Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Joel Robinson

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.

Online shopping has become one of the clearest examples of that change.

Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.

For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<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/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe>

Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.

The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.

For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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GUEST OBSERVER
The cash rate has been left at a record low of 2 percent for a 9th month (10 months of rates at 2 per cent).
The Reserve Bank Board noted that the "expansion in the non-mining parts of the economy strengthened during 2015.
What does it all mean? 
The Reserve Bank adopted a ‘conditional easing bias’ in November. That is, the Reserve Bank indicated at the time that scope existed for lower interest rates “should that be appropriate to lend support to demand.” The Reserve Bank Board didn’t feel the need to act on that bias in December, and nor did it decide to take action at the latest meeting.
And if anything, the Reserve Bank has watered down the ‘easing bias’. It may not have become more hawkish (removed the bias or moved in favour of higher rates) but it certainly hasn’t become more dovish as some commentators expected it would.
The Reserve Bank has clearly become more upbeat on the Australian economy, highlighting lower unemployment, stronger business lending, and above-average business conditions.
However, at the same time the RBA upgraded commentary on the Australian economy, it became a touch more downbeat on the global economy. Not markedly mind you, but clearly if rates were to be cut in Australia, it would be because the global economy had deteriorated: “Recent information suggests the global economy is continuing to grow, though at a slightly lower pace than earlier expected.”
Is the Reserve Bank worried about the recent lift in the Australian dollar? Not in the least. The commentary on the Aussie was brief: “The exchange rate has continued its adjustment to the evolving economic outlook.”
On the housing market, RBA noted: “The pace of growth in dwelling prices has moderated in Melbourne and Sydney over recent months and has remained mostly subdued in other cities. “ In other words, scrub out one of the issues that was on the wall of worry in 2015 – the housing market has become more balanced.
Perspectives on interest rates
The previous rate cut was in May 2015 (25 basis points), taking the cash rate to a record low of 2.00 per cent.
There have been 10 rate cuts since November 2011.
The Reserve Bank had previously lifted rates seven times from October 2009 to November 2010 – a total of 1.75 percentage points, from 3.00 per cent to 4.75 per cent.
What are the implications?
CommSec doesn’t expect any change in the cash rate for the foreseeable future. Underlying inflation remains at the bottom of the 2-3 per cent target band but should lift over 2016 as import prices gradually lift in response to a weaker exchange rate.
If the Reserve Bank was to cut rates it would be because of global factors – certainly not domestic considerations.
With interest rates poised to stay low or potentially move even lower, investors will need to remain pro-active in embracing the best deals on online bank accounts. Borrowers also need to be on guard as fixed-term rates could move either way in coming months. While the US Federal Reserve is seeking to ‘normalise’ interest rates, lower oil prices, sharemarket volatility and uncertainty on the Chinese economy may stay the Fed’s hand.
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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jchancellor-FAypfDUnLy

