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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Our economics teacher at school once said to us: “Don’t be surprised if there’s a recession when you leave school.” He was a cantankerous old sod, and we just thought he was being antagonistic.
Unfortunately, he then died, so the poor chap didn’t stick around long enough to know whether his warning would come true.
What I now understand is that he was actually being realistic, rather than antagonistic. Recessions tend to come around surprisingly regularly in developed world economies, and perhaps the most surprising thing of all is…that we are still surprised when they arrive!
As it turned out, the US did fall into recession briefly in 1990-1, for after a period of high inflation and credit-driven expansion, the Fed jacked up interest rates, which capped growth.
In 1990, there was an oil price shock, which, after the lending boom of the 1980s combined with a fall in consumer confidence, ended in a sharp fall in growth and a recession.
Fortunately it was a short-lived affair and growth returned thereafter.
Recessions aren’t unusual
As <a href="https://www.fool.com.au/%E2%80%8E" target="_blank">Motley Fool </a>once wisely said:
“There will be seven to ten recessions over the next 50 years. Don’t act surprised when they come.”
Australia hasn’t had a recession now, for more than two decades. Famously, in November 1990, Paul Keating said:
“The [national] accounts do show that Australia is in a recession. The most important thing about that is that this is a recession that Australia had to have “
It’s one of the most famous quotes in Australian economics, and implies that sometimes economies actually need to have a recession to clean up the excesses of the past.
Of course, in an ideal world developed economies would continue with moderate growth in perpetuity, but it’s not what seems to happen in practice.
Often economic growth surges ahead at an irrational pace before reversing painfully.
  
<hr class="system-pagebreak">
The next Australian recession?
Will we be headed for recession in the near future?
Personally, I believe the answer is ‘probably not’, but economic growth will very likely slide as the investment phase of the mining boom seems to have passed its peak.
Despite the slowing economy to date, unemployment remains low at around 5.5% and GDP growth remains positive at 2.6%, although as noted this may well fall.
The Reserve Bank forecasts that its stimulatory monetary policy (record low interest rates) will see GDP growth continuing through 2013 and 2014, and a return to 2.5% to 4% GDP growth through 2015, which would be a tremendous result if it actually eventuates.
Of course, there is a chance of recession. It nearly always pays to be wary when a commentator says with absolute cast-iron certainty that “this will happen” or “such-and-such will eventuate.” The future is inherently uncertain and cannot be seen with such clarity.
If China suffers a major reversal and commodity prices fade, then Australia will be materially impacted, no question.
And of course, others will simply continue to predict a recession forever into the future. There’s nothing unusual in that either; people are always predicting doom and gloom, and – given that we haven’t had a recession for more than 20 years – one day they will again be right (and that’s one thing I can predict with certainty!).
 
<hr class="system-pagebreak">
What would a recession mean for investors?
For share investors, if Australia sinks into recession share price valuations will naturally likely recede into single digit PE ratios.
So you either need to have an investment plan which sees you selling your holdings before valuations fall that low again (timing the market), or you need to be employing a strategy which allows you to pick up more holdings when prices are once again low and shares are ‘on sale’.
One unfortunate consequence of Australia not having had a recession for more than two decades is complacency with regards to property market commentary. Some commentators continue to talk about persisting very high levels of growth, but very high growth cannot continue forever, and if a genuine bubble forms then it is likely that it would eventually burst.
Australia has avoided for recession for so long commentators often have little or no context for considering what happens to property markets in a genuine recession.
When Australia does again see recessionary times, you absolutely do not want to be holding properties which are in low demand, which often includes remote outer or fringe suburbs, and many regional centres.
Such areas can perform reasonably enough when the market is on the up, for a “rising tide lifts all boats”, but one reason that prices remain cheap is that when recessions do come along to clean up the excesses of the past, owners of illiquid property in low demand can experience a drawn out and devastatingly painful slow-motion deflation in prices.
Trust me, I’ve seen it happen to plenty of people before: I’m British.
Pete Wargent holds a range of finance and property qualifications and is the author of <a href="https://petewargent.blogspot.com.au/" target="_blank" rel="nofollow">Get a Financial Grip – a simple plan for financial fr</a><a href="https://petewargent.blogspot.com.au/" target="_blank" rel="nofollow">eedom.</a>
 
 
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The most surprising thing about a recession is that we are still surprised when they arrive: Pete Wargent

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The latest boutique development in Sydney's inner west, Motif, is over 50% sold.
The residences in the 28 apartment block have a high level of design and finishes which has attracted buyers, said agent Steven Chen at McGrath.
 
