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.

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<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.

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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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A new masterplanned community in Botany, <a href="https://www.frasersproperty.com.au/SMP/NSW/Tailors-Walk/Botany" target="_blank">Tailor’s Walk</a>, which was launched in December, has drawn good response showing robust demand for terrace homes.
Developed by Frasers Property Australia, 48 of the 173 properties offered in the first release were snapped up quickly, with seven of the initial 18 terrace homes offered sold at prices ranging from $1,600,000 to $1,660,000.
Prices at Tailor’s Walk start at $600,000 for the one-bedroom apartments, $790,000 for the two-bedroom apartments, $1,065,000 for the three-bedroom apartments, and $1,600,000 for the four-bedroom terrace homes.
The terraces within this release all span three levels, in four-bedroom configurations, and all have open-plan layouts.
“Each terrace home has been designed to maximise space and capture natural light via the two storey light well. This was definitely a strong selling point among the many interested buyers,” said Dino Carulli, sales and marketing director, Frasers Property Australia.
Designed by GroupGSA, the terrace homes include storage and basement parking, two bathrooms plus powder room, a second living area with double height ceilings, range in size from 232 – 237sqm and have direct access to private landscaped gardens.
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Botany development Tailor's Walk draws good response

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The debate around the NSW government's recent decision to amend the Property, Stock and Business Agents Act to exempt large commercial property managers from holding real estate licences rages on, with the Shopping Centre Council of Australia preparing a list of FAQs around the issue.
The council cites a lot of Victorian data -- it claims the Victorian Valuer General has a lot more relevant data -- but the NSW figures would be roughly the same, it says.
The SCCA argues that the impact would be even less in NSW as the state government has set higher thresholds for exemptions.
For context, the Independent Pricing and Regulatory Tribunal's 2015 Reforming Licensing in NSW report recommends that large commercial property managers who manage an estimated property value of at least $40 million, or a gross floor area of at least 20,000 square metres, or are managing properties for a related corporate entity should be exempt. 
Frequently Asked Questions
Q: How many commercial buildings will be affected?
A: Less than 1 percent.
In Victoria, according to the Victorian Valuer-General, only 510 commercial buildings (of a total of 72,857 commercial buildings) exceed 10,000 square metres. This means only 0.7% of commercial buildings would have been affected.
The NSW Valuer General has advised that he is unable to supply similar data for NSW. There is no reason to believe, however, the proportion in NSW would be substantially different to that in Victoria.
Q: How many commercial property sales will be affected?
A: Fewer than 4 percent.
According to RP Data, fewer than 4% of commercial property sales in NSW are for amounts greater than $10 million. Therefore, more than 96 percent of commercial sales will be unaffected. According to JLL's Australian Shopping Centre Investment Review and Outlook there were 41 sales of retail properties (including shopping centres) in NSW in 2014 which exceeded $10 million.
The buyers and sellers were, in all cases, either institutions or wealthy investors who understand property risks and do not need the protection of legislation.
(Many sales of commercial buildings worth more than $10 million already occur 'off market,and no real estate agent is involved. This change will therefore actually involve far fewer than the 4 percent of commercial sales referred to above.)
Q: How many real estate agents will be affected?
A: Around 2 percent.
In Victoria in 2014 SCCA members held 302 agent and agent representative licences. According to Consumer Affairs Victoria (CAV) there were a total of 23,279 such licensees in Victoria at June 30, 2014. Assuming all SCCA members had taken advantage of the regulation, only 1.3 percent of licensees would have been affected. If we assume the number of licensees managing commercial buildings is around 200 (an estimate we believe to be excessive), then only 2.2 percent of licensees would have been affected. We don't have figures for NSW but believe the proportion in NSW would be similar.
Q: How many real estate agencies will be affected?
A: Around 0.2 percent.
Sales of commercial properties in excess of $10 million are almost always handled by the large commercial real estate agencies (JLL, Savills, Colliers, CBRE, Knight Frank), not the smaller commercial agencies. These agencies are members of the SCCA and/or the PCA and support the SCCA and PCA policy to provide these exemptions.
In reality, the same agents who handle the sale of these properties will continue to do so because they are very experienced in such transactions and shopping centre owners are likely to continue to utilise the services of these specialists in the large agencies because of their expertise, not because they are licensed. The transaction threshold of $10 million will therefore have negligible effect on the commercial real estate agencies.
