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

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

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

How Sterling Global designed 623 Collins from Melbourne's history

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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Dessert franchise The Cupcake Bakery has collapsed into administration amid news some former store locations are no longer trading under The Cupcake Bakery name.
Administrators Brent Kijurina and Richard Albarran from Hall Chadwick were appointed to the business on March 5, with the first meeting of creditors scheduled for March 17 in Sydney.
The Cupcake Bakery was launched by husband and wife team Alex and Angela Perry in 2006, its website reports.
It says the pair were driven by a “passion for desserts and a drive for business so we left our careers and started selling cupcakes at markets”.
The company built a franchise network through Melbourne, Sydney and Brisbane.
It offers multiple cupcake flavours, sold individually or packaged up for corporate and private events. 
While it was not clear this morning which locations of The Cupcake Bakery are still operating, SmartCompany was told four Cupcake Bakery franchises across Sydney are now trading as a different business.
The stores in Westfield Eastgardens, Liverpool, Ikea and Warringah Mall are now operating as The Cupcake Café.
The Cupcake Bakery is not the first cupcake business to face change, with liquidators appointed to <a href="https://www.google.com/url?q=https://www.smartcompany.com.au/growth/economy/27668-the-end-of-the-cupcake-craze-the-ghermez-cupcake-empire-starts-to-crumble&amp;sa=U&amp;ei=3VIeU4XEFpGMlQXCioDYDQ&amp;ved=0CAYQFjAA&amp;client=internal-uds-cse&amp;usg=AFQjCNGMK_JjwP1WIsxtu4l_qBxllj2nCA">Ghermez Cupcakes in late 2012</a>. Founder Ghazaleh Lyari toldSmartCompany at the time the business was not going into administration.
"It was structured as a family trust and I am bringing investors on board so the trust is being liquidated," she said.
The Cupcake Bakery’s administrators were contacted by SmartCompany but declined to comment further on the state of the business at this stage.
This article first appeared on <a href="https://SmartCompany.com.au" target="_blank">SmartCompany.</a>
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moliver-7qYWqnHmyR

The Cupcake Bakery franchise collapses, but some stores keep baking

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Clearance rates in Sydney are continuing to reach record highs, with more than 80% of homes up for grabs consistently selling each weekend.
On Saturday, 82.4% of properties sold at auction in Sydney, according to the latest figures from Australian Property Monitors.
APM senior economist Andrew Wilson said last year’s momentum is continuing to prevail in 2014 and there are no signs the market is slowing.
“Sydney is tracking around those low 80% numbers, even though we’re getting considerably high listing numbers for this time of the year,” he says.
“It’s a strong market in Sydney. There had been a feeling some of the budget markets like Canterbury, Bankstown and the west and south-western suburbs were falling off the pace, but even they had some reasonable clearance rates in the 80% range again.”
In 2013, the prestige market in Sydney lagged behind the rest of the market. However, this trend seems to have been reversed, with premium suburbs now also recording high clearance rates.
“Even though the bottom end had been waning a little bit, the top end has been picking up,” Wilson says.
“This market was quiet a year ago, but prestige property is back in town and there have been higher numbers of prestige properties on the market. There is a sense the prestige market has now taken on the energy the market’s had for the past 12 months.”
Over the past four weeks, Sydney has seen auction listing numbers consistently above 600.
“There are really no dark clouds on the horizon, which appeared to be gathering at the end of last year. Economic factors like retail sales and construction figures are on the up and low interest rates are one of the key drivers of the market,” Wilson says.
But Wilson says despite this some cracks could be starting to show in Sydney’s rental market.
“We’re starting to track a sense that vacancy rates are rising, which could be a concern for some investors, and rents have been flat now for some time. This could signal some concerns about the viability of the rental market,” he says.
In Melbourne, there were lower listing numbers than usual due to the Labour Day long weekend. However, out of the 227 properties listed for sale, 70.1% sold; an increase of almost 10% on this time last year.
“In Melbourne it was a holiday weekend, but it still had a reasonable clearance rate and listings were also up compared to this time last year,” Wilson says.
“The market is tracking a little higher than this time last year, with inner bayside suburbs particularly strong. We’re expecting a big weekend this week.”
Wilson says the strength of the Sydney and Melbourne markets is evidence of the effectiveness of low interest rates.
“The Melbourne market has passed every test which has been thrown at it so far… it shows what low interest rates can do,” Wilson says.
Brisbane, which has been tipped as the <a href="https://www.smartcompany.com.au/finance/investment/35385-brisbane-to-boom-house-price-growth-to-slow-property-trends-for-2014">hot spot for property investors in 2014</a>, recorded a clearance rate of 59.5% and 105 properties were listed for the weekend.
However, Wilson says this isn’t an accurate reflection of the market.
“In general terms there is a sense in the Brisbane market it’s picking up. It’s still below its previous price peak but expect to regain record level prices sometimes this year,” he says.
“Investors and the middle market are very active.”
This article first appeared on <a href="https://SmartCompany.com.au" target="_blank">SmartCompany</a>.
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yredrup-o4Anfe78KF

