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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Purchasing a home can be a difficult task – especially if you’re after that perfect property that’s just right, though you cannot necessarily put a finger on that particular element which makes it so.
Buyers advocate Secret Agent’s recent report delves into the social science behind that “quirk” property buyers are after – that chill down the spine that leaves you thinking about the perfect property you are after.
The report quotes American sociobiologist and author Edward O Wilson, whose research showed that “the brain is most aroused by patterns in which there is about a 20 per cent redundancy in elements or, put roughly, the amount of complexity put in a single maze”.
Wilson notes that this amount of complexity is the most the brain can process in with one look, just as seven is the highest number of objects that can be counted at a single glance.
For instance, when purchasing a new sofa, its linear design may be appealing because of the slightly flawed texture of its wool fabric, which provides the 20 per cent redundancy Wilson refers to.
Wilson also addresses in his research why people might choose a certain place to live.
"Studies have shown that given freedom to choose the setting of their homes or offices, people across cultures gravitate toward an environment that combines three features, intuitively understood by landscape architects and real estate entrepreneurs. They want to be on a height looking down, they prefer open savanna-like terrain with scattered trees and copses, and they want to be close to a body of water, such as a river, lake, or ocean. Even if all these elements are purely aesthetic and not functional, homebuyers will pay any affordable price to have such a view. People, in other words, prefer to live in those environments in which our species evolved over millions of years in Africa. Instinctively, they gravitate toward savanna forest (parkland) and transitional forest, looking out safely over a distance toward reliable sources of food and water. This is by no means an odd connection, if considered as a biological phenomenon. All mobile animal species are guided by instincts that lead them to habitats in which they have a maximum chance for survival and reproduction."
His research suggests that biologically, humans are prone to making certain choices and strive to certain ideals.
What other factors are involved when searching for a space to live or work?
Secret Agent draws upon Maslow’s hierarchy of needs (1943) for further explanation. Maslow’s idea was that once our basic needs, such as food, water, and shelter are met, humankind moves onto satisfying more complex needs.
Perhaps the “perfect property” buyers have in mind is a mixture of their needs, desires, and ambitions aligned.
<img src="/images/stories/diane/Screen_Shot_2013-12-10_at_3.05.21_PM.png" alt="Screen_Shot_2013-12-10_at_3.05.21_PM" height="202" width="420">
Source: Secret Agent 
Trends also play a huge part in attracting people to properties. Australia ranks third on Google Trends’ list of searchers of the term “home styling”, while Victoria tops the country when searching for home stylists or styling tips.
Vendors and agents therefore spend time and money on creating that “magic” space which buyers want to get into.
There is a business in creating that feeling where a property takes your breath away.
For instance, The Design Files is a website that showcases homes and homewares from all over Australia, as well as art, retail, craft, and food. With help from sponsors, the team put together an event where they styled an entire Melbourne home that’s open to the public – and everything was for sale.
The concept was conceived to allow the consumer to feel a connection to objects in context, removing that barrier if one were to simply look at an image of a product online.
The event proved to be a success and the team will be headed to Sydney next year to execute a similar event.
The report concluded that while that magic “quirk” cannot necessarily be defined, it is definitely up to the individual to find out what that 20% “redundancy” means for them to feel comfortable, and therefore develop that balance of need, want, and ambition for that “perfect space”.
<a href="mailto:dleow@propertyobserver.com.au">dleow@propertyobserver.com.au</a>
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The social science behind that "perfect property": Secret Agent

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An RP Data quarterly review of the residential property market and the Australian economy has found that vendors are much more empowered than at the same time last year.
It found vendor discounting - the average difference between the original listing price and the final contract price on a property sale – had swung the vendors’ way.
<img src="/images/stories/2013/12/03/vendor-discoutning-dec-3-one.gif" alt="vendor-discoutning-dec-3-one" height="224" width="470">
Discounting provides the best indication about how much negotiation is in the market and is a good proxy for understanding the balance between buyers and sellers.
The review found that, over the past year, the housing market has begun to start favouring the seller. Across the capital cities, the average discount in September for a typical house was -5.7%, and for units -5.2%.
At the same time in 2012, the average discount rate for houses and units was -7.2% and -5.7% respectively. This highlights improved vendor price expectations over the year.
Discounting levels are now at their lowest levels in more than three years, reflecting recent significant improvements in selling conditions.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Pendulum swings towards property vendors: RP Data

