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.

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<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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The Domain 2015 School Zones Report Card found Brisbane property prices within the school catchment zone for New Farm State School and Wavell State High School are experiencing the highest median house price growth year on year.
Property within the catchment areas for Kuraby State School and Runcorn State High School had the lowest median house price increase of all Brisbane government school catchment areas.
Primary
<a href="/images/2015/07/16/bris_primary.jpg" target="_blank">Click to enlarge</a>
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High school
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<img src="/images/2015/07/16/brisbane_high.jpg" alt="" width="810" height="356">
Click <a href="/news/school-zones-capture-more-family-property-buying-interest-but-be-sure-when-paying-the-premium">here</a> to see the national list
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jonathanchancellor-7SQnKwU6yx

Brisbane's school report card on catchment price growth

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GUEST OBSERVER
Federal Treasurer Joe Hockey’s call for a proper debate on state taxes and the state governments’ over-reliance on inefficient state taxes including stamp duty is welcome and completely in line with community attitudes. The Treasurer’s speech comes just days after polling revealed widespread public acceptance of future GST changes.
Joe Hockey has said what everyone knows – stamp duty is a harmful, distortive tax which needs to be abolished and this will require broader tax reform to be achieved.
Abolishing stamp duty and replacing it with a more efficient revenue base would address housing affordability, boost the economy, be supported by the community, and bolster fragile state budgets.
Obviously the removal of stamp duty needs to occur in conjunction with a broader series of tax changes so that states and territories have the revenue they need to deliver services, and it is essential that GST reform is on the table.
A report from Newgate Research Community attitudes towards tax reform, commissioned by the Property Council, found that nine out of ten Australians surveyed supported tax reform which made the system simpler and fairer.
Far from being political poison, people see the GST as our fairest tax.
Our research shows that a reformed GST would pass the fairness test set by our political leaders.
Some 65% of respondents believed the GST to be fair or very fair, and only 35% as unfair, with most citing its benefit as a tax that cannot be dodged.
While there was some variation, this fairness rating was the majority view regardless of the respondent's gender, age, state, voting intention or property tenure.
The research also shows that people think it is inevitable that the GST will go up. When asked what they believed would happen over the next decade, almost three quarters (72%) said the GST will increase.
Strikingly, only 2% believed it would definitely not go up and just 6% that it would probably not go up. For the public, this is almost a done deal.
Getting rid of stamp duty needs to be a top priority of every government in the country. It has the highest costs to economic growth and living standards.
Treasury’s own modelling shows that Australia’s economic welfare is reduced by 73 cents for every dollar of stamp duty raised, which is 50% worse than company tax and three and a half times worse than income tax or the GST.
The Treasurer’s call today coincides with a release of the Grattan Institute’s Property Taxes working paper which moots the introduction of a new property tax on owner occupied housing.
We welcome the Grattan’s Institute acknowledgement that stamp duty needs to be abolished, but the idea of introducing yet another new property tax without retiring existing inefficient taxes is unfair and will unacceptable to the community.
The Grattan report conveniently leaves out stamp duty in its attempts to argue that property is undertaxed in Australia.
The industry currently pays $77 billion of taxes to all three levels of government. Treasury estimates that property specific taxes make up 9% of Australia's total tax take compared to an OECD average of just 5%. We're surprised Grattan would get this so wrong.
Furthermore the Grattan Institute report admits that they would need an extra new property tax at double the rate they proposed to fund the replacement of stamp duty.
The Property Council is happy to explore the option of a broad based low rate land tax, but the reality is that it won’t raise enough money to abolish stamp duty, it will be politically unpopular and it doesn’t do anything to fix the high land taxes on commercial and investment property.
There is absolutely no justification for a new property tax that does not offset other punitive taxes.
Changes to the GST is a practical solution to enable stamp duties to be retired to boost the economy in a way that is fair.
Ken Morrison is chief executive of Property Council of Australia. He can be contacted <a href="https://www.propertyoz.com.au/Profiles/ProfileDetail.aspx?pid=76" target="_blank">here</a>. 
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po-LsXgBTHBmX

