<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Joel Robinson

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

[smartcode_project:default project_id=111820 project_image_fid=344699]

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

[smartcode_project:default project_id=136442 project_image_fid=374084]

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li>An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li>Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li>No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li>Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li>Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

<html><body>
According to a new nationwide survey, 46% of Australians have been forced to reduce their spending on "essential" items.
The independent consumer body CHOICE reports that renters are the hardest hit, with 45% of renters reporting that they are struggling to get by on their current income, compared to 27% of mortgage holders. Low-income households and parents with school-aged children also reported financial hardship.
Of the 1,001 survey respondents, 31% said they were finding it difficult to get by on their current income, with 11% finding it "very difficult". Only 18% said they were "living comfortably", with 5% responding that they were living "very comfortably".
CHOICE chief executive Alan Kirkland says one in every five respondents reported they have relied on credit cards or borrowing from friends or family to cope until payday.
"This reveals some striking concerns with cost-of-living, which is perhaps not surprising at a time when inflation is outstripping sluggish wages growth, retail sales are fragile and the political debate remains focused on household expenses,” says Kirkland.
Government cutbacks were a major concern for consumers, with 72% worried about government spending cuts. Kirkland calling public spending reductions "the major consumer worry".
Major household concerns include electricity bills, fuel and food and groceries. The survey, which saw 52% of respondents claiming they were "very worried" about electricity prices, was conducted before the repeal of the carbon tax.
“With such a drawn-out debate over the carbon tax it is not surprising to see electricity at the top of the list, although clearly prices have been driven by a number of factors, including rising infrastructure costs,” says Kirkland.
</body></html>

jrichardson-uRX5hFdKfN

Renters the hardest hit by costs of living, 46% of Australians cutting back on essentials: CHOICE

<html><body>
Meriton Group, Australia’s largest apartment developer, have signed a partnership agreement with Livable Housing Australia.
Aiming to focus on universal standards around safety and comfort, with design adapting to changing circumstances and mobility of residents, Meriton's general manager Peter Spira said that they consider the deal an evolution.
Livable Housing Australia executive director Amelia Starr said that this is one more step forward to getting the entire industry to adopt the Livable Housing Design Guidelines. At present, they also had the Australian Institute of Architects, the Property Council of Australia (PCA), Lend Lease, Master Builders Australia and Stockland as Corporate Partners.
The move was welcomed by PCA’s chief executive officer Ken Morrison, saying that the leaders of the industry recognise that a livable home is simply good design.
It was also noted that the partners have been embracing the guidelines as they believe it will make the properties easier to sell.
</body></html>

jduke-EHk3XBmHkn

 Meriton signs deal with Livable Housing Australia

<html><body>
GUEST OBSERVATION
So you were born between the late 70s and the early 90s - chances are housing affordability and home ownership is at the top of your list of priorities. We hear many of you asking, "How can I get in to the market?" It's too expensive; it's dominated by investors; I'm doomed to renting for the rest of my life.
However, this doesn't need to be the case. Here is how to crack it:
<ol>
<li>
What to do if you think you can't buy The worst thing you can do is make the assumption you can't buy and assume you have to rent. Chances are if you can be approved for a rental agreement, there is a chance you can be approved for a mortgage. Before you count yourself out, collect all of the funds you have that could be used for a deposit. Take note, that you don't need to put all of your equity in to your home. Take a longer mortgage out and take advantage of fixing your interest rate at the current very low levels. 
</li>
<li>
Make sure you bring an agent in from the outset  If you want to buy, you need to learn from experts. Agents live and breath the market daily, so call three or four local agents in the areas you are looking. Stipulate your price range, your must-haves, and your readiness to act. Then let them do their work. Tell them how much contact you want to achieve, if you are specific on only one type of property, tell them that is the only time to contact you.  
</li>
<li>
Remember to wait.... It's not urgent  Once you've made the decision to buy, remember that this is something that will take time. There is not a transactional element involved here, but do remember that whilst it most likely is your largest investment, don't be scared. Too many people sit back and wait for the 'perfect home', which doesn't exist. Speak to people who have been through the process and ask what worked for them, and what didn't. Set up alerts so it doesn't consume your life.  
</li>
<li>
Pick the neighbourhood, not the house  Before you start trying to pick a home, drill down on the hard facts of where you want to live. If there are multiple areas, try a map search with multiple suburbs. Before you do this, there is no use in looking at houses. Once you have concluded which areas you want to live in, and have factored in your approved budget you will be working with realistic purchases that are worth you spending your time on. 
</li>
<li>
Use the inspection wisely  Most people turn up to an inspection and walk through, for first home owners, because homes are generally small they finish this in five to 10 minutes. If you are serious, start thinking bigger picture. Measure walls, spaces and ask questions. Ideas such as if you can knock walls down, the expected monthly costs associated with a house of that size, and viewing the home with a builder are all ways to ensure you have a plan of attack, not just to live there, but also to add resale value.
</li>
</ol>
Todd Schulberg is marketing engagement and digital strategy executive at <a href="https://www.homely.com.au/" target="_blank">Homely</a>.
</body></html>