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With an influx of foreign investment interest in Australia, it is vital to bridge cultural differences for a smooth working relationship and successful business transactions.
Melbourne property consultant Anthony Chiminello, who has had 15 to 20 years of experience dealing with clients from various backgrounds, tells Property Observer that the basic requirements or approach to negotiation for everyone – regardless of cultural background – is “fundamentally the same”: respect, honesty, and professional service.
Yet he has noticed that it is important to utilise those qualities according to different cultural requirements. 
He believes Australia is missing out on billions of dollars worth of business with China and other Asian neighbours because Australians focus on the deal first, rather than seeking to understand the clients and their culture.
“In the west, we deal with clients on an intellectual level. That tends to restrict the transaction to very broad terms: How much money you’ve got, and what I’m prepared to sell you,” Chiminello said.
In his experience, he has found that cultivating a deeper relationship with the client often pays off.
“It’s about understanding each other, the person behind the deal and the culture. It takes time and some effort, investing a bit more emotion or heart,” he notes. 
Conversely, investing time getting to know a potential client may not necessarily result in a deal. But Chiminello says that those clients were usually referrals from their relatives or associates.
“Sometimes you’ll find you develop a friendship with someone and there’s no business, but they then become your ambassador and promote you to all their friends and relatives,” he said.
He also advises that there will be clients out there who will “use and abuse”, but it’s also up to the other party to know when to draw the lines and know that someone is wasting their time.
“It’s good business sense, as opposed to being caught out,” he said.
One of the biggest challenges in bridging the cultural divide between an Australian property consultant and an Asian client is allowing enough time for both parties to get to know each other, Chiminello says.
“Patience can be a big challenge, especially in a fast-paced world,” he said.
“Sometimes their decision timeline is a lot longer. They tend to want to know a lot about peripheral things than the deal itself – more importantly, they want to get to know you,” Chiminello added.
Language can also be a barrier, especially with investors from Mainland China. Chiminello feels that interpreters sometimes do not accurately translate the emotions behind the language, resulting in a lot of wasted time trying to understand what the other party actually means.
While “Asian buyers” can be a broad term, Chiminello adds that investors from Hong Kong, Singapore and Malaysia are aware of western values and practices, making it easier for property consultants.
However, the emerging middle classes from Indonesia, Mainland China, and Vietnam have not necessarily been exposed to western business practices. In this case, there could be a learning curve in getting to know a prospective client.
Chiminello notes that the idea of building a relationship with a client stems from Confucian teachings which emerged some 2000 years ago.
“That philosophy is carried through, and it should be a basic premise for long-term business and improving the potential of doing business with each other. It’s about getting to know the person’s culture and getting to know them in detail. In many ways, it’s common sense,” he said.
Here are Chiminello’s top tips for building relationships with Asian buyers:
<ul>
<li>Don’t expect to do a deal on your first meeting.</li>
<li>Take an interest in the person on a holistic level. This includes their life, culture, lifestyle and family, as opposed to just focusing on the business. </li>
<li>Build a sense of trust between the two parties.</li>
<li>Cultivate some patience before jumping into a deal, and don’t expect everything to happen yesterday.</li>
</ul>
As a result of his interest in building goodwill and cultural ties with Australia’s Asian neighbours, Chiminello has produced a publication titled ‘Calendar for Life’.
It features bilingual poems coupled with illustrations by children from Singapore, Malaysia, China and Melbourne based on the theme of harmony. The publication can be purchased <a href="https://www.culturalharmonynow.com" target="_blank">online</a>.
<a target="_blank" href="mailto:dleow@propertyobserver.com.au">dleow@propertyobserver.com.au</a>
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Building relationships vital to dealing with Asian buyers: Anthony Chiminello

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Less is more for Christmas shoppers this year, according to a poll of 1,000 shoppers in the 10th annual National Consumer Sentiment survey by Mortgage Choice.
This year’s survey found 40% of respondents planned to spend less during this festive season – not exactly what retailers would want to hear.
However, there is an upside: the figure is less than last year’s 52% of respondents planning to spend less, and 2011’s 41% of respondents.
Australia-wide, Victorians are less likely to change their spending habits for this year’s festive season, with 61% saying they would "spend the same", according to the broker’s spokesperson Jessica Darnborough. "This reinforces the idea that most people are comfortable with their finances," she said.
This figure is slightly higher than the 56% in NSW and South Australia, 55% in Western Australia and 49% in Queensland.
"People today are a lot savvier with their money. They don’t want to outspend their means and this ensures they feel comfortable all year round."
Another insight came from the responses to the question: ‘What would you most likeIy put a $2,000 windfall towards? One-in-three respondents said their ‘savings’.
"This shows how conscientious people are with their savings and finances these days," Darnborough said.
<a href="https://mce_host/staylor@propertyobserver.com.au" target="_blank">staylor@propertyobserver.com.au</a>
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Less is more for Christmas shoppers this year

