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

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Last week was the busiest week so far this year for capital city auctions, with 3,009 properties taken to auction, increasing from 2,466 over the previous week.
Although auction volumes increased across the capital cities last week, the same cannot be said for the auction clearance rate, which fell slightly over the week, down from a final clearance rate of 69.4% the previous week to a preliminary 68.8%. It is expected that the next two weeks will be busy across each of the major capital city auction markets in preparation for a slow down around Easter and Anzac Day, with two consecutive long weekends in a row.
To put the ‘slow down’ into perspective, over Easter weekend last year, there were only 547 capital city auctions, down from 2,649 the previous week, and the clearance rate fell from 64.1% the week prior to 58.7% over the Easter weekend.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Capital-city1.jpg" target="_blank"><img class="alignnone size-full wp-image-3059" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Capital-city1.jpg" alt="20140330 Capital city" width="994" height="730"></a>
So far this year, Sydney has consistently been the strongest performing auction market in terms of clearance rates. This week was no different, with the preliminary auction clearance rate for Sydney recorded at 79.5%, up from 76.1% over the previous week. There were 1,151 auctions held in Sydney this week, the third time this year where auction volumes have been above 1,000 across the city. At the end of last year, Sydney was consistently recording 1,000 plus auctions on a week-to-week basis throughout November and leading up to Christmas.
With the RP Data-Rismark end of month figures out tomorrow, it is fair to say that it has been a strong month across the Sydney property market.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Sydney.jpg" target="_blank"><img class="alignnone size-full wp-image-3056" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Sydney.jpg" alt="20140330 Sydney" width="989" height="648"></a>
A preliminary clearance rate of 65.9% was recorded across Melbourne this weekend from 1,121 auction results compared to 69.4% recorded last weekend. This is the lowest clearance rate this year, but is consistent with the middle of December last year when there were 1,616 auctions.
Last weekend’s result reflects the high volumes where this month, there has been an average of around 1,060 auctions per week. This is a record high for auction volumes in March and has provided buyers with a very high level of choice. For this year, there has been five weeks so far where more than 1,000 properties have been taken to auction, compared to just two weeks at the same time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Melbourne.jpg" target="_blank"><img class="alignnone size-full wp-image-3055" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Melbourne.jpg" alt="20140330 Melbourne" width="994" height="654"></a>
Brisbane recorded a rise in auction clearance rates this week, with the preliminary clearance recorded at 45.5%, compared to 37.3% over the previous week. The number of residential Brisbane properties taken to auction last week was much higher than the previous week and much higher than anything we have seen so far this year. There were 237 auctions across Brisbane last week, compared to 130 the previous week. So far this year, the average number of properties being taken to auction in Brisbane is around 16% higher than in 2013.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Brisbane.jpg" target="_blank"><img class="alignnone size-full wp-image-3053" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Brisbane.jpg" alt="20140330 Brisbane" width="979" height="647"></a>
There were 107 Adelaide properties taken to auction last week, with a preliminary auction clearance rate of 62.9%. Over the previous week, Adelaide’s final auction clearance rate was recorded at 58.8%, with 80 properties taken to auction over the week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Adelaide.jpg" target="_blank"><img class="alignnone size-full wp-image-3052" src="https://blog.rpdata.com/wp-content/uploads/2014/03/20140330-Adelaide.jpg" alt="20140330 Adelaide" width="996" height="661"></a>
For the smaller auction markets of Perth, Hobart, Canberra and Darwin, results were mixed over the week. There were 54 auctions held in Perth, with a preliminary clearance rate of 45.0%, 11 auctions held across Hobart with a clearance rate of 25%, 50 Canberra auction with a clearance rate of 60.0% and finally, Darwin had a preliminary clearance rate of 40%, with just nine auctions held across the city.
RP Data is currently tracking 2,491 capital city properties going to auction for the coming week.
