Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of 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."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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New South Wales auction results for the week ending Sunday 18 October show a preliminary clearance rate of 67% from 1074 scheduled auctions.
<div class="reported-auctions">
<div class="num">According to data from realestate.com.au, 401 were sold at auction within NSW, 199 passed in and 401 sold prior to auction.</div>
<div class="num"> </div>
<div class="num">One standout sale in the Sydney suburb of Bexley was a five bedroom home that sold for $1,950,000. The property, <a href="https://www.realestate.com.au/property-house-nsw-bexley-120761209" target="_blank">44 Wallace St Bexley</a>, is on 647sqm.</div>
<div class="num"> </div>
<div class="num">The median price for a home in <a href="/news">Bexley is $988,000</a>, according to CoreLogic RP Data.</div>
<div class="num"> </div>
<div class="num"><a href="https://www.realestate.com.au/auction-results/nsw?rsf=edm:auction:nsw" target="_blank">Click here to see the full state breakout.</a></div>
</div>
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mick.cee-iDmgDDAmu8

NSW auction results show 67% clearance rate: Realestate.com.au

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The doomsayer economist Steve Keen - who predicted in 2008 that Sydney property prices would collapse by 40% - pocketed $540,000 when, with global financial crisis recessionary fears uppermost in his mind, he sold his Surry Hills apartment.
An optimistic estimate some seven years on of his two-bedroom Chalmers Street unit calculates its current resale price as potentially nearing $1.1 million. Close to doubling and Dr Keen has not benefited a cent.
I was reminded of the Keen prophesy and ramifications for him, and those who likewise sold or sat out, when there was a flurry of forecasts issued this week from milder economists on the immediate future of the property market.
They were forecasting not just an end - or softening - to the property boom, but rather boldly putting a figure on the size of the price fall.
The biggest mooted was a 7.5% drop over the next two years from Macquarie Research analyst James McIntyre in a report titled Aussie Macro Outlook: Population &amp; Housing - Perishable.
Any such fall would be about half the actual gain of just this year in Sydney, so the sky ain't falling in, though for those capital cities already going backwards, such pain might be more harmful. 
Ofcourse an overall national 7.5% decline means there has to be cities with a greater decline, and Sydney being the unrivalled engine room for growth for the past three years, would be presumably ripe for that under the Macquarie Research scenario. Not that there was much detail.
Brian White, the head of the Ray White group, says he hasn't been convinced by the logic of the three forecasts from Macquarie, Bank of America Merrill Lynch and Credit Suisse, but senses that they might have a self fulfulling outcome given the banks are well credentialed. 
"I don't crave for a boom," Brian White said yesterday.
Indeed few want the 15% plus annualised price growth of Sydney to continue into its fourth year, and anyway as regulatory measures currently conspire, it will not likely be sustainable. 
However as the Reserve Bank governor Glenn Stevens noted there have been crazy prices, and the record $6.055 million Chatswood sale took the last weekend's crazy prize.  
After almost a decade of dawdling, Sydney has so many varying factors that have helped keep the many property markets strong in our resurgent recent times, and not just auction silliness.
Macquarie's warning on price momentum mostly related to an oversupply of apartments and slower than expected population growth.
Yes Sydney has plenty of apartments in the pipeline, but its population growth is running at above average.
There are so many mini-markets within Sydney and NSW that even amid the so-called bubble conditions not all property are in the same rising (or falling) boat. Indeed recently a $3.6 million Paddington home sold for the same price as its 2008 sale, having overpaid it seems back then, so much still rests on the individual circumstance of how reckless the purchase price was.
It’s also way too simplistic to say the entire property market will go this way or that.
And with home loans at historic lows it is hard to envisage the market heading backwards in a hurry. Sure there will be pauses, procrastinations, problems... and plenty of mixed messages sometimes juxtaposed in the same day's reportage.
After the now London-based academic Steve Keen made the mother of all housing crash predictions, he was sometimes referred to as the world’s scariest economist. 
