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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If you are looking for luxurious living away from the din and bustle of the city, Shawood homes in Gledswood Hills in Sydney’s southwest Macarthur region could be just the thing for you.
Set within the Donohue's View precinct at The Hermitage estate, Shawood homes by leading Japanese developer Sekisui House are set over one or two levels, offer four-bedrooms, multiple living areas, study and ample storage.
Other features include open plan interiors, plenty of natural light and reverse cycle, ducted air conditioning for year-round comfort. The rear and front yards are landscaped. 
In addition, access to more than 35 hectares of parklands, cycle and pathways and a golf course. The development is expected to be complete in 2017.
For more information, <a href="https://www.shawoodaustralia.com.au" target="_blank">click here</a>. 
<img src="/images/2016/09/23/Shawood1.jpg" alt="">
 
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Shawood homes in Sydney's Gledswood Hills promise luxury and comfort

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De Dacha, the cute ski chalet in the Thredbo village which came with a $2.5 million asking price, has been sold by the former society model, Fiona Campbell.
It last traded in 1994 when a record $810,000 was paid Campbell and her then publisher husband, Matt Handbury to the the village developers, Lend Lease.
Overlooking the duck ponds, the European alpine-style lodge ranks as the loveliest of the village's private abodes.
The red-shuttered Da Dacha is a stand alone chalet which offered four bedrooms, four bathrooms, a lounge room with wood burning fireplace and a dining area with an office nook.
It was a $8000 a week peak season rental.
The lodge was designed by Lend Lease resort manager Albert Van der Lee, who occupied the lodge from 1962 to 1984.
Its building cost was a mere $28,000.
Following her split with Matt in 2001, Fiona famously received Point Piper's Altona, one of Australia's great harbourfront trophy homes, and De Dacha in the matrimonial settlement.
She sold Altona in 2002 for a record-breaking $28 million to hotelier Deke Miskin and his wife Eve.
It was followed by a marriage to a titled Englishman, the 10th Earl of Dartmouth William Legge, the grandson of the romance novelist Barbara Cartland, the son of Countess Raine Spencer, and stepbrother to Princess Diana.
De Dacha was listed by local estate agent Doug Edwards at Mountain High Real Estate. No sale price has yet emerged on the Kosciusko Thredbo sale records.
It has been a busier than usual snow season for property sales with whispers the famous Bernti's premises have been sold.
It still retains the name of the former hosts, Bernd and Tricia Hecher, the always welcoming couple who built their mountain ski lodge in the late 1970s.
He was the stonemason, turned ski instructor and she was the clerk of works, who became the leader of opinions in the tiny village. 
Iconic Athol Lodge is in the process of duplex subdivision with one of the five bedroom apartments just listed at $2 million. Orthopedic surgeons outlaid $1.69 million for Jodee Rich's Athol Lodge back in 2004. 
Obergurgl, located on the corner of Buckwong Place and Brindle Bull, seems set for alterations with a two storey master suite being proposed by the Malouf family. They have consulted the original architect Peter Muller.
The Bellevarde is the newest approved development with construction starting early next year by the veteran snow developer John Fielding.  
This article was first published in the Sunday Telegraph.
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jchancellor-FAypfDUnLy

