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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Headline inflation increased by 0.4% in the June quarter, in line or just below economists’ forecasts to be up 2.4% through the year.
The modest increase leaves room for the RBA to cut the cash rate on August 6 should it deem it necessary.
The most significant price rises in the June quarter 2013 were for medical and hospital services (+3.4%), tobacco (+3.0%), new dwelling purchase by owner–occupiers (0.9%), furniture (+4.8%) and rents (+1.1%).The most significant offsetting price falls were for domestic holiday travel and accommodation (–4.0%) and automotive fuel (–3.1%).
The June rise follows the Consumer Price Index (CPI) rising 0.4% in the March quarter 2013, compared with a rise of 0.2% in the December quarter 2012.
ANZ had forecast headline CPI to be 0.4% quarter-on-quarter and up 2.4% on an annual basis.
NAB’s forecast was for a “soft result” of a 0.5% increase (2.5% through the year) largely reflecting seasonal weakness in a number of the CPI components, including housing, education and medical costs.
While the headline rate will act as a guide, economists and the RBA will look more closely at underlying inflation rate – computed differently by economists - which excludes components of CPI whose prices are directly influenced by highly volatile, seasonal or policy factors.
Economist Stephen Koukoulas computes underlying inflation at 2.4% through the year - well within the RBA's target band of 2% to 3%.
The Commonwealth Bank has underlying inflation up 2.5% through the year - up 0.5% for the quarter.
NAB forecast underlying inflation in the June quarter to be 0.6% (2.4% through the year), “a little stronger than the March quarter outcome but still well within the RBA’s comfort zone”.
“For the RBA, an outcome of 0.6% for underlying inflation would probably not stop the Board from easing in August, but any higher might cause them to wait.  On balance, we still expect an August rate cut,” said NAB chief economist Alan Oster.
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Inflation up a low 0.4% in June quarter leaving scope for RBA to cut rates on August 6

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Sydney’s Wolli Creek and Melbourne’s Parkville were among strong off-the-plan sellers as listed property group, Australand forecast an improved residential performance in second half of 2013.
Australand half-year after-tax profits dipped 1% to $88.4 million for the six months to June 30 due to a lower contribution from its residential division.
Revenue from its residential business fell from $260 million to $192 million as lot sales fell from 489 to 409.
The share price fell 3 cents to $3.47 following the drop in earnings having fallen 11 cents yesterday following the decision by its majority shareholder CapitaLand not to sell its stake after failing to secure an acceptable offer.
“As flagged to the market in February, the lower first half operating profit result was driven by a lower contribution from the residential division given the expected completion of a number of built form projects in the second half,” said Australand managing director Bob Johnston.
“The group, however, expects to deliver growth in operation earnings for the full year of 3% to 4% with a stronger performance expected during the second half of 2013 supported by secured residential sales and the industrial developments currently underway,” he said.
Residential sales contracts on hand increased from 1,316 to 1,793 driven by a strong pick-up across some of its Sydney projects and also a solid performance across its Victorian apartment and house and land developments.
More than half of these contracts (51%) are expected to settle in the second half of 2013 and a third in 2014.
In NSW, contracts on hand increased from 543 as of December 2012 to 905 as of June 2013
The top seller over the six months period was its Discovery Point development at Wolli Creek in Sydney’s inner south, which recorded 179 off-the-plan apartment sales.
One bedroom apartments start from $410,000 with two-bedroom apartments priced from two-bedroom apartments priced from $555,000.
NSW accounted for 22% of Australand's residential business with strong pre-sales over the half-year attributed to products being priced around the median price point.
Australand is heavily exposed to the Victorian residential development sector with 58% of its projects located in the state.
It recorded a rise in contracts on hand in Victoria from 346  in December 2012 to 508 as of June 2013 with improved land sales activity following the re-introduction of first-home buyer incentives for new homes as well as the enhanced National Rental Affordability Scheme (NRAS) expected to assist in the recovery.
Sales were steady in apartment developments with its Lume Carlton project managing 72 sales and 32 sales recorded at Parkville.
Carlton sales total 117 with contracts on hand worth $65 million.
In total 58 contracts worth $29 million have been secured at Parkville, a joint venture with Citta Property, with one bedroom apartments priced from $370,000.
Australand also reported improved trading conditions in Brisbane as affordability and interstate migration levels recover, however the Gold Coast and Sunshine Coast discretionary markets remain “challenging”.
Activity levels improved in WA with rising rents driving tenants to become owner occupiers.
There were 68 lands sales at Byford and stage two of  Cockburn Central project at Kingston is now 95% pre-sold.
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Sydney’s Wolli Creek and Melbourne’s Parkville among strong performers as Australand forecasts improved residential performance in second half of 2013