The RBA February 2016 hold decision, what it means: CommSec's Craig James

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GUEST OBSERVER
Dwelling approvals posted a better than expected rebound in Dec with a surprisingly strong rise in detached house approvals aiding an expected partial recovery in units from a big fall in Nov. Total approvals rose 9.2%, well above the consensus expectations of +4%. While approvals are still down 4.3% over the 2mths, the Dec detail was positive.
In particular, private detached house approvals posted a surprisingly strong 5.4% gain (+4.5%yr). This segment is typically more stable than total approvals and for most of 2015 was drifting lower at 0.6% a month. The gain accounted for the upside surprise vs expectations in Dec.
In contrast, the ‘other housing’ segment, i.e. units, posted a solid 12.8% rebound in line with expectations following the 22% slump in Nov (approvals down 6.5%yr). The detail shows a ‘modest’ partial rebound in high rise approvals (we estimate +12% in seasonally adjusted terms vs a 33% drop in Nov) with a slight gain in ‘low-mid-rise’ approvals. Interestingly, on a combined basis, detached housing and non-high rise units are now showing a reasonable uptrend running around +4% in annualised terms.
<a href="/images/2016/02/04/Screen%20Shot%202016-02-04%20at%2011.21.39%20AM.png" target="_blank">Click to enlarge</a>
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Looking by state, the bulk of the monthly volatility was in Vic which whipped around ±35% in Nov-Dec. Approvals posted a solid 2.1% gain in NSW, pulled back 4.6% in Qld (though following a strong gain in Nov) and jumped in WA (though still down 29%yr). The state detail on detached houses showed gains in all states with a very strong 13.9% surge in Qld. The latter suggests some of the Dec gain in total detached housing could be an anomaly (Qld accounted for 2.1ppts of the 5.4%mth surge). 
The value of renovation approvals rose 3.5% in Dec to be up 11%yr, a reasonably solid uptrend in place albeit heavily concentrated in NSW where approvals recorded a big jump in Dec (+9.8%mth, +28.6%yr).
<a href="/images/2016/02/04/Screen%20Shot%202016-02-04%20at%2011.23.34%20AM.png" target="_blank">Click to enlarge</a>
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In stark contrast, the value of non res building approvals continues to bump around a weak level with unconvincing momentum. A 6.1% fall in Dec left approvals flat vs a year ago with quarterly results suggesting activity will pull back sharply once current projects start to wind down.
Looking at 2015 as a whole, the calendar year saw a record 232k dwellings approved, a 13.7% jump on 2014 and blitzing previous records (prior to 2014, the record high was 201k in 1973). For the first time ever there was virtually a 50:50 split between detached houses and unit approvals with the latter accounting for almost all of the growth in the year.
The Dec report showed a better than expected finish to the hear, also hinting at some residual momentum in non-high rise sectors holding the construction cycle up. More generally, the concentration of units and longer time required for these projects points to another significant leg higher in actual construction work before an eventual peak comes in late 2016.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Matthew_Hassan-HHWHptmrw4

2015 saw a record 232,000 dwellings approved: Westpac's Matthew Hassan

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Hoppers Crossing vendors notched up over 95 percent auctions success in the 2015 December quarter, according to a CoreLogic list of the busiest 188 auction suburbs.
Houses in the urban fringe suburb south west of Melbourne's CBD have a median of $360,000 and units around $278,000.
CoreLogic RP Data noted while Melbourne's auction clearance rate over the December quarter was 67 percent there were pockets of the Melbourne market where clearance rate performance sits much stronger than the broader market.
For instance the inner south suburbs came in with the highest clearance rate at over 71 percent, followed by the outer east at just over 70 percent.
Despite each sub-region clearing over 60 percent each of them showed a fall in clearance rates from the previous quarter. 
The research will be handy when deciding just how to list your Melbourne home this year, ie by auction or private treaty.
It would be wise to ask your prospective listing agents not only how their agency went late last year but contrast their results against the overall suburban trend. 
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Melbourne's best and worst auction suburbs

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Darwin was the clear underperformer across all capital cities in Australia, according to the latest Office Market Report by the Property Council of Australia, with the vacancy rate nearly doubling over last year.
This was the result of an economic convergence of increasing supply and lower demand. The city reported the highest supply rate increase in Australia at the same time as it was experiencing the lowest demand growth, says the PCA.
The vacancy rate rose to 20.7 per cent from 10.9 per cent last year.
“Darwin city has recorded the highest supply rate increase and the lowest demand growth in the nation,” said PCA Northern Territory director Ruth Palmer said.
“A significant amount of supply has been brought onto the market over the last 24 months. This has occurred despite demand weakening during the same period.”
The report shows that negative demand was concentrated in the lower grades. 
“Darwin’s vacancy rate has jumped 9.8 per cent and this was largely due to -18,727sqm of net absorption and 16,286sqm of supply additions. 
All grades of space recorded vacancies of about 15 per cent. 
“In order for us to see a long-term improvement in the office market, we need further investment in the City Centre, in particular the implementation of the Darwin City Centre Master Plan projects,” added Palmer. 
“Furthermore, it's critical that we receive a commitment from the Northern Territory Government to increase employment levels in the City Centre. 
“Not only do we need to increase employment levels and investment in the city, we need to encourage further residential development to allow for additional population growth in our City Centre. 
<a href="/images/2016/02/04/Screen%20Shot%202016-02-04%20at%2010.41.43%20AM.png" target="_blank">Click to enlarge</a>
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prateek24-ezbwHMbNAk