According to CAV, there were 3,599 real estate agencies in Victoria in 2014. Only six (i.e. 0.2 percent) would have been affected if the exemptions had been in place in Victoria in 2074 and had been applied to retail property sales over $15 million. This is also true of NSW.
Q: What is the current cost of this regulation to commercial property owners in NSW?
A: In excess of $4 million a year.
During deliberations on the National Occupational Licensing System, we provided details of the cost of only three aspects of regulation - licensing, professional development and trust account regulation - for commercial property owners around Australia. This amounted to more than $12 million a year. The cost in NSW could therefore reasonably be assessed as $3.84 million a year, This does not take into account a range of other costs such as management time involved in implementing and overseeing systems to ensure compliance with the legislation. (There is also a cost to the NSW Government in staff resources in Fair Trading currently occupied in licensing, compliance and enforcement).
Q: What impact will this have on tenants?
A: None.
Retail tenants have never been protected by the Property Stock and Business Agents Act. This Act regulates the relationship between property owners (the'consumer') and property managers ('estate agents'). Tenants remain fully protected by the Retail Leases Act, which regulates the relationship between the owner/manager and the retail tenant, and is unaffected.
The RLA, as well as regulating most aspects of the owner-tenant relationship, also provides dispute resolution provisions involving the Small Business Commissioner (mediation) and NCAT (arbitration).
Q: Is the exemption supported by retail tenants?
A: Yes.
The real estate license concentrates on residential property and real estate agency matters and teaches the licensee nothing about shopping centre management or leasing or the Retail Leases Act. This is why the exemptions are supported by both the Australian Retailers Association (ARA) and National Retail Association (NRA).
Q: What impact will this have on trust accounting requirements?
A: None.
Property managers receive money on behalf of owners in three ways: Sale deposits (i.e. when a building is sold). There is currently no requirement in the Property Stock and Business Agents Act for such deposits to be paid into a trust account i.e, it is unregulated. Therefore nothing changes. It is a matter for the sale agreement as to where such moneys are deposited. As a matter of commercial practice, such deposits are usually held in trust accounts until the sale is finalised. This will not change.
Security deposits for leases (i.e. tenants are required to pay a security deposit equivalent to some months rent). This is regulated by the Retail Leases Act (s.24), not by the Property Stock and Business Agents Act, so nothing changes. In NSW, as a requirement of the Retail Leases Act, cash security deposits are required to be deposited with the Rental Bond Board so nothing changes. In practice, however, cash deposits have largely been replaced by bank guarantees so money is not involved.
Rent. This is currently required by the Property Stock and Business Agents Act to be paid into a trust account. Once the rent is paid by the tenant, however, this is the owner's money and it should be up to the owner to decide how it is banked. Large commercial owners move it immediately out of a trust account into an operating account in order to meet the operating expenses of the centre or building. This is 'double handling' and an unnecessary expense for owners. Large commercial property owners don't need Parliament to direct them how to bank their money.
Q: Is this the 'the thin end of the wedge' for deregulation of licensing?
A. No.
It is nonsense to suggest this will be the 'thin end of the wedge' and will lead to the complete removal of licensing. These exemptions do not apply to residential real estate or to rural property and no government is likely to ever deregulate in these areas. Nor is it likely there will be further exemptions for commercial property. The SCCA and PCA have no interest in pushing for further exemptions and are not arguing for wider exemptions. Once the exemption is granted the SCCA has no further interest in real estate licensing (as we have shown in Queensland).
Q: Will this mean the entry of 'cowboy operators' in the industry?
A: No.
Those who would benefit from the exemptions are/ in nearly all cases, publicly listed entities. They have an obligation to investors to manage their assets responsibly and only contract the services of reputable individuals and companies to manage and lease their assets or conduct sales transactions. It is insulting to the directors and senior management of these entities to suggest they would now contract 'fly-by-night' operators or that commercial property management will become the 'wild west'. The sums of money involved in exempt transactions means property owners will continue to do due diligence and only contract reputable companies to handle such transactions.
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Little impact from proposed commercial property management licencing exemption laws: Shopping Centre Council 