Hockey’s call for proper debate on state taxes welcome

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The Reserve Bank of Australia has called on the federal government to review the capital gains tax break for investment property suggesting it was directing too much money into residential housing.
The call came in its submission to the federal parliament's latest home ownership inquiry.
While the Reserve Bank acknowledged in its housing inquiry submission that negative gearing can assist in keeping rents down, it noted how it worked with other tax rules "may have the effect of encouraging leveraged investment in property."
"The bank believes there is a case for reviewing negative gearing, but not in isolation," the bank said.
"It's interaction with other aspects of the tax system should be taken into account."
The RBA's suggestions follows David Murray, head of the Abbott government's financial system inquiry, seeking a review of capital gains tax and negative gearing.
The head of the government's audit commission, businessman Tony Shepherd also recently recommended lifting the capital gains tax rate to a person's own income tax rate.
"I can't see any reason to treat capital gains any different from income gains," he said last month.
"And I think it does in fact probably lead to a greater emphasis in some respects on negative gearing." 
The RBA noted the proportion of the housing stock owned by investors looks to have risen over recent decades, offsetting the decline in the prevalence of public housing.
" The investor share is also likely to have risen a little further over the past few years, as investors have accounted for an increasing share of property purchases since 2012. 
"Data on the proportion of residential property transactions that involve investors as purchasers or sellers are not readily available, but loan approvals data give some guide as to the prevalence of investors as purchasers. 
"Investors’ share of loan approvals has risen from a little over 30 per cent in 2011 to almost 40 per cent recently, with the increase most pronounced in New South Wales. 
"As noted in 2014, prudent limits on loan sizes are less binding for property investors that have significant equity to deploy than for some other purchasers. 
"Typically the interest rate used to calculate allowable loan sizes does not fall as much as actual interest rates, or only up to a point; this practice has been strengthened recently in light of recent guidance issued by APRA (2014). 
"This means the marginal borrower has less scope to increase their loan size as interest rates fall. This practice is in the long-term interest of borrowers, as it helps ensure they can still service the loan once interest rates rise again. 
"However, it does mean that borrowers for whom these constraints are not binding appear to have a relative advantage during periods of low interest rates, since they can increase their loan size and make larger offers for specific properties. 
"In the Australian environment, the most constrained borrower is usually a first home buyer and the less constrained borrowers are investors or trade-up buyers with considerable equity. 
"As such, this might help to explain the low share of first home buyers in recent new lending for housing. 
"Reductions in state government incentives for first home buyers (of established housing) could also have contributed to this outcome. 
"It also implies that the increase in investor demand is likely to have contributed to the recent strong growth in housing prices, particularly in Sydney," the bank noted.
The submission can be downloaded <a href="https://www.rba.gov.au/publications/submissions/inquiry-into-home-ownership/index" target="_blank">here</a>.
 
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RBA joins call for negative gearing - capital gains tax review

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As was widely anticipated, the Reserve Bank left the cash rate unchanged at 2% at this month’s meeting on July 7. But is that the lowest rates can go, or can we expect another cut on the cards?
Global instabilities may have just paved the way for another rate cut in the near future, according to Australia’s biggest Reserve Bank Survey. It’s also predicted that interest rates are to begin rising.l soon after a possible drop. What’s a potential home buyer to do? One option is consider splitting your home loan. 
Split loans allow you to lock in a portion of the loan at a fixed rate, meaning part of your repayments will not change during that period. This can be helpful against a turbulent cash rate; the property market may be uncertain, but there’s no reason for your mortgage to be.
finder.com.au’s lowest variable rate home loans that allow split options:
<ul>
<li>
Homestar Finance Basic Refinance: 3.94%
</li>
</ul>
This home loan has some parameters that make it more skewed towards those looking to refinance, namely needing to have a 30 percent deposit and limiting your loan amount to $500,000. If you happen to fit into these parameters (whether refinancing or not), this loan comes with no application fee and no worry about LMI – the beauty of a low LVR.
<ul>
<li>
loans.com.au Dream Essentials: 4.02%
</li>
</ul>
With a loan amount ceiling of $750,000, you may not be buying a mansion with this product but you will be opening up a loan that is portable, allows splits as well as extra repayments and redraws. It’s also worth noting the $220 valuation and $300 settlement fees as considerable start-up costs when looking to budget your initial repayments.
<ul>
<li>
BOQ Discount: 4.04%
</li>
</ul>
If you can swallow a $395 annual service fee and have a 20 percent deposit saved up, you’ll be able to access this offering from Bank of Queensland and have a low rate home loan that allows for a 100% offset account and allows redraws and additional repayments. This loan entails some handy features for those who have proven they can save a deposit, and will manage a sizeable annual expense into their budget.
finder.com.au’s lowest 3 year fixed rate home loans that allow split options:
<ul>
<li>
Newcastle Permanent: 3.99%
</li>
</ul>
<ul>
<li>
Homestar Finance: 4.11%
</li>
</ul>
The second mention for this smaller lender, their 3 year fixed rate is competitively low and has no annual service fee.However, it does come with an application fee of $495 and a settlement fee of $535, which could be a turn off for some cash-strapped buyers. You also won’t be able to make extra repayments, so carefully mapping out the full cost of your home loan repayments is crucial. 
<ul>
<li>
UBank UHomeloan: 4.18%
</li>
</ul>
You won’t be able to make additional repayments or redraw from this home loan, and a $395 application fee is a considerable initial cost. If you don’t mind these parameters and have a 20% deposit, this loan offers a competitively low rate and no ongoing service fees.
Michelle Hutchison is finder.com.au's resident money expert. She can be contacted <a href="https://www.finder.com.au/michelle-hutchison" target="_blank">here</a>.
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mhutchison-SWt6qigzDX

