High-profile apartment defect cases have changed the way many NSW buyers approach purchasing, putting greater scrutiny on building quality, strata records and the parties behind a development before a contract is signed.

The industry buyers are assessing today, however, is also different from the one in which cases such as Opal Tower and Mascot Towers emerged.

NSW has introduced a series of regulatory measures aimed at strengthening oversight of apartment construction, including Building Commission NSW, the Residential Apartment Buildings Act 2020 and the Strata Building Bond and Inspections Scheme. Under the latter, developers are required to lodge a bond, with independent inspections forming part of the process for identifying defects in new strata developments.

Those changes provide another layer of protection, but they haven't removed the importance of buyer due diligence.

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For purchasers considering an apartment, that means looking beyond the residence itself. Building and strata history, strata reports, the track record of the builder and developer, the condition of common property and any known or planned expenditure by the owners corporation can all form part of assessing a building before purchase.

Whether the development is already complete can also materially change what can be assessed.

An off-the-plan purchaser is necessarily buying before the finished product exists. A completed apartment, by comparison, can be walked through before contracts are signed, allowing the purchaser to see the finishes, common areas and broader building as they have actually been delivered rather than relying solely on plans and renders.

It also removes exposure to some of the uncertainties that exist between an off-the-plan purchase and completion, including construction delays, cost pressures and builder insolvency during the delivery period.

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<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a> National Sales Director Ben Hamblett said that greater focus on tangible evidence is increasingly evident among apartment purchasers.

“The biggest shift we're seeing is buyers wanting proof, not promises,” Hamblett said.

“That's exactly why we deal in completed stock - you can inspect the building before you commit - and why we've backed every purchase with a cash bond against special levies.”

At <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> in Parramatta, that emphasis on a completed, inspectable product is already in place.

The 413-apartment, 46-level tower at 12 Phillip Street is being marketed by Projects by Equitifund, allowing prospective purchasers to inspect the residences, common areas and resident facilities before committing.

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The Lennox also introduces another layer to the due-diligence conversation through Strata Surety.

The vendor-funded arrangement provides purchasers with a cash-backed bond held in their own solicitor's trust account from settlement. According to Equitifund, the bond covers any special levy raised during the applicable cover period and is provided at no cost to the purchaser.

Special levies can create an unexpected cost for apartment owners where an owners corporation needs funding beyond its existing strata contributions. Under NSW strata law, a special levy requires approval by owners at a general meeting.

Equitifund Executive Chairman Greg Huxley said Strata Surety was designed to provide something more concrete than reassurance about that potential exposure.

“Buyers have every right to ask hard questions about strata risk - the industry has given them plenty of reasons to,” Huxley said.

“Our answer isn't a reassurance, it's a bond. Strata Surety puts real money behind that confidence, held by the buyer's own solicitor, not by us.”

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For The Lennox, its completed status also means purchasers can assess not only the apartment itself, but a building that has already been occupied and operating for several years.

Completed in 2021, the $300 million development, designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, comprises one, two, three and four-bedroom apartments, with open-plan living areas extending to private balconies. Interiors incorporate engineered timber flooring, stone benchtops and integrated appliances, while many upper-level residences have views across the river and surrounding district.

Its established amenity can similarly be inspected in operation. Resident facilities include the Watermark precinct with a 20-metre pool, outdoor terrace, barbecue areas, gym, fitness studio and conference room, while ground-floor retail addresses the river walk and surrounding public space.

The Lennox is also home to the Southern Hemisphere's first fully robotic residential car park, which has now operated for several years. Its nine-level basement combines three conventional parking levels with six automated levels, accommodating 327 vehicles using technology from German firm Lödige Industries.

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The riverfront address puts The Lennox close to much of central <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a>'s existing infrastructure, including Parramatta Station, Westfield Parramatta, Parramatta Park, and the Church Street dining precinct.

The remaining apartments form part of a limited release secured by Equitifund, following the sale of the majority of residences before and shortly after completion.

The regulatory environment around NSW apartment construction has changed considerably since the defect cases that reshaped public discussion around the sector. For purchasers, however, regulation is only one part of the equation. The ability to investigate a building's history, review its strata position and, where possible, inspect what has actually been delivered remains central to making an informed apartment purchase.

At The Lennox, its completed status provides that opportunity before contracts are signed, while Strata Surety adds a financial backstop against special levies beyond the protections already provided under NSW strata law.

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Joel Robinson

Buying with confidence: What NSW apartment buyers should check beyond the defect headlines

Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

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Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

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The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

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According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

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Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

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Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

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Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

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<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

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A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

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The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

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?

