Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

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>

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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?

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

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The weekend's top sale was pre-auction in Sydney's Gladesville  for 65 Wharf Road, a six bedroom riverfront (above).
It sold for at<a href="https://www.realestate.com.au/property-house-nsw-gladesville-122231894" target="_blank"> $7,095,000</a> through McGrath agent John Paranchi.
Melbourne's highest was when 16 Barnsbury Road, Balwyn (below) sold for $6.36 million, a five bedroom house on 1760 sqm with tennis court.
<img src="/images/2016/05/02/image2.jpg" alt="" width="653" height="490">
A Chinese buyer on a significant investor visa secured the Balwyn home.
There was a $4.29 million Brighton strata sale at 2/21 Birdwood Avenue (below), with a three bedroom, three bathroom Edgard Pirotta-designed beachfront townhouse.
<img src="/images/2016/05/02/main-1.jpg" alt="" width="641" height="481">
It last sold in 1999 at $1.54 million.
Melbourne held 1,272 auctions this week with a preliminary clearance rate of 74 percent this week. 
Some 803 Sydney auctions were held, up from 643 last week and lower than last year when 914 were held. Sydney’s clearance rate fell over the week to 74 per cent, from 77.4 per cent last week.
Preliminary results for Brisbane show a 49.5 per cent clearance rate, up from 37.6 per cent last week, which was the weakest result so far this year. 
<a href="/images/2016/05/Screen%20Shot%202016-05-02%20at%2012.04.19%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/Screen%20Shot%202016-05-02%20at%2012.04.19%20PM.png" alt="">
 
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jchancellor-FAypfDUnLy

Gladesville secures weekend top sale with Balwyn next priciest, then Brighton

How are Australia’s states and territories performing? CommSec's Craig James

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<div>Given that APRA's crackdown on investor lending has skimmed so many high loan-to-value ratio (LVR) investors out of the property market, it was always going to take a super-human 1Q 2016 investor update from Genworth Mortgage Insurance (GMA) to keep its share price buoyant.</div>
<div> </div>
<div>In the event, GMA reported statutory net profit after tax (NPAT) of $67.3 million and underlying NPAT of $61.8 million for the quarter ended 31 March 2016.</div>
<div> </div>
<div>Overall this was a solid set of results given that Gross Written Premium was down by a thumping 33.4 per cent from 1Q 2015, having declined dramatically from $127.7 million to $85 million.</div>
<div> </div>
<div>This statistic is a fabulous measure of the impact of the regulatory intervention - the riskier loans have largely been crimped out of the property market.</div>
<div> Delinquencies</div>
<div> </div>
<div>Genworth's portfolio delinquency rate was marginally higher at 0.40 per cent, up from 0.36 per cent in 1Q 2015.</div>
<div> </div>
<div>Overall mortgage delinquencies remain remarkably low, and can realistically only move in one direction from here, particularly given that numerous resources towns in regional Queensland have effectively become ghost towns.</div>
<div> </div>
<div>Unfortunately many investors were sucked in to buying in mining towns and regions lured by superficially "stronger" yields, but unfortunately in many cases there is now nobody to rent the houses to, and as equity turns negative foreclosure rates will inevitably rise.</div>
<div> </div>
<div>The lesson here is that "yield" and "income" are not the same thing, and that as an abstract spot calculation yield is largely useless as an indicator of future returns. This applies to all asset classes.</div>
<div> </div>
<div>Even in some of the larger conurbations there are likely to be some severe challenges ahead, with unemployment in Townsville having risen to a <a href="https://petewargent.blogspot.com.au/2016/04/townsville-unemployment-at-13-year-high" target="_blank">13 year high</a> last month.</div>
<div> </div>
<div>Despite these bleak statistics, overall delinquency developments have shaped up quite favourably since 2009, with mortgage delinquencies by book year having cascaded lower over time. </div>
<div> </div>
<div>The 2008 book year saw heightened mortgage stress among self-employed borrowers as a result of the financial crisis (0.98 per cent), while flooding in Queensland saw elevated delinquency rates in the 2011 book year.</div>
<a href="/images/2016/05/02/GMA.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/02/GMA.jpg" alt="">
 