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RP Data’s median house and unit prices in Melbourne extend over nearly 40 years from 1974 till now.
It clearly shows that the last decade has been the most volatile proceeded by much more moderate cycles in house prices.
The first comparatively rapid rise in prices was in 1988 through to 1989 when median prices of houses rose by 42% in two years. After this median prices fell and otherwise stagnated before once again reaching their previous peak eight years later in 1997.
Another period of reasonably strong and rapid appreciation occurred through 2007 and into early 2008 when the median house prices rose 20%.  Nearly half that rise was lost in 2008 as prices fell.
Unlike previous cycles there was little to no gap until the next growth phase when over 2009 and 2010 median prices rose by 37%.
Until the last decade sharp falls in prices where not common but they have been a recent feature of the market and are a sign of its volatility.
One reason for this difference was the shock of the financial crisis, which resulted in not only confidence sharp fall in consumer confidence but also a matching boost to the market through the stimulus program.
The ongoing hangover from the financial crisis, a significant fall in the rate of housing credit growth and lower levels of consumer sentiment have led to more volatile times for the housing market.
 
<hr>
 Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
 
 
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The last decade in Melbourne has been the most volatile on record

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Brookfield’s Portside Wharf development in Hamilton is proving to be a success with $83 million in sales – 130 apartments – secured since January.
The secured sales were in the completed Promenade building and the latest two releases Pinnacle and Link.
"Promenade was completed in late 2012 so purchasers have taken advantage of the completed building and the fact they can move into their new Portside Wharf home without any delay," says Portside Wharf project director Lee Butterworth.<img src="/images/stories/2013/12/11/portside-dec-11-one.jpg" alt="portside-dec-11-one" style="float: right;" height="300" width="200">
"The release of the Pinnacle building in April, and the Link building some months later, enticed new and incremental market segments into the precinct and in some cases market segments we have not seen buy at Portside before,” says Butterworth.
Promenade features 172 one-, two- and three-bedroom apartments across 15 levels and Pinnacle features 168 one-, two- and three-bedroom apartments, terrace homes and penthouses across 16 levels.
The four-level Link building features 31 one-bedroom apartments.
The final apartments at Promenade are priced from $515,000, Pinnacle apartments start from $435,000, while the remaining apartments at Link are selling from just $395,000.
"As the only absolute riverfront building at Portside Wharf, Pinnacle appeals to those wanting a premium location, spacious apartments and the fittings and finishes to match, while Link has a selection of quality one bedroom apartments, in a great location, but at a more entry level price point.
"Across all market segments, we are seeing increasing confidence in the property market, which is also helping to drive sales,” says Butterworth.
<a href="https://www.propertyobserver.com.au/news/three-bedroom-apartments-in-high-demand-at-brookfield-s-pinnacle/2013100165333" target="_blank">Three-bedroom apartments in the Pinnacle release were in such high demand</a>, a waiting list resulted in Brookfield releasing its final three-bedroom stock ahead of scheduled.
Portside Wharf residents will have access to restaurants, cafes, fashion boutiques, a Dendy Cinema, Jetts Fitness and an IGA Supermarket.
<img src="/images/stories/2013/12/11/portside-dec-11-two.jpg" alt="portside-dec-11-two" height="282" width="470">
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Brookfield's Portside Wharf secures $83 million in 2013 sales