po-LsXgBTHBmX

Five tips to help Gen Y buyers crack the market

<html><body>
If you are thinking of developing property then you will need to have a good understanding of construction finance.
As property developers, most of our clients like to highly gear their lending. That means, using as much funding from others to pay the builder rather than use their own cash reserves.
However, you may like to use a line of credit (LOC) set up against another property and/or cash on hand to fund your development. It will depend on your own situation and strategy.
You will require some cash to put into the deal of course for deposits on the land purchase and on the construction loan.  The loan to value ratio (LVR) will vary from lender to lender from just 50% up to 95% with lender's mortgage insurance (LMI).
What Is a Construction Loan?
A construction loan is specifically intended to be used to pay for the construction of new dwellings. The loan will be finalised once you have provided your lender with a number of documents including the DA consent for your project, the construction certificate, council stamped plans and your signed builder's contract.
If you are not sure who to use for construction lending, a good starting point is a mortgage broker. They will look at your individual situation and advise the right lender for you. 
However, make sure you do your finance due diligence before you buy the land/property you intend to develop. It's important the lender you use to finance the purchase of the land/initial property also offers construction loans as not all lenders do. You can brief your broker to only present lenders who offer construction loans.  Early identification of any issues that may impact on your lending, will mean a smoother process once your development application is approved.
Understanding the process
In the builder's contract there will be a draw down schedule. Some banks will accept this and others may ask for it to be changed to suit their policy.  Once your lender gives you unconditional finance approval, they will send a letter to the builder authorising the commencement of construction work.
The first drawdown or payment to your bank will be required after the slab or slabs are laid.  
The second due after frames and trusses are erected.
The third is typically due after brickwork, windows and roof coverings are completed.
The fourth payment will be paid after the internal linings (insulation, plasterboard or internal concrete walls, ceilings) and timber mould out or fit out. This includes timber architraves, skirtings and doors. This can be known also as 'lock up' stage.
The last payment is due after a practical completion inspection is done and you are happy the builder has completed all (but some minor touch ups which they usually have seven days to complete). Your bank will send a valuer out to check that all works have been completed before they pay the final payment to your bank.
At Property Bloom, our role is to ensure the builder meets these milestones before we instruct our client to authorize all payments. We also oversee any credits that may be due to our clients and variations that may be required. It's important property developers do hold a contingency fund for any unforeseen works that may be required that aren't included in the builder's contract. For example, rock excavation is almost always an excluded item and mostly cannot be determined until the site works commence.
It is also possible for you to take out a construction loan for the renovation of your existing home or an investment property. However, the process of applying for a construction loan for renovations may differ to that of construction lending on new dwellings, so be sure to check this with your lender.
What do you need to submit in your application for construction lending?
The more you understand what banks are looking for before you apply for a construction loan, the better this can play out for your development and make the processes as smooth as possible.
We've had some situations where the bank has taken literally six months to process and finalise a construction loan. This is not good for property developers because our main goal is to complete our project as quickly and efficiently as possible. If you are waiting this long before you can start to build, then holding costs can eat into your profit. Here's <a href="https://www.mortgagechoice.com.au/media/2590560/Construction-loans.pdf">a good overview</a> on what you will need to have ready to submit to your lender to ensure a successful loan application as well as required repayments.
Being financially prepared is just as important for property developers as doing your due diligence on the right location for your development and using the right builder.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
</body></html>

jochivers-wq5Bp59R5a

Financial preparation is just as important as due diligence for property developers

