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>
Sydney’s seventh consecutive weekend with 80% or higher auction success rates was notched up this weekend, as the intensive four week countdown to the Easter break now tests the market depth.
Saturday's trophy listing, the penthouse in the Darlinghurst high-rise Horizon was withdrawn from auction given as yet uncompetitive buyer interest, with that black Mercedes van full of touring Chinese buyers remaining apocryphal.
The Ballard Property Group did however secure the day's highest notified sale which was $3.01 million in Maroubra. Auctioneer Damien Cooley from Cooley Auctions took a $2.3 million opening bid. Property Observer gleans a higher sale at about $3.35 million had been secured in undisclosed prior auction negotiations  through McGrath for the 1893 sandstone Hunters Hill house, Norwood.
The 81.8% strong clearance rate came from 413 results, although there were some 630 plus results expected in any final tally by Australian Property Monitors.
Last weekend's 82.4% came in at a revised 76.1%, a much larger than typical downward revision suggesting to Property Observer nascent signs of a slowing down from record-level pace.
The year's results are still well ahead of last year’s low 70% results and auction numbers are also significantly higher this autumn.
This weekend's 632 home offerings was around 38% higher than the 456 that were listed over the same weekend last year.
The inner west was the most active region for auctions this weekend in Sydney with 110 followed by the south with 87, then the upper north shore 73, the city and east with 70, the lower north 65 and the northern beaches with 55 auctions listed.
Mosman on the lower north shore is the most popular suburb for auctions with 12 listings, followed by Strathfield with 10, Blacktown and Greenacre with 9 each, and Erskineville with 8. APM reported four of the five Mosman results as sold. Three of the four Strathfield results were reported as sold. All six notified Blacktown results had sold. None of the three notified Greenacre results had found buyers.
"There's a dramatic increase to the number of properties coming on the market prior to the Easter period," one auctioneer told Property Observer.  
Melbourne’s weekend auction market bounced back this weekend to 73.9%, up from last weekend's 65%, which were first reported by APM as at 70% for the Moomba mini-pause last weekend.
That 65% - the lowest for the year so far - was interestingly not much higher than the 61% recorded around the same time a year ago, suggesting Melbourne fillip is on the wane.
The APM weekend's initial result in Melbourne came from 678 of the 930 auctions scheduled. Melbourne's volume is only just ahead of last year’s 832 over the same weekend.
The most popular region for auctions were the inner south with 157 auctions scheduled with the most popular suburbs for auctions being Reservoir with 19, followed by St Kilda with 16. Some 13 of the 16 notified Reservoir listings found buyers, and in St Kilda nine of the 10 notified results were sold.
Tasmania's gambling arts patron David Walsh had $16 million expectations for his full-floor penthouse atop the Harry Seidler-designed Horizon, Darlinghurst tower.
It was scheduled for March 15 auction <a href="https://www.ballardproperty.com.au/Buying/Search/residentialresult/residentialdetail.aspx?id=WOOLLAHRA%202012237&amp;wlid=57e94a53-15a1-4a6f-abe1-6c71d5563102" target="_blank">through Bill Bridges of Ballard Property Group.</a>
The proprietor of the much-admired MONA gallery and Moorilla Estate vineyard, was to include select artworks from his private collection, including a watercolour triptych on paper by John Olsen, to sweeten the property deal for the 43rd-floor penthouse.
It was bought from property developer Lang Walker in 2002 for $10 million through Bill Bridges and exceeded Sydney's then $8-million penthouse record. 
Walsh has recently had a Coco Republic custom furniture fitout with the aim of enhancing its appeal to Chinese buyers as a home and corporate home office suite, which would perhaps help on the annual strata levy deductability. 
</body></html>

jchancellor-FAypfDUnLy

Nothing on David Walsh's Horizon, but Sydney's streetside weekend auctions yield 80% plus again

