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 RBA today held rates at 2 percent.
The decision from the RBA came as no surprise today, considering labour markets are holding up and housing market conditions have moderated but remain firm, Tim Lawless at CoreLogic RP Data said.
"The fact that the rate of capital gains has wound down across the housing market and investor activity is reducing from the highs of mid last year are likely to be welcomed developments from the Reserve Bank.
"Based on indices data released today by CoreLogic, capital city dwelling values rose by 1.4% over the most recent three month period and by 7.6% over the past twelve months; a substantial slowdown from the strong housing market conditions that were evident over the first half of 2015."
Lawless suggests if the RBA were to provide another cash rate cut later this year, they probably wouldn’t need to worry too much about over stimulating the housing market; mortgage rates are already higher than a year ago due to the higher capital requirements implemented by APRA and the pace of investment credit growth is tracking well below the 10% speed limit imposed in December 2014. 
"With inflation tracking around the bottom of the RBA target range of two to three per cent, the Reserve Bank can work to stimulate the economy by dropping the cash rate further if they see a requirement to do so."
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jchancellor-FAypfDUnLy

No change: RBA March 2016 cash rate decision

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Banyan Tree Group are set to develop a $150 million luxury private residence development in Kangaroo Point, Brisbane.
Banyan Tree Residences Brisbane will comprise of 76 freehold private residences over 10 levels, four penthouses (three with rooftop infinity pool and private garden terrace), 27 three-bedroom apartments and 45 two-bedroom apartments.
Banyan Tree Group executive chairman Ho Kwon Ping said construction is slated to commence in the second half of 2016, with completion expected in late 2018. 
"We are excited to launch our first Banyan Tree branded residences in Brisbane," he said.
"The city was a natural choice given its 2.2 million residents and $135-billion-dollar economy. As the leader in the country’s infrastructure boom, there are strong growth projections for Brisbane as it continues to transform and evolve."
For more information, <a href="https://www.banyantreeresidences.com/brisbane/homepage" target="_blank">click here</a>.
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mick.cee-iDmgDDAmu8

Banyan Tree expands into Australia with luxury $150 million Brisbane residential project

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The Reserve Bank of Australia released its Financial Aggregates data for January 2016, which showed credit growth of +6.5 percent in the year to January 2016, a steady increase on the +6.1 percent recorded for the year to January 2015.
<a href="/images/2016/03/RBA2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/RBA2.jpg" alt="">
<div>Total annual housing credit growth has slowed a bit from its recent peak of +7.47 per cent in November 2015 to +7.33 per cent in January 2016, reflecting in part the shift in composition of lending from investors to owner-occupiers. </div>
<div> </div>
<div>Investor credit growth is now well below APRA's arbitrary +10 per cent threshold at just +7.9 per cent and consistently slowing from +11 per cent in June, meaning that theoretically major banks could in due course start to ramp up lending into this sector should they feel the urge to do so. </div>
<div> </div>
<div>Of course, any such move would be dependent upon a range of regulatory factors, and whether APRA has the appetite to loosen its throttle. Meanwhile owner-occupier annual credit growth recorded another significant jump in surging to a 64 month high of +6.95 per cent, with homebuyers looking to take advantage of attractive mortgage rates.</div>
<div> </div>
<div><a href="/images/2016/03/RBA1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/RBA1.jpg" alt=""></div>
<div> </div>
<div>Deposit growth seems to present few headaches for banks right now. While term deposits have been understandably less popular in the prevailing low interest rate environment, total deposits with banks have expanded in a robust manner over the year to January. </div>
<div> </div>
<div><a href="/images/2016/03/RBA3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/RBA3.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>Business credit</div>
<div> </div>
<div>Business credit grew by +6.2 per cent in the year to January 2016, up from +5.5 per cent in the year to January 2015. It is as yet unclear whether this is the end of the uptrend for business lending growth, or a blip in the upwards trajectory. </div>
<div> </div>
<div><a href="/images/2016/03/RBA4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/RBA4.jpg" alt=""></div>
<div> </div>
<div>
Housing credit The chart below shows how lenders in the housing market have conveniently managed to shift almost seamlessly away from investment lending to owner-occupier credit, with a bit of reclassification jiggery-pokery along the way. In fact, the data submitted by lenders makes it look as though the chart has been drawn up on an Etch-A-Sketch.
</div>
<div> </div>
<div><a href="/images/2016/03/RBA5.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/RBA5.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>Total housing credit continued to push beyond $1.53 trillion, growing at an annual pace of +7.33 per cent, although naturally there are marked differences between the states and capital cities, with some faring much better than others. There have been a few pro-equities articles today discussing "plummeting" lending and investors "leaving the market in droves". That's interesting, but it's not what I'm seeing. Don't forget that housing credit expanding at a pace of +7 per cent implies a doubling in outstanding credit over a decade. It's all in the marketing, I guess.</div>
<div> </div>
<div><a href="/images/2016/03/RBA6.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/RBA6.jpg" alt=""></div>
<div> </div>
<div>
<div>The wrap</div>
<div> </div>
<div>Credit growth was fairly steady in January, with owner-occupiers continuing to pick up the baton from investors within the housing sector.</div>
<div> </div>
<div>A key question going forward will be whether having managed to push investor credit growth below its preferred +10 per cent threshold APRA releases its grip on investor lending at all. </div>
<div> </div>
<div>As APRA's data last week showed, the overwhelming majority of property buyers these days have substantial deposits, the question is whether tougher criteria are to be maintained surrounding mortgage serviceability. </div>
<div> </div>
<div>Another key factor could be movements in the cash rate, with interest rate cuts potentially set to stimulate demand for mortgage borrowing further, although it appears likely that lenders would hold back 10bps to15bps of a prospective 25bps interest rate cut.</div>
<div> </div>
<div>Adding to the parts of GDP we already know such as net exports, the Business Indicators released by the ABS this morning including inventories (-0.4), wages (+0.5), and company profits (-2.8), each suggested that headline GDP growth for the fourth quarter of 2015 is likely to be weak. </div>
<div> </div>
<div>These GDP partials may prove to be another tack in the coffin for the next movement in interest rates being down. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
</div>
</div>
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pwargent-M4siyDbqQY