 

"The benefit of Motif is the boutiqueness," says Chen.
 
 
"They want to be in a smaller complex with not as many neighbours...Coupled with the outstanding location and the boutique nature of the block will ensure strong returns and good capital growth."

 
The majority of purchases so far have been to owner-occupiers.

 
 

Chen says the quality of the 17 Erskineville Road residences is reflective in their price.

A top floor two-bedroom apartment in the same suburb at <a target="_blank" href="https://www.belleproperty.com/selling/NSW/Inner-West/Newtown/Apartment/7P0720-89-3-13-erskineville-road-newtown-nsw-2042">89/3-13 Erskineville Road Newtown</a> sold for $620,000 in April.

The two-level apartment is currently leased for $650 per week and belongs to the Presidio development built in 2001.
The median sale price of a <a href="/news">Newtown</a> unit is $468,000, up 10.1% on last year, according to RP Data.
The median asking rent in the suburb is $420 per week and the indicative gross rental yield is 4.7%.
Motif is designed by SJB Architects, an Australian practice that has recently delivered Casba Apartments Waterloo and Marina Apartments Abbotsford.
Motif's interiors will be styled by BKH Interiors. The New York and Sydney based company has previously worked on Beach House Apartments Bondi Beach and with SJB on Casba Apartments Waterloo.
Sydney landscape designer Jane Irwin Landscape Architecture will style the development’s green spaces.
Motif is expected to complete construction in August 2014.
“We’re probably about $1000 to $3000 per square metres more expensive than the competitive stock out there and it’s been justified by the design and the location,” he said.
Studio <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-newtown-nsw-2042/147340">2-5/17 Erskineville Road Newtown</a> in Motif, the fifth apartment on the second storey, is about 50 square metres and is advertised for $475,000.
Two bedroom <a target="_blank" href="https://www.mcgrath.com.au/buy/apartment-newtown-nsw-2042/183240/?searchID=30547563">3-7/17 Erskineville Road Newtown</a> on the third floor in the same development is 100 square metres and is priced at $880,000.
Motif has recently received some expressions of interest from a bakery and cafe in retail spaces on the development’s ground floor.
“We’ve got five boutique retail properties and they’re ranging sort of from 110 square metres to 150 square metres of retail. They will come on the market in the next month or so,” said Chen.
Motif is a short walk from Newtown train station and 100 metres from the suburb’s retail and cafe strip King Street.
Two-bedroom apartment at <a target="_blank" href="https://www.randw.com.au/833752/">8/398-402 King Street Newtown</a> in another development named Casa on King is being sold off the plan for between $720,000 and $724,000.
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Motif, a Newtown development offering a boutique lifestyle

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A late 19th century retail and office building on George Street in the Brisbane CBD has sold to Taiwanese investors for just $25,000 more than its previous 2007 selling price.
Flight Centre Properties sold the 292 square metre refurbished four story building at 181 George Street to local Brisbane family almost six years ago for $2.375 million, having paid just over $1 million in 1990.
The sale price equates to annual capital growth of 0.18% - a substantial loss when transaction and maintenance costs over the past six years are taken into account.
<img alt="130710_181_George_St" height="480" width="275" src="/images/stories/2013/larry_uploads/130710_181_George_St.jpg">
The sale took place just before the commercial property market tumbled in the wake of the GFC.
The transaction was negotiated by Ray White Retail investment director Mark Greer and associate director Andrew Adnam.
Located opposite the Treasury Casino, it sold on a yield of around 5% , which Greer says is "reflective of current and future development in the precinct".
It is occupied by Flight Centre, Bean Café and 888 Agency. “The sale is indicative of the proposed and current development activity in the George Street precinct and represents positive investment for Brisbane’s CBD,” Greer said.
“George Street was the city epicentre during the 1940’s and 50’s and has recently experienced heightened investment and development interest.
“We experienced extensive interest in the building from both Australian and international parties and believe Brisbane will continue to see investment demand, particularly in the George Street precinct.”
“The development of 1 William Street by the state government, the Supreme Court and billion dollar proposed casino development as well as the recently completed Taxation Office, Brisbane Square and 400 George St are all contributing to George Street returning to the thriving city precinct that is was some 70 years ago.”
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Brisbane investors takes hit on sale of historic 181 George Street Brisbane building