<html><body>
Describing romanticism is difficult; I seek to find beauty not only in people but in everything around me.
Behavioral studies that attempt to understand the romanticism of objects and environments are both intriguing and complex. Psychology demonstrates that to romanticize non-human entities is to render them worthy of moral care and consideration, and to find a meaningful, personal connection with them.
Neuroscience research indicates that we use the same brain regions when we are thinking about nonhuman entities as we do when thinking about human ones, and it is here that our feelings (including romance, affection and love) can be connected with the built environment.
Architecture may also be connected to brain development. Neuroscience suggests that the quality of a built environment can enhance the performance of the brain and can even generate the growth of new brain cells. During his search for a polio cure, Jonas Salk retreated to the Basilica of Assisi. He later insisted that the design of that environment had cleared his obstructed mind and led to the polio vaccine.
<dl>
<dt>
		<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Basilica-of-Assisi-in-Italy.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Basilica-of-Assisi-in-Italy.jpg?itok=d_lQUsYW" width="580"></a>
</dt>
	<dd>
		Basilica of Assisi in Italy</dd>
</dl>
This experience prompted Salk to romanticize the architecture of the Basilica, and many can describe similar feelings about their built environments. This perception can drive people to consider architecture in their most important moments, both tragic and amazing.
Take Manhattan’s Empire State Building, for example. It’s a New York icon, featured in more than a hundred films including King Kong and Sleepless in Seattle. The famous building is a hotbed of romance, hosting numerous marriage proposals and even Valentine’s Day weddings. The world’s tallest building at the time of its completion in 1931, the Empire State Building sparks inspiration in those who see it (in pictures or in person) as well as those daring enough to surge to its peak via ultra-fast elevators.
Is it the height that grabs us and leaves us breathless? Or is it the fact this amazing feat of engineering, with its super-thick walls, was completed in just one year? Whatever the reason, this building dominates the skyline of New York City as well as the romantic consciousness of New York’s visitors, making it deserving of New York’s nickname (“the Empire State”).
<dl>
<dt>
		<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/The-iconic-Empire-State-Building.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/The-iconic-Empire-State-Building.jpg?itok=N2SZ6biK" width="580"></a>
</dt>
	<dd>
		The iconic Empire State Building</dd>
</dl>
Another example is found in the Guggenheim Museum Bilbao, in a small city in the northeast of Spain—not a popular travel destination until Frank Gehry designed the sculptural, sparkling museum along the riverfront. Like a powerful piece of art, a building can have a strong impact on us at first sight, and Bilbao has become a household name and a tourist destination due to this mesmerizing building.
Santiago Calatrava’s airport in Bilbao should not be discounted either; Calatrava’s famous soaring ceilings and structural details sweep visitors up into the rafters and bring them gently back down to where they stand, gazing upward. It’s no wonder that these two buildings are so often the images used for regional advertisements and announcements; they’ve become iconic because of the connections that they create with visitors.
<dl>
<dt>
		<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Gehry%E2%80%99s-sculptural-Museum-Bilbao.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/Gehry%E2%80%99s-sculptural-Museum-Bilbao.jpg?itok=B2YVtNu-" width="580"></a>
</dt>
	<dd>
		Gehry’s sculptural Museum Bilbao</dd>
</dl>
In fact, architecture is increasingly popular in all types of advertising, as ad execs take advantage of the romanticized backdrop. Take time to note the setting of any new car commercial—you’d be hard-pressed to find an ad where the location and architecture wasn’t chosen specifically to enhance the design of the car, its sweeping elegance, speed, timeless design, and beauty. This trend can be found among other types of products as well.
Unfortunately, not all architecture holds a positive meaning; we all have personal connections with spaces, places, and architecture, and sometimes they can be dark. The 2006 documentary <a href="http://www.youtube.com/watch?v=Zwl-Pa_QT0M" target="_blank">The Bridge</a> is a testament to this “other” romantic connection, highlighting San Francisco’s Golden Gate Bridge—classic, photogenic icon for most, but location of life-ending leaps for others.
The bridge has been the site of more than a thousand suicides, making it the most popular suicide location in the world. Why there? Some suggest it’s the majesty and iconicism of the structure that makes it the choice for troubled souls. Most jumpers don’t survive, making “why” a difficult question to answer, but the few survivors note the beckoning “vibrations” of the bridge.
It seems evident that our buildings do speak to us, in different ways. We must remember that when designing spaces, we are also creating a constantly evolving dialogue, open to everyone who visits.
Linda Bennett is a practising architect and founder of website <a href="http://www.archi-ninja.com/" target="_blank">Archi-Ninja</a>, a more than worthwhile read for those seeking a unique, in-depth view of architecture.
</body></html>

