Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

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Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

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The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

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Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

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Joel Robinson

The Maybelle brings 27-storey parkside tower to market near North Strathfield

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.

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

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.

[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.

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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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 Australia’s population increased by close to 400,000 new people last year.  That’s like tacking on another Canberra or Newcastle to the Australian land mass.  

Most of the growth took place on the eastern seaboard, with Perth chipping in with its 83,000. Victoria grew by 100,000 new residents.  Queensland and New South Wales grew by about 90,000 each.  
More births than deaths, made up for about 40% of the increase.  Just under two-thirds of our growth (235,000 last year) now comes from overseas migration.  
I think we handle our population growth quite well. 
We need more, not less of it. 
Our population and economy, for mine, are way too small.  We need to build some serious economies of scale.  
Australia’s vital organs and circulatory system are outside its body.  What I mean by this is that what really matters to us, economically, is some distance from our shores and we have very little influence or control over much of it. We seem to lurch from boom to boom – wheat, wool, coal, iron ore, now gas etc. 
What happens in China/Asia and America’s sphere of influence (in many ways) greatly affects our prosperity.  This will remain such for generations to come.  But we also start to create our own larger markets.  
We are on our way. 
Did you know that Australia’s population has increased by 30% in just 20 years? 
We have added the equivalent of Sydney’s population since the early 1990s.  Queensland’s population has increased by 50%; Western Australia’s and the Northern Territory’s by about 40%.  Half of the growth over this period came from natural increase.  
Big Australia?  Well maybe not, and I don’t want to give Kevin Rudd anymore oxygen.  But sadly there is no conversation, not a pip, regardless of party, about population targets, urban matters and regional planning.  Serious policies (not politics) about such matters are long overdue.  
Our current rate of population growth is up 25% on two years ago.  
The big winner in this overall lift in more bums on seats includes Western Australia, with population growth up 50% (or 28,000 more people each year) on the 2010 trough and Queensland plus Victoria, both with lifts in excess of 30% or more than 23,000 new people per annum. 
Victoria equals population growth.  Well I’ll be damned.  Bloody great place to visit.  But living there?  
Those urban places that saw over 4,000 new heads (above ground) during 2012 include:  
Melbourne (77,000 increase); Perth (65,000); Sydney (62,000); Brisbane (43,000); Adelaide (14,000); Gold Coast (11,000); Canberra (7,000); Sunshine Coast (5,000); Newcastle (5,000) and Townsville (4,000).  
These top ten growth cities hold four-fifths of Australia’s population growth. 
Our eight capital cities combined make up 70% of the country’s population growth and whilst Queensland is the most decentralised state or territory, two-thirds of its population growth takes place between Noosa, Ipswich and the NSW border.  
 