<div>At the state level delinquency rates are incredibly low in New South Wales (0.29 per cent).</div>
<div> </div>
<div>Delinquency rates are notably higher in Queensland (0.55 per cent), in part due to mining town foreclosures, and largely related to the literal wash-up from the severe 2011 flooding in the state.</div>
<div> </div>
<div>The largest year-on-year rise in delinquency rates of 16 basis points was seen in resources rich Western Australia, where portfolio delinquencies have increased to 0.53 per cent.</div>
<div> </div>
<div>Nevertheless, Genworth sees the mortgage market remaining strong in aggregate, reporting in its investor update:</div>
<div> </div>
<div>"The outlook for the Australian residential mortgage market remains strong, supported by sound fundamentals including low unemployment, record-low interest rates and a continued focus by regulators on lending standards."</div>
<div> </div>
<div>And notably Genworth expects further constraints on high LVR lending in 2016 and beyond:</div>
<div>
 "The high LVR market continues to be constrained in 2016 and Genworth continues to expect GWP to decline by approximately 20 per cent due to these market conditions."
</div>
<div> </div>
<div>Share market analysts were fairly unmoved on the news, the share price steady at around $2.39.</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>
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pwargent-M4siyDbqQY

Genworth mortgage insurance update: Pete Wargent

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In making a preliminary decision on the sale of S. Kidman &amp; Co to a Chinese consortium, the Treasurer Scott Morrison has shed some light on what the government defines as being in the “national interest”.
He describes the Chinese bid as being contrary to Australia’s national interes<a href="https://sjm.ministers.treasury.gov.au/media-release/050-2016/?utm_source=wysija&amp;utm_medium=email&amp;utm_campaign=Media+Release+-+Preliminary+decision+of+foreign+investment+application+for+purchase+of+S.+Kidman+%26+Co+Limited">t</a>, because:
“the form in which the Kidman portfolio has been offered as a single aggregated asset, has rendered it difficult for Australian bidders to be able to make a competitive bid.”
The decision was rationalised not on any of the pre-existing national interest test provisions, but rather the fact that Australian companies had struggled to make a competitive bid.
By doing this, the Treasurer has articulated a new policy objective, not previously part of the national interest test: that an Australian firm should have a substantial stake in the bidding process.
<h2>How is national interest defined?</h2>
The consortium bid for Kidman, the largest private land holding in Australia, was subject to approval by the Treasurer and the Foreign Investment Review Board (FIRB). All investments which are screened by the FIRB are subject to a “national interest test”.
The specific content of this test is not legislatively defined, and is decided on a case-by-case basis according to the judgement of the Treasurer. However, the FIRB does provide investors a set of ‘guidelines’, which outline five factors that are usually considered. These include: national security, competition policy, other Australian government policies and regulations (including environment and tax), the impact on the economy and community as a whole and the character of the investor.
There are also an additional set of six guidelines for the agricultural sector, which cover issues relevant for this industry such as land access, biodiversity, productivity and employment.
These guidelines were most recently re-issued in December 2015. However, they have remained relatively unchanged since the last major revision by the Rudd government in 2008, which was made in the wake of Chinalco’s intervention into a proposed BHP-Rio Tinto takeover. Significantly, none of these provisions express a requirement for local ownership in the agricultural sector.
In recent years, the overwhelming majority of investment applications assessed by the FIRB have passed the national interest test. In the relatively rare cases of rejection, it has consistently been for one of the above reasons. Examples include the ADM bid for GrainCorp <a href="https://jbh.ministers.treasury.gov.au/media-release/026-2013/">(</a>rejected in 2013 on competition policy grounds<a href="https://jbh.ministers.treasury.gov.au/media-release/026-2013/">)</a>, and the Singapore Stock Exchange’s attempted merger with the ASX (rejected in 2011 on financial regulatory grounds).