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

<html><body>
“Joe’s discovered the Intergenerational Report,” a Labor figure said last week.
Indeed. Suddenly retirement issues are front-of-mind for Hockey, something they very much weren’t when he sacked the Advisory Panel on Positive Ageing, chaired by Everald Compton, last year. As Compton (not exactly a raving lefty, given his long links with the Nationals) <a href="https://www.crikey.com.au/2013/11/15/why-joe-hockey-should-not-have-sacked-me/" target="_blank">noted in Crikey</a>, dumping the panel was primarily about obliterating any reminders of the treasurership of Wayne Swan.
But there’s one legacy of Swan’s that Hockey must be grateful for — Labor in 2009 decided the pension age would rise from 65 to 67, from 2017 through to 2023. In that period, the preservation age — at which you can access your superannuation — will also rise from 55 to 60.
Why did the preservation age rise as well? Because the policy problem here is removing disincentives for people to keep working if they can. Both access to the age pension and access to super create financial and social disincentives to keep working. The Henry Review recommended that eventually the preservation age rise to the same level as the pension age.
Then again, if you have a set of superannuation tax concessions that cost the budget nearly as much in lost revenue as the cost of the pension itself, you’re offsetting a fair amount of your savings from lifting the pension age — which is exactly what Hockey did last year when he dumped Labor’s (modest) proposal for higher taxes on super earnings over $100,000 pa.
All this could be called the Education of Joe, a process that has been in train since late last year when Hockey got a look at the real numbers about the economy, not the confections from consultants and compliant business economists. The Coalition had blithely issued pre-election assurances that it wouldn’t make any changes to pensions, and they were doubtless honest ones; why on earth would the Coalition want to alienate its key support base? The Coalition had gone after Labor in 2008 for failing to increase the cost of pensions by lifting the pension level, which the Rudd government eventually did. And as Labor’s Chris Bowen pointed out back in February, Hockey remained in that mindset right through until November, when the <a href="/news">Productivity Commission</a> recommended the pension age be increased to 70 by 2035. “We have no plans to change the age,” <a href="https://www.smh.com.au/federal-politics/political-news/no-plans-to-raise-pension-age-further-says-coalition-20131122-2xzev#ixzz2yoXjfzE2" target="_blank">Hockey’s office said</a>, dismissing the PC as “an adviser to government, it’s not the government”.
Well, that’s all changed now. Maybe he had a chat with his new Future Fund chairman Peter Costello, who began the Intergenerational Report process in the Howard years.
As the PC explains, this is complex — it’s not as simple as bumping up the retirement age because we’re living longer. Note that we’re talking about the 2030s and not now, the next budget year or the run-up to the federal election. This is fair dinkum long-term policy making. Some of the complications the PC teases out are:
<ul>
<li>Large numbers of older workers are on the Disability Support Pension because they can’t get work — employers are stigmatising them, or they physically can’t keep working; 
</li>
<li>The practical issue isn’t increase in life expectancy but increase in years of “healthy life expectancy” in which one can actually work, which is less (how many 69-year-old construction industry workers do you know?); 
</li>
<li>Large numbers of workers work more part-time as they near retirement, and our volunteer workforce is primarily people near or in retirement; 
</li>
<li>The interaction of the age pension and superannuation is complex: leaving the preservation age at 60 will leave in place incentives to retire early, especially if one can take super as a lump sum then move onto the age pension or part thereof (with its attendant health care cost benefits). Watch out for changes to the preservation age if and when Hockey’s changes to the retirement age are announced; and 
</li>
<li>On the positive side, the older workforce of the 2030s will be very different to the older workforce of today in educational and skills terms.</li>
</ul>
There are also equity issues: high income earners aren’t affected by pension age changes, because they won’t qualify. Low-income earners, those with low super and those on the DSP are likely to be affected significantly more. Still, the savings from getting it right are significant — the PC estimated $150 billion would be saved between 2025 and 2060 from lifting the retirement age to 70.
And, as always in retirement policy, there is the unseen hand of the fee clippers in banks, insurance companies and financial planning sucking tens of billions of dollars a year from the $1.8 trillion dollar super pot, which will be affected by changes to the preservation age (Australians will be drawing much more on the super pot in the 2030s than they are currently, so an increase in the preservation age will offset some of that, to the benefit of the wealth management industry.
This links into the muddled (we’re being generous) thinking on the FOFA repeal, which will mean retirees have significantly lower retirement incomes in the 2020 and 2030s because of fee-skimming by planners and the banking/insurance cartel. It also means Hockey’s financial system inquiry should make retirement policy and superannuation its first order of business. The submissions from the Reserve Bank, APRA and federal Treasury show they understand the primacy of this issue. Will Joe follow up and tell the Murray Inquiry that its priorities have changed?
Compton’s panel was looking at many of these issues when it was axed by Hockey. The Treasurer is to be commended for trying to drive a debate on this, and more broadly on the long-term sustainability of the budget. Too bad he dumped something that could have ensured that debate was significantly better informed.
One more thing: in 2012, the average life expectancy of an indigenous male was 69.1 years. There’s something horrific about proposing to lift the retirement age to above how long Aboriginal and Torres Strait Islander men currently live. By the 2030s, one can only hope the Gap will definitely have been Closed. But what are the chances?
This article first appeared on <a href="https://www.crikey.com.au/" target="_blank">Crikey</a>.
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jake-cSmGT7VXVf