He lost a public bet with then Macquarie Bank economist, Rory Robertson, over the big call which resulted in Keen having to walk in 2010 from Canberra to Mt. Kosciuszko wearing a T-shirt that read: “I was hopelessly wrong on house prices”.
If people had listened and then acted on his genuine sentiment, they would have lost money from the subsequent house and sharemarket price surge.
One day he or others who make such forecasts might be right but economics assumptions are not just not mathematical or scientific desktop calculations — but need to mixed in with the social science of actual human behaviour.
So this week's forecasts will eventually look dumb or smart, but most likely forgotten as by then there'll be a whole raft of newer forecasts to take onboard.
Just be very prepared for all eventualities.
What worries me most is that since there's been no recession since the early 1990s we have a generation or so without any deep knowledge of being at the mercy of the market.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Property price forecasts don't have that doomsayer outlook, but be prepared for any eventuality

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A clearance rate of 74% was recorded this weekend across Melbourne compared to 72% last weekend and 72% this weekend last year, according to the REIV. 
There were 1101 auctions reported to the REIV, with house prices ranging from $280,000 in Cranbourne to $4.3 million in Kew.
The REIV was expecting about 1,400 auctions in 285 suburbs. The top auction location was Brighton with 19 auctions followed by Glen Iris, Kew, Noble Park, and Richmond with 16 auctions in each.
There were over 11,400 auctions held in the September quarter 2015 and 8,672 sales, a 30 per cent increase on the same quarter last year. 
TOP 5 HOUSES
1. 11 Rowland Street, Kew $4,300,000
2. 34 Hawthorn Glen, Hawthorn $3,960,000
3. 49 William Street, Brighton $3,902,500
4. 28 Sussex Street, Brighton $3,860,000
5. 126,12A,128&amp;128 Murrumbeena Road, Murrumbeena $3,730,000
 
TOP 5 BARGAIN HOUSES
1. 1/28 Dearing Avenue, Cranbourne $280,000
2. 13 Themeda Court, Meadow Heights $314,000
3. 27 Lillypilly Crescent, Kings Park $335,000
4. 24 Gerbert Street, Broadmeadows $354,500
5. 3/58 Fintonia Road, Noble Park $361,000
 
 
TOP 5 APARTMENTS
1. 2D Paxton Street, Malvern East $2,172,000
2. 63A Baird Street, Brighton East $1,800,000
3. 5A Ocean Street, Hampton $1,720,000
4. 92A David Street, Hampton $1,675,000
5. 12 Rosslyn Street, Hawthorn East $1,660,000
 
TOP 5 BARGAIN APARTMENTS
1. 7/1 Edney Court, Noble Park $180,000
2. 5/107 Hudsons Road, Spotswood $251,000
3. 7/40 Egan Street, Richmond $300,000
4. 3/965 Pascoe Vale Road, Jacana $305,000
5. 26/6 Francis Grove, Thornbury $310,000
Source <a href="/news">REIV </a>
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From Kew to Cranbourne, Melbourne still sitting comfortably in the 70s: REIV auction clearance rate

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Grunberg, a historic Richmond cottage, with a Heritage Victoria plaque since 1988, was sold after its single bid weekend auction.
No price has been revealed after being passed in at $1.7 million.
<a href="https://www.realestateview.com.au/Real-Estate/36-lesney-street-richmond/Property-Details-buy-residential-9556898" target="_blank">The 36 Lesney Street</a> country-style home, with a 120 year-old magnolia tree, was built in 1853.
It was marketed as a wonderful example of gold-rush era architecture with Jellis Craig auctioneer Andrew Macmillan saying homes like this were mostly found in Ballarat and Castlemaine. 
It last traded at $350,000 in 1989.
It takes its name from Friedrich and Caroline Grunbeerg who arrived in Australia aboard the Godeffroy in February 1849.
They were from Altona in Holstein and both aged 31. They had been married on 1 June 1844, but only after receiving special approval to do so from King Christian 8th of Denmark, who then ruled Holstein.