Owner-occupiers lead housing lending: Pete Wargent

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GUEST OBSERVER
The CoreLogic RP Data Home Value Index of capital city home prices rose by 0.5 percent in February after a 0.9 percent lift in January. Home prices were up by 7.6 per cent over the year to February.
Dwelling prices rose in six of the eight capital cities in February.
The Performance of Manufacturing index rose by 2 points to 53.5 in February – a near six year high. A reading above 50.0 indicates that the sector is expanding. Production, new orders and exports lifted in February
The economic data continues to surprise on a positive note. The manufacturing sector is now expanding at the fast pace in almost six years. And when it comes to home prices it is a case of modest strength – but more encouragingly price growth is more spread out and not just Sydney and Melbourne centric.
Dwelling prices rose in six of the eight capital cities. But the lift in home prices in Hobart, Adelaide and Brisbane was the icing on the cake. In fact home prices in Hobart have now lifted by 8.5 per cent in the past three months. It seems investors and home buyers are shifting away from the traditional growth markets of Sydney and
Melbourne and looking for more attractively-priced property in other cities.
It is still early days but the perfect outcome would be if the majority of regional areas recorded a lift in dwelling values. The “Rest of State” price index lifted by 0.6 per cent in February, although annual growth is still subdued at 2.2 per cent. This highlights the issues facing policymakers in attempting to manage a very diverse housing market. What we would expect to see is the lift in capital city house prices continues to filter out across the regional towns over the next 12-24 months.
The consolidation in home prices is unlikely to see home building dry up. There is a record pipeline of dwelling approvals that suggest a lot of building work will take place over the next two years - supportive of a lift in activity levels over the medium term.
The rebalancing effect across the economy continues to take place. Manufacturing activity has now expanded for eight consecutive months – marking the longest streak in ten years. More importantly the sub-indices like, production, new orders and exports, are showing a credible lift. No doubt the weaker Australian dollar will continue to support the sector. In addition low resource prices – particularly for oil - are keeping down input costs and also providing a boost to the sector.
<a href="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.50.38%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.50.38%20AM.png" alt="" width="814" height="591">
The latest data should ensure that the Reserve Bank continues to remain on the interest rate sidelines. If a rate cut was to take place it would be as a result of a downturn in the global economy rather than domestic economic conditions.
What do the figures show?
Home prices
The CoreLogic RP Data Hedonic Australian Home Value index of capital city home prices rose by 0.5 percent in February after a 0.9 per cent lift in January. Home prices were up by 7.6 per cent over the year to February.
House prices rose by 0.6 percent in February while apartment prices fell by 0.1 percent. House prices were up 7.8 percent on a year ago and apartments were up by 6.2 percent.
The average Australian capital city house price (median price based on settled sales over quarter) was $572,000 and the average unit price was $480,000.
Dwelling prices rose in six of the eight capital cities in February: Hobart (up 2.9 percent), Adelaide (up 1.9 percent, Brisbane (up 0.8 percent), Sydney (up 0.5 percent), Darwin (up 0.4 percent) and Melbourne (up 0.3 percent). Prices fell most in Perth (down 1.1 percent), followed by Canberra (down 0.2 percent).
Home prices were higher than a year ago in six of the eight capital cities. Prices rose most in Melbourne (up 11.1 percent), followed by Sydney (up 9.5 percent), Hobart (up 6.2 percent), Brisbane (up 5.5 percent), Canberra (up 4.5 percent) and Adelaide (up 2.8 percent). Prices fell in Perth (down 3.1 percent), and Darwin (down 2.9 percent).