<hr class="system-pagebreak">
Not only has there been an increase in the proportion (and number) of overseas migrants as part of the total population mix in recent times, where these migrants come from has changed too.  
Yes, New Zealand (29,000 last year), the Old Dart (12,000) and South Africa (5,000) still add considerably to our long-term permanent inflow, but many new migrants come from elsewhere abroad. 
Just over 35,000 new migrants settled here from China and India last year (17,500 apiece).  A lot also have also come from the Philippines (7,000), Malaysia and Vietnam (4,000 each), Sri Lanka (3,500) and Iraq (2,500).  
Remember these figures are for long-term permanent residents. Our 235,000 overseas increase, whilst a net result (includes incoming and outgoing migrants), does include those arriving on a short-term basis. 
The ABS estimates that about half of our net overseas migration is temporary, whether it is on work or student visas.  
Also changed of late is the level and distribution of interstate migration across the country.  
Queensland is the best case study in this regard.  Twenty years ago two out three new residents in Queensland moved from interstate.  Ten years ago it was close to half.  Five years ago it was a quarter.  Last year it was just one eighth.  
Today half of Queensland’s population growth comes from overseas migration and another third (actually 37%) from natural increase.  
Queensland’s overseas migration profile is very similar to Australia’s overall. 
Half of those who still come to Queensland from interstate originate from New South Wales and especially from western Sydney.  One in four come from Victoria, again mostly from the western flank of Melbourne, 10% come from Perth.  
We are, and it looks like we will remain, quite urbanised.  
Capital cities and a select few major regional centres attract most of the population growth. 
Increasing demand, tempered with limited new housing supply, is a positive for property investors.  If managed well, it is also a bonus for the local residents, as size often brings better services, wider choice and deeper markets.  And yes, sadly, more fast food outlets – but you don’t have to eat there!  
Household size is also increasing. 
We have been writing about such for some time (enter ‘household size’ in the Missive’s search area for a fun evening’s reading) and what this means is less overall new housing demand than has historically been the case.  
The cause of this rise isn’t low affordability, as is often spruiked, but demographics – more babies are being born and more migrants are coming from countries with traditionally larger families.  Also, the Chinese who move here want to have more children than allowed (afforded) in China.  
Limiting new housing demand is the GST on new construction and stamp duties.  Both are forcing many to age in place.  Stamp duties, in particular, hinder local moves.  This is why we are now seeing more money spent in Australia on renovations than new builds.  
The resurgence of the ‘granny-flat’ and ‘man-cave’ or shed is also seeing demand being increasingly satisfied on existing premises rather than on new sites.  
When Kevin McCloud has a TV show about his new shed, you just know it is a popular trend.  
When it comes to actually building new housing and despite the increase in household size, attached product is increasingly popular and the smaller product, therein, is becoming more prevalent.  
A lot of this has to do with price (and the Australian investment model) but also we are importing transience. 
If half of our net overseas intake is coming here on a less than permanent basis and those numbers are rising, surely the need for temporary accommodation or housing that suits a more ‘living out not in’ visitor lifestyle must also be on the rise.  
In a country with as much land as Australia, one might shake one’s head and wonder why.  I still live on acreage.  We haven’t moved that far from our first place. 
Increasingly I feel like the odd man out, but  I don’t think I am alone.
Michael Matusik is the founder of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.matusikmissive.com.au/">Michael’s Blog</a> or follow him on <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.facebook.com/ThinkMatusik?fref=ts">Facebook</a> and <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a rel="nofollow" href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
Construction photo courtesy of creative commons/flickr.
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We need to think about how we deal with a rapidly expanding population: Michael Matusik

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A slowing economy and shrinking white collar jobs market has pushed the national office vacancy rate into double figures for the first time since July 1999.
The national office vacancy rate increased from 8.4% to 10.1% over the first six months of 2013 with an additional 126,000 square metres of CBD office space becoming vacant over this period, according to the latest Property Council of Australia office market report.
Including fringe office markets - some of which performed better than their CBD counterparts - total net absorption (the amount of space leased minus the amount of space vacated) was negative 172,000 - the lowest since July 2009.
<img alt="office_market" src="/images/stories/2013/larry_uploads/office_market.jpg" width="470" height="201">
“There is no surprise that weak office space demand mirrors Australia’s lacklustre economic fundamentals,” says PCA chief executive Peter Verwer.
“Stubbornly low business and consumer confidence is impeding job growth and new investment, which translates into dwindling demand for office space.
“The decline in white collar jobs growth to a third of the level experienced prior to the GFC has severely blunted demand and business expansion plans.”
However, according to Colliers International's director of office leasing, Simon Hunt, there is no need to hit the panic button with a low supply environment forecast post 2013 due to a shift in global economic sentiment which will flow through to Australian office markets.
"The forecast for the next 12 months is for just over 93,000 square metres of new supply added to Australia’s CBD office markets (of which approximately 66,000 square metres or 71%, is pre-committed), and only 152,000 square metres (approxiametely)  for the whole of 2014 (of which 95,760 square metres, or 63%, is pre-committed). 
“To put this in perspective, during the first six months of 2013, Melbourne added a substantial 165,000 square metres of which approximately 140,000 square metres was pre-committed.
"In comparison, Sydney had just 54,000 square metres (of which 97%, or just over 52,000 square metres, was pre-committed).
“Long term trends indicate that in cycles when we see limited supply, a decline in vacancy is also observed.”
The biggest spike over the first half of the year was in the Brisbane CBD where the office vacancy rate increased from 9.3% to 12.8% and with the city accounting for more than half (64,000 square metres) of the negative net absorption of CBD office space over the half year.
<img alt="office_market_pca" src="/images/stories/2013/larry_uploads/office_market_pca.jpg" width="470" height="294">
PCA chief executive Peter Verwer attributed the rise in the Brisbane vacancy rate due to “slowing population growth, an inert resource sector and competition from the Brisbane Fringe market”.
Vacancy in Brisbane’s fringe market also increased from 9.6% to 11.8%, largely the result of supply additions of 52,182 square metres – but is now a full percentage point below that of the CBD market.
The vacancy rate in Chermside in Brisbane north is around 7% with many fringe markets performing better than their big CBD counterparts.
The Sydney CBD vacancy rate increased from 7.2% to 8.9% over the first six months of the year with the premium end of the market, the only grade of assets to record positive demand.
The vacancy rate is below 8% in Parramatta and North Ryde, at or just above 10% in Chatswood and North Sydney, with the highest vacancy rate in Crow’s Nest at just below 12%.
Melbourne was the strongest office market over the first half of the year with a negative net absorption of less than 4,000 square metres despite 168,000 square metres of new office space becoming available to lease.
More than 72,000 square metres of office space was taken up in the Melbourne CBD over the six month period.
“During the first half of 2013, supply additions grew by more than two and a half times the historical average at 167,621 square metres leading to a modest rise in Melbourne’s vacancy rates. Yet despite this, Premium and A Grade stock experienced positive demand,” says Victorian executive director of the Property Council, Jennifer Cunich.
“North Eastern and Docklands precincts also performed strongly leading the way with a vacancy rate less than a third of the Melbourne CBD average. These results reflect the strong fundamentals unpinning Melbourne’s expanding office market.”
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lschlesinger-FZcF9M3vE6