De Dacha ski chalet at Thredbo sold

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<h3 class="post-title entry-title"> </h3>
<div id="post-body-2781265956150443664" class="post-body entry-content">
<div>Australia's GDP increased to $1.67 trillion in financial year 2016, measured in seasonally adjusted Chain Volume Measures terms, now tracking at just above $420 billion per quarter.</div>
<div> </div>
<div>Following on from yesterday's post, a quick look here at industry gross value added (GVA).</div>
<div> </div>
<div>Having accounted for just over 5 per cent of industry GVA three decades ago, mining's share has swelled to 8.9 percent as export volumes begin to ramp up.</div>
<div> </div>
<div>Finance and insurance also now accounts for 8.9 per cent of industry GVA, up from just 4.9 per cent in 1986.</div>
<div> </div>
<div>You can click on the chart to expand it (or use the touch screen, if you have one of those, of course).</div>
<div> </div>
<div><a href="/images/2016/09/28/GVA.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><img src="/images/2016/09/28/GVA.jpg" alt=""></div>
 <div class="separator"> </div>
<div>On the other hand, manufacturing is shrinking as a share of the pie, declining from a share of 11.1 percent at the beginning of this chart to just 5.8 percent in 2016.</div>
<div> </div>
<div>Construction wind-down</div>
<div> </div>
<div>The latest figures show that the contribution of construction to GDP has remained solid at 7.6 per cent, tracking at around $32 billion per quarter.</div>
<div> </div>
<div>A decade ago construction was contributing only $13 to $14 billion per quarter. </div>
<div> </div>
<div>This suggests that the planned 'hand-off' from resources to residential construction was generally a success between 2012 and 2016. </div>
<div> </div>
<div>However, this does also mean that as residential construction eventually winds down there will be quite a hole in domestic demand to be plugged by something other than rising mining export volumes.</div>
<div> </div>
<div>Given the respective skill-sets of all those construction workers, tradies, and project managers, the answer should be: infrastructure and non-residential construction, as I looked at in a bit more detail here. </div>
<div> </div>
<div>Indeed, the unprecedented stamp duty windfall from Sydney's property boom is already funding a range of infrastructure projects in Sydney and New South Wales. </div>
<div> </div>
<div>But what about the gaping gulf left behind in the resources regions? </div>
<div> </div>
<div>Troubling, and this may be leading to an exodus of regional workers. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
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pwargent-M4siyDbqQY

When construction winds down: Pete Wargent

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GUEST OBSERVER
Consumer confidence: The ANZ/Roy Morgan consumer confidence rating rose by 4.4 percent to 120.6 in the week to September 25.
It was the biggest weekly gain in 11 months and the confidence reading is well above the average of 112.6 since 2014.
Finances healthy: The estimate of family finances compared with a year ago has hit the highest levels in seven years.
What does it all mean?
Just like other financial commentators and analysts, the Reserve Bank takes an interest in the regular readings of consumer confidence. Roy Morgan and ANZ compile a weekly index and the Melbourne Institute and Westpac produce a monthly confidence measure.
But from the Reserve Bank’s point of view, the questions posed on family finances are the most revealing. Clearly if consumers believe that their finances are in good shape, and are expected to stay that way, then they are far more likely to spend.
So it is important that the latest survey shows the current state of family finances at the best levels in seven years. Or expressed another way, finances are the best since the global financial crisis. Expectations of another rate cut have been receding and the latest consumer confidence readings will reinforce that trend.
The consumer survey is clearly great news for any business dependent on consumer spending, especially the more discretionary or non-essential purchases.
What do figures show?
Consumer confidence 
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%2011.22.37%20AM.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%2011.22.37%20AM.jpg" alt="">
The ANZ/Roy Morgan consumer confidence rating rose by 4.4 percent (5.1 points) to 120.6 in the week to September 25. Confidence is up 9 percent over the year and well above the average of 112.6 since 2014. All five components of the index rose in the latest week:
<ul>
<li>The estimate of family finances compared with a year ago was up from +10 to +16; 
</li>
<li>The estimate of family finances over the next year was up from +25 to +30; 
</li>
<li>Economic conditions over the next 12 months was up from +1 to +6; 
</li>
<li>Economic conditions over the next 5 years was up from +9 to +12; 
</li>
<li>The measure of whether it was a good time to buy a major household item was up from +33 points to +39 points.</li>
</ul>
What is the importance of the economic data?
The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.
What are the implications for interest rates and investors?
Consumer confidence is clearly healthy and is supporting a lift in spending - a result that was largely confirmed in the August Commonwealth Bank Business Sales Index, a gauge of economy-wide spending.
More confident consumers are more likely to spend – although there are no guarantees.
While we haven’t yet ruled out a November rate cut, much will depend on the inflation readings released in late October.
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%2011.22.47%20AM.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%2011.22.47%20AM.jpg" alt="">
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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Aussie finances in best shape for 7 years: CommSec's Craig James