Total returns on capital city dwellings in the year to February rose by 11.5 per cent with houses up 11.6 percent on a year earlier and units up 10.9 per cent.
 Performance of Manufacturing
The Performance of Manufacturing index rose by 2 points to 53.5 in February – its highest level since July 2010.
AIG notes “February was the eighth consecutive month in which the Australian PMI has been above 50 points (net expansion). This is the longest continuous run of expansion since 2006.”
Across the sub-indices; production (60.1 points), new orders (52.4 points), stocks (52.5 points), deliveries (53.5 points) exports (53.7 points) and sales (53.0 points) were positive in February. Employment (47.4 points), remained in contraction.
What is the importance of the economic data?
The CoreLogic RP Data Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic-RP Data Hedonic Index includes all properties. Home prices are an important driver of wealth and spending.
The Australian Industry Group and PricewaterhouseCoopers compile the  Performance of Manufacturing Index (PMI) each month. The Australian PMI is the Australian equivalent of the US ISM manufacturing gauge. The PMI is one of the timeliest economic indicators released in Australia. The PMI is useful not just in showing how the manufacturing sector is performing but in providing some sense about where it is heading. The key ‘forward looking’ components are orders and employment.
What are the implications for interest rates and investors?
Sydney and Melbourne drove the gains in home prices in 2015. But the two largest cities are likely to come back to the pack over 2016. Overall, we expect returns on home prices across Australia to lift by around 7 per cent in 2016. CommSec expects no change to rates over 2016.
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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Regional towns to get boost, as Hobart leads higher home prices: Savanth Sebastian

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GUEST OBSERVER
ABS figures show that new home building approvals faltered during the first month of 2016.
January 2016 was a rather weak month for new home building approvals, with both detached house approvals and those for multi-units falling back compared with December. 
During January 2016, new home building approvals declined by 7.5 percent. This comprised a 6.1 percent drop in detached house approvals and a reduction of some 9.1 percent in multi-unit approvals. Over the past year, approvals totalled some 231,752 which is 10.6 percent higher than the previous 12 month period and still very strong by historical standards. 
Towards the end of 2015, the residential building industry was hit by a number of unfavourable developments. The major banks increased their mortgage interest rates, credit conditions were tightened for domestic investors and the $5,000 foreign investor fee came into force. This has made it more difficult to deliver new housing supply and today’s figures seem to bear this out.
The HIA’s Housing Australia’s Future report warned last week of the major challenges in meeting Australia’s housing needs over the coming decades. It is therefore vital that policy settings and credit conditions become more focused on the consistent delivery of the required volume of new housing supply over the long term. We’re just not seeing this at the moment. 
During January 2016, total seasonally adjusted new home building approvals saw the largest increase in South Australia (+14.2 percent), followed by Western Australia (+7.2 percent) and Victoria (+2.9 percent). The volume of approvals fell in New South Wales (-22.9 percent), Queensland (-13.4 percent) and Tasmania (-11.1 percent). In trend terms, approvals saw a 9.4 percent decline in the Northern Territory and contracted by 11.4 percent in the Australian Capital Territory.
<a href="/images/2016/03/Screen%20Shot%202016-03-01%20at%2012.34.55%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/Screen%20Shot%202016-03-01%20at%2012.34.55%20PM.png" alt="" width="799" height="388">
Shane Garrett is senior economist for HIA and can be contacted <a href="https://hia.com.au/en/BusinessInfo/economicInfo/EcoGroup.aspx" target="_blank">here</a>.
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Building approvals stumble into 2016: HIA's Shane Garrett