July’s best fixed and variable home loans: Michelle Hutchison

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Melbourne entrepreneur Simon McNamara, co-founder of Grill’d, sold his 1930s Malvern family home last month.
It had been his family home since 2009 when his wife, Georgina paid $1.25 million.
Michael Armstrong of Kay Burton secured the sale with an undisclosed price.
The 4 Derril Avenue, Malvern home had $3.5 million plus hopes by the entrepreneur who is also into trampolining playparks Bounce.
There's a trampoline in the backyard too.
 
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jchancellor-FAypfDUnLy

Grill'd Simon McNamara sells 1930s Malvern home

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GUEST OBSERVER
The Urban Development Institute of Australia NSW welcomes the release of the state government’s Strata reform Bills following more than three years of stakeholder consultation.
The Bills introduce a number of measures that reflect the complexity of modern strata developments, and have the capacity to continue to change as more home buyers prefer to live in apartments. The strata laws under which we operate are the oldest in the world so the system is in desperate need of an upgrade.
Under current strata schemes it is difficult to renew dilapidated buildings because of outdated processes and procedures.
These Bills pave the way for Strata schemes to opt to modernise buildings that have reached the end of their economic life. 
The Bills do not apply to existing strata schemes, only future strata schemes with current strata schemes having the option to opt in, so it will take time to see material change in the NSW system. The introduction of the legislation will also be telling. 
We won’t see an impact from the draft Bills overnight, the true impact will be realised when the legislation is introduced, and we see the effect on existing strata schemes.
Numerous protections have been introduced for owners under the new schemes including a 2% bond to guard against building defects and major protections for elderly and disadvantaged residents through just-terms compensation and legal assistance. 
The UDIA NSW has minor concerns with aspects of the draft bills, particularly the proposal to include a non-voting tenant representative on strata executive committees – which may not be effective for a number of reasons including the often transient nature of tenants.  
While we will be working through the details over the coming weeks, we can’t lose site of the fact that the reforms are an improvement on the antiquated system that presently exists.
The Institute will be making a submission to the draft Bills and it looks forward to continuing to work with government on strata reform.
Stephen Albin is chief executive of the Urban Development Institute of Australia NSW. He can be contacted <a href="https://www.udiansw.com.au/pages/contact">here</a>.
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Minor concerns surround NSW Strata reform bills

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GUEST OBSERVER
The residential building transition is firmly on track. The ABS estimate that dwelling commencements rose by 8.6% in QI. Total commencements should total a record 219K in 2015 and 202K in 2016. This is a significant lift on the 2005‑12 average of 155K. Non‑residential building construction rose by 1.3% in QI.
The trends across the States showed a significant lift in commencements in VIC and QLD. NSW commencements edged up marginally. The increase in NSW commencements has been much softer compared to the pick up in NSW building approvals. NSW commencements are likely to record stronger outcomes over the remainder of 2015.  Across the other states, commencements fell in SA, WA, TAS and ACT.
We recently discussed the large pipeline of residential work that is yet to be completed. In the current residential construction upturn, the flow through from a building approval to a commencement to final completion has been longer compared to prior cycles. One of the reasons for this change is the larger‑than‑normal share of multi‑density dwellings in the pipeline. Multi‑density dwellings are accounting for 40% of total new dwelling commencements. In prior housing upturns, mutli’s were a smaller 30% of new dwelling starts. Multi‑density dwellings tend to have long planning and pre‑approval schedules. Site preparation can be lengthy and may require demolition, excavation and remediation. A longer flow through from approval to actual construction should mean that the positive impulse and contribution to GDP growth and the economy more broadly are also more drawn out.
On our calculations, the pipeline of residential work to be done should extend well into 2016.
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Non‑residential building trends have been varied.  Commercial approvals are weak because of elevated vacancy rates.  Industrial approvals have trended a little lower. 
But, other non‑residential approvals activity has picked up noticeably – particularly in NSW and VIC thanks to large rises in short term accommodation, education and aged care building.  Demographic trends favour construction in the education and health sectors. And a lower Australian dollar is positive for the entertainment and accommodation sectors.  Non‑residential building construction should edge higher over 2015.
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Diana Mousina is an economist for Commonwealth Bank of Australia. She can be contacted <a href="https://www.commbank.com.au/blog/authors/diana-mousina" target="_blank">here.</a>
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Dwelling starts set to track at peak levels over 2015 & 2016: CBA

