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.

[smartcode_project:default project_id=5743 project_image_fid=372394]

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.

[smartcode_project:default project_id=5743 project_image_fid=927]

<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.

[smartcode_project:default project_id=5743 project_image_fid=375255]

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.”

[smartcode_project:default project_id=5743 project_image_fid=375281]

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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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.

[smartcode_project_cta:default project_id=5743]

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.

[smartcode_project:default project_id=145324 project_image_fid=372749]

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.

[smartcode_project:default project_id=145324 project_image_fid=354343]

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.

[smartcode_project:default project_id=145324 project_image_fid=354347]

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.

[smartcode_project:default project_id=152069 project_image_fid=374394]

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.

[smartcode_project:default project_id=152069 project_image_fid=374399]

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.

[smartcode_project_cta:default project_id=152069]

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.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<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.

[smartcode_project:default project_id=95289 project_image_fid=366769]

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.

[smartcode_project:default project_id=95289 project_image_fid=366762]

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>
Australian property prices are set to even out after last year’s growth in Sydney and Melbourne, according to new data from Residex, the research arm of online real estate portal Onthehouse.
Onthehouse claims that the Sydney market has reached its peak after 15% median price growth in the 12 months to February 2014. In the same period, median house prices in Melbourne rose in value by 10% while Perth’s prices grew by 9.25%, according to Residex. Weakening consumer sentiment and affordability issues are expected to contribute to a drop off in dwellings price growth over the next five years.
John Edwards, the consulting analyst for Onthehouse and founder of Residex, commented that wage growth had not kept pace with property price growth.
“While property values experienced strong growth in the last quarter of 2013, wages have not grown at the same rate. Sydney’s property market, which is a leading indicator for the national market, has consistently outperformed wages growth which continues to push property out of reach of buyers,” Edwards said.
“There is a natural limit on the maximum value of an asset at any point in time and that is the value at which the masses deem it to be unaffordable. At that point, competition for the asset diminishes. In Sydney, the trend data suggests that house prices are reaching their peak value in dollar terms for this period of growth.”
Residex cites the Westpac Melbourne Institute Index of Consumer Sentiment as a factor in its prediction. The index is at its lowest level since May last year, having fallen 10.9% from its peak in November 2013. It has also noted the same institute’s Unemployment Expectations measure, which has risen by 5.5% since May 2013, and is now sitting 13.6% above its November level. According to Residex, the unemployment index is at levels surpassed only by recession period readings during 2008-09, the early 1990s and early 1980s.
Onthehouse predicts that Sydney’s annual price growth will slow to 4% over the next five years, with Melbourne at 4% and Perth at 3%.
 
</body></html>

jrichardson-uRX5hFdKfN

Property prices to stabilise: Onthehouse

<html><body>
With Channel 9’s The Block: Fans v Faves art deco apartments taking off, everyone’s talking about warehouse conversions. We run through five of the best on the market.
<a href="https://www.realestate.com.au/property-house-vic-port+melbourne-116434871" target="_blank">263 Rouse Street, Port Melbourne, Victoria</a>
 <img src="/images/2014/03/27/port%20melbourne%20march%2027%20one.jpg" alt="">
It’s no surprise that Melbourne makes an almost clean sweep of the warehouse conversion market – as a former industrial hub that saw most of its major manufacturers move away from the inner city decades ago, there are now plenty of beautiful historic buildings to occupy.
 <img src="/images/2014/03/27/port%20melbourne%20march%2027%20three.jpg" alt="">
This three bedroom apartment in <a href="/news">Port Melbourne</a> with $1.2 million plus expectations bears all the hallmarks of a great warehouse conversion – open plan living spaces, interesting scaling and plenty of timber, steel and exposed brick. Not to mention a huge cast iron fireplace. The median unit price in Port Melbourne was $660,500 in February, while the median house price is $897,500, according to RP Data.
<img src="/images/2014/03/27/port%20melbourne%20march%2027%20two.jpg" alt=""> 
Article continues on next page. Please click below.
 