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More than a quarter (28%) of distressed commercial properties listings over the June quarter were residential development sites, according to the latest LandMark White Forced Sales Monitor.
The next highest proportion were industrial properties (19%) followed by leisure (13%) – hotels, resorts and other accommodation providers.
The monitor tracks the proportion of commercial properties listed for sale by mortgagees, receivers or liquidators on the Eastern seaboard.
The report notes that majority of listed receivers’ stocks was found in regional rather than metropolitan areas, with the regional share at 64% in the June quarter. Over the year to date, the split was 75% regional to 25% metropolitan areas
The high proportion of forced sales of residential development sites - many in regional areas - comes at the same time as a rising numbers of small debenture investors are caught out by non-bank lenders that have on-lent their funds as mortgages over risky residential development projects.
<img src="/images/stories/2013/larry_uploads/LMW_forced_sales.jpg" width="470" height="308" alt="LMW_forced_sales">
The most recent to run into trouble was <a href="/news">Victorian-based Gippsland Secured investments (GSI), where $154 million of funds have been frozen.</a>
Other non-bank collapses – LM Investment Management, Provident Capital, Banksia and Wickham Securities – all provided funding to residential development projects, often as lender of last resort charging very high interest rates.
Overall the proportion of properties listed as distressed sales was unchanged at 23% over the June quarter - below expectations of a pick-up in distressed listings - with Queensland accounting for more than half of these (57%) followed by NSW (26%) and Victoria (7%).
Ross Horsley, research manager at LandMark White notes that it was the fifth time in seven quarters that more than half of all distressed listings were in Queensland.
The New South Wales share of distressed listings increased from 9% in the March quarter to 26% in the June quarter taking its annual share to 19%.
The Victorian share of receiver sales listings dropped to 7% in the June quarter, from 15% in the March quarter.
“The garden state recorded its lowest number in the series so far, with only seven commercial properties being advertised on behalf of receivers,” says Horsley.
He points out while an expected rise in distressed listing did not eventuate and is a positive sign for the commercial property market, “the fact that there was a relatively small number of properties advertised at all meant that the distressed share of the market remained close to one in four, at 23%”.
“With this drop in both distressed and ‘normal’ volumes, the latest results are open to interpretation.
“A positive view is that the lower number of distressed listings means that the mortgagees and receivers have worked through their stock and there should be fewer forced sales going forward. And, the reason there were fewer total listings is because owners are under less pressure thanks to the low interest rates, so they can wait for an improved market to sell. With less available stock and a lower proportion of distressed stock, the market will finally have a chance to strengthen.
“However, the opposite view is that the drop in total listings is a sign that the commercial property market is stalling from a very slow pace, and, the reason the distressed numbers are also falling is not because of a lack of stock, but because receivers and mortgagees are releasing only as much as they feel the market can absorb.
“On the evidence of the Forced Sales Monitor, that saturation level appears to be around 25%, and with this constant level of distressed stock and only those owners under pressure to sell doing so, the market will soften further,” he says.
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Residential development sites remain riskiest investments with one in four “distressed”: LMW monitor