Linda Bennett

Romanticizing Architecture

<html><body>
If you're looking at refinancing, then here are 15 questions you should be asking.
<ol>
<li>Do you want to reduce your monthly repayments?</li>
<li>Are you looking to switch from a variable rate to a fixed rate? This may be due to the risk of higher repayments if interest rates rise in the future, or because you’d like more certainty around repayments.</li>
<li>Are you dissatisfied with the service provided by your current lender?</li>
<li>Is your current interest rate not as competitive as other lenders’?</li>
<li>Would you be better off with a cheaper rate with fewer loan features?</li>
<li>Would you benefit from changing to a loan with more features (e.g. offset account, re-draw facility) or perhaps you have features you are not using?</li>
<li>Would you prefer to pay off your home loan sooner?</li>
<li>Have your circumstances changed since you first took out your loan (e.g. you have started a family)?</li>
<li>Are you considering buying an investment property?</li>
<li>Do you think that debt consolidation might benefit you (e.g. consolidating your credit cards and personal loans)?</li>
<li>Are you planning any home renovations over the next few years?</li>
<li>Do you want to raise cash (by topping up your loan) so you can, for example, purchase a car, buy shares or take a major holiday?</li>
<li>Do you have a fixed-rate home loan that will expire soon?</li>
<li>Do you have a honeymoon rate that will soon revert to the standard variable rate?</li>
<li>Are you coming to the end of an interest-only loan term?</li>
</ol>
</body></html>

po-LsXgBTHBmX

The 15 questions to ask if you're considering refinancing

<html><body>
The latest release of residential land in the Heartlands development in Tarneit has been fast tracked by developers Asset1.
Stage 10 of Heartlands has been released early in an attempt to meet high demand for land in the Melbourne’s western rural-urban fringe, according to the developers.
Asset1 has also recently launched the estate’s ‘Club Heartlands’ recreation centre, which includes a gym, pool and tennis court. Stage 10 is located adjacent to the new facility, within walking distance of a seven hectare parkland precinct. New residents will be situated close to Tarneit Road, Werribee Plaza, and, eventually, the upcoming Tarneit Railway Station, which will be serviced by a train running between Melbourne and Geelong once the Regional Rail Link is completed.
 <img src="/images/stories/2014/03/14/heartlands-march-14-one.jpg" alt="">
According to Asset1 sales director Mark Adams, buyers were seeking competitive prices and a convenient location.
“Buyers want to purchase in a location that not only suits them now, but will suit them in the future when their family expands and matures,” said Adams.
 <img src="/images/stories/2014/03/14/heartlands-march-14-two.jpg" alt="">
“Stage 10 purchasers will be within metres of the recently opened Club Heartlands recreation facility and seven hectare parkland that’s scheduled for completion later this year.
“Offering blocks of up to 555 square metres, Stage 10 purchasers have the luxury of choosing a home that better suits their needs: a home with a spacious garden or entertainer’s alfresco area, or alternatively a larger home for a growing family.”
The Stage 10 release will offer 32 lots between 320 square metres and 555 square metres, with prices beginning at $161,000.
<img src="/images/stories/2014/03/14/heartlands-march-14-three.jpg" alt=""> 
Photos are artistic impressions.
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>

jrichardson-uRX5hFdKfN

Newest stage released ahead of schedule at Heartlands

<html><body>
Australia’s unemployment rate remained steady at 6% in February, in line with economists’ predictions.
The latest figures from the Australian Bureau of Statistics show the number of people employed in February grew by 47,300 jobs to 11,530,800, with an increase in full-time positions driving the growth.
Full-time employment increased by 80,500 jobs, but was offset by a fall in part-time employment, which was down 33,300 positions.
While the number of new jobs was up overall, there was still an <a href="https://www.smartcompany.com.au/growth/economy/36017-unemployment-rate-steady-in-february-reject-shop-managing-director-resigns-shoply-acquires-wowbaby-midday-roundup" target="_blank">increase in the number of unemployed people</a>, as the number of people out of work rose by 9,800 to 742,200 in February.
The figures, however, have caused some confusion, as people question how the number of jobs could have increased at the same time as the number of unemployed people.
JP Morgan economist Tom Kennedy told SmartCompany the result is influenced by the labour force participation rate.
“It all maps back to the participation rate. Labour force participation was quite strong, increasing by 2/10, meaning there were more people employed, or more people looking for work,” he says.
“When this happens you can get an uplift in employment, a rise in unemployment or an increase in both. In this case it was the latter and while there were almost 50,000 jobs created, there were also more people out there looking for work who were reclassified to be included in the labour force.”
The labour force participation rate now stands at 64.8%, an increase of 0.2 percentage points, according to the latest figures from the ABS.
In trend terms, the less volatile unemployment figure, which eliminates month-to-month discrepancies, rose from 5.9% to 6%.
On a state basis, the Australian Capital Territory has the lowest rate of unemployment, with the percentage of people out of work dropping from 3.6% to 3.4%.
Tasmania also recorded a fall in unemployment, but it still maintains the highest level of unemployment in the country, with 7.4% of people out of work.
The highest rise in unemployment occurred in Western Australia, with unemployment jumping from 5.2% to 5.9%.
Overall, Kennedy says in February there was a slight “uptick” in the labour market.
“The growth in full-time jobs was actually the second strongest on record dating back to 1976. However there are distortions in the data,” he says.
“The jobless rate held steady at 6%, which is consistent with what we predicted and this generally gives the best indication of how unemployment is tracking.”
Toward the end of the year JP Morgan predicts unemployment will reach 6.5%.
“It won’t come as a shock to us or the Reserve Bank, which predicts it will peak around the beginning of 2015,” Kennedy says.
Kennedy says when the jobless rate increases, it has broader economic impacts.
“When the jobless rate moves higher it suggests wage growth is soft and that the economy is running sub trend,” he says.
“Consumption is likely to remain soft going forward. As income growth is low, there won’t be much discretionary spending. Consumer sentiment is also likely to be subdued and this is clear looking at the Westpac-Melbourne Institute Index of Consumer Sentiment which has dropped around 10% in the last few months.”
This article first appeared on <a href="https://wwww.SmartCompany.com.au" target="_blank">SmartCompany</a>.
</body></html>

