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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At Property Observer, we see a lot of beautiful property listings. The best inspire feelings of awe, appreciation and a little bit of covetousness. But at <a href="https://looneylisting.com/">Looney Listing</a>, the featured properties are more likely to evoke confusion, and sometimes, fear. We’ve picked our favourite five looney listings.
After we featured a property with the <a href="https://www.propertyobserver.com.au/new-south-wales/a-toilet-in-the-kitchen-a-strange-unit-layout/2014012067267">toilet in the kitchen</a>, it was only a matter of time before somebody raised the stakes, with a <a href="https://looneylisting.com/2013/10/07/because-dinner-with-horse-thats-why-so-shut-up/" target="_blank">taxidermied horse watching over the dining table</a>. From the pictures, it appears that the property’s 12 stall stable is directly attached to the main house.
If you like your chips served with dead horse, this is the home for you.
{yoogallery src=[images/stories/2014/01/28/loon1]}
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Putting your family home up on the market is tough for anyone. There are meetings with the real estate agent, the matter of finding a new house, organising the move and letting go of the place you live in.
In the midst of all that, no one would blame you if there are a few toys left out when the photographer comes past to take pictures for your listing.
But there’s something about <a href="https://looneylisting.com/2013/06/21/so-wrong/" target="_blank">this particular toy</a> which marries so perfectly with the plastic bed protectors, the mustard carpet and the low resolution photography to make the creepiest real estate photo we’ve seen in a long time.
{yoogallery src=[images/stories/2014/01/28/loon2]}
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While some would argue that a good real estate photo will impart a sense of drama, not science-fiction, we at Property Observer find <a href="https://looneylisting.com/2012/11/05/money-cant-buy-taste/" target="_blank">this particular listing</a> quite endearing, if not to everyone’s taste.
The floor to ceiling marble (or, more likely, marble-effect painted porcelain) might be a bit much for some, and there’s a strong argument to be made against a fur throw that covers an entire king sized bed, but when we look at this property, we see a home that’s probably given its owners a lot of joy.
That being said, it’s hard to defend the war weapons hanging over the side by side urinals.
{yoogallery src=[images/stories/2014/01/29/loo1]}
And we're not really sure what some of the objects in these photos actually are.
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We’ve seen more than our fair share of objectively <a href="https://www.propertyobserver.com.au/residential/the-strangest-real-estate-photographs-add-yours-to-the-collection/2014012167282">bad real estate photos</a> at Property Observer. 
But sometimes listing photos are so terrible that you wonder whether the seller has committed some awful sin against their real estate agent.
The finger over the lens, the blacked out bathroom, Whoopi – we’d say <a href="https://looneylisting.com/2013/07/15/giving-whoopi-the-finger/" target="_blank">this agent has exacted their revenge</a>.
{yoogallery src=[images/stories/2014/01/28/loon4]}
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At first glance,<a href="https://looneylisting.com/2013/09/11/what-happens-underground-stays-underground/" target="_blank"> this house looks a little peculiar</a>.
Scroll back for another look and you’ll realise that why – it’s built in a man-made cave sitting 26-feet underground.
The pastoral murals around the “garden” have a certain nostalgic (pre-apocalypse) charm, while the 1950s-style interior can soothe your Cold War anxieties. This elaborate bunker was on the market for US$1.7 million.
{yoogallery src=[images/stories/2014/01/28/loon5]}
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
 