The King’s permission was required as Friedrich, son of Christian Johann Michael Grünberg, tailor and Elisabeth Anna Agneta (née Langbehn), was a commoner, whereas Caroline was of noble birth.
Caroline Friedericke von Schimmelmann, born 15 February 1817, was the daughter of Graf Carl von Schimmelmann and Ilsabe Catherina (née Dablestein).
The couple married in Caroline’s family home, the Castle Ahrenburg.
Friedrich Grünberg was an original landholder at Westgarthtown, or Dry Creek, as it was then known. 
To legally purchase his land, Friedrich had been naturalized as a New South Wales citizen in 1851, his occupation given as carpenter.
In 1852, Friedrich bought an acre of land at Richmond for £25/12/- (Lots 3 &amp; 4, Portion 8, Parish of Jika Jika).
The access road he created was first known as Gruenberg Street, but by the mid 1860s changed to Lesney Street. 
Friedrich died at Altona in Holstein in 1887, aged 69, during a visit to the then Prussian province.
Caroline returned to Australia and lived at 32 Lesney Street until her death in 1902 aged 85. 
Caroline’s cottages at 30 and 32 Lesney Street were left to the Ahrensburg church, but only after lifetime possession by her great-nephews Christian Frederick Grünberg and George Gottsleben Grünberg, the sons of Christian Grünberg who arrived in Australia in 1863. 
George died in 1916 but Christian lived on until 1944. Caroline’s estate was finally settled in 1953 when it was granted exemption from the Enemy Property Regulations securing £1,270 from the sale of the cottages.
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Richmond 1853 Grunberg cottage sells

<html><body>
Selling before auction is happening more across Sydney.
Botany headed the list during September
Sold before auction (September APM)
<table cellspacing="0" cellpadding="0"><tbody>
<tr>
<td class="td1" valign="middle">
 Suburb
</td>
<td class="td2" valign="middle">
Sold before
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Botany
</td>
<td class="td4" valign="middle">
66%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Bondi
</td>
<td class="td4" valign="middle">
65%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Killara
</td>
<td class="td4" valign="middle">
61%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
St Ives Chase
</td>
<td class="td4" valign="middle">
61%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Bondi Beach
</td>
<td class="td4" valign="middle">
60%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Wollstonecraft
</td>
<td class="td4" valign="middle">
57%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Neutral Bay
</td>
<td class="td4" valign="middle">
56%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Sydney
</td>
<td class="td4" valign="middle">
54%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Mona Vale
</td>
<td class="td4" valign="middle">
53%
</td>
</tr>
<tr>
<td class="td3" valign="middle">
Manly
</td>
<td class="td4" valign="middle">
53%
</td>
</tr>
</tbody></table>
With the market declining, many anxious agents are advising vendors to take the best pre-auction offer rather than risk falling flat on auction day.
The trend has turned a little away from the heat of the boom when it was long suffering would-be buyers putting in bullish offers that likely exceeded anything from rivals on auction day.
Auctioneer Rocky Bartolotto said while a few properties that featured bigger land size and development secured sensational results on the weekend, many of the day's other results had one to two registered bidders as the average bidders per property dropped to an average of just over 3 per property. 
<div>"The lower buyer numbers is attributed to higher selection of property available this Spring," he said. </div>
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Selling before auction takes off across Sydney: APM

<html><body>
Melbourne’s property market has secured yet another record, with the city’s median house price increasing to $729,500 in the three months to September 30.
REIV CEO Enzo Raimondo said the median was up 4.5% from the previous quarter. 
Mr Raimondo said continued high auction numbers in recent months had boosted house prices across the city. 
"Melbourne’s buoyant property market has experienced one of the strongest starts to the traditional spring selling season on record,” he said. “We’ve seen super Saturday auction weekends recorded throughout August and September. 
“In September alone, there were more than 4,400 auctions, and many more are scheduled in October.