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Conditions in the housing sector “continued to improve gradually” with house prices rising in the June quarter, according to the minutes of the RBA's July monetary policy meeting, where the cash rate was left unchanged at 2.75%.
The RBA notes that the effects of lower interest rates "were most evident in the housing market and were expected to be apparent in further growth in dwelling investment".
Once again, the minutes provide room for the RBA to cut rates further if required, though the July minutes do note that the inflation outlook is “slightly higher because of the exchange rate depreciation”.
While the July minutes highlight rising dwelling prices (compared with them being deemed flat in the June minutes), they also note that “dwelling investment was flat in the March quarter with continued growth in investment in new dwellings “offset by lower spending on alterations and additions”.
The outlook though for new residential construction remains positive.
“Forward-looking indicators for new construction continued to be favourable, with the number of building approvals increasing strongly in April and loan approvals rising noticeably over recent months, including for new dwellings,” notes the RBA.
“Dwelling prices increased over the June quarter and auction clearance rates remained high by historical standards. This was consistent with the Bank's liaison with builders, which suggested that housing conditions had improved further in most states.”
The July minutes continue more or less where the June minutes left off in relation to the housing market.
In June, the RBA provided an overall positive assessment of trends in the property market noting that “effects of low interest rates had been evident in a range of housing market indicators”.
The effects of lower rates were still apparent "across a range of indicators and, given the lags involved in the transmission of monetary policy, this process had further to run" says the RBA in its July minutes
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“Gradual” improvement in housing conditions as dwelling prices rise: RBA July minutes

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Don't ever expect Australian banks to ever talk down the property market.
The following graph, prepared as part of a report by Tony Hughes, managing director of Moody's Analytics, shows the degree to which Australian banks are leveraged to the property market compared with other countries.
As can be clearly seen, Australian banks have almost two-thirds of their lending tied to the residential property market, compared with just over 40% in Canada, 35% in the US and less than 20% in Germany and the UK.
<img alt="aussie_banks_mortgaged" src="/images/stories/2013/larry_uploads/aussie_banks_mortgaged.jpg" width="470" height="313">
"The high degree of exposure to the domestic mortgage market raises many concerns," writes Hughes.
"Recent experience has shown that house prices can fall significantly and trigger serious banking meltdowns.
"But what are the chances of a similar housing collapse in Australia?
"Many international analysts think the chances of an antipodean housing bust are quite high—it would take a bold economist who has been in a decade-long coma to declare that an Australian housing correction was impossible. When trends in Australian house prices are compared globally, the signs look worrying.
"House prices have increased for longer and faster than in many of the markets where prices cratered during the Great Recession," he says.
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Australian banks way ahead of global rivals on property market exposure: Moody's

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The Melbourne residential vacancy rate increased from 2.7% in May to 2.9% in June, as the rental market eased slightly in June, new figures from SQM Research show. 
A vacancy rate of 3% is considered to indicate a balanced market between renters and landlords.
In total 12,459 rental properties were vacant in Melbourne in June. 
Nationally, the vacancy rate increased by 0.1 percentage points to 2.2% in June with a total of 63,320 rental properties vacant nationwide over the month. 
The rising vacancy rate is expected to put pressure on rents rising further in 2013 and possibly also in 2014. 
Rental pressures eased in Sydney (1.8% to 1.9%), Perth (1.3% to 1.5%), Brisbane (1.9% to 2.1%) and Canberra (1.5% to 1.7%). 
Darwin’s property market swung further in favour of investors with vacancies falling from 1% to 0.8% in June with just 196 properties vacant.  However the Darwin vacancy rate is double what it was a year ago. 
Hobart was the only other capital city market to record a tightening in its vacancy rate from 2.7% to 2.5%. 
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/07/vacancyratesjuly16thumbtwo.gif" rel="shadowbox"><img src="/images/stories/2013/07/vacancyratesjuly16thumbtwo.gif"></a>
SQM Research notes that Canberra’s vacancy rate is up 0.9 percentage points over the past year while Perth’s vacancy rate is up 0.8 percentage points - a “side effect of the slowdown in Australia’s commodities boom, as many of the nation’s mining towns are located in that part of the country”. 
“As stated with May's result, it has become apparent that vacancy rates are now rising. Causations behind the rise vary from city to city,” says Louis Christopher, managing director of SQM Research. 
“For example the rises in Melbourne and Canberra are as a direct result of rises in completions of new residential dwellings throughout 2012 and early 2013. The rises in Perth appear to be more demand related. 
“The net result out of this is that rents will struggle to rise for the remainder of this year and 2014 could see zero rental growth as an average for the capital cities. 
“Indeed, we have evidence rents are already falling in at least one city, being Canberra.”
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
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Melbourne leads continued easing of rental market with rents unlikely to rise until 2015: SQM