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jrichardson-uRX5hFdKfN

Five of the most bizarre property listings from Looney Listing

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If your investment property is in a highly desirable location, you may want to explore alternative ways to rent it out. It is common in some mining towns throughout Australia, northern USA and southern Canada to rent out properties at nightly rates, for near-ludicrous rental returns. These properties can command such high rates and rental structures due to their remote location and general lack of housing stock required to house the growing mining industry working population.
For those not familiar with <a target="_blank" href="https://www.airbnb.com.au">Airbnb</a> and <a target="_blank" href="https://www.flipkey.com">Flipkey</a>, it is worth visiting both websites to educate yourself on these enormous global rental listing sites.
In short, both services enable property owners to rent out their property, fully furnished, at nightly (or sometimes weekly/monthly) rates, direct to their tenant. For well located and well serviced properties, the profit possibilities are far greater than the conventional way of renting a property out in Australia (i.e. via a real estate agency who sources a tenant who pays a fixed rental rate for a six or 12 month term).
I actually recently returned from a trip to Hawaii where I enlisted both of these services, as a holidaymaker/short-term tenant, and was very pleased with the entire experience.
Introducing this for an investment property in a non-resources town location however, can be quite challenging. There are two major components that you must carefully consider components to doing this.
Location and property type – Is your property relevant?
You should consider all of the following before offering your property for rent on such services:
-          First and foremost, if your property is a unit and not a house, you need to check with your strata committee the rules on operating your investment property in such a way. Some building strata by-laws will not allow for an Airbnb-style approach to tenancy.
-          Location needs to be genuinely awesome. The two major users of these services are holiday makers and travelling business people. Short-term student stays would arguably be the third user persona. All users have a high expectation that the property is in the best location to either enjoy their holiday hotspots, commute to business meetings and offices, or close to the campus or facility where their student program will be based.
-          Users also have high expectations regarding the quality of the property and features. Holidaymakers do not want to spend time in anything less than a property that, well, makes them feel like they are on holiday. Similarly, travelling business people expect to pack less in their suitcase and have everything they need, laid out for them.
-          So, cheap second-hand furniture bought from Gumtree likely will not cut it.
-          In line with the above, this means that properties will need to have fresh linen either fitted or neatly presented for the tenant (towels, sheets, kitchen cloth).
-          AV facilities should include TV/Blu-Ray player/stereo/free wi-fi internet access. Additionally, a folder that serves as a local guide is also a smart move. Include local restaurants/attractions, directions to transport and fun things to do, in the folder.
-          Tenants expect a fully functional kitchen stocked with quality working applicances. If parking is possible, instructions for how/where they should park their vehicles need to explicitly laid of for them.
-          A bit of a wow factor. This is important as negative reviews online will hurt your continued success on the service. Future users simply won’t book. In this way, it is typical to see welcome champagne/chocolates with a nice welcome card for tenants, sometimes fresh flowers, and sometimes a cute ‘guest book’ where tenants can read about the previous tenants holiday trips.
-          Other handy tips to help make your property a more unique and special experience to consider would be a little bowl of local spices or products in the kitchen. For international travelers, you’d be surprised at the positive response to supply local delicacies such as Tim Tams, Vegemite, or Manuka Honey can provide. You can even go one step further and leave a note requesting a positive review if they’ve enjoyed the place/service
 
Service commitment – Do you have the required ongoing time spare to commit to it?
To commit to ongoing, often daily, changeover of tenants, you need to have your property serviced frequently. You can either do this yourself, or hire the services of a maid/housekeeper, which is an additional operating cost. These are just some of the many considerations to keep in mind. All of them obviously add to the time you will be spending managing this property:
-          Security maintenance. Typical setups usually enable tenants to access a little pin-coded lockbox on the exterior of the dwelling. Inside are house keys. When they leave/check out of the property, they simply put the keys back in and pin-lock the little box. Tenants will never meet the next tenant, so this is how keys/access is usually passed along. You may be up for upfront costs to install such security necessities.
-          Above mentioned maid / housekeeper costs. Typically, Airbnb properties are run where the tenant(s) check out by 12pm, and the new tenants check in no earlier than 3pm, allowing a three hour window for the housekeeper to come and perform a set roster of duties. You must set the roster and practice it through with the housekeeper prior to the first tenant stay. 
-          Site listing maintainance. Not only do Airbnb service costs need to be taken into account, but keeping the listing up to date and securing as many positive reviews as possible, also requires significant time investment.
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

Holiday and short-term rentals: Does your property fit the bill?

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Two retail spaces in Mirvac’s Waverley Park Stadium have been listed through Colliers International.
The food and beverage outlets are expected to sell for over $1.5 million total. Shop Seven is currently leased to The Last Piece Café until October 2023, with a five year option, and Shop One is the Stadium Fish and Chippery. Colliers International’s Jeremy Gruzewski says that Shop Seven provides about $90,000 in net rental income, while he expects that Shop One will attract interest above $350,000.
“The retail component of the former VFL stadium, and current Hawthorn Football Club training ground, provides a variety of amenity to the local community as well as surrounding business parks and industrial estates,” Gruzewski said.
“There is a strong appetite for low-risk investments which have been apparent in recent suburban retail results,” he said. “By far, retail is the most sought after and affordable commercial investment in the current market."
Tom Noonan of Colliers International, who is also handling the sale with Gruzewski, expects interest from private investors and self-managed super funds.
Mirvac’s Waverley Stadium in <a target="_blank" href="/news">Mulgrave</a> is the home of the Hawthorn Football Club. The properties will be auctioned on March 19.
jrichardson@propertyobserver.com.au
 
 
 
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Waverley Park Stadium shops on the market