The city’s middle and outer suburbs were the main growth drivers in the three months to September 30, with homes in these regions up 4.4 and 5.1% respectively.
Melbourne’s median apartment price increased in the September quarter – up 2.6% to $532,000.
Mr Raimondo said there was currently a range of commentary around market movement however while the market was cyclical, it was in an upward trend at this time.
“The market is currently on an upwards trajectory. The September quarter was extremely strong and that trend is continuing into the December quarter.” Melbourne’s property market has secured yet another record, with the city’s median house price increasing to $729,500 in the three months to September 30.
REIV CEO Enzo Raimondo said the median was up 4.5% from the previous quarter. 
Mr Raimondo said continued high auction numbers in recent months had boosted house prices across the city.
"Melbourne’s buoyant property market has experienced one of the strongest starts to the traditional spring selling season on record,” he said. “We’ve seen super Saturday auction weekends recorded throughout August and September.
“In September alone, there were more than 4,400 auctions, and many more are scheduled in October.
The city’s middle and outer suburbs were the main growth drivers in the three months to September 30, with homes in these regions up 4.4 and 5.1% respectively.
Melbourne’s median apartment price increased in the September quarter – up 2.6% to $532,000.
Mr Raimondo said there was currently a range of commentary around market movement however while the market was cyclical, it was in an upward trend at this time.
“The market is currently on an upwards trajectory. The September quarter was extremely strong and that trend is continuing into the December quarter.”
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='[null,2,"Metro Melbourne"]'>Metro Melbourne</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,729500]">$729,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.045]">4.5%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,698000]">$698,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.082]">8.2%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,532000]">$532,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.026]">2.6%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,518500]">$518,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.051]">5.1%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td data-sheets-numberformat='[null,3,"0.0%",1]'> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Inner"]'>Inner</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1236000]">$1,236,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,-0.002]">-0.2%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1239000]">$1,239,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.175]">17.5%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,560000]">$560,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.024]">2.4%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,547000]">$547,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.024]">2.4%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td data-sheets-numberformat='[null,3,"0.0%",1]'> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Middle"]'>Middle</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,861000]">$861,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.044]">4.4%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,825000]">$825,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.136]">13.6%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,586500]">$586,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.017]">1.7%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,576500]">$576,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.088]">8.8%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Outer"]'>Outer</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,550500]">$550,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.051]">5.1%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,524000]">$524,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.079]">7.9%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,415500]">$415,500</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.039]">3.9%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,400000]">$400,000</td>
<td data-sheets-numberformat='[null,3,"0.0%",1]' data-sheets-value="[null,3,null,0.052]">5.2%</td>
</tr>
</tbody></table>
 Note: All quarterly median prices are seasonally adjusted and quarterly. Annual change is based on rolling annual figures.
 The graph below depicts median house and unit prices in Melbourne over the past decade in seasonally adjusted terms.
<a href="/images/2015/10/19/Screen%20Shot%202015-10-19%20at%208.39.48%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/19/Screen%20Shot%202015-10-19%20at%208.39.48%20AM.png" alt="">
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Melbourne's house price median hits $729,500: REIV 

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GUEST OBSERVER
A pop-up tree office in London is the latest expression of a growing movement to take work out of the office into the landscape of the city.
Designed as an installation for the recent London Festival of Architecture, the tree-house coworking space is equipped with power and wi-fi and will be available to hire for several months.
The project is part of the Park Hack project led by Hackney Council. Profits from the space will be reinvested into parks and green spaces in the area.
The tree office workspace continues the appetite for the pop-up urbanism movement. The pop-ups are temporary installations and cover a broad spectrum including art, retail, food and craft. They are intended to highlight alternative perspectives, gather feedback in real time and test potential urban design improvements.
The trend to get out of the office is not new, however projects such as the treehouse workspace highlight a renewed focus on making working outdoors practical.
Since Ray Oldenburg officially coined the term “third place” in 1989, our drive to find accessible, social, technologically enabled and welcoming places to work within the urban environment continues unabated.
