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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As anyone who lives in a bushfire prone area knows, fire doesn’t discriminate. Earlier this month, Barefoot Investor Scott Pape and his family sadly lost their home as fires engulfed Romsey, Wallan and Kilmore in Victoria, showing that even the savviest homeowners can find their property in peril.
A CFA member, Pape wrote that after his wife and son left the area, as they always do on potentially bad bushfire days. He remained, and with others fought to protect his property, before rounding up his livestock and evacuating his dogs.
Thankfully, the Pape family is safe. But they and many others are now faced with the reality of restarting their lives after losing their homes in tragic circumstances. While the emotional and physical effects of the bushfires will be long felt, those losing their properties must also bear the financial cost of the fires.
For those in areas prone to bushfires, insurance is one of the key ways to protect yourself in the event that your property is lost. Home building and contents insurance, offered by most major insurance providers, can offset a good proportion of the financial costs of losing your home.
Make sure you understand exactly what level of coverage you have under your insurance plan when you purchase it. And before bushfire season begins each year, take the time to go over your insurance policy again to make sure it covers all of your major assets.
When it’s time to renew your policy, or when purchasing it, it’s worth making an inventory of all the assets you want to insure in your home. As for the home rebuild itself, get a builder in to get a quote for the cost of rebuilding your property should it be destroyed. These can be time consuming tasks, but ones that will ultimately help you make the best decision about the appropriate level of coverage and hopefully reduce any hidden costs further down the line.
If your home is damaged or destroyed by a bushfire, make sure you photograph any damaged goods as evidence for your claim before you discard them. As always with insurance claims, the more evidence, the better – this is where your inventory of goods will come in handy again, so you can keep track of exactly what has been damaged for your claim.
It’s also a good idea to contact your insurer as soon as possible to begin processing your claim and so that you can get started on any major repairs quickly.
If your vehicle is damaged, your insurer may also be able to provide you with an interim vehicle while your claim is being processed. And remember, the insurance market in Australia is highly competitive – shop around before picking your insurance policy.
For many rural residents, the loss of their property also means the loss of their income generating asset, whether that’s a farm or a bed and breakfast. While most insurers only offer income protection for individuals who cannot work due to injury or illness, your state government may offer support following a natural disaster, as the <a href="https://www.humanservices.gov.au/customer/services/centrelink/dra-nsw-bushfires-october-2013" target="_blank">NSW government did</a> after the bushfires of October last year. However, there’s no guarantee that this will be provided, and it isn’t available for those who lose their homes in circumstances that don’t have a wide impact, like a house fire. As always, it helps to have some savings on hand to make up for any loss of income.
The loss of one’s home is always an incredibly difficult experience. There will always be an emotional cost, no matter what you do. But at the very least, a good insurance policy or sound forward planning may protect you from some of the financial burden, and free up your attention to focus on the bigger things.
Our thoughts are with all affected.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
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jrichardson-uRX5hFdKfN

Losing your home to bushfire: How to protect yourself financially

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Recently there has been some national media commentary about an apparent slump in the number of first home buyers, with commentators saying this is due to unaffordable prices and competition from investors.
It’s important to note that this speculation is very east coast based and bears little resemblance to what’s happening here in Western Australia. Let’s look at the facts.
When the First Home Owners Grant (FHOG) was introduced in July 2000, this mechanism became a good way to record this demographic in the market. There were 1,430 FHOG applications across WA in July 2000 and the median purchase price for established homes among entry level buyers back then was $122,000.
Thirteen years later in June 2013, there were 1,840 first home buyers paying a median price of $430,000 on established property.
After more than a decade the numbers are steadily growing despite the accompanying price growth for dwellings.
For the last couple of years first home buyers have benefited from historically low interest rates, a stable and recovering housing market and the ongoing exemption from stamp duty for homes under $500,000. They are also eligible for a $3,000 grant when buying an existing property or $10,000 if building a new one.
This combination of factors has prompted very strong first home activity, particularly through 2013.
In recent years the number of first home buyers each month has been fairly steady at around 1,500 each month. For the past year however, it was trending up with monthly figures closer to 1,600 and 1,700 applicants. In October last year there were 1,969 applicants seeking to enter the first home buyer market and in December there were 1,573.
Around 20,000 first home buyers made their move last year. The Office of State Revenue reports that the median purchase price on established dwellings for first home buyers across the state is currently $438,000. That’s up by $28,000 on the same time last year and by $43,000 on 2012.   Of course the median is only the middle price which means that half of all first home buyers are purchasing under $438,000 and there is plenty of stock under $400,000, including house and land packages.
The percentage of first home buyers as a proportion of the overall housing market has been above average for some time and last year was at times almost 30% of the whole market.
There is little evidence that first home buyers in WA are being frustrated by competition from investors, as they are weak in the current market due to soft rents. While home affordability itself has rarely been better and this is reflected in the significant numbers of FHOG applicants and swift turnover with homes under $450,000.
David Airey is president of the <a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a>
<a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx"></a>This article was originally published on <a target="_blank" rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
     