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Picking a mortgage broker can be as tricky as any part in the property buying process and, as they'll be the expert securing you a loan that can often be one of the larger financial stresses around, you'll want to get this part correct.
Think of the role of a mortgage broker to be two-fold. On the one hand, they are there to secure you finance. On the other, they are also there to help you prepare yourself for future decisions and to ensure you understand what you are signing up for. We've previously written about <a target="_blank" href="/news">the importance of shopping around for a mortgage broker</a>.
<hr>
YOU MIGHT ALSO BE INTERESTED IN:
These <a target="_blank" href="/news">Pros and cons of using a mortgage broker</a>: Cameron McEvoy
Tips on how to <a target="_blank" href="/news">maximise the relationship you have with your broker</a>, from Century 21's Charles Tarbey
<hr>
Just like any other expert, their skill and knowledge can vary considerably. If you're a first home buyer, an investor, or an upgrader, you'll want a mortgage broker that deals with the same type of clientele. If, for instance, you are an investor with plans to purchase multiple properties down the track then you'll want a broker who understands how your loans will need to be structured to best prepare yourself for that point. Brokers with most of their experience in the first home buyer area will not be best placed to prepare you.
Firstly, ask for referrals from people who are in a similar situation to you or are in a situation that you aspire to. For instance, if you want to have four properties, then try to find someone who has reached this goal. You should then ask who their broker is, and what their experience has been like with them. Many investors will use the same local expert. Good brokers regularly receive referrals and do not necessarily need to solicit as much for their business.
There are some quick and easy ways to work out if they're going to be a decent broker for you. One quick rule of thumb is to stop talking and just see what they're asking you. If they're interested in your plans for the property, such as your likelihood of selling, of using any equity, of renovating, then they're thinking ahead for you. This is invaluable.
They should be explaining the downfalls as well as the plus-sides of different products, as well as be ready to describe and help you understand how different instruments can work for you (What is an offset account? Why might you need one?). They should also explain where you can trip up, or where you might have difficulties. Find out about some of the more difficult loans they have had to write and how they worked with the problems.
A broker's role often requires their honed negotiation skills to push your loan over the line with the lender, so look out for their communication - if they're struggling to explain things to you, then you might want to reconsider.
Turn over page for the questions you must be asking your prospective mortgage broker (including their licenses, affiliations and access to loan products).
 
 
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Questions you must be asking your prospective mortgage broker 
<ul>
<li>Are you licensed to recommend credit?</li>
</ul>
All mortgage brokers are required to hold an ASIC credit licence (ACL) or operate as a credit representative under a licence holder. Ask to see evidence and do your own checking on the ASIC website using its “professional registers” search engine.
<ul>
<li>Are you a member of the Mortgage and Finance Association of Australia (MFAA) or Finance Brokers Association of Australia (FBAA)?</li>
</ul>
Industry body membership is not mandatory, but all reputable brokers should be a member of one of these organisations. Membership requires higher education benchmarks and other professional and ethical requirements.
<ul>
<li>What lenders are on your lending panel?</li>
</ul>
A broker’s lending panel is the lenders they are accredited with to recommend loans. Get a list of a broker's lenders and do some research. Most reputable brokers would offer a mix of banks, non-banks and mutual lenders. Be wary of broker who only has a few unknown lenders  as the broker may have failed to gain accreditation with some of the bigger lenders.
<ul>
<li>How many lenders are you likely to recommend?</li>
</ul>
Most mortgage brokers will have at least a dozen lenders on their panel and sometimes as many as 30. However, they are unlikely to be able to recommend loans from all these lenders, so you should find out which lenders they are most familiar with and ensure you are comfortable with this selection.
<ul>
<li>How long have you been a mortgage broker for and how many loans have you written?</li>
</ul>
It’s important to gauge the level of experience of your broker. If he's a rookie, his knowledge may be limited and you may feel more comfortable with someone who has more experience. It's also worth asking how business is going and if he's been busy.
<ul>
<li>Which is your favourite lender and why?</li>
</ul>
Brokers are required by lawyer not to recommend unsuitable loans to borrowers. Many, though, will have a lender they recommend more than others, and you should find out why. Valid answers could range from lowest rates and fees to excellent customer service. Brokers are paid by commission and other incentives (such as volume of business), so make sure you’re not just making up the numbers for them.
<ul>
<li>How do you make your recommendations?</li>
</ul>
Many brokers will input your information into some kind of software program to come up with a list of suggested lenders and loans. However, it is also the duty of a mortgage broker to consider your holistic financial needs and your personal circumstances. A broker should have good product and market knowledge and good people skills and should not just rely on their computer software to come up with recommendations.
<ul>
<li>Can I speak to one or two of your clients?</li>
</ul>
This is a great way to assess a broker's performance for yourself and whether previous clients were satisfied with the service they received. You can also check a broker's website for testimonials and do a Google search to see if her name pops up in relation to a dispute or if they have made the news for the wrong reasons. Also consider looking at their testimonials.
<ul>
<li>Do you charge a fee?</li>
</ul>
Most brokers are free as they are paid by lenders, but some do charge upfront fees for their mortgage advice. A broker should disclose these fees upfront, but it’s worth checking. And if they do charge any fees these should be for additional services above and beyond determining a suitable loan for your needs.
<ul>
<li>What service do you provide post settlement?</li>
</ul>
A broker should provide continuing service to her client after the loan has settled. Brokers who “set and forget” will leave you high and dry if you run into problems. Most lenders pay brokers a monthly trail commission as an incentive to provide good post-settlement customer service, but even if they don’t a good broker relies on word-of-mouth referrals and recommendations to grow her  business. You are <a target="_blank" href="/news">legally entitled to know what commissions are received</a>, so it's worth finding this out as well.
Turn over page for the extras that you can look for
 