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-house-vic-richmond-116223743" target="_blank">30 Bendigo Street Richmond </a>
<img src="/images/2014/03/27/main%203.jpg" width="460" height="345">
This particular newly renovated apartment began its life in 1908 as the Wertheim Piano Factory. It then became the home of Heinz Australia, before it was passed over to GTV9, 1957. The former Channel 9 studios once housed a radio station, a concert band, a junior ballet, a full time chorus and an orchestra.
<img src="/images/2014/03/27/image5.jpg" width="460" height="345">
This two bedroom, two bathroom conversion includes a large decking area, a rare amenity for inner city warehouse living. The grand arched windows flood the open plan living space with light. It’s selling from $1.095 million; <a href="/news">Richmond</a>'s median house price is $1,041,000. The median sales price of Richmond units in February was $485,000.
Article continues on next page. Please click below.
 
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-apartment-vic-collingwood-116386907" target="_blank">18/120 Cambridge Street, Collingwood, Victoria</a>
<img src="/images/2014/03/27/main%204.jpg" width="460" height="345">
The former Foy &amp; Gibson spinning mills have been converted into a series of apartments. The building was built in 1895 and designed by <a href="/news">Collingwood</a> councillor William Pitt. This two bedroom apartment’s signature is its distinctive bay windows and soaring ceilings.
<img src="/images/2014/03/27/image4.jpg" width="460" height="345">
The vast space is divided by ornate wooden panelled walls and screens, giving the one-time factory space a unique character. The spinning mills apartment is on the market with expectations of $800-880,000. Collingwood's median unit price in February was $388,000, and its median house price for the month was $889,000.
Article continues on next page. Please click below.
 
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-apartment-nsw-surry+hills-116485443" target="_blank">Surry Hills, New South Wales</a>
<img src="/images/2014/03/27/image4%201.jpg" width="460" height="345">
Developers Cleveland &amp; Co are currently accepting enquiries for two and three bedroom apartments off the plan in this Surry Hill industrial site. The history of the two adjoining warehouses goes back to 1889, and the two buildings with art deco and Victorian heritage features are set to house 39 apartments. SJB Australia, who have plenty of experience will injecting new life into heritage buildings, will be the project’s architects, with interiors by Burley Katon Halliday.
<img src="/images/2014/03/27/image6.jpg" width="460" height="345">
According to the listing, most apartments will have a northerly aspect, meaning there’ll be plenty of light bouncing around the spaces, with three to four metre high ceilings. The site's <a href="/news">Surry Hills</a> location is thus far undisclosed. Median unit prices in the suburb sat at $658,500 for February.
Article continues on next page. Please click below.
 
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-vic-north+melbourne-116299547" target="_blank">1/2 Atkin Street, North Melbourne, Victoria</a>
<img src="/images/2014/03/27/image3%202.jpg" width="460" height="345">
At 150 years old, this <a href="/news">North Melbourne</a> building has had a long life as a Masonic hall. It has now been converted into apartments, with this multi-level residence selling from $600,000. The listing describes the apartment as having a “riot” of materials, shapes and textures, and it’s hard to disagree. With Baltic pine, Kauri pine and oak timber flooring, the apartment also features exposed brick, original 1855 bluestone walls and exposed steel.
<img src="/images/2014/03/27/main%205.jpg" width="460" height="345">
The conversion was undertaken by Re:CONSTRUCTION, a firm that specialises in warehouse conversions. The two bedroom residence also includes a raw-walled balcony and a solar power system. The apartment is on the market for $600-660,000. The median unit sales price in North Melbourne were at $472,500 for February, while the median house price was $910,000.
</body></html>

The five best warehouse conversions on the market

<html><body>
Housing costs are the second highest factor influencing the cost of living for consumers, with the ‘cost of living’ factor itself remaining the top item on the NAB Consumer Anxiety Index.
Consumer anxiety was specifically higher for those who live in New South Wales or the ACT, lived in rural or bush areas and earned between $35,000 to $50,000.
Housing costs were cited as the second influential factor on living costs after utility costs. Transport costs, health and medical costs, education costs, financial commitments and food costs were listed as other factors.
Despite cost of living still topping the list, this is an improvement on the last quarter of 2013. Even so, nearly one third of respondents rated this with ‘high’ anxiety, while just one in seven responded with ‘very low’.
In New South Wales, Victoria, Queensland and ACT, however, it was utilities that were cited as the worst factor. In South Australia, Northern Territory and Tasmania, housing costs topped the list. In Western Australia, food costs was seen as the most negative factor.
Job security concerns were also seen the grow, with 37% rating job security anxiety ‘medium’ or ‘high’, up from 2013’s last quarter result of 33%. This evened out with 36.5% rating it ‘very low’. This has seen the balance tip, with 40% in the last survey pointing to ‘very low’ anxiety around job security.
</body></html>