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GUEST OBSERVER
A weaker jobs report and a pullback in surveyed business conditions suggests that local growth remains below trend.
At the same time, inflation is low, giving the RBA scope to cut further, if needed, despite its considerable reluctance to do so.
We expect the RBA to be on hold for now, but see another cut in Q2, unless the AUD sees a tangible fall before then.
The past month has delivered a modest pullback in the timely indicators of economic activity, from the much stronger numbers in late 2015. Some part of this may reflect a response to the recent financial turmoil, but it is also likely to reflect some correction for over-statement of the strength in the statistics late last year.
After reaching post-global financial crisis highs in Q3 and Q4 2015, surveyed business conditions have pulled back in December and January. Likewise, employment fell modestly in the past couple of months, following very strong growth in October and November (part of this reflects measurement issues in the official labour force survey).
Job advertisements and job vacancies have continued a modest trend higher, and consumer and business sentiment are around average. Although housing market auction clearance rates have picked up strongly in February, the daily house price numbers continue to show flat housing prices since August.
The modest pullback in the activity indicators leaves the economy growing at a solid, but still below-trend pace. We expect next week’s Q4 2015 GDP print to show growth of 2.5% y-o-y. This pace of growth is insufficient to generate a pick-up in inflation, and we continue to expect the underlying measures of inflation to drop below the bottom edge of the RBA’s target band in coming quarters. Wages numbers, published this week, show wages growth slowing to new lows, and this is expected to continue to weigh on domestic inflation.
A further fall in the AUD could help to lift inflation, but the AUD has been quite sticky at around US70-72 cents. With policy rates set to fall further in Europe and Japan in coming quarters and the market doubting whether the Federal Reserve will hike this year, the global backdrop is putting upward pressure on the AUD. 
Speculative positions have recently shifted to ‘long’ the AUD/USD for the first time in nine months.
Despite the RBA’s considerable reluctance to cut the cash rate further, we expect they may have to cut around mid-year to keep inflation on target. We expect them to remain on hold next week but expect a cut in Q2.
<a href="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.04.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.04.03%20AM.png" alt="" width="730" height="334">
Local activity indicators have pulled back a little
In recent quarters, the RBA has pointed to two key pieces of evidence that growth is lifting: surveyed business conditions and improvements in the labour market. 
Both of these sets of indicators have started to pull back in the past couple of months.
Surveyed business conditions, which had been around their post-global financial crisis highs, fell in December and January (Chart 1). The official labour force survey has also shown that employment fell modestly in December and January, following very strong growth in October and November. In this case, we see part of the pullback as reflecting measurement issues in the official jobs numbers. Our own ‘labour market index’ suggests jobs growth of around 1.5% y-o-y, rather than the official numbers which show growth of 2.5% (See Downunder Digest: Is Australia’s jobs growth really that strong?, 11 February 2016). These indicators suggest that growth remains below trend.
Wages sluggish and investment outlook weak
The key question for the RBA is whether this below-trend growth will be sufficient to keep inflation on target? We remain doubtful. Underlying inflation is currently at the bottom edge of the 2-3% target band we expect it to fall in coming quarters. Despite steady improvement in the labour market, this week’s numbers showed that wages growth has continued to slow to a new record low on the 2.2% in Q4 2015 (Chart 3). State details also reveal that even the regions with the strongest labour markets, New South Wales and Victoria, are seeing continued sluggish wages growth (Downunder Digest: Rebalancing act drives state divergence, 25 February 2016).
<a href="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.07.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.07.12%20AM.png" alt="" width="765" height="334">
 
