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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Today RP Data released an update to their Buy versus Rent report which provides a suburb by suburb summary about the standard costs associated with servicing a mortgage compared with paying rent.
Before everyone starts pointing out that the analysis doesn’t include the costs associated with a property purchase and ownership (stamp duty, conveyance, rates and taxes are some examples), nor does it include an assumptions around capital growth or decline. 
The purpose of the report is to provide a base level summary about mortgage costs across four different scenarios versus rental costs for a particular product type within a specific suburb.
The four scenarios used for mortgage costs are laid out below together with the number of suburbs where we the typical mortgage payment is likely to be lower than the typical rental payment:
<a href="https://blog.rpdata.com/wp-content/uploads/2013/07/No-of-subs-cheaper-to-buy-than-rent.jpg" rel="wp-prettyPhoto[g2216]"><img alt="No of subs cheaper to buy than rent" src="https://blog.rpdata.com/wp-content/uploads/2013/07/No-of-subs-cheaper-to-buy-than-rent-521x580.jpg" width="470" height="523"></a>
Compared with the same analysis for one year prior the number of suburbs where it is more affordable to pay down a mortgage than rent has increased substantially. 
In June last year there were only 179 suburbs on the list.  The big jump in numbers can be attributed to a few factors.
Firstly, the fact that property values have grown at a slower pace than rental rates. 
Most capital cities are still recording dwelling values which are lower than their previous peaks.  Of course there is also the fact that mortgage rates have moved back to around generational lows which makes the cost of servicing debt much more affordable.
For those who don’t mind paying a little bit more than the typical rental payments within a suburb, the opportunities increase substantially.  If you are willing to pay an extra $50/week on top of the typical rental payment the number of suburbs where paying a mortgage can be more affordable than paying rent rises to 1,761 suburbs.
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
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The locations where mortgages make more sense than paying rent: Cameron Kusher