<html><body>
A charge of $900 per dwelling for new Hoddle Grid residential towers has been passed unanimously by the Melbourne City Council as they look to fund necessary infrastructure for an expected population surge.
The charge is to create a $26.5 million fund for public infrastructure needed for the expected 14,200 new residents by 2031.
However, it’s less certain who will be footing the bill.
While they are more officially called ‘developer contributions’ Fairfax Media reported that Melbourne lord mayor Robert Doyle said it is a charge that will be simply passed straight on to the purchasers of the residential units.
The levy will be regardless of when applications were lodged and will come into existence from next month.
With 25,210 residents, according to Robyn Hellman, actring manager strategic planning in the Report to the Future Melbourne (Planning) Committee, the area is rapidly growing with 9,547 new dwellings expected in 2031. This required 3,792 square metres of new community infrastructure.
The report notes that a $900 levy would be a “modest impost” on development, and in conjunction with the proposed open space contribution it would total $3,800 on a $500,000 apartment, or 0.76% of the value.
It notes that this is comparable with Central Sydney’s 1% levies. Brisbane has similar levies and in Victoria the City of Moreland collects an average of $800 per dwelling, while the City of Darebin collects an average of $851 per dwelling.
The maximum under the Act for this levy is $900, though it’s noted that to reach the infrastructure contribution it would likely need to be $1,659.12.
Another 5,260 apartments are currently under consideration for approval, and are likely subject to the levy.
From 1 July 2015, the state government is looking to introduce a standard infrastructure levy of $4,500 per dwelling.
“However the mechanisms for its application have not been defined. While the Hoddle Grid appears to fit the criteria for an SDA, this has not yet been determined by the State Government,” the report notes.
The report also suggests strongly considering the Hoddle Grid as a State Development Area.
</body></html>

Melbourne City Council highrise apartment tax sparks debate

<html><body>
Retail giant Woolworths has revealed its home improvement chain Masters continues to operate at a loss.
Woolworths reported yesterday financial losses this financial year at the big box retailer exceeded the year before.
<a href="https://www.smartcompany.com.au/growth/41756-masters-has-machismo-but-needs-aldi-smarts" target="_blank">Masters</a> recorded sales of more than $1.5 billion in the 2014 financial year but will not break even in 2016 as previously forecast.
Woolworths chief executive Grant O’Brien said in a statement he is “disappointed” but still “confident” Masters will make it into the black eventually.
“The rationale for entering this [home improvement] market remains strong,” he said.
“It is a $45 billion market with 5% annual growth and one significant retailer with approximately 17% market share. It is a fragmented market that is in the process of consolidation as demonstrated by the 42% Masters sales growth in financial year 2014.”
The “one significant retailer” which serves as Masters’ main competitor is of course <a href="https://www.smartcompany.com.au/legal/intellectual-property/30259-hardware-fight-gets-nasty--bunnings-registers-masters-business-name-in-new-zealand" target="_blank">Bunnings</a>.
Stephen Kulmar, founder of retail consultancy Retail Oasis, said when Bunnings entered the home improvement category and consolidated the market Woolworths clearly saw an opportunity.
“But Masters is so similar to Bunnings that it is hard to see how they differentiate or compete against them,” he says.
“They haven’t done a good enough job in targeting females, that casual DIY market is where they should have pitched the market.”
Kulmar says, if anything, Bunnings has enjoyed the challenge of having Masters in the market.
“I also don’t think you can discount the performance of Mitre 10, which has targeted trade and serious DIY,” he says.
“The two of them have made it very difficult for Masters to establish a position in the market.”
If it’s difficult for Masters to compete, Kulmar says it is even more difficult for independent retailers in the sector. 
“There has been natural consolidation in the market anyway,” he says.
“But it is tougher for independents today than it was 10 years ago.”
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
YOU MAY ALSO LIKE TO READ: 
<a href="/expert-insights/investing/masters-could-learn-a-lot-from-aldi">Masters could learn a lot from Aldi</a>
</body></html>