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The Cypress Lakes country club resort in the Hunter Valley has been bought by a Thai hotel group for $10 million.
In a widely tipped sale, Minor International acquired the resort and management rights to 125 strata-titled villas through its Australian entity Oaks Hotels and Resorts from Singapore-based Lasseters International.
The purchase also includes approvals for a 120-room hotel and two development sites. However, it does not include the 18-hole championship golf course or club house.
The resort, plus adjoining land with up to 232 villas, was valued several years ago at about $150 million, with the villas worth about $100 million.
In 2001, Fairfax reported that Cypress Lakes sold and leased back the land and villas but retained ownership and management of the golf course and club house, the resort centre and some nearby land for development.
The resort is in the same location - Pokolbin -  as the <a href="https://www.propertyobserver.com.au/rural/len-evans-founded-tower-estate-winery-portfolio-listed-and-may-tempt-asian-buyers/2013071563299" target="_blank">Tower Estate Winery portfolio</a> founded by celebrated wine-maker Len Evans and majority owned by former News Corporation chief executive and chairman Ken Cowley which was recently listed for sale.
Lasseters had hoped to offload the Cypress Lakes resort and a chain of Golden Door health retreats in NSW and Queensland for up to $30 million, but Minor International only had eyes for the resort and a 100 hectare site that could attract further development.
About two hours from Sydney, Cypress Lakes resort has a sport, leisure and wine tasting focus with the golf course, three food and beverage outlets, extensive conference facilities across four venues as well as horse riding and tennis facilities. The cellar door is leased to Brokenwood and the strata titled villas are branded as Grand Mercure Apartments.
Jones Lang LaSalle Hotels Group’s Mark Durran and Peter Harper negotiated the sale. ‘’The purchase price hit the mark on price expectations,’’ Harper says.
‘’We are now trying to sell the golf course to other groups.’’
The resort – established in 1996 - had reportedly not been performing well, with the strong Aussie dollar and poor consumer confidence in the economy affecting its revenues. Despite this, several groups were keen suitors, with Chinese and local groups prominent.
It’s reported that Lasseters accepted a $500,000 loss on the deal but are happy to dispose of the loss-making asset.
Things are ramping up for Minor International, which has flagged its intentions to buy in Australian mining towns. Other purchases include the Oasis Resort at Caloundra, Queensland, the Hotel M in Townsville, which it bought two years ago for $18 million, and the management of Sydney’s Regis serviced apartment tower.
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Cypress Lakes golf and country club in the Hunter Valley sold to Thai hotel group for $10 million

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A roof garden, a boutique hotel and retail destination, a vaulted ceiling flowing into a plaza and amphitheatre with a new art gallery, a pattern of bridges and underpasses, a glass lattice roof and multi-level urban park are all key components of the six shortlisted design concepts for the redevelopment of Flinders Street Station in the heart of Melbourne.
The schemes are as diverse as they are grand incorporating heritage elements of the 1909-built station with new functions.
The <a target="_blank" href="https://vote.majorprojects.vic.gov.au/">public has been asked to vote</a> on the six design concepts and, while the results of the public vote will not determine the final design plans, public views will be taken into account when a final scheme is decided upon by the Victorian government.
Designs are to be rated on their overall design merit, transport function, cultural heritage and iconic status and urban design and precinct integration.
The six shortlisted architectural and design practices are (click on links to see each proposal):
<ul>
<li>
<a target="_blank" href="https://vote.majorprojects.vic.gov.au/entrant/ashton-raggatt-mcdougall">Ashton Raggatt McDougall </a> - Melbourne (roof garden concept)</li>
</ul>
 {yoogallery src=[images/stories/2013/07/july24flinders1]} <ul></ul>
<ul>
<li>
<a href="https://vote.majorprojects.vic.gov.au/entrant/zaha-hadid-architecture-bvn-architecture">Zaha Hadid Architecture &amp; BVN Architecture</a> – UK and Melbourne (boutique hotel, office and retail )</li>
</ul>
 {yoogallery src=[images/stories/2013/07/july24flinders2]} <ul>
<li>
<a href="https://vote.majorprojects.vic.gov.au/entrant/hassell-herzog-de-meuron">Hassell + Herzog  &amp; De Meuron</a> – Melbourne and Switzerland (vaulted ceiling flowing into a plaza and amphitheatre) 
</li>
</ul>
{yoogallery src=[images/stories/2013/07/july24flinders3]}
 