However, Scott Morrison’s preliminary decision to oppose Dakang Australia’s bid for S. Kidman and Co. fundamentally reinterprets these guidelines. Despite the fact the sale process was found to be open and commercially sound, it has been rejected.
The clear message is that sale process now needs to be re-run – with the assets disaggregated – to ensure less-competitive local companies can win at least some of the assets.
This is akin to moving the goalposts when the outcome is not what you desired. It is also inherently protectionist. It rewards Australian firms who will now get a second chance to pick up a part of the Kidman portfolio.
In essence, the Kidman decision is a de facto introduction of a local ownership policy for agricultural land. Outside of sensitive sectors (such as media), Australia has not maintained any formal local ownership rules since 1992. This makes the Kidman rejection was of the most significant foreign investment decisions made in several decades.
It is clear that the Treasurer sees Australian bidders as crucial to ensuring national interests are looked after, what is still not clear is definition of “foreign interest.”
<h2>How is foreign interest defined?</h2>
The Kidman decision comes as a senate inquiry examining the effectiveness of the Foreign Investment Review Framework finishes. The <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Foreign_Investment_Review/Report">final</a> and supplementary reports from the inquiry point to a lack of consistency and transparency of foreign investment decision making between the states and the commonwealth, particularly regarding sales of agricultural land to foreign interest.
At the moment the Foreign Acquisition and Takeovers Act 1975 deals with any foreign people or corporations that are seeking to acquire or to merge with a whole or a part of an Australian business. If a transaction exceeds a certain limit (different limits are applied to different industries) it’s reviewed by the Foreign Investment Review Board(FIRB).
However this Act doesn’t have a definition of foreign interest. This is crucial because since 1975, the picture of the world has dramatically changed.
According to ABS, until late 1980s, Australia’s investing partners were mostly persons and companies from developed market economies. Therefore, there could be little concern that Australia’s foreign counterparts were different to investing domestic entities.
These companies were either seeking profit or also seeking company control as direct investors and usually didn’t report to or take directives from any government on commercial decisions.
In late 1980s, new market economies emerged in place of both former communist countries, and reforming and rapidly growing third world nations. In some of those nations, such as most counties that replaced the former USSR, as well as in China, different forms of mixed private and public ownership in companies have been established with different roles and powers of governments in companies' decision making.
Despite of large scale privatisation, state and mixed ownership is still important and increasingly so in Russia. By 2014 China has become the 7th largest foreign investor in Australia, ahead of such countries as Germany, New Zealand, France. Meanwhile, ownership is rarely straight forward in China; and the countries' 500 global companies are mostly state-owned.
However, the 1975 Act does not require that the FIRB to look into the proportion of foreign government’s ownership in a company; involvement of a foreign government in company’s decision making (particularly, through government’s representation on the board of directors); government’s orders that limit company’s commercial independence; or compliance with legislation beyond that which normally regulates commercial activities.
This issue could be addressed by including foreign interest independence test into the FIRB process. Such a test needs to deal with the magnitude of sovereign ownership and sovereign involvement in foreign company’s decision making.
The idea of such a test was suggested on one of the submissions to the review, but did not find it’s way to the report.
Gennadi Kazakevitch is deputy head, Department of Economics, Monash University and can be contacted <a href="https://theconversation.com/profiles/gennadi-kazakevitch-90201" target="_blank">here</a>.
Jeffrey Wilson is fellow of the Asia Research Centre, Murdoch University and can be contacted <a href="https://theconversation.com/profiles/jeffrey-wilson-12717" target="_blank">here</a>.
Both are authors for The Conversation.
 
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Morrison’s ruling on Kidman & Co sale redefines the national interest test

