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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When official interest rates move, mortgage borrowers have decisions to make.
Broadly speaking, you can stick with a variable rate loan which means paying the best market rate in any given month. Or, you can take a fixed rate mortgage where you lock in a rate for a set number of years.
Neither approach is risk-free. If you fix for three years you risk that during that time the variable rate will become cheaper, and you’ll be paying too much on your loan.
The reverse is that you have a variable rate loan during a time when the Reserve Bank puts up the cash rate, and your mortgage goes up too.
So what should borrowers be doing now?
You should think about two perspectives: interest rates and products.
Firstly, form a view on where interest rates are going.
We can gain insight into this by looking at what the professionals think: the ones to watch are the Reserve Bank of Australia and the banks’ swap rate markets.
The Reserve Bank has been cutting the cash rate since November 2011, and it is now at the historically low 2.75%. Will they cut further?
They’re giving themselves the permission to cut again. The latest decision in June included the statement that current inflation ‘might provide some scope for further easing’.
You have to balance that against the fixed rate market. Several lenders currently have 4.99% fixed loans for three years, which is a good deal compared to the best variable loans which are around 5.3%.
The markets that underpin fixed rate mortgages are the ‘swap rates’ – in the past three weeks they slid from around 3.2% to 2.9%, which indicates banks believe the price of money is dropping.
The job for anyone who wants to fix is to look at the RBA and the swap rates and make a determination as to how low the price of money goes and for how long.
You should also look at products. While variable rate mortgages are fairly simple market-linked loans, fixed rate mortgages have potential pitfalls.
If you take a fixed rate at 4.99%, you want to get further ahead than if you took a variable rate. So you want the lender to allow lump sums on the loan so you can pay it out fast. Many fixed rate loans only allow a fixed payment.
Secondly, watch for break fees on fixed loans. If you sell your home during your three-year term and pay out the mortgage, some loans require you to make good on the income the banks otherwise would have earned.
The third point is to know yourself. Some want the certainty of fixing at a low rate while others want the best market rate in any given month. It’s a personality thing and you should understand where you’re comfortable.
As always, be aware of the forces that work on your finances and be informed. If you’re confused, ask an adviser.
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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Weighing up fixed vs variable interest rates: Mark Bouris

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A 22% rise in the number of new houses and apartment built is anticipated in Greater Brisbane over the next year.

Almost 3,000 more new dwellings are expected to commence being built over the next 12 months than the previous 12 months, according to forecasts from BIS Shrapnel.
In total, 15,859 new house and apartments are expected to be built in the Greater Brisbane area in 2013/14 compared with 12,963 in 2012/13.
Brisbane will pick up the slack from Melbourne, the now declining, but still the epicentre of new dwelling construction in Australia.
Melbourne dwelling starts are forecast to fall 18% from 38,471 new homes under construction in 2012/13 to 31,423 in 2013/14.
This is still greater - for now - than Sydney, which is forecast to manage a solid 10% growth in residential starts rising from 26,806 dwellings to 29,360.
Much of the new construction in Brisbane will be focused on apartments projects in the inner city with <a href="https://www.propertyobserver.com.au/residential/brisbane-apartment-market-heats-up-as-more-buyers-choose-apartments-over-houses-terry-ryder-hotspotting/2013060561953">hotspotting.com.au’s Terry Ryder</a> writing earlier this month that two new reports by Place Advisory and Colliers International confirm that off-the-plan sales in the March quarter were the highest since September 2004, boosted by the release of six new projects.
Place Advisory records 625 off-the-plan sales in inner Brisbane in the March quarter – double the number in the December 2012 quarter, 40% up on the same quarter last year.
In Queensland, the pick-up in residential building is not confined to the capital city, with a number of lifestyle locations such as Wide Bay and Toowoomba, a property investment hotspot, also included in the Top 20 residential building growth markets.
<img width="470" height="474" src="/images/stories/2013/larry_uploads/dwellings_up.jpg" alt="dwellings_up">
 