jduke-EHk3XBmHkn

Housing costs high on the list of consumer anxiety concerns

<html><body>
Deciding to make the plunge into home ownership can have many considering whether they’d be more secure buying or renting. There are certainly pros and cons to both.
Entry and exit costs
If you’re going to buy a property, you’re looking at paying some hefty entrance costs, and exit costs if you decide to sell. Consider stamp duty, conveyancing fees, building and pest inspections and all the other smaller costs that make up the purchasing journey and you’ll find yourself at an eye watering sum – not to mention removalist fees. When looking to rent, or move to a new rental, you’ll usually be looking at just the removalist costs, and the bond. This upfront cost can have many put off from the get-go, and certainly if you’re going to buy a property you’ll want to make sure you don’t intend to sell it again quickly.
Risk and gain
Purchasing a home can be a wise investment if undertaken wisely. Unlike those who do not own their homes, you have the potential to achieve capital gains by holding on to an asset. However, you also run the risk of the property dropping in value. While a renter is not in any debt from their home, you will be facing interest and, usually, an amount of debt for a period of time – this ensures there is a level of risk when owning a property.
Maintenance
As a renter, you don’t need to pay when things break from age or from need of upkeep. Certainly, any damage that you do will need to come from your own funds, but by and large the landlord will pay to keep things in working order. As a home owner, this becomes entirely your problem.
Despite this, you’ll find that the maintenance you undertake benefits you directly and you can get things fixed at your own convenience at your own home. As a renter, you largely rely on the accessibility of your landlord to undertake repairs and organise and fixes.
Improvements
As a tenant, you can certainly ask for, or offer to install, certain things to a property. For instance, fly screens and air conditioning are regularly asked for additions. However, the landlord doesn’t necessarily have to agree to your request. And, you may find yourself either covering the cost or seeing your rent inflated at the end of the term as a result.
As a homeowner you can make improvements whenever you want – changing paint colours at a whim, undertaking renovations, changing the garden or whatever it is you feel like. Of course, this comes at your extent, however any money wisely spent may increase the value of the property and in turn may be funds back into your pocket.
Housemates
As a home owner, you can rent out one of your rooms to another person for assistance with the mortgage repayments, much in the same way that you can share the cost of renting with someone else. As a renter, you will need to get permission from the landlord or property manager to allow another tenant into the property. As a home owner, you can do as you like.
You can also choose exactly who and when people enter your home. While tenants aren't without some choice, a property manager, with the right notice terms, does have the ability to inspect your property - and you don't get to choose the tradespeople that do the repairs or the property manager/landlord that you end up with.
Freedom
As a home owner, you can do as you like in your own space. Have pets? Want to smoke indoors? You can do as you choose. In saying this, the freedom of moving on from one property to another can become more limited as a home owner. To afford your initial property, you may find yourself needing to move from a more expensive suburb you can afford to rent in to a suburb that isn’t necessarily your first choice.
If your property drops in value, or if you find yourself unwilling to contend with the entry and exit costs, you may face a longer period than you envisioned living in the property. If, however, you are in a comfortable financial position – you may see yourself able to turn the property into an investment and return to renting, or purchasing a separate property as a home.
Alternatively, if you’re in a lease you cannot afford to pay out, you will be required to stay within the rental property until the end of the period. You may also find yourself required to move due to increasing rental costs, the investor selling or looking to put a different tenant in the property. Regardless of how diligent a tenant you have been, you can face costs.
Insurance and ongoing fees
Renters are lucky in that the costs they need to contend with can be quite low, with some landlords covering heating and water. While electricity and contents insurance, as well as other fees, fall on the shoulders of renters, other costs do not. Sewerage, rates, strata fees, building insurance – these costs must be handled by the property owner themselves. This can work out quite costly.
What pros and cons do you think first time home buyers should be thinking about?
</body></html>

Renting v buying: How does it stack up for you?