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You must keep full and accurate accounting records that:
<ul>
<li>show the true position of all trust money received </li>
<li>enable your trust accounts to be properly audited. </li>
</ul>
Your accounting records must show:
<ul>
<li>who is entitled to the trust money </li>
<li>details of each trust money transaction </li>
<li>dates on which, or the period during which, each transaction took place. </li>
</ul>
Whenever a trust money transaction occurs, you must update your accounting records by the end of the next business day. 
The Estate Agents (General, Accounts and Audit) Regulations 2008 set out the required:
<ul>
<li>accounting documents </li>
<li>procedures </li>
<li>details to be kept.</li>
</ul>
If you are seeking technical or accounting information, or information not available on our website, ask your accountant or auditor for advice in the first instance.
Cash receipts journal
You must keep a trust account cash receipts journal, recording all money received daily.
This must include the:
<ul>
<li>number of the receipt </li>
<li>date the receipt was made out and, if different, the date on which the trust money was received </li>
<li>amount of money received</li>
<li>form in which the money was received; for example, cash, cheque or EFT </li>
<li>name of the person from whom the money was received </li>
<li>name and reference number or other identification of the person on whose behalf the money was received </li>
<li>details clearly stating why the money was received </li>
<li>details identifying the ledger account to be credited.</li>
</ul>
Cash payments journal
You must update a cash payments journal with all daily withdrawals from the account.
For payments made by cheque, this must include the:
<ul>
<li>date, serial number and amount of the cheque </li>
<li>name of the person the payment was made to; or, for a cheque made payable to an authorised financial institution, the institution’s name or BSB and the name of the person receiving the benefit of the payment </li>
<li>name and reference number or other identification of the person on whose behalf the cheque was drawn </li>
<li>details of the account in the trust ledger to which the cheque is to be debited </li>
<li>details of the purpose for which the cheque was drawn.</li>
</ul>
For payments made by EFT, this must include the:
<ul>
<li>date, reference number and amount of the transfer </li>
<li>name of the person to whom the payment was made; or, for a payment to an authorised financial institution, the institution’s name or BSB and the name of the person receiving the benefit of the payment </li>
<li>name and number of the account, including the BSB number, to which the amount was transferred </li>
<li>name and reference number or other identification of the person on whose behalf the transfer was made </li>
<li>details of the account in the trust ledger to which the payment is to be debited </li>
<li>details of the purpose for which the payment was made.</li>
</ul>
Payments must be recorded in the order in which they were made.
Transfers
You must not transfer money between accounts in the trust ledger unless you are entitled to transfer the money for that purpose. 
For example, you may transfer money from a landlord’s ledger to a commission ledger if the landlord has signed a property management authority that entitles you to claim commission.
You must record transfers in a journal kept exclusively for that purpose.
Entries in a transfer journal must include:
<ul>
<li>the date of the transfer </li>
<li>the amount transferred to and from each ledger account </li>
<li>the names of all ledger accounts to be debited or credited, including identifying references </li>
<li>details that clearly identify the purpose for which the money was transferred.</li>
</ul>
Trust ledger accounts
You must keep a ledger consisting of a separate identifiable account for each:
<ul>
<li>person on whose behalf you hold trust money </li>
<li>transaction for which you hold trust money.</li>
</ul>
The title of each ledger account must include the:
<ul>
<li>name and address of your client</li>
<li>purpose for which the money was received.</li>
</ul>
You must record the following details in the trust ledger account when you receive trust money, cheque payments, electronic funds transfer (EFT) payments or transfer of funds via journal entry:
<ul>
<li>date of issuing receipt, receiving money, making payment, or funds transfer </li>
<li>receipt, cheque, EFT payment or journal number </li>
<li>name of the person the money was received or paid from, or ledger account the money was transferred to</li>
<li>purpose for which the money was received, paid or transferred </li>
<li>amount received, paid or transferred.</li>
</ul>
You must record transactions relating to trust money in the trust ledger account in the order in which they occur.
You must also ensure that a trust ledger account has a continuous running balance, showing the amount held.
Monthly reconciliations
You must balance your trust accounts and prepare statements each month. The balances you must reconcile are:
<ul>
<li>cash journals </li>
<li>ledger accounts </li>
<li>accounts at your authorised financial institution.</li>
</ul>
The principal agent or officer in effective control must verify the reconciliation statements as true and accurate within 14 days of the end of each month. 
Storage and back-up of records
You must keep trust records for at least seven years.
You must back up electronic records at least once a month. The principal agent or officer in effective control must keep back-up copies and a complete set of copies must be stored at a separate location.
Computerised accounting systems
If you use a computerised accounting system, it must:
<ul>
<li>keep a record of any information created, amended or deleted that relates to the:</li>
<ul>
<li>seller’s or landlord’s name and address, reference number or other identification </li>
<li>description of each transaction </li>
<li>ledger account reference number or other identification for each trust ledger account</li>
</ul>
</ul>
The record must show the details before and after this information was created, amended or deleted
<ul>
<li>not accept entries of transactions that result in a debit balance in a trust account, unless there is a chronological record of the details of the change that can be produced on request </li>
<li>not be able to delete a trust ledger account unless the balance is zero and all outstanding cheques have been presented. When the account is deleted, the system must retain a permanent copy </li>
<li>not be able to amend the details of a transaction already recorded, except by recording a separate transaction that makes the amendment </li>
<li>require input in every field of a transaction data entry screen that receives information required by the Act and the Regulations </li>
<li>be backed up at least once a month. Each back-up copy must be retained by the agent in charge of the business or the officer in effective control, and a complete set of the back-up copies must be kept in a separate location.</li>
</ul>
Using an estate agent trust accounting software package can make it easier to comply with many of these requirements. 
General accounting software packages may also be of some assistance; whichever system you use, it is your responsibility to ensure you comply with the Act and Regulations.
Register of securities 
If you hold securities, documents of title or receipts for trust money on behalf of another person, you must keep a register of these. 
The register must show:
<ul>
<li>the date the security, document of title or receipt was received </li>
<li>a description of the security, document of title or receipt </li>
<li>the value or amount of the security or money deposited </li>
<li>the name of the person the security, document of title or receipt is held for</li>
<li>the date you delivered the security, document of title, or receipt to another person, and the name of the person you gave it to</li>
<li>the reason the security, document of title or receipt is being held </li>
<li>if the security, document of title or receipt is held jointly with another estate agent, the name under which they operate an estate agency business.</li>
</ul>
Deficiencies in a trust account
You must notify us, the agency director and your auditor within three business days of becoming aware of a deficiency in a trust account or trust ledger account.
This notification must include: 
<ul>
<li>the date on which the deficiency occurred </li>
<li>the amount </li>
<li>the reason it occurred </li>
<li>any action taken to restore it. </li>
</ul>
You do not need to notify us if the deficiency was: 
<ul>
<li>accidental, or caused solely by an error by an authorised financial institution, and</li>
<li>rectified within two business days after you became aware of it.</li>
</ul>
Unclaimed money
If you cannot identify the person entitled to trust money, those funds may be considered unclaimed money under the Unclaimed Money Act 2008.
For information on what to do with unclaimed money, visit the <a href="https://www.sro.vic.gov.au/" target="_blank">Victorian State Revenue Office website here</a>.
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Property 101: Accounting for trust money - rules for estate agents in Victoria