Sydney auctions still going gangbusters, and there’s no sign of slowing

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Setting up an office in 2014 is not as simple as a creating an imposing front entrance, nice boardroom, rows of desks and glassed-off rooms for the managers.
Do this, and your workplace will be viewed as mediocre – sending the wrong message about your capabilities to clients and also to potential and current staff, who could feel less valued and connected to the company as a result, experts say.
To avoid this, many top businesses are investing extensive time and money into creating an <a href="https://www.smartcompany.com.au/leadership/33842-five-design-features-that-actually-promote-productivity" target="_blank">environment that is cutting edge</a>. Collaboration hubs, areas to hold functions, flexible workspaces and café-style kitchens are just scratching the surface of possibilities.
While SMEs may have small budgets to work with when it comes to creating a dynamic, future-focused workspace, it is possible to take some ideas from the corporate or creative worlds and <a href="https://www.smartcompany.com.au/leadership/34040-six-top-tips-for-the-ultimate-workplace-design" target="_blank">adopt elements within your financial reach</a>.
For inspiration, SmartCompany spoke to two leading experts in the field of office design, HASSELL principal Steve Coster and Schiavello workspace planner Nick Tennant.
“The good thing we are seeing, particularly for SMEs is that these themes are applicable to businesses regardless of their size,” Tennant says.
Here are 10 of their hot tips.
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/9.jpg" width="600" height="409">
Above: The entry to the Savill’s office in Brisbane is grand but has a sense of being open - designed by Carr Design.
<h2>1. Let the outside world in</h2>
A grand entrance and reception space hiding the work environment may serve some organisations, but today it is more about letting the outside world in, according to Coster.
“Now work is a much more collaborative process, where you may be working with another firm, so your space needs to allow you to do that,” he says.
“You may have an external firm in your office more often, or freelancers working as part of your project team. It is a more complex population of people that are just as likely to be from outside your organisation as in it.”
Coster also says this means office spaces can become a marketing tool to show clients how you work and the strength of your team. He says the ANZ Centre in Melbourne’s Docklands is a good example of an open environment, as visitors can walk right into the middle of the building into an atrium, without going through security.
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/2.jpg" width="600" height="409">
Above: This Schiavello design uses a Krossi sit/stand workstation to enable flexible work options.
<h2>2. Attract staff with style and culture</h2>
If you want good staff, create an appealing workplace, suggests Tennant.
“Top performing businesses are in a war for talent, and to get the best talent they are using the workplace as a tool to retain staff,” Tennant says. “It is also about making them happy to give their best.”
He says the “bells and whistles” offered in some workplaces range from simple things like free food, to café-style lunch areas, or ping pong tables and sleeping pods.
“We are seeing residential and hospitality design influencing the more informal areas of an office, such as a lounge or a break area. As people spend more time in the office, it is becoming a home away from home,” he says.
“It could be a sit/stand workstation to provide comfort and control to an individual as a trade-off to perhaps a smaller desk.”
Coster agrees, citing researching that shows the more extra facilities an employee offers, the greater chance staff will find the workplace an attractive office.
“It might be gym facilities, wellness facilities, or classes such as yoga. Or childcare to show support of diversity,” Coster says.
“Also there is a broader atmosphere dynamic which is about people perceiving it as the kind of organisation they want to work for – the social capital of an organisation, not just being a number.”
“It is the opposite of anonymity – the big buildings with repeated rows of workstations is not going to cut it.”
Article continues on next page. Please click below.
                  