<html><body>
The former observatory home of Professor Georg von Nuemayer - a noted astronomer and polar explorer - has been listed for sale in South Yarra.
He undertook major astronomical work from the basement in the Domain Road property during his residency in the 1860s.
Historic sketches of the pendulum room where the work was conducted (such as the one below) appear in then contemporaneous publications. 
<img src="/images/2014/03/27/south-yarra-heritage-march-27-one.jpg" alt="">
Source: Royal Society of Victoria
Located on a corner block, the 203 square metre property is set on one of Kings Domain's finest streets.
The four bedroom home has several living areas plus terrace courtyard and double garage.
The 119 Domain Road, South Yarra property has been listed by <a href="https://www.kayburton.com.au/property/119-domain-road-south-yarra" target="_blank">Kay &amp; Burton agents </a><a href="https://www.kayburton.com.au/property/119-domain-road-south-yarra" target="_blank">Gowan Stubbings and Emma Bloom</a> who expect between $2.75 million and $3 million at its April 5 auction.
Von Nuemayer, who lived between 1826 and 1909, was the director of the Flagstaff Observatory, and former member, councillor, Vice President and honorary life member of the Royal Society of Victoria.
There now sits a plaque on the property commemorating the significance of the home set on the Hope Street corner, formerly known as Montpelier Terrace/Place.   
Born in Palatinate, Germany Neumayer was education in Munich, becoming interested in polar exploration, terrestrial magnetism, oceanography, navigation, and nautical astronomy. After he made a voyage to South America, he arrived at Sydney in 1852. After trying his fortune on the goldfields, Neumayer gave lectures on navigation to seamen, and then spent time in Tasmania at the observatory.
After he arrived in Melbourne in January 1857, he secured government funding for an interim observatory, with the instruments provided by the King of Bavaria, at what is now Flagstaff Gardens. The Botanic Gardens observatory opened in 1862.
Von Neumayer was a member of the exploration committee of the Royal Society which organised the 1860 Burke &amp; Wills Expedition joining it between Swan Hill and Bilbarka. The South Yarra property was his residence around 1863 and 1864.
In 1895, von Neumayer had established the German Commission for South Polar Exploration, which culminated in the <a href="https://en.wikipedia.org/wiki/First_German_Antarctica_Expedition" title="First German Antarctica Expedition" style="line-height: 1.3em;"></a>1901 so-called Gauss expedition.
Neumayer died in 1909 in Germany, his name given to the German Polar Research Station in Antarctica, "Neumayer Station".
The front two rooms and the hall on ground floor and first floor, basement and attic room have been assessed as original dating back to its 1850's construction. One of the first residents was John Moore from the Tasmanian Fire Insurance company.
</body></html>

