Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

Joel Robinson

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

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As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

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The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

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Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

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The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

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"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

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Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

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The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

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Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

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Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

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Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

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.

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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.

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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.

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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.

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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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The Greater Building Society has cut its one year fixed home loan rate by 40 basis points to 3.99% ahead of Tuesday’s Reserve Bank meeting where the cash rate is expected to be cut to 2.5%.
The Greater home loan rate will be available from Monday, August 5, as part of a packaged home loan rate offering.
The current rate stands at 4.39%.
A search across mortgage comparison websites revealed that no other lender is currently offering a home loan rate below 4%. It continues a trend of lenders cutting their fixed-rate loans.
The comparison rate will be 5.44%.
The Greater will also be cutting two other one year fixed home loan rates on Monday by 40 basis points.
The Great Rate Home Loan will have a 4.19% interest rate and a comparison rate at 5.33%, while the Standard Home Loan will have a 4.55% interest rate and a comparison rate at 5.69%.
The Newcastle Permanent Building Society currently offers the next lowest one year fixed home loan rate at 4.39%, with the comparison rate at 5.56%
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Greater Building Society cuts one year fixed-rate loan to 3.99%

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The federal government has announced that it will charge a 0.05% levy on bank deposits up to $250,000 from January 1 2016.
The levy will be charged to the banks - not savings account holders - but the banking industry has already indicated that costs will be passed on to bank customers.
The Australian Bankers Association hit out at the levy with chief executive Steven Munchenberg calling it “unnecessary” given that Australia has one of the safest banking systems in the world.
Munchenberg told ABC News there was a possibility the levy would be passed on to borrowers
“The problem will be that if we don’t pass it on to those customers with savings, then it will increase the funding costs of banks because we are largely funded through deposits,” he said.
The announcement of the levy was made by federal treasurer Chris Bowen, who said the money would go into a Financial Stability Fund to be used in the event of a bank collapse to protect mum and dad investors.
“It'll be quarantined from the rest of the Budget and just put aside in case there is ever a need with a bank getting into trouble in Australia - bank, a building society or a credit union,” Bowen told Channel Seven.
"It hasn't happened in Australia for quite a while, but we can't be complacent. The Reserve Bank, APRA, ASIC, have all suggested to us that this is a good idea."
It is forecast to raise $733 million in its first 18 months – the money will be counted as revenue in the budget.
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Banks may pass on new government deposit levy to mortgage holders

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The fashion designer Lisa Ho and ragtrader Philip Smouha have sold their 380-square-metre retail premises in Queen Street, Woollahra for $3.9 million to a company called Flocolo 1 Pty Ltd, whose shareholder is Charlotte MacKenzie, the bookseller wife of Adrian MacKenzie, the private equity entreprenuer.

<img src="/images/stories/2012/10/lisaho.jpg">
The three-storey 1905 building (pictured above) with rear lane access has three separate lease spaces.
Pauline Goodyer from <a target="_blank" href="https://www.gdrealestate.com.au/includes/property/search.asp?f_propertyID=1861441&amp;f_ct=1&amp;f_st=1&amp;f_ps=6&amp;xsl=2421&amp;stylename=default">GoodyerDonnelley Real Estate </a>persisted on the listing having initially offered it in 2007 with $6 million-plus hopes.
<img src="/images/stories/2012/10/lisaho3.jpg">
The 222-square-metre holding cost $4.5 million in 2004.
Featuring a handsome façade and impressively proportioned rooms with soaring patterned ceilings and superb period details, it spans three levels as well as a basement.
<img src="/images/stories/2012/10/lisaho2.jpg">
Lisa Ho had the ground floor retail outlet and the second floor hairdressing salon had been empty.
The queen of Australian fashion Collette Dinnigan gave <a target="_blank" href="/news">Woollahra'</a>s burgeoning fashion precinct a fillip since <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/fashion-royalty-boosts-queen-street-s-leasing-pedigree/2011062250571">the opening of her store on the Queen Street retail strip </a>in 2011.
The former Random House publishing production manager Charlotte MacKenzie opened her Double Bay bookshop, <a target="_blank" href="https://www.oscarandfriends.com.au/">Oscar &amp; Friends </a>in 2006 and more recently in Crown Street, Surry Hills.
 