Darwin office vacancy rate doubles: PCA

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National office vacancy in Australia remained largely flat, says the latest Property Council of Australia Office Market Report but it belies the changes to the economy as the mining investment boom ends and significant new office space comes online.
The rise in vacancy was 10.5 percent from 10.4 percent, but demand was seen increasing for the fourth consecutive period.
“The almost static national rate makes it look like it is all smooth sailing across the lake. This hides what is happening below the surface,” said Property Council chief executive Ken Morrison, pointing to the major differences between the cities and regional areas. 
“The economy is in transition; Sydney and Melbourne are reclaiming their historic claims as the economic engine-rooms of the economy; and in most cities, we are witnessing strong increases in demand. This demand is being sufficiently met by significant additions to office supply.”
He said the demand for offices in Sydney and Melbourne is strong, which is good news for Australia as the mining investment boom ends. 
Sydney CBD and Melbourne CBD showed the lowest vacancy rates with 6.3 per cent and 7.7 per cent respectively, closely followed by Hobart (8.1 per cent). The two top cities are also the best performing markets by net absorption.
“But the story is not even. Office vacancies in Brisbane, Perth, Canberra, Adelaide and Darwin are more than double that of Sydney,” Morrison said. 
The report also shows that Sydney, Brisbane and Adelaide will all have above average increases in new office stock over the next year.
Other highlights include: 
• Vacancy rates falling in 13 of the 17 Non-CBD markets tracked
• Vacancy rates increasing in Adelaide CBD (14.1 per cent up from 13.5 per cent), Perth CBD (19.2 per cent up from 16.6 per cent) and Darwin CBD (20.7 per cent up from 10.9 per cent)
<ul>
<li>An additional 394,243 sqm in office space was added over the last six months – 25 per cent higher than the historic average </li>
</ul>
 “The latest figures from the Property Council of Australia highlight the two-tier nature of Australia’s office markets nationally as a new year swings into action,” commented Simon Hunt, managing director- office leasing at Colliers International.
“In 2016, tenant appetite for Australian office space will continue to diverge between the high demand cities of Sydney and Melbourne and the country’s remaining major cities.”
The non-CBD markets were holding up well too with 13 out of 17 reporting falls in vacancy rates and 11 out of 17 markets reporting lower vacancy rates than the Australia wide non-CBD rate.
Perth saw the first positive net absorption (42,387sqm) after three years of negative demand. This helped to offset the large spike of an additional 113,463 sqm of new office stock that was added to the market over the past six months. 
Sydney continues to have the lowest vacancies and strongest demand of all cities. As well, it has a strong pipeline of new stock with 243,126 sqm expected in 2016. 
The fall in Hobart’s vacancy rate is occurring at the same time as major regulatory changes are taking place. These include the passage of the Tasmanian Planning Scheme and proposed changes to the Building Act amendments. 
Brisbane’s vacancy rate remained steady. The city is expecting an additional 192,281sqm in office space to come online during 2016. Brisbane is facing near record levels of new supply over the next year, which will continue to put pressure on this market. 
Melbourne’s vacancy rate fell to 7.7 per cent – second only to Sydney – off the back of strong demand. With 71,768sqm of new supply to come on board over the next year and none forecast for 2017, this market can be expected to remain tight. 
Adelaide continues to suffer from negative demand with CBD vacancies reaching as high as 20.6 per cent for D grade property. 
Canberra’s vacancy rate fell from 15.3 per cent to 14.9 per cent. While the improvement is welcome, the city continues to have one of the highest vacancy rates in the nation. The prevalence of older buildings throughout the city has seen vacancy rates hit 30 per cent for D grade properties. 
Darwin reported the worst result in the nation with vacancies increasing from 10.9 per cent to 20.7 per cent. This was the result of an economic convergence of increasing supply and lower demand. The city reported the highest supply rate increase in Australia at the same time as it was experiencing the lowest demand growth.
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Modest rise in national office vacancy, but demand soars in Sydney, Melbourne: PCA report