jchancellor-FAypfDUnLy

Astronomer Professor Georg von Nuemayer's 1860s South Yarra home listing

<html><body>
GUEST OBSERVATION
One of the main arguments made by Australia’s banks for the watering down of Future of Financial Advice (FoFA) reforms is that it would reduce the cost of financial advice to consumers.
Specifically, the banks want “general advice” to be exempt from the rules prohibiting conflicted remuneration - in other words, commission.
The presumption is that the cost of financial advice is too high. But what are the costs? The short answer is it varies, depending on the complexity or amounts involved.
At a minimum, a client may expect to pay about $1,500 for a comprehensive personal financial plan and more likely $3,000 or more. Then, an agreement may be put in place to charge an amount for an annual review and monitoring services (in other words – a retainer).
Let’s take an example where a consumer has a relatively small sum of $5,000 to invest. Under the law, a financial adviser is required to treat the consumer for “personal advice”. This means taking into account the person’s details, risk profile and objectives and then completing a “statement of advice” which may run to some 15 pages or more.
To comply with the Corporations Act, the adviser may need to spend some four hours or more to complete the task to the required degree. If an adviser charged $150 per hour (cheap by all accounts) then the cost of providing the service would be about $600 or 12% of the investment amount. If the hourly rate was $300 then the amount would be $1,200 or 24% of the invested amount.
Such cost levels are obscene when considered as a percentage, and have made financial advice inaccessible for people with small amounts to invest.
Prior to July last year, advisers often received commission payments from product providers allowing them to waive or reduce the upfront fees charged for advice. From July 2013 financial advisers were banned from receiving commissions for new advice, in order to ensure the advice was not biased.
A recent example of the effect of the ruling is when a member of an industry superannuation fund retired and wanted to commence a pension from his fund and was charged $1,500 for a financial plan just to make a change to his circumstances. Such a fee can be explained by the rules of compliance under which financial advisers must operate.
The case for simplification
So, in such a context, the government’s proposal to simplify things by reducing the compliance rules makes sense. The new regime would allow some advisers to waive the normal requirements of giving objective advice after considering the consumer’s circumstances by allowing “general advice” to be offered instead.
This means the financial adviser will not have undertaken an account and have recorded all details of the consumer’s personal circumstances, and the recommended investment product will not necessarily be selected for a specific purpose that meets the consumer’s investment objectives. The advice is “general” so it may not be specific for purpose.
The upshot of all this is that some advisers will change their way of doing things to comply with the rules for providing general advice, so they will not be required to complete a client risk profile or produce a time consuming statement of advice. And the benefit to be derived is the payment by way of commission.
In the earlier example of the investment of $5,000, a commission of 3% or $150 may seem to be a saving to the consumer compared to paying $600. But, if the investment was $20,000 then the commission would be worth $600 without the adviser having to comply with the personal advice requirements. If the investment amount was $50,000, then the commission amounts to $1,500. At that level, we might as well return to the old days when selling a product was the objective.
Ongoing commissions are still rife
There is another aspect to financial advice costs that is overlooked in the current debate on whether to wind back parts of FoFA.
The costs of financial advice also extend to the costs applied against the consumer’s investments. Such costs are invariably based on a percentage of the amount invested. In other words, a commission form of fee is involved.
To illustrate: a consumer invests $100,000 via a product provider into an administration platform and then spreads the risk of investment among four or five investment managers. There are a number of costs involved.
The first is an administration fee charged by the platform provider. This is based on a percentage of the amount of funds invested, say 0.8% per annum. There may also be a member fee of say, $10 per month. Then the funds are invested with a range of fund managers who charge a fee based on the size of the investment.
Such a fee can range from a conservative 0.4% to 2.2% or more and some may even include a performance fee as an extra reward to the fund manager for exceeding a performance target.
Another level of fees that may hold back the performance of the consumer’s investment is an adviser’s ongoing fee. Again, in some instances this is also levied by means of an asset-sized fee up to 1% for various adviser services, although some advisers levy a dollar amount for such service rather than an asset-based percentage.
There are many stakeholders involved in the current debate about financial advice fees and commissions – consumers, advisers, regulators and product providers. Notably, the first three are opposed to the changes currently being considered by the government.
Warren McKeown is teaching fellow at the University of Melbourne.
Warren McKeown is affiliated with a company that holds an Australian Financial Services Licence.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
</body></html>

jake-cSmGT7VXVf

The one certainty of financial advice is unfettered fees

<html><body>
A new project, from YourLand Developments, is set to be Melbourne’s largest residential infill project within nine kilometres of the CBD, spanning 129 hectares and dubbed River Valley.
The <a href="https://www.yourland.com/Estates/Current_Estates/River_Valley.aspx" target="_blank">Sunshine North development River Valley</a> was officially launched on Saturday and saw more than 1,000 buyer enquiries in the lead up to the event, which offers blocks priced from $255,000, and block sizes up to 828 square metres. Titled blocks start from 402 square metres.
Director of YourLand Developments, Mark Erskine, said that more than 30 people attended the launch.
Interest has also been seen on nine titled blocks that were released late last year as well as 13 remaining allotments at River Valley Boulevard.
“All up, River Valley comprises about 1,200 lots, and is close to existing amenities,
including quality schools, restaurants, boutiques, Highpoint shopping centre, Sunshine
Plaza and Sunshine Market Place,” said Erskine.
The site includes a 3.6 kilometre river frontage, current city skyline views and a range of titled allotments.
YourLand took over the operations of the development in October 2013, looking to preserve the historical significance of the site as well as the eco-friendly nature of the development.
The first of the River Valley house and land packages is available for just over $700,000.
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>. 
</body></html>