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dairey-MVZf5ZguQC

WA is booming for first home buyers, unlike the east coast

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1) Get savvy with the latest online tools.
Identify the online tools that will add value to either your property investing skill sets, to your portfolio, or both. There are so many little online ‘life hacks’ available to investors. For example, and this is only the tip of the iceberg, but consider tools like DSR walk score calculators, Zillow.com, Real Estate View, RP Data, loan repayment and stamp duty calculators, and so on.
2) Network digitally with your comrades.
Don’t treat them as competitors, but rather allies. In this social media age there is no excuse not to be able to find like-minded people you can learn from. That’s how I started out years ago, by connecting with people on the Somersoft forums (which I still maintain is one of the best online property investment communities in Australia).
You may be able to engage with experienced investors who may have a better understanding of a particular concept or a more specific property investing topic. LinkedIn offers excellent community groups with real-time conversations happening on the daily. Twitter is intelligent too; once you establish a group of investors and influential property people you follow (and a few follow back), Twitter’s engine will go out and find more of those types of people for you.
3) Attend events and talks.
Don’t just rely on online communities, look at attending events such as the Home Buyer and Investor Show, and also local property investment shows and seminars. Just be able to discern between an unbiased third party seminar on a topic and a property development spruiker trying to sell their wares.
There is actually a great online site called Meetup.com, where you can meet like-minded people in life – related to any interest. The idea is you join a group but they regularly meet up in person to share their passion. I’ve done this for things like tennis and surfing, but there are groups that meet up in pubs and cafes – who are also investors like yourself! You can learn so much from each other in this way.
4) Read. A lot.
I know I have previously written about the challenges of ‘analysis paralysis’, however I still think it is so important to read a lot.
Approach every article, book, magazine, or online blog post – no matter the property-related subject of it – with a view of ‘how will this trend/tactic/design style etc. pay off in terms of my overall return? If you don’t think it will – stop reading that content and move on to something else!
Investors, like so many people in life, form bad habits. Read content from more sources – books, magazines, websites, forums – to better inform yourself. Over time you will also find better quality content specific to what you are looking for.
 
5) Have an open mind and flexible approach
Unlike most things in life where the mantra is ‘it’s not about the destination, but rather the journey’, property investment is the complete opposite.
It’s the other way around. It is entirely about the destination, that being your financial future and security.
Where am I going with this? Have an open mind to property types and locations that, despite your initial distaste when considering them, actually stack well from an ‘end game’ numbers perspective.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" rel="nofollow" href="https://www.propertycorrespondent.com.au/">Property Correspondent.</a>
 