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"The Wide Bay region lies just above the Sunshine Coast and includes the major regional cities of Bundaberg, Gympie, Hervey Bay and Maryborough. The region is a lifestyle location with tourism being a key industry in the local economy,” says Kim Hawtrey, associate Director of BIS Shrapnel. “We expect continued strong economic activity to drive a pick up in home construction in regions such as Wide Bay (forecast to be up 16%) and Toowoomba (up 12%) in 2013/14 and beyond.”
Greater Brisbane ranks 10th overall among residential building hotspots over the next 12 months, but is by far the biggest market in the top 20.
Other notable larger markets expected to experience strong growth in residential dwelling construction include Bunbury in WA (up 27%) and Newcastle and Lake Macquarie (up 19%).
The pick-up in Bunbury, the Wheat Belt (forecast to grow by 29%), Esperance (+27%) are part of a building focus shift “strongly towards the southern half of the state, especially the south west corner”.
“Bunbury, Esperance and the Wheat Belt cover the south-west corner of the state, including the Margaret River wine region and Manjimup,” says Hawtrey. “The area includes a number of manufacturing operations as well as a local tourism industry and a lifestyle component of demand. A new rail link to Mandurah is promising to open up the region.”
By comparison, the resources-rich Pilbara region is set to undergo a significant residential building correction as the mining investment boom peaks with a forecast 36% drop in dwelling commencements in 2013/14.
<img width="470" height="472" src="/images/stories/2013/larry_uploads/dwellings_down.jpg" alt="dwellings_down">
Other towns tied to mining that are expected to undergo a residential construction slowdown include the Kimberley region (-22%), Greater Darwin (-12%) and Mackay (-8%) in Queensland.
While a relatively tiny market by comparison to Brisbane and Sydney, Coffs Harbour will undergo a mini-residential building boom with a forecast 52% rise in dwelling commencements over the next 12 months.
“Coffs Harbour-Grafton hugs the coast towards the north of New South Wales, sandwiched between Richmond-Tweed and the Mid-North Coast. It has an older age profile, with a median age of 44 compared to 38 across the state as a whole, and has a significant lifestyle and retiree component to demand,” says Hawtrey.
 
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lschlesinger-FZcF9M3vE6

Brisbane to lead residential construction pick-up as Melbourne and Pilbara region contract: BIS Shrapnel

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I was reading an article last week in Technology Spectator – <a title="Going native in search of an online ad antidote " href="https://www.businessspectator.com.au/article/2013/6/20/technology/going-native-search-online-ad-antidote" target="_blank">Going native in search of an online ad antidote </a>which immediately had me thinking. “They say that for change to occur in an industry or an organisation three things must happen.”
“One, the organisation or industry must be dissatisfied with the current conditions. Two, an appropriate alternative must exist. Three, the organisation or industry must believe in their capabilities to implement this alternative.”
My mind went back the ‘’recession we had to have” in the early 1990s, the real estate industry was severely impacted due to our inability to communicate because of the high cost of print advertising. The birth of the online revolution (internet) in the mid-1990s has significantly changed how we communicate today, we now promote our businesses and products much more cost effectively through this online medium. Some businesses adopted this change with more vigour and passion, like most things there are the leaders and the followers.
So it should not be that disconcerting to then read that <a title="Saul Eslake joins the recessionista " href="https://www.macrobusiness.com.au/2013/06/saul-eslake-joins-the-recessionista/" target="_blank">Saul Eslake joins the recessionista </a>where he put the odds of Australia slipping into recession in the second half of 2015 at 25%, with an expectation that gross domestic product will rise one per cent in 2015 and shrink 0.1% the following year.
<a title="Australia not heading into recession, says Clyne" href="https://www.smh.com.au/business/markets/australia-not-heading-into-recession-says-clyne-20130617-2odem" target="_blank">Australia not heading into recession, says Clyne</a> “business confidence remained low, with companies holding back investment plans. One bright spot remains consumer confidence which was holding up. “Consumer confidence is less of a problem than business confidence,” Mr Clyne said.“Generally there is always an uptick in consumer confidence after an election”. “Because by definition the party that wins, most people voted for and they feel good about the outcome.”
I guess having Australia’s longest ever election is only compounding the problem. As I have written on many occasions the Australian economy is recalibrating as <a title="Aust dollar drops below 93 cents" href="https://www.businessspectator.com.au/news/2013/6/20/australian-dollar/aust-dollar-holds-below-93-us-cents" target="_blank">Aust dollar drops below 93 cents</a> which then brought about an immediate warning <a title="prices to soar as dollar falls, economists and retailers warn " href="https://www.smh.com.au/business/prices-to-soar-as-dollar-falls-economists-and-retailers-warn-20130620-2okqv" target="_blank">prices to soar as dollar falls, economists and retailers warn </a>the days of cheap overseas travel and attractive online prices are over. Petrol, whitegoods and electronic equipment prices are expected to rise by up to 10%. I’m not sure what this will do for consumer confidence?
<a title="Dollar’s decline sends a clear warning" href="https://www.businessspectator.com.au/article/2013/6/20/economy/dollar%E2%80%99s-decline-sends-clear-warning" target="_blank">Dollar’s decline sends a clear warning</a> – “World markets are warning Australians that the glory days are over and that we must start the painful adjustment process. The good news is that in many diverse areas Australians are showing signs that they are prepared to adapt.” Adapting is the key ingredient as our economy changes although it would come as no surprise if the mining industry experienced a turn-around following the election of a new government.
<img src="/images/stories/2013/06/simeonjune24one.jpg" width="470" height="392" alt="simeonjune24one">
<img src="/images/stories/2013/06/simeonjune24two.jpg" width="470" height="217" alt="simeonjune24two">
 