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A recent flurry of close to $50 million worth of commercial property transactions in South West Sydney will pave the way for a wave of new development over the next decade.
CBRE’s Investment &amp; Development Properties team has transacted $44.45 million in commercial property over the past four weeks, underpinned by a resurgence of Chinese buyers swooping on development grade stock across the region.
In Edmondson Park, a Chinese investor secured a 10 acre site at 132-150 Croatia Avenue for $14 million.
A high rise apartment and townhouse project is mooted for the site, which is located on the door-step of the Edmondson Park train station.
CBRE’s Thomas Mosca said the sale was evidence of strengthening investment appetite levels for development grade stock in Sydney’s high growth areas.
“Over the past several months, there has been a significant uplift in enquiry from both local and offshore developers for secure opportunities in South West Sydney’s hottest growth areas,” Mr Mosca explained.
“We are starting to see a number of development applications in both Austral and Edmondson Park - further reinforcing the belief that these two suburbs will developed before the larger centre of Leppington, which is still many years from flourishing.
Further evidencing the trend, a separate Chinese investor secured a 22,000sqm mixed use development site in Austral for $13.95 million.
Situated along Edmondson Avenue, the property has been earmarked for redevelopment over the coming years, with potential to accommodate a mix of residential and commercial upon completion. 
“The majority of recent property sales in this south western pocket have been secured by Chinese purchasers looking to land-bank these opportunities and bring them into fruition once the timing for these areas is right,” Mr Mosca said.
“The developable potential of stock is pivotal to the recent flurry of transactions, with buyers hungry for sites that offer scope for both present and future development.”
He added The bulk of demand is for properties that can accommodate house and land style packages, "while there is also a more niche group of buyers seeking properties that can accommodate high-rise sites.”
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j.ballantyne1990-6AQqhLzZaK

Chinese interest in house and land sites in South West Sydney

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GUEST OBSERVER
Australia’s population is estimated to have clocked 24 million during the March quarter.
The annual growth rate has been tracking around 1.4 percent for the past six quarters. It is quite a bit lower than the pre-GFC boom years when population growth was running around 2.0 percent pa. But it remains high by OECD standards and is considered to be a strong pace.
Robust population growth means the economy needs to be expanding at a faster rate than otherwise to achieve full employment. That of course means that the economy has the capacity to expand at a faster rate too.
The slowdown in Australia’s population growth rate is a contributing factor to why most estimates of trend growth for the economy have been lowered in recent years – both Treasury and the RBA have lowered their estimates of trend growth to be in 2 3⁄4 to 3 percent range.
In the short run, however, the economy can expand  above that pace because; (i) the unemployment rate is above the non-accelerating inflation  rate of unemployment (NAIRU) and can move lower; and (ii) productivity in the resources sector will continue to lift as production comes on stream. 
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%203.17.13%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%203.17.13%20PM.png" alt="">
The major driver behind Australia’s population growth continues to be net overseas migration (NOM). However, its contribution to growth has come down over the past few years. Both sides of federal politics favour high levels of immigration to partially offset some of the effects from the ageing of the population. It also allows the economy to grow at a faster rate than would otherwise be the case which boosts aggregate demand. And it has significantly boosted demand for housing which flows through to higher prices. 
The ‘grey army’ – those aged 65 and over – has continued to grow as a share of Australia’s population. The growth of this age cohort underpins the structural decline in labour force participation. The ageing of the population has increased the dependency ratio (the age-to-population ratio of those typically not in the labour force) which underpins the need for fiscal reform, particularly tax policy. 
The detail
Australia’s population is estimated to have risen by 328k in QI (+0.4 percent). The lift takes the population to 24.1 million as at March 2016. NOM was 181k in the year to March 2016,  up from 177k in the year to March 2015. But well down from the peak of 315k in 2008. 
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%203.18.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%203.18.28%20PM.png" alt="">
Population growth is well above the national rate in Victoria. This underpins very strong employment growth in the Garden State, robust residential construction and strong State Final Demand (SFD). It does little for per capita SFD growth, however. The decline in mining investment and associated downturn in mining-related employment has contributed to a sharp slowdown in WA’s population growth rate. 
<a href="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%203.21.03%20PM.png" target="_blank">Click to enlarge</a>
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Table 1: Population growth – QI 2016 
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%203.21.03%20PM.png" alt="">
</div>
</div>
</div>
</div>
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>
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Australia clocked 24 million people in the March quarter: CBA's Gareth Aird

