<p>A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.</p>

<p>The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.</p>

<p>Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.</p>

<p>Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.</p>

<p><img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" /></p>

<p>Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.</p>

<p>Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.</p>

<p>Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.</p>

<p>The appeal of Rainbow Bay has extended well beyond the surfing community.</p>

<p>International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".</p>

<p>The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.</p>

<p>Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.</p>

<h2>Boutique project draws owner-occupiers</h2>

<p>Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.</p>

<p>The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.</p>

<p>Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.</p>

<p>The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.</p>

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

<p>S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.</p>

<p>After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.</p>

<p>Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.</p>

<p>He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a></em></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>“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.<br />
<br />
“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.”</p>

<p>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.</p>

<p>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.</p>

<p>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;</p>

<p>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;</p>

<p>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.</p>

<p>"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;</p>

<p>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;</p>


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

<p>Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.</p>

<p>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.</p>

<p>Online shopping has become one of the clearest examples of that change.</p>

<p>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.</p>

<p>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.</p>

<p>That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.</p>

<p><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></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.</p>

<p>It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.</p>


Apartment design is adapting to the way Australians shop

<p>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.</p>

<p>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.</p>

<p>SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.</p>

<p>"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=367129]</p>

<p>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.</p>

<p>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.</p>

<p>Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6393]</p>

<p>Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.</p>

<p>"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.</p>

<p>"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."</p>

<p>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.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6402]</p>

<p>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.</p>

<p>Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.</p>

<p>"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.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6383]</p>

<p>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.</p>

<p>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.</p>

<p>The Walden is currently under construction and is scheduled for completion in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>&nbsp;</p>

<p>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.</p>

<p>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.</p>

<p>Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.</p>

<p>"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."</p>

<p>"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."</p>

<p><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" /></p>

<p>DKO said the design had been shaped by the site's landscape setting and surrounding open space.</p>

<p>"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."</p>

<p>"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."</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

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<p><span>Darwin’s industrial property market has been relatively steady throughout 2015, according to the Herron Todd White latest report.</span></p>
<p><span>There has been much speculation locally about the imminent Inpex cliff project.</span></p>
<p><span>The construction phase of this project is expected to be completed in 2017 and will therefore no longer compete for all types of resources in Darwin, including property.</span></p>
<p><span>"Our expectation in the industrial property sector at least is that demand for industrial accommodation should continue at current levels.</span></p>
<p><span>"The commencement of the production phase for Inpex will see demand shift from construction to maintenance which will still require significant accommodation."</span></p>
<p><span>Peak periods will also be experienced at shutdowns and if future trains of either Inpex or the Conoco Philips plant are commissioned.</span></p>
<p><span>Local property is as well placed as it has ever been to supply the necessary land for the required developments.</span></p>
<p><span>There is a choice of a number of industrial estates and we note that work is commencing on the new Truck Central site at the corner of Tiger Brennan Drive and Tivendale Road.</span></p>
<p><span>This will include blocks of land available for development associated with the transport industry.</span></p>
<p><span>While there were few landmark sales in 2015, the industrial property market in Darwin moved along steadily through the year.</span></p>
<p><span>"It would be fair to say that it fared better than most other market segments in Darwin and still retains a positive outlook," the report noted. </span></p>
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jrobinson-rf4aSBido9

Inpex underpins Darwin industrial property: Herron Todd White

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<p><span style="font-size: 12.16px; line-height: 1.3em;">An office, showroom and warehouse in Melbourne's Fairfield has sold under the hammer for </span><span style="font-size: 12.16px; line-height: 1.3em;">$2.030 million to a local </span><span style="font-size: 12.16px; line-height: 1.3em;">investor.</span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">The <span>40-42 Montefiore Street property fetched </span>$430,000 </span><span style="font-size: 12.16px; line-height: 1.3em;">more than the reserve price of $1.6 million, according to selling agents <span>Dean Alexander and David Bourke of <span>Fitzroys.</span></span></span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">The property is on an area of 1,827 square metres, </span><span style="font-size: 12.16px; line-height: 1.3em;">with a </span><span style="font-size: 12.16px; line-height: 1.3em;">building covering 1,675 square metres, </span><span style="font-size: 12.16px; line-height: 1.3em;">including a two-level office/showroom and high clearance warehouse.</span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"><span>It has a 40-metre street frontage </span><span>and on-site parking.</span></span></p>
<p>The Industrial 3-zoned property was sold with a three-year lease term from July 2014 to <span style="font-size: 12.16px; line-height: 1.3em;">wheelchair manufacturer Mobility Plus, returning $136,485 per annum plus outgoings.</span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">“The strong result demonstrates the strength of the market, particularly regarding well-located </span><span style="font-size: 12.16px; line-height: 1.3em;">and well-leased properties,” said Alexander.</span></p>
<p>The property is close to <span style="font-size: 12.16px; line-height: 1.3em;">the Eastern Freeway.</span></p>
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j.ballantyne1990-6AQqhLzZaK