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 <img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/3.jpg" width="600" height="409" style="line-height: 1.3em;">
Above: This Schiavello design features the Krossi, a sit/stand workstation for greater flexibility across a wide range of workspaces.
<h2>3. Activated spaces</h2>
As the way people work becomes more diverse, so too are the spaces they need to facilitate this work.
Tennant says that one of the greatest trends is making the configuration of office spaces diverse.
“We try to get a deep understanding of work styles and work modes. So rather than spending all day at a single desk and popping into a meeting room, we are seeing break-out lounges, circulation areas, informal seating, and standing work areas to facilitate serendipitous encounters and random acts of creativity,” Tennant says.
This “activity-based working” has often been referred to as hot-desking.
“It comes back to the idea that a standard desk for every person is an outdated notion now.”
Coster says the key to these “activated spaces” is balancing them with areas for concentrated work.
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/4.jpg" width="600" height="409">
Above: This design for Transfield Services designed by PTID Environments shows a modern, collaborative workspace.
<h2>4. Sustainability as the norm</h2>
A few years ago sustainability was a buzzword when it came to office design, but Tennant says it should now be simply “good practice”.
“Basically, traditional office buildings are underutilised and sparsely populated – so it makes sense to populate them with more people,” Tennant says.
“It is also sustainable. Having huge buildings running lighting and air conditioning and not having many people in them makes no sense.”
Article continues on next page. Please click below.
<hr class="system-pagebreak">
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/5.jpg" width="600" height="409">
Above: This Schiavello design uses the Kayt Quiet booth-like lounge with high sides and back for quite conversation or concentration.
<h2>5. Musical furniture</h2>
Office spaces traditionally have fixed furniture that requires facilities teams to assemble or disassemble. Now, flexible furniture options are key, explains Coster, enabling staff to “self-organise” their office space.
“(This is) so spaces can be changed at the speed at which they need to be changed, not next Thursday when the facilities department has time to come and move it for you. So that speeds up the whole business, potentially,” he says.
“Linked to that is greater emotional ownership of those spaces by the teams. People need to feel like it is their space to move around, so they can turn it into whatever sort of space they need.”
Tennant says this need for workplace design flexibility is not only about day-to-day experiences, but also reflective of general volatility in business conditions.
“With volatility being discussed in the media environment… with all these changes happening constantly, businesses have to think how to adapt faster than their competitors. The take-out from that as a product response is that furniture needs to be able to be moved easily.”
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/7.jpg" alt="">
Above: Schiavello set out to make workplaces malleable with Climate, a workplace furniture platform that gives control back to the users. It can be moved around easily to support changing needs.
<h2>6. Create social capital</h2>
Creating a community within a workplace is now just as important as productivity. Coster explains this helps to build “social capital” which leads to other sorts of value in your business.
“An example of a workplace that is also a community is dtac House in Bangkok, the headquarters for one of Thailand’s leading telcos,” Coster says.
“They had a whole lot of employees in their 20s and a big turnover rate. They provided a whole series of recreational facilities, gyms, games rooms and music rooms and all sorts of whacky stuff that the young employees would use together. Through that play they developed a greater sense of cohort among themselves and developed a greater retention in the organisation.”
Article continues on next page. Please click below.
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<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/7a.jpg" width="600" height="400">
Above:The HASSELL offices in Sydney have an in-built auditorium for hosting presentations. Photographer: Nicole England.
<h2>7. Home for events</h2>
To make a mark in your sector, bringing the industry to your workplace is a good way to go about it. Coster says creating spaces within an office environment to hold events and engage with clients and collaborators is becoming important.
“It could be event spaces where your aim is to host event spaces in your office. You could host those to bring people closer to your firm. It could be an exhibition space or event space or roof terrace,” he says.
“Right in the middle of our Sydney office is a big set of bleacher steps where we have our team meetings and industry lectures.”
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/1.jpg" width="600" height="409">
Above: This Schiavello design uses a Krossi sit/stand workstation to enable flexible work options.
<h2>8. Mix your community</h2>
Thinking beyond the realm of your own company and to how you could be in proximity to a mix of industries is key, Coster says.
“If there are only ever accountants coming out of your building it is a lost opportunity.”
He suggests looking at the surrounding mix of big companies and smaller independent companies that could be service providers to those other organisations, and sharing space with them or freelance workers.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/9a.jpg" alt="">
Above: At the ANZ centre in Melbourne HASSSELL created different environments on each level. Photography: Earl Carter.
<h2>9. Spread into the public</h2>
Workplaces are spilling out into the public realm, with people working outdoors and in public spaces, Coster explains.
“What people have been doing for a long time is working in the coffee shop as much as the office. It is an extension of that idea. Some places already exist like libraries, or the airport lounge or co-working facilities,” he says.
“But it makes you think about public spaces as well. A city square or a park could be places you work in the right weather.”
<img src="https://www.smartcompany.com.au/images/stories/Features/Euro-Oliver/10a.jpg" width="600" height="400">
Above: HASSELL designed the George Patterson offices, with versatile spaces catering to creative and business needs. Photography: Dianna Snape
<h2>10. Authentic interiors</h2>
There are no set trends when it comes to office interiors, Coster says, but rather the need to create authentic spaces “that don’t feel fake and contrived”.
“Why do people like being in heritage buildings more than generic office buildings? Traditional generic office buildings are contrived spaces,” he says.
“That is why people think of theme parks as fake, they want places that feel authentic with texture, layers and heritage.”
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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The power of office design – 10 major trends to watch