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Bookseller Charlotte MacKenzie buys onto Queen Street, Woollahra from Lisa Ho

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New home sales figures illustrate the changing composition of new home building this year, according to the Housing Industry Association (HIA).
“Detached housing has gained momentum as non-detached housing - primarily mid/high density product - has lost momentum to date,” chief economist Harley Dale says.
“The leading home building indicators of both new home sales and building approvals are highlighting this trend.”
The HIA New Home Sales report, which surveyed Australia's largest volume builders, shows that total seasonally adjusted new home sales rose by 3.4% in June - the fourth consecutive rise.
<img alt="hia-aug-1-chart_-_Copy" height="291" width="470" src="/images/stories/2013/08/hia-aug-1-chart_-_Copy.jpg">
Detached house sales rose by 7.3%  in the last month of the 2013 financial year, but multi-unit sales dropped by 17.5%.
“Last financial year was a tale of two halves for new home sales,’’ Dale says.
‘’The first stanza was dominated by weakening detached house sales up against stronger multi-unit sales; the latter marked by an improving detached house segment occurring as the multi-unit market lost momentum.”
Dale says the overall result is that new home sales fell by 4.3% in 2012/13 when compared to the 2011/12 financial year.
“Given it was a weaker year overall for new home sales it has been very encouraging to observe upward momentum build as we moved through 2012/13,” Dale says.
“There is still a long way to go. New home sales volumes are 27% down on their long-term average. A range of leading indicators beyond just new home sales are yet to provide evidence of Australia approaching the healthy and geographically broad-based new home building levels required by our growing population and transitioning economy.”
In June detached house sales rose by 19.7% in Victoria, 7.1% in Western Australia, 3.9% in New South Wales, and 0.5% in South Australia. Detached house sales fell by 11.0% in Queensland.
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Home building composition changing with 7.3% rise in detached new home sales in June: HIA 

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Sydney managed a preliminary auction clearance rate of 80.8% last weekend, according to Australian Property Monitors (APM), the third consecutive week of an 80% plus preliminary clearance rate.
Last week we asked readers if Sydney could make it three weeks in a row. Around 60% said it would not, but they were proved wrong with a preliminary clearance rate of 80.8% recorded.
So can the 80% plus clearance rate run continue?
Today we ask:
{module Will Sydney continue its run of 80% plus preliminary auction clearance rates for the fourth consecutive weekend?}
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Will Sydney maintain its 80% auction clearance rate this weekend?

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Economist Stephen Koukoulas expects that RBA governor Glenn Stevens will hang up his rate cutting "scissors" after - as forecast by most economists - the cash rate is cut to 2.5% on Tuesday.
'The Kouk' tweeted to his 10,171 followers: 
<a href="https://twitter.com/TheKouk" target="_blank"><img alt="kouk_scissors" height="77" width="470" src="/images/stories/2013/larry_uploads/kouk_scissors.jpg"></a>
In his column in Business Spectator today, he writes: 
"Next week’s interest rate cut will probably be the final installment of monetary policy easing in the cycle as there are signs that the economy is not only bottoming at a growth pace around 2.5%, but that a move to trend GDP growth higher is on the cards for 2014."
Other noted economists, such as Bill Evans from Westpac, expect the cash rate to fall to 2% by the first quarter of 2014 while <a target="_blank" href="/news">NAB's Alan Oster expects a second 25 basis point rate cut in November.</a>
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Glenn Stevens to hang up his scissors after Tuesday rate cut: Stephen Koukoulas

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In 2003, the State Government announced that the stevedoring wharves at East Darling Harbour would be transformed into a new urban precinct. And now, momentum is building as the long awaited and often controversial Barangaroo – a $6 billion commercial, residential and leisure development – is set to revitalise this quiet part of the city.
The Barangaroo Concept Plan was approved in February 2007 and has been amended each year to increase the floor space and to refine the Headland Park and Northern Cove.
In 2010, it was amended again to include a hotel on a pier with additional height and floor space.
The development’s most controversial amendment, however, was the recently approved Crown Casino, which will undoubtedly attract an influx of international high rollers to the precinct.
Earlier this year, we interviewed a couple of key Barangaroo stakeholders for a feature in our Lifestyle Guide publication. Greg Flynn, Barangaroo Developer, Lend Lease, said in what is destined to become Australia's first large-scale carbon neutral community and there will be approximately 800 apartments in the residential component of Barangaroo South.
The development will offer 159 waterfront apartments, with a mix of one, two and three-bedroom apartments, all with uninterrupted harbour views.
Andrew Wilson, Managing Director, Barangaroo South, said the apartments were Sydney’s last significant CBD residential waterfront opportunity and he described its contemporary design as offering the quintessential Sydney harbour living experience that would enhance Sydney's position as a must-see destination.
It is anticipated that the apartments will be released to the market during the second half of this year and completed in mid-2015.
Each building is targeting a 5-Green-Star residential rating and incorporates a range of sustainability measures.
At ground level, Barangaroo South will include cafes and a standout signature restaurant at the northern end facing the square and cove.
It will also be Sydney’s newest dining ‘hot spot’ and home to some of the most esteemed local and global chefs.
For over a decade, Barangaroo has been a cause of concern among residents that live in the northern part of Kent Street.
Many property owners in this area purchased million dollar views when height restrictions were in place and, while Barangaroo was still in its planning stage, the value and sales potential of some of these apartments were negatively affected.
With apartments in Barangaroo tipped to start selling from $1million, I am confident that residents in Kent Street as well as Walsh Bay and The Rocks can expect an increase in the value of their properties over the next 5-10 years.
Carlie Ziri is the director of <a rel="nofollow" href="https://www.lifestylepropertyagency.com/" target="_blank">Lifestyle Property Agency.</a>
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Barangaroo development will revitalise East Darling Harbour