*Melbourne auction commentary provided by Robert Larocca, RP Data’s Victorian housing market specialist
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Clearance rates slip amid busiest week of the year: RP Data's national auction market wrap

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GUEST OBSERVATION
Only 53% of couples and 22% of single people are on track to achieve a comfortable level of retirement income, according to an in-depth study of the adequacy of retirement savings.
The outcome of a collaboration between researchers at the University of Melbourne and Towers Watson, the <a href="https://www.melbourneinstitute.com/downloads/working_paper_series/wp2014n05.pdf" target="_blank">study</a> has found a significant number of Australians are not likely to achieve adequate retirement incomes, even when all sources of savings are considered.
The research sought to address the considerable uncertainty among policy makers and the broader community about the extent and nature of retirement savings deficiencies in Australia. To do so, we developed a set of metrics indicating the adequacy of retirement savings and applied those metrics to a large representative sample of the Australian population.
The clear finding is that most Australians are still not on track towards reaching a comfortable income during retirement, and will continue to draw a large part of retirement income from the age pension. The implication is that, despite superannuation reforms dating back over 20 years, the problem of inadequate retirement savings remains a significant public policy issue for Australia.
An important innovation of our study is that the metrics we developed take into account not only superannuation holdings (and projected growth in superannuation holdings through investment returns and future contributions) and the projected age pension entitlement, but also a variety of other household assets that could be used to fund retirement, including various financial assets and property.
Using this information, we are able to forecast a person’s expected income throughout retirement. We then compare this income to a “target” income, which is provided by the <a href="https://www.superannuation.asn.au/resources/retirement-standard" target="_blank">Association of Superannuation Funds in Australia (ASFA) Retirement Standard</a> for a “comfortable” lifestyle. The ASFA standard for a comfortable lifestyle is a widely used benchmark, and specifies a minimum income of $57,665 for couples and $42,158 for single people.
The ASFA benchmarks are very close to both current average income levels of retirees in Australia and the income levels that pre-retirement Australians on average believe they will need for a satisfactory lifestyle in retirement. While this concordance may seem reassuring, our findings for the projected retirement incomes of pre-retirement Australians were not.
We projected retirement income levels for a large, representative sample of Australians aged 40 to 64 ­– drawn from the nationally representative <a href="https://www.melbourneinstitute.com/hilda/" target="_blank">Household, Income and Labour Dynamics in Australia (HILDA) Survey</a> – and compared our projections to the income required to sustain a comfortable lifestyle.
Based on our calculations, only 53% of couples and 22% of singles are on track to achieve a comfortable level of retirement income.
Our study also shows the relative importance of different sources of retirement income. If we ignore all sources of retirement income other than superannuation, only 15% of couples and 5% of singles are projected to achieve the target. Indeed, applying the <a href="https://www.oecd-ilibrary.org/sites/factbook-2013-en/03/02/02/index;jsessionid=1kd80w28k8as0.x-oecd-live-01?contentType=/ns/Chapter,/ns/StatisticalPublication&amp;amp;itemId=/content/chapter/factbook-2013-26-en&amp;amp;containerItemId=/content/serial/18147364&amp;amp;accessItemIds=&amp;amp;mimeType=text/html" target="_blank">OECD poverty benchmark</a> of half median income, most retirees would be living in poverty.
Factoring in the age pension improves projected retirement incomes for many people, but still only 32% of couples and 11% of singles are on track to have a comfortable retirement income.
Our calculations have several implications. First, they show that, for most people, superannuation is not sufficient to fund a comfortable retirement, even if they have contributed to superannuation for most of their working lives.
Second, it is important to take into account all potential sources of retirement income, including non-superannuation assets, when computing the adequacy of retirement savings. Omitting any of these sources will likely lead to substantial under-estimation of adequacy.
Third, single people are particularly under-prepared for retirement, being three times more likely than couples to have severely inadequate projected retirement incomes.