Industrial property in Melbourne's Fairfield sells for $2.03 million

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<p><span>Construction has started on a $14 million Gold Coast building that holds promise for a tech hub and is expected to be operation in October 2016. </span></p>
<p><span>Located at 120-122 Siganto Drive at Helensvale, the three-level, 4,491 square metre building will be home to AMMA Private Equity.</span></p>
<p><span>The building will also house the head offices of AMMA’s key investments: Guvera, Sportkix, Tapp Commerce and App Investments.</span></p>
<p><span>It also aims to serve as an incubator for tech start-ups by providing serviced office space.</span></p>
<p><span>“The tech hub has a very funky tech look and feel – both inside and out. It will provide our team with state-of-the-art technology that will allow them to work on delivering the next generation of mobile innovations,” said AMMA Private Equity Global CEO Paul Jansz.</span></p>
<p><span>"Helping to get the creative juices going will be the building’s roof-top bar and entertaining area, golf simulator and indoor cricket pitch.</span></p>
<p><span>“It will be the ideal space for creatives, technologists, designers and developers to generate new ideas, experiment and bring innovations to market.”</span></p>
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AMMA invests in Gold Coast tech hub 

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<p><span>The former Fairfield fire station, located at 3 William St, will go under the hammer on December 12 expecting to draw strong attention from developers.</span></p>
<p><span>The 955 square metre site is zoned for mixed use, providing a great opportunity for mixed-use retail, commercial, education and/or residential developments in the future.</span></p>
<p><span>“We had strong interest in the Cabramatta fire station that sold earlier this year, and we’re expecting a similar response in Fairfield,” said selling agent Harry Bui of Colliers International.</span></p>
<p><span>Fire &amp; Rescue NSW recently relocated to their new premises at 198 Fairfield Road, Yennora, making the William Street asset redundant for them.</span></p>
<p><span> Bui also sold the Cabramatta fire station in May this year. The property fetched $2.1 million and was bought by Asian investor, the Lu Group.  </span></p>
<p><span> “Fairfield is well-located in Sydney’s west, and the site at 3 William Street is in a central position and provides the buyer with a host of opportunities,” added Bui.</span></p>
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Sydney's Fairfield fire station comes to market