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Gold Coast property developer and mortgage fund manager LM Investment Management has been placed in liquidation.
Creditors voted to wind up the company at a meeting on the Gold Coast yesterday.
“The Administrators have advised that at a creditors meeting held yesterday creditors voted that LM Investment Management Limited (LMIM) be placed into liquidation and that the administrators, Ginette Muller and John Park be appointed the liquidators to wind up the Company,” said a spokesperson for FTI Consulting.
LM Investment Management said it managed around $3 billion of funds under management before it collapsed in March this year with its various mortgage funds promoted in over 70 countries through a network of financial advisers.
However, the book value of LMIM’s assets is just $7.934 million, just a fraction of the  $400 million poured into LM mortgage funds by overseas investors, reported the Gold Coast Bulletin.
Its biggest residential project is the Maddison Estate Development in Pimpama which was lent $249 million through the LM Managed Performance Fund.
Ahead of the creditors meeting, an administrators’ report sent to creditors on July 25 recommended that it would be in the best interests of creditors for the company to be wound up.
“In our view, the winding up of the company is the best option for creditors. If creditors resolve to wind up the company, Liquidators will be appointed to realise the company’s assets for the benefit of creditors,” said of John Park and Ginette Muller of FTI Consulting.
“This option also allows voidable transactions, insolvent trading, breaches of director duties and other offences to be investigated more thoroughly.
“If the company is wound up, creditors with guarantees from the company’s director(s) could pursue the director for those debts immediately.”
FTI Consulting said that at this stage the estimated dividend to creditors for winding up the company is unknown.
“We anticipate a dividend to creditors may be distributed in liquidation, however at this stage we are unable to quantify the amount of such a dividend due to the commercially sensitive nature of the property-related assets of the company and the unknown recoveries in relation to voidable transactions,” the administrators said.
The administrators also said their investigation had found some evidence to indicate that the company may have traded whilst insolvent for a period and entered into certain transaction that may be voidable against a liquidator.
The administrators also said investigations revealed that some LMIM directors may be guilty of various offences committed prior to the appointment of the administrators.
ASIC is seeking orders in the Queensland Supreme Court that liquidators from PricewaterhouseCoopers be appointed to wind up the $326 million LM First Mortgage Income Fund (FMIF).
The fund is the subject of a dispute over who should be the responsible entity. Deutsche Bank appointed receivers from McGrathNicol to manage the fund whilst Trilogy Funds Management Limited seeks control.
Deutsche Bank has provided a line of credit facility worth $25 million to the fund.
A judgement on who should control the fund has not yet been made.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/lmim-founder-peter-drake-under-pressure-to-repay-%2417-million-loan-as-receivers-appointed-to-%24326-million-mortgage-fund/2013071163189">Trustees of the $400 million LM Managed Performance Fund</a> are demanding that group founder Peter Drake pay back more than $17 million in loans.
 
 
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Creditors vote to wind up LM Investment Management with possible action against directors