Fourth, there is a gap between expectations about the importance of the different sources of retirement income and the likely reality. <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features50March%202009">Data from the Australian Bureau of Statistics</a> show that over half of men and two-fifths of women expect superannuation to be the main source of retirement income. However, our projections show that the age pension will provide 61% of the retirement income of single people, and 39% of the retirement income of couples. Moreover, 96% of single people and 89% of couples aged 40 to 64 today are expected to receive at least a partial age pension at some stage during retirement.
Our analyses show that most people need to think ahead to their financial situation in retirement and, if possible, make some changes – the sooner, the better. The first step is to find out whether your savings are likely to be adequate – and you can now do this easily on the <a href="https://www.moneysmart.gov.au/tools-and-resources/calculators-and-tools/retirement-planner" target="_blank">ASIC MoneySmart web site</a>.
The site offers a calculator based on a simplified version of the algorithm we used in our study. It takes less than 10 minutes to enter the required information and obtain an estimate of the adequacy of your retirement savings.
Knowing now whether you need to save more towards your retirement is an essential first step towards a retirement in which you don’t have to fear running out of money.
Roger Wilkins is principal research fellow and deputy director (Research), HILDA Survey, Melbourne Institute of Applied Economic and Social Research at University of Melbourne.
Carsten Murawski is senior lecturer in the Department of Finance and co-head of the Decision Neuroscience Lab at University of Melbourne.
<a href="https://theconversation.com/institutions/university-of-melbourne"></a>
(Professor Kevin Davis contributed to this study, which began prior to his appointment as a panel member of the Financial System Inquiry.)
This article first appeared on <a href="https://theconversation.com/the-majority-of-australians-are-not-saving-enough-for-retirement-24957">The Conversation</a>.
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jake-cSmGT7VXVf

Retirement prospects not-so-super for many Australians

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Australia’s automotive sector has been tipped to overcome the closure of its manufacturing division and emerge stronger than ever, according to an industry expert.
A new report from Auto Skills Australia found small businesses were struggling to survive due to financial pressures. However, the ones that survive will be better, more capable businesses.
Small businesses with less than 20 staff account for 94% of the sector, and sole proprietors and partnerships have fared worst.
But chief executive of Auto Skills Australia Geoff Gwilym told SmartCompany it’s important people remember the industry is still growing, and there will continue to be work for the sector.
“The industry is growing on average by 400,000 vehicles on the road each year and the industry needs to be capable of servicing and maintaining this growing fleet,” he says.
“There won’t be a collapse of the industry. It will be leaner, but it will also be more progressive and better positioned for the future of the sector. We foresee a lean, capable and modern industry going forward.”
While tens of thousands of jobs are expected to be lost as a result of the closure of Ford, Holden and Toyota in Australia by 2017, in 2012/13 net employment actually increased in the automotive sector.
Over the entire industry there were an additional 4,132 jobs added, as car repair and wholesale retailers performed well.
The sector is also suffering from a skills shortage of 21,175 workers across key areas of the car industry.
Gwilym says the auto manufacturing segment of the sector only comprises 13% of the industry and workers who lose their jobs as a result of Ford, <a href="https://www.smartcompany.com.au/finance/cashflow/34848-if-holden-leaves-toyota-follows-the-disastrous-impact-on-small-business" target="_blank">Holden and Toyota manufacturing plants</a> closing will be able to be absorbed within the sector.
“At the moment growth in the non-manufacturing side of the industry is outpacing any decline,” he says.
“It depends where they are in the age cycle of their employment, but a number of young workers will be able to transition to other areas of the industry. Workers who are getting on in age will probably look at retirement and others will transition directly into auto-service businesses.”
The industry’s contribution to Australia’s gross domestic product remained stable at 2.6%, equating to $38.4 billion.
In the next 12 months Auto Skills Australia found most businesses were expecting mild growth, as trading conditions have been variable.
The report found subdued levels of consumer expenditure on vehicle repairs, servicing and maintenance had already resulted in considerable downsizing and leaner operations for many companies.