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CBRE’s Asia Pacific Sustainability team will provide NABERS energy assessments in Hong Kong.
The assessments on some 143,000sqm of selected assets in Link REIT’s retail portfolio in Hong Kong are being done to benchmark building performance, energy saving and efficiency.
Link REIT is the first real estate investment trust in Hong Kong and the largest in Asia in terms of market capitalisation.
Link’s general manager of sustainability Calvin Lee Kwan said the NABERS pilot will allow us to assess the energy performance of our assets using a tried and tested methodology and to benchmark asset performance internally as well as externally.
“Since 2010, Link has implemented a comprehensive and ambitious energy management strategy which has so far achieved over 26 percent reduction in total energy consumption across the portfolio," he said.
CBRE will initially rate nine shopping centres over several locations, looking at specific features such as floor layout, opening hours, energy consumption, car park provisions and vacancy rates.
 The assets undergoing NABERS assessments include; Lok Fu Plaza; Chung Fu Plaza; Leung King Plaza; Hau Tak (II) Shopping Centre; Wong Tai Sin Plaza (Temple Mall South); Lung Cheung Plaza (Temple Mall North); On Ting Commercial Complex (also known as H.A.N.D.S); Yau Oi Commercial Complex (also known as H.A.N.D.S); and Stanley Plaza. 
The pilot project will see the assets assessed using the Australian Queensland postcode and associated climatic algorithms – the most similar existing climatic algorithm to Hong Kong in the NABERS scheme.
The Living Future Institute of Australia (LFIA) has launched the Brickworks Living Building Challenge design competition, pressing the go button for designers, built environment professionals and students around the world to conceptualise what the world's most sustainable retail centre ought look like. For more information, <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/52152-australia-aspires-to-global-green-leadership-the-living-building-challenge" target="_blank">download our eBook here</a>.
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International first for NABERS in Hong Kong