This week’s capital expenditure survey, which contained the first estimates for financial year 2016/17, also showed that the outlook for business investment remains weak.
Unsurprisingly, mining investment is expected to fall further in 2016/17. At the same time, the capex survey showed that non-mining investment is expected to fall further in 2016/17. This partly reflects measurement issues, with the capex survey excluding a range of services industries, but also provides evidence that the investment outlook remains a challenge.
Housing market still appears to be cooling
Timely indicators of the housing market have been presenting mixed signals over recent weeks.
Auction clearance rates, which typically have a strong positive correlation with housing price growth, have jumped to quite high levels in February (Chart 5). However, this time of year is particularly difficult to assess, given the low turnover around Christmas means that sales are delayed until February. The daily housing price numbers show that housing prices have levelled out since August 2015, both nationally and in Sydney and Melbourne (Chart 6). We continue to expect the housing market to have cooled from its strong pace of activity in 2015 (see Downunder Digest: Australia’s housing market cools, 11 December 2015).
A rising AUD would be unhelpful
Besides low interest rates, the other mechanism that has been a key support for growth andinflation has been the lower AUD. This has worked through directly lifting imported goods prices  but, even more importantly, it has improved Australia’s competitiveness. The combination of  lower interest rates and the lower AUD have been the main drivers of the rebalancing of growth away from mining and towards the housing and services sectors. Tourism and education exports have been supported by the lower AUD.
<a href="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.09.53%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.09.53%20AM.png" alt="" width="806" height="374">
 
Given the housing boom that has already occurred and the RBA’s increased concerns about financial stability in 2015, the central bank has shown considerable reluctance to cut its cash rate further to boost growth. The RBA would much prefer growth to be supported by a further fall in the AUD than by lowering its cash rate again. However, although the AUD is a long way below its peak levels of 2011, it has now been broadly steady for the past seven months, so is no longer continuing to loosen financial conditions. The AUD is also sitting at a level that is higher than is implied by its previous relationship with commodity prices (Chart 7). The current level of commodity prices implies that an AUD around US60-65 cents may be closer to ideal.
With policy rates set to fall further in Europe and Japan in coming quarters and the market doubting whether the Federal Reserve will hike this year, the global backdrop is putting upward pressure on the AUD. Speculative positions have recently shifted to ‘long’ the AUD/USD for the first time in nine months (Chart 8). For more on market positioning around the AUD, see Clyde Wardle and Daragh Maher, AUD bulls take over from the bears, 19 February 2016.
Recent RBA commentary on the AUD
Despite the AUD not having fallen with commodity prices in recent months, the RBA Governor, Glenn Stevens, has been reluctant to directly ‘jawbone’ the currency lower. At his recent semiannual testimony to a parliamentary committee (12 February 2016) the Governor noted that ‘there was a period when we felt that the exchange rate was not quite doing the job we might have expected, and we said so. It then adjusted, and our language has of late been, “it’s adjusting”. I would still say that. I would also note that commodity prices are continuing to fall as we speak’.
Last week, the market responded to some comments by an RBA board member, John Edwards, to The Australian (19 February 2016). Mr Edwards said ‘I still think it [the AUD] is a bit too high’ and that he’d be more comfortable with the ‘AUD trading around US65 cents’. However, as John Edwards also said to the Australian Financial Review (23 February 2016), ‘I can’t speak for the board at all, but I myself think I’m more comfortable with a lower dollar’. We do not view Mr Edwards’ comments as the commencement of an official RBA ‘jawboning’ campaign. Keep in mind that board members do not vote at the RBA, with the decision on the cash rate reached through consensus based on a recommendation by the staff.
Nonetheless, we think the RBA will be watching the currency carefully at the moment. Without a further fall in the currency (perhaps to around US65 cents) we expect the RBA may need to cut its cash rate further. Another bout of ‘jawboning’ the currency lower by the Governor may be just around the corner.
<a href="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.12.16%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/Screen%20Shot%202016-03-01%20at%2011.12.16%20AM.png" alt="" width="599" height="211">
<a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC. 
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Expect rates to be on hold, for now: HSBC's Paul Bloxham

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CoreLogic's Home Value Index shows Sydney ranked as the weakest capital city - the only with negative growth in the three months to February.
Sydney dropped 0.2 percent over the quarter.
The next weakest city was Perth which improved by 0.2 percent over the quarter, but with a weak February.
Sydney did pick up a tad in the month of February, according to the latest CoreLogic RP Data release.
It still holds the highest median dwelling price with $730,000, ahead of Melbourne's $550,000.
Hobart was the best performing capital city with a dwelling value increase of 8.5 percent.
 