Pensions, superannuation and the education of Joe Hockey

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The Reserve Bank of Australia board has noted the most prudent course ahead was likely to be a period of stability in interest rates.
Members observed housing market conditions remained strong, with housing prices rising in March to be 10.5% higher over the year on a nationwide basis. 
They also noted that dwelling investment had increased moderately in the December quarter, with a pick-up in renovation activity and that the high level of dwelling approvals in recent months foreshadowed a strong expansion in dwelling investment.
The April meeting minutes also noted financial markets and money market rates in Australia continued to imply that the cash rate was expected to remain unchanged over the remainder of the year.
Members began their discussion of the domestic economy acknowledging a range of indicators of labour demand suggested a modest improvement in prospects for employment, although the unemployment rate was still expected to edge higher for a time.
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jchancellor-FAypfDUnLy

RBA says period of stability in interest rates lies ahead: April minutes

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Last week there was an ordinary 53% auction success rate when 34 homes were offered in Sydney's eastern suburbs.
But last night it worsened to a 42% clearance rate on the official list of 35 offerings.
Most of the sales - some nine in total - were locked in prior, so on the night there were just six sales.
The six declared sales on the night sales ranged from $450,000 in Ruschutters Bay to $2.06 million in Clovelly.
There were undisclosed negotiations after a $5.65 million Rose Bay property was passed in by LJ Hooker agent Alain Waitsman which resulted in an undisclosed higher priced sale.
There were some bright spots with five registered parties on a Randwick offering through Goodyer Real Estate.
The initial shock 53% auction clearance rate came when 34 eastern suburbs listings were put under the hammer on 7 April through Cooley Auctions.
"It had to happen," one agent told Property Observer after the clearance rate dipped to just 42%.
"Up to $2 million is still okay," another agent advised.
Last night had six properties passed in with prices between $900,000 in Redfern and $5.3 million in Woollahra. Significantly five of them were on a vendor bid, suggesting acute buyer hesitation or even absence.
There was also 14 official withdrawals or postponements.
That's 40% of the offerings that were pulled from auction given the unsustainable pre-Easter swelling in supply. But another factor was Jewish passover.
The 42% clearance rate was well below the 75% plus that has become the norm in the latter stages of the 11 auction weekends so far this year.
As indicated over the past few weeks, Property Observer has sensed the slight turn in market sentiment with the results suggesting some vendors have got too greedy, some buyers are getting understandably cautious at not overpaying, and some estate agents have got a bit slack at doing their job of knocking heads together.
<table>
<colgroup>
<col width="180">
<col width="75">
<col width="55">
<col width="190">
<col width="90">
</colgroup>
<thead><tr>
<th>
Property
</th>
<th>
Result
</th>
<th>
Price
</th>
<th>
Agency
</th>
</tr></thead>
<tbody>
<tr>
<td>7 Brisbane Street Bondi Junction</td>
<td>Passed In (VB)</td>
<td>$1,100,000</td>
<td><a href="https://www.raywhitebj.com.au/" target="_blank">Ray White Bondi Junction/Coogee</a></td>
</tr>
<tr>
<td>3/240 Bondi Road Bondi</td>
<td>Sold Prior</td>
<td>$812,000</td>
<td><a href="https://www.rhbondibeach.com.au/" target="_blank">Raine &amp; Horne Bondi Beach</a></td>
</tr>
<tr>
<td>38 Pauling Street Coogee</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.belleproperty.com/bondijunction" target="_blank">Belle Property Bondi Junction</a></td>
</tr>
<tr>
<td>2/1 Caledonian Road Rose Bay</td>
<td>Passed In (VB)</td>
<td>$1,280,000</td>
<td><a href="https://www.cooleyauctions.com.au/www.ppdre.com.au" target="_blank">Phillips Pantzer Donnelley</a></td>
</tr>
<tr>
<td>2/208 Gardeners Road Kingsford</td>
<td>Sold Prior</td>
<td>undisclosed</td>
<td><a href="https://www.mint360property.com.au/" target="_blank">Mint360property</a></td>
</tr>
<tr>
<td>71 wentworth Street Vaucluse</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.alisoncoopes.com/" target="_blank">Agency by Alison Coopes</a></td>
</tr>
<tr>
<td>G619/780 Bourke Street Redfern</td>
<td>Passed In (VB)</td>
<td>$900,000</td>