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Former Sydney finance broker, Jennifer Mary Farias, pleaded guilty to three charges of loan fraud which resulted in her receiving more than $100,000.
Farias was the director of finance broker, Mortgage Finance &amp; Insurance Pty Ltd trading as Up N Riding (MFI). MFI arranged finance for vehicles such as motorcycles, cars and jet skis on behalf of clients.
Appearing in the NSW Local Court at the Downing Centre in Sydney, Farias admitted to having received $96,270 in loan funds and $10,349.26 in commissions from a credit provider as a result of submitting 10 loan applications, through MFI, which contained false information and false invoices.
The invoices contained false information relied on by the credit provider when approving loans. Farias admitted the relevant loans would not have otherwise satisfied the credit provider's lending policies or would have been subject to more stringent lending policies. The false information contained in the invoices included:
<ul>
<li>a Mercedes Benz car had been sold by a dealer for $20,000 when in fact it had been a private sale for about $9,000;</li>
<li>a customer had bought a 2012 Toyota Landcruiser Prado with 62,036 kilometres on the odometer for $48,000 with a $25,000 deposit when in fact a 2006 Toyota Landcruiser Prado with 192,036 kilometres on the odometer was purchased for $21,500 with no deposit;</li>
<li>customers had bought on-road registrable motorcycles when in fact they bought off-road four wheel quad bikes; and</li>
<li>a customer had bought a jet ski for $15,000 with a deposit of $6,250 when in fact the jet ski had been purchased for $10,750 with a deposit of $2,000.</li>
</ul>
The false invoices also stated that approved loan funds should be deposited into bank accounts controlled by Farias rather than into those of the vehicle suppliers entitled to the proceeds of the loan funds.
One loan application was also supported by a false payslip purporting to show a customer had earned year to date income of $30,857.86 when in fact he had only earned $8,496.04.
An additional $20,000 in loan funds and $4,675.80 in commissions received as a result of fraudulent invoices were transferred by Farias to independent referrers or others who benefited from the supply of the false information.
The matter has been held over to May 10, 2016.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
<h2>Background</h2>
Since becoming the national regulator of consumer credit on 1 July 2010, ASIC has banned 62 individuals or companies from providing credit services or had their credit licences revoked (including 27 permanent bans and 17 cancellations or suspensions) in relation to false loans. Since July 2010, ASIC has also brought criminal prosecutions against 11 credit service providers.
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Former Sydney finance broker pleads guilty to loan fraud: ASIC

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Cymon Fontaine, a consultant for Wyndham Vacation Resorts, has been charged by the ASIC with seven charges of fraud and appeared in the Southport Magistrates Court. The Australian Securities and Investments Commission alleges that Fontaine defrauded six clients for a total of $105,910.10 and caused a loss of $4,500 to another client.
Fontaine has been charged under sections 408C(1)(d) and 408C(1)(e) of the Criminal Code 1899 (Qld). The maximum penalties under these sections is between five and 12 years imprisonment.
Between 28 June 2011 and 1 July 2013, Fontaine was an authorised representative and Corporate Upgrades Consultant for Wyndham Vacation Resorts South Pacific Limited (Wyndham), a financial services company selling time share interests in resorts and hotels.
Between April 2013 and October 2013, Fontaine exploited the credibility and contacts gained from his position as a Corporate Upgrades Consultant to contact existing clients. He then offered to assist them with upgrades and the purchase of second hand credits at a cheaper rate than what was being offered by Wyndham.
Fontaine used these funds for his own purposes, never purchasing the agreed second-hand credits for the clients. Upon learning of his behaviour, Wyndham terminated Fontaine's employment on 1 July, 2013. However, Fontaine continued to defraud some clients after his employment was terminated.
"This kind of dishonesty is not tolerated by ASIC or the community," ASIC deputy chair Peter Kell said.
This matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
<h2>Background</h2>
Wyndham is a developer and marketer of flexible, points-based holiday ownership products. Clients buy into different levels of memberships with Wyndham by buying "points" or "credits" from Wyndham. Depending on a client's level of membership (determined by the number of credits the client has) they are allowed different levels of privileges and benefits, including using their credits to stay at Wyndham's resorts and hotels or partner resorts or hotels.
The matter was before the court on March 21 and is again listed for mention in Southport's Magistrates Court on April 18, 2016. Fontaine applied for and was granted bail on his own undertaking.
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Wyndham Vacation Resorts consultant charged by ASIC with defrauding clients