One of Melbourne’s largest infill projects, River Valley, set for Sunshine

<html><body>
The credentials of design blogger Lucy Feagins will be on show as the Brunswick home she shares with partner Gordon Johnson goes to auction this weekend.
The Victorian residence at <a href="https://www.nelsonalexander.com.au/properties/buying/brunswick-12-nash-street#.UzDAMqiSx3h" target="_blank">12 Nash Street</a> has a single fronted cottage with one bedroom and one bathroom, with another one bedroom, one bathroom studio sitting at the back of the property.
Feagin and Johnson purchased the cottage in late 2007 for $335,000. According to <a href="https://thedesignfiles.net/2014/03/melbourne-home-lucy-feagins-and-gordon-johnson/" target="_blank">a post</a> on The Design Files, Feagins lived with her parents until the age of 27 to save for the purchase. The home, selling through Peter Stephens and Luke Chisholm of Nelson Alexander, is now listed with expectations of $640,000 to $690,000.
Photos of the property from 2007 show just how much work the couple have put into the home over the past six years.
<img src="/images/2014/03/25/11898978_2.JPG" width="460" height="306">
Above: The home's former living area. Below: The current kitchen and dining area.
<img src="/images/2014/03/25/6789295fo.jpg" width="460" height="306">
As Feagins details in her blog, the extensive interior renovations included replacing the kitchen and bathroom and installing a toilet in the main house. She describes the construction of the house’s outdoor studio 18 months ago as the completion of her “dream project.”
The work of several young Australian artists is featured in the home, including pieces by Emily Ferretti, Kirra Jamison and Lucas Grogan.
Feagins launched <a href="https://thedesignfiles.net/2014/03/melbourne-home-lucy-feagins-and-gordon-johnson/" target="_blank">The Design Files </a>blog in 2008, covering architecture and interiors, arts, crafts, graphic design and illustration. 
</body></html>

Lucy Feagins of The Designs Files to sell Brunswick cottage

<html><body>
GUEST OBSERVATION
Prime Minister Tony Abbott’s planned repeal of 9,500 redundant regulations and 1,000 Acts of Parliament could loosen dangerously close ties between politicians and developers. While such ties are problematic in many parts of Australia, the recent investigation of the Obeid family by NSW’s Independent Commission Against Corruption has brought this issue to the forefront.
Research that I undertook when I was leading a 2011 bid for a Cooperative Research Centre in Heritage demonstrates that the nexus between politicians and developers in Australia has become perilously close. Over the last decade, red tape involved in the heritage approvals process has resulted in a dramatic increase in direct ministerial approvals for developments.
In New South Wales, for example, the use of ministerial <a href="https://majorprojects.planning.nsw.gov.au/index.pl?action=search&amp;page_id=&amp;search=&amp;authority_id=&amp;search_site_type_id=&amp;reference_table=&amp;status_id=&amp;decider=&amp;from_date=15%2F2%2F2011&amp;to_date=3%2F3%2F2011&amp;x=68&amp;y=17" target="_blank">approvals for major projects or infrastructure</a> rocketed from a total of nine during 2001-2005 to 457 in 2010. Forty-three were approved in the two weeks prior to the state government going into caretaker mode.
Red tape is needed to reduce risk and to ensure transparent and equitable processes. However, too much red tape stifles investment. Moreover, frustrated developers seek greater use of ministerial “call in” powers to circumvent slow approvals.
<blockquote>
There is an economic need for a streamlined information system that reduces the approvals delay and provides certainty for developers.
</blockquote>
Australia’s current heritage approvals process is fragmented across jurisdictions, between agencies and between Indigenous and non-Indigenous heritage. This has produced mountains of uncoordinated, non-standardised data. This data is inaccessible, often redundant and usually incomplete.
Decision-making power is dispersed across numerous agencies. Decisions depend on the interpretation and knowledge of individuals rather than on a solid evidence base. We need integrated data-sets that make it possible to determine what is common from what is rare or unique. Common approaches to data collection, storage and use should produce consistent decision-making.
The escalation of ministerial approvals for major developments in NSW emerged in 2005. The Environmental Planning &amp; Assessment Act 1979 was <a href="https://www.planning.nsw.gov.au/en-us/developmentproposals/developmentassessmentsystems/part3aassessmentsystem.aspx" target="_blank">amended to include Part 3A</a> for major projects of state and regional significance. Part 3A determined that the only planning approval required was that of the NSW planning minister. Each project had a spend in excess of $50 million.
With Part 3A, both concept and project approval from the minister had statutory force. Part 3A projects circumvented local council approval and both state heritage acts. These projects did not need approvals under either the Heritage Act, 1977 or the National Parks and Wildlife Act, 1974. Moreover, Part 3A projects were protected from emergency protection orders and third party legal challenges under state environmental or planning statutes.
While the aim of Part 3A was to provide up-front certainty for long-term or complex projects, this provision was abused. When the Liberal government came to power in NSW Part 3A was replaced by two separate assessment frameworks. One is for state significant development. The other is for state significant infrastructure. Importantly, the new system constrains the “call-in” powers of the Minister.
It was anticipated that the number of applications designated as state significant would drop by half. Nevertheless, the level of ministerial approvals for major development projects is still way beyond what it was a decade ago.
Throughout Australia fast-tracking major projects through ministerial approval has become a viable alternative to following due process. Occasional exemptions have become routine and the nexus between politicians and developers has grown murkier.
A sustainable alternative to relying on ministerial approvals for large developments is to lessen delays in heritage approvals. Reducing red tape is one part of this.
Developers need access to sound information. A standardised, integrated and coordinated information system would support sound decision-making. A comprehensive database would make it possible to assess if a cultural heritage place is unique, or one of thousands. Such a system would make it possible to classify and rank heritage assets. It would provide an evidence base for determining what can go and what needs protection.
Uncertainty over heritage approvals is costing investment and jobs throughout Australia. In the resource sector, for example, <a href="https://www.fraserinstitute.org/research-news/display.aspx?id=20902" target="_blank">The Fraser Institute’s annual Global Survey of Mining Companies</a> consistently identifies uncertainty over the protection of wilderness, parks and archaeological sites as a strong deterrent to investment across Australia.
There is an economic need for a streamlined information system that reduces the approvals delay and provides certainty for developers. Such certainty needs to be based on good, irrefutable data. In addition, decision-making should be informed by community values in order to pre-empt conflict and provide long-term confidence.
Australia’s cultural heritage is recognised globally as unique. It includes the world’s oldest continuous cultural traditions, some of the first evidence for modern human behaviours and rich rock art complexes. In addition, it includes the histories of more than 200 migrant groups.
This important heritage needs to be protected. However, we need to grow Australia’s economy and we can’t keep everything. Decisions have to be made about what we pass on to the next generation as heritage and what we let go. These decisions need to be transparent, fair and consistent.
Reliance on ministerial approvals raises concerns about transparency and challenges the integrity of the system. It is possible that the current corruption cases in NSW are only the tip of the iceberg.
Claire Smith is professor of archaeology at <a href="https://www.flinders.edu.au/" target="_blank">Flinders University</a>.<img src="https://counter.theconversation.edu.au/content/24638/count.gif" alt="The Conversation" width="1" height="1" style="line-height: 1.3em;">
Claire has received research and community project funding from a number of mining companies, including BHP-Billiton and Rio Tinto.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
</body></html>