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It's rare to see the Left and the Right reaching consensus, but it appears nothing can pull Australians together as much as the threat posed by Chinese property buyers.
Today Paul "Magic Water" Sheehan offered his take on the impact of Chinese buyers on the Sydney residential property market. He <a href="https://www.smh.com.au/comment/cashedup-chinese-are-pricing-the-young-out-of-the-property-market-20140309-34f9k#ixzz2vVe3TEVC" target="_blank">warned darkly in today's Sydney Morning Herald</a>:
"The growth of the Chinese middle class has been so explosive, and on such a scale, that it has the capacity to affect Australia in ways that will need to be controlled if some trends continue to accelerate. Notably home buying."
Sheehan, it seems, is was most worried about young people:
"First-time buyers, young buyers, are now caught in a pincer movement between superannuation and Chinese investment."
A pincer movement. Wow. But Sheehan was merely echoing Clive Hamilton, who recently <a href="https://www.theguardian.com/commentisfree/2014/feb/18/wealthy-chinese-buyers-are-making-sydneys-housing-problem-worse" target="_blank">wrote an article for The Guardian</a> originally headlined "Wealthy Chinese buyers are making Sydney’s housing problem worse". Hamilton's piece commenced:
"Every weekend in Sydney, young Australian couples are turning up at auctions excited at the prospect of finally owning their own home, only to find that other bidders are wealthy foreign buyers with money to burn."
"Cash pouring in from China" was responsible, Hamilton claimed -- a "flood of unregulated investment". It touched on the same themes as Sheehan's piece later would: young people priced out of the market, official indifference, how Hong Kong doesn't let the same thing happen.
But the headline on Hamilton's piece was changed to "Foreign demand is making Sydney’s housing problem worse" after an outcry from readers. The Guardian offered an apologia almost as long as the article itself admitting a number of problems with Hamilton's article, although "the author stands by his opinion".
Hamilton and Sheehan aren't the only ones, though. This "flood" of unregulated money from China is becoming a staple of media real estate coverage, especially in Fairfax papers, which have carried articles about the Chinese property "splurge" as real estate prices, especially in Sydney, have soared.
Well, let's try some facts, courtesy of the Foreign Investment Review Board's <a href="https://www.firb.gov.au/content/Publications/AnnualReports/2012-2013/_downloads/FIRB-Annual-Report-2012-13.pdf" target="_blank">2012-13 annual report</a>, which has data on who is buying residential property. Total foreign investment in residential property in Australia fell in 2012-13, from $19.7 billion to $17.2 billion. That was because of a fall in "off the plan" purchases; purchases of existing dwelling stock increased to $5.4 billion (it had fallen in 2011-12), and purchases of vacant land had more than doubled to $1.4 billion. Victoria and New South Wales dominate as destinations for foreign investment in residential property, garnering around $5.8 billion and $5.5 billion respectively.
But importantly, foreign residential real estate investment skews toward new dwelling construction: in 2012-13, despite the fall-off in off-the-plan purchasing, $8.64 billion in foreign investment was for new dwellings, with a further $2 billion for other development, while investment in existing dwellings was $6.4 billion. The predominance of new dwelling investment in foreign residential investment is dramatically at odds with the rest of the market, where new dwelling investment is a fraction of housing finance.
Where does the investment come from? Residential property investment from China is substantial. Chinese buyers are the biggest foreign real estate investors: in 2012-13 they purchased just under $6 billion in real estate -- but that includes commercial real estate, which is twice as large a target for foreign investment as residential real estate. But Canada and the United States aren't far behind the Chinese; Canadians invested just under $5 billion in Australian real estate, and Americans $4.4 billion. Singapore was next with $2 billion, then Malaysia with $1.6 billion; in between were the British, on $1.7 billion.
So, even arbitrarily and xenophobically combining all Chinese, Singaporean, Hong Kong and Malaysian real estate investment under a "Chinese" stereotype means "China" is only just ahead of North American real estate investment (and again, remember that these figures include commercial real estate). And if you lump in the Brits and the Kiwis, investment from "white" foreigners exceeds that from "Chinese" foreigners.
Read many stories about white people driving up Sydney real estate prices? Of course not. Hard to get a good anecdote about white people showing up to an auction and bidding successfully for a property. "Chinese" buyers, even if their families have lived in Australia for a century, are easier to spot and complain about.
But let's assume that all "Chinese" property investment -- just over $10 billion of it in 2012-13 -- was for residential property, which we know isn't true. How much of an impact does that have? The total value of housing finance commitments (which isn't all housing purchases anyway) was $264 billion in 2012-13, so our "Chinese" stereotype is investing less than 4%.
And even if you think 4% is too high and is placing too much pressure on prices, ask sellers in Sydney and Melbourne what they think of foreign residential buyers. Chances are they're perfectly happy to be getting higher prices.
There are legitimate grounds for concern about housing affordability, but they've got little to do foreign property buyers, whether Chinese, Canadian or any other ethnicity. They're related to land supply, planning laws, development approval processes, NIMBYism, the balance between local councils and developers financing the necessary infrastructure for new housing, and tax expenditures that encourage investment in existing housing stock. The best way to improve housing affordability -- assuming that's what you really want to do, given ultimately that will reduce the rise in value of the key asset of most voters -- is to create incentives for investment in building new housing stock.
And oddly enough, at the moment it's foreign investors who are doing that, not the rest of us.
This article first appeared on <a href="https://www.Crikey.com.au" target="_blank">Crikey</a>.
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bkeane-XQ2u7CA6bB