 
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cmcevoy-Go82SmsJA9

Five tips to become a better property investor

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In footy parlance, this past weekend was a bit like the pre-season competition.
But things are charging back into the big time this week, with February 22 and the following week March 1 both looking like being Super Saturdays and there are some really interesting homes on offer across Melbourne in that $1.5 million to $3 million plus price range.
On a personal note it was certainly good to be back and out there bidding this weekend. I love being back full-time on the tools, knee deep in the puddles of emotion dotted across Melbourne on a Saturday -  the smell of fear, the looks of anticipation, the cringes of excitement and the hush of <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with uncertainty" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/uncertainty/">uncertainty</a> all rolled into an incredible 15 minute sensory overload. 
If you’ve had your ear to the ground you might have noticed that there is a lot more happening in Melbourne $1 million property than auctions right now.
Expressions of interest
This is a form of buying/selling that is increasingly taking place in the inner Melbourne market.
Expressions of interest might seem straightforward. You put in your price and a deal is done. But you need to understand the unwritten rules – because in a way what they are a game of poker: of bluff and counter bluff, of maneuvering, of patience and of risk – with high stakes, indeed very high stakes for all involved, and few or no rules.
High stakes poker in Kew
Have you seen the home at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-kew-116005755">22 Rowland St, Kew</a> (pictured below), markerted through Scott Patterson and Ross Savas of Kay and Burton?
{yoogallery src=[images/stories/2014/02/20/kew]}
I’m calling it The Biosphere and I mean that as the highest of compliments – go inside and you are totally immersed into the space, light and moods created by the owner and the architect Nick Boschler. 
But this article is not all about the home at 22 Rowland, it is also about the high stakes poker game you will need to play to be the buyer. This is a genuine expression of interest – there is no bulltish quote and no bulltish rules from <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with kay and burton" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/kay-and-burton/">Kay and Burton</a> – it’s put in what you think and then they will talk.
So, what price in the first instance do you offer, what terms and through which agent at Kay and Burton? There were four agents on the job when I visited and it was mid-week.
How do you make that offer – verbal, in writing or on a contract? Do you have a deadline, is it conditional and is your offer negotiable or firm? Pretty straightforward so far, with only about 20 different combinations.
But wait there is more – what happens when they say no, or more to the point what if they don’t say no but they don’t say yes either? What is your next move and the one after that? And what about the questions – the 10 or 20 any good selling agent will ask you under these circumstances? How do you answer them – openly or guardedly or should you just not answer them at all?
Once you put in your actual expression of interest, that is when things will get interesting. Even if you put in your best price, the agent will probably think it wasn’t and even if he or she does believe you, his or her vendor probably won’t. And so the dance starts – backwards and forwards, upwards and downwards – though probably more upwards or sideways than otherwise.
The thing to remember is that expressions of interest are long distance runs not sprints.  So after a week or so – unless you are 'High and Mighty Charlie' with a limitless chequebook – the agent is likely to tell you that you have a new friend, no not him, it's another buyer. And so a new dance begins, only this time it’s more of a group conga than the previous intimate waltz. Well, that’s what you are made or may think.
So back to 22 Rowland – this really is the right type of campaign for the seller, as the buyer is going to be a special one. Of course the seller also knows he or she is involved in the same game and there are some risks for a seller in an EOI process – where the rules can be vague and the way forward a little unclear. Sometimes buyers drop out or just don’t start the engagement process as their fear of uncertainty is greater than their love of the home.
How much is this ethereal creation at 22 Rowland worth? Is it $3 million or is it $9 million?
That is the question. So what is the answer?
We can’t tell you specifically at this stage, but the way we would go about finding that out involves relationships and truths, as well as a number of judgments and non judgements.
We’re not trying to be a smart alecs here. What we are trying to say is the answer to securing 22 Rowland lies in the process more than a specific number.
Off-markets
Another trend taking place is the “off-market”. Off-markets, are where properties are bought and sold without any 'for sale' board, advertising or internet marketing. This week the mysterious off-market widened and continued – especially at the very high end. As a group we have been looking and dealing in homes in Bayside, Port Phillip, <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with Stonnington" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/stonnington/">Stonnington</a> and Booroondara that to the casual passerby show nothing to indicate a transaction may be happening.
Note to Sellers: If you have a family home for sale, you know your price and will allow access to our buyers and can get <a style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;" title="Posts tagged with contracts" rel="tag" class="st_tag internal_tag" href="https://marketnews.com.au/tag/contracts/">contracts</a> if requested, then we can in many cases bring a very real, but private buyer to your door.
We recommend you get a selling agent to represent you, but that is your call whether you do or you don’t.
Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank" rel="nofollow"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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The high stakes poker game of expressions of interest