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<p><span>Vicinity Centres has announced its acquisition of two Perth metropolitan shopping centres, The Shops at Ellenbrook (Ellenbrook) and Livingston Marketplace, for a total of $319 million including costs.</span></p>
<p><span>They were bought from the Insurance Commission of Western Australia (ICWA) in a deal expected to be completed by early 2016.</span></p>
<p><span>“Both centres are in trade areas characterised by strong population and retail expenditure growth over the medium to long term, and have high specialty sales productivity and low occupancy costs," said Angus McNaughton, CEO and Managing Director of Vicinity Centres.</span></p>
<p><span>“Both assets also have development potential which will strengthen their positioning in their catchments over time. This is particularly the case at The Shops at Ellenbrook which includes 6.5 hectares of adjoining land acquired as part of the transaction.”</span></p>
<p><span>The purchases are being funded through debt, increasing the group’s gearing by about 150 basis points, within Vicinity’s target gearing range of 25%-35%.</span></p>
<p><span>Ellenbrook is a sub-regional shopping centre with a gross lettable area (GLA) of 32,400 square metres, about 30 kilometres from Perth’s CBD.</span></p>
<p><span>It is the main retail centre in a catchment forecast to experience a population growth of 4.7% and retail spending growth of 7.3% on an annualised basis over the next 10 years.</span></p>
<p><span>Ellenbrook is anchored by Woolworths and Coles supermarkets and a Big W discount department store (DDS). The centre has 75 specialty stores generating sales of $8,500 per square metre (psm) and have below-market specialty occupancy costs of 10.7%.</span></p>
<p><span>With a total site area of over 19 hectares, there is scope to add a second DDS and more specialty stores. </span></p>
<p><span>Livingston Marketplace is a sub-regional shopping centre with a GLA of 15,500 square metres located in the southern Perth suburb of Canning Vale, 15 kilometres from the Perth CBD.</span></p>
<p><span>It sits in a catchment forecast to experience 2.6% population growth and 5.5% retail spending growth on an annualised basis over the next 10 years.</span></p>
<p><span>The centre has a Woolworths supermarket, a Big W DDS, and 36 specialty stores which generate specialty sales of $9,900 psm and have below market specialty occupancy costs of 9.7%.</span></p>
<p><span>Ellenbrook has been purchased for $220 million ($231.6 million inclusive of acquisition costs), which includes $20 million for the additional land surrounding the asset. The centre has been acquired on a cap rate of 5.75%.</span></p>
<p><span>Livingston Marketplace was bought for $83 million ($87.4 million inclusive of acquisition costs) on a cap rate of 6%.</span></p>
<p><span>Due to the rental growth potential, internal rates of return in excess of 9% for both centres are expected to be achieved.</span></p>
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Vicinity Centres buys two Perth shopping centres for $319 million

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<p>GUEST OBSERVER</p>
<p>Last week Victoria announced a new plan to manage bushfire risk by conducting prescribed burns.</p>
<p>Previously, Victoria had adopted a plan to burn 5% of the state’s area each year to manage bushfire risk. The 5% target has been criticised by scientists for damaging the environment without necessarily reducing risk. But, following a review, the state is shifting to a new “risk-based” strategy.</p>
<p>So, how does the new strategy work and what can we learn from it?</p>
<h2>Targets: a blunt instrument</h2>
<p>Immediately following the devastating Black Saturday bushfires there were many questions about whether the government could have done more to either prevent such an event or at least reduce the impact of the fires.</p>
<p>A Royal Commission considered a range of submissions from government, the public and scientific committees. Following careful consideration of the information, the commission handed down 67 recommendations. Recommendation 56 was to adopt a long-term program of prescribed burning with a rolling average of 5% per year on public land.</p>
<p>A range of research has since been conducted examining the role of prescribed burning in reducing the risk to people and property as well as the impact on biodiversity.</p>