 
<hr class="system-pagebreak">
 
<ul></ul>
<ul>
<li>
<a href="https://vote.majorprojects.vic.gov.au/entrant/john-wardle-architects-grimshaw">John Wardle Architects + Grimshaw</a> – Melbourne and UK (pattern of bridges and underpasses) 
</li>
</ul>
{yoogallery src=[images/stories/2013/07/july24flinders4]} <ul></ul>
<ul>
<li>
<a href="https://vote.majorprojects.vic.gov.au/entrant/nh-architecture">NH Architecture</a> - Melbourne (glass lattice roof) 
</li>
</ul>
{yoogallery src=[images/stories/2013/07/july24flinders5]} <ul></ul>
<ul>
<li>
<a href="https://vote.majorprojects.vic.gov.au/entrant/eduardo-velasquez-manuel-pineda-santiago-medina">Eduardo Velasquez + Manuel Pineda + Santiago Medina </a> - Colombia via University of Melbourne (multi-level urban park) 
</li>
</ul>
{yoogallery src=[images/stories/2013/07/july24flinders6]} <ul></ul>
Voting is open until August 5 with a Jury winner and the People’s Choice Award to be announced on August 8.
Plans to develop Flinders Street Station – much of which lies decaying and unused – was initiated by the Victorian state government in November 2011 with the launch of a $1 million international design competition to rejuvenate and restore the Melbourne icon.
Hassell lead designer Mark Loughnan said the central idea behind its proposal was to transform Flinders Street station into a place that you "hurry through into a destination and one you visit".
“We propose restoring the station buildings to their original glory and transform Flinders Street into a modern transport hub - an intermodal hub for trains, buses, water taxis and possible metro,” he tells Property Observer.
The proposal also seeks to connect the Flinders Station precinct with the city, further, bringing in new arts and cultural facilities with plans for a major new art gallery, a public plaza and amphitheatre, all overlooking the Yarra River.
The Hassell + Herzog  &amp; De Meuron design incorporates weather-proof vaulted rooves to “flood the platforms with dappled, natural light and ventilation” and take inspiration from the original 1899 scheme for the station.
“We studied the original scheme from 1899 to understand its intentions," says Loughnan.
“The vaults are a clear theme.
“We wanted to be contextual and respect the heritage of the station. The train tracks are part of the DNA as is the existing fabric of canopies,” he says.
Terry Ryder will be <a target="_blank" href="/news">discussing the Melbourne property market in detail at the Property Observer webinar</a> on 31 July.
 
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Melburnians asked to vote on six grand proposals for Flinders St Station

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Second-quarter figures released by Jones Lang LaSalle show the average retail vacancy rate for the Australian market rose to 4% in the first half of 2013, from 3.5% in December 2012. 
The average retail vacancy rate in the first half was largely driven by a notable rise in the national CBD retail category, which rose to 6.7% in June 2013 from 5.4% in December 2012.
In contrast, and as this graph shows, there have been only minor increases in average vacancy rates recorded across the sub-regional and neighbourhood centre categories:<img src="/images/stories/2013/larry_uploads/jll_retail_vacancy_rates.jpg" width="470" height="303" alt="jll_retail_vacancy_rates" style="font-size: 0.8em;">
"The latest research indicates that even though many retailers have been strengthening their businesses over the past 18 months, the leasing market is still challenging and it is quite competitive to attract new tenants," says Jones Lang LaSalle’s head of retail, Tony Doherty. 
“While vacancy rates have remained elevated leasing activity is rising, reflecting the higher rate of tenant turnover that is currently occurring as landlords go through the slow process of optimising their tenant mix at a time when demand is less than strong.”
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CBD retail vacancy rates rising: Chart of the week