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Muswellbrook, in the New South Wales Upper Hunter, has been ranked as one of the country’s 24 “Kevlar-clad areas” that have not experienced backward movement in median price in the last 10 years. The report drew from data compiled and analysed by research house Residex.
Muswellbrook, a mining town 243 kilometres northwest of Sydney’s CBD, has seen steady growth in median property prices over the last decade, according to a report from the August edition of property investment magazine Australia Property Investor.
“It’s been excellent over the last 10 years, prices haven’t decreased, as it’s such a strong mining and agricultural area,” Jay Shepherdson, licensee of JTS Realty, told Property Observer.
John Flood Estate Agent Muswellbrook’s director Sandy Warburton, who has been dealing with Muswellbrook real estate for 18 years, agreed.
“Generally speaking, there hasn't been negative growth while there's been ups and downs in other places. We don't see great surges from year to year, but steady growth over time, over the last fifteen years,” Warburton said.
Warburton warns the figures are purely based on median house prices. He notes that buyers should also be mindful of other costs such as stamp duty and agent fees.
“People may find if they've bought and sold in a period of 12 months, that other costs make their sale unprofitable,” Warburton said.
In addition, both Shepherdson and Warburton said the Muswellbrook property market has slowed in the last six to 12 months.
“The market itself is down a little bit, probably down about 5% because a lot of the contractors have been put off before Christmas, leading up to the election,” Shepherdson said.
Warburton added that growth in the top and bottom ends of the Muswellbrook market has plateaued, while “medium-priced properties are still turning over.”
Movement in the market is currently dominated by first-time home buyers as well as investors.
“Vacancy rates have increased a little in the last six to twelve months, from under 1% to 3-4%, which is a little bit of a turnoff for investment.
This has allowed for homeowners to return to the marketplace as competition is not there from investors driving the price up.
Homeowners normally buy (properties) around the median price. With the slowdown in investment, it gives first homeowners a bit of a chance.” Warburton said.
Shepherdson added that investors who own rental properties in the area have been selling their properties, while “cashed-up” investors as well as locals who are looking to upgrade have been purchasing properties in Muswellbrook.
However, an investigation by Property Observer found properties which defy these optimistic figures.
A two-bedroom unit at <a target="_blank" href="https://www.realestate.com.au/property-duplex+semi+detached-nsw-muswellbrook-111422199">2/27 Mitchell Street</a> (pictured below) sold in May this year for $210,000. Prior to this sale, it sold in 2008 for $206,000, reflecting a $4000 price growth over five years, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellmek_aug_14_one.jpg" alt="muswellmek_aug_14_one">
The unit has also been listed for rent three times this year. It was listed in May at an asking price of $250 per week, in June for $310 per week, and in July for $290 per week, according to RP Data records.
It was also listed for rent in January 2011 at an asking price of $250 per week, with an increase in asking price in December that year to $260 per week.
In 2009, the asking rental price was $230 per week, according to RP Data records. 
Another two-bedroom unit at 6/6 Skellater Street sold in February this year for $130,000, according to RP Data records. Prior to this sale, it sold in 2009 for $123,000, reflecting a price growth of $7000 over 4 years.
It has also been listed for rent since 2011. The asking rent in 2011 was $320 per week, and grew to $360 per week in 2012. It was just listed for rent in August this year at an asking price of $250 per week, according to RP Data records.
In addition, a three-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-muswellbrook-111888159">8 Maitland Street</a> (pictured below) sold in April this year for $170,000. Prior to this sale, it last sold in 2009 for the same price according to RP data records – reflecting no price growth over four years.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_two.jpg" alt="muswellbrook_aug_14_two">
It was listed for sale in October last year at an asking price of $175,000, and spent 202 days on market. It was also listed for sale in March 2008 at an asking price of $180,000, and spent 539 days on the market, according to RP Data records.
As of the 2011 Census, Muswellbrook has a population of 11,791 people, with over 20% of them working in the coal mining industry. Coal mining as well as agriculture have traditionally dominated Muswellbrook’s industries.
Properties that have recently sold in Muswellbrook include:
<a href="https://www.realestate.com.au/property-house-nsw-muswellbrook-112685607" target="_blank">1 Jarrah Place</a> (pictured below), which sold earlier this month for $425,000 through John Flood Estate Agents Muswellbrook. Prior to this sale, the house last sold in 2008 for $425,000, in 1996 for $205,000, and in 1990 for $19,000, according to RP Data records.
It was listed for sale in October last year with a price guide of “mid-high $400,000s”, and spent 246 days on the market. It was also listed for sale in April 2008 at $439,000 and spent 231 days on market, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_three.jpg" alt="muswellbrook_aug_14_three">
Another house that sold recently was <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-muswellbrook-112528631">36 Anzac Parade</a>. The three-bedroom house (pictured below) sold for $198,000 through Premium Real Estate Services Muswellbrook in May this year. Prior to this sale, the house last sold in 2009 for $106,000, according to RP Data records.
It was listed for sale since December last year for $204,900, and spent 137 days on the market. It was also listed for sale for 33 days in January 2009, according to RP Data records.
The house has also been listed for rent at an asking price of $240 per week in May 2010, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_four.jpg" alt="muswellbrook_aug_14_four">
Properties that are currently on sale in Muswellbrook include:
<a target="_blank" href="https://www.realestate.com.au/property-townhouse-nsw-muswellbrook-114199587">2/39 Woollybutt Way</a>. The three-bedroom townhouse (pictured below) is currently listed for sale at $159,990 through LJ Hooker Muswellbrook.
It last sold in 2010 for $155,000, according to RP Data records. It was also sold in 2006 for $140,000, in 2002 for $65,000, in 1994 for $78,000, and in 1992 for $80,000, according to RP Data records.
<img height="353" width="470" src="/images/stories/2013/08/muswellbrook_aug_14_five.jpg" alt="muswellbrook_aug_14_five">
Prior to this listing, it was also listed for sale in May 2010 for $165,000, and spent 103 days on the market, according to RP Data records.
In addition, it has also been listed for rent. In 2009, the asking rent was $200 per week, while in 2008 the asking rent was $190 per week, according to RP Data records.
The three-bedroom house at 74 Acacia Drive (pictured below) is currently listed for sale at $339,000 through JTS Realty Muswellbrook. 
<img height="342" width="456" src="/images/stories/diane/main.jpg" alt="main">
It last sold in 2003 for $178,500 according to RP Data records. It was also sold in 1998 for $120,000, and in 1991 for $83,000, according to RP Data records.
Terry Ryder of hotspotting.com.au recently commented on "bulletproof suburbs" in a piece <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/a-suburb-can-show-consistent-gorwth-year-after-year-but-nowhere-can-be-labeled-bulletproof-terry-ryder/2013072463538">published</a> by Property Observer, stating that "nowhere is immune to downturns".
According to the <a href="/news">latest RP Data report</a>, the median sale price for houses in Muswellbrook is $331,000, up 8.5% on last year. The average discount required to sell a house is 4.7%, while private treaty sales average 89 days on market.
The median asking rent for houses in Muswellbrook is $380 per week, while average rental yield currently stands at 6%.
The median sale price for units in Muswellbrook is currently $292,500, with no change on last year. The average discount required to sell a unit in Muswellbrook is 8%, while private treaty sales average 60 days on market.
The median asking rent for units in Muswellbrook is $360 per week, while average rental yield currently stands at 6.4%.
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dleow-BGaNPbHWyK