 
 
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 Whistles and Bells
It's becoming increasingly common for mortgage brokers to stay in touch with their clients through online services. If this is something you want, ask about how they stay in touch. Some will offer newsletters, while others will provide updates on changing rates via text messages.
You will want to have a regular channel of communication with your broker, particularly as you are waiting for approval, so ensuring they are available is also important. See how easy it is to get them on the phone.
Test them out
Do not be afraid to head online to a comparison tool and look for a better deal. If your mortgage broker has suggested a product and you think there is something better - ask them why they didn't recommend it. Chances are, there will be reasons you haven't even thought of.
MoneySmart recommends heading in to see a broker with a "wish list" of features and hopes for your loan. Ask them what is realistic and achievable and the costs for each - compare the responses between brokers.
Warning signs for investors:
<ul>
<li>
If a broker begins suggesting specific properties to you, then be aware. Are they likely to receive a commission if you buy that property? What is their reason for the suggestion?
</li>
<li>
If they show disinterest in your plans or specific requirements, then you'll never get a loan product that suits your unique needs.
</li>
<li>
When the going gets tough, if the broker suggests that you falsify any information then alarm bells should be ringing.
</li>
</ul>
jduke@propertyobserver.com.au
 
 
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jduke-EHk3XBmHkn

How to: Pick the best mortgage broker

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If they were handing out awards for market performance in 2013, the Sydney municipality of Canterbury would be a leading contender.
Most suburbs in the City of Canterbury delivered double-digit growth, both in their median house prices and their median unit prices.
<a href="/news"> Campsie</a> recorded an 11% rise in its median hosue price ($730,000) and a 15% rise in its median price for apartments ($430,000, based on 260 sales in 12 months, making it the leading volume market in the city).
<a href="/news"> Lakemba</a>, another popular market because of its affordability and its above-average rental returns, recorded 205 apartment sales at a median price of $295,000, up 11%. The suburb’s median house price ($550,000) also grew 11% during the year, a <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/from-mosques-to-mcdonalds-there-s-no-evidence-of-a-price-impact/2014011567206" target="_blank">solid performance despite the highly-visible presence of one of Australia’s largest mosques</a> – which, according to a widely-held view amongst the hysterical, should be a barrier to capital growth.
The median yield for Lakemba apartments, according to Australian Property Monitors figures, is 6.3%. Nearby <a href="/news">Wiley Park</a>, another popular suburb for affordable apartments (median price $300,000), has a median yields for units of 6.4%, well above the Sydney average.
The best growth in this precinct was recorded by <a href="/news">Narwee</a>, where the median house price grew 17% to $700,000; <a href="/news">Canterbury</a>, where the median house price rose 16% to $770,000; and <a href="/news">Croydon</a>, which lifted its median unit price 15% to $520,000.
Other suburbs with strong growth in the City of Canterbury include <a href="/news">Earlwood</a>, <a href="/news">Hurlstone Park</a>, <a href="/news">Wiley Park</a> and <a href="/news">Roselands</a>.
This precinct is clearly popular for its relatively affordable apartments, with annual unit sales (902) almost matching house sales (1,005).
Units are likely to overtake houses, with dwelling approvals in recent years being dominated by new apartment projects. Approvals rose from 194 in FY2011 to 424 in FY2012 and 655 in FY2013, most of them for apartments.
This area is another example of the “<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/australian-capital-territory/stand-by-for-australias-town-planning-revolution-terry-ryder/2014010667091" target="_blank">town planning revolution</a>” sweeping capital city Australia. Changes to the City of Canterbury Local Environment Plan, which came into effect this month, allow more high-density residential development in areas that were traditionally industrial precincts. Developers have moved in quickly, creating considerable building activity.
A high level of urban renewal activity is happening in the municipality, with a number of new apartment developments focused in particular on Cooks River.
It’s the latest episode in the evolution of one of Sydney’s most colourful areas, where half of residents were born overseas and the cuisine on offer includes Lebanese, Moroccan, Indian, Chinese, Japanese, Pakistani, Indonesian, Korean and Sydney’s only Cocos and Christmas Island restaurant.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">hotspotting.com.au</a> and you can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank" style="font-size: 14px;">Twitter</a>.
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The City of Canterbury a leading contender for best performer of 2013