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Non-residential and residential building approvals fell over the last six months in NSW, says the Urban Taskforce citing Australian Bureau of Statistics data.
“In a worrying sign that the property market is slowing down the latest ABS approval numbers continue a fall from June 2015,” said Urban Taskforce CEO Chris Johnson. 
In the high density apartment market, approvals in December 2015 dropped to 3,060 from a high of 3,338 approvals in June 2015 on trend numbers. 
This could be a settling down to more normal production or point to less confidence in the market through a tightening of bank loans, said Johnson.
“While the state’s performance is well above the 10-year average the continual slow down means the government must be careful with any changes that affect the industry. We are concerned that statements about value capture levies along with a less focussed local government sector due to amalgamations could lead to further drops in production,” he said.
“Even at the June high point NSW was not producing sufficient housing for the increased population particularly when many approvals do not proceed to housing production.” 
According to the NSW Department of Infrastructure and Regional Development website, land value capture or uplift involves governments levying a proportion of the increase in the unimproved capital value of private land due to public sector transport infrastructure investments. 
The various forms of value capture range from property taxes, parking levies and voluntary planning agreements.
The non-residential building approvals — measured by value — have also slowed over the last six months with NSW now behind Victoria and Queensland despite these states being smaller. 
Non-residential building approvals in Victoria were $833,198,000 in December 2015 compared to Queensland at $692,603,000 and NSW at $691,569,000.” 
“While the NSW economy is generally in good shape the role of building production needs to be carefully supported to ensure it remains robust,” said Johnson.
He suggested that the Greater Sydney Commission take a more proactive role with approvals of major projects during the transition process to ensure housing supply continues at a strong level.
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NSW building approvals slowing down: Urban Taskforce 

We sell our homes for all kinds of reasons, but what nearly every vendor has in common is passing on the sale of their biggest asset to a virtual stranger - the real estate agent.

Selling Houses Australia presenter Andrew Winter shares his expert advice to ensure you pick the right one for the job!&nbsp;

Big billboards, brands and flashy adds are all well and good but if you don&rsquo;t have a good rapport with your agent it could all be for nothing.

It&rsquo;s a good idea to spend a bit of time making sure you have picked the right one &ndash; think of it as a job interview for the right agent and right brand.

[smartcode_project:default project_id=3565]

There are a number of key factors to finding the right one for you:&nbsp;

- Does the real estate agent you&rsquo;re considering seem genuinely keen to sell your home or do they have bigger fish to fry?&nbsp;

- The number one agent in your area may be good but number two may be more hungry.&nbsp;

- Fish around online to see what kind of properties different agents in your area sell.&nbsp;Some agencies&nbsp;specialise&nbsp;in certain styles and price brackets.&nbsp;

It&rsquo;s false economy to hire someone with experience selling period homes if yours is the only new build.

[smartcode_project:default project_id=5328 project_image_fid=155345]

So you&rsquo;ve checked out the internet, interviewed a number of agents and made your selection, now it&rsquo;s time to sign on the dotted line.

- Make sure your agreement contains an estimate of total fees, charges and expenses.&nbsp;

- Understand their fee structure and pin them down to a sales figure they expect to achieve.

- If the offers are falling short of the mark and the agent is encouraging you to take lower offers this could be time to re-negotiate the fee.

- There commission is a big chunk of money and if you are getting less than you expected so should they!

- Don&rsquo;t feel intimidated by your agent &ndash; this is meant to be a partnership after all.

- If you really are unhappy go to the agency principle and express your thoughts.

- Don&rsquo;t be too concerned about rocking the boat there are always another agents.

You wouldn&rsquo;t buy a house without seeing it or doing your research &ndash; the same applies for selling. Get it right and you could be in the money.

[smartcode_project:default project_id=5559]

po-LsXgBTHBmX

Property 101: Andrew Winter on selecting the right estate agent

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For many months, there’s been an active debate between Melbourne’s apartment owners, tenants and builders about the need to regulate a minimum size for our apartments. One-bed apartments in Sydney must be at least 50m2, however more than three-quarters of new one-bed apartments being built in Victoria are equal or smaller than this.

So do we need new legislation to protect our state from a legacy of un-liveable dog boxes, or could we actually be better off with no minimum size regulation at all?

Planning Minister Richard Wynne released a <a href="http://www.buildingpermits.com.au/images/pdf/better-apartments.pdf">discussion paper</a> on inner city Apartments in May and has just finished a four month period of consultation. This means Victorian apartments could soon have new regulations on access to daylight, ventilation, accessibility, noise, and most notably, floor size.