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A retail arcade in the NSW town of Kempsey is set to go under the hammer for circa $1 million at a Burgess Rawson portfolio auction on April 5 in Sydney.
Located at <a href="https://www.burgessrawson.com.au/buying/NSW/Mid-North-Coast/Kempsey/Retail/2P1165#.VvCb8mR96u5" target="_blank">14 Smith Street</a>, Centrepoint Arcade comprises 12 ground floor retail tenancies and a first floor gym.
<div>The 2,873 sqm property in the CBD area is surrounded by IGA, Aldi, Coles &amp; Woolworths supermarkets.</div>
<div> </div>
<div>The shopping centre has a diverse mix of tenants, including a jeweller, takeaway food, cafe and Williams Shoes, and earns an estimated $69,267 pa + GST.</div>
<div> </div>
<div>There is also the potential for further development subject to council approval.</div>
<div> </div>
<div>With a Gross Regional Product of $12.16 billion, Kempsey LGA forms part of the Mid North Coast region which boasts a population of 259,000 and is expected to grow to 277,450 by 2021.</div>
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Retail arcade in NSW's Kempsey to go under the hammer at Burgess Rawson auction 

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Sydney ranked seventh on an index of world class cities, while the cost of accommodating an employee in Australian capital cities compares very favourably with key Asian neighbours, according to real estate firm Savills' latest Live/Work Index.
The index, which measures the combined cost of residential and office rental per person per year, puts Sydney’s costs at less than half that of Hong Kong, well below Tokyo and Singapore and about 13 per cent above Shanghai. The Emerald City’s costs were also half that of London and New York.
While the data did not look at Melbourne, Brisbane and other Australian capitals, given Sydney’s relatively higher cost of living, that their costs would also be well under some of our most important Asian neighbours, said Savills’ national head of Research, Tony Crabb.
Sydney also ranked seventh behind London, New York, Hong Kong, Paris, Tokyo and Singapore on a world class city scorecard which includes a combination of established world cities and their dynamic up and coming rivals.
<a href="/images/2016/03/22/Screen%20Shot%202016-03-22%20at%2010.25.40%20AM.png" target="_blank">Click here to enlarge.</a>
<img src="/images/2016/03/22/Screen%20Shot%202016-03-22%20at%2010.25.40%20AM.png" alt="" width="613" height="420">
 
The average total cost of accommodation per worker, per year in the 20 cities measured $76,300. Rio de Janeiro had the lowest cost at $22,147 and London the highest at $151,399, closely followed by New York and Hong Kong, the index showed.
San Francisco saw the greatest price rise over 2015, up by 13 per cent, compared with a 9 per cent fall in Moscow and Rio de Janeiro, and is top of the table in A.T. Kearney’s Ranking for Global City ‘Future Potential’.
The productivity of cities and their value to global businesses clearly has a pronounced effect on demand and hence rental costs, according to head of Savills World Research Yolande Barnes.
"The highest ranking global cities, London and New York, are also the most expensive for businesses and workers to occupy. Arguably both are achieving a fair price in relation to their composite world city scores, but Hong Kong looks more fully valued," Barnes said.
"However, world cities can become a victim of their own success when rents rise to the point where affordability becomes an issue.’’ 
She said the test for the top Alpha cities was to supply new business quarters and residential neighbourhoods whilst retaining the characteristics that made the city attractive in the first place.
"Growth without social, economic or environmental loss is perhaps one of the biggest challenges facing our world cities today.
"While some of the larger and most prominent world class cities struggle to replicate their most successful city fabric in new places, other cities are emerging into the global spotlight.’’ 
Global real estate recovery had not been universal but rather concentrated in the cities favoured by occupants and investors in the growing digital and creative economies, she added.
"This means some relatively small cities, such as Berlin (population 4.3 million) and Dublin (1.7 million) are fast moving into the realm of world class city status and competing with the giants in a new digital age, while San Francisco’s place in the top 10 now looks secure.’’
The report found real estate growth had shifted back from east to west. From 2005 to 2011 new world cities of the BRIC countries (Brazil, Russia, India and China) - Shanghai, Mumbai and Moscow as well as Hong Kong and Singapore - significantly outperformed London, New York, Paris, Tokyo and Sydney.
However, in the years to 2015 this trend has reversed: as economic growth and wealth creation has slowed in the new world, economic revival has driven real estate recovery in Europe and, most especially, in the USA.
"Increasing the supply of high quality workspace will be crucial for emerging cities such as Rio de Janeiro, Mumbai and Lagos but this stock might not have to be international-style office blocks if a more local low or mid-tech solution is more appropriate.
"The vast majority of workspaces across the globe in both emerged and emerging economies remain small-scale, informal and local buildings rather than international architectural-style, plate glass fronted offices.
"The choice between a fine-grain city of mixed-use neighbourhoods and grand masterplans of big blocks faces virtually every world city today and will make a huge difference to the way of life of citizens in their houses as well as work places,’’ Barnes said.
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Sydney at no. 7 among top cities to live/work: Savills research 