Is there a Chinese real estate invasion? Not according to the data, fellas

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16 Degraves Street is going up for auction, in the the first offering on Melbourne’s iconic CBD laneway since 2011.
One of Melbourne’s busiest laneways, Degraves Street is a major tourist attraction and currently has zero vacancies. 16 Degraves Street is currently leased to Italian restaurant Il Tempo, with a new five year term with three further five year options. Il Tempo brings in $155,000 per annum plus GST to shop’s owners, with fixed annual increases of 4%.
The licensed café and bar is being marketed by Stuart Taylor and Mathew George of JLL, who are auctioning the property on Thursday April 3 on behalf of insolvency firm Ferrier Hodgson, who have been appointed agents for the mortgagee.
According to George, the agents are expecting a highly competitive sale.
“Given this is the first on-market investment opportunity since 2011 in such a rare and iconic location, we have every confidence that 16 Degraves Street will be well received by the investor market, and generate very strong competition at auction.”
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
                     
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jrichardson-uRX5hFdKfN

Degraves Street: piece of Melbourne laneway icon on the market in mortgagee sale

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This weekend the Western Australian property developer launched Toccata (pictured), the latest development in its four building Symphony City project in East Perth.
The new development from Finbar is located on Terrace Road in East Perth, one street back from the waterfront along the Swan River. Finbar’s Symphony City comprises so far of the newly completed Adagio and Toccata, both residential developments.
The site will also include the yet to be launched mixed-use Concerto and Harmony developments. Finbar paid $37.48 million for the former ABC site in 2008, obtaining a minor town planning amendment scheme in a joint venture with Ventrade Australia, a subsidiary of the Singaporean Chuan Hup Holdings.
Last week, the City of Perth’s Assessment Panel approved plans for the $220 million Concerto development on the site. Concerto is set to become Western Australia’s tallest apartment building upon completion, with 226 apartments over 38 levels. The ABC’s former administration building will be converted into 17 studio and one bedroom apartments as part of the development.
Toccata, which is now selling, comprises 45 three bedroom, two bathroom residences. The new residential complex includes a heated lap pool, a gymnasium and an in-house private theatre. Each of the development’s 22 floors has a maximum of two apartments, which are priced from $1,298,000.
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Finbar launches Toccata, latest stage in Perth’s Symphony City