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The Australian arm of global property developer, Poly Australia has received development application approval on its house and land estate, Grove Place in Werrington NSW.
Poly has received approval from the Penrith City Council to develop its first house and land masterplanned development just a stone’s throw from the popular hub of Penrith in Sydney’s west.
The development will see the release of 67 lots of land sized between 310sqm to 795sqm and starting from $345,000.
Buyers can commission their own builder, or work with Poly’s preferred builder Rawson Homes, offering buyers the opportunity to design and build the most suitable home for each individual block of land. 
Poly Managing Director Arthur Wang said Poly was excited to receive DA approval for the 30,610sqm site at 229 Victoria Street in Werrington, which Poly anticipates will be a significant opportunity for young families, owner-occupiers, first home buyers and even savvy investors.
“Werrington is well and truly an up and coming suburb, and with nearby town hubs of Penrith and Parramatta on your doorstep, and a raft of transport amenities including Werrington Railway station, and proposed investment in new road infrastructure it is an attractive option for a range of buyers,” he said. 
“Young families will find Grove Place an ideal location with a childcare centre just a few seconds walk from the site, and over 15 hectares of parkland reserves and sporting grounds.”
“When you consider that with the same money you may only be able to purchase an apartment in nearby Parramatta or Penrith, Werrington’s Grove Place becomes a highly attractive option for not only young families, but savvy investors,” he said.
Grove Place by Poly starts construction in the first quarter of 2017 with the first homes expected to be completed by early 2018.
The project’s approval comes at a time when the western suburbs of Sydney are seeing major growth and infrastructure investment including Sydney proposed new airport in Badgerys Creek.
Werrington is a family-friendly suburb located in close proximity to the Napean Hospital and University of Western Sydney. The suburb includes a childcare centre, youth centre and community hall directly located adjacent to the masterplanned estate.
The site is located just five kilometres from the Penrith town centre which offers a range of retail and lifestyle amenities with easy access to other nearby town centres including St Marys and Blacktown. 
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Poly receives DA approval for Grove Place