Despite advances in technology and evidence of the benefits of nature on our thinking and well-being, the reality of working outdoors has not been without challenges.
A groundbreaking project in New York City in 1989 was one of the first to formally experiment with ways to activate multiple urban public spaces as worksites. The project called Breakout! aimed to draw on the platforms of mobile technology and location-aware social networks to support cross-organisational and interdisciplinary collaborations. Despite the technology underpinning, a key aim of the project was to increase serendipity and face-to-face connection.
The experiment highlighted the challenges of working outdoors, with issues such as access to power in public space and unsuitable furniture limiting the outcomes. Fast forward to 2015, and an increasing number of urban planners and furniture designers are making the outdoor workspace a design priority.
The benefits of working in natural environments are the focus of a growing body of empirical research. A recent study on the use of plants in offices found a 15% increase in productivity when plants were added to lean office spaces. Employees also reported improvements in air-quality, satisfaction and concentration.
Far removed from the days of the half-dead dusty fern adorning a forgotten corner of the office, organisations are embracing the biophilia hypothesis with gusto. The Selgas-Cano office in Madrid is built nestled into the ground. Google’s proposed new biodome in Mountain View and the new Ecole Polytechnique at the Paris-Saclay University are designed to embed the office space right into nature.
However, the time when we will be able to work effectively in the actual outdoors may not to be too far off. Designers such as Jonathan Olivares and Buzzispace creating prototype outdoor working solutions that include a range of ergonomic, sheltered, powered and customisable furniture arrangements.
Libby Sander is PhD candidate, Griffith University and author for The Conversation and can be contacted <a href="https://theconversation.com/profiles/libby-sander-143232" target="_blank">here</a>.
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The growing movement to take work outdoors

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Sydney's moderating auction market lost more ground yesterday, with buyers spooked by higher interest rates and price fall predictions.
A weakened 65% clearance rate ended a turbulent weak where Westpac raised home loan rates and several economist forecast the Sydney faced price declines from early next year.
There were around 820 auctions across Sydney, according to CoreLogic RP Data, with recent results having held steady at around 70%. 
Yesterday's 65% clearance rate, the lowest since the 86% May peak, was down 11% on the same time last year, according to Australian Property Monitors. 
More bumper super Saturdays stock is scheduled over the next two weekends.
"There were lots of examples of buyers dropping off properties in the days before auction," auctioneer Damien Cooley noted.
"There is more choice now," he said, adding Cooley Auctions own clearance rate was 63%, down from 77% the prior weekend.
"The market is still good," he said.
There were also plenty of pre-sales with nervous agents recommending vendors take the best offers ahead of auction.
Melbourne results remained bouyant, according to the REIV, with a clearance rate of 74 per cent recorded this weekend compared to 72 per cent last weekend and 72 per cent this weekend last year. There were 1080 auctions reported to the REIV. 
Across Sydney, 1,074 homes were taken to auction over the week with a preliminary clearance rate of 66.6 per cent across 830 reported results, according to CoreLogic RP Data, which ranked it as the lowest clearance rate for the year and also the third week in a row where Sydney’s clearance rate has been below 70 per cent.
"The last time the clearance rate was this low was the first week of December 2014 (66.1)," CoreLogic RP Data said.
Last October 929 Sydney homes were taken to auction and the clearance rate was 72 per cent.
"This week, the performance across Sydney’s individual sub regions was varied," CoreLogic RP Data said.
Across the Outer South West region, where 21 results have been reported so far, the preliminary clearance rate was 47.6 per cent, while across the Inner West (80 per cent) and the Eastern Suburbs (76.8 per cent), the success rate of reported auctions was much higher.
McGrath Estate Agents results saw 33 % of its listings sold before auction, with an overall 65% clearance rate. 
McGrath secured the highest sale at $4.25 million in Longueville for a home listed with $3.4 million plus hopes.
The cheapest was $357,000 at Kurrajong Heights.