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<a title="Overvalued, unaffordable property keeping first-home buyers on the sidelines: QBE LMI survey" href="/news" target="_blank">Overvalued, unaffordable property keeping first-home buyers on the sidelines: QBE LMI survey</a>. I must admit I have never been a fan of these grants and I remember an analogy that it is like “throwing lollies onto a highway”. What we are seeing within the property industry is a severe shortage of stock, in Mosman, Cremorne and Neutral Bay there are just 87 houses on the market and 96 apartments. These figures are almost 50% down on previous years and the markets remain in conservative mode although the market up to $2.500 million is very strong.
One of the obvious reasons as to why the property markets have plateaued is that unlike previous years, capital appreciation in property no longer exists. Fundamentally, consumers were all over property simply because prices were constantly increasing where today the markets (houses especially) have been in a reverse swing. This also means that the previous tax-free capital gains in trading property are for the moment a thing of the past.
That’s not to say that it won’t happen again, our property markets are just taking their time adapting to the new market conditions. The positive is that vendors are not panicking, this is obvious when analysing the stock levels which continue to drop – although it should be noted that this is a seasonal transformation.
Source: Australian Property Monitors
MOSMAN – 2088
• Number of houses on the market this time 2012 – 85
• Number of houses on the market last week – 76
• Number of houses on the market this week – 71
• Number of apartments on the market this time 2012 – 89
• Number of apartments on the market last week – 60
• Number of apartments on the market this week – 56
CREMORNE – 2090
• Number of houses on the market this time 2012 – 14
• Number of houses on the market last week – 9
• Number of houses on the market this week – 7
• Number of apartments on the market this time 2012 – 20
• Number of apartments on the market last week – 9
• Number of apartments on the market this week – 7
NEUTRAL BAY – 2089
• Number of houses on the market this time 2012 – 17
• Number of houses on the market last week – 13
• Number of houses on the market this week – 9
• Number of apartments on the market this time 2012 – 50
• Number of apartments on the market last week – 34
• Number of apartments on the market this week – 33
Last week, I predicted a political spill (I was a week ahead of myself) I still believe it will happen during the course of the week.
When we enter the colder months it is the perfect time to roll-out new online platforms and get rid of all the associated bugs before the market heats-up again and the peak selling markets reappear. It is all about adapting to new market conditions and having the latest and best technologies behind your brand; it is definitely the way to go.
Robert Simeon is a director of <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
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Tax-free capital gains in trading property are for the moment a thing of the past: Robert Simeon

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Property investors should:
• Ensure they don’t overlook any of the many expenses that are immediately deductible in the income year of expenditure. These include interest on property loans, repairs and maintenance, insurance and land tax. (See strategy two for our comprehensive checklist.)
• Claim annual deductions over a number of years for the decline in value of removable depreciating assets. (Such items include stoves, blinds, dishwashers, carpets, hot-water systems and air-conditioners.)
• Claim capital works deductions, spread over a number of years, for certain capital expenditure. Capital works deductions are generally claimed for buildings as well as improvements such as adding a bedroom or remodelling a bathroom. (Investors can write-off 2.5 per cent a year of the construction costs for 40 years if construction began after September 15, 1987.)
• Add eligible capital expenditure to a property’s CGT cost base to reduce the CGT eventually payable. Capital expenditure includes the acquisition and disposal costs of a property – such as purchase cost of the property, conveyancing costs, advertising expenses, agent’s commission and stamp duty – and costs of improvement such as renovations. (All capital works deductions already claimed may reduce the cost base when eventually calculating capital gains upon the disposal of the property.)
• It is also possible to claim deductions over a number of years for certain borrowing expenses incurred involving a property loan. These expenses include loan establishment fees, title search fees, costs of preparing and filing mortgage documents, mortgage broker fees and stamp duty on the mortgage. (However, a borrowing expense of $100 or less can be wholly claimed upfront.)
See our 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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mlaurence-vhAHaLZT8y