While it’s too early to predict what will change, I think it would be a mistake to follow Sydney and set a new minimum size to increase the floor area of all apartments. Here’s why.

Housing in Melbourne is becoming increasingly unaffordable, particularly for the many new migrants and students who live in the CBD. With every additional square metre, the cost to build increases, and the property becomes out of reach for an extra group of people.

The average construction cost per square metre is about $3,100 for apartments in Melbourne. At the higher end of the scale, The Property Council of Australia has estimated that adding just 5sqm to the average one-bed apartment would increase costs by up to $45,000.

Instead of locking low-income people out of the market all together, our new standards should encourage innovative design to make smaller spaces more liveable. This means clever storage, larger windows, multi-purpose rooms and convertible fittings, such as fold-out beds for example.

Of course, ‘liveable’ is a completely subjective term too. A 40sqm CBD apartment might be totally unlivable for a couple who want to entertain guests or work from home.

However, a single student may find the same space perfectly adequate, particularly if they do most of their work, socialising and eating out of home as many CBD dwellers do.

It’s also important to remember the power of the market in protecting a minimum standard of living.

Apartments that are too small or too poorly designed for any lifestyle will struggle to sell or lease. Banks have also set their own lending limits for micro-apartments in recent years out of fear that the owner won’t be able to resell.

Whatever legislative changes are made, we have to recognise that Melburnians don’t all live the same lifestyle. The way that many of us live has changed dramatically in recent decades, and our lifestyles will become more diverse as demographics change and costs increase.

You could think of this as the loss of a gold standard, or a force that drives us to develop better ways of living. For example, I predict we’ll see more low-income people living in boarding home style accommodation in the coming years.

This co-habitation could reverse the worrying trend of social isolation, particularly in our major cities. By prioritising design and innovation over an arbitrary standard, our future homes can enable us to lead happier, more financially independent lives, but only if we have the right perspective.

Jim Tsaganas is a Melbourne based Building Surveyor with more than 20 years of surveying experience. He is currently the Managing Director of building permits provider <a href="http://www.buildingpermits.com.au/">Nicholson Wright</a>, which he founded in 1996.
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jimtsaganas

Why we shouldn’t have a minimum size for Melbourne apartments

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Canberra’s commercial property sector is expected to attract an increasing level of offshore attention from investors in 2016.
<div>According to Knight Frank’s Associate Director, Institutional Sales, Canberra, Nic Purdue, there are numerous signs that point to a stronger market and more diversified attention on the capital city this year.</div>
<div> </div>
<div>“Recent positive economic signs in Canberra are expected to help underlying market fundamentals," he said.</div>
<div> </div>
<div>"This includes a far more stable vacancy rate, stable incentives and forecast rental growth – all signs that the Canberra commercial market has reached the lowest end of its cycle.” </div>
<div> </div>
<div>Nic said that investors from Asia are looking increasingly towards the Canberra market due to its secure, long-term government tenants. </div>
<div> </div>
<div>“The current wave of Asian capital is looking to diversify away from Australia’s core markets and into higher-yielding regions, such as Canberra.</div>
<div> </div>
<div>“With some volatility in global markets, Canberra is increasingly being considered as a safe haven within the context of the wider Australian market place.</div>
<div> </div>
<div>"Australia remains attractive for offshore investors who are drawn by the low Australian dollar, cost-effective borrowing and government stability and should the global volatility continue there will be a case for the RBA to keep rates on hold, adding to the attractiveness of Canberra as a market."</div>
<div> </div>
<div>“We are already receiving increased interest from Asian countries including Korea, Singapore and Malaysia.</div>
<div> </div>
<div>"In December 2015 Korea’s FG Asset Management purchased the Louisa Lawson Building for approx. $225 million and we anticipate that this significant transaction will lead to more interest from these groups in 2016.” </div>
<div> </div>
<div>Mr Purdue said that Canberra hasn’t yet seen the influx of Chinese investors in the commercial market, although the residential market has seen plenty of interest. </div>
<div> </div>
<div>“Canberra’s commercial sector hasn’t yet seen the levels of demand from Chinese investors that other capital cities have seen, but that could also change.” </div>
<div> </div>
<div>According to Nic, hotel buyers from Asia are seriously considering Canberra at the moment and actively seeking opportunities.</div>
<div> </div>
<div>“In addition to interest in the commercial office sector, we have recently received several enquiries for hotels in Canberra on behalf of Asian hotel groups," he said.</div>
<div> </div>
<div>"We expect this interest to continue.”</div>
<div> </div>
<div>A final factor that may have a positive impact on the flow of Asian investment into Canberra, according to Nic, is the potential upcoming announcement by Singapore Airlines that they may look at initiating direct flights between Canberra and Asia. </div>
<div> </div>
<div>“As reported in the media over the past week, if Singapore Airlines does create a direct flight route between Canberra and Asia, this will continue to build the case as an investment destination for Asian investors,” he concluded.</div>
</div>
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jrobinson-rf4aSBido9