National office vacancy rate hits 10% for first time since 1999: PCA

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It's well known that some commentators have been going on and on (and on) about the risk that Australia will sink into recession.
Australia's GDP growth is bumbling along at a trend of 2.6% per annum or a seasonally adjusted 2.5% p.a.
The bearish excitement reached fever pitch when in the last quarter Australia's GDP was again reported at just 0.6% for the 3 months to March, suggesting a possible forthcoming downward trend.
GDP growth:
<img alt="Graph: GDP growth rates, Volume measures, quarterly change" src="https://www.abs.gov.au/ausstats/abs@.nsf/a866861f12e106e0ca256a38002791fa/52afa5fd696482caca25768d0021e2c7/Body/0.18FC!OpenElement&amp;FieldElemFormat=gif" width="249" height="320">
Source: ABS
Not a great result, but monetary policy takes time to see its full results, and, after all, 0.6% is still growth, even if it is not considered to be strong growth.
The March GDP result of 0.6% was quite some way lower than had been initially forecast, but I remarked at the time that there remains every chance that the figure could be revised upwards. And if that were to be combined with a half-decent result for the June quarter, we could yet come in at closer to 3% per annum than 2.5% for the year to June 2013, thus leaving us wondering what all the fuss was about.
Furthermore, last week's inflation figures revealed one piece of gratifying news - the mining construction boom has not left Australia with an inflation problem, such as has been the case when booms have been experienced.
Strip out the effect of the carbon price, and annualised inflation actually sits below the targeted 2-3% range (and thus ultra-low interest rates may be maintained).
 
<hr class="system-pagebreak">
And so to the building activity figures released this month.
Again, not a great set of results, although dwelling units commenced increased over the past year for both houses (+5%) and units (+21%) implying that the Reserve Bank's stated plan to stimulate dwelling construction may be beginning to take some sort of shape.
Dwelling units commenced:
<img alt="Graph: Dwelling units commenced" src="https://www.abs.gov.au/ausstats/abs@.nsf/a866861f12e106e0ca256a38002791fa/4fb5acfc0074529eca2576b00017c434/Body/0.4B10!OpenElement&amp;FieldElemFormat=gif" width="250" height="320">
Source: ABS
In all the excitement of highlighting the soft year-on-year building activity figures, very little weight was given to the following note in the Building Activity release.
Significant revisions to this issue:
<ul type="square">
<li>
the total value of work done in Australia during December quarter 2012 has been revised upwards by $582.1m or 2.8%.
</li>
<li>
the total value of work commenced in Australia during December quarter 2012 has been revised upwards by $1,790.9m or 8.8%. This was driven by revisions to non-residential commencements ($844.4m) and new other residential commencements ($621.5m).
</li>
<li>
the number of dwelling unit commencements in the December quarter 2012 has been revised upwards by 3326 dwellings or 8.4%.
</li>
</ul>
All revisions to the December 2012 quarter's figures and all of them in one direction: upwards.
It's also interesting to note that actual capital expenditure undershot expectations in the March quarter in falling by 4.4%, so it will be very interesting to see what is reported for the June quarter on August 29.
There may be implications for GDP growth which could result in upward revisions.
 