<td><a href="https://www.mortonandmorton.com.au/" target="_blank">Morton &amp; Morton</a></td>
</tr>
<tr>
<td>296 Clovelly Road Clovelly</td>
<td>Sold Prior</td>
<td>$1,987,500</td>
<td><a href="https://www.belleproperty.com/bondijunction" target="_blank">Belle Property Bondi Junction</a></td>
</tr>
<tr>
<td>10/2A Darling Point Road Darling Point</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>106/12 Macleay Street Potts Point</td>
<td>Passed In (VB)</td>
<td>$1,350,000</td>
<td><a href="https://www.belleproperty.com/pottspoint" target="_blank">Belle Property Potts Point</a></td>
</tr>
<tr>
<td>6/118 Curlewis Street Bondi Beach</td>
<td>Sold Prior</td>
<td>$590,000</td>
<td><a href="https://www.belleproperty.com/bondijunction" target="_blank">Belle Property Bondi Junction</a></td>
</tr>
<tr>
<td>693A Old South Head Road Vaucluse</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>3/45 Birriga Road Bellevue Hill</td>
<td>Passed In</td>
<td>$950,000</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>6/257-261 Carrington Road Coogee</td>
<td>Sold Prior</td>
<td>undisclosed</td>
<td><a href="https://www.mybhr.com/" target="_blank">BHR Estate Agents</a></td>
</tr>
<tr>
<td>1 Judge Street Randwick</td>
<td>Sold</td>
<td>$1,375,000</td>
<td><a href="https://www.goodyer.com.au/" target="_blank">Goodyer Real Estate</a></td>
</tr>
<tr>
<td>19 Olphert Avenue Vaucluse</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.rhdb.com.au/" target="_blank">Raine &amp; Horne Double Bay</a></td>
</tr>
<tr>
<td>4/42 Bayswater Road Rushcutters Bay</td>
<td>Sold</td>
<td>$445,000</td>
<td><a href="https://www.enr.com.au/" target="_blank">Eastern Network Realty</a></td>
</tr>
<tr>
<td>2/51 Wolseley Road Point Piper</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ballardproperty.com.au/" target="_blank">Ballard Property</a></td>
</tr>
<tr>
<td>50 Shackel Avenue Clovelly</td>
<td>Sold</td>
<td>$2,060,000</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>19 Broughton Street Paddington</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.1stcity.com.au/" target="_blank">1st City Hasemer + Caldwell-Eyles</a></td>
</tr>
<tr>
<td>301/1 Hollywood Avenue Bondi Junction</td>
<td>Sold</td>
<td>$1,150,000</td>
<td><a href="https://www.belleproperty.com/pottspoint" target="_blank">Belle Property Potts Point</a></td>
</tr>
<tr>
<td>8/28 Oxford Street Woollahra</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>42 Hopetoun Street Paddington</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.bradfieldcleary.com.au/" target="_blank">BradfieldCleary</a></td>
</tr>
<tr>
<td>12/130-138 Avoca Street Randwick</td>
<td>Postponed</td>
<td>-</td>
<td><a href="https://www.mint360property.com.au/" target="_blank">Mint360property</a></td>
</tr>
<tr>
<td>303/281 Elizabeth Street Sydney</td>
<td>Sold Prior</td>
<td>$975,000</td>
<td><a href="https://www.wilsonproperty.com.au/" target="_blank">Wilson Property Agents</a></td>
</tr>
<tr>
<td>1/1 Ocean Street Woollahra</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.cooleyauctions.com.au/www.ppdre.com.au" target="_blank">Phillips Pantzer Donnelley</a></td>
</tr>
<tr>
<td>2 Forbes Street Paddington</td>
<td>Sold</td>
<td>$1,250,000</td>
<td><a href="https://www.charlesstuart.com.au/" target="_blank">Charles &amp; Stuart</a></td>
</tr>
<tr>
<td>13/366 Edgecliff Road Woollahra</td>
<td>Sold Prior</td>
<td>$1,225,500</td>
<td><a href="https://www.ljhooker.com.au/doublebay" target="_blank">LJ Hooker Double Bay</a></td>
</tr>
<tr>
<td>271A Old South Head Road Bondi Beach</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>2 Wallaroy Crescent Woollahra</td>
<td>Passed In (VB)</td>
<td>$5,300,000</td>
<td><a href="https://www.alisoncoopes.com/" target="_blank">Agency by Alison Coopes</a></td>
</tr>
<tr>
<td>8/20 Abbott Street Coogee</td>
<td>Sold Prior</td>
<td>$750,000</td>
<td><a href="https://www.mybhr.com/" target="_blank">BHR Estate Agents</a></td>
</tr>
<tr>
<td>3/56 Wilberforce Avenue Rose Bay</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
<tr>
<td>1 Cecil Road Rose Bay</td>
<td>Sold</td>
<td>undisclosed</td>
<td><a href="https://www.ljhooker.com.au/doublebay" target="_blank">LJ Hooker Double Bay</a></td>
</tr>
<tr>
<td>3/6 Pine Street Randwick</td>
<td>Sold Prior</td>
<td>undisclosed</td>
<td><a href="https://www.mybhr.com/" target="_blank">BHR Estate Agents</a></td>
</tr>
<tr>
<td>7/33 Kimberley Street Vaucluse</td>
<td>Withdrawn</td>
<td>-</td>
<td><a href="https://www.ljlevi.com.au/" target="_blank">LJ Levi Real Estate</a></td>
</tr>
</tbody>
</table>
</body></html>