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In an unusual move, Mission Australia and the Business Council of Australia last year <a href="https://www.theage.com.au/comment/are-we-mature-enough-for-a-genuine-tax-debate-20130825-2sjo9">co-authored a piece</a> calling for a mature and open conversation about tax reform. They joined a chorus of voices, from the <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CCwQFjAA&amp;url=http%3A%2F%2Fgrattan.edu.au%2Fstatic%2Ffiles%2Fassets%2Fff6f7fe2%2F187_budget_pressures_report.pdf&amp;ei=RzMdUrPKCsyfiAfN4oCwDw&amp;usg=AFQjCNHinxucpcUF2nYOLPqyHAyZXTAxMA&amp;sig2=j4rxRSdFQWC6xSixmxPS1A&amp;bvm=bv.51156542,d.aGc">Grattan Institute</a>, to the <a target="_blank" href="https://www.pwc.com.au/media-centre/2013/tax-reform-jul13.htm">CEO of PwC</a>, to <a href="https://www.theage.com.au/comment/full-transcript-saul-eslake-20130812-2rsnr">Saul Eslake</a>, all concerned about structural problems with our taxation system. Government revenues are in trouble, in part, because of the looming end of two great economic booms.
We’re all familiar with the tale of the squandered mining boom but a less familiar narrative is that of the squandered baby boom. Baby boomers are now starting to hit retirement age, striking fear into treasury and health bureaucrats worried about the spiralling costs of health-care and age pensions combined with falling tax receipts.
While increased life expectancy contributes to population ageing, the primary cause in the 20th century was falling fertility rates (number of births per woman). This is important in understanding the boom. An increase in the proportion of the population that is retired (old-age dependents) occurs as a result of a decrease in the proportion of the population that are under working age (child dependents). However, there is a lag between the two which means we have an economic sweet spot that is referred to as the “demographic dividend”, where there are fewer total dependents as a proportion of the population (see the area between the dashed lines in Figure 1).
<a style="font-size: 0.8em;" href="https://c479107.ssl.cf2.rackcdn.com/files/30865/area14mp/ttfgt9bf-1378447095.jpg"><img width="470" src="https://c479107.ssl.cf2.rackcdn.com/files/30865/width668/ttfgt9bf-1378447095.jpg"></a>
<a style="font-size: 0.8em;" href="https://c479107.ssl.cf2.rackcdn.com/files/30865/area14mp/ttfgt9bf-1378447095.jpg"></a>Figure 1: Dependency ratios in Australia 1950-2050. Data points after 2010 are projections based on an intermediate birth rate scenario. Data compiled from https://esa.un.org/wpp/
This is the economic boom provided by the baby boom generation. The historically low total dependency ratio shown in Figure 1 meant that, for a 25 year period, more money was free to be used for discretionary spending and investment. This helped to propel economic growth and drove up incomes – and the effect was even more pronounced because it happened to coincide with major economic reforms. It also helped set high expectations on what the average Australian could afford to buy and the lifestyle they could afford to lead.
Instead of seeing the coincidence of the height of the mining boom and the baby boom as an opportunity to save for the retirement of the baby boomers and to foster industries to shoulder the burden after the inevitable decline of the mining sector, the Howard government put in place permanent income tax cuts. These were extended under the Rudd government. Now that these temporary booms are both coming to an end, those tax cuts are really starting to bite and it is becoming increasingly difficult to adequately fund the services we’ve come to expect from a modern western economy.
We are not yet entering an unprecedented level of dependency. It will take until about 2035 before we return to the dependency levels seen in the 1960s. However, there is clearly a major shift from young dependents to old-age dependents. If the costs were the same and borne by the same people, there would be no problem. But many changes have occurred. The savings from the reduction in family size have been applied to discretionary consumption, including much higher expenditure per child, so the total cost of raising children has actually increased. Little is left for transfer to expenditure on aged dependents.
How will we face this challenge? Will we keep the age pension down near the poverty line and continue to cut other government services in order to pay the rising total pension and healthcare costs as more and more baby boomers retire? Or will we take account of the shift in dependence we see in Figure 1, acknowledge the role that the baby boomers have played in the country’s economic prosperity over the last 50 years and provide them with a retirement income that allows them to live in dignity and with access to a few of the luxuries available to a modern developed country?
Australia is a low tax country by OECD standards. We can well afford to provide the baby boomers with a decent standard of living during their old age. But just how would we find the revenue? The possibility exists to use the end of the mining investment boom to finance the retirement of the baby boomers.
The distinction between mining investment and mining production is important here. It’s not the boom in mining itself which is slowing down; it’s the mining investment boom. Many more people are employed during the establishment of new mines than are employed running the mines once they are in production phase.
With the mining investment boom coming to an end, a mining production boom will follow. Most of the proceeds of the mining production phase will be exported as profits by largely foreign-owned mining companies or pocketed by the likes of Gina Rinehart and Andrew Forrest.
The Australian public owns the resources in the ground that the miners dig up and sell. When we talk about mining income, what we’re mostly referring to is asset sales, not real income. You don’t sell your car and call that money income. The mining companies add value to the resources by digging them up and putting them on a ship in an accessible form but they do not create the value of the resources themselves. Yet it is primarily the mining companies that benefit from high resource prices, rather than those who own the resources (Australian citizens). This is the very definition of economic rent; it is profit that the companies do nothing to earn which is in excess of industry expectations.
Australian citizens deserve a reasonable return for selling their assets to the mining companies and a well-designed resource rent tax would deliver that return. This revenue could be placed in a sovereign wealth fund, <a target="_blank" href="https://www.abc.net.au/lateline/content/2013/s3736272.htm">similar to Norway’s</a>, the proceeds of which could assist with paying pensions or be used to maintain and improve public services such as education and health. The one-off sale of assets should be invested in the future in some way, rather than just be used to plug holes in the budget of the present day.
Of course, resource taxation is just one of the many possibilities for increasing tax revenue. The <a target="_blank" href="https://taxreview.treasury.gov.au/Content/Content.aspx?doc=html/home.htm">Henry Tax Review</a>, completed in 2009, is full of very sound recommendations, 95% of which have been completely ignored by both Labor and the Coalition. <a target="_blank" href="https://theconversation.com/bca-wants-your-home-taxed-and-its-actually-a-good-idea-16630">Land taxes</a> are another good option, as is a <a target="_blank" href="https://ec.europa.eu/taxation_customs/taxation/other_taxes/financial_sector/">financial transaction tax</a>. Even increasing the GST is a viable option assuming adequate compensation for low income earners is included as part of the package.
Tax reform is difficult. It takes leadership because there are always losers and losers shout louder than winners – who tend to slink away with their proceeds and quietly hope nobody notices. Is there a major party political leader on the horizon with the sort of courage, honesty and charisma necessary to convince us of the need for tax increases and to resist the inevitable, well-funded backlash? Not that I’ve seen. But for the sake of those baby boomers facing decades of retirement spent in poverty, I hope that one emerges soon.
Warwick Smith is a postdoctoral research fellow in environmental economics at the University of Melbourne.
This article was originally published at <a target="_blank" href="https://theconversation.com">The Conversation</a>.
 