cwaters-YrtBR88nBe

Woolworths reveals Masters failure: Financial losses continue to build

<html><body>
Harry Triguboff’s Meriton Group has bought the DEXUS Property Group business park in Rosebery spending $190 million for the 4.9-hectare offering.
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
DEXUS Property Group sold <a href="https://www.realcommercial.com.au/property-offices-nsw-rosebery-5497126" target="_blank">5-13 Rosebery Avenue</a> (pictured above) and 25-55 Rothschild Avenue in Rosebery, Sydney, with trading profits to be realised in FY15 and FY16. 
It is expected that the sale will contribute approximately $17 million to FY15 trading profits and materially increase trading profits in FY16 contributing approximately $74 million pre-tax. 
</div>
</div>
</div>
The business park which had a book value of about $100 million was sold through JLL’s Michael Fenton, Sam Brewer and Blair Peterken.
Meriton now has 14,000 units in its pipeline as more than 1000 apartments will be built at the 4.9-hectare site.
There are eight mature Hills Fig trees on the boundary of 5-13 Rosebery Avenue with City of Sydney studies having identified these trees as a local landmark and as a defining feature of the precinct. 
5-13 Rosebery Avenue is a recently refurbished, 10 level office building within close proximity to Southern Cross Drive, the Eastern Distributor and Sydney Kingsford Smith airport.
During the year DEXUS undertook a total of $5.4 billion transactions across the group, including the joint acquisition of the $3.4 billion CPA portfolio with CPPIB. 
The CPA transaction, completed in April 2014, increased the value of the office portfolio to $7.6 billion.
DEXUS today announced its 30 June 2014 results. 
Dexus Property Group said its full-year net profit fell to $406 million. Revenue in the year rose 7.2% to $700 million.
In FY15, DEXUS has a trading profit target of $40 million.
DEXUS chief Darren Steinberg said it had progressed the sale of 40 Market Street, Melbourne which is expected to contribute to FY15 trading profits.
</body></html>

jchancellor-FAypfDUnLy

Amid heritage fig trees Meriton spends $190 million on DEXUS Rosebery business park

<html><body>
The Roche family has secured $58 million plus for its Balmain waterfront industrial site, the former headquarters of their former Nutrimetics cosmetics business.
Toga Group is believed to be the buyer of <a href="https://www.propertyobserver.com.au/https://search.knightfrank.com.au/1634869" target="_blank">100 Elliott Street</a>, according to the Australia Financial Review.
It is a 12,375 square metre site - with development approval for 121 apartments - on the banks of the Parramatta River.
<a href="https://www.propertyobserver.com.au/https://search.knightfrank.com.au/1634869" target="_blank">Knight Frank agents Peter Krieg and Domenic Ong</a> marketed the property which had a 30 July expressions of interest deadline.
Bill and Imelda Roche sold Nutrimetics to the Sara Lee Corporation in 1997.
 