Sydney's eastern suburb auction overload sees 42% clearance rate after 14 withdrawals

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Slated negative gearing and property tax changes are discussed almost every year, but it is increasingly likely that the upcoming May budget is one of the most likely to include changes to this policy.
Property Observer reported a year ago that <a href="/expert-insights/finance/government-not-contemplating-changes-to-negative-gearing-wayne-swan">former treasurer Wayne Swan was not contemplating any changes at the time</a>, despite much discussion about negative gearing alterations. It appears that current treasurer Joe Hockey, however, may have different ideas.
But who is going to get stung by changes, if there are any? Propell National Valuers shares their thoughts about how residential real estate may see its owners becoming stung with the implications.
They point to the following:
1) WHAT: The exemption of the family home from asset calculations when achieving the pension may come under scrutiny.
WHY: It can encourage retirees to be asset rich and income poor, encouraging them to own and live in a property that's bigger and more expensive than they need. This will become even more pronounced if the <a href="/expert-insights/joe-hockey-flags-plans-to-raise-retirement-age">extra five years in the workforce, as suggested by Joe Hockey, is brought in</a>.
THE IMPACT: Retirees with properties above the median price may look to then sell these properties, cash out and downsize. This would be a one-off market impact that would soften prices in some sectors over the short-term, but would "likely be absorbed within a year," according to Propell.
2) WHAT: Taxation allowances of negative gearing could be abolished or curtailed.
WHY: The introduction in 1985 has seen tax revenue grow, from reducing personal income tax by $600 million originally to close to $4 billion, according to the Grattan Institute.
THE IMPACT: There would be enormous short-term political backlash. It would potentially result in the transfer of wealth from "one class of people to another and the losers have been first home buyers in particular", providing a benefit to our FHBs.
OTHER OPTIONS: Grandfathering negative gearing out, limiting it to new properties (both of which have been suggested on SBS), phasing it out or toughening the rules. The limitations of negative gearing to new properties has been suggested heavily in the media lately (citing off the record comments from different government departments). If you are an investor using negative gearing to offset your loss, then there is a chance here that you will find yourself facing a greater shortfall.
However, "If the system is not changed this year, then property investors can probably relax in the knowledge that it will become a permanent feature of the investment landscape," Propell suggests, noting that this year is the most likely in which it will happen.
We've previously taken it to the experts and <a href="/expert-insights/finance/should-negative-gearing-be-changed-the-experts-have-their-say">asked, 'Should negative gearing be changed?' Here are their opinions</a>.
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Who will get stung by negative gearing and tax changes?

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Many rely on rental investments for a low risk source of cash flow. But poor planning and bad decisions can turn your stable income stream into a financial sinkhole.
Whether you’re considering the purchase of an investment property or wondering why your rental is eating cash, avoiding these traps can minimise your costs and maximise your profits.
<ol>
<li>
Setting the rent too low or too high.  According to Terri Scheer Insurance executive manager Carolyn Parrella, before purchasing your investment property you should research extensively to determine the right rental price. “Setting the rent too high may result in limited interest from prospective tenants, leaving you out of pocket if the property remains empty for an extended period of time,” she said. “However, setting the rent too low may place you under financial pressure, limit your rental income and has the potential to attract unsuitable tenants. “Look on real estate websites and through newspaper classifieds to find listings with similar features to your property, as this will give you a guide on the rental market in that area. “If you appoint a property manager, they should be able to provide you with information on comparable properties and advise an appropriate rent for your own investment.” Remember, depending on your tenancy agreement, once tenants are signed onto the lease it may be a year before you can you change the rent. Take the time to do your research. 
</li>
<li>
Failing to monitor arrears “If a tenant falls behind in their rent, it can be a very long and costly process to resolve and could leave you considerably out of pocket,” said Parrella. “Diarise the dates that your tenant’s rental payments are due and check your bank account on those days. “If your tenant doesn’t pay on the due date, monitor your bank account on a daily basis. If they fall into arrears a breach notice should be sent for non-payment of rent,” she said. “The number of days in rental arrears before a termination notice can be sent, and the time between presenting the notice and requesting vacation varies around Australia, so it is important to be familiar with your local tenancy laws. “Regularly monitoring arrears and issuing tenants with appropriate notices promptly may help resolve issues sooner and mitigate any financial loss.” 
</li>
<li>
Attempting to self-manage a property.  Landlords may attempt to save some coin by self-managing their property, but many are often under resourced for the task and left losing money. “While it can be tempting to save a small percentage of rental income by self-managing your rental property, the benefits of appointing a property manager can far outweigh the costs,” said Parrella. “Property managers are able to conduct regular property inspections to identify maintenance issues, have systems in place to find and screen prospective tenants, and have access to databases that list tenants with a history of defaulting on rental payments, damaging property and eviction.  “If a dispute arises with a tenant, they are also familiar with the relevant legislation and can follow the correct procedures to help resolve the problem as quickly as possible.” If you don’t have the time, resources and experience to self-manage your property, a property manager is the best way to go. <a href="/news/how-to-choose-the-best-property-manager">Make sure you choose a good one</a>.  
</li>
<li>
Neglecting maintenance.  Don’t let the state of your property slip away from you – unfortunately, your rental isn't a case of “set it and forget it.” Parrella noted that neglecting maintenance issues could see you liable for injuries your tenants sustain on your property. “As a landlord, once you have been alerted to maintenance issues, it is your responsibility to act on these or authorise your property manager to do so as soon as possible,” she said. “If a maintenance issue arises and you are slow to fix it, you may be legally liable if your tenant injures themselves. It is also important to ensure that all maintenance is completed properly and to appropriate standards.” 
</li>
<li>
Inadequate insurance.  Make sure you are adequately protected against lapsed rental income, damage to your assets and legal liability.  “Specialised landlord insurance cover can protect investors from many of the risks associated with owning a rental property, provide peace of mind and ease a landlord’s concerns about receiving regular rental payments if their tenant damages the property or absconds,” said Parrella. “Standard building and contents insurance policies usually don’t cover landlords for these risks. “Landlord insurance can cover property owners for malicious damage by tenants, accidental damage, legal liability for occurrences on the property that cause death or bodily injury, and loss of rental income as a result of property damage or a tenant absconding. “Even the most careful tenant can damage a property, whether accidental or otherwise. “This can be extremely costly for the landlord in terms of repairs and the loss of rental income," she said. For more information on landlord's insurance, see our <a href="/expert-insights/what-insurance-policy-do-i-need-as-a-landlord">article on the topic here</a>. 
</li>
</ol>
 