Gwilym says the small businesses which survive the tough economic times will have upgraded their workshops and facilities and be “quite progressive in the industry”.
“There already are many innovative small businesses in this respect and it’s the ones which don’t keep up with investment in new equipment and up-skilling requirements which will fall by the wayside,” he says.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Automotive industry tipped to emerge “lean and capable” following auto manufacturing exit

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Near record numbers of auctions will take place over the next two weekends as sellers fight to lock in a sale in a <a href="https://www.smartcompany.com.au/finance/investment/41214-property-set-to-heat-up-prior-to-easter-with-20-homes-over-2-million-sold-in-sydney" target="_blank">pre-Easter rush</a>.
Australian Property Monitors senior economist Andrew Wilson says next weekend could see 900 to 1,000 properties listed for auction in Sydney, before an Easter weekend lull.
Over the weekend, clearance rates in Sydney were 83.3%, based on 814 listings, 393 auctions and 345 sold. The median price in Sydney for houses sold at auction was $1,038,000, while the median price for units was $720,000.
The most expensive property sold at auction in Sydney was a four bedroom house in Clovelly (pictured above), which sold for $3.8 million. The most affordable was a two bedroom unit in Brighton-Le-Sands which sold at auction for $405,000.
“In Sydney the prestige market was strong, particularly in the lower North Shore… I’m not sure we’ll see the same in the next two weeks,” he says.
“The clearance rates tend to fall down when there are high numbers of listings.”
In Melbourne over the weekend the auction clearance rate was 71.5%, with 1,185 properties listed, 859 auctions and 616 properties sold. The median price for houses was $818,000, while the median price for units was $495,000.
The most expensive property in Melbourne was a six bedroom house in Hawthorn East, which sold for $3.24 million. The most affordable was a one bedroom unit in Carlton that went for $175,000.
Wilson says it was the lowest auction clearance for Melbourne this year, aside from the Labour Day long weekend.
“It is a sign of the significant numbers of properties coming through on auctions, with buyers spoilt for choice,” he says.
Wilson says Melbourne’s outer Eastern suburbs are continuing to hold up the market, with the strongest clearance rates.
In Adelaide, AMP reported that there were 58 properties listed, with 34 auctions and 23 sold. In Brisbane, 99 were listed with 13 auctions and seven sold.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
APM's 29 March weekend auction results
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Pre-Easter auctions rush means falling clearance rates and buyers “spoilt for choice”

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You’ve done your research, your due diligence and you’ve found the property you want to buy. Now what? It’s time to submit an offer on the property. This can be a nerve wracking part of the process as you wait to see how much competition you face and just how much the vendor is likely to sell for. However, in most states and territories, it’s a relatively simple process.
If you’re interested in negotiation, you may want to read our guide: <a href="/expert-insights/how-to-negotiate-the-property-price-you-want">How to negotiate the property price you want</a>.
Offers can be as informal as a verbal price suggestion, or as formal as a signed contract with conditions and details attached. The approach is, largely, up to you. In Queensland, written offers are pushed for and are most common. Written offers must be presented to the seller unless it is below a pre-determined value and can be useful starting points for sellers and buyers. Similarly, they offer a degree of formality beyond a verbal agreement, which cannot be relied upon.
An expression of interest may see you required to pay an initial deposit, as this proves that your offer is serious. This doesn’t, however, ensure you have the property nor that it will even get taken down from being listed. The deposit will be refunded if you don’t enter a contract to buy the home.
When an offer is accepted, you need to be ready to sign the contract of sale and go through the buying process. Before this time there is the risk of being gazumped by another buyer - that is when the vendor accepts another offer even with a verbal agreement to buy the home.
Unconditional and conditional offers
Offers can be presented similarly to the below, which is an example of a conditional offer:
We would like to make a formal offer of $X to the vendor for the property [address]. This is subject to the following conditions.
[Legal review of the contract, property valuation, inspections, finance similar]
Potential time limit for the offer.