{qtube vid:=dP0MxvqrwsE}
</body></html>

Roche family secures $58 million plus for former Balmain Nutrimetics HQ

<html><body>
Property investors who stake their income on the performance of mining towns need to be aware of a variety of factors that might impact their properties, from new mines to the international resource markets. 
Those investing in coal mining towns will no doubt be interested to know that the price of thermal coal has dropped 51% since July 2011, according to Australian Ethical Investment - and the company's international equities trust portfolio manager Nathan Lim thinks the trend is likely to continue. 
According to Lim, the reasons coal is struggling are largely "secular", not cyclical. 
There are nine factors Lim thinks are driving the resource's slowdown:
<ol>
<li>
"Global production isn't coming off-line fast enough" Lim claims that in Australia, around "40% of all seaborne coal is unprofitable". In order to fulfill prior shipping commitments, producers are forced to sell the resource at a loss. However, Lim believes the problem will self-correct, once demand picks up or producers run out of money. 
</li>
<li>
Japan's consumption is up... but it won't continue With many of its nuclear power plants out of action, Japan has increased its consumption of coal, pushing up prices, Lim explains. But the push is only temporary, with nuclear power plants to restart and an increase in the use of solar energy. 
</li>
<li> "Electricity consumption in the developed world has either stopped growing or is in outright decline" According to Lim, the weakened position of the global economy has cut power consumption, but he also believes increased energy efficiency and "behavioural changes" are behind the decrease in demand. 
</li>
<li>
"Domestic coal is not so welcome at home anymore" Lim believes that the United States' increase in coal exports over the past decade is the result of more stringent legislative requirements for power plants, which lead some owners to close their facilities. He predicts another set of closures after new US Environmental Protection Agency (EPA)rules on mercury come into play in March 2015, degrading demand further. "This coal is finding its way into the international coal markets further expanding the gap between supply and demand," explains Lim. 
</li>
<li>
New carbon emission legislation for existing power stations The switch to natural gas from coal is a big feature in new EPA legislation targeting carbon emissions from power stations. Given the low price of natural gas, Lim predicts the legislation will lead to more coal-fired power plant closures, and effectively restrict new coal fired plants from being constructed. He believes even more coal will enter the international markets as a result.  </li>
<li>
EU greenhouse gas emission targets "For its next decadal goal, the EU has targeted a 40% reduction in greenhouse gas emissions from 1990 levels by 2030," explains Lim. "Amongst the highest emitting fossil fuels, coal will continue to be friendless in Europe." 
</li>
<li>
"A more punitive price on carbon will make the EU’s goal more easily achievable" Lim predicts that although carbon prices have been "distorted by unintended policy decisions", eventually policy makers will find the "right" structure. "When this happens, we expect the cost of coal pollution will dramatically increase the cost of coal-fired electricity and allow other, low emission technologies to better compete," Lim claims. 
</li>
<li>
India's new Prime Minister appears to favour renewable energy According to Lim, India's new Prime Minister Narendra Modi is "very much pro-solar", with a history of supporting renewable energy. "Calling for solar power to bring electricity to 400 million people is ambitious without equal," notes Lim. "This goal tacitly recognises that India has failed to bring its people out of energy poverty using conventional methods." 
</li>
<li>
China plans to ban coal-fired power from Beijing by 2020 Though some claim that the move is a token one given China's total coal consumption, Lim suggests that China is continuing its practice of "experimentation" before it comes to a decision. "It is more instructive that China is taking such extraordinary steps to deal with air pollution that high emitters should heed the warnings coming from the government," states Lim. "Ordinary Chinese citizens are fed up with the pollution and coal is an obvious target for their frustrations. Given that China is also experimenting with carbon pricing, are the world’s biggest producers of solar power (and a close second or third in wind) and have made pollution abatement a priority, we might be seeing the beginnings of a major structural shift in China’s generation mix."</li>
</ol>
</body></html>

The nine reasons coal towns will continue to struggle: Australian Ethical Investment

<html><body>
1B Grong Grong Court, Toorak sold earlier this month after being on the market since late April.
<a href="https://www.realestate.com.au/property-house-vic-toorak-116743255" target="_blank">Paul Ffeiffer and Anthony Grimwade at RT Edgar</a> secured a sale price of $5,188,888 for the three storey trophy home.
"Hopefully bringing luck to the Chinese National Buyer," buyers agency James Buyers Advocates said.
It was marketed as French inspired elegance.
There's a lift from the basement with parking, gymnasium and 2,000 bottle wine cellar up to the top level with the four bedroom, four ensuite home.
The 600 square metre block cost $1.6 million in 2006 when bought by the Dimas family.
</body></html>

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News