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The NSW Government has said it will spend another $400 million to make land for housing shovel-ready and $19 million to create a planning body to oversee a plan to build 664,000 homes in 15 years. 
This addition to the Housing Acceleration Fund adds to the $566 million invested since its inception in 2012 and suggests the State Government subscribes to the shortage theory. 
But there’s another perspective on dwelling supply in Sydney – one that points to looming oversupply because of an overbuilding of apartments, a syndrome that’s rapidly spreading to all the capital cities of Australia.
Dr Nigel Stapledon of the University of NSW is one of those who believes Sydney is building too many apartments. Stapledon’s views deserve respect as someone who has comprehensively researched real estate in Australia, including one vast assignment which examined prices and rents going back more than a century. 
In a recent report, Stapledon said Sydney is about to be hit by a wave of new units, resulting in falling prices and rents in 2016. 
Stapledon said 13,000 new units will hit the market in Sydney before the end of the year. And an average of 28,000 new units will be completed each year for the next three years. Stapledon said that figure is more than double the historical average – between 2005 and 2014 an average of 15,700 new units were completed each year. 
The increase in supply could result in prices falling "north of 10%" within the next nine months, he said. The first sign of the slowdown will be an increase in rental vacancies followed by lower rent prices and a decline in investor demand.
His views make sense to me as recent history around Australia has shown that the one factor that can cause prices to fall significantly is an oversupply of dwellings. We’ve seen it recently in Gladstone in Queensland, the Hunter region in NSW and Port Hedland in WA, where a major lift in supply has been the big factor is sending a former boom into reverse. We’ve seen it in the past in apartment markets, including the Gold Coast and Melbourne.
If Stapledon is right, Sydney will join Melbourne, Brisbane, Perth and Darwin as capital cities which already have, or will soon have, serious gluts of inner-city apartments.
It seems every research entity relevant to Melbourne real estate has joined me in warning about the overbuilding of inner-city units. But new projects keep on coming. 
The latest mega project is an application for six towers in Fishermans Bend, with 1,580 units in a $600 million development south of the West Gate Freeway. Meanwhile, a 600-unit project has been proposed for South Kingsville and VCAT has approved a 450-unit project at South Yarra.
Melbourne may be the population growth capital (Melbourne added 95,600 to its population in 2014, compared to Sydney’s 84,200) but there are limits to how many units are needed – and to how many can be flogged to Asian investors.
The issue with Melbourne’s unit over-kill is not just the number being built – it’s also the size of them. On 5 July, The Age reported that “units with not enough space for basic activities such as eating at a dinner table” are planned for a new CBD tower. The 250m tower at 280 Queen Street by Brady Group has been branded too tall and bulky by council planners, who also found many of its 589 units were under-sized. 
The planners’ report said: "Many of the units are too small to allow for basic daily activities and functions such as eating at a dining table, or having a dressing table in the bedroom whilst maintaining access to the wardrobe." 
Although there will be 46 three-bedroom units, the planners said most were less than 70m2 - the minimum size for a two-bedroom unit in Sydney. 
According to council research, many bedrooms in Melbourne's high-rises do not have natural light. There’s a growing trend towards small floor plans, with 40% of the city's units less than 50m2. 
For all the above reasons, Melbourne inner-city apartments are shaping as very bad investments. You have wonder about the mentality of the investors who are lining up to buy them. Research is clearly not part of their process.
And it looks like Sydney is heading down the same slippery slope to surplus.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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terryryder-YECXbqmri2