yredrup-o4Anfe78KF

More people in full-time work, but an extra 10,000 unemployed: What the unemployment figures really mean

<html><body>
As we prepare for handover of about six dual occupancy projects over the next few weeks, my mind has been focused on the very important practical completion (PC) and handover process.
These are the final stages of the development when all the construction works are coming to an end. It’s the time you really need to work in with your builder to ensure there are no delays. The bulk of the drawdown’s are now in the builder’s bank which means our client is incurring higher interest cost, so it’s our job as their project manager to ensure the properties are checked thoroughly, work is completed quickly, the agents have all they need to start advertising for tenants/sale and we get the keys as quickly as possible so an income can start to be realised.
Our preparation for PC usually starts about four weeks out from the estimated completion date. We will meet with our site managers to check off things still to be done and try and pre-empt any delays with the required paperwork that the certifier will need for their final inspection and a check of the DA conditions and that all have been met.
We’ve recently experienced a delay on one project where road works to the entrance of the development were conditioned in the consent, whilst all were across this and the works started in good time, we didn’t anticipate the delay in the inspections required by council’s engineering consultants. They held up the completion of the works for two weeks, in the meantime, the landscaping had been laid and all other works were done.  The delay meant we couldn’t have the private certifier do their final inspection; this then delays the issuing of the occupation certificates and the handover process which ultimately impacts on how quickly we can get the villas tenanted and returning some money for our clients.
We will generally conduct the two final inspections for our clients; however clients are always welcome to attend, in fact we love it when they do as it’s often the first time they’ve physically seen their project.  Whilst they had been getting their weekly update report each Friday with lots of photos, there’s nothing like walking through your completed development.
The first inspection involves spending a few hours walking through and around the construction, discussing and pointing out any finishes that we are not happy with or works still needing to be completed. The site manager will make a list and at the end of the inspection we receive a copy. The builder then has one week in which to complete/rectify before we meet again on site for the Handover inspection. This again is a detailed inspection, using our PC list to ensure that all items on the list have been addressed. Once we are happy that the builder has finished the project to our high standards, a phone call is made to our client, letting them know they can now send the builder’s final invoice to their bank for payment.
Before the bank pays the builder, they will usually send out a valuer to check the project is completed and sometimes want to see the occupation certificates before they will pay the builder. They will also want to see that building insurance has been raised as once the handover process is complete, the villas are the responsibility of the owners.  Of course there are warranty periods in which the builder must rectify any issue that some time may not crop up until they are lived in.
Whilst we wait for the bank to make payment, we have already had the properties listed on the Net for rent/sale and because of our close relationship with our builder; the agents have also been able to show the properties. Our aim is to have the properties leased by the time the bank pays the final account and we are able to deliver the keys to the real estate agent.
During this period we will also prepare our brief to our quantity surveyor so they can work on the depreciation schedules.
There is a lot of work at the end of a development project to manage a quick and smooth transition from the construction phase to the all important income phase. But it’s one of my favourite times, when we all get to step back and see the completed project that started as a vision when we first located the land.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a> <a href="https://www.propertybloom.com.au%20%20" target="_blank"></a>
</body></html>