Understand different types of rental expenses and their tax treatment

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There has been plenty of subject matter on our ageing population and it's clear Australia faces challenges ahead.
Allowing for a few fluctuations - since 1907 to present day, the fertility rate has fallen from around four newborns per woman, to 1.88 (a little above the record low of 1.73 in 2001.)  Significantly, this figure is below ‘replacement level’ which is considered to be 2.1 babies per female.
According to the United Nations, life expectancy in Australia is equal fourth in the world – coming in alongside Switzerland for the same recorded period (2005-2010) – and from most recent ABS data, a man and woman can be expected to live well into their eighties with one in five Australians expected to last into their nineties.
It’s worth noting, the proportion of overseas born Australian residents has also added significantly to our age weighted demographic with a median age - as of 2010 - of 44.7 years – a figure attributed to the large number of migrants who inundated Australia’s shores as post-war ‘boat people’ when the last major call went out to ‘populate or perish.’
The number of older Australians aged 85 years and over has doubled over the past 20 years and is expected to increase as a proportion of the population, to 18% in 2036.
Add to this the stark reality that in 2012, 250,000 Australians reached retirement age with an estimated 5000 reaching the age 65 weekly – and it’s clear Australia’s capacity to fund its population’s needs as the number of working aged individuals decreases, is being severely stretched.
In this respect, when you lift the blanket on unemployment data the trends are concerning and certainly not as good as the headline rate suggests.
Full time job growth is weak and both hours worked along with levels of underutilisation are deteriorating.  As the mining construction boom unwinds, non mining industries underperform, and we pull in our belts with fiscal consolidation, it’s likely we’ll see little change over the months ahead. The short term data is volatile and somewhat unreliable albeit, the long term trend is clear.
In 2009-2010 financial year 26% of the government’s budget was directed towards age related services (health, age related pensions, and aged care) – however, according to treasury projections, this figure’s expected to increase substantially over the next 40 years <a target="_blank" href="https://archive.treasury.gov.au/igr/igr2010/report/pdf/IGR_2010.pdf">“pushing the share of spending to almost half.”</a>
<img src="/images/stories/2013/06/cashmorejune24one.png" width="470" height="310" alt="cashmorejune24one">
As a result, each and every policy decision Australia makes in the years ahead will be – or rather should be – influenced by the necessity to fund an ageing demographic.
For those currently reaching retirement, it’s hoped most will be able to provide for their own needs through a combination of superannuation, working past the age of 65, and tapping into their assets – the biggest of which is housing.
Some will downsize, some will look towards various financial products, such as a reverse equity loan for example – but a majority will have the good fortune of doing so in a house free of debt.
There’s no doubt baby boomers worked as hard as any modern first-time buyer to purchase their principal place of residence.  They made significant sacrifices in a high interest rate environment often working, more than one job to achieve the dream of ownership – and in this respect, it’s never been easy.
However, they were lucky enough to get in at the beginning of the lending boom.
 