Asian investors size up Canberra office market

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The Australian Bureau of Statistics (ABS) released building approvals data for December 2015 which have been analysed here by CoreLogic RP Data research analyst Cameron Kusher.
The results tend to be somewhat volatile on a month-to-month basis, largely due to the more ‘lumpy’ unit approvals. 
Following a -12.4% monthly fall in dwelling approvals in November, approvals rose by 9.2% to 18,868 approvals in December 2015.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.47.54%20pm.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.47.54%20pm.png" alt="" width="515" height="163">
The 18,868 dwelling approvals in December 2015 consisted of 9,968 house approvals and 8,899 unit approvals. 
Both house and unit approvals recorded a large jump in December, up 5.7% and 13.5% respectively. 
Year-on-year, house approvals are 3.4% higher while unit approvals are -8.3% lower resulting in a -2.5% fall in total dwelling approvals. 
Despite the year-on-year fall in approvals they remain at close to record high levels although they are -8.7% lower than their recent record high recorded in June 2015.
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Looking specifically at the types of units being approved over the 2015 calendar year, 27.0% were townhouses, a record-low 8.7% were low-rise units (less than four storeys) and 64.3% were high-rise units (four storeys or higher). 
The above chart highlights the rising prevalence of high-rise approvals over the past few years, largely at the expense of townhouses. 
Of course this is reflective of the large volume of in-fill development taking place, particularly in inner-city areas. 
From a developer’s perspective the returns are much higher building to high-densities than there are constructing medium density properties such as townhouses. 
More recently the chart shows that there has been a slight easing of high-rise unit approvals however, developers are still overwhelmingly seeking more high-rise approvals than approvals for low-rise or townhouses.
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The above two charts show the six month average number of house approvals across each of the capital cities. 
The charts show that in most cities the number of house approvals have recently started to trend lower. 
In particular this downwards trend is now most prevalent in Perth, Darwin and Canberra. 
Despite the recent downwards trend in approvals, they remain well above average levels in Sydney and Perth, are at about average levels in Melbourne, Adelaide and Hobart and Darwin and are well below average in Brisbane and Canberra.
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.46%20pm.png" alt="" width="477" height="175"></a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" target="_blank">Click here to enlarge</a>
<a href="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" target="_blank"><img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%201.49.51%20pm.png" alt="" width="472" height="176"></a>
 
Unit approvals have also generally started to trend lower over recent months however, the notable exception is Sydney where they are still increasing. 
Despite the recent slowdown of unit approvals they have been at record highs in Sydney, Melbourne and Brisbane and remain at extremely high levels. 
The challenge now will be to see how many of these recent approvals end up constructed. 
With sales volumes slowing, offshore demand reportedly slowing, investor activity reducing, value growth slowing and concerns of an oversupply in certain areas it will be interesting to see how many of these projects go ahead.
We anticipate that despite the month-to-month volatility in the data, building approvals will most likely trend lower through 2016. 
This will be driven in large by the market due to an expectation of slowing value growth and sales volumes. 
Furthermore, many are concerned about oversupply in certain markets and developers may find it harder to achieve their pre-commitment targets, particularly for units. 
The recent slowdown in investment lending will also impact units more than houses with the last Census showing that units are more than twice as likely to be rented as houses are. 
The fact that rental yields have pushed to record lows and rents are unchanged over the year is also likely to act as a further deterrent for buyers of new off-the-plan property.
While the trend in dwelling approvals appears to have peaked, there are still a large number of projects that are either under construction are due to start construction, which implies building activity probably has some way to go before we see a similar easing trend that is visible with approvals.
 
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