jochivers-wq5Bp59R5a

How to manage the pointy end of your development

<html><body>
We all get told what we should be doing with investment properties, but it's not as often you get told what not to do. Here are five mistakes that you do not want to be in the middle of.
<ol>
<li>
Assuming you will never sell One of the common misconceptions in property is that you will just hold the asset forever. While for some this is the case, it's far more likely that you will need to sell the property at some point. If you do not think about your exit strategy, you may find yourself missing out on other opportunities or, worse, you may find yourself unable to sell the home if the worst happens and you do need to sell. Thinking about how it will sell, and when may be optimal, is very important for every investor. Never make the assumption that you will hold for the long-term. By all means, plan ahead, but ensure you have that escape route in mind. 
</li>
<li>
DIY-ing without experience Many an investor has gone into their property and attempted to fix, renovate or style a home on their own - with no prior experience. If you're a sparky by trade, then go ahead and get hands on. But if you're not exactly handy either get trained up first or back off. Don't risk wrecking your property or rendering it unsafe for yourself and others by trying to save some money on labour. 
</li>
<li>
Forgetting to look for independent advice It's all well and good having a chat with the real estate agent selling you a property, or the developer who is building the apartments you have been looking at. But nothing can replace solid, independent advice from impartial and qualified professionals. Seek out a second opinion where possible, and always be looking for what their ulterior motive may be. 
</li>
<li>
Postponing maintenance and tenant requests While tenant requests can be difficult and, for some, an irritation - you cannot brush them aside. The best landlords will always keep a close watch on what their tenants are asking them to fix - perhaps there's an indication of a bigger problem, or perhaps the entire home needs updating. Similarly, small problems have a habit of spiralling into larger ones. That small leak under the upstairs sink? It's now a large leak that has spread to the downstairs ceiling. Don't let things get out of hand when the fix may have been small in the first place. Remember that your tenants are living in this property as their home and are deserving of a high standard - keep your tenants happy, and they will usually look after your property. 
</li>
<li>
Ignoring your own risk profile Don't be encouraged into buying or engaging in a property or scheme that makes you uncomfortable. There are plenty of opportunities to jump out of your comfort zone in life, but when it comes to your finances and your retirement plan this might not be one of them. Be honest with yourself about what you are comfortable with, including how much debt and outgoings you can accept and don't be coerced into doing anything else by external parties. If you do feel you are being too conservative, speak to someone close to you that you can trust. Remember, though, what is right for someone else isn't necessarily right for you. 
</li>
<li>
Jumping on the bandwagon Lastly, we have a tendency to see what other people are doing and getting excited about it. There's no harm in following trends, but you may find that it stilts your potential growth with investments. Many people following mainstream media reports of 'hotspots' or the advice they get from their parents at a barbecue are likely to see themselves buying into the market far too late. Do not get caught up in property hysteria that sees many overpaying and missing out on the best growth. Always take a step back and look at the entire picture.</li>
</ol>
</body></html>

jduke-EHk3XBmHkn

Six things you must not do as an investor

<html><body>
Landlord Watch Australia has taken the concept of a tenant blacklist and turned it on its head - how about a blacklist for landlords?
With the tagline "A safe and secure home is a need essential to human happiness and well-being" the <a href="https://www.landlordwatch.com.au/%20" target="_blank">Landlord Watch website</a> asks tenants to dob in their dodgy landlords, and provides "top five" lists of 'Bad Landlords' as well as the 'Rotten Realtor' of the year. It's not all bad news, there's also a 'Lovely Landlord Award'. Announced in July, it seems that last year they didn't present a landlord with this award as they didn't receive a single entrant for it. "We automatically review ratings submitted by tenants, but you can also nominate your realtor by email. Realtors can be nominated for the award at any time. We accept nominations from whistleblowers including advocates, officials, and neighbours. Please provide as much information as you can, including correspondence, photos, video footage, and so on," the site says. The not-for-profit was created in 2012 by two tenants, and it is located in New South Wales and Victoria. To make the bad landlord list, there's a judging criteria. Here are a few of the items taken into account:
<ul>
<li>Compliance with a tenant's human rights</li>
<li>Compliance with legal obligations</li>
<li>Compliance with contractual obligations</li>
<li>Community and media interest in the issue</li>
<li>Direct or indirect discrimination against tenants on the basis of gender, family status, sexual preference, age, race, etc</li>
<li>Denial of procedural fairness or natural justice</li>
<li>Consequences and impact of their conduct on the tenant and their family members.</li>
<li>Number of persons affected</li>
</ul>
</body></html>

Are you on Australia's landlord blacklist?