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Retail giant Harvey Norman’s franchises in Victoria and Tasmania have been fined a total of $116,000 for misleading customers on their consumer rights.
The fines come after <a target="_blank" href="https://www.smartcompany.com.au/legal/34724-electronics-retailers-found-to-be-breaching-consumer-law-85-of-sales-staff-got-it-wrong">consumer group CHOICE concluded 85% of the salespeople they surveyed</a> in a secret shopper investigation misunderstood their Australian Consumer Law obligations.
The Federal Court ordered three franchises, located in Sale and Hoppers Crossing in Victoria and Moonah in Tasmania, to pay fines of $28,000 each, and a fourth franchise in Launceston to pay $32,000.
Following an investigation by the Australian Competition and Consumer Commission, it was revealed that staff at the franchise stores had told consumers they had no obligation to provide remedy for damaged goods unless notified within a short period of time, such as 14 days.
They also led customers to believe they had no obligation to provide an exchange or refund for faulty goods and that they had no legal requirement to provide a remedy independent of the relevant product manufacturer.
The Launceston store went a step further and stated on customer receipts that “no claims will be honoured on damaged goods unless notified within 24 hours of delivery or pick-up”.
Consumer law specialist and partner at law firm Hall &amp; Wilcox, Ben Hamilton, told SmartCompany goods and services were protected under the ACL.
While the legislation doesn’t explicitly state terms for refunds or warranty, Hamilton said companies must be aware of their obligations “that the goods are of acceptable quality, and business can’t contract out of that”.
He says the supply of goods or services up to $40,000 worth are protected by consumer law, and that “regardless of value, any goods and services ordinarily acquired of a personal or domestic or household use” are protected.
Hamilton says businesses violating these obligations are doing so “at their own peril”.
An additional obligation retailers must now be aware of is their responsibility to offer consumers a refund or repair of all faulty big ticket purchases, regardless of the warranty conditions.
In 2011 the legislation changed which saw retailers responsible for major failures to big ticket purchases.
In these situations, the consumer gets the option to end the contract with the supplier and seek a replacement, repair of refund.
For a refresher on the obligations in the ACL, see the <a target="_blank" href="https://www.accc.gov.au/consumers/consumer-rights-guarantees/consumer-guarantees">ACCC’s guidelines on guarantees</a>.

<hr>
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
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Harvey Norman franchisees fined $116,000 for misleading consumers

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Chinese smartphone maker Xiaomi is looking to expand internationally during 2014, with the south-east Asian region a likely first growth target, according to reports.
According to <a target="_blank" href="https://www.techinasia.com/xiaomi-sets-its-sights-on-southeast-asia-with-plans-to-set-up-singapore-office-as-quickly-as-possible/">TechInAsia</a>, the Chinese tech company has revealed it is looking at south-east Asia as it next market, with its first stop “most likely” in Singapore.
Hugo Barra, who resigned in August as Google’s vice president of product management in favour of the position at Xiaomi under chief executive Lei Jun, revealed the company views Singapore as an important regional hub.
“I’ve been spending a lot of time with potential partners in other countries, in south-east Asia primarily,” Barra said.
“We just came back from a trip to Singapore a few weeks ago, and we’re trying to get our operations for south-east Asia set up as quickly as possible.
“It’s an important hub for the region. A lot of businesses start there, so that’s why we researched that area first.”
The Chinese smartphone maker first gained the attention of the tech industry after analysts noted it had beaten a range of established rivals, including ZTE, HTC and Lenovo, to claim one of the <a target="_blank" href="https://www.smartcompany.com.au/technology/information-technology/34035-xiaomi-claims-top-five-spot-in-chinese-smartphone-market">top five spots in the Chinese smartphone market</a>.
Xiaomi is estimated to now claim around 7.1% of the Chinese smartphone market, a higher share than larger rivals such as HTC (6.8%), Lenovo (6.3%) and ZTE (5.1%).
China is believed to be the world’s largest by volume.
<a target="_blank" href="https://www.smartcompany.com.au/technology/information-technology/34159-xiaomi-sells-100-000-mi3-smartphones-in-90-seconds-says-hugo-barra">In October</a>, Xiaomi made headlines after Barra claimed it had sold 100,000 of its Mi3 smartphones within just 90 seconds of its launch.
The feats were made all the more impressive by the fact the company only launched in 2010 and didn’t begin shipping smartphones until 2011.
However, the company has often been criticised as being an Apple imitator due to Jun’s preference for black mock turtleneck tops and jeans, along with the company’s use of an iOS-style user interface, called MIUI, on top of Android.

<hr>
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
 
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Chinese smartphone maker eyes up international expansion