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Australia's second largest dry dock along with 14 hectares of prime Brisbane river front land at Morningside will be sold off by shipbuilder Forgacs.
It will become new apartment and commercial office developments.
It has been owned by Forgacs Engineering since 2000.
Industry sources told the Australian Financial Review the Cairnscross Quays property, at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-morningside-501849666" target="_blank">405 Thynne Road</a>, could yield a total project realisation in the order of $1 billion, which would put a land value of about $100 million.  
The property comprises the Cairnscross dry dock left from World War II, situated 4.5 kilometres from the Brisbane CBD.
There is 700 metres of Brisbane River frontage. 
JLL's national director Seb Turnbull said the property was a "generational opportunity."
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Cairnscross dry dock for sale in Brisbane

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Wyndham Harbour Marina, on the western shores of Port Phillip Bay near Werribee in Melbourne, was declared officially open recently.
Welcoming the event, the Boating Industry Association of Victoria (BIAV) said it was a major indication of the importance of residential marina developments to the Victorian economy.
"The marine sector in this state as an industry is worth $4.5 billion to the Victorian economy and provides over 17,700 FTE jobs," said Steven Potts, chief executive of the BIAV.
The projected increase of the population in the central coast area of Victoria, including Port Phillip and Western Port, to nearly 8 million by 2050 from 4.6 million, will see a doubling of boating activities and boost Victoria's 'Blue Economy'.
<img src="/images/2016/04/22/Screen%20Shot%202016-04-22%20at%208.42.35%20PM.png" alt="">
Potts said developments such as Wyndham Harbour Marina provide a pathway for the private sector to assist in development of Blue Infrastructure, for which the Victorian government or local councils do not have sufficient funds.
The event was attended by Hon. Tim Pallas, State Treasurer.
There are over 172,000 registered boats in Victoria, and with a rapidly growing population, the number of boats in the State is set to double due to increases in population and pressure on green space, seeing the community turning to the blue space of Port Phillip and Western Port Bays.
 