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Mosman was the busiest suburb for auctions followed by Ashfield, Baulkham Hills, Marrickville and Liverpool.
Shane Oliver, chief economist at AMP Capital, suggested  it a “watershed week” for property.
A terse Reserve Bank statement ended the week saying home loan lending standards had been poorer than it thought.
The RBA also noted there have been "tentative" signs of some slowing in the Sydney housing markets.
CoreLogic RP Data analyst Cameron Kusher noted the cumulative effect of tighter lending conditions, more expensive mortgage rates for investors and lower yields, as well as natural affordability constraints and higher levels of new housing supply, was dampening "some of the exuberance."  
 
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Westpac rate rise spooks Sydney buyers as auction success rate slips to mid-60s

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The moderation in the rate of growth across our combined capital cities index in September is likely to be a positive development for Australian regulators such as the Reserve Bank and APRA who have been highlighting concerns about the strong rate of value growth in Sydney and Melbourne.
Of course it is only one month and it will be interesting to see whether the slowing trend will persist, particularly as we head into the busy spring selling season. 
<a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.51.33%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.51.33%20PM.png" alt="" width="436" height="370" style="line-height: 1.3em;">
The annual expansion in investor-related housing credit has continued at a pace that is higher than APRA’s mandated 10% growth per annum however, July figures from the Reserve Bank show credit for investment housing has increased by 10.8% over the year, down from growth of 11.1% the previous month.
Furthermore, in June investor housing credit rose by 0.6% which was its slowest monthly increase since October 2013. With many banks now placing a premium on investment mortgage interest rates and also increasing serviceability limits on all mortgages we may be starting to see the first evidence of a cooling in investment housing demand.
<a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.58.44%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.58.44%20PM.png" alt="" width="414" height="161">
The cumulative effect of tighter lending conditions, more expensive mortgage rates for investors and lower yields, as well as natural affordability constraints and higher levels of new housing supply, is likely to dampen some of the exuberance we have seen across the Sydney and Melbourne housing market. Listing numbers are already showing their seasonal spring climb which will provide a timely test of the housing markets strength through spring.
<a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.13.16%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.13.16%20PM.png" alt="" width="555" height="528">
Furthermore auction clearance rates have been trending lower in both Sydney and Melbourne over the past couple of months potentially highlighting a moderation in the rate of home value growth in these cities.
<a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.00.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.00.28%20PM.png" alt="" width="620" height="436">
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.
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Potential cooling in investment housing demand: Cameron Kusher 

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GUEST OBSERVER
Markets are on alert for an unexpected near term rate cut from the RBA in response to Westpac’s decision to raise the variable mortgage rate by 20 basis points. 
Markets are asking the question as to whether the RBA will move to offset that tightening by cutting rates as early as the next Board meeting on November 3. The market probability for a cut in November has increased from 25% to 40% since the Westpac announcement. 
Below we assess the history of the Reserve Bank’s policy in relation to banks’ pricing. We conclude that based purely on history the most likely outcome is that financial conditions are likely to tighten further, although the exact degree of tightening and its timing is uncertain. 
We expect that the RBA will await this information on the effective change in financial conditions before making a decision as well as assessing any early signs of the impact of this tightening on the economic outlook. 
When this information becomes clearer we will reassess our current view, which, at this stage is for no policy change in 2015 or 2016. 
2008 
During 2008 the banks were severely impacted by the rise in funding costs as the cost of wholesale funding blew out sharply. 
In January 2008 all four majors raised mortgage rates independently of any move by the RBA. First to move was BANK 3 with 12 basis points followed by the others in a 5–7 day window with a range of 10 – 20 basis points. 
The RBA tightened by 25 basis points in both February and March with the banks raising rates by 55 – 65 basis points. 
Later in March and then again in April and July all banks raised rates independently in tranches of around 10 – 15 basis points and by 26 – 34 basis points overall. 
Over that January to July period the banks raised mortgage rates by 101 (BANK 1); 104 (BANK 2); 104 (BANK 3) and 114 (BANK 4) basis points respectively while the RBA raised the cash rate by 50 basis points. 