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Over the last three years, the Aussie dollar has outperformed just about all other currencies.
In recent weeks, however, sentiment has turned bearish with many analysts predicting a rate closer to 80 US cents 12 months from now. The pendulum is swinging in the opposite direction now that the UK, Europe and the US economies are all showing some healthy signs of recovery.
Magnetic forces at play
Given the exchange rate is a relative value (one currency against another) it may help to think of exchange rate influences as magnetic forces where the opposites attract. So if, for example, one side of the currency (the Australian economy) is performing badly and the other side (the US) is improving or growing strongly then these opposite forces work together to move the currency quickly.
This is what we have seen drive the value of the AUD down at the same time that the USD is being pushed higher, triggering the recent move lower from 97 cents to 90 cents in two months.
It is these same forces (in the opposite direction) that drove the AUD/USD exchange rate higher between 2009 and 2011. When both forces are moving in the same direction it then becomes a game of inches and we see more stable trading ranges and a decrease in volatility.
So will these opposite forces persist in 2014?
It seems the new year will begin in the same vein with US and UK economies in particular expected to continue their recovery. The markets have been fixated by the US Federal Reserve and its quantitative easing program with a general expectation that they will begin to wind down their monthly purchases of around 85 billion USD a month. The question is not if but when.
This will serve to strengthen the USD as it will decrease the money supply. We have already seen this begin to play out in recent months and Fridays stronger than expected employment report has only increased speculation this may occur at the Fed’s next meeting on December 17.
As things stand, and if everything goes to plan (mind you it rarely does), towards the end of 2014 or early 2015 could coincide with a possible increase in US interest rates which would add to the USD strength. The market has just about priced this in already and so I expect the pace of the decline in the Aussie dollar to slow.
Losers beware
Importers, travellers and overseas property buyers are set to lose out from a lower Aussie dollar in 2014. But it doesn’t have to be this way. There are tools available to those concerned about a lower Aussie dollar in 2014 and it pays to plan ahead.
Importers and property investors can use hedging tools such as forward exchange contracts or options, while travellers can take advantage by locking in travel money in advance of an overseas trip on foreign currency debit cards.
By locking in exchange rates in advance the Australian dollar cost base is fixed, providing cash flow certainty and peace of mind.
<a href="https://www.linkedin.com/in/jimvrondas" target="_blank">
<hr>
Jim Vrondas</a> is chief currency and payment strategist, Asia-Pacific at <a href="https://www.ozforex.com.au/" target="_blank">OzForex</a>, Australia's leading international money transfer service. 
OzForex's cutting edge technology powers foreign exchange services for 100,000 private and institutional clients across six continents, and the company is a key provider of <a href="https://www.ozforex.com.au/news-commentary/daily" target="_blank">forex news</a>.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
 
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The magnetic forces behind the Australian dollar in 2014

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The great divide facing Australia CBD office markets deepened in the third quarter of this year.
While office investment activity soared in the three months to September, CBRE's latest Q3 Australia Office MarketView report showed that weakening business investment across the board had prompted occupiers to increase their focus on preserving margins.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/12/11/chart-of-the-week-dec-11-big.gif" title="Click to enlarge"><img src="/images/stories/2013/12/11/chart-of-the-week-dec-101-small.gif"></a>
"As a result of occupiers adopting cost saving measures, employment growth in the office market has slowed markedly, while a number of CBD tenants are also consolidating or contracting operations and therefore, space requirements," the report said.
CBRE Senior Research Manager Claire Cupitt said that had led to negative net absorption in all markets so far this year.
CBRE is forecasting that in 2013, a total of 170,000 square metres of negative net absorption is due to be recorded in all major CBD's  nationally – 30,000 square metres more than in 2009 during the depths of the Global Financial Crisis.
Hardest hit has been the Brisbane office market, with the CBD recording about 90,000 square metres of negative net absorption.
Ms Cupitt said it was anticipating demand for space over the next few years would be largely driven by the business service sector in line with broad sector based economic improvement.
The report also highlighted the rise in sublease availability across Sydney, Melbourne, Brisbane and Perth, pointing out that in some cases it was at historic highs.
"Space consolidation and contraction accounts for approximately 80% of sublease availability in the Sydney CBD," it noted.
CBRE regional director of office services Andrew Tracey said in line with the shift in sublease availability, incentives had increased in most markets.
Melbourne and Brisbane CBD incentives are currently around 30%, while Perth CBD incentives also continue their upward momentum, with expectations of 14% by the end of the year.
The national vacancy rate stood at about 10.1%, but CBRE pointed out that several capital city markets experienced record high availability. Melbourne vacancy rates have peaked at 9.8% - up from 7.0% in July and Brisbane’s CBD has reached an unprecedented 14.1%.
Rents remained unchanged in the quarter.
Despite those weakening fundamentals, investment activity remained strong in the third quarter, with domestic and offshore investors outlaying $3 billion purchasing office assets around the country.
The Sydney CBD accounted for $785 million worth of sales during the quarter.
CBRE is tipping prime yields in Sydney to hover at 7.20% by the end of 2013 – down 30 basis points from December 2012, while Melbourne prime yields are expected to average 6.8% at the end of the year.
Brisbane prime yields are forecast to average around current levels of 7.70% at year end and Perth yields are also expected to remain steady at 8.00% into early 2014.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
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