<a href="/images/2016/03/Screen%20Shot%202016-03-01%20at%2010.34.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/Screen%20Shot%202016-03-01%20at%2010.34.55%20AM.png" alt=""> 
 
 
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jrobinson-rf4aSBido9

Sydney price growth stalls to be the weakest capital city: CoreLogic RP Data

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After the record breaking sale of Darling House last week, the Government Property NSW have listed a further 12 properties in Millers Point.
Being sold on behalf of the Department of Family and Community Services, the houses include a four bedroom Victorian style terrace on Kent Street and a former boarding house on Fort Street.
The owners of the heritage listed properties have a responsibility to undertake some sort of maintenance or restoration of their newly acquired properties in accordance with the Conversation Management Plans (CMP's).
Each owner will sign a contract which will highlight their development responsibilities. 
The proceeds from the Millers Point sales are being reinvested into 1,500 new social housing dwellings across New South Wales with 100 already completed.
The biggest sale since the start of the sell off came last Thursday when Darling House secured $7.7 million, $1.7 million over its auction guide.
The sale took the total of sales to over $120 million.
The below properties are the new batch and will be marketed by McGrath Estate Agents and will be auctioned March 30. 
44 Kent Street – a four-bedroom two storey terrace in mid-Victorian style with cantilevered balcony and decorative iron balustrade (above).
53 Kent Street – a three-bedroom three storey residence, one of a pair of Georgian style terraces with added Victorian-era cantilevered balcony.
79 Kent Street – formerly three one-bedroom apartments and two studios, forming the southernmost portion of Winsbury Terrace.
83 Kent Street – a three-bedroom terrace with an Italianate style mid-Victorian front wing.
15, 21, 25 &amp; 29 Windmill Street – three-bedroom dwellings built in 1907–1908 in the Arts and Crafts style. These properties have state significance as examples of early twentieth century public housing developed by the NSW Government Architect’s Branch.
52 &amp; 54 Argyle Place – part of a row known as Undercliff Terrace, these properties were built in 1843 for whaling captain George Grimes and are one of the earliest terrace groups surviving in Sydney.
17 Lower Fort Street – a three to four bedroom terrace, formerly a boarding house, and part of the Milton Terrace.
19 Lower Fort Street - formerly four studio apartments, also part of the Milton Terrace, built in the Victorian Classical style.
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A dozen more homes set for Millers Point auction