Upper Hunter's Muswellbrook might not be quite so "kevlar-clad"

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{yoogallery src=[images/stories/september21pettit]}
Ken Woolley's latest Modernist Pettit + Sevitt project home, built recently with 21st Century thinking, has been sold for $900,000.
Initially listed in 2011 with $1.18 million plus hopes, it was most recently marketed with revised $850,000 plus expectations.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-kellyville-nsw-2155/152446">The five-bedroom, two-bathroom Lowline house project</a> by the veteran architect was built in the Sydney hills district suburb of Kellyville at the request of Val Sevitt, the widow of company co-founder Ron Sevitt.

<a target="_blank" href="https://www.pettitandsevitt.com.au/">It is some three decades after the original building company closed its doors</a>. The original 1960s house design (pictured below) has been updated to meet modern building requirements in the Kellyville project.
<img height="273" width="400" src="/images/stories/2013/05/pettitandsevittmay1one.jpg" alt="pettitandsevittmay1one">
Pettit + Sevitt relaunched in 2009 under the directorship of Ron Sevitt’s widow, Val Sevitt, and her children, Colin Sevitt and Carol Perry.

At one stage Pettit + Sevitt was building 400 of Lowline houses a year with about 3,500 built in the 1960s and '70s.

McGrath agent Mark Vinogradov had the listing at 26 Country Club Circuit.
Image courtesy of the Powerhouse Museum.
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jchancellor-FAypfDUnLy

Modern Kellyville Lowline Pettit & Sevitt finally sells for $900,000

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Plenty of time now given the recent arrival in the new financial year. So if you are you intending to sell a property at a loss this financial year and offset the loss in your tax return against capital gains derived during the year there's plenty of time?
Make sure the sales contract is dated on or before June 30.
See our free ebook on the <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-top-24-tax-strategies">top 24 tax strategies</a> for property investors.
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po-LsXgBTHBmX

Check date of sales contract

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ANZ has left variable mortgage rates unchanged at its monthly independent interest rate review.
The bank's standard variable mortgage rate remains at 6.13% per annum (6.23% comparison rate).
Variable interest rates for small business lending also remain unchanged.
The bank makes its own interest rate decision on the second Friday of every month.
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lschlesinger-FZcF9M3vE6

ANZ leaves variable mortgage rates unchanged at 6.13%

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The development of the airspace above Sydney's central station has been proposed by the NSW Government continuing the State Government's asset sales program.
The NSW Minister for Planning, Brad Hazard has <a href="https://www.planning.nsw.gov.au/StrategicPlanning/CentraltoEveleighcorridor/tabid/669/language/en-US/Default.aspx" target="_blank">unveiled a concept plan</a> shows a cluster of high-rise buildings over Central station platforms stretchingthe corridor between Central and Eveleigh and along the Belmore Park perimeter.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/07/centralstationjuly12one.gif" rel="shadowbox"><img src="/images/stories/2013/07/centralstationjuly12onethumb.gif"></a>
They will have high rise buildings above the tracks emulating previous localities including Edgecliff, Chatswood and Kogarah.
"This is a golden opportunity Sydney can offer up," he said.
It was dead space which could become a new heart of Sydney over the next 10 to 15 years, he added.
Brad Hazzard said it was an urban renewal opportunity unrivalled anywhere in Australia.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/07/centralstationjuly12two.gif" rel="shadowbox"><img src="/images/stories/2013/07/centralstationjuly12twothumb.gif"></a>
"We believe there is the opportunity for a world class redevelopment of the corridor on a scale that reflects Sydney’s global city status," he said.
"Similar models have been successfully implemented in New York, Paris and London.
"By building above the rail lines and on underutilised land we can potentially make available more than one million square metres of new floor space - double the size of Barangaroo."
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Sydney's Central Railway Station airspace to be developed