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While there is no great growth spurt in the property market, Sydney is performing at its best in 20 years says Residex chief executive John Edwards.
Sydney house prices are up 7.37% over the past 12 months to June with a median house price of $715,000 according to Residex calculations.
RP Data-Rismark has a Sydney median house value of $645,000 as of the end of July but almost identical year-on-year growth to July of 7.3%.
“That is the largest rate of growth we have seen in Sydney over the last 20 years and even over the last decade,” Edwards told Peter Switzer on Sky Business.
“You’ve got an 80% clearance rate [in Sydney],” added Edwards.
Sydney's annual growth is more than double the overall market performance with Residex recording 3.48% growth in national house prices over the year to June.
Residex figures show Perth performing even better with an 8.23% rise in its median house price over the past 12 months to $505,500.
RP Data-Rismark figures are similar, recording an 8.8% rise in Perth house values and with an almost identical median of $510,000.
Edwards attributed the rise in Perth to the resources boom and also to miners in the northern regional areas of Western Australia heading back to buy in the capital as the investment boom peaks – Residex records a 3.92% adjustment in regional WA house prices over the past quarter to $335,500 and a 2% fall over June.
Overall, WA mining towns are up just 1.2% over the past year – well below inflation.
Edwards says he expects a “period of adjustment in WA country areas”.
Residex has Melbourne house prices up 4.82% over the year to June to $582,500 with Edwards saying he was a little bit bemused as to the Melbourne performance.
“I don’t know quite what is going on there,” he told Peter Switzer.
RP Data-Rismark records similar annual growth for Melbourne, up 4.4% to July with a median house value of $530,000.
He has Brisbane up 6.37% over the past year to a median house price of $439,000 – out of synch with RP Data-Rismark which records annual growth to July of just 1% though with a similar median of $450,000
Edwards said the major regional cities in Queensland are doing rather well as are those more reliant on tourism such as Cairns, given the fall in the dollar.
“Mackay is suffering because the mining boom has come off, but it suffers less than Gladstone, because it has some offset through tourism,” he says.
Residex has the unit market not doing as well as houses up just 1.26% over the past year to June with Perth strongest at 5.43% and a median of $444,000 with more modest growth in Sydney (2.29%) and Melbourne (1.87%).
Brisbane unit prices fell 0.85% over the past 12 months but are up 0.8% over the June quarter, with Edwards suggesting the market may be “starting to come out of its slump”.
The relatively poor performance of units, says Edwards, is a function of supply “being brought too easily on to the market”
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Sydney housing market strongest in last 20 years: Residex

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The pool and gym are operating, and so is the bbq area, so the residents in the Divercity development in Sydney’s Waterloo are eagerly awaiting the opening of their residential roof top cinema.
Developed by Becton, the roof top cinema is complete but is it the final stage of acoustic testing.
Rooftops cinemas is a relatively new trend as developers seek something cutting edge.
The development manager of Divercity (pictured below) Michael Hermans says the cinema was making a statement.
<img src="/images/stories/2013/08/divercity-aug-2-one.jpg" width="470" height="255" alt="divercity-aug-2-one">
Hermans says the rooftop cinema, as well as the other facilities on offer have been a massive draw card for rentals.
“Out of the 80 rental properties we have in the building, 90% were leased before we even settled the property.
“All the facilities are a massive draw card for rentals, it definitely helps with demand," says Hermans.
Residents can potentially save $40 a month on cinema fees, as well as the overpriced candy bar.
The screen is approximately 2.5 metres wide by 1.5 metres high and the area could comfortably hold up to 100 people.
The space can be used as both a rooftop cinema and a barbeque area for parties and functions.
Residents of the 650 apartments and townhouses will also have access to a resident’s only tepanyaki bar, pizza oven and yoga studio.
Associated noise issues with an outdoor cinema means there will only be two movie nights a month and will exclusively be for residents and guests.
It’s up to the body corporate what flicks will be screened, with Hermans saying a mix of classics and latest releases will most likely be on the cards.
The rooftop trend has also been seen in Melbourne with The Block Sky High apartments also jumping on the wagon with a rooftop BBQ area and an outdoor cinema.
Hermans, who is originally from Melbourne, says the rooftop trend is well received down south even though it’s a lot cooler.
“The weather in Sydney is far better, it offers more of an outdoor lifestyle.
“I think it’s a great idea, it’s new, a little quirky, and people like those sort of things.
“It can only get positive feedback," says Hermans.
All residents in many new high rises are entitled to access rooftops in a trend towards <a target="_blank" href="/news">democratisation of the previously sealed off upper levels</a>.
Montrose (pictured below) – a 10-level development comprising of 104 apartments in <a target="_blank" href="/news">North Sydney</a> – was among the first apartment complexes that marketed resort-style resident rooftop access, including a rooftop cinema.
<img src="/images/stories/2013/08/montrose.jpg" width="470" height="264" alt="montrose">
Last November Curtis Field, director of project marketing at Colliers International, which has been marketing Montrose, told Property Observer a rooftop cinema was still fairly unusual for an apartment project in Sydney, with the trend starting in Melbourne's entertainment district retail terraces.
He says the cinema was included in the design to appeal to younger couples and singles who are expected to show interest in Montrose, and he says it will “add some vibrancy” to the project.
The cinema is made to feel like a home cinema and can be booked through the body corporate.
Field says apartments are getting smaller and therefore residents are using the rooftops as common areas for entertaining.
“It offers added value of views and amenities that they [residents] don’t have to pay for.”
The multi-stage <a target="_blank" href="https://divercitywaterloo.com.au/">Divercity</a> is scheduled for an early 2015 completion.
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