<p>The key message is that a hectare target is not the most cost efficient way of reducing risk to people and property, and that such an approach can have negative impacts on biodiversity.</p>
<p>Therefore, an alternate approach is needed to achieve the two objectives in the Code of Practice for Bushfire on Public Land: <span style="line-height: 1.3em;">To minimise the impact of major bushfires on human life, communities, essential and community infrastructure, industries, the economy and the environment. Human life will be afforded priority over all other considerations. </span><span style="line-height: 1.3em;">To maintain or improve the resilience of natural ecosystems and their ability to deliver services such as biodiversity, water, carbon storage and forest products.</span></p>
<h2>The risk of bushfires</h2>
<p>The new risk-based approach means that the state government will be able to focus their efforts in strategic areas, such as places close to houses and infrastructure, or areas where due to landforms there is a high chance of fires starting or spreading quickly.</p>
<p>Reducing fuels in these areas can result in the greatest reduction in risk from wildfires to the assets, but have a much higher risk of damage if the prescribed burn escapes such as we have seen recently at Lancefield.</p>
<p>Risk to people and property will be measured through fire behaviour simulation using the PHOENIX RapidFire program. This allows the state to compare the risk of losing houses between maximum fuel load (and maximum risk) and fuel loads after burnoffs.</p>
<p>The difference between the two is known as “residual risk” and is expressed as a percentage of the maximum risk. Victoria has set a target of 70% residual risk which means that burnoffs will remove at least 30% of the maximum risk. While there may be debate about the actual value, adopting a risk-based metric represents a more outcome focused approach to developing fire management strategies.</p>
<p>Residual risk methods currently consider only the impacts on people and property, however equivalent methods are being developed for the environment.</p>
<p>As a researcher in the field, it would be remiss of me not to say that there is great scope for improving both the underlying fire behaviour model and the methods of calculating risk. There is a big difference between developing a model in the lab and applying it to public safety. In time, new methods will be developed and Victoria will need to consider whether these represent improvements over their current system before they are adopted.</p>
<h2>Doesn’t remove risk</h2>
<p>The new plan advocates a reduction in risk, but doesn’t entirely remove it. This is simply not possible.</p>
<p>Black Saturday fires could occur again in the future under either a hectares or a risk reduction approach to fuel treatment as these fires are driven primarily by catastrophic fire weather.</p>
<p>What is important to note is that a risk reduction approach aims to reduce the impact of such fires so that we hopefully do not see the same devastating loss of life and property.</p>
<p>Fire management on private land and the preparedness of communities for wildfire will remain vital. Communities in at-risk areas need to be actively involved in fire management decision making and preparedness. Some communities may elect to live with the risk while others may actively be involved in reducing risk. Regardless of the decision, it is important that all parties understand the risk they are exposed to and take actions accordingly.</p>
<p>Overall, Victoria’s new plan is a major step forward for fire management in the state and Australia. Explicitly adopting risk as a measure of success is a brave and positive step by the Victorian government. The success of the new policy will be assessed in time, but in my opinion, it will make fire management decisions more transparent.</p>
<p>Such transparency will allow for better community involvement in the planning and application of fire management. In time, the inclusion of other asset types in the estimation of risk will complicate the process, but also allow for better assessments of the extent to which both objectives for fire management can be met.</p>
<p> </p>
<p><em><span class="fn author-name">Trent Penman is l</span><span style="line-height: 1.3em;">ecturer, Bushfire Behaviour and Management, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/trent-penman-197032" target="_blank">here</a>.</span></em></p>
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jchancellor-FAypfDUnLy