Unconditional offers can also be made that don’t provide the ability for you to leave the offer should termite damage or similar be found. These can be enticing for vendors, and you will be legally required to go through with the process. You may be more familiar with these a auction. Buyers are most likely to add conditions around inspections and their own financing.
You can offer multiple offers at any one time – perhaps one for a lower price unconditional, and one for a higher price requesting access.
Where to now? Here observer <a href="/expert-insights/investing/the-eight-steps-a-property-buyer-takes-after-an-offer-is-accepted">Cameron McEvoy explains the eight steps that every buyer takes after submitting an offer</a>.
Recommended step: Get a copy of the sale contract from the real estate agent prior to time and have it examined by your conveyancer.
RECOMMENDED READING:
<a href="/news/how-to-get-your-low-offer-accepted">How to get your low offer accepted</a>
<a href="/expert-insights/investing/be-cautious-when-making-your-first-offer-on-a-property-or-negotiations-could-end-before-they-begin">Caution you need to take when making an offer</a>
<a href="/expert-insights/buying/five-questions-to-ask-before-making-an-offer-on-property">Five questions to ask before making that offer</a>
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How to: Make an offer on a property

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AMP Capital and Mirvac have lodged plans for its an upmarket apartment development on the former Coca-Cola headquarters site in Sydney’s Circular Quay.
The $100 million redevelopment, which will have an estimated $300 million value on conclusion, is located at 71-79 Macquarie Street, the last of the 1960s office blocks on the dress circle location. It was built by WD &amp; HO Wills who purchased the site in 1961.
Preliminary approval at concept stage was given in 2012 by the NSW government. The building will provide 109 residential/serviced apartments, six levels of basement car parking and new retail tenancies fronting East Circular Quay, Macquarie Street and the through site link.
With close proximity to Circular Quay, and the Cahill Expressway, Tzannes Architects won the design competition featuring four other leading Australian firms, FJMT; Bates Smart; HASSELL and Durbach Block Jaggers. 
The Alex Tzannes architect plans have only just gone on public exhibition, but <a href="https://71macquarie.mirvac.com" target="_blank">prospective buyer registration</a> is also now being sought by Mirvac in what is anticipated to be a popular rare opportunity to buy on the dress circle strip. There will be 47 luxury residences on the upper 10 levels of 71 Macquarie Street. The entrance level for the 62 serviced apartments and residences will be on level three.
There will be 65 one bedroom apartments, 17 two bedrooms, 25 three bedrooms and two penthouses. The total serviced apartment space allocation is 4475 square metres with 6487 square metre space devoted to the private prestige apartments.
AMP Capital has previously advised they see the million project as set to "revitalise an important part of Circular Quay”.
The development would “realise the original vision for the East Circular Quay precinct by completing the colonnade that extends along East Circular Quay from the Opera House”.
<img src="/images/2014/03/31/sydney-march-31-one.jpg" alt="">
Excavation of the site could reveal traces of Billy Blue's hut, according to the Godden Mackay Logan heritage report. He was the Jamaican-born ex-convict who was Governor Macquarie's watchman. The Stephenson and Turner-designed office block was built between 1964 and 1966 on former 1860s wool stores which were later used as NSW Lancers light horse squadron headquarters, garaging, and dance halls. 
<img src="/images/2014/03/31/sydney-march-31-two.jpg" alt="">
<a href="/news/as-residential-reigns-amp-finalising-east-circular-quay-office-block-redevelopment">It was two years ago when </a><a href="/news/as-residential-reigns-amp-finalising-east-circular-quay-office-block-redevelopment">the NSW government gave its provisional go-ahead</a> for the demolition of the former Coca-Cola headquarters, at 71-79 Macquarie Street in what will be the final phase of the East Circular Quay redevelopment. 
The tenants Coca-Cola Amatil moved from 71 Macquarie Street to North Sydney four years ago.