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Property developers have been singled out for special attention as part of the Australian Tax Office’s (ATO) 2012-13 compliance program.
The compliance program identifies the most significant risks to compliance with the tax and superannuation systems.
In examining 2012-13 tax returns, the ATO says it will increase its focus on “property developers with a history of non-compliance”.
“By engaging with taxpayers at registration and throughout the property lifecycle, we will encourage them to correctly assess and report their liabilities and, where necessary, require them to provide security bonds against projected future tax liabilities,” says the ATO.
The ATO will also seek to clamp down on illegal “phoenix” activity having identified over 2,000 property developers who "placed companies in liquidation with outstanding GST obligations on multiple occasions".
Phoenix activity is when a company deliberately goes into liquidation, leaving its debts behind, while the assets are shifted into a new entity that begins trading again, often under a similar name.
The ATO plans to conduct over 200 reviews and audits as part of its efforts to reduce fraudulent phoenix activity.
“The most serious cases will be prosecuted. We will also be increasing the use of legal collection processes against phoenix company directors, including director penalties,” says the ATO.
“Fraudulent phoenix activity involves the deliberate liquidation of a business entity to avoid financial obligations, including tax and superannuation liabilities, without risking the operator’s assets and with the full intention of resuming business operations through a new entity,” says the ATO in its latest compliance program.
“Liabilities are ‘parked’ in the liquidated business and the underlying business activity is resumed free of liabilities.
In an earlier statement this year, the ATO said it would focus on property developers who “cheat the community by not reporting GST on property sales and pocketing the GST paid by consumers”.
The ATO says it has enhanced its intelligence-gathering and analysis capabilities to “more effectively identify and monitor fraudulent phoenix operators with the aim of deterring potential phoenix activity before it occurs”.
It has an additional $552 million at its disposal over the next five years (2011-16 financial years) to administer the GST voluntary compliance program.
The compliance program mentions that a referral from the Northern Territory Revenue Office (at the centre of surging property prices)  "initiated a series of audits on property developers disengaging from the tax system and thus evading payment of income tax and GST on property sales, resulting in revenue of approximately $5 million with potential compliance impacts for state stamp duty and land tax".
Other continuing compliance activities relating to property transactions include:
<ul>
<li>expanding and improving the use of third party information to identify unreported sales, particularly in the case of one-off property transactions</li>
<li>working with taxpayers and their tax agents to alert them to discrepancies before audit action n identifying incorrect application of the margin scheme provisions to reduce the GST payable on property sales</li>
<li>undertaking approximately 1,000 reviews and audits</li>
<li>providing greater certainty for taxpayers on the treatment of transactions associated with commercial residential premises through the publication of the final commercial residential ruling in August 2012.</li>
</ul>
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Property developers to face increased tax scrutiny as ATO targets illegal “phoenix” arrangements

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Selling agents expect between $45 to $50 million for a 15 level office tower at 85 Spring Street in Melbourne’s so-called ‘Paris-end’.
Jones Lang LaSalle agent Paul Burns said the mid-80s Esanda building overlooking Treasury Gardens and the Parliament precinct would also suit residential apartments.
"It’s a ripping site for either,’’ he said of the building which was refurbished in 1998 and abuts the Parliament city-loop entrance.
It has been listed through Burns along with Leigh Melbourne of Colliers International.
The building last sold to private investment company Kador Group for about $47 million in 2011 when sold by AMP Capital Investors.
AMP paid the ANZ $30.03 million for the building seven years earlier.
Melbourne-based Kador credits itself with an efficient energy management focus, incorporating environmentally sustainable initiatives into the operation of its properties.
Short-term tenants of the building are the ANZ. The land area is 1241 square metres and the present building’s area is 10,435 square metres of quality office space. It has a 2.5 star Nabers energy rating.
"This is a commercially significant site which the buyer could refurbish, extend or redevelop into a major office in this premium location, or it could be converted to residential with the street plates extended to the street front,’’ Burns said.
He said architects Bates Smart had preliminary drawings which the buyer could access prior to commissioning the firm to further develop the building into a major high density apartment tower.
‘’There’s only a limited amount of residential product in the area – just a handful of other possible similar offerings’’ in this part of Spring Street between Collins and Little Collins streets.
Expressions of interest close on August 14.
In 1973 it was reportedly offered for sale with an adjoining block and a permit for a 23-storey tower.
 