Saving homes, saving wildlife: Victoria ditches burnoff targets

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<div>Total construction work done in Australia has declined by 3.7% over the past year in seasonally adjusted terms. Let's take a look in two short parts at what this actually means.</div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Part 1 - Total construction</span></strong><br><strong><span style="text-decoration: underline;"><br></span></strong>
</div>
<div>Total construction work done in the third quarter of 2015 declined by 3.7% to $49 billion on a seasonally adjusted basis. </div>
<div> </div>
<div>Despite a lift in residential building work done (+2.0%), there was a decline in non-residential building (-1.9%), and as widely expected engineering construction fell sharply (-7.3%) to be -11.7% lower over the year.<br><br>The green shaded area which records construction work done in chain volume measures terms shows that the unwinding of the resources construction boom has a way to run yet. </div>
<div> </div>
<div>Quarterly engineering construction work done has declined from a peak of $34 billion to around $25 billion, but given the weakness in commodity prices - and given that in the same quarter a decade ago activity was just $13 billion - the decline surely has a long way to go.</div>
<div> </div>
<div><a href="/images/2015/11/26/A1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/11/26/A1.jpg" alt=""></div>
<div> </div>
<div>
<div>The decline in engineering construction this quarter was driven by an overdue reversal in Western Australia, and to a lesser extent a decline in Queensland, as mega-projects begin to wind down. </div>
<div> </div>
<div>Activity in the Northern Territory continues to track at a historically exceptionally high level of $2 billion, accounted for primarily by the massive Ichthys LNG project.</div>
<div> </div>
<div><a href="/images/2015/11/26/A2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/11/26/A2.jpg" alt=""></div>
</div>
<div> </div>
<div>
<div>While non-residential building and major renovations have contributed little of significance to the rebalancing of the economy, new house building and "other residential" building (apartments, units, townhouses) have effectively done everything that could have been expected of them in response to low interest rates.</div>
<div> </div>
<div>Total building work done of $24 billion represents a solid 6.4 per cent increase over the year, with no thanks to the non-residential sector.</div>
<div> </div>
<div><a href="/images/2015/11/26/A3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/26/A3.jpg" alt=""></div>
<div> </div>
<div>
<div>These high level numbers should present an idea of some of the challenges facing the economy given that housing starts are projected to decline from pretty much now, while the decline in engineering construction may only be half way done. </div>
<div> </div>
<div>Even now I'm still not sure anyone really has a satisfactory answer for what is going to fill this gaping hole while commodity exports ramp up. Given the expansion of Australia's population the obvious answers should come under the heading of "infrastructure" but if there's a coherent plan for that being discussed anywhere I haven't heard of it.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Part 2 - Building work by state</span></strong></div>
<div> </div>
<div>Victoria has been the king of building work through this cycle, with New South Wales following in second place, these states being home to the two capital cities with the strongest dwelling price gains.<br><br>Indeed, Melbourne is a fine illustration of why it is important for market analysts to pay close heed to both demand and supply factors when forming their views. The Victorian capital has been building both houses and units like billy-o since 2010 - the source of a thousand crash predictions - yet vacancies and stock on market are both falling, and the market seems to be gathering momentum again.</div>
<div> </div>
<div><a href="/images/2015/11/26/A4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/26/A4.jpg" alt=""></div>
<div> </div>
<div><span>While there has been a reasonable response from the house building sector since 2012, approvals data shows that this market is running out of puff for the cycle, and has probably all but peaked already.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/11/26/A5.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/26/A5.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<span>On the other hand the "other residential" sector continues to surge to record heights (this has been visible in the largest cities to anyone with a working pair of eyes...always knew those gauges were dodgy!), the new high rise building boom being the defining dynamic of this market cycle.</span><br><br><span>Building work in this sector is at historical highs in Victoria, New South Wales, Queensland, and Western Australia, with over-building of high rise apartments evident in parts of Brisbane and Melbourne.</span>
</div>
<div><span> </span></div>
<div><a href="/images/2015/11/26/A6.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/26/A6.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>If you've been following this blog for the last couple of years, you will appreciate that the systemic risks in the housing market are obviously apparent and buried within this final chart. Would-be market shorters should dig deeper here.</div>
<div> </div>
<div>There have long been indicators of overbuilding in the high rise markets of inner city Melbourne and Brisbane, with a high proportion of new build sales being made offshore, especially to China.</div>
<div> </div>
<div>The storm clouds were gathering for off-the-plan buyers well before APRA's intervention, but recent tightening measures to lending procedures could well be the factor which nails on the correction for this sector. </div>
<div> </div>
<div>How many buyers who put down trifling holding deposits will fail to settle if lenders demand a 20 per cent deposit prior to completion? Perhaps up to a third could be in trouble, and will be juggling personal finances as we speak. </div>
<div> </div>
<div>Could get messy. </div>
<div> </div>
<div>
<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
</div>
</div>
</div>
</div>
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pwargent-M4siyDbqQY

Construction trends (off-the-plan mess) Pete Wargent

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<p><span>The billionaire property developer Lang Walker is seeking to sell his $2.5 billion Collins Square project in Melbourne, likely to be the largest single property sale in Australia.</span></p>
<p><span>But Lang Walker, who sold his empire just ahead of the last peak of the market, says he is not selling at the top again</span></p>
<p><span>"I don't think it is at the top," he told the <em>Australian Financial Review</em>.</span></p>
<p><span>"Look at the yields and the 10-year bond rates. There is still a big gap and interest rates are going to stay lower for longer and there is a lot of overseas capital looking for projects in the gateway cities."</span><span style="line-height: 1.3em;"> </span></p>
<p><span>He told <em>The Australian</em> he was getting two or three offers every week from potential buyers over the past six months.</span></p>
<p><span>Investment bank UBS has the sales mandate for Collins Square, five towers at the western end of Melbourne. </span></p>
<p><span>Two of the five towers are complete and fully tenanted, with two more scheduled to be completed mid-2016 and the fifth in 2017, with more than 250,000 square metres of lettable area.</span></p>
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Lang Walker seeks Collins Square buyers at $2.5b