Observations from that period were that all banks moved closely in step and their moves were in the same direction as the RBA’s moves. Arguably because the banks were supporting the RBA’s policy of tightening there was no move by the RBA to offset any of these bank moves. 
Later in 2008 when the RBA reacted to the GFC with cuts of 25 basis points (September); 100 basis points (October); 75 basis points (November); and 100 basis points (December) the banks clawed back some of these cuts reducing the mortgage rates by 259 (BANK 1); 271 (BANK 4); 272 (BANK 2) and 287 (BANK 3). 
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2009 
In 2009 the RBA cut by 100 basis points in February which was fully passed on by the banks and 25 basis points in April, where BANK 3 who had cut more aggressively through 2008 passed on nothing and the other 3 banks only passed on 10 basis points. 
When rates started to rise, the banks once again supported the RBA’s tightening by raising rates by more than the RBA tightening. From October to December the RBA raised rates by 75 basis points and the banks tightened by 95 (BANK 2); 87 basis points (BANK 1); 85 basis points (BANK 4); and 75 basis points (BANK 3). 
2010 
In March; April and May the RBA tightened by 75 basis points and the banks raised their mortgage rates accordingly. 
With funding conditions still oppressive the banks raised rates in November by 35 (BANK 2); 39 (BANK 4); 43 (BANK 3); and 45 (BANK 1) basis points respectively in response to an RBA rate increase of 25 basis points. 
2011 
In the early stages of the easing cycle the banks passed on the full 25 basis points in RBA cuts in November and December. 
2012 
Tight funding was still pressuring the banks and in February 2012 BANK 4 raised their mortgage rates by 6 basis points to be followed three days later by BANK 3 (9); BANK 1 (10); and BANK 2 (10). 
In April BANK 4 “caught up” with a further 6 basis points increase. 
In May the RBA surprised markets by cutting the cash rate by 50 basis points. BANK 1 (40); BANK 2 (37); BANK 4 (36); and BANK 3 (32), passed on some of the cut. 
The net effect between December 2011 and June 2012 was for the mortgage rate to fall by around 25 basis points despite a 50 basis point cut by the RBA. 
Following 25 basis point cuts by the RBA in October and December the banks passed on an average of 20 basis points on each occasion. 
2013 
In 2013 the RBA continued its easing cycle with cuts in May and August with the banks cutting the mortgage rates by 25 basis points on each occasion. 
2014 
RBA and mortgage rates held steady throughout the year. 
2015 
RBA eased by 25 basis points in both February and May. Banks passed on an average of 30 basis points in February and 20 basis points in May. 
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In July one bank raised its rates on investment property loans by 0.27%; the other banks quickly followed although one restricted the move to “interest only” loans (0.29%). 
With investment property loans representing around 38% of total mortgages this lift could be equated with a 10 basis point increase in across the board in mortgage rates. 
Some Observations 
The historical evidence is that the banks have tended to move in similar, although not identical tranches. 
Most of these moves have been at the time of an RBA interest rate adjustment although there have been 2 periods – 2008 (H1) and 2012 (H1) when the banks have moved independently of an RBA move. 
Overall the banks tightened by a little over 100 basis points in 2008 ( H1) while the RBA tightened by only 50 basis points. However there was no apparent move by the RBA to offset any of that tightening. That was probably because the Reserve Bank favoured tightening policy. As late as June 2008 the Governor noted, “Inflation appears to be in the upper half of the target zone over the next year”. Arguably this could be interpreted as a tightening bias. 
The second period of banks moving out of step with the RBA was in 2012 (H1). After easing by 25 basis points in November and December with the banks passing the cut on fully we saw independent increases by the banks in February: BANK 4 (6) and three days later BANK 3 (9); BANK 2 (10) and BANK 1 (10). 