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Profits at Macquarie group are set to rise in 2014 as its financial services arm, Macquarie Bank, continues to expand its mortgage footprint via mortgage lending, wholesale funding and mortgage broker distribution deals.
Macquarie chief executive Nicholas Moore signalled a rise in profits in May with the group's AGM, set to take place on Thursday -  last year Macquarie reported a 17% rise in net profit to $851 million for the year ended March 31.
At its 2013 full-year result announcement in early May, Moore said that "profit for the 2014 financial year was expected to be an improvement on 2013 provided market conditions were not worse than those experienced during 2012 - 13."
More recently analysts at Deutsche Bank say the investment bank is significantly undervalued by the market and are forecasting the Macquarie share price to rise as much as 30% over the next year and a half.
The share price has risen from around $36 in mid-April to currently at $46.33 with Macquarie's mortgage expansion a key component of its growth strategy.
The latest APRA monthly banking figures show that Macquarie Bank has grown its owner occupier home loan book by 22.4% in the space of three months from $3.96 billion in February to $4.85 billion in May and more than doubled it in the past 12 months - in May 2012, the loan book was worth $2.2 billion.
This ranks Macquarie as the 11th biggest mortgage lender to owner-occupiers, though it has some way yet to go if it is to become the so-called 'fifth-pillar' in banking behind the four major banks - a position long occupied by ING Bank, which has a $27.59 billion owner-occupier mortgage book.
Macquarie's investor home loan book is also surging, having risen 21% over the past three months from $1.77 billion to $2.14 billion.
Alongside its growing home loan book, Macquarie is branching into new areas of mortgage finance funding while cementing relationships with niche home loan players.
Last month BRW Magazine reported that Macquarie Bank would provide warehouse funding to assist specialist lender Bluestone's re-emergence after a GFC-induced five-year break from mortgage origination.
Macquarie Bank acquired a 17.5% stake in Bluestone in November 2010.
Under the stewardship of chairman Alistair Jeffrey, Bluestone was one of the biggest providers of non-conforming loans (mortgages to borrowers with credit-impaired borrowing histories), but was forced to stop originating new home loans in the wake of the sub-prime mortgage crisis.
Bluestone will now offers its mortgages through AFG’s network of 1,800 mortgage brokers, of which Macquarie is a shareholder.
The provision of funding for Bluestone followed soon after Macquarie Group and Macquarie Bank raised their holding in Mark Bouris’s wealth management and home loans franchise business Yellow Brick Road from 8.3% to 10.5%, this after Macquarie Bank tied up a wholesale funding and mortgage distribution arrangement with the fast expanding franchise business in November last year.
In April, Macquarie Group and Macquarie Bank acquired a 19.8% stake in listed non-bank lender Homeloans Limited - a further potential distribution arm and funding tie-up for its home loans.
Prior to the onset of the GFC, Macquarie provided securitised mortgages to Bluestone and Aussie Home Loans, before pulling back due to the virtual freezing of the residential mortgage backed-securities (RMBS) market.
In early 2010, Macquarie Bank signalled its return to the mortgage game with the creation of Vow Financial, a mortgage aggregation business comprising a number of mortgage broker groups, through which it can distribute its mortgage offerings.
Macquarie has a minority (less than 20%) stake in Vow, which represents around 600 brokers across Australia and has loans under management of about $16.5 billion.
In January this year, Business Spectator columnist Robert Gottliebsen wrote of mortgage and deposit war erupting on the back of Yellow Brick Road accessing cheap funding from Macquarie Bank.  
Macquarie has made no secret of its plans to grow its mortgage lending arm.
As part of its annual operational briefing in February, Macquarie Group CEO Nicholas Moore noted the group’s expanding mortgage portfolio and that “originations are expected to continue to grow significantly in the 2013 calendar year”.
Mortgage Choice chief executive Michael Russell told BRW magazine that Macquarie Bank clearly has an “insatiable desire for a much bigger market share in home loans”.
The APRA figures also show that Macquarie Bank has a $4.65 billion secured housing loan book and total resident assets of $59 billion.
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Macquarie profits forecast to rise in 2014 financial year as home loans business grows 22.4% in three months