<hr class="system-pagebreak">
The Reserve Bank will have been heartened by a major correction to the currency, with the Aussie dollar having devalued markedly against the US dollar since the middle of April, as well as a decent rebound in the iron ore price.
Detailed research by the Reserve Bank shows that over the past 15 years, Australia, just like our buddies from across the Tasman, has a tendency to revise its GDP figures in an upwards direction.
<a href="https://3.bp.blogspot.com/-74gNS2tXxlc/UfVAtCM-46I/AAAAAAAAJ6E/tK3ve_g0HrU/s1600/GDP+revisions.jpg" imageanchor="1"><img style="display: block; margin-left: auto; margin-right: auto;" border="0" src="https://3.bp.blogspot.com/-74gNS2tXxlc/UfVAtCM-46I/AAAAAAAAJ6E/tK3ve_g0HrU/s320/GDP+revisions.jpg" width="320" height="273"></a> 
Source: RBA
While the biggest absolute revisions to GDP tend to be driven by the highly unpredictable inputs such as change in inventories (by its very nature an "extremely volatile series") and corporate profits (ditto), the RBA's research shows that drivers of revisions in the past have also included household consumption, dwelling investment, engineering and construction, and non-residential building.
The RBA has highlighted that its real time GDP prints can be subject to significant revisions and that early estimates of GDP tend to undershoot the 'final' results to some degree.
"Revisions to early estimates of GDP growth have tended to be sizeable and in an upwards direction, though these characteristics are not unusual by international standards."
Of course, some will continue to highlight every risk facing our economy and every negative angle they can possibly find until the day they drop off: it's their job; after all, gloom-peddling is a mini-industry in itself these days.
But keep any eye out for what happens over the next six weeks, especially now that we have seen building activity figures for previous periods revised upwards.
Could we end up with GDP for the financial year of closer to 3% than 2.5% when the National Accounts are released in early September?
There may yet be a surprise to the upside.
Pete Wargent holds a range of finance and property qualifications and is the author of <a href="https://petewargent.blogspot.com.au/" rel="nofollow" target="_blank">Get a Financial Grip – a simple plan for financial fr</a><a href="https://petewargent.blogspot.com.au/" rel="nofollow" target="_blank">eedom.</a>
 
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ABS building activity data revisions point to positive signs for the economy: Pete Wargent