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Land clearing has returned to Queensland in a big way. After we expressed concern that policy changes since 2012 would lead to a resurgence in clearing of native vegetation, this outcome was confirmed by government figures released late last year.
It is now clear that land clearing is accelerating in Queensland. The new data confirm that 296,000 hectares of bushland was cleared in 2013-14 – three times as much as in 2008-09 – mainly for conversion to pastures. These losses do not include the well-publicised clearing permitted by the government of nearly 900 square kilometres at two properties, Olive Vale and Strathmore, which commenced in 2015.
<div class="enlarge_hint">Alarmingly, the data show that clearing in catchments that drain onto the Great Barrier Reef increased dramatically, and constituted 35% of total clearing across Queensland in 2013-14. The loss of native vegetation cover in such regions is one of the major drivers of the deteriorating water quality in the reef’s lagoon, which threatens seagrass, coral reefs, and other marine ecosystems.</div>
The increases in land clearing are across the board. They include losses of over 100,000 hectares of old-growth habitats, as well as the destruction of “high-value regrowth” – the advanced regeneration of endangered ecosystems.
These ecosystems have already been reduced to less than 10% of their original extent, and their recovery relies on allowing this regrowth to mature.
Alarmingly, our analysis of where the recent clearing has occurred reveals that even “of concern” and “endangered” remnant ecosystems are being lost at much higher rates now than before.
While this level of vegetation loss and damage continues apace, Australia’s environmental programs will fall well short of achieving their aims.
<h2>Neutralising our environmental programs</h2>
Land clearing affects all Australians, not just Queenslanders. Australia spends hundreds of millions of dollars each year trying to redress past environmental damage from land clearing. Tens of thousands of volunteers dedicate their time, money and land to the effort.
But despite undeniable local benefits of such programs, their contribution to national environmental goals is undone, sometimes many times over, by the damage being done in Queensland.
Take the federal government’s 20 million trees program. At a cost of A$50 million, it aims to replace 20 million trees by 2020 to redress some of the damage from past land clearing.
Yet just one year of increased land clearing in Queensland has already removed many more trees than will be painstakingly planted during the entire program.
The Australian government’s Emissions Reduction Fund (ERF) is paying billions of dollars to reduce carbon emissions from industry. But the carbon released from Queensland’s land clearing in 2012-2014 alone is estimated at 63 million tonnes, far more than was purchased under the first round of the ERF (at a cost to taxpayers of A$660 million).
Species cannot recover if their habitat is being destroyed faster than it is being restored. But under Caring for our Country and Biodiversity Fund grants, the extent of tree planting to restore habitat across Australia reported since 2013 is just over 42,000 hectares - an order of magnitude less than what was cleared in Queensland alone in just two years.
And it will be many decades before these new plantings will provide anything like the environmental benefits of mature native vegetation.
Land clearing between 2012 and 2014 in Queensland is estimated to have wiped out more than 40,000 hectares of koala habitat, as well as habitat for over 200 other threatened species. Clearing, along with drought (which is also made worse by clearing), is the major cause of an 50% decline in koalas of south-west and central Queensland since 1996.
The loss of remnant habitat, especially from forests along waterways, means more habitat fragmentation. This is a further threat to many species of wildlife, and it hampers our ability to adapt to a rapidly changing climate.
The federal government has committed hundreds of millions of dollars to improve reef water quality. Yet ongoing land clearing in reef-draining catchments will reverse many of the gains these programs aim to achieve. Last year, Queensland’s Auditor-General reported that stronger legislation would be essential to reducing harmful catchment runoff to the Great Barrier Reef.
<h2>Prevention is better than cure</h2>
We live in an era of tightening carbon budgets, declining land-production capacity and rapidly deteriorating biodiversity, including in iconic places such as Great Barrier Reef. The evidence is clear that we cannot continue to degrade our environment without severe consequences.
It is far more efficient to prevent environmental damage than to try to reverse it later.
For example, the cost of stabilising river-banks following deforestation can range from A$16,000 to A$5 million per kilometre. Natural ecosystems contribute enormously to the economy in ways that are often unrecognised.
We are running up a large environmental debt that will eventually have to be paid by all Australians, one way or another.
And some damage, like the loss of a species, is irreversible.
Previous native vegetation laws had successfully reduced land clearing, but were reversed in 2013 by the former Newman government.
The current Palaszczuk government in Queensland has repeated its election promise to re-strengthen native vegetation protections. The amendment bill is due to be introduced to parliament within weeks.
But the minority government relies on the votes of cross-benchers to pass its legislation–so for now, the future of some of Australia’s most precious environmental assets remains uncertain.
Martine Maron is associate professor of Environmental Management, The University of Queensland, Bill Laurance is distinguished research professor and Australian Laureate, James Cook University, Bob Pressey is professor and Program Leader, Conservation Planning, ARC Centre of Excellence for Coral Reef Studies, James Cook University, Carla P. Catterall is professor in ecology and environment, Griffith University, Clive McAlpine is senior research Fellow in Ecology, The University of Queensland, Hugh Possingham is director ARC Centre of Excellence for Environmental Decisions, The University of Queensland, James Watson is associate professor, The University of Queensland, Jonathan Rhodes is associate Professor, The University of Queensland, Kerrie Wilson is associate professor and ARC Future Fellow, The University of Queensland, Marc Hockings is professor of Environmental Management, The University of Queensland. All are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Queensland land clearing is undermining Australia’s environmental progress