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jchancellor-FAypfDUnLy

Buyers sought as AMP Capital-Mirvac Circular Quay Tzannes-design plans lodged

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Online real estate listing website realestate.com.au has revealed the top 10 suburbs in Australia for viewers per listing. According to the quarterly Top Sellers’ Markets report, New South Wales takes out four of the top 10 suburbs, with Victoria close behind with three of the most viewed suburbs.
The top spot this quarter goes to NSW’s Balgowlah, with the suburb’s sellers seeing more viewers per listing than anywhere else in the country. According to John Cunningham of Cunningham’s Property in Balgowlah, the result is unsurprising.
“There has been a significant increase in demand for property in the Balgowlah area in the last few months. Open homes in the suburb are attracting twice the number of interested parties compared to last year and the average days-on-market for property is currently down to 16 days,” said Cunningham.
“It has always been a convenient and desirable location. There is a good mix of houses and apartments which makes it popular with both investors and owner/occupiers. With cafés, restaurants and fresh food markets nearby, it certainly offers buyers great lifestyle opportunities.”
According to realestate.com.au’s General Manager of Sales and Operations Arthur Charlaftis, Top Sellers’ Markets list is indicative of increased buyer interest in the suburb.
“The Top Sellers’ Markets looks at supply and demand in each suburb and ranks the suburbs accordingly. A position in this list suggests that it could be a good time for property owners in these areas to consider selling as there are a high number of buyers looking for property in that suburb,” he said.
Eight suburbs have made the national list for the first time.
<ol>
<li>
<a href="/news">Balgowah</a>, NSW: According to RPData, the median house price for Balgowah is currently $1,220,000, with units going for a median price of $705,750. <a href="https://www.realestate.com.au/property-house-nsw-balgowlah-116447799" target="_blank">This two bedroom home</a> at 4 Kitchener Street (pictured below) is on the market with $900,000 plus expectations. <img src="/images/2014/03/31/balgowah%20march%2031.jpg" alt=""> 
</li>
<li>
<a href="/news">Albert Park</a>, VIC: The highly sought after inner city Melbourne suburb has a median house price of $1,542,000. The home of the The Block: Fans v Faves currently has a been enjoying an exceptional high and medium density market, with median unit sales price of $2,375,000 for February, according to RPData. 
</li>
<li>
<a href="/news">Norwood</a>, SA: One of two South Australian suburbs on the top 10 list, Norwood is located four kilometres from Adelaide's city centre. Its median house sales price in February was $960,000, with a median unit price of $640,000. The suburb is currently offering <a href="https://www.realestate.com.au/property-house-sa-norwood-116015207" target="_blank">this impressive bluestone villa </a>at 33 Edward Street (pictured below).  <img src="/images/2014/03/31/norwood%20march%2031%20one.jpg" alt=""> 
</li>
<li>
<a href="/news">Frenchs Forest</a>, NSW: This northern Sydney suburb has a median house price of $1,05,000, and a median unit price of $875,000. It is the first time the Northern Beaches suburb has made realestate.com.au's list. Vendors are accepting offers over $850,000 for <a href="https://www.realestate.com.au/property-house-nsw-frenchs+forest-116508867" target="_blank">this bright three bedder</a> (pictured below) at 7 Newell Place. <img src="/images/2014/03/31/frenchs%20forest%20march%2031.jpg" alt=""> 
</li>
<li>
<a href="/news">Cherrybrook</a>, NSW: One of only two suburbs to have made the list from the previous quarter, demand for properties in Cherrybrook has seen an increase in buyer demand, jumping from ninth place to fifth. Last month, the suburb had a median house price of $976,000 and a median unit price of $645,000. 
</li>
<li>
<a href="/news">Brighton</a>, SA: The beachside suburb of Brighton makes the list for the first time. It has one of the lower median housing prices of suburbs on the list, at $660,000. The median unit price for Brighton is $355,000. 