<img src="https://counter.theconversation.edu.au/content/17953/count.gif" alt="The Conversation" height="1" width="1">
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Ageing population and mining: A tale of two booms

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Investors are being offered a rare opportunity to acquire a 50% share in the new Queensland headquarters for GE Australia in Springfield Central.
The soon to be completed GE Queensland headquarters, located in the central business district of Australia’s largest master planned city, Greater Springfield in the heart of South East Queensland, is being offered for sale with three adjoining future development sites.
The 31 Barry Alexander Drive site - known as Parkside - has a total land parcel of 16,880 square metres.
Knight Frank’s Grant Whittaker and Ed Sutton, in conjunction with Savills Peter Chapple and Anthony Ott, <a target="_blank" href="https://www.spacehero.com.au/listing/Brisbane-Cbd-6322">are marketing the GE building and development projects</a> on behalf of master developer, Springfield Land Corporation.
“Comprising 12,500 square metres of A-grade office accommodation over five levels, the Parkside project will be a landmark asset designed by leading architects Conrad Gargett Riddel and anchored by one of the world’s largest corporations,” said Mr Sutton.
On completion, Parkside will comprise an ultra-modern office tower with ground floor retail and secure basement parking for 229 vehicles. The building is targeting a 4.5 star NABERS rating.