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Australia Day traditionally flags the end of the real estate ‘vacation’ period, with the long weekend being the last chance most agents have to take a breather before the auctions begin and weekly clearance rates once again come under intense scrutiny.
Most predictions for 2015 conclude that the recent upward trajectory will continue – with particular focus on some of our largest capital cities: Sydney, Melbourne and Perth (with Sydney and Perth already past their previous peaks in non-inflationary terms).
The pace of growth will differ for each capital with a correction expected in 2015 – despite the talk of a sooner than expected rise in rates. The momentum that has built up throughout 2013 has come primarily from investors, largely driven by local speculation.
In Sydney, where supply has been hampered by stringent planning requirements allowing larger developers with a greater financial capacity to hold the upperhand, the shortage of stock to cater to the needs of a market share of over 50% investors, has resulted in a spike in prices. This has diverged considerably from other states and continues to drive the herd mentality.
Louis Christopher, managing director of SQM Research, suggests Sydney will have its strongest start to the year in more than 15 years. Even assuming the prediction is too bullish, it’s unlikely to be far from the mark.
The extra boom of apartment supply will assist in cooling demand and boosting the number of rental dwellings, but it will take more than one interest rate hike before we see the evidence translate into lower median values, hence why the run will last the duration.
Whether you celebrate or commiserate news of a continued increase in house prices will obviously depend on circumstance – with investors benefitting most. However, the higher entry cost will continue to impede first time buyers and low-income earners. With no immediate solution by way of structural reform to housing policy, the debate won’t move far from headlines.
I made clear in my <a href="/news">column last week</a>, why we have an affordability problem and how that translates across the different demographics.
In our most populous capital cities, house prices have gone from three times median income to nine times median income. The impact on low-income families – in particular those renting, or teetering on the edge of ownership due to divorce or job loss - is particularly disturbing. In Melbourne alone, from <a href="https://business.curtin.edu.au/local/docs/ahrc13/Conceptualising-housing-affordability-in-Melbourne.pdf" target="_blank">1991 to 2011</a>, metropolitan housing CPI rose by 50%, compared to 188% for rents across the LGA.
The swell of concern coming from the ground up is the best chance we have to push significant reform forward. It’s encouraging to see results from a recent Ipos poll, conclude that most Australian’s disagree that rising prices are a <a href="https://www.news.com.au/finance/money/most-australians-disagree-rising-house-prices-are-a-good-thing/story-e6frfmci-1226799251099" target="_blank">‘good thing.’</a>
Notwithstanding, a huge portion of private debt for the appropriation of business and commerce is secured against residential real estate. Its Australia’s largest domestic asset class with an estimated aggregated value of over $4 trillion, pinned to a banking sector, which has the highest exposure to residential mortgages in the world.
The sensitivity to maintain high prices is evident not only in the NIMBY-style practices that protest at all attempts to either increase density or assist development, but also in the inability of  politicians to move ahead with structural reform to housing policy.
Consequently, governments tend to treat affordability issues reactively rather than proactively.  Words always mean more than the actions.
Demand side policies are favoured and when supply is released it’s done in such a way that it feeds a monopolist culture – designed to maximise profit over the delivery of land at ‘affordable’ prices.
To illustrate the point – ‘economics 101’ suggests the most effective way to reduce prices is to simply increase supply. In Melbourne last week, Planning Minister Matthew Guy anno0unced that the city has “decades worth of land”; more than “400,000 potential house lots in growth areas”, of which five new precinct structure plans have been approved for development (amounting to 19,000 ‘potential’ bocks) and a “potential” 180,000 apartment blocks (more than enough keep all our offshore investors happy).
Clearly – we’ve got supply in spades!
Furthermore, broadly speaking, population growth in the outer suburbs of Greater Melbourne, predominantly in the newer greenfield developments, continues to be faster, and larger, than anywhere else in the greater Melbourne districts. So demand, in theory, should not be lacking.
But what Mr Guy fails to mention, is that in a five-year period from 2006 to 2010 the median land price in outer growth area suburbs jumped from $136,000 to $212,750, a difference of $76,750, according to Oliver Hume Real Estate Group. The typical starting price for a house and land package on a compact 450 square metre block of land is now transacting for a little over $400,000. Where is this cheap supply?