In February; March; and April the Bank had an explicit easing bias. Each statement from the Governor included, “Inflation outlook would provide scope for easier monetary policy”. Yet the board did not decide to cut rates until May when it cut by 50 basis points noting “In considering the appropriate size of adjustment to the cash rate at today’s meeting the Board judged it desirable that financial conditions be easier than those that prevailed in December”. 
The Banks duly “delivered” 40 (BANK 1); 32 (BANK 3); 36 (BANK 4); and 37 (BANK 2) in mortgage cuts. The net result over 2012 H1 was that the RBA cut by 50 basis points with mortgage rates falling by around a net 25 basis points. 
Arguably, without the banks’ independent tightening, a 25 basis point easing would have been delivered by the Bank in May given its clear easing bias. 
How do those previous periods compare with today? 
Firstly only one bank ( around 12% of total mortgages) has moved (by 20 basis points). History (2008 and 2012) would point to all the majors eventually moving but certainly not by exactly the same amount. 
Secondly, in 2008 the RBA’s bias was in the same direction as the banks’ moves so there was no action from the RBA to offset their independent moves. 
Thirdly, in 2012 the Bank had an explicit easing bias yet it waited for two meetings to respond to a tightening by the banks. Eventually it moved to not only offset the banks’ moves but provide a net easing of policy, consistent with the bias. 
This time the RBA does not have an explicit easing bias. The stance could be described as a “soft” easing bias with various officials’ statements supporting the view that if rates do move further it will be down rather than up although the central position appears to be “rates on hold”. It has been our view that the current policy settings and associated financial conditions are “about right”. 
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If there was a marked across the board increase in retail interest rates , indicating a sharp tightening in financial conditions, then the Bank may see the need to offset that move. 
It will be mindful that a cut in the overnight cash rate is likely to impact a broader spectrum of interest rates including business rates and deposit rates and the AUD. All these factors can be expected to ease financial conditions by more than the tightening represented by the rise in the mortgage rate. However, the Bank will have another degree of uncertainty associated with the degree to which the banks pass on any rate cut. These issues will be weighed by the RBA in making its policy decision. 
Were it to occur,the timing of such a decision is unclear. In 2012, despite an explicit easing bias, the Bank waited nearly three months before easing. But on that occasion it moved not only to offset the banks’ tightening but also provide a net easing consistent with the bias. Presumably, this time it would be seeking to return financial conditions to those that prevailed at the time of the October Board meeting. 
If, for instance, it opted for November when it will produce its Statement on Monetary Policy and will review its forecasts it would also have to indicate that the tightening of financial conditions prompted a downward revision to its growth forecast in 2016. 
At present the Bank is forecasting growth in 2016 of 3.0% (around 0.25 percentage points above its estimated trend growth rate).We expect that it is likely to cut its growth forecast for 2016 to 2.75% before taking into account the impact of a tightening in financial conditions. The implication might be that without an offset to these tighter financial conditions growth was at risk of falling back to a below trend 2.5% in 2016 . An offsetting easing in conditions would allow the growth forecast to be restored to 2.75% – around trend. 
Conclusion 
History has showed us that banks tend to move close in time, but in differing amounts, when operating out of cycle with the Reserve Bank. This reflects the common nature of the funding and regulatory shocks that drive such decisions. However it is by no means certain that history will necessarily repeat itself. 
History also showed us that even when the banks tightened and the Reserve Bank had an explicit easing bias it still took 3 board meetings to decide to offset the effect of the banks’ moves. 
Our position is that the case for the type of net easing we saw in 2012 is not strong but the Reserve Bank, which targets retail interest rates, may decide at some point to offset any tightening by the banks to restore retail rates to those prevailing at the time of the October Board meeting when the Bank was comfortable with financial conditions and policy settings. 
If we are to predict a near term rate cut on the basis of an unexpected tightening of financial conditions then we need to assess the full extent of that tightening and signs of its impact on the real economy. To date that information is not yet available. 
For now, we retain our call for rates to remain on hold in both 2015 and 2016. 
Bill Evans is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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