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<p>Leading experts and economists are unanimous in expecting the cash rate will remain on hold at 2%, according to the comparison website, <span>finder.com.au</span> monthly survey.</p>
<p><span>All 33 commentators in the <a href="https://www.finder.com.au/rba-cash-rate" target="_blank"><span>finder.com.au Reserve Bank Survey</span></a>, the biggest of its kind in Australia, believe there will be no change to the cash rate, with most of the panel citing an improving economy as the likely factor behind the RBA’s decision to keep the cash rate on hold.</span></p>
<p><span>However five of 33 are predicting a rate drop in February, the first Reserve Bank meeting of 2016 – Shane Oliver, AMP Capital; Richard Robinson, BIS Shrapnel; Paul Bloxham, HSBC; Matthew Peter QIC; and Noel Whittaker, QUT.</span></p>
<p><span>Around three in five experts surveyed (58%) are believing the cash rate will not rise for at least the next 12 months.</span></p>
<p><span>Experts were divided when it came to the future behaviour of house prices; while almost three in five experts (58 percent) are predicting property prices to rise in 2016, 29 percent believe prices will drop next year.</span></p>
<p><span>Some 38% of experts predict a decrease in demand for residential property in 2016, while 34% predict an increase in demand. Almost half of these experts (45%) are also expecting rents to rise next year, while 42% say rents will remain the same and 13% think the rental market could lose steam with rents to fall.</span></p>
<p><span>“This indicates that, regardless of demand, property prices as well as rent are expected to rise in value in 2016, which is great news for property owners but less so for those looking to break into the ever-competitive market,” Bessie Hassan at finder.com.au suggested.</span></p>
<p><span>“The message here is, it’s not expected to get any easier, which is why it’s more important than ever to make sure you do your homework when it comes to researching home loans. Jump online and compare interest rates and product offerings, and get a pre-approval to put yourself in the best position to become a property owner in 2016.”</span></p>
<p><span>What the experts had to say in the <a href="https://finder.com.au/" target="_blank"><span>finder.com.au</span></a> Monthly Reserve Bank Survey:</span></p>
<p><span>Melissa Browne, A+TA: "I don't believe there's a case to cut rates at present and certainly no reason to move them upwards."</span></p>
<p><span>Shane Oliver, AMP Capital: "Reserve Bank has continued to express comfort with current levels in view of the rebalancing of the economy. Strong October jobs data have likely reinforced this.", "While I checked "house prices may keep rising" in question 6, I expect their rate of increase to slow significantly."</span></p>
<p><span>Garry Shilson-Josling, Australian Associated Press: "There is enough evidence that the long-awaited 'rebalancing' is under way for the RBA to sit back and wait.", "The RBA will be looking closely at the employment figures (released November 12). Most likely it will conclude that the labour market really is strengthening, and that while the big rise in employment in October rise incorporated some 'catch-up' from a suspiciously weak September figure, jobs growth may be trending now around 25,000 a month, up from about 16,000 a month over the year to June and 5,000 a month over the previous 12 months."</span></p>
<p><span>Peter Munckton, Bank of Queensland: "The RBA is comfortable with the current level of interest rates"</span></p>
<p><span>Steven Pambris, Bank Of Sydney: "Will need to refrain at this point as unemployment figures are showing signs of improvement, so will need to hold."</span></p>
<p><span>Richard Robinson, BIS Shrapnel: "Strong employment data in Oct and consumer confidence in Nov means they can wait."</span></p>
<p><span>Chris Caton, BTFG: "No reason to change."</span></p>
<p><span>Michael Blythe, CBA: "Economy does not need any additional stimulus."</span></p>
<p><span>Savanth Sebastian, Commsec: "Comfortable about how the economy is evolving. Lower inflation forecasts opens the door for a further rate cut but RBA in wait and see mode."</span></p>
<p><span>Dr Andrew Wilson, <a href="https://domain.com.au/" target="_blank"><span>Domain.com.au</span></a>: "Better unemployment data, better stockmarket, waiting for US decision on interest rates."</span></p>
<p><span>Mark Brimble, Griffith University: "Bias remains to the downward movement, however insufficient support for a move at this stage. The equity markets are recovering, property remains buoyant, employment is holding... essentially it is a bit of a wait and see as the economy is delicately balanced."</span></p>
<p><span>Paul Williams, Heritage Bank: "Reserve Bank seems comfortable to adopt a wait and see approach to interest rates for the time being."</span></p>
<p><span>Shane Garrett, HIA: "Stronger employment numbers and modest inflation."</span></p>
<p><span>Paul Bloxham, HSBC: “We’re seeing rates hold at 2% [in December].”</span></p>
<p><span>Michael Witts, ING Bank: "The economy is heading in the right direction in terms of what the Reserve Bank is expecting. The recent labour force data means that the Reserve Bank will be on the sidelines for an extended period."</span></p>
<p><span>Stephen Koukoulas, Market Economics: "Earlier rate cuts and the low Aussie dollar is filtering into a pickup in economic activity. Further rate cuts are simply not needed.", "The economy is ending 2015 on a more positive note and while conditions globally are fragile, the prospects for the Australian economy to register 3% real GDP growth seem strong."</span></p>