The slippery slope to Sydney and Melbourne apartment surplus: Terry Ryder

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Brygon Reserve Shopping Village, a shopping centre in Upper Coomera’s high growth corridor on the northern Gold Coast, is being offered for sale by Ray White Commercial Gold Coast.
The 2,156 sqm site at lot 3/1 Brygon Creek Road, consists of eight tenancies, anchored by an IGA Express supermarket.
Steven King of Ray White Commercial Gold Coast says the centre’s potential base rental income represents $369,240 per annum.
Offers close on August 6.
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Brygon Reserve, Upper Coomera listed

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The redevelopment of Sydney's choicest strata apartment buildings has moved closer.
The NSW government has released draft legislation proposing that ageing blocks can be demolished, if just 75% of the apartment owners approve the sale to developers.
Based on one vote per unit, not on different unit entitlements, it is a big change on the 100% agreement currently required.
Older residents in prime, under capitalised older blocks will be increasingly discomforted that their building could be sold from under them – even with supposed safeguards on the fairness and transparency of the new process. The new process will apply only to existing strata schemes if the owners corporation agrees to opt in. If the majority of owners (50% or more) don’t support the decision, no further action can be taken.
<a href="https://www.fairtrading.nsw.gov.au/ftw/About_us/Have_your_say/Reform_of_strata_laws.page" target="_blank">However draft bills by the Minister responsible for Fair Trading, Victor Dominello</a> aim to pave the way for reforms that reinvigorate increased housing supply and a stronger construction industry.
"By 2040, about half of Sydneysiders will be living in strata," he said.
"The proposed reforms are reflective of present needs and future demands."
The initial strata legislation was introduced in 1961.
The consultation started in 2011 advances the most controversial ability of strata owners to terminate the scheme – and sell or redevelop the building – if 75 per cent of the strata owners agree.
The draft Strata Schemes Management and Strata Schemes Development Bills are open for feedback until August, 12 2015. Final bills will be introduced to Parliament later this year.
Similar models already operate in New Zealand, most states of North America, and the United Kingdom.
Protections would be in place for elderly and vulnerable owner-occupiers of strata units. Fair Trading would establish a Strata Renewal Advice and Advocacy Program to provide free advice for residents.
This would include an assistance hotline and a free advocacy service for vulnerable residents.
The proposed reforms are designed to ensure that owners receive at least the market value of their lot plus an extra amount to cover costs like those associated with moving, as required by the Land Acquisition (Just Terms Compensation) Act 1991.
Any plans for renewal would be referred to the Land and Environment Court for final consideration. The Court would consider whether the process has been properly followed. It would initially seek to resolve disputes through conciliation or mediation.
The Court would be able to reject a renewal plan if:
<ul>
<li>it has not followed proper processes or been developed in ‘good faith’ or</li>
<li>the amount to be paid to a dissenting owner was less than the compensation value of the lot or</li>
<li>the terms of settlement were not just and equitable.</li>
</ul>
There are several stages that strata schemes would need to follow as part of the collective sale and renewal process.
Vote to opt into the process
The new process will apply only to existing schemes if the owners corporation agrees to opt in. If the majority of owners (50% or more) don’t support the decision, no further action can be taken.
Initiate the collective sale/renewal process
A proposal to sell or redevelop a scheme must first be considered by the strata committee (currently known as the ‘executive committee’). A general meeting of all owners is then called to consider the proposal.
Form a strata renewal committee
If the majority of the owners (50% or more) agree to pursue a proposal, a committee is elected to investigate and develop the proposal. The committee can appoint professionals such as valuers, lawyers, and tax experts to assist them.
Develop a collective sale/renewal plan
The strata renewal committee develops a plan that must set out certain information to help lot owners make informed decisions. The strata renewal committee, and the owners corporation will hold meetings to discuss and further develop the plan. The plan will need to address certain areas such as the amount that each lot owner will receive under a collective sale as well as the costs and liabilities that will be faced by the owners corporation, the proposed settlement date and arrangements for moving out of the building. Guidance material will be made available on how to prepare a sale and renewal plan.
Consider the plan
Owners will have a minimum of 60 days to consider the plan and seek independent advice. Owners in favour of the plan will sign a support notice, which will be given to the secretary of the owners corporation. The plan lapses if it is not supported by 75% of owners within 12 months. The plan will list the compensation that is to be paid to each lot owner in dollar terms, as a formula (e.g. a percentage of the sale price) or in kind (e.g. a lot in the new building).
Approval of the plan
Plans for renewal would be referred to the Land &amp; Environment Court for final consideration.
 
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