 
For more real estate traps and tips visit <a href="https://realestatetraps.com.au/">realestatetraps.com.au</a>
 
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jonathanchancellor-7SQnKwU6yx

Landlords beware: five common financial traps

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The Real Estate Institute of New South Wales, after a two year absence and intense lobbying, has welcomed the recommencement of tenancy cases being heard in Parramatta.
Announced on Friday, Attorney General Greg Smith said that the area would once again host regular sittings, this time of the new super tribunal - the New South Wales Civil and Administrative Tribunal, more commonly referred to as NCAT.
This will happen from 30 June 2014, and will see NCAT sit in Parramatta three days each week as a service for tenants and landlords.
This has been welcomed by the president of the REINSW, Malcolm Gunning, who said that it was needed for Sydney's west. Estimations are currently that up to 40 issues would be heard per day in Parramatta.
“We were very concerned when old Consumer, Trader and Tenancy Tribunal (CTTT) stopped operating in Parramatta in early 2012," said Gunning.
“Resolving disputes in Parramatta is a win for everyone in the property industry, especially landlords and tenants who will no longer face the costs and time restraints of having to travel to the Sydney or Penrith Register to have their case heard."
“Our efforts over the last two years to highlight the importance of tribunal hearings in Parramatta have been vindicated by this decision,” he said.
NCAT is the replacement to the CTTT system, that is said to simplify the "complex and bewildering" system, according to Smith.
“The NSW Civil and Administrative Tribunal (NCAT) will be a one-stop shop for almost all state tribunals, ranging from relatively small bodies such as the Chinese Medicine Tribunal through to the much larger Consumer, Trader &amp; Tenancy Tribunal,” said Smith.
It deals with tenancy disputes, customer complaints, applications for guardianship and a number of other issues.
After operating from 2 January 2014, NCAT conducted 28,000 hearings in 100 days.
Parramatta hearings will be held in a room at the Commonwealth Law Courts building.
“This is great news for Western Sydney and consolidates Parramatta’s position as the state’s largest legal hub outside of Sydney’s CBD," said Smith.
“It follows confirmation that the Court of Criminal Appeal will sit in Parramatta for two weeks in July and August, with the Chief Justice of NSW Tom Bathurst to be among the judges presiding over the hearings.”
Regular Supreme Court sittings may also be a possibility, with Chief Justice Bathurst examining this in the future.
“While the old Consumer, Trader and Tenancy Tribunal sat in Parramatta until early 2012, many of the tribunals that have joined NCAT have never conducted regular hearings in Sydney’s west,” said Smith.
“NCAT will provide the people of Western Sydney with quick and cost effective access to justice.
“Tribunal proceedings are typically less formal than a traditional court hearing and often achieve earlier resolutions.”
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REINSW lobbying pays off, tenancy cases to again be heard in Parramatta