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Over the years - financial deregulation, the emergence of duel income households, and the very real realities of our ‘golden decade’ of growth – which essentially gave purchasers a ‘get out of jail free’ card, knowing they could sell into a rising market if the going got tough - provided a layer of protection against loss of equity.
The outer suburbs were some 10km outside of established job and commercial hubs, not the 40km+ we see today – and as the population went through various phases of rapid expansion and different financial products were created, the number of buyers increased and mortgage lenders reaped the benefits.
However, the family home was not the only property acquisition from which this demographic drew benefit.  By 2009-2010 the total value of investment housing owned by our baby boomer generation was 57% – a majority no doubt purchased with the tax advantage of negative gearing.
Baby boomers hold roughly half of Australia’s housing stock – a mix of owner-occupied dwellings and investments.  If Australia was to experience any significant downturn in house prices – or demand, it’s the generations heading toward retirement that would suffer most.
Thus far, population growth has somewhat supported the economy – however, due to woeful planning on both the part of state and federal governments, we’ve evolved into a country gripped to its capital cities which play host to the highest accommodation prices in the country.
Furthermore, our environment has changed considerably.  From an atmosphere where a job was for life and family units were formed early, to a set of differing cultural conditions with fairly fluid fluctuation between periods of ownership and tenancy as buyers and renters migrate through various stages of their ‘employment’ career.
As a result, first-home buyers purchase later in life, marry later in life, start their family later in life, and significantly, tap into their housing equity to fund rising costs of living and lifestyle, earlier in life.
An increasing number of first-home buyers are rummaging into mum and dad’s equity pot - reducing the retirement income stream of the current middle aged populous, and evidently - as census results project - it’s now expected future generations will reach retirement still paying down this principal debt with superannuation used to fund the difference.  Subsequently, the age at which most folk can easily retire, will extend well into the seventies.
It’s all very well making the call to ‘populate or perish’ as some of our industry commentators regularly do however, it is notoriously difficult to predict changes in both natural and migrant fluctuations in growth.
In an excellent study by Jessica Brown and Oliver Hartwich entitled “Modelling Australia’s Demographic Future” it was found that increased migration on its own could not provide a viable solution to our ageing population – significantly, it’s our falling fertility rates that are the biggest cause for concern.
As the paper points out, the current European Union average is 1.5 children per female – and if we were to match it with the downward trend in fertility rates, under the best case scenario (with continued high migration growth) the median age today – currently 37 years - will rise close to 46 years with the number 80 year olds set to reach around 2 million by 2050.
Furthermore, as mining investment scales down – unless there’s a considerable uptick in other areas of our economy – a scenario which is looking increasingly dire as manufacturing struggles and job losses continue to filter in from in various regions, it’s highly likely we’ll see a drop in net migration which will exacerbate the problem.
 
<hr class="system-pagebreak">
All in all – is it doesn’t matter what we do – whether we throw open our boarders (unlikely under current political opinion) or take a sustainable ‘steady as she goes’ rhetoric – which in essence means little, because even with a strict migration policy and a further fall in the birth rate, Australia’s population would still lead to over 29 million bodies by 2050 – we’re heading toward an ageing tsunami.
Evidently, this presents significant challenges.  In years when house prices were booming, it followed that the level of consumer spending increased and credit growth was strong.
In a study by Australian Housing and Urban Research institute in 2007 (the height of the boom) it was found for every $100,000 increase in housing wealth, there was a bounce back in consumer consumption of $1000 to $1500 per annum.
It was all going swimmingly whilst the market remained rampant.  However, following the backdrop of GFC, households are saving more – spending less – and a marked proportion of those who purchased at the ‘peak’ of 2010 remain in negative equity.  As it stands, national turnover of sales remains weak.
The reducing number of first home buyers as a percentage of the buying market is significant.  As noted from a recent <a target="_blank" href="/news">QBE LMI survey</a> – and certainly shared by my own anecdotal evidence – first home buyers perceive prices ‘too high.’ Their budget is typically around $300,000 which will barely purchase a one bedroom inner city apartment in either Sydney or Melbourne, and is less than the average ‘new’ house price on the fringe ($400,000.) 
They also recognise they will need to hold their properties for a longer period of time to advantage from an increase in equity. In other words – it will take longer, before an ‘upgrade’ is possible.
For those looking to downsize, the challenges are also evident.  Retirees don’t generally look at the apartment market when <a target="_blank" href="https://www.propertyobserver.com.au/residential/there-s-little-evidence-to-suggest-a-downsizing-rush-catherine-cashmore/2013041460355">downsizing</a>. Evidence shows most preference low maintenance single level, independent units, close to transport, shops, doctors and hospitals, ideally with space enough to hold the lifetime’s worth of accumulated memories.
However, the majority stock currently being developed consists of high density ‘squeeze as many on the block as possible’ apartments, double story townhouses – or new house and land packages – hence why the tendency to remain in their principal place of residence is strong.
It’s clear the property needs of home buyers must be addressed by urban planners if we’re to free up the market stagnation which will increasingly affect city dwellers as the population expands.
Adequately funding infrastructure for our fringe suburbs to boost the construction sector as well as reducing hefty development overlays which are passed onto the buyer, addressing policies to constrain investor and foreign acquisition into the established sector which does little to increase supply, not to mention the recent trend of land banking vacant blocks which could be subdivided into homes ideally suited to both the downsizer and young family buying demographic - all need addressing.
But the bottom line remains that politicians are not going to be able to control the inevitable - in the future the dependency ratio (the relationship between the working age and non working age) is projected to be roughly 60% – therefore we need to foster improvements to workforce participation if we stand any chance of offsetting this imbalance.
Demands on the taxpayer will be immense, and with one in seven Australians a property investor, and one in ten, negatively geared it remains a key drain on revenue.
It won’t be politically popular, but this – along with other poor tax strategies – should be reviewed if we’re to survive the inevitable.
All in all – we’re playing ‘catch up’ as we head toward our ageing headwind.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
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Ageing population poses serious challenges to Australia's future economy: Catherine Cashmore