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The tax commissioner has “significantly tightened” his administration of claims for negative-gearing deductions, warns Paul Banister of Grant Thornton, writing in the Australian Financial Planning Handbook 2012-13, published by Thomson Reuters.
Banister urges investors to take extreme care when claiming negative-gearing deductions.
Make sure you have the evidence to support your claims, he says.
As <a href="https://www.propertyobserver.com.au/tax/tick-off-checklist-for-immediate-deductions/2013062462261" target="_blank">previoulsy discussed</a>, a property is negative geared when there is a shortfall between the rental income and the deductible expenses (including loan interest).
The shortfall is deductible against your other income.
See our free ebook on the <a href="http://propertyobserver.com.au/ebooks/free-ebook-top-24-tax-strategies" target="_blank">top 24 tax strategies</a> for property investors.
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Take extreme care when claiming negative-gearing deductions

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The first images of a new Sydney development by Crown Group have been unveiled, with designs by Koichi Takada Architects.
The residential development will feature a 24-level modern glass-and-steel tower with a curved steel roof structure. 
It will also include heritage inspired archways on lower levels and a through-site pedestrian walkway between Clarence and Kent Streets.
Koichi Takada Architects were selected as the winners of the design competition for the building located at 161-165 Clarence Street.
Crown Group chief executive Iwan Suito says Koichi Takada Architect’s design would utilise the entire site to its full potential.
“Koichi Takada Architects have competed against a field of world-class architecture firms to win this competition,” says Sunito.
“Koichi Takada Architect’s striking design is an exceptional use of space, bravely combining functionality with architectural flair and creativity to a standard befitting this first-class location in the heart of Sydney’s CBD.
“This building will be unlike any other in Sydney,” says Sunito.
The development will have a rear façade on Kent Street and will be accessible to pedestrians via Clarence, Kent and King Streets.
It will include 200 studio, one-, two- and three-bedroom apartments with retail, commercial and a restaurant precinct on the ground floor.
“Inspired by the characteristic arches and masonry of Sydney’s significant heritage, a duality is introduced to the façade, represented by the varied aesthetics of the podium and modern and elegant tower,” says Koichi Takada, founder of Koichi Takada Architects.
“The through-site link adds public benefit and is designed to enrich and regenerate public amenity in this area of the CBD.
“The sculptural tower element floats above the podium, shaping the skyline with a gentle and organic form,” says Takada.
<img alt="crownjuly24one" height="517" width="470" src="/images/stories/2013/07/crownjuly24one.jpg">
Crown Group purchased the 936-square-metre site last year for $29,977,292 million.
Construction is expected to commence in mid-2014.
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Koichi Takada designs new Sydney CBD development by Crown Group

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So, what is better training to buy a home - business management training where you learn about budgets and goals and organisational structure, or crisis management where you have to deal with threat management, stress and fatigue and on-the-spot decision making?
There’s no doubt that you need to bring a knowledge of budgets and cash-flow and goal-setting to the home-buying process.
They are the skills that help offset the emotion that can often cloud that process.
But once you’ve laid a solid plan, and once you’ve found a home that fits your well-thought-through goals and it’s time to negotiate to buy that home – that’s when crisis management comes into play.
It may seem strange to describe buying a home as a crisis, but it is a situation full of uncertainty and unexpected threats.
As a homebuyer you’re in a position of little knowledge or power and you can often lack the ability to read the signals being put out by people who are experts in their field.  If you get it wrong, it can be potentially disastrous – you can end up with the wrong home (or no home) or end up paying too much for a home.
It’s how you deal with uncertainty that makes all the difference when you’re buying a home. If you’re used to having everything sorted out and tabulated and double-checked, then dealing with the unknowns associated with negotiating on a home can feel pretty unnerving.
We think negotiating on a home is a bit like being an airline pilot or a firefighter – you have to anticipate the worst, while staying calm, and be constantly on the lookout for information and signals that will tell you what to do next.
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="308" style="text-align: center;">
Business Management Concepts
</td>
<td valign="top" width="308" style="text-align: center;">
Crisis Management Concepts
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Budgets
</td>
<td valign="top" width="308" style="text-align: center;">
Understanding Human Error
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Goals
</td>
<td valign="top" width="308" style="text-align: center;">
Situation Awareness
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Organisational Structure
</td>
<td valign="top" width="308" style="text-align: center;">
Error Chain
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Synergize
</td>
<td valign="top" width="308" style="text-align: center;">
Threat and Error Management
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
HR
</td>
<td valign="top" width="308" style="text-align: center;">
Pilot, Co-Pilot and Crew Concept
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Technology and IT
</td>
<td valign="top" width="308" style="text-align: center;">
Checklisting
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Marketing
</td>
<td valign="top" width="308" style="text-align: center;">
Understanding Cultural Differences
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Win-Win
</td>
<td valign="top" width="308" style="text-align: center;">
Communications
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Training
</td>
<td valign="top" width="308" style="text-align: center;">
Stress and Fatigue
</td>
</tr>
<tr>
<td valign="top" width="308" style="text-align: center;">
Sales
</td>
<td valign="top" width="308" style="text-align: center;">
Decision Making
</td>
</tr>
</tbody></table>
 