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Capital city dwelling values have risen 3.5% over the past two months with RP Data-Rismark recording a further 1.6% rise in July on top of a 1.9% rise in June.
It follows a mid-year slip with a 1.7% decline recorded over April and May.
This takes the cumulative recovery in residential home values to 6.5% since the market bottomed out in May last year with a national median dwelling value now at $488,000.
Melbourne was the strongest performer among the big city markets with a 2.3% rise in dwelling values to $492,000 followed by Sydney (up 2% to $570,000) and Perth (up 1.6% to $494,600).
Adelaide’s property market continued to slowly decline with dwelling values falling 1.5% over July to $382,000 making it the weakest performing market over the quarter with a 3.1% fall.
Another weak market is Brisbane with almost no change in dwelling values over July (up 0.1%) and little change over the past year (up 0.8%) with a median of $429,000.
“Despite the strong headline, the market remains somewhat of a mixed bag,” says RP Data research director Tim Lawless.
“The housing market is being buoyed by very positive conditions in Sydney, Perth and to a lesser extent Melbourne.
“At the other end of the scale you have cities like Adelaide, Brisbane and more recently Darwin where conditions are more sedate with dwelling values slipping lower over the past quarter,” he says.
Perth is the best performing capital city for the July quarter (up 4.4%) and over the past year (up 8.3%).
Sydney dwelling values are up 4.4% for the quarter and 6.5% year-on-year with Melbourne up 4.3% year-on-year.
Perth is also delivering the strongest returns to investors with a total gross return - capital gains and gross rental yields – of 13.3% - followed by Sydney (11.2%) Canberra (9.1%) and Melbourne (8.2%).
“By including rental yields in our assessment of the housing market, some clarity is provided as to why investors are becoming so active,” says Lawless.
“The RP Data-Rismark Accumulation Index, which factors in both capital gains and gross rental yields, is up 9.4% over the past year.
“As noted by RBA Governor Glenn Stevens earlier this week, with an easing in monetary policy one of the expected and intended effects will be that people start to shift their portfolios away from the less risky assets such as cash and in the direction of holding equities and physical assets such as property,” he says.
Among the smaller capital city markets, Canberra recorded a 2.5% rise with its median dwelling value recorded at exactly $500,000 while Darwin recorded a 2% rise to $490,000.
Lawless notes that each of the vendor metrics published by RP Data-Rismark has continued to strengthen over the month.
“A typical capital city dwelling is selling in just 45 days compared with 59 days at the same time a year ago.
“Vendors are discounting their prices less and clearance rates remain close to 80% in Sydney and slightly lower in Melbourne.
“With the housing market once again showing solid capital gains and rents also rising, the issue of housing affordability is likely to begin attracting more attention.
“The recent housing market correction which bottomed in May 2012, where values were down 7.4% from peak to trough across the combined capital cities, together with mortgage rates moving to historically low levels, delivered substantial affordability improvements for Australian housing.
“However, with Sydney, Perth and Canberra values now back at record high levels and some other capital cities not far off their previous peaks, there are likely to be a growing number of households who find it challenging to enter the housing market,” he says.
The index is calculated using recent sales data combined with information about the attributes of individual properties such as the number of bedrooms and bathrooms, land area and geographical context of the dwelling.
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“Mixed bag” housing market gains momentum with 1.6% rise over July: RP Data-Rismark

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Small investors looking for a near double-digit annual return on $500,000 could consider a tenanted warehouse in Brisbane.
Recently, a large office/warehouse located in the Morningside Industrial Precinct in Brisbane’s east sold to a private investor for $520,000. 
The property, situated at 2A/65 Riverside Place, Morningside, was marketed exclusively by Alex Smith and Stephen Ferguson of Ray White Industrial Milton. 
The 302 square metre property is occupied by independent security and automation company Kobe Integrated Technology.
Kobe Integrated Technology has taken out a two year lease with a further two year option at a gross rental industry sources estimate to be around $46,810 per annum.
This translates into a gross yield of around 9%.
Stephen Ferguson said the facility attracted a number of potential investors because of its versatility and prime location and attractive yield. 
“The site allows for ease of access to and from the Gateway Motorway, which services the ever-growing south-east Queensland corner and links Brisbane with the Sunshine Coast and Gold Coast,” he said. 
“In regards to the Brisbane CBD, it is within 10km, while the Brisbane Airport and Port of Brisbane are also close by.”
 
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Brisbane warehouses offer 9% yields for $500,000 investment

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What happens when on the day you move in your new home, the happy experience sours when you discover that the rose bush from the front yard has been removed, the mirror in the bathroom is gone and the dishwasher has been taken from the kitchen?
These things were there when you inspected the property and you assumed they would be staying with the house as part of your purchase. So, where do you stand legally in this situation?
Thankfully, the law is on your side but it comes down to proper process.
It’s about making sure the responsibilities of the seller have been met and that all the paperwork has been done thoroughly at the time of signing the contract to purchase.
The seller has an obligation to advise the real estate agent if anything is excluded from the sale. This should be reflected in the contract.
Usually, anything deemed to be a fixture will stay. This generally includes things that are nailed, screwed or otherwise fixed such as mirrors, floor coverings, curtains, towel racks, television aerials, light fittings and ceiling fans. But it also includes things like plants, paving slabs and garden sheds.
REIWA recommends that sellers fill out a disclosure statement when they offer a place for sale and the Institute provides these forms to agents. They are not compulsory under WA law, but they do give the agent a written record of exactly what is being sold and what, if anything, is being removed by the previous owner.
Owners have the right to exclude some things from a sale if they choose, but it’s important that this is made clear from the beginning of the process.
In the standard REIWA contract for the Sale of Land, it is a condition that the seller warrants “the property will be in the same state and condition it was in immediately before the contract date.”
If a seller wants to keep the dishwasher or a sentimental rose bush for example, that’s permissible so long as it is properly declared to any potential purchasers.
Buyers should always ask if anything is being excluded in a sale and provided the selling agent has been correctly advised by the owner there will be no misunderstanding and everyone should be happy.
Often if things are removed after a sale it’s due to ignorance of the law by the outgoing owner and can usually be quickly remedied by the agent.
However, if you find this isn’t the case, that both you and the agent were not properly advised and the seller is being difficult, then you can take the matter to the Local Court to seek compensation for missing items.