<html><body>
Meriton Group’s property management arm, called Meriton Property Services, says that they have an average vacancy rate of 0.5% across their 3,000 apartments in Sydney.
This compares to the city’s average vacancy rate of 1.7%, according to SQM Research.
Meriton managing director Harry Triguboff said that they have the advantage having built the entire blocks.
He notes that the positioning of the apartments, the generous sizes, and the fact that they’re well-appointed and close to public transport have helped them perform.
In addition they also station an onsite building manager, or caretaker, to each property to ensure that they are maintained correctly.
The 0.5% is a record low for the company.
</body></html>

Harry Triguboff’s Sydney property management arm has 0.5% vacancy rate

<html><body>
The innovative design of Sydney’s blue chip Eliza development has the town talking.
Eliza is situated on Elizabeth Street in Sydney’s CBD, overlooking Hyde Park. According to the building’s architect, Tony Owens, the development’s location was the major influence on its design, from its curvaceous façade to its materials.
<img src="/images/Eliza%202.jpg" width="460" height="307">
“It all starts with the site,” said Owen. “It’s surrounded by some of Sydney’s most important buildings. We always do a contemporary design, but we wanted to do a design with those buildings as well. So we used traditional materials like sandstone and steel, but we did it in a contemporary way.”
Each of Eliza’s 17 floors is different from the last, a practice Owen says was previously unheard of.
<img src="/images/Eliza%2011.jpg" width="460" height="690">
“Each level has a different floor plan, because each level has different views and different amounts of sunlight. And we found that as you went up the building, the situation changed.
“In the past, you wouldn’t conceive of having a different structure on each level.”
But thanks to the advent of new technology, Tony Owen Partners has been able to create a building that would have been unfeasible three years ago. Owens’s own home attracted attention last year when Moebius House [pictured below], which he designed using early versions of similar technology, <a href="/expert-insights/building/tony-owens-moebius-house-dover-heights-listed-for-sale">hit the market</a>.
 <img src="/images/moebius-house-tony-owens-4.jpg" width="460" height="316">
“Every project we do represents a jump in technology,” Owen said.
“We started with some more basic things like the Harley Davidson headquarters [pictured below], and then with each project it became more complicated and exciting.”
<img src="/images/harley.PNG" width="460" height="325">
Both the Eliza’s design and its fabrication were made possible by recent technological advancements, says Owen.
“The building’s materials were actually fabricated by robots. The robots would take a block of stone, and would cut shapes exactly to our computer’s specifications,” he said. “We used digital technology to not only design the façade but also break it down into parts, so that we could easily manufacture it.
“We had to consider: if you have a wiggly line, how do you break it down into pieces that are sensible and practical to build? This technology didn’t exist three years ago, but it exists now. And it means a very complicated design can be brought down to a very inexpensive standard.”
Eliza, developed by Ceerose, has 19 half and full floor apartments spread over its 17 levels. The building’s three level penthouse, which will be marketed once construction is completed, includes a rooftop infinity pool, limestone paving and outdoor kitchen and is expected to fetch $15 million.
The majority of the apartments’ buyers are owner-occupiers, and with its prestige location and costly amenities (including marble laundry benches), there’s no doubt that Ceerose are pitching Eliza at the city’s luxury market.
<img src="/images/Eliza%20bathroom.jpg" width="460" height="307">
Of the possibility that Eliza’s undulating design may alienate some buyers, Owen says that Sydneysiders are ready for risk taking architecture.
“I was in Melbourne on the weekend, and every project there is as exciting as Eliza,” said Owen.
“Buyers always choose good over ordinary. In Sydney, they’ve always been offered a boring box. But now we’re seeing that once they get offered the choice, they choose the more exciting designs.”
Owen says that demand for contemporary design is growing across the city.
“Now all the real estate agents are going to architects and saying, ‘Can you design something like Tony?’ because that’s what the buyers want. And we’re very excited about that, because it raises awareness about terrific design.”
Currently only two apartments in Eliza remain unsold. The full floor offerings are being marketed by Nigel Napoli and Irene Lau of Savills, with Richard Shalhoub and Hamish Robertson of McGrath.
As for the future, Owen says his practice has plenty on its plate, with residential, commercial and public projects underway.
 
</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