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Forget that supposed over-crowded black Mercedes van carrying around would-be Chinese buyers to prestige Sydney open for inspections.
An Australian expat has snapped up the grand 1904 Mosman merchant home, Rona (pictured above) for $8 million plus ahead of this weekend's Belle Property auction.
Some 60 parties had inspected Rona which sits on a 1,445 square metre Bradleys Head Road block.
The Miller family bought the property back in 1987 for about $2.1 million with the subsequent restoration and modernisation by architect Michael Suttor.
The founder of Millers Self Storage, who sold the business in 1999, now plan spend more time at their beef cattle property near Jugiong.
As I wrote last week, those expatriates are beginning to capitalise on the lower Australian dollar, especially when they are experts in the currency rollercoaster. 
ANZ Singapore based Eddie Listorti recently spent $6.55 million at Palm Beach, for a Sydney northern beaches holiday home. 
Designed by architect Michael Fountain, the three level house (pictured below) comes with 18 metre infinity pool with a floating observation terrace. Positioned on the beach side of Northview Road, with views that span the length of Palm Beach - north to the Lighthouse, south to the rock pool - it was sold by the Doughman family through LJ Hooker Palm Beach agents David Edwards and Amethyst McKee. 
<a href="https://palmbeach.ljhooker.com.au/2JZF6Z" target="_blank" rel="nofollow">It was listed</a> at $7.25 million last October.
<img src="/images/stories/2014/03/11/palm-beach-march-11-breakout.jpg" width="460">
In 2010 Eddie Listorti, former global head of fixed income, currencies and commodities at Dresdner Kleinwort, took the job as head foreign exchange and commodities at ANZ. His title is now ANZ's co-head of fixed income, currencies and commodities in Singapore. 
In 2010 he spent $6.5 million on a Mosman home,  Melleray, the Federation home situated on a 1,975 square metre block a few minutes from Mosman village. 
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jchancellor-FAypfDUnLy

Expats emerging from hibernation as Mosman's Rona sold pre-auction for $8 million plus

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Over recent months we have seen a number of high profile residential projects going to market and achieving spectacular sales results, with entire buildings or releases quickly sold out. The market is responding to strong demand driven by a major shift in demographics, local and off-shore investor appetite for property and a market that is still characterised by undersupply, in some markets chronic under-supply. However as a result of this strong demand matrix one group, the first home buyer (FHB), appears to be missing out.
This is not only apparent in many off the plan markets, but is also a stark factor for established homes and in NSW the FHB market is down to 9% of activity, and so the question is should we be doing more to help first time buyers into the market?  In particular at a time of low interest rates these buyers should be more active, but despite some limited help and concessions they are not.
Tough times for the FHB are not only confined to the Australian market, there have been similar concerns in the United Kingdom, where a new range of measures to help have recently been introduced and the big change was to extend assistance beyond the new build buyer. The UK’s so termed Help to Buy schemes now include established homes. As our government appears to be shying away from almost any sort of assistance for anyone, the UK example heads in the opposite direction with a package of assistance.
Mortgage guarantee
Here’s how it works, since October this government scheme was extended from only newly built homes to include established homes up to a value of £600,000 (that’s about A$1,003,000). In part this shows you how unrealistic the current local concessions at a ceiling price of $650,000 are. Buyers need a minimum 5% deposit, they have to borrow from a participating lender and it must be the buyer’s only property.
The government for its part guarantees repayment of the mortgage to the lender, and the scheme is expected to run for some three years. With many local suburbs (185 plus in Sydney) now looking at median prices of $1m this sort of package would be welcomed in the Sydney market.
Equity loan
This government helping hand in the UK is very different and nothing like this has been seen here, apart from a very small number of ‘one-off’ housing co-operatives around in the 1970s. Here’s how these equity loans work. They are limited to homes, new homes valued to £600,000 being purchased by first time buyers, who must have a 5% deposit. The government then kicks in 20%, and here’s the interesting point, the loan is interest free for five years. So the first time buyer then only has to find 75% of their loan.
After five years the ‘equity loan’ attracts a fee of 1.75% of the loans value, which is adjusted each year to the UK equivalent of our CPI. The 20% loan has to be paid back when you sell, but that’s 20% of the sales price, not the original loan – hence the government and the UK taxpayer share in the capital growth of the home. Here such equity loans, possibly linked to superannuation have been ‘talked’ about, but that’s it.
Sometimes I do question the rigid instance that personal superannuation is locked up away from home buyers. Yet via self-managed funds, some super can be invested in real estate, which possibly compounds the plight of some first time buyers. In the UK these equity loans have been around since April last year.
New buy assistance
This is another scheme linked to new builds and involves co-operation between private lenders and some major builders. The scheme is limited to new homes valued to a maximum of £500,000 and is open to buyers with a minimum 5% deposit.  The basic idea is to make available to these buyers more attractive loan rates, which are usually only accessible to buyers with big deposits. This is a private not government backed idea.
Shared ownership
This is another idea floated locally, but is not common. The idea is that via the participation of private developers and housing associations, the FHB buys a percentage of their new home; usually 25% and then they ‘rent’ the rest at below market rates. As more money is available by a process known as ‘staircasing’ buyers then increase the percentage of the home they are buying and over time own more of the home and pay less rent.
To be eligible the rules are that you must be a first time buyer, or someone who used to own a home, they can no longer afford to buy that home and you need to earn less that an average of £60,000 – a little more if you live in London.
More imagination needed
These few ideas look like someone applied a lot of imagination to the problems of the first home buyers. Here we have failed to do so.  Our banks make huge profits, they could afford to be a lot more innovative, and why do we not use superannuation savings more in this area? The social benefits of home ownership are obvious and the benefits of a big boost in home building construction would as is already evident, help the economy even more to move from the mining boom, so why are we not doing more?
 