Of course, it all comes down to the development process. As soon as the urban boundary was implemented speculation began, existing landowners were able demand a premium for land now potentially available for residential purposes. Of those who decided to cash in, hectares were duly auctioned off to the highest bidder – resulting in a massive inflationary boom in values.
Precinct structure plans must be finalised before construction can commence – a process of which takes two to three years.
Funds for the provision of infrastructure - arterial roads, kindergartens, child health centres and so forth, are passed onto the buyer (initially the developer, who simply factors it into the final cost).
However, there is no timetable for the construction of this infrastructure. Councils can wait years for the funds to arrive because they are usually only payable upon subdivision. Notably land within PSPs can be held by landowners who have little incentive to bring it to market unless it’s financially beneficial to do so. The result is home owners pay for infrastructure which they may never receive.
Any areas of land a developer unwittingly acquires which is subject to ‘biodiversity conservation’ must be set aside.  10% of their land must be donated for ‘community open space’. Add to this GST, along with sales and marketing costs and you begin to get the idea of why supply does not immediately equate to lower prices.
Developers, with a desire to maximise profits, time their releases carefully. In other words, the state has auctioned away any chance of a plentiful supply of cheap fringe dwellings – and in light of the evidence Mr Guy is unable to claim otherwise.
Whilst inner city development may assist renters, the extent to which it does so is debatable. Investors seem undeterred by the higher vacancy rates in Melbourne, which have hovered around 3% for the past 12 months. We can see from work undertaken by Philip Soos at <a href="https://www.prosper.org.au/" target="_blank">‘Prosper Australia’</a> last year, that a percentage of newer units are allowed to sit vacant for much of the year – unclear whether they are being used for speculation, or as temporary vacation homes.
Building approvals data for apartments do not indicate commencement - the process of approval, to release (off plan pre-sales), and finally completion, takes a number of years.
<a href="https://www.charterkc.com.au/" target="_blank">Charter Keck Cramer</a> track each project from start to finish – and estimated back in July 2013 that 39,155 apartments will be added to the stock in Melbourne during the three year period of 2013 to 2015 (not including those for which subsequent planning approval has been granted).
To maximise yield and meet financial requirements, most apartments are small one and two bedroom dwellings (no more than 70 square metres in size). Unsurprisingly, they offer little attraction to the vast majority of local home buyers – being far more apt to meet the needs of student renters.
All in all, it’s an appalling state of affairs.
Australia is now entering its 23rd year of continuous GDP growth – the history of which is outlined briefly in HSBC’s recently released global research paper <a href="https://www.macrobusiness.com.au/wp-content/uploads/2014/01/2014.01.24-Australia-in-2014-Still-in-second-gear-PUBLIC-1.pdf">“Still in second gear”</a>. It should come as no surprise that land is always the eventual beneficiary from the wealth of a burgeoning economy.
As productivity increases, jobs are created, the population grows, infrastructure is built, areas gentrify, land values increase, and owners benefit. The uplift in values finances additional development and so the speculative process continues.
From the trough of 1996 to the peak in 2010 land values have roughly <a href="https://www.macrobusiness.com.au/2013/02/the-history-of-australian-property-values/" target="_blank">doubled</a> as a percentage of GDP – and the policies we have in place simply fuel the cycle.
In countries that have promoted home ownership both a means of ‘saving’ for retirement and a valuable asset to leverage against to accumulate additional assets – the eventual consequence is always the same. Tax strategies and inelastic supply side policies have encouraged speculation in rising land values with both the monopoly and restriction of the resource stagnating effective and affordable supply.
Until any sharp ‘correction’ is experienced (and eventually it will be), the advantage lies with those who hold the appreciating assets above those who don’t – particularly if acquisition was early on in the cycle as suburbs initially gentrified.
Whilst gains over the period wax and wane, spurred on by low rates or intermittent grants, the party can only continue whilst there is consistent demand at the entry level. This is why so much attention is focused on mortgage ‘serviceability’ rates, rather than the overall level of ‘affordability’ by way of calculating the gross amount borrowed.
It is possible to create a stable housing market that doesn’t subsist on ever rising prices. However, it can only be achieved by significant tax reform moving toward a broad based land tax - as was advocated in the Henry Tax Review - coupled with structural changes to the way we manage supply.
Without such reform, the social cost to our country and welfare system as a whole, will only worsen.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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More supply does not immediately equate to lower prices