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By 2019, all Australian companies reporting under the International Financial Reporting Standards (IFRS) will be required to comply with new global rules on leasing following the release in January of a guide Lease Accounting Standard by the International Accounting Standards Board (IASB).
The Australian Accounting Standards Board (AASB) announced on March 1 it was adopting the new standard.
The new legislation will change the way leases are reported on company balance sheets and will be implemented in 2019. But listed companies will be required to start comparative reporting in 2017 which means decisions need to be taken about future assets and leases
A new paper by property services firm JLL says the impact would is potentially huge for Corporate Australia real estate occupiers. Leases will become a key feature on company balance sheets, effectively inflating assets and liabilities.
It is advising Australian corporates to start analysing the day one impact of their leased property portfolio on their financial statements.
“The new standard will meet the need for greater transparency of companies’ lease assets and liabilities, which are currently off balance sheet. However, it will be a significant administrative burden for companies to adhere to it. In particular retailers, leisure operators, banks and other companies that rely heavily on real estate leasing, will have dramatically increased financial reporting obligations,” says Sylvia Koh, head of Corporate Consulting, Asia Pacific at JLL.
Key considerations for businesses include:
* Review current real estate portfolios and lease arrangements
* Re-assess the merits of owning assets outright versus lease arrangements
* Re-evaluate lease tenure and structuring of lease (for example short-term versus long-term, rent review type and end of lease mechanisms)
“Given there will no longer be an off-balance sheet advantage of leasing, the question many companies will need to consider is – own or lease?” said Tony Wyllie, JLL’s Australian head of Corporate Solutions Integrated Portfolio Services.
“Items requiring inclusion on company balance sheets from 2019 onwards include rent payments and fixed rental uplifts.
“For companies that draw heavily on lease arrangements, we are encouraging them to start preparing now for the changes, because as early as 2017 they must start preparing comparative financial statements under the new standards to meet with annual reporting requirements.
“If the goal of companies is to minimize the impact of leases on balance sheets, then they will need to carefully assess the options of owning, future lease structures and the key commercial aspects of leases such as – lease terms, rent terms and options,” said Wyllie.
Added Koh, “Going forward we’re likely to see changes in terms of how real estate deals are structured; more companies will explore flexible options such as serviced offices and co-working spaces; and there may be increased interest in considering owning versus leasing real estate.”
She said while the changes would be gradual, companies need to act swiftly. 
“If you currently don’t have your lease data in a structured fashion that is of auditable quality, it will be important to get the right advice and resources to put it in order as the immediate first step towards complying with the new standard.”
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Property 101: Leases to become key feature on company balance sheets

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GUEST OBSERVER
It’s reporting season, and over the past few weeks some of Australia’s biggest companies have been releasing information on how they’re travelling. These reports reflect key themes of how things are going in key sectors of the economy. Over coming days we’re going to report on the results a handful of major companies in key sectors, transport, construction, retail, mining, insurance and banking. Today we look at the construction sector.
A sluggish building climate in Australia, influenced by a slowdown in mining construction, is leading the biggest companies in the construction sector to trim costs, pursue smaller projects and divest in larger non-performing ones.
Building and construction represents an important part of the Australian economy directly accounting for approximately 8-12 percent of total economic activity. Of that activity, approximately half is accounted for by construction and half by building, which is split approximately two thirds residential and one third industrial.
Three companies in the ASX top 100, WorleyParsons, CIMIC (formerly known as Leighton Holdings), and Lendlease have construction services which extend internationally and serve to highlight those parts of the sector that are faring better than others.
 