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Spring Street Melbourne office site for possible residential redevelopment

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Like me you may be able to clearly recall when living in a flat or buying an apartment was seen as an entry point into the housing market.
For varied reasons a flat, or a unit was seen as ‘second-best’. Why was this so? In many respects price would have been key, and living in an inner-city flat was often a better choice because of easier access to employment or university.
Here’s another suggestion – in the 1830s the first multi-unit homes were built in New York, but these were not really flats or apartments, because as inner-city tenements a number of dwellings shared a bathroom.
It was not really until around 1870 that ‘real’ apartments started to be developed as fully self-contained multi level homes. Today from such a humble start apartment living is now a fully mature market, and when it comes to CBD apartments a very complex market and a rich demographic.
Over the last few weeks I have already suggested some key dynamics that are now common in our major cities. Recapping these include and in no particular order: the clear emergence of several well-defined sub-markets where in terms of price and quality the resident profiles are very different from other parts of the CBD.
Different types of facilities influence where people choose to live, as both buyers and of course the very high number of people renting, and so investment potential is also a strong motivation.
However most CBD apartment dwellers also have a lot in common on the list of must-haves, and these include location, convenience, design, facilities, views, public transport, prestige and the general desire for active and appealing neighbourhoods. 
It is clear that in the CBD a ‘great position’ is made up of a big list of features like public amenity, a rail link to the airport (in particular in Sydney) alongside lifestyle attractions such as access to parks, cafes, shops, restaurants, what many of the buyers I speak to refer to as the ‘buzz’ – in fact as a collective narrative its perhaps the most common factor.
Another two key issues that popped up all of the time, and regardless of location and price was design and quality. While the two items might be defined very broadly, as the CBD market continues to mature design and quality are now very clearly understood by any buyer.
Some points like size will always be a function of price – other factors like privacy, noise, storage and in-house facilities are important to the keen eye of any buyer.
 
<hr class="system-pagebreak">
Building lifestyle facilities
Clearly we have come a very long way since the days of those New York tenements in the 1830s with ‘shared-bathroom facilities’ and buyers now have very clear expectations about the ins and outs of their own apartments, which brings me to some of the feedback I have noted about building facilities, common areas and how strata plan levies are impacted.
Some buildings have great facilities, like the lap pool in Sydney’s The Hyde, which the developers (Stocklands) had the vision to place on level eight of the building and so ensured all residents had a pool that appears to float above the trees of nearby Hyde Park.
They could have always put the pool in the basement or to the backside of the building. It’s like the clever thinking that saw a common roof terrace on top of the Astor in 1923 and on the roof of many early apartment buildings built in Potts Point.
It is however clear that buyers see facilities falling into two clear groups – the must have facilities and others that people might like to have but are not seen as essential. There will always be a relationship between apartment prices, the size of a project and the reality that ongoing levies will be impacted.
Buyers in the CBD also see the ground-level public amenity that surrounds their building as part of this picture, as cafes, restaurants and shops are not the usual preserve of an individual building nor are large sometimes 24 hour fitness centers but for many buyers a ‘city-pad’ surrounded by these services is an essential and likewise CBD residents who rent.
Outside of these it is  important to note that other areas like security, parking and storage are must haves, although parking is under pressure and is becoming more limited with 2-bedroom and 3-bedroom apartments no longer having one plus spaces.
Most of the feedback I have garnered from buyers is that they are happy with this if local transport is good and so the car might not be used during the working week.
In Melbourne the tram network was extended to the Docklands area from the start and also in Brisbane the intensive residential development along Southbank also had rail access. Now Sydney’s light rail in the CBD will be a key transport link for city residents.
Turning back to individual buildings after we tick off security and easy access to parking (including visitor parking) the choice of desirable facilities has grown. In recent years, while we still have pools and some smaller but very well-equipped gyms appealing to most buyers, there has also been the spread of common-use areas. These now include meeting rooms, libraries, cinema rooms, and wine cellars and shared dining areas with quality BBQ facilities.
When apartments in general are tending to get smaller, what most of these facilities have in common is that they extend the ‘personal’ entertaining opportunities for the building community, which is seen as very desirable. It’s easier to entertain family and friends on special occasions and once established they are not a cost burden.
Building management is also now a keenly understood area that extends way beyond what for some may have been the novelty of a concierge – a high level of professional management is now critical.
 