Mr Sutton said the residual land contained in the project’s commercial precinct provided an opportunity to partner with the master developer, Springfield Land Corporation, to undertake a joint venture for the development and delivery of the three separate but adjoining lots. The lots are known as Parkside Two, comprising 1,790 square metres, Parkside Three 4,745 square metres and Parkside Four 5,345 square metres for uses including commercial, hotel and retail, he said.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a> 
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Investors offered chance to purchase 50% stake in new Queensland headquarters for GE Australia

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Serviced office provider Servcorp said it was on track to deliver continued earnings growth in the 2014 financial year after handing down a 20% lift in interim net profit.  
Net profit after tax came in at $11.12 million for the six months to 31 December, on revenue growth of 15%.  
Like for like occupancy across the group was steady at 78%.
Excluding North Asia and the ANZ/SEA region - which comprises of Perth, Singapore, Kuala Lumpur and Wellington - the remaining international locations achieved their occupancy target of between 82-85%. 
Growth in the virtual office business continued in line with management's expectations, delivering growth of 9% to about 37,000 packages.
The company's operating cash flow was strong - up 63% to $18.13 million. 
On the outlook, management said that "initial indications are that business conditions are starting to recover around the world".
"Over the last four years we have substantially enhanced our footprint and as the global economy improves we are very well positioned to take advantage of the recovery in global business sentiment.”  
Its current vacancy levels, added management, gave the company “significant opportunity to improve our margins and operating results". 
It is aiming to grow its footprint in strategic locations and to add 10% to office capacity in FY14.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
  
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Servcorp hands down 20% lift in interim net profit over first half of financial year

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Improved trading conditions in Melbourne, Sydney and a recovery in Cairns helped boost average hotel room rates across the country by more than 3% in the 12 months to December 2013.

The figures were revealed in the latest Savills Insight Australian Hotels report, which painted an upbeat picture for hotel industry in the year ahead. 
"As the correction of the Australian dollar continues, domestic travel is likely to increase and Australia will become more affordable for international tourists", the report said. That combination of factors, it believes will lead to increased demand and higher rates in Australian hotels.
Average revenue per available room (RevPAR) growth rose by 3.2% to $132.36 in 2013. RevPAR is a key industry performance measure based on multiplying the occupancy rate by average daily room rate.
RevPAR growth was the strongest in Melbourne, which recorded a 7.2 per lift, followed by Sydney at 6.4% and Cairns at 3.3%. That was offset by falls in Perth, which was affected by the mining industry scale back, Brisbane and Canberra.  
Savills is tipping a better year ahead for the Brisbane market, with expectations of a "spike in trading" during the G20 summit in November.  
During the 12 months to December, Savills recorded 69 sales of hotel assets over $5 million throughout Australia, representing a total value of $2 billion. More than half of that total value was attributed to the sale of the Four Seasons Hotel Sydney and the TAHL portfolio. 
With demand continuing to outstrip supply, the report said: "current owners are looking to capitalise on rising values and view the next 12 to 18 months as a good time to exit the market."
Savills also highlighted that development of new hotels was picking up and as a result "we could see offshore investors acquire hotels on forward commitments as a way to secure assets in a tightly held market."
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Average national hotel room rate lifts by over 3% in 2013: Savills

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While the Reserve Bank is highly likely to leave rates on hold at their March 4 meeting, and to continue on with this period of stability, it appears that some are expecting a hike by early 2015.
Bill Evans, chief economist at Westpac Bank, said that there is “virtually no chance” of an increase next month, and barely a chance that we will see a movement until the second half of 2014, despite dwelling approvals down, unemployment prospects up and a surprise inflation lift in December.
However, he said that at present, a rate cut is more likely than a rate hike.
“We are more concerned about the growth outlook and still see the prospect of rate cuts being more likely than the current expected rate hike scenario,” he noted.
Investors should be watching the forecasts for 2015 as the ‘key policy indicators’ for the Reserve Bank if they are hoping to pre-empt any movement.
This period of stability is widely expected, and should come as little surprise. Despite this, it appears that <a target="_blank" href="/news">fixing home loans as soon as possible is still the suggested approach</a>.
Earlier this month, <a target="_blank" href="/news">AMP Capital’s Shane Oliver also agreed that we’re unlikely to see a change until the end of the year</a>.
“We might see rate hikes in the December quarter, perhaps around October. Right now, the economy is still probably not strong enough for an interest rate increase,” he said.
RP Data’s <a target="_blank" href="/news">Cameron Kusher agreed with this</a>.
“Any increase in the interest rate won’t happen til the second half of the year at the absolute earliest – most probably late in the year,” said Kusher.
jduke@propertyobserver.com.au
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Rate cuts still more likely than rate hikes: Westpac