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It sounds unpalatable, and certainly no one would wish for it, however if a tenant dies in your rental property, there are a number of implications that you should be prepared for.
While landlord insurance can cover you in the event of a tenant's death, different policies offer varying levels of cover, explains EBM Insurance Brokers' RentCover division general manager, Sharon Fox-Slater.
“The financial costs vary depending on the situation. There can be direct costs, in terms of lost rent and clean-ups, and indirect costs if a property is slower to re-lease because of the associated stigma. Most landlord insurance provides some cover if a tenant dies, although the extent varies depending on your insurer," Fox-Slater explained.
She cites the example of a pay out they made to one investor, in the tragic event of a murder suicide in Melbourne, where a $50,000 repair bill and further $22,000 of lost rent over a 10-month period were funded by ther policy.
New carpet, tiling and repainting was required. Other claims included a $17,000 loss of rent over 11 months due to a tenant in Perth's passing and the real estate agent's difficulty tracking down next of kin to recover their goods.
Another case mentioned by Fox-Slater included a Melbourne tenant who committed suicide and had no next of kin. In this case, the State Trustee becomes responsible and the landlord was unable to access the premises until the possessions were auctioned and a funeral had been held. The lost rent paid out in this case was $11,000.
Frequently, for tenants living alone, the landlord or the property manager can be the person making the discovery of a death, when looking to find out why rent has not been paid.
“Dealing with a family that is grieving can make negotiations around issues like clearing out possessions quite difficult. However, many property investors aren’t in a position where they can afford to lose money indefinitely," she said.
10 tips to bear in mind in the event that a death may occur:
<ol>
<li>Be tactful, sensitive and compassionate in all dealings with the tenant’s family and friends. 
</li>
<li>Contact the next of kin and pay your respects. 
</li>
<li>Ask the next of kin who they would like you to deal with regarding the property. 
</li>
<li>Contact your insurer to ask about your cover and what paperwork is required to make a claim, for example a death certificate or published funeral notice. 
</li>
<li>If police are involved, liaise with the officer in charge of the investigation as to when access can be expected. 
</li>
<li>Organise a meeting with the person nominated by the next of kin about plans for vacating the property. Approach the conversation tactfully. 
</li>
<li>Offer the person contacts for firms who might be able to help pack, sort and store possessions until the family is ready to deal with them. 
</li>
<li>Be sensitive about the timing of any open for inspections or other contact – being mindful of events such as the funeral. 
</li>
<li>When the property is vacated, clean it, using specialist assistance if necessary, and re-advertise it for lease. 
</li>
<li>Keep all receipts and records to assist in your landlord insurance claim.</li>
</ol>
Source: RentCover
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Don't fear the reaper: 10 things to do if your tenant dies

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The Collins Street gallery of photographer Ken Duncan will close at the end of this month, a year and a half after <a href="/expert-insights/investing/photographer-ken-duncan-rents-gallery-space-on-melbournes-collins-street">the site was secured</a>.
The move marks the end of the gallery’s physical presence in Victoria, after 17 years and three different locations in the state. The nature photographer also previously had a gallery in Melbourne's Docklands. In a public release, Duncan wrote that waiting four years for the repair of the Southern Cross Observation Wheel “hit [the gallery] very hard.”
Known for his panoramic landscape photography, Ken and his wife, managing director Pam Duncan, will focus on consolidating their main gallery on the New South Wales Central Coast. Last year, the <a href="/news/landscape-photographer-ken-duncan-lists-matcham-house-and-former-gallery">Duncans sold their Matcham house and gallery</a> property (pictured below) for $1.23 million.
<img src="/images/stories/2013/09/27/matcham-sept-27-one.jpg" alt="matcham-sept-27-one">
The Ken Duncan gallery will be open on the ground floor of 500 Collins Street until the end of the month. Ken Duncan signed a five year lease with CBRE in October 2012, reportedly paying about $1000 per square metre. Savills is currently advertising a half-sized ground level gallery adjacent to the Ken Duncan gallery in 500 Collins Street for $1,400 per square metre. 
The mixed retail and office building was purchased by the Kador Group in 2002 and underwent significant upgrades to improve sustainability, becoming Australia’s first refurbishment project to receive a five star Green Star design rating. 
Office space in the building is currently available to rent at $390 to $440 per square metre. 
Ken Duncan received a Medal of the Order of Australia from the federal government for his services to landscape photography, publishing and the arts.
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jrichardson-uRX5hFdKfN