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Someway To Go
The CBD apartment market already has a long heritage and its appeal is only growing. In our major cities buyers and already well-established residents have a clear idea of what is good and not so good about city living.In taking a project into this market the demographics have some clear pointers that reveal a complex market.
This is a high-density highly urban market, a mobile and shifting market where off-shore buyers are active, many buyers are investors and accordingly a lot of your neighbours will be renting, it’s a young market, but for lifestyle reasons many high-end buyers are older with very precise expectations of location and quality. Local and building facilities are key and building services and quality continue to improve.
One of the many buyers I spoke to said to me that they had looked long and hard before they moved into the CBD, they were very aware that within 10ks of the city they also had different options, that were much cheaper. But in the end they were happy that the city offered a rich lifestyle, a good mix of facilities with easy work access – but there was room for the city (Sydney in this case) to improve.
Once More to New York
I mentioned earlier the appeal of a building concierge, and New York is the home of the ‘doorman’ and woman. A New York doorman might perhaps be the measure of a very mature CBD residential market. We all know the uniform that may even include top hat, gloves, epaulets, a jacket, embroidered with building logos, and stripe pants.
It’s worth a footnote to history as the doormen have been around ever since the Romans coined the job title — ostiarius — for the slaves who guarded their doors.
The men and women who are now an important part of many CBD apartment buildings do have a long history and while in Australia they might be spared the use of white gloves it’s a great reminder of the charm of city living as something we can all find stimulating to market.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
 
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A flat or a unit has always been viewed as ‘second-best’. Why is this so?: Peter Chittenden 

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The 'inevitable Australian housing bust' has turned out to be a real fizzer. 
We haven't been short of property crash predictions in Australia, but so far the forecasts have come to nought, with market sentiment once again reversing northwards from mid-2012 as interest rates were dropped. 
Until the day we get a crash, of course, we never will be short of predictions, butthe recent housing finance data showed further increases in May.
Some housing bust predictions  Neil Jenman, 2001: "The real estate market will crash".  Jenman reiterated his coming Melbourne property crash prediction in 2003, noting that: "The peak will probably turn out to be late 2001 to mid 2002, around time that we issued our first warnings." 
But we never really got a property crash. Instead we got something of a slowdown in many markets, but prices in Melbourne have since surged and more than 80% higher than they were at that time, while Australia's city populations have surged. 
I note in passing that the Australian population when Jenman made his first crash call, as recorded in the 2001 Australian Census, was 18.972 million, as compared to 23.115 million today. Demand for housing in capital city suburbs is rising with every passing week. The property crash predictions have continued, yet prices in many areas have kept on climbing:
Professor Steven Keen, 2008: "When the expectation [of rising asset prices] goes, ultimately goodbye 40% of the current price of houses."
David Llewellyn-Smith, 2010: "This blogger reconfirms his assessment of the bust ahead for Australian housing."
Leith van Onselen, 2010: "In my opinion, an Australian house price crash is inevitable and cannot be avoided."
Philp Soos, 2011: "Australia's property bubble will inevitably burst."
Jordan Wirsz, 2011: "Property prices will crash by 60%."
Jordan Wirsz, 2012: "Buy gold." (immediately before the gold price crash).
David Collyer, 2012: "I predict that property prices will fall by 15-20% in 2012".
Harry Dent ,2012: "The real estate market will crash in 2012. Prices could fall by more than 60%."
Philip Soos, 2013: "Australian housing will crash."
So, the first thing we can ascertain is that the timings of asset price cycles are far more unpredictable than we tend to believe they are.
 