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Investor demand continued to grow in the latter stages of 2013 with the value of loans for investors jumping by 8.2% in October. That equates to $10.3 billion, the highest level on record. This increase is resulting in strength in the property market and will entice more investors back to the market. Investors traditionally want to ensure they get the timing right and do not want to be left behind. This means most investors will make their move once they are sure other investors are active.  
As investors continue their comeback to the market in 2014, it is important not to get too carried away and enter with a level head. Whether you’re a first-timer or seasoned campaigner, successful property investment is based on certain timeless principles.  
Here are six of the best:  
<ol start="1">
<li>
Horses for courses. Despite much of what you read and hear, no two properties work the same way. Commercial property is primarily income-producing, whilst residential property primarily generates capital growth. Some properties need substantial renovation to improve their resale value, whilst others have inherently high land values that do the job for you. Some properties (like B&amp;Bs) demand a lot of time and hands-on involvement, whilst others can be managed by a third party, enabling you to ‘set and forget’.
All these differences mean that the property which is right for you may not be the property which is right for someone else. Before you enter the market, it’s essential to consider your personal and financial circumstances and goals, your stage of life and the level of involvement you’re prepared to have.
</li>
</ol>
<ol start="2">
<li>
Strategise first, buy later. Decide what type of property is appropriate for your situation. Do you have a large enough working income to support the costs of owning an investment property? If so, a residential property that can provide capital growth may be the best bet. Do you need income to replace your wage or salary? In this case, a commercial property or commercial property trust may be more suitable.
Next, determine which entity is going to own it. There are several forms of ownership: individual, partnership, company, trust or self-managed superannuation fund. The tax office treats each form of ownership differently, so seek advice from your solicitor or accountant before you buy. If you have to change the form of ownership down the track, you could be up for thousands in additional stamp duty and/or capital gains tax.
</li>
</ol>
 
<ol start="3">
<li>
Get your finances in order. No matter which type of property you buy, the substantial entry and exit costs mean you must consider it a long-term proposition. It’s not just a case of having the funds to buy the property, but being able to fund the holding costs for at least seven to 10 years. Think ahead to possible changes in your circumstances (such as starting a family, becoming self-employed or retiring) that could affect you ability to hold the asset for the long term.
If you’re buying a new or near-new property and relying on claiming depreciation benefits to maximise your cashflow, remember that most depreciation occurs in the first five years. Once you’ve used up your depreciation allowance, you could be out of pocket unless you can find another source of income to fund the holding costs.
</li>
</ol>
<ol start="4">
<li>
BYO research. When you’re researching the local market, be wary of free advice. If someone is purporting to ‘advise’ you but being paid by the vendor, they’ll be accountable to the vendor, not to you.
Instead, do your own research by looking at reputable statistics from objective agencies, attending auctions in person and tracking auction results. If you need back-up, seek advice from professionals who don’t have a vested financial interest in steering you towards a certain course of action.
</li>
</ol>
<ol start="5">
<li>
Know your limit. You’re buying an investment property, not a home to live in. You don’t have to love it – or even like it. Leave your emotions at the front gate, set a limit based on your research and stick to it. If the bidding goes over your limit, drop out of the race. It’s one thing to buy well, but buying at all costs simply isn’t smart investing.
</li>
</ol>
<ol start="6">
<li>
Regular reviews. Cast a critical eye over your financing arrangements and property portfolio once a year to decide whether they’re still doing the required job. The finance market changes constantly, so you may be able to get a better deal with a different product, package or lender. Are your properties generating rental income and/or capital growth higher than the wider market? If they’re lagging behind Melbourne-wide or local median rental and property values, it may be time to consider selling.
</li>
</ol>
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
 
 
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