</li>
<li>
<a href="/news">Fitzroy North</a>, VIC: The inner-northern suburb has seen a steep price increase in the past decade, with a current median house price of $1,240,000. <a href="https://www.realestate.com.au/property-house-vic-fitzroy+north-116454363" target="_blank">This semi-detached home</a> (pictured below) at 526 Rae Street is currently going for $720,000-$790,000.  <img src="/images/2014/03/31/fitzroy%20north%20march%2031.jpg" alt=""> 
</li>
<li>
<a href="/news">Holland Park</a>, QLD: Holland Park is Queensland's only suburb  to make the list. Eight kilometres from the Brisbane CBD, a high proportion of residences in the suburb are wooden post war Queenslanders, like <a href="https://www.realestate.com.au/property-house-qld-holland+park-116439127" target="_blank">this renovated five bedroom home</a> (pictured below) on Arnold Street. The median house price in the suburb is $510,000, while the median unit price is $345,000. <img src="/images/2014/03/31/holland%20park%20march%2031.jpg" alt=""> 
</li>
<li>
<a href="/news">Ormond</a>, Vic: The south-eastern Melbourne suburb of Ormond had a median house price of $765,000 and a median unit price of $632,500. It is the first time that Ormond has appeared on realestate.com.au's list. 
</li>
<li>
<a href="/news">Engadine</a>, NSW: Southern Sydney's Engadine rounds out the top 10 list. Demand in the suburb has increased sharply since 2009, when the median house price for the suburb was $480,000. The median house price is now $744,996, while the median unit price is $523,000. Vendors are expecting offers over $769,000 for this<a href="https://www.realestate.com.au/property-house-nsw-engadine-116504635" target="_blank"> five bedroom, three bathroom home</a> (pictured below) at 135 Thurlgona Road.  <img src="/images/2014/03/31/engadine%20march%2031.jpg" alt=""> 
</li>
</ol>
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jrichardson-uRX5hFdKfN

The top 10 most viewed suburbs: realestate.com.au

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By the end of the year borrowers will be facing higher interest rates and higher resulting costs, Finder.com.au is warning.
While a recently survey of economists and banking experts predicts the Reserve Bank will keep the cash rate on hold tomorrow, almost half of the 11 surveyed expect the rate to rise in the last quarter of the year.
Those who tipped an increase suggested that the rise might be on Melbourne Cup Day, with experts from Commonwealth Bank, Commsec, HSBC, ING Direct and St George Bank agreeing with a late-year increase forecast.
Money expert at Finder.com.au Michelle Hutchison, said investors should plan now.
“If the official cash rate does increase by the end of the year, it’s likely that we will see home loan interest rates start creeping up before then,” she said.
“So if you’re an existing borrower, it’s a good idea to review your budget and factor in higher costs now, before interest rates rise.”
Hutchison reminded those looking to buy to factor in a buffer for if interest rates do increase.
“It’s great to see that borrowers are confident during this time of stability and are taking advantage of low interest rates by jumping on the property ladder or refinancing their home loan. Despite the finder.com.au survey showing rates aren’t likely to move until at least the end of the year, now is the time to plan for a rate rise,” she said.
The recommended buffer to factor in is for two percentage points in upwards movements, or for a $300,000 loan – an extra $400 per month.
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Borrowers warned of interest rate hikes by late-2014

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Like many topics surrounding tax, depreciation discussions are interlaced with myth and truth. As properties get older, as do their contents, they depreciate in value.
While this doesn’t necessarily point to a drop in capital growth, it does match up well with wear and tear and age, and as such the ATO allows investors to claim a deduction on the building aspect, as well as the ‘plant and equipment’ within. A quick trick to determine plants and equipment is to imagine the property being picked up and shaken. If it falls off, then it is in this category.
Deductions equate to tax reductions for you, and can assist in reducing your holding costs legally.
However, there are four things you need to know about depreciation.