Tackle fast-tracking of approvals to close nexus between politicians and developers

<html><body>
Sorrell, the $35.4 million Hindmarsh Development and ACT government joint venture, was unveiled yesterday.
The three building complex, built by Hindmarsh Construction, comprises 132 apartments. Construction of the development was completed earlier this month. Sorrell is part of the ACT government’s efforts to revitalise the former Burnie Housing precinct.
<img src="/images/2014/03/27/lyons%20march%2027%202.jpg" alt="">
According to the ACT manager of Hindmarsh Development Brett Smith, the residential project exemplifies the benefits of working with the public sector.
“Sorell stands as a model of collaboration between Hindmarsh and the ACT government and the positive response to the project vindicates the joint venture’s vision to bring premium quality residential development to the precinct. We are proud to be associated with a project that has breathed new life and vitality into Lyons,” said Smith. The development sold 93 apartments off the plan immediately after its launch in March 2011.
Sorrell was designed by Antoniades Architects, with interiors by Hindmarsh. The complex also includes a 15 metre gas heated swimming pool and a furnished outdoor barbecue area.
<img src="/images/2014/03/27/lyons%20march%2027%203.jpg" alt="">
Hindmarsh has been operating in Canberra for 30 years. Its other projects include Altitude Apartments, which was completed last year.
The company, which has completed projects with value in excess of $2 billion, recently commenced construction of the Creswell Residences in Campbell, which comprises 52 apartments. It is also planning a redevelopment of the RSL national office, which is set to include a new national office for the RSL in addition to 174 apartments.
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>. 
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News