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About 120 Gold Coast properties will be taken to auction next week, in what is widely regarded as Australia’s largest in-room auction showcase.
The one-day event by Ray White Surfers Paradise Group will open at 11am on January 27 with a market report presentation by auctioneer Andrew Bell, the group’s CEO. Dubbed “The Event”, it will be the 21st annual real estate auction showcase for the group.
<a href="https://www.propertyobserver.com.au/news/gold-coast-seeing-the-best-real-estate-market-conditions-in-more-than-eight-years/2013120566642" target="_blank">The Event will be hosted at the Gold Coast Turf Club in Bundall</a>. A prestige auction event will also be held by the group on Thursday January 30.
Property Observer readers will be able to read about all the highlights next week.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Gold Coast to host Australia’s biggest real estate auction from Monday

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Archers Body Corporate Management has released a list of Australia Day party dos and don’ts following complaints regarding over-zealous partiers during last month’s holiday season.
To avoid conflict with your neighbours and bodies corporate, Archers director Andrew Staehr said it’s important to be prepared when throwing a party.
“Your body corporate may allow you to hold parties on certain areas of common property but you must ensure that it is booked and is large enough for the number of guests invited,” Staehr said.
“Emergency actions are not something people generally think about when planning a party but it’s crucial to be prepared in case something does go wrong.”
Staehr recommends that hosts double check smoke detectors and make sure that any partygoers have a handle on the building’s exits and evacuation plans. And remember – your guests are your responsibility.
“Ensure guests do not lean over or against balustrades and no rubbish is thrown over the balcony,” said the safety-conscious Staehr.
Here are Staehr’s other tips for hosting a body corporate-friendly Australia Day party:
1. Communicate with your body corporate and be aware of the common by-laws and house rules in regards to the number of people permitted in various common areas and what time noise must be reduce
2. Utilise a booking system for common facilities such as BBQs to avoid overcrowding and argument
3. Ensure all rules are enforced for facilities with closing times or other restrictions, like the pool
4. Be aware of the body corporate procedures to report a complaint if a party does get out of hand
5. Communicate with your neighbours and let them know party details so they are aware of what is going on
6. Communicate with guests and ensure they know the rules of your complex, including where to park, noise restrictions and common property restrictions.
They won’t save you from burnt sausages, or that one guest who’s a little too excited about their sense of national pride, but Staehr’s tips will hopefully ensure that you’re still getting along with the body corporate (and your neighbours) the morning after.
What are some of your party dos and don'ts?
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
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Tips for your Australia Day party, courtesy of the body corporate

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With Australia Day over the silly season will soon be behind us, although for much of the real estate market the silly season in 2013 arrived late, and for many, may have been short lived.  For the residential property market the second half of 2013 was remarkable and hectic, in particular for Sydney. So now as we move into 2014 it’s a good time to highlight some of the key factors that might influence conditions over the next 12 months, for buyers, developers and marketers alike.
But before we leave the silly season completely behind, I was interested to research where the idea first came from. I found that, according to the Oxford English Dictionary, references date back as far as 1861, so this is by no means a new idea. I also found that there is great deal of information published about how to both best enjoy and also ways to avoid the pitfalls of the season. In some round about way this made me think about all of the advice that is offered to real estate buyers.
When looking at the silly season it’s a mix of suggestions like considering alternatives (to alcohol), never drinking on an empty stomach, quench your thirst thus discouraging you from over doing it with the champers and beer. Then you could take a comprehensive B vitamin and antioxidant formula, drink a glass of water between drinks and before going to bed and aim to be in bed before 12am. Then some final suggestions include the use of gentle exercise each day such as walking that will help boost your mood and burn some of those extra kilojoules. And if the season is really getting the best of you, well you could always seek the aid of a naturopath or other health professional for help to manage the demands of your silly season. All of which are strategies that can help you be at your best.
A good plan to avoid any headaches
What these somewhat colourful and quaint ideas offered me was I felt the ideal preamble to a look at the many influences that will impact the residential market in 2014. For example it will pay to stay alter to the varied alternatives that different markets offer, it will also pay dividends if buyers do their fair share of footwork and planning and for sure it will be very wise to get the best support and market information available.
There can be unforeseen consequence of the silly season for some people. Most are easy to deal with, but as we move on from a very positive year in 2013 the market across 2014 is going to be influenced by a wide range of circumstances, and as we often see some factors, like supply will be localised while others, like taxation and planning policy will be as a result of structural change.
Now and next week I would like to highlight some of the central issues and then also look at some marketing trends. However from the start we need to acknowledge that many of the key points will all be connected to a few central issues. These will include house prices, the fate of the Australian dollar, the continued adjustment away from an economy powered by the mining boom and changes to employment and how this also relates to demographic shifts. While in NSW proposed changes to planning regulations and strata laws are set to deliver localised, and some would argue unwelcome pressures on the local apartment market.
Higher house prices here to stay
House prices have always driven a great deal of news, comment and chatter – this will without any doubt continue and amplify. However the headlines can only reflect the reality that market settings for the next few years, are now more or less predictable and they cannot be easily changed. In 2014 we will continue to work with the fact that the dynamics of the housing market are very complex and in the absence of any sort of big policy shift by government no important or far reaching changes can be anticipated.
Where the housing market is concerned either directly or indirectly, current governments at both state and federal level are not given to bold policy shifts. Policies like the floating of the dollar in 1983 or the introduction of capital gains and the fringe benefits tax in 1985 are possible, but we will have to wait until May this year to see if the current tax review results in any big policy shifts.
Over the last six months, as auction clearance rates broke many previous records, house prices were in many areas only now recovering from the impact of the GFC. But clearly price increases were impressive. Over the previous decade the average house price increased by 2.3% while last year Sydney prices grew by 11.4%, Perth 8.6%, Melbourne 6.8% and Brisbane 4.1%. Key factors driving prices were low interest rates, continued lagging in the supply of new homes, apartments and land and a big increase in demand from off-shore buyers, that in some markets like Sydney and Melbourne was a major factor. Now as we look at 2014 these factors are set to continue, but we need to keep an eye on how related issues like the exchange rate and employment could impact these areas.
We know that most Australians are always happier if the value of their home increases, and this boosts general confidence – which was a factor in 2013, but it is also true that lost jobs do weigh heavily on sentiment.
There is of course the fate of first home buyers to consider when we reflect upon the impact of higher house prices. This is an emotional issue, and may currently be somewhat under the radar of the general market, but with only 12.3% of total home loans going to FHBs in November, an historic low, the fate of the FHB may soon move from an economic to a wider social issue.
A key concern, not really helped by low interest rates, is the ability to save the 10% deposit most people aim for when entering the market, in 2014 we may see more pressure for more FHB assistance. While the deposit gap for some may come via help from Baby Boomer parents, who are themselves trading down, this is only a very limited solution for the lucky few.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
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The key market factors for 2014