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But while it might appear that Australian real estate is on the up, on closer inspection, I'd suggest that perhaps in many markets a long, slow decline in real terms is already well underway, which in all fairness to Keen is precisely what his words seemed to imply back in 2008.
In particular, property markets in Adelaide, Brisbane, Canberra and many regional markets have not yet responded in any meaningful way to stimulatory monetary policy. In fact, only Sydney's housing markets have broken through to new highs, with all other markets below previous peaks, which thus represents something of a decline in real terms. <img style="display: block; margin-left: auto; margin-right: auto;" src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6bl-dwelpri-small.gif?accessed=2013-07-13-14-00-56" alt="Dwelling Prices graph">
Has the risk of a property crash gone away?
No.
Whilst prices remain high, there is always the chance of a crash.
However, yesterday's housing finance data suggests that no housing bust is imminent, with the value of dwelling commitments rising seemingly inexorably over the past year:
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://www.abs.gov.au/ausstats/abs@.nsf/a866861f12e106e0ca256a38002791fa/05dbce56402ec566ca25723d000f2999/Body/0.1FE6!OpenElement&amp;FieldElemFormat=gif" alt="Graph: Value of dwelling commitments, Total dwellings">
Source: ABS
To instigate a property market crash, given that there is no real over-supply of dwellings in most cities, we'd probably need a credit shock, a sharp rise in unemployment, much higher interest rates or a policy change such as a reform of the negative gearing tax laws (or, of course, a 'black swan' event, which by its very nature is an unforeseeable trigger).
These factors look to be unlikely in the short term, but we could yet see unemployment rising materially as the labour-intensive mining construction boom unwinds. But could prices declining in real terms? 
There could also be some hidden good news for homebuyers in some Australian cities. Prices have essentially gone nowhere for years in cities such as Adelaide, Canberra and Brisbane, which means that prices in real terms have been declining and are becoming more affordable, particularly with interest rates falling to record lows.
Plenty have said that this can't be a property recovery without the participation of first-home buyers, and some have also said that prices cannot move higher without first homebuyers propping up the bottom of the market (not that this has ever held back London house prices over the past quarter century). However, you choose to define the word 'recovery', it's heartening to see the number of first homebuyer commitments picking up over the last few months, although the value of their commitments remains relatively low to date. I have long felt that first-home buyers will gradually come back into the market once they believe that prices won't fall further, but this is one data set to keep a close eye on.
 
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Investors are leading the recovery.  There have been some reports 'on the ground' that at last activity in Brisbane is beginning to pick up. And some have also been arguing that prices in Adelaide are going to now pick up strongly after a slack five years. 
I'm not so sure about Adelaide, as the supply appears to be meeting the demand for housing. A closer look at the figures shows that investor activity in Australia (value of investor commitments) is up an astonishing 24% over the year which in part explains why Sydney recorded yet another extraordinary 81% clearance rate on Saturday. Investors are pumping up the market. Sydney prices are up +8.5% in this cycle already, with the inner west markets running very hot (as I've been saying forever and a day now, it's the $500k-$1 million inner west suburbs which represent the hot markets).
The 'positive cashflow investors' who are suggesting that regional centres and fringe suburbs are going to beat inflation and be good investments over the next decade are, in my opinion, stuck in the past - in 2005 to be precise, which is when households stopped leveraging up and began saving. It may not have been a bad strategy from 1993-2005 for those for whom servicing investment mortgages was an issue, but it's the wrong strategy today. If you are waiting for households to simply keep on taking on ever more mortgage debt in perpetuity and prices to magically keep increasing ahead of incomes you are likely to be very disappointed.
<img width="400" src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6tl-hhfin-small.gif?accessed=2013-07-13-14-00-56" height="359" alt="Household Finances graph"> The recovery in property markets has been investor-led, which means that quality inner-city markets will be the likely outperformers - the regional markets/fringe suburbs look much more likely to me to struggle badly.
If you want to outperform you will need to anticipate where the next huge wave of speculative investment capital is heading, and that is to the four main capital cities, and in particular, to Sydney suburbs close to the city. Melbourne has already experienced a tremendous boom in prices since 2007. Perth is travelling very strongly again with its low unemployment levels of just 4.6% and booming population growth. And prices in Sydney seem set for more very strong growth.
I'll be forced to change the broken record on Sydney's inner west at some point, but judging from the scorching auction clearance rates recorded on Saturday, not for quite some time to come yet.
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">Get a Financial Grip – a simple plan for financial fr</a><a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">eedom.</a>
 
 
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