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pchittenden-eLqUUC8TWW

What can we do to help out first home buyers?

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Many of those who advise people where to buy do so under false pretences.
They bring to the game a set of cherished attitudes which are unshakeable, unchallengable and unmitigated nonsense.
What they don’t bring is research-based knowledge, or a clear understanding of the factors that drive capital growth over time.
For some of these pretenders, the list of criteria has just one element: proximity to the CBD.
Why do you think this suburb is a hotspot? Because it’s five minutes from the CBD. Why is this other suburb a no go zone? Because it’s an outer suburb, a long way from the CBD.
That’s pretty much it. You can’t expect capital growth unless you’re walking distance from the tall office buildings.
One real estate service provider recently nominated the City of Armadale as an area to avoid in Perth because it had no capital growth potential. It was too far from the Perth CBD.
In reality, the City of Armadale is the capital growth king of the Perth metropolitan area in the past 12 months, with most suburbs delivering double-digit price growth, headed by Brookdale which grew 16% and Mt Richon which grew 20%.
<blockquote>
In most of our major cities the highest long-term capital growth rates are delivered by places a long way from the CBD.
</blockquote>
This is someone who makes his living advising people how to grow their wealth through property investment. Apparently capital growth is not part of the plan.
A Sydney buyer’s agent, asked by a newspaper to nominate the five best places to buy, reccommended a bunch of “prime” suburbs. Again, it appears the clients of this un-researched buyer’s agent are interested in elements other than capital gains, because “prime” Sydney has been the worst-performing sector of capital city Australia over the past 10 years, notwithstanding the growth experienced in 2013.
To base your assessment of a location’s worth on proximity to the CBD is not only simplistic but shows a lack of the elements that matter in real estate.
Here are five things that it’s better to be near than a CBD:
<ol>
<li>
Jobs nodes: “Experts” who think you have to be close to the CBD to be worth presumably think everyone works there. News flash: factories are not found in CBD. Nor are warehouses, maintenance facilities, airports, export ports, distribution centres, regional shopping centres, transport depots, abattoirs, hospitals, universities (with some exceptions), oil refineries, heavy industry and a host of other major employment nodes. The key thing that decides location for many home buyers and renters is proximity to work – and for many that means Frankston or Dandenong rather than Docklands.
</li>
<li>
Commuter train links: Hotspotting research has shown conclusively that train suburbs, on average, have higher capital growth rates than non-train suburbs. Public transport is a key criteria for people selecting location – and trains outrank buses and trams in that regard. Even if they do work in a CBD, people don’t feel the need to be within walking distance of it if they have access to rail links.
</li>
<li>
Education-medical nodes: Hospitals and universities often cluster together in our major cities. These clusters are important in real estate because they generate tremendous demand for real estate accommodation. Suburbs near these precincts usually have very low vacancy rates. And in most cases (North Melbourne is an exception) these clusters are found well outside the CBDs.
</li>
<li>
Major shopping facilities: CBDs all over Australia, in regional centres as well as capital cities, have had to reinvent themselves since major shopping centres were developed in the suburbs and attracted the shopping spend away from city centres. Proximity to regional shopping centres can be the deciing factor in locational choice.
</li>
<li>
Schools: For some families, proximity to a particular school is the No.1 factor in deciding location. And for most, a location won’t rate unless it provides convenient access to schools.
</li>
</ol>
Why are all these elements more important than being within cooee of the CBD? Because affordability rules. It drives the great mass of demand to places that are nowhere near the city centre.
Mass demand creates capital growth, not so-called quality homes, nor consistent Victorian or Edwardian streetscapes (which is the one-track record from one deluded adviser), nor “prime” locations (defined as high-class suburbs with million-dollar homes).
The great mass of demand goes to the locations where the houses are affordable. And when it comes to choice among the attainable suburbs, its proximity to jobs nodes, transport links, shopping and schools that drives decision-making. CBDs don’t feature in the argument.
That’s why, in most of our major cities the highest long-term capital growth rates are delivered by places a long way from the CBD.
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terryryder-YECXbqmri2