<hr>
David Airey is president of the <a target="_blank" rel="nofollow" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a>This article was originally published on <a target="_blank" rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
 
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At what point can a seller remove fixtures from a property? David Airey

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The dominance of property investors over owner-occupiers has been confirmed in the latest RBA credit data for June.
It shows there was a 0.6% rise in credit provided for investor housing in June, double the 0.3% rise in credit provided for owner-occupiers.
For the 12 months ending June 2013, credit provided for investors has risen 5.7% - the highest annual growth rate since July 2011 (when annualised growth was 5.9%),
Annualised growth in loans to owner occupiers remains lacklustre at just 4.1%
Overall, housing credit provided by lenders rose 0.4% over June to be up 4.6% over the past 12 months.
Other personal credit increased by 0.2% over June after decreasing by 0.1% over May to be up 0.2% over the past 12 months.
Business credit rose by 0.5% over June after increasing by 0.2% over May. Over the year to June, business credit rose by 0.9%.
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Home lending to investors surges to highest growth rate in two years in June: RBA

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The cash rate will fall to a low of 2.25% before the end of the year says NAB chief economist Alan Oster.
NAB is forecasting two rate cuts - one in August and now an additional one possibly in November if not sooner -  following a more "sober and realistic" outlook from RBA governor Glenn Stevens.
All the major banks expect a rate cut next week with <a target="_blank" href="/news">ANZ changing its forecast from November to August.</a>
"Until yesterday the RBA had been expressing optimism about other drivers of growth picking up," says Oster.
"Yesterday Glenn Stevens provided a much more sober and realistic outlook, suggesting that the economy cannot rely on housing and consumption to plug the growth hole.  This is in line with our forecasts and suggests that having recognised the reality of lower growth with benign inflation more rate cuts are likely. 

"We had already been forecasting a 25 basis points rate cut in August to 2.5% and with the governor giving the green light for lower interest rates this now looks a sure thing.  
"We now also expect an additional 25 basis point cut to 2.25% before year end – most likely in November after the third quarter CPI although it could be earlier.  
"Beyond this, we expect the Australian economy will continue to grow below trend, income growth to be weak, and the unemployment rate to rise to and possibly above 6.25%.  
"So the RBA will retain a bias to ease well into 2014 and a cash rate below 2¼% remains a real possibility."
<a href="https://homeloans.propertyobserver.com.au/home-loans/?utm_source=Property+Observer+List&amp;utm_campaign=76e226e607-June_21_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-76e226e607-245347537" target="_blank"><img src="/images/stories/2013/08/homeloancomparison.jpg" width="399" height="110" alt="homeloancomparison"></a>
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NAB tips two RBA cash rate cuts in August and November

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Yesterday, RBA governor Glenn Stevens said he did not expect non-financial assets values- mainly dwellings - to rise by more than 7% per year over the next few years.
Trend growth for non-financial assets has been around 7.1% up until the GFC, but has since dipped as values have fallen.
A reader also pointed out that 7% per annum growth is required for asset values to double every 10 years.
{module Do you agree with Glenn Stevens that dwelling values won't rise by more than 7% per annum over the next few years?}
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Will dwelling values rise by more than 7% over the next few years?

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Car culture isn't dead yet, but many big-city US neighbourhoods - even outside New York - are looking at increased transportation by foot.
By designing compact, urban layouts with tighter street grids, some areas are purposely encouraging residents to stay in the 'hood for their work, purchases, dining, imbibing, fun, relaxation and sleeping.
 
<a href="https://twitter.com/Real_EstateCom" target="_blank"><img src="/images/stories/2013/08/tweet-of-the-day-aug-1.gif" width="470" height="78" alt="tweet-of-the-day-aug-1"></a>
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