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prateek24-ezbwHMbNAk

New Wyndham marina in Melbourne expected to boost Victorian economy

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Fringe areas of Perth are showing definite signs of an easing trend as demand has fallen dramatically over the previous 12 months, according to valuation firm Herron Todd White's April property clock, a simple broad brush indicating where property values are and where they are headed to. 
Perth was a declining market, both for houses and units, in the HTW property clock. 
<a href="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%201.34.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%201.34.54%20PM.png" alt="">
 Properties are commonly transacting below their previous sale or valuation amount and negative equity situations remain a serious concern, says the HTW report. 
These areas have typically been driven by high demand from both investors and first home buyers, however, supply appears to be far stronger than current demand due to multiple factors. Part of the issue has been the dramatic increase in land values in these areas which usually begin life targeting first home buyers but experienced a very strong uplift in values during the resource boom on the back of strong net migration figures. This created significant affordability issues and first home buyers were pushed further away from the CBD.
<a href="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%2012.53.43%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%2012.53.43%20PM.png" alt="">
The neighbouring suburbs of Ellenbrook, Aveley, Brabham and Dayton on the north eastern fringe of Perth are very good examples. Ellenbrook and Aveley are very successful, somewhat established master planned communities of some 30,000 residents, while the newly establishing suburbs of Brabham and Dayton are situated slightly to the south. The driver for demand in the area has been the ability to live in a modern community with a reasonable choice of housing. On the negative side, transport throughout the area is limited to bus services and private vehicles as there is no current train service to the area.
The affordability of the area was attractive for investors during the rental squeeze experienced during the resources boom, with strong rental returns on offer. This led to a surge in demand and a subsequent increase in values, which has since subsided. Further, the area is likely to experience significant supply for the foreseeable future and as such we would expect land values to ease in line with current established housing statistics and is therefore unattractive in the short term. The long-term outlook of the area remains strong as much needed infrastructure comes to fruition, however, yields are unlikely to improve dramatically in the short term.
The northern suburb of Butler is another interesting proposition. The suburb is situated adjacent to the coastal suburbs of Jindalee and Alkimos, some 40 kilometres north of the Perth CBD. Growth has been subdued in the area over the previous five years with just a 0.6 percent change in the median house price and more recent reports of a reduction in the median house price by 3 percent in the past 12 months and 0.7 percent over the previous quarter. 
The proposed extension of the Mitchell Freeway will not extend all the way to Butler but it will get it several suburbs closer which is bound to have a positive flow on effect in the future. The area remains attractive due to its affordability and promise of a near to the coast lifestyle. Yields are expected to improve as coastal suburbs are developed and the appeal of the area increases.
The southern suburb of Baldivis is also experiencing subdued performance due to its fringe location, extensive supply of land and a reluctance by local developers to re-price their land estates. Baldivis has long been seen as a haven for first home buyers, with ample parkland, new public facilities including several schools and modern shopping facilities. Similar to many fringe areas, new construction has slowed as demand has waned. 
There is a multitude of newly constructed dwellings on the market for less than replacement cost, hence the short-term outlook is less than positive. It is common for properties not immaculately presented or of a less than desirable quality to battle to attract any interest and it’s a true buyer’s market. Land values require adjusting to re- invigorate the appeal of the area before the effects of oversupply really hit and the suburb begins to stagnate.
Unfortunately the fringe areas of Perth are unlikely to experience any significant increase in demand in the short term unless land pricing is reviewed or construction costs ease. We would expect established properties in these areas to perform better than house and land packages in the short term and yields to stagnate. 
Property Observer looked for recent sales in the fringes of Ellenbrook and Butler. The median house price of houses in Ellenbrook was $427,500, according to CoreLogic RP Data. The data for units wasn't available.
<img src="/images/2016/04/29/700_htw1.jpg" alt="" width="545" height="331">
Recently, a three-bedroom house at <a href="https://www.realestate.com.au/property-house-wa-ellenbrook-122145450">8 Boorara Road Ellenbrook WA 6069</a> sold for $420,000, according to www.realestate.com.au.
In Butler, postcode 6036, the median house price was $433,000, while for units it was $347,500, according to CoreLogic RP Data. 
<img src="/images/2016/04/29/700_htw2.jpg" alt="" width="560" height="340">
Among recent sales around the median price, a three-bedroom house at <a href="https://www.realestate.com.au/property-house-wa-butler-121857558" target="_blank">105 Hollington Boulevard Butler WA 6036</a> sold for $410,000.
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Perth's fringes show easing trend in home prices: HTW

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Queensland’s Toowoomba sits on the list of most-searched suburbs list for 2015 by rent.com.au.
The median rent for all rental properties advertised in Toowoomba earlier this year was $267 per week, a fall of 5.31 percent from the last previous quarter. 
Toowoomba’s median price was also well below the median of $290 per week for surrounding suburbs which include East Toowoomba, Harristown, Newtown, North Toowoomba and South Toowoomba. 
The average days on market for all rental properties advertised in Toowoomba within the last 90 days improved by 15 days to 27 from the last quarter. Toowoomba also did better than the 40 days on market for surrounding suburbs.
Out of a total of 10 rental properties advertised in Toowoomba within the 30 days, six were houses and four were apartments. 
The price range of advertised properties was from $180 for a two-bedroom dwelling to $380 for four bedrooms.
As an illustration, Property Observer came across a couple of dwellings up for rent around the median price on <a href="https://rent.com.au/" target="_blank">rent.com.au</a>:
<img src="/images/2016/04/29/rent_1apartment.jpg" alt="" width="475" height="356"> A two-bedroom apartment at <a href="https://www.rent.com.au/property-apartment-toowoomba-4350-1711428" target="_blank">1/115 South Street, </a><a href="https://www.rent.com.au/property-apartment-toowoomba-4350-1711428" target="_blank">Toowoomba</a>, is up for rent at $270 per week. 
<img src="/images/2016/04/29/700_woomba2.jpg" alt="" width="532" height="326">
A three-bedroom house at <a href="https://www.rent.com.au/property-house-toowoomba-4350-1759878" target="_blank">8 Hamwood Street</a>, is up for rent at $300 per week.
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