Close to the CBD is not all it's cracked up to be

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As more property data is released we are fast seeing concerning scenarios that raise more questions than answers.
Although it was not well documented it is clear that the previous Labor government relaxed foreign ownership regulations to appease the state governments who were experiencing revenue drains, as these changes then topped up stamp duty revenues. The only problem is that the two standout property players are Chinese buyers and investors who are busily topping up their self-managed superannuation funds (SMSF).
Given that the Abbott government decided that a Housing Minister was not warranted in their new government, it appears that the weight of this portfolio now rests firmly on the shoulders of Reserve Bank Governor Glenn Stevens who is trying to balance Australia’s property imbalance.
The latest figures from the Foreign Investment Review Board (FIRB) reveal overseas buyers purchased a record 5,091 established homes worth $5.4 billion last financial year, compared with 647 properties to a value of $810 million in 2009-10.
There is very little that the Australian government can do about the SMSFs, we are hearing strong rumours that in the May Budget the government will shut down the Chinese property splurge. Which many will argue is a good move for the long-term property markets given the overseas buyers are paying over and above the expected market price. More particularly with the Abbott government fighting opinion polls, such a move could vastly improve its consumer ratings.
With the Reserve Bank of Australia (RBA) deciding to leave the cash rate at 2.50% for the foreseeable future, such a move would open the property markets up again to the first home buyers who have been swamped by the overseas buyers and investors. The RBA released their financial aggregates to January 2014 this week which shows that investment and housing lending has reached $1.33 trillion. This now takes investment loan accounts to 32.9% of all loans, which is the highest ever recorded in Australia.
<a href="https://www.rwm.com.au/files/2014/03/18-02-2014-3-02-34-PM.jpg"><img class="aligncenter size-full wp-image-8454" src="https://www.rwm.com.au/files/2014/03/18-02-2014-3-02-34-PM.jpg" alt="18-02-2014 3-02-34 PM" width="460" height="279"></a>
Let’s face it, whilst new housing construction data showed an increase this month we are kidding ourselves if we believe we are keeping up with market demand. A recent study by Digital Finance Analytics estimated that over the next three years Australia will need more than 900,000 new properties to meet demand, when over the last 12 months Australia only managed to achieve 183,000 units. That would be a fail with a capital F! Given that <a href="https://www.smh.com.au/business/property/locals-priced-out-by-24b-chinese-property-splurge-20140305-346hd" target="_blank" title="locals priced out by $24b Chinese property splurge">locals priced out by $24b Chinese property splurge</a> where a report by Credit Suisse said: “A generation of Australians are being priced out of the property market. Many face a life time of renting.”
<a href="https://www.rwm.com.au/files/2014/03/3-03-2014-9-42-07-AM.jpg"><img class="aligncenter size-full wp-image-8456" src="https://www.rwm.com.au/files/2014/03/3-03-2014-9-42-07-AM.jpg" alt="3-03-2014 9-42-07 AM" width="460" height="244"></a>
Another factor that will have significant repercussions was the decision by the Canadian government on February 11 that a 28 – year old visa scheme designed to attract wealthy foreigners to the country would be axed, effective immediately. This announcement will bring greater attention to Australian real estate markets, which in turn will add additional pressures on the local markets to compete against the tsunami of funds coming into the country. Once word gets out that the Australian government could follow that same path as the Canadian government we will see quite possibly the strongest and most aggressive foreign acquisition activity ever seen before in Australia.
<a href="https://www.rwm.com.au/files/2014/03/28-02-2014-4-11-49-PM.jpg"><img class="aligncenter size-full wp-image-8458" src="https://www.rwm.com.au/files/2014/03/28-02-2014-4-11-49-PM.jpg" alt="28-02-2014 4-11-49 PM" width="460" height="273"></a>
We are right in the middle of the four week period in 2013 when Mosman houses sat above the 100 mark – it now appears that it is highly likely that Mosman won’t break the 100 mark in 2014. Should this be the case then that would the first time in decades that this has happened.
The simple reality of our property markets are that stock levels are at all-time lows which place that responsibility firmly at the state and federal governments where significant policy changes will need to be implemented. The current Senate inquiry into affordable housing won’t offer an iota of intelligent reasoning or solutions.
What remains to be seen is whether or not the Treasurer Joe Hockey has the fortitude to make such a decision? My tip is that yes he will.
 
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