Ken Duncan to close Melbourne gallery at end of April

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In today’s market what makes the great foundations for an exceptional residential development? 
While there are an array of possible ways to benchmark and answer this question that may well satisfy planners, developers, marketers and financiers, we are also faced with another question, "what makes a great project for the buyers".
Buyers face lots of choices and while they can easily access mountains of research and commentary, I still think that when we take a project to market we still need to answer this question. Easily. Even more so when we are talking about selling off the plan, where a focus on the elements of a project with great foundations, is a sound way to approach the market.  
Market conditions are always changing; today’s projects that sell-out in just hours, days or a few weeks, might not do so under tomorrow’s market circumstances. 
There are some key aspects to regard as our key project fundamentals, many of which are interconnected. 
Always from both the developers and buyers viewpoint are: Infill locations, the use of existing infrastructure, environmental credentials and sustainability, access to open space, design, equally the overall and apartment design, communications, the appeal of mixed use developments, the liveability of the development and finally sales appeal.
While I am not suggesting this is an exhaustive list, I do think that by looking at each element, we will then start to understand how they help form the foundation of great projects and why buyers frequently use such key attributes to inform their purchase.
Infill locations attract both positive and negative feedback, but these are locations are essential to helping plan any major city and they are the mainstay of most medium density development and (once the dust settles) are generally seen as a more desirable way to plan and deliver new projects. They not only create new homes but they usually are very good at connecting new neighbourhoods and so they are very appealing to buyers.
The use of existing infrastructure is naturally linked with the appetite for infill locations and local infrastructure will include rail links, schools, shops and parks, in fact any easy to access facilities. Buyers are quick to identify the importance of these facilities and it has to be acknowledged that in some locations new developments add user pressure, which is an area that both government and developers always need to plan and be mindful of. 
However the value gained from the use of existing infrastructure and where necessary improving facilities is easily illustrated because the costs can be massive. Some recent figures I saw from the USA make the point. There a modest extension to street curbing was quoted at US$78,000, a new set of traffic lights US$280,000 while a mile of new subway would cost US$1 billion, so the use of existing facilities via infill locations looks like an obvious choice.
Environmental credentials is a major topic, in some cases it’s a marketing must have and is made up of many varied parts from the familiar, like the use of solar and water recycling to the less common such as on-site energy generation. We also need to include the provision of new green space and access to open space, including passive open space like golf courses. However again here we can have a clash between the needs of already established communities with the desires of new residents, but for the developer this can be a great foundation element.
Design is another constantly evolving foundation element; it’s very topical and one of the items that is close to the heart of any buyer. Design covers a wide strategy from the masterplan of a development and its impact on the local environment into areas like apartment size, clever features, cross ventilation, variety and innovation, attention to detail; down to such everyday items like the number and size of parking bays and storage.
Communications is both a simple and complex area. Every buyer today expects to open the door of their new apartment, walk in, switch on their PC, laptop, tablet or whatever device they have and be instantly connect to the world.
Mixed use developments on the development star ratings offer some challenges, usually at the planning level, but they also offer great opportunity and generally they help create a more connected local community because they bring new variety that can be used by everyone, not just the new residents. In creating a dynamic mixed-use development variety is important because it can be exciting and a wonderful ongoing benefit to the entire community.
Liveability really brings together all of the aspects already outlined. There is no single pointer, it’s a combination of cultural, economic and environmental issues, and it also includes diversity and population demographics as well as civic and planning values. But it might also be seen as a sense of place, in reality a place where people want to live.
Sales appeal is the final point but from a marketing perspective, it’s the litmus test. Any project needs to be a commercial winner and the aim is to inform the marketing message, but to also help buyers in their own minds answer what really makes a great development.
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pchittenden-eLqUUC8TWW

The foundations of a great residential project

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With generally positive labour market figures for March 2014, AMP Capital has renewed its prediction of a rate hike in September or October, virtually ruling out the possibility of another rate cut this year.
According to the latest ABS Labour Force figures, March saw seasonally adjusted employment rise by 18,100 people, ahead of market expectations of a 2,500 person gain.
Following a 48,200 gain in February, employment is now up 1.1% from a year ago.
Unemployment fell in March, now at 5.8% from an upwardly revised figure of 6.1% in February. However, the decrease can largely be explained by a fall in the participation rate, which AMP Capital’s chief economist and head of investment strategy Shane Oliver also believed factored into an “odd slump” in Western Australia’s unemployment figure which fell from 5.9% to 4.9% for the month.
Full time jobs were down 22,000 for the month across Australia, after an 80,000 job gain in February.
According to Oliver, the “messy details” of the ABS’s latest report and the tendency for monthly volatility in labour data highlights the importance of trend data, which shows monthly jobs growth of about 14,000, with unemployment rising slowly.
Given the available data, AMP considers Australia’s job market better off than media reports suggest, though not as strong as implied in February and January’s data. Forward looking employment indicators such as job vacancies, job ads and hiring intentions as detailed in the NAB Business Survey (see below) suggest gradual improvements in the jobs market. 
<img src="/images/2014/04/15/chart%20april%2015%20one.png" alt="">
While AMP expects that the rising value of the Australian dollar is likely to become a cause for concern for the Reserve Bank, the investment house predicts that the RBA will “renew jawboning efforts” to suppress the dollar’s international value in the coming months, rather than adjusting interest rates. The Australian dollar sits at US$0.94 at the time of writing.
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