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<img src="https://counter.theconversation.edu.au/content/63992/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The creative industries – ranging from game development to architecture, media, design and the arts – are a hot issue in urban development.
Creative businesses, almost by definition, are innovative. They drive new ideas, people and technologies into the market from the experimental edge. It follows, then, that strategies to make a state, city or town more creative can fuel cultural development, urban regeneration and economic growth.
The logic flows: attracting creative talent is increasingly tied to competing in global markets. Places with a creative industries base attract businesses and skilled workers from other knowledge-intensive industries like health, science, engineering and technology. This realisation has prompted regional governments across the globe, including some in Western Australia, to implement policies to make themselves more creative.
Australia’s creative industries contribute A$90 billion to the economyevery year. While making a city “more creative” has obvious economic rewards, gaps can emerge between policy and reality.
Creative businesses often struggle in the face of rising rents and development pressures. They may have difficulty in accessing property, finance and business advice.
The sector is also characterised by freelance, part-time and portfolio work. This means financial insecurity, uncertain employment and demanding working conditions are real challenges for a large proportion of its workers.
What do creative industries need to thrive?
Many cities, including some Australian state capitals, have to unpick the mechanics of city regeneration, which complicate creative industry development, through investment.
This public investment is often most visible in designated innovation or cultural precincts. The large public institutions and signature buildings typically found in these areas make plain governments’ involvement.
However, iconic architecture and major events alone aren’t enough to build robust creative economies. The creative economy in Australia is underpinned by the 98% of creative businesses with fewer than 20 employees. This sector plays an outsized role in innovation, experimentation and new ideas.
When municipal or state governments join forces with these smaller creative communities to shape urban regeneration the results can be far-reaching, although government’s role is often less visible.
The creative sector feeds on affordable commercial space, physical and digital connectivity and a critical mass of like-minded but diverse neighbours.
Small-to-medium creative enterprises are often deeply embedded in their local contexts. They are also highly networked, using formal and informal platforms to match ideas with potential collaborators, as well as private, government and third-sector investors.
Creating clusters from scratch is notoriously difficult. Building on latent and emerging clusters by leveraging existing property assets and local knowledge is far simpler. It also usually works a lot better.
This approach sounds intuitive, but often doesn’t happen. The reason is a heavy stakeholder focus on building something new, as well as control over land and property use.
Lessons from Amsterdam and Toronto
Amsterdam’s municipal council has introduced economic, cultural and spatial development policies that involve partnering small-to-medium creative entrepreneurs to rehabilitate brownfield sites. Creative-led partnerships have developed clusters at De Ceuvel, NDSM Wharf and Tolhuistuin.
The municipality has ceded some of its usual powers to the sector, with responsibility for delivery and success shared.
At Tolhuistuin, the council provides the land, old building stock and a maintenance budget for a fixed period while the creatives develop the precinct themselves (under the watch of a board). The outcome is a new asset-based blueprint for sustainable mixed-use urban development.
Tolhuistuin’s early seeded clusters set the stage for larger projects. These include the Eye Film Institute, the A’DAM Toren and the redevelopment of the Van Der Pek and Overhoeks precincts.
This all builds on the municipality’s longstanding broedplaatsen (breeding ground) program. This promotes creative clustering in underutilised buildings across the city by releasing 10,000m² of studio space per year.
The creative industries are empowered to take the lead in developing these projects. Amsterdam council unlocks funding sources and offers expert advice on bureaucratic and legal processes.
In Canada, Section 37 of the Ontario Planning Act has helped transform private, government and creative sector partnerships. It allows development regulations to be relaxed in exchange for community benefit, which includes creating living spaces for creatives.
In the early 2000s, social enterprise Artscape, supported by the City of Toronto, leveraged Section 37 to develop Artscape Triangle Lofts, home to 68 creative live/work units and Propeller Gallery. An innovative affordable ownership and rental program ensures a mix of uses and incomes in the building.
Toronto’s far-sighted policy decision helped the city retain and grow its creative community in the face of rising property prices. Today the sector contributes C$9 billion a year to Toronto’s GDP and employs 130,000 people.
Get in early, start small
The takeaway from this is that constructing a creative economy means implementing long-term transitional strategies to build talent and capacity over time. This avoids the need for more interventionist, expensive and risky strategies down the line.
WA towns and cities have an enviable opportunity to set up the conditions for a healthy creative economy before regeneration of their older building stock comes to pass. Nurturing this sector through a mix of smaller policy interventions could be an affordable and effective way to kick-start sustainable creative economies.
More modest interventions allow the luxury of learning from failure and trialling more experimental ideas. These can then flow through to the wider creative ecology.
All ecologies rely on an ongoing interplay between the large, medium and small. Each brings something different to the table to create a whole greater than the sum of its parts.
This requires a policy mix that can support big-ticket projects along with investment in sustainable careers and spaces for small-to-medium creative enterprises. This is true creativity at work.
Bree Trevena is PhD researcher, Research Unit in Public Cultures, University of Melbourne and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/bree-trevena-292259" target="_blank">here</a>.
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Create to regenerate: cities tap into talent for urban renewal