<hr class="system-pagebreak">
Here are some of the aspects of crisis management that apply equally to negotiating on a home:
Situation awareness - You need to know who to deal with in the negotiating process and who your competitors are, and you need to focus on your goal without being distracted by trivial issues.
At James, we always have two advocates negotiating, one to oversee the negotiation, and another to attend to all the nuts and bolts of the negotiation. That gives us the overview of the situation that means we can focus on the process.
Here are some examples of a lack of situation awareness:
<ul>
<li>
Negotiating with one agent when somebody else buys through another agent
</li>
<li>
Focussing only on hiding your identity from the agent so he doesn’t know you will bid at auction only to see it sold beforehand without you being contacted
</li>
<li>
Talking to agents on many matters e.g. what homes you last visited and liked – that will give a clear guide to your capacity to pay for this current home.
</li>
<li>
Negotiating hard and getting the price going down but forgetting about another buyer who comes in from the side and takes the prize
</li>
<li>
Finding a minor problem (like some minor water damage) in the dream home and turning it into a major issue and not buying. Another version is reading a building inspection report as negative when its actually positive when compared to others.
</li>
<li>
Listening to a lawyer talk about a very negative clause and changing your mind on buying only to find that lawyer includes that clause in all their contracts as well, and sees it as no big deal.
</li>
<li>
Extreme cases, but it happens more often than many sellers think – buyers refusing to buy a home because they “hate” the agent –forgetting they are not living with the agent after they purchase.
</li>
</ul>
Understanding human error – Nobody gets it exactly right always – not even us! The point is to recognise that this can and does happen (on all sides) and when an error is recognised that you have a plan to rebound from that to your advantage.
Dealing with the error chain – In plane crashes it is rare that one thing causes a crash, it is more often a chain of events. It’s the same when it comes to homebuying disasters.
Here are a couple of examples:
<ul>
<li>
Under spousal pressure – under work pressure – under agent pressure – no time to make the right decisions. You pay too much – and the result is an unhappy family
</li>
<li>
You have no plan – no advice – no process – no due diligence – no checks or validation. You end up with the wrong home – and the result is an unhappy family
</li>
</ul>
Make sure you don’t get caught up in a chain or errors that lead to a disastrous outcome. Our job can simply be to break the chain before the results become catastrophic.
Threat and error management - Good knowledge, good systems or processes, good training, good advice and good management break the Chain of Errors – which is what you need to do.
Some key threats in good home buying:
<ol>
<li>
You
</li>
<li>
Other Buyers
</li>
<li>
The Selling Agent
</li>
<li>
Your Buying Agent
</li>
<li>
Market Movement
</li>
<li>
The Seller
</li>
<li>
The Targeted Home
</li>
</ol>
One solution is to manage “exact valuation errors” (where you miss on something you should have bought for a few dollars more) we developed the control price system or range of values which replaced the outdated  “one price valuation with one willing buyer and one willing seller” concept.
Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank" rel="nofollow"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.  This article was orignally published on Property Observer on June 27, 2013.
 
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