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You can be assured that as we enter a new year we are inundated with real estate predictions. 2014 will be no different so let’s try and make it easier and more understandable for you. Since September 2000, we have been writing our weekly post, Virtual Realty News, which provides an in-depth assessment of what the markets are doing. Despite the banter and hoo-ha that Sydney markets are set to boom in 2014, the most consistent statistic that we have observed over the last six years is that property sales numbers are in a rapid decline.
Here is what we consider the vital property performance indicators:
1. Cash rate
At the beginning of 2013 Macquarie Bank predicted that the cash rate in 2013 would drop to 2.00% whilst most thought it would go up. The Reserve Bank of Australia (RBA) cash rate today sits at 2.50% and this is where we expect it to sit for 2014 – we expect to see it start rising again in 2015.
2. Australian dollar
At the time of writing this report it was sitting at 0.87 AU$/US$ which is the weakest point since July 2010. Last week the Australian Bureau of Statistics showed that the unemployment rate remained at 5.8% in December. The world’s biggest money manager BlackRock sees Australia’s dollar falling 10% as a result of disappointing economic growth reporting in 2014 which would then see the RBA cut its cash rate to 2.00%. There would be a number of expats hoping this to be the case as they have been sitting waiting for the Australian dollar to start declining.
3. Inflation
Overall the inflation rate has been well controlled by the RBA over the past few years with the RBA settings from 2.00% to 3.00%. In the 12 months to December, prices rose 2.7%, compared to 2.4% in November. This economic data is confirming that Australia’s record – low 2.5% cash rate is stimulating consumer spending. Across Australia spending has now risen over the past 16 consecutive months.
4. Supply/demand
This is the data I rely on the most as Sydney is comprised of 637 suburbs and growing and reporting generally throws all the suburbs into the one analysis. In 2012 Mosman houses recorded on 23 occasions more than 100 houses on the market over the one particular week – in 2013 it only managed to break 100 on four occasions so we are witnessing significant reductions in stock levels. In 2012 the greatest number of houses on the market in one week was 168, in 2013 it peaked at 144. To see on how many occasions the number of houses on the market breaks 100 will be fascinating given the markets are off to their weakest start ever in terms of volume.
<img height="237" width="470" src="https://www.rwm.com.au/files/2014/01/15-01-2014-1-18-21-PM.jpg" alt="15-01-2014 1-18-21 PM"><img height="296" width="470" src="https://www.rwm.com.au/files/2014/01/14-01-2014-2-56-15-PM.jpg" alt="14-01-2014 2-56-15 PM">
In 2013 the highest house sale was Altona – Wunulla Road, Point Piper for $52 million. For the first time in years the only property to sell outside the eastern suburbs of Sydney top 20 sales was Julian Street, Mosman which was sold by Richardson &amp; Wrench Mosman &amp; Neutral Bay (RWM) for $13.9 million. From the Sydney top 20 sales in 2013 just four went to Chinese buyers so don’t believe everything you read in the newspapers.
We don’t see any great changes in 2014 to the 2013 real estate markets given that they are now more than ever before consumer sensitive. Like everything markets are controlled by supply v demand mechanisms and if anything we believe again we will see fewer properties on the market in 2014.
Just before Australia Day last year there were 61 houses on the market, the year before 83 and this week just 47. Mosman apartments have 40 on the market this week, last year 68 and the year before 129. It’s quite extraordinary that the combined number of houses and apartments on the market in Mosman is just 87 – which clearly identifies a vendors market.
It’s going to be very interesting to see what happens to the stock volumes this week as the markets historically move into what we call the peak selling period.
Robert Simeon is a director of <a target="_blank" rel="nofollow" href="https://www.rwm.com.au/" title="RWM" style="font-size: 14px;">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a target="_blank" rel="nofollow" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. 
The RWM real estate model has sold in excess of $1 billion in database sales globally.
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