, which can be flexible over time. It intersects with housing, job, transportation and infrastructure planning to support an integrated approach to urban planning. 
The live/work ethic advocates for mixing stores, offices and housing. This can help make neighbourhoods busier and more productive, meaning they may be livelier and safer. 
Live/work offers multiple sustainability benefits. These include a reduction in vehicle use, improved air quality, less dependency on natural resources and reduced sprawl. It can also support and promote efficient land use by putting maximum floor area within a given envelope. 
Increased choice as to how and where people live and work, as well as the accommodation of different lifestyles and new demographics, can result in a built environment that is more responsive to the changes in cities that occur over time.
<h2>What changes are needed?</h2>
The City of Perth encourages residential uses within commercial precincts – for example, in West Perth – but what happens when you want to work in your own home in the city or the suburbs? 
How many workers can you have? Can you put up signage? What services are prohibited? How easy or expensive is it to change the use of a building through the planning system? What spaces and safety conditions need to be adhered to? 
The WA planning scheme stipulates that home occupation means that the business cannot employ non-household members. It also cannot occupy over 20m² or have a physical retail component. A “home business” cannot employ more than two people, be larger than 50m², or have a physical retail component.
With a shift in the attitudes of Australian federal and state governments towards innovation and creativity, planning regimes also need to be more creative to support living and working conditions for the 21st century. An increase in densities presents an opportunity to explore further experiments in live/work.
Andréanne Doyon is research fellow, University of Melbourne, and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/andreanne-doyon-305144" target="_blank">here</a>.
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Reinventing density: bridging the live-work divide

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<img src="https://counter.theconversation.edu.au/content/69202/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The number of Australians who are 30 days behind in their mortgage payments is at the highest level in three years, according to ratings agency Moody’s. It projects this will keep rising. 
The question is, how worried should we be? 
The increase in mortgage delinquencies is a warning sign for lenders. Moody’s analysed mortgages in residential mortgage-backed securities, which may differ from the loans on the books of the major banks. So it’s hard to say exactly how problematic this is right now. 
But there are a number of factors that could make this situation worse, regardless of the current risk. My colleagues and I recently published research exploring the causes of loan losses. We found a lack of ready funds and declining housing prices to be key contributors. Future interest rate rises, then, are a concern.
Further, a key driver behind the rise of delinquencies is that wage increases have not kept up with recent house price increases, and this trend, too, is looking rather dire. 
<h2>How banks report bad loans</h2>
Bank risk reports reflect a number of different metrics of how their loan books are doing. Let’s focus on loan delinquencies, impaired assets and provisioning. 
In Australia, housing loans are defined as delinquent if the borrower does not meet scheduled payments. For example, they could be 30 days or more than 90 days late. A loan is considered impaired if it is likely to result in a loss to the bank - generally because there is not sufficient collateral backing the loan.
Provisioning is the money that banks allocate to cover the losses on bad loans, whether delinquent or impaired.
This chart, based on recent Commonwealth Bank reports, shows that none of these numbers are particularly high right now - representing less than half a percent of all the loans on the bank’s books.
<a href="/images/2016/11/29/image-20161124-15325-tl83nr.jpg" target="_blank">Click to enlarge</a>
<h2><img src="/images/2016/11/29/image-20161124-15325-tl83nr.jpg" alt=""></h2>
Commonwealth Bank of Australia Basel III Pillar 3 reports. Commonwealth Bank
<h2>How bad loans affect banks</h2>
That chart isn’t the end of the story. 
Generally speaking, delinquencies are forward looking. A 30-day delinquency has a strong potential to become a 90-day delinquency, eventually forcing the bank to start setting aside more and more money, and prepare for an impairment. 
Bank provisioning follows guidelines set by the Australian Prudential Regulation Authority (APRA). The longer the loan is in arrears, the more money banks have to set aside.
For example, for a mortgage loan with an outstanding amount of 80-100% of the property value, the bank does not have to set aside any additional money for the first 90 days it is in arrears. But they must set aside 5% of the loan after 90 days, and 20% after a year. Larger provisions apply for commercial loans, especially if they are not secured against other assets.
This is why the Moody’s warning has to be taken seriously - 30 days can quickly become 90 days, putting more pressure on banks.
<h2>The state of the economy is also a factor</h2>
Not every delinquent loan results in a loss, however. Banks and borrowers often come to agreement on more lenient payment schedules which ‘cure’ delinquent loans and borrowers are able to make scheduled payments again. 
The rate at which delinquent loans are cured often reflects the state of the economy. The following charts are based on <a href="https://www.creditriskanalytics.net/datasets">US data</a> and show us how the economy can factor into whether a loan is cured or goes bad. In a boom, cure rates are high and foreclosure rates low.
Another thing to note in these charts is that cure rates decrease significantly as the number of days in arrears increases. 
<a href="/images/2016/11/29/image-20161124-15325-1ozowoo.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/29/image-20161124-15325-1ozowoo.jpg" alt="">
Delinquencies that are ‘cured’ during a boom. author's analysis 
In an economic bust, however, cure rates are low and foreclosure rates are high. There are many reasons for this – during a bust it is much harder for the unemployed to find jobs, for delinquent borrowers to sell other assets, and lenders are less willing to refinance.
<a href="/images/2016/11/29/image-20161124-15362-1quhi9k.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/29/image-20161124-15362-1quhi9k.jpg" alt="">
 
Delinquencies that are ‘cured’ during a bust. author's analysis
Are Aussie banks in trouble?
In Australia the delinquency rates are currently well below those seen in the US during the global financial crisis (GFC). The delinquency rates there and then exceeded 5%.
But the conditions are there for bank losses to be realised. First, borrowers need to become delinquent (often as a result of job losses or interest rate increases). Second, house prices need to drop below outstanding loan amounts as banks only have losses if the houses do not repay the impaired loans.
Such a bust scenario may be unlikely but within reach. The job market is under pressure, interest rates are low and hence likely to rise in the longer term, and the outlook for house prices is mixed - with Melbourne and Sydney on the rise but cities associated with the mining sector heading down. 
It is important to keep a close watch on these all factors, especially if they start to combine.
Harry Scheule is associate professor, Finance, UTS Business School, University of Technology Sydney and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/harry-scheule-3573" target="_blank">here</a>.
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More Australians are behind on their housing loans, how worried should we be?

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Savills will auction five land lots at Lindfield onsite on December 11.
The lots form part Eton Estate which comprises a total of 10 land lots.
The five remaining lots will be auctioned at a later date.
Located at 101 Eton Road, Lindfield, the lots range in size from 831 square metres to 880 square metres with a price guide starting around $1,890,000 plus.
Savills selling agent David Poppleton noted in the first week of launching there had been more than 150 enquiries.
With a median house price of $2,500,000, according to CoreLogic, Lindfield has witnessed significant growth in recent years.
Since 2011, Lindfield has seen a cumulative capital growth in median house prices of 52.6% compared to the wider Ku-Ring-Gai market at 47%.
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