<p><span>Peter Jones, Master Builders: "There is sufficient stimulus."</span></p>
<p><span>John Caelli, ME: "The Reserve Bank will keep the powder dry until they see very clear signs of the need to stimulate the economy. Stronger than expected employment data mean there is no compelling reason to cut rates in December."</span></p>
<p><span>Mark Crosby, Melbourne Business School: "No pressure to raise and with Fed likely to raise no reason to cut either.", "Property market pressures are likely to be localised. still strength in Sydney but weakness in Melbourne high rise."</span></p>
<p><span>Katrina Ell, Moody's Analytics: "The Reserve Bank seems comfortable on the sidelines with domestic demand gradually on the mend and the lower Australian dollar starting to do the heavy lifting getting the economy back on track."</span></p>
<p><span>Jessica Darnbrough, Mortgage Choice: "Consumer sentiment is currently sitting at it highest level since January 2014. Similarly, business conditions remain relatively robust, giving the Reserve Bank no immediate reason to change the current monetary policy setting."</span></p>
<p><span>Chris Schade, MyState Bank: "Conditions in the economy do not presently warrant a rate cut and indeed we've seen some promising signs of improvement recently. Whilst there are some risks to the downside in CY 2016, particularly in the back half, our read is the most likely scenario is that we have reached the bottom and the cash hold will remain on hold for most if not all of CY 2016."</span></p>
<p><span>Saul Eslake, independent economist : "Data released since the last meeting has further reduced the perceived need for providing further monetary policy stimulus to domestic demand."</span></p>
<p><span>Alan Oster, NAB: "Economy improving."</span></p>
<p><span>Peter Boehm, <a href="https://onthehouse.com.au/" target="_blank"><span>onthehouse.com.au</span></a>: "There does not appear to be a pressing need to drop rates further. A steady as she goes approach would appear to be the prudent way to go to close out 2015. The housing market, inflation, unemployment, the Australian dollar’s exchange rate and the economic and business outlook all seem reasonably positive and a further rate reduction would be unlikely to yield much benefit and leave the Reserve Bank very little room to move if, in the unlikely event, it was deemed necessary to reduce rates further next year."</span></p>
<p><span>Linda Phillips, Propell Ltd A JLL Company: "The Reserve Bank must be comfortable with the exchange rate around US$0.71. House price rises in Sydney are slowing, which will be regarded as welcome, but growth is accelerating in Melbourne. While the global outlook is uncertain, it is expected that the Fed will soon start increasing US rates, which will limit the capacity for the Reserve Bank to move on the downside. Some domestic indicators such as unemployment are improving, and the Reserve Bank is reporting a somewhat better outlook. While the markets would like to see rates fall 25bp to offset the mortgage price hikes by the banks last month, on the whole it is likely that the Reserve Bank will be comfortable in waiting until February before making any decision to change rates… The level of volatility in global markets, problems of debt management in developing countries, the threat of expansion of the wars against IS, and uncertainty within the Euro-zone, the latest concern being Portugal, have the potential to upset the base case outlook of a slow but steady improvement in the economy. The risk of "black swan events" is rising, and volatility is likely to remain high."</span></p>
<p><span>Jonathan Chancellor, Property Observer: "It is timely to wait and see."</span></p>
<p><span>Matthew Peter, QIC: "Having not moved in November, the Reserve Bank will sit and wait for global and domestic developments. A February rate cut is still an option if global conditions deteriorate (especially if the Fed delays lift off)."</span></p>
<p><span>Noel Whittaker, QUT: "Mixed economic indicators. With mixed signals in the economy, I think the Reserve Bank is likely to sit pat."</span></p>
<p><span>Janu Chan, St.George Bank: "The Reserve Bank is encouraged by signs that the economy will continue to improve so it sees little need at this point to lower rates any further. "Housing market is still likely to face mixed conditions across the country."</span></p>
<p><span>Scott Haslem, UBS: "We recently (briefly) flirted with the notion the Reserve Bank could ease again, largely to offset regulatory-driven out-of-cycle hikes by banks. While Reserve Bank's Stevens recently assessed those moves to be worth about half a 25bp hike, it seems given recent better domestic data, including business/consumer confidence and solid jobs trends, the Reserve Bank sees the economy as able to 'cope' with that half-a-hike."</span></p>
<p><span>Nicki Hutley, Urbis: "On balance, monetary policy is sufficiently easy to continue to stimulate growth."</span></p>
<p><span>Bill Evans, Westpac: "Commentary on the labour market remains positive. Lead indicators such as job vacancies and advertisements continue to point to a lift in employment while there has been a “noticeable increase in the participation rate”. However these offsetting factors mean that the unemployment rate will not fall “for more than a year” before declining gradually."</span></p>
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No December RBA rate cut: finder.com.au survey