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GUEST OBSERVER
The Strata Schemes Management Act 2015 (NSW), which is now expected to commence on 1 October 2016, makes some significant changes to the existing statutory dispute resolution procedures that strata manager’s, owners corporations and lot owners should be aware of. These are detailed below but first, we look at the existing dispute resolution process.
The Current Dispute Resolution Process
The current Act, the Strata Schemes Management Act 1996 (NSW), requires most strata disputes to be mediated prior to an application being accepted by the NSW Civil &amp; Administrative Tribunal (NCAT) registry. There are a few exceptions including applications for interim orders and applications for the compulsory appointment of a strata manager. Mediations are usually conducted by mediators from the Office of Fair Trading. Mediations can take between one to three weeks to arrange.
Adjudicator’s Orders 
If an agreement was not reached at mediation, or, if the mediation agreement has been breached, in most instances the next step is to file an application for Strata Scheme’s Adjudicator’s orders. These applications are “heard on the papers”. This means that the applicant, respondent and any interested parties must file written submissions and evidence in accordance with the timetable provided by the NCAT registry. Evidence is usually by way of a statutory declaration. To view submissions made by interested parties you must contact the NCAT registry and make arrangements to view the file. NCAT copying fees will apply if you wish to make copies. After the closing date for submissions, an Adjudicator is assigned and they review the filed documents and make a written decision which is then posted out to the parties.
If you wish to appeal the decision of an Adjudicator then you must file an application for NCAT orders. Strict time limits apply and legal advice should be sought on the date the order takes effect and the time limit for filing an appeal. Leave to appeal outside of time can be applied for however it can be difficult to obtain. Costs orders are not available in this type of application.
Interim Orders 
These are Adjudicator’s orders that are made on an urgent and usually ex parte (meaning without the other party being present) basis. They are generally reserved for matters where an order is required to preserve the status quo prior to an Adjudicator making final orders. Interim order applications must be filed together with applications for Adjudicator’s orders.
Tribunal Orders
Applications for Tribunal orders are filed with the NCAT Registry. The Registry serves the application and a notice of directions hearing. Unlike Adjudicator’s orders, the parties must attend NCAT for hearings. Applications can be made for telephone hearings in some circumstances.
There is no right of appearance in NCAT and leave to appear must be sought at either the first directions hearing or in writing beforehand. At the first direction hearing, orders setting out a timetable for the progression of the matter are made. These will include dates when submissions and evidence are due. The Registry will also re-list the matter, for a further directions hearing or for final hearing.
Although the rules of evidence do not apply (except in civil penalty matters such as for a breach of a notice to comply) the proceedings are similar to court proceedings in that both parties are to appear and argue their case before a NCAT member. The Member may restrict each parties’ time to provide arguments and adduce its evidence. At the end of arguments the Member may reserve their decision or give an oral decision when the arguments have closed. You have the right to request written reasons for the decision.
Appeals are strictly limited both in time and the types of appeals that can be made. We recommend you seek legal advice before instituting any appeal.
 The new NCAT Process
The Strata Schemes Management Act 2015 provides for a new dispute resolution process. Owners Corporations can establish their own independent dispute resolution process and the NCAT is given wider powers. Mediation is still required however prior to applying for orders for most types of matters.
Arguably the largest change is that there will be no more applications for Adjudicator’s orders and all applications must be made for Tribunal orders. This means that all applications will now be heard in person (or if leave is granted over the telephone) and parties will need to attend the NCAT to present their arguments and evidence. Leave to appear is still required and the same provisions of the Civil &amp; Administrative Tribunal Act 2013 (NSW) apply to applications for leave. The process for Tribunal orders detailed above will remain the same although it is expected that there will be an increase in the number of matters listed at each directions hearing (meaning more time should be set aside to attend directions hearings) due to all matters now being heard by the Tribunal.
The ability to appeal from a Tribunal decision is unchanged. 
Allison Benson is legal practitioner director, Kerin Benson Lawyers and can be contacted <a href="https://kerinbensonlawyers.com.au/">here</a>.
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Property 101:  Dispute resolution and NCAT

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A securely leased retail property in Melbourne’s Surrey Hills was recently snapped up by a local investor on a tight yield of 4.16 percent. 
The 540 Whitehorse Road property comprises a 210 square metre building over two levels on a 217 square metre site. 
Located within a well-established retail strip, which includes a number of restaurants and cafes, the property sold $300,000 above expectations. The transaction price wasn’t disclosed.
The property was sold subject to a five-year lease with a five-year option to long-standing tenant, Triple King Chinese Restaurant, at $62,400 per annum.
The selling agents were Teska Carson’s Anthony Choi and Michael Taylor.
According to the agents, the expressions of interest campaign attracted strong interest from both local and offshore investors. 
“This was clearly an attractive property which ultimately sold at a 30 per cent premium over the last comparable transaction in the vicinity - a great result for the vendor and a great result for property values in the area,” said Choi.
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