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GUEST OBSERVER
The land registries in NSW, Victoria and Queensland have developed and adopted Verification of Identity Standards (VOI Standards) for verifying the identity of parties to land transactions for the purposes of the National Electronic Conveyancing laws in Australia. 
The current VOI Standards are set out in Schedule 8 of version 3 of the Model Participation Rules (Rules) developed for the purposes of electronic conveyancing. 
To ensure consistency between paper transactions and electronic transactions, the VOI Standards for paper transactions have been introduced in Victoria.  NSW and Queensland have also introduced the VOI Standards for the verification of paper mortgages. 
Queensland
Under sections 11A and 11B of the Land Title Act 1994 (Qld) and sections 288A and 288B of the Land Act 1994 (Qld), mortgagees (lenders) are required to take reasonable steps to confirm the identity of mortgagors (borrowers). 
Revised practices for lenders confirming the identity of borrowers, to be incorporated into the Queensland Land Titles Practice Manual in the form of the VOI Standards, will take effect from 1 March 2016.  Under these practices a lender will be considered to have taken reasonable steps if they have complied with the VOI Standards.
Victoria 
The Victorian Registrar of Titles has adopted new verification of identity requirements for parties who wish to lodge dealings in paper form at Land Victoria pursuant to section 106A of the Transfer of Land Act 1958 (Vic).  
The Registrar’s requirements for all dealings, which came into effect on 9 November 2015, have adopted the VOI Standards and under these requirements a solicitor, conveyancer or lender will be deemed to have taken reasonable steps if they have complied with the VOI Standards.
New South Wales
Under section 56C of the Real Property Act 1900 (NSW) lenders are required to take reasonable steps to confirm the identity of borrowers, and regulation 16 of the Real Property Regulation 2014 (NSW) provides that from 1 January 2015 lenders are considered to have taken reasonable steps if they have complied with the VOI Standards.  
From 9 November 2015, an amended table of minimum document requirements for verification of identity took effect under the VOI Standards and now applies to verifying borrowers in NSW. 
PURPOSE OF VERIFICATION OF IDENTITY 
The purpose of carrying out a verification of identity for land transactions is to:
<ul>
<li>ensure a person is who they claim to be;</li>
<li>reduce the risk of identity fraud; and</li>
<li>prevent the registration of fraudulent land transactions. </li>
</ul>
WHEN VERIFICATION OF IDENTITY IS REQUIRED 
The Rules require solicitors, conveyancers and lenders (Verifiers) to take reasonable steps to verify the identity of:
<ul>
<li>their clients;</li>
<li>borrowers; and</li>
<li>persons to whom certificates of title are to be provided.</li>
</ul>
CARRYING OUT VERIFICATION OF IDENTITY 
When verifying the identity of a party, reasonable steps to verify their identity must be taken.  
Reasonable Steps
‘Reasonable steps’ means the taking of such steps as an ordinarily prudent Verifier would take in the circumstances and in the ordinary course of their business.  Whether reasonable steps have been taken is a question of fact depending on the circumstances of each case. 
Previous Verification of Identity
Where a verification of identity has occurred within the previous 2 years, the party’s identity is not required to be verified again provided the Verifier takes reasonable steps to ensure they are dealing with the party previously identified. 
Supporting Evidence 
In order to demonstrate reasonable steps were taken, Verifiers must retain evidence supporting a verification of identity for at least 7 years. 
Verification of Identity Overseas 
The Rules have established arrangements with the Department of Foreign Affairs and Trade for verifying the identity of people overseas.  The arrangements standardise services provided by Australian Embassies, High Commissions and Consulates to persons overseas.  
AGENTS 
A Verifier may use an agent to undertake verification of identity on the Verifier’s behalf.  The Verifier must direct the agent how to conduct the verification of identity, and this could be by using the VOI Standard or some other method that constitutes taking reasonable steps.  A Verifier must reasonably believe an agent to be reputable, competent and insured in accordance with the Rules. 
Australia Post currently provides a verification of identity service in each of NSW, Queensland and Victoria.
Tress Cox Lawyers can assist with verification of your identity.
We use InfoTrack’s ‘IDfy’ iOS app-based system for face to face VOI interviews in our offices.  We have worked with InfoTrack to fine tune the app.  We can also attend our clients’ offices to carry out VOI interviews using the app.  The relevant identity information is encrypted before it is stored.
We have also registered with Australia Post for clients who prefer to attend their local post office to carry out the VOI interview.  Certified VOI documents are forwarded to us electronically by Australia Post.
 
<div>
Martyn Tier, Lynette Reynolds and Dan Flynn, are partners forTress Cox Lawyers and can be contacted <a href="https://www.tresscox.com.au" target="_blank">here</a>.
</div>
 
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