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<p>An award winning architects Jackson Clements Burrows-designed home has sold in Richmond.</p>
<p>The early 2000s design maintained the traditional Victorian aesthetics and contrasted them with contemporary design.</p>
<p>The property sold for $4.32 million at auction after selling agents Andrew Macmillan and Jodie McCarthy of Jellis Craig Real Estate.</p>
<p>They had initial hopes of over $3 million. It last traded at $398,500 in 1998 when bought by the vendors whose son is the architect Jon Clements.</p>
<p>Four bidders took the weatherboard property onto the market at $3.5 million.</p>
<p>The modern four bedroom, <span>three bathroom home at <a href="https://www.realestateview.com.au/Real-Estate/38-richmond-terrace-richmond/Property-Details-sold-residential-9705048" target="_blank"><span>38 Richmond Terrace</span></a> includes a service lift, a library and a home office.</span></p>
<p><span>The living and dining areas are surrounded by landscaped outdoor gardens with ample dining areas on the 547 sqm block.</span></p>
<p><span>The property features a rooftop terrace with 360 degree views of the streetscape and the entire city skyline.</span></p>
<p><span>One of Richmond’s largest residential properties, Araluen, at 207 Lennox Street, hold the suburb record having recently sold for $5.13 million.</span></p>
<p><span>Araluen last sold in 1958 when bought by the Ballerini family. <a href="https://www.realestateview.com.au/Real-Estate/207-lennox-street-richmond/Property-Details-sold-residential-8634864" target="_blank"><span>The five bedroom 1856 home</span></a> had been listed through Abercromby's agents Jock Langley and Hugh Hardy. </span></p>
<p><span>It is one of Richmond’s earliest homes sitting on a substantial 1478 square metres on the corner of Goodwood Street, about a kilometre from the CBD.</span></p>
<p><span>Title Tattle gleans it has been bought by Scott and Julia McKay, descendants of the industrialist inventor of the Sunshine Harvester.</span></p>
<p><span>The comedic radio broadcaster Hamish Blake and wife Zoe Foster Blake, the author wife, had held the previous record $4.25 million in Richmond for a home (below) featured on <a href="https://www.propertyobserver.com.au/https://www.completehome.com.au/articles/grand-designs-australia-richmond-inner-city-house/36365" target="_blank"><span>Grand Designs Australia in 2013</span></a>. </span></p>
<p><span>The three-bedroom, four-bathroom Richmond house was designed by neilarchitecture for Darren and Ruth Rogers.</span></p>
<p><img class="js-first-image" src="https://b.domainstatic.com.au/w800-h534-8733637_1_pi_150319_100547" alt="79a rowena parade richmond VIC 3121"></p>
<p>They built the home on a block bought in 2009 for $920,000 with the works cost estimated at $3.3 million.</p>
<p> </p>
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