<ol>
<li>
It is an ‘on paper’ cost, but this doesn’t mean you shouldn’t take the cost seriously When claiming the deduction from the ATO for tax depreciation, you’ll find that while they’re calling it a ‘cost’ – nothing came from your pocket. This ‘on paper’ cost may not have yet cost you, but don’t consider it free money. There’s a reason that the ATO provides funds for depreciation – and that’s because at some point you’re likely required to replace the plants and equipment and undertake repairs. Many property managers recommend that investors actually use the depreciation guideline to get an understanding of when they’ll likely need to re-carpet, or replace appliances. Get a hold on the ATO’s ‘life’ expectation for what is installed and prepare yourself to spend this money to get your property back into good condition. 
</li>
<li>
You can claim depreciation benefits on things you throw out This is a little-known aspect of depreciation called ‘scrapping’. If renovating or altering a property, it’s likely you’ll throw some things out. If you decide to remove the carpet, or light fittings or any other aspect, keep records and provide them to a quantity surveyor. They should be able to add these into your depreciation schedule for a return from the tax office. Expect to receive a 100% deduction on the residual value of what has been thrown away. 
</li>
<li>
Older properties likely still have depreciable items While knowledge around depreciation is growing, there are still some who do not think older properties can achieve a substantial depreciation benefit. This is not true. If you have not been claiming your tax deduction, you can get your previous returns adjusted. Many quantity surveyors will not charge you if the amount they manage to claim you back doesn’t cover their bill. If you have a property that has been renovated in some way, or extended, even if you were not the person to undertake these improvements then you will find there are extra depreciation benefits here too. You may not even realize that something has been updated within the property, such as hidden items e.g. plumbing, re-wiring or bathrooms that are dated but newer than the property itself. 
</li>
<li>
There are two ways of calculating depreciation There are actually two ways to calculate depreciation. These are the following methods: Diminishing value Prime cost Investors can choose what suits them most. Diminishing value calculates the deduction as a percentage of the balance left to deduct, while the prime cost calculates a percentage of the cost for each year calculated. Essentially, diminishing value allows investors to access more in the first five to 10 years of ownership. If you are requiring more funds, or looking to sell in the short-term, then you might consider this method. However, prime cost provides a steady amount of depreciation year-in, year-out. This may suit those holding for longer or who prefer a fairly certain return each year.</li>
</ol>
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Depreciation: The four things you should know

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Eq. Tower is coming to Melbourne’s northern precinct and boasts karaoke facilities and a mahjong, poker and billiards room.
The <a href="https://www.eqtower.com.au/" target="_blank">Eq. Tower</a> development, a joint venture between ICD Property and Sino-Ocean Land, is an Elenberg Fraser designed residential creation on 62 levels, that looks to have a ‘luxury hotel’ appeal.
One cannot help but imagine that with the karaoke/mahjong blend of attractions there is likely to be a marketing effort to overseas buyers.
The tower will contain 632 one, two and three bedroom apartments with views of the city skyline.
One bedroom apartments, from 40 to 54 square metres, start from $359,000, with two-bedroom apartments spanning 53 to 71 square metres from $489,000. Three bedroom penthouses, at 81 square metres, start from $891,000.
The tower will include laneway-level shops and cafes, to complete the link between Melbourne Central and the Queen Victoria Market.
The lobby will include high-ceilings and mirrored wall paneling.
Communal facilities, beginning on level seven, includes an outdoor area with 25-metre pool, spa and sauna, and grassed relaxation areas. Similarly, inside, there will be an indoor gym, private cinema, communal kitchen and dining room, lounge and karaoke suites.
On level 33, a ‘sky-high’ club will be created with a private dining room seating up to 20 guests, a games room with a billiards, poker and mahjong table, and a lounge. All these facilities can be booked on each resident’s smart phone.
Michael Mai, managing director of ICD Property, said that the tower would be a strong sense of community and integrated vertical living.
“Elenberg Fraser has succeeded in bringing this vision to life and so we present Eq. Tower as the future of Melbourne living where residents can enjoy just as many experiences within their own apartment building as outside of it,” he said.
Estimated completion is in October 2017.
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>. 
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