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Home loans to owner occupiers rose by a lower than expected 1.8% in May, according to the latest seasonally adjusted figures from the ABS.
There were 49,636 home loans approved in May compared with 48,475 in April.
A survey of economists by Bloomberg last week had forecast a median rise of 2.2% in May. 
Total housing finance by value increased 2% in May on a seasonally adjusted basis to $23.433 billion.
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Mortgage lending up lower than expected 1.8% in May: ABS

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The number of suburbs where you could be financially better of buying rather than renting has risen from 494 suburbs in December to 692 as of July, according to the latest RP Data Buy vs Rent Report.
The theoretical report lists suburbs across Australia where renters should think about doing the sums and perhaps looking at buying an equivalent property (if they can find one) rather than paying rent to a landlord.
The latest list is dominated by Queensland suburbs which make up more than third (242 suburbs) out of the 692 suburbs.
Greater Brisbane accounts for 71 suburbs while the remaining 171 can be found in the regional areas of the state.
There are 193 suburbs in NSW (73 are in Sydney), 75 in WA, 54 in Tasmania and 45 each in Victoria and South Australia.
Just two out of the 45 Victoria suburbs are in Melbourne.
Reflecting their relative unaffordability, there are just 29 Northern Territory suburbs on the list and six in Canberra.
A discounted variable mortgage rate of 5.4% and a three-year fixed mortgage rate of 5.15% have been assumed as part of the analysis.
Additionally, RP Data has assumed buyers hold a 10% deposit.
The full report is available to download for free at <a href="https://www.rpdata.com.au/buyorrent" target="_blank">rpdata.com.au/buyorrent</a>
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Queensland dominates list of 692 suburbs where you could be better off buying than renting: RP Data

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An August rate cut is "on the table", Australian Financial Review columnist and economist Christopher Joye has tweeted this morning.
He told his 4659 followers the RBA "might" cut the cash rate next month writing in the AFR today that the trend rise in the unemployment rate to 5.7% in June "ensures that an August rate cut is very much live and hinges on a soft second quarter inflation reading".
The ABS will release June quarter inflation data on July 24.
<a href="https://twitter.com/cjoye" target="_blank"><img height="134" width="470" src="/images/stories/2013/larry_uploads/christopher_joye_RBA_tweet.jpg" alt="christopher_joye_RBA_tweet" style="font-size: 0.8em;"></a>
Meanwhile, Joye's fellow AFR columnist, David Bassanese has cheekily tweeted to his 3,719 followers that he also tips an August rate cut, but didn't make it onto the front page of the AFR:
<img alt="david_bassanese" height="90" width="470" src="/images/stories/2013/larry_uploads/david_bassanese.jpg">
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August rate cut is "on the table": Christopher Joye

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The proportion of new houses and apartments being purchased by foreign buyers has doubled in the space of two years.
Foreign buyers now account for between 12% and 13% of all new residential property purchases, according to the views of around 300 property participants surveyed as part of the <a href="https://www.propertyobserver.com.au/residential/property-prices-to-rise-just-24-over-next-two-years-as-sentiment-weakens-nab-survey/2013071163168?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">June quarter NAB residential property index.</a>
This is up from foreign buyers accounting for around 5% to 6% of buying activity in much of 2011, previous NAB surveys have found.
<img src="/images/stories/2013/larry_uploads/new_developments_graph.jpg" width="470" height="309" alt="new_developments_graph">
Queensland (20%) and Victoria (14.1%) remain the choice locations for foreign investors followed by NSW (above 10%).
<img src="/images/stories/2013/larry_uploads/new_properties2.jpg" width="470" height="307" alt="new_properties2">
While not stated in the survey, many of the offshore buyers would be purchasing apartments off-the plan in new developments in Melbourne, Brisbane, the Gold Coast and Sydney.
“Asian investors (mainly Chinese) have been driving this trend according to the latest data from the Foreign Investment Review Board, says NAB chief economist Alan Oster.
“A number of factors are driving Chinese investment into Australian property, including initiatives to curb real estate speculation in China, diversification for Chinese property investors and immigration potential.”
The latest quarterly survey found that resident owner occupiers remain the biggest players in the new property market, but their share of total demand has slipped to 36% in the June quarter.
The share of first home buyer activity in the market was broadly unchanged at just over 20%.
In contrast, demand for new property from Australian resident investors climbed to 27% in the June quarter, with investment demand especially strong in Victoria (34%) and Queensland (26%).
“We suspect that the relative low yields offered by fixed interest and continuing equity market volatility may be helping to boost investment demand,” says Oster.
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