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/115397/width754/image-20160317-30231-acywyn.png" alt=""><a class="license" href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
 
WorleyParsons consults on engineering, procurement and construction, CIMIC undertakes engineering consulting and construction but is also active in mining. Finally, Lendlease has a higher exposure to residential construction relative to mining and resources. Despite the companies' similar arenas of operation, these three companies have fared very differently in the current climate.
WorleyParsons, with a focus on building services (that is, supporting companies in the construction industry rather than having major building programs itself), is sailing into strong headwinds and making pretty tough going of it, while some of the difficult groundwork already in place at CIMIC seems to be paying dividends, literally. Finally, Lendlease has benefited from some major residential construction projects to boost both revenue and earnings.
<h2>Threats to the construction sector</h2>
The high exposure of the construction industry to business and government demands means that it is particularly vulnerable. That is, it is highly exposed to economic cycles in sectors important to the Australian economy, particularly the mining sector.
The slowdown in mining construction resulting from China’s recent moderating growth rates has hit the industry hard. Australian raw material exports have been an important part of building the infrastructure to support economic growth in China and the construction industry has benefited immensely from building the infrastructure base to enable those exports. Economic signals from China have made investors more wary of commissioning new projects and expanding of existing ones.
Moreover, industry consultant, BIS Shrapnel, believes the “bust” in mining has a long way to run. This means that companies in the industry will have to rein in their expenses and pursue new business to ensure that the high fixed costs of equipment necessary for building and construction do not form a drag on the bottom line. The resultant competition leads to customers being able to force suppliers to cut their profit margin cuts, at the same time that many big projects are drying up.
The more fragmented, but much larger residential market is faring somewhat better, with a record number of new home approvals in 2015. Chronic under-supply is being somewhat alleviated by more residential blocks being released by State governments and demand has remained robust.
<h2>How the biggest companies are faring</h2>
Lendlease, a major player in both the residential and industrial markets, was able to more than offset lower earnings in infrastructure and construction <a href="">this half year</a> relative to last, by a more than doubling of its earnings from property development. Not only did this performance lead to a 12 percent increase in earnings for the company, it was also accompanied by a 15 percent increase in the work Lendlease has in the pipeline, suggesting an underlying strength of future earnings.
That, however, is cold comfort to WorleyParsons and CIMIC, watching from the adjacent industrial construction sector.
Despite WorleyParsons' size, it is still experiencing the second order effects of a wind down in mining. Long term, this has meant the company’s share price has fallen 93 percent in the past ten years. Short term, it has fallen 67 percent in 2015.
The management team at WorleyParsons has followed many of the recommended prescriptions associated with their predicament. It has worked on the cost structure. It has pursued smaller projects to utilise the company’s assets and maintain the bottom line and it has sought diversification, both geographically and by industry. For example, the firm recently won a contract with BAPCo, the Bahrain petroleum company, to extend and reconfigure its refinery.
However, though these initiatives have helped with revenue rising 140 percent in the past ten years, the end result has been the company is not making ground on the tsunami of red ink that’s pursuing companies in the industries in which it operates. Revenue has shown a pleasing and reasonably consistent upward trend, but earnings per share (on a reasonably stable capital base) have taken a nosedive from as high as A$1.50 to below 80 cents.
WorleyParsons' half-year results show the company was able to eke out a net profit after tax of A$23.1 million on revenues of A$4.2 billion. Management promised more of the right kind of medicine: reducing debtors, lowering overhead costs, divesting non-core and low performing assets, and searching for attractive growth opportunities.
On the other hand, CIMIC does appear to be making ground. It has long been a leading industrial construction company in Australia, with considerable overseas earnings. The company must be very pleased to leave the excitement of the bribery and corruption charges that dogged it in its last days as Leighton Holdings.
Hiccups during the takeover of Leightons by Hochtief, when the latter pleaded guilty to insider trading charges, similarly added to the rocky road over which the company has travelled to get to the relative calm it is enjoying at the moment. It may be making less news than it did in the stormy days of erstwhile CEO, Wal King, but the (reasonably) new Spanish management team is quietly notching up wins.
Its full-year profit of A$520 million and revenues of A$16.2 billion were at the top end of the market’s expectations and obviously look a look a lot healthier that those of WorleyParsons. The need for scale in the building industry makes it prone to mergers and acquisitions, while the high level of risk associated with major projects, means that often non-performing assets have to be split off.
While CIMIC is involved in a scrappy takeover battle with Sedgman and the Gorgon jetty project dispute with Chevron, these distractions go with the turf in this industry.
CIMIC, like WorleyParsons, is also taking all of the right steps in terms of operational efficiency, asset balancing, and growth opportunity generation. Moreover, it is doing it from a stronger base and thus with more impressive results.
CIMIC seems to be riding the cyclical waves of the industry reasonably comfortably and enjoying some moderate success in doing do. That is as well since the macroeconomic trends of a China slowdown and an associated slowing industrial building climate in Australia is unlikely to give it a promising tail wind any time soon. On the other hand, WorleyParsons has yet to witness any benefit to it bottom line resulting from its efforts to trim its sails to the new industrial climate.
Meanwhile, Lendlease has managed to insulate itself from chilly infrastructure winds by boosting its selective engagement in the buoyant parts of the residential housing market.
 
John Heath Roberts is professor, Australian Graduate School of Management, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-heath-roberts-188102" target="_blank">here</a>.
 
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Construction outlook: mining construction slowdown ripples across industry

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A clearance rate of 75 percent was recorded by the REIV this weekend compared to 69 percent last weekend and 76 percent this weekend last year.
There were 1476 auctions reported to the REIV, with 1113 selling and 363 being passed in, 157 of those on a vendor bid.
Melbourne’s south-eastern suburbs are dominating the auction market this weekend with more than 400 auctions scheduled. 
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Melbourne's 75 percent success rate: REIV

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Rising auction bidder numbers are underpinning the stronger clearance rates we've witnessed this year in most regions across Sydney. 
This emerging trend, if maintained, will soon lead to higher than expected price growth.
The average number of registered bidders sat at four at February auctions, according to the comprehensive data kept by auctioneer Damien Cooley at Cooley Auctions.
It was up on the three during December, but still below the five in February last year.
Sydney's 2016 weekend clearance rates have mostly sat above 70 percent, compared to the low 50s of late last year, and the 80 percent record levels this time last year.
The big test comes today with the traditional pre-Easter Super Saturday bumper auction offerings.
But what has been noticeable in recent weeks have been the anecdotal reports from auctions showing higher bidders numbers.
An original condition 1940s Curl Curl fibro cottage sold at $1.933 million with 11 registered bidders, young families versus owner builders.
After the strong $1.7 million opening bid for 40 Bennett Street, there were five active bidders for the property last sold for £3,500 in 1953.
It was downsizers who completed at Cremorne Point for a three-bedroom triplex garden apartment that fetched $4,065,000. The recent McGrath auction saw 10 parties raise their bidding cards after the $3.1 million opening bid. There had been a $3 million to $3.3 million auction price guide.
A strong auction result at 7 Doris Avenue, Earlwood came after 25 registered bidders turned up at its recent auction. Just four took part before it was knocked down at $1,340,000 to locals who plan to renovate. Auctioneers Rocky Bartolotto, from Auction Services, took a $950,000 opening bid on the three bedroom brick home sitting on a 417 sqm block size.
Not all regions are experiencing the same trend, according to CoreLogic RP Data, highlighting the right method of sale is a extremely important decision. 
Sydney’s strongest performing sub-regions currently stand at Ryde, with 86 percent selling, the Eastern Suburbs at 84 percent and the Inner West at 78.6 per cent. The three weakest regions have been Blacktown, Parramatta and the Hawkesbury for auctions.
But the momentum in some suburbs will catch some agents are giving ridicously low price guidance to buyers. Right at the time when NSW Fair Trading is holding a rigorous underquoting audit with inspectors currently looking at published advertisements and the estimated selling prices contained within agency agreements.  
More importantly they are also reviewing and considering the comparative sale price evidence utilised in developing their estimated selling price.
This means agents must be wise to all the recent sale prices in their patch. 
The early 2016 market rebound has meant underquoting has returned as an issue as in the first seven weeks since the laws were introduced, Fair Trading received 68 complaints. 
"Complaints are from named individuals, anonymous complainants and other real estate agents," a department spokesperson said.
This article was first published in the Saturday Daily Telegraph.
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