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Architect Andrew Verri of Jigsaw Housing has won the ACT Emerging Architect Prize at the Australian Institute of Architects’ 2013 ACT Architecture Awards.
The awards were held on Saturday night at the National Arboretum in Canberra.
<img alt="verrijune24one" src="/images/stories/2013/06/verrijune24one.jpg" width="370" height="553">
"Andrew’s commitment to smaller, smarter, sustainable homes is providing significant leadership within the architectural profession and the residential construction industry more broadly," the jury said.

Verri has been an active member of the Australian Institute of Architects for over 10 years, serving on its sustainability and practice committees.
Jigsaw Housing was established three years ago and also won the Clean Green Category and Business of the Year in the Canberra Business Point Awards last year.
His company also won the award for Environmental Innovation at the 2012 Sustainable Cities Awards and was voted in the Top 50 Your Future Home Sustainable Building Leaders 2012 by the general public.
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Jigsaw Housing's Andrew Verri wins emerging architect prize at 2013 ACT Architecture Awards

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A 11% dip in residential building construction is anticipated in Geelong over the next 12 months, the key regional Victorian centre hit by a spate of recent business closures and planned closures.
Researchers BIS Shrapnel forecast a 11% fall in dwelling commencements in Geelong in 2013/14 with construction of 2,333 new house and apartments to begin over this period.
This compares with 2,627 dwelling commencements over 2012/13.
This ranks Geelong as the 13th most contractionary new housing market over the next 12 months in Australia.
The drop in new dwelling commencements signals a likely contraction in the local Geelong residential building sector at a time when they may be reduced demand for new homes given recent company announcements.
Earlier this week retailer Target confirmed that 200 jobs would be cut from its Geelong headquarters.
It follows Ford Australia’s announcement last month that it would close its <a href="https://www.propertyobserver.com.au/victoria/first-ansett-collapse-now-ford-plant-closure-threatens-broadmeadows-property-market-ford-fordaustralia/2013052361599" target="_blank">Geelong production plant in 2016</a> with the loss of around 500 jobs.
There is also uncertainty around the future of workers at Shell’s Geelong refinery. The enterprise employs around 450 people as well as contractors.
A further 500 jobs are at risk at Alcoa's unprofitable Point Henry aluminium smelter with the American-owned enterprise considering cuts worldwide. Alcoa had planned to shut the smelter down last year before receiving a $40 million bail out from the Victorian and Federal governments.
The potential loss of more than 2,00 jobs (more when contractors and affiliated employment are factored in) has been tempered by news that Geelong has been chosen as the headquarters of the new DisabilityCare agency for the National Disability Insurance Scheme (NDIS), which will employ around 300 people plus another 150 in the regional office.
State and federal government initiatives have also been announced to assist the Geelong economy.
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New dwelling starts to fall 11% in Geelong: BIS Shrapnel

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Far too much commentary about the residential property these days focuses on price.  Very little is actually said about sales.  When I first started in this game, sales volumes, and especially sales by price range or group, were far more important than median or average prices.
And for mine, nothing much has changed over the last 25 years in terms of what really matters when it comes to measuring a real estate market’s health – and that is, how many sales take place; in what direction are they heading and is there enough <a href="https://matusikmissive.com.au/2013/06/05/what-makes-a-good-investment-2/" target="_blank">market depth</a> i.e. sales volumes when it comes time for me to sell?
Recent data releases by both RP Data (in their Quarterly Review) and by the REIQ (via their Queensland Market Monitor) provide some information about sales volumes.  But most of the conversation is about changing median values, which as I have discussed <a href="https://matusikmissive.com.au/2012/11/28/murarrie/" target="_blank">here</a> and <a href="https://matusikmissive.com.au/2009/09/23/medians-muddy-the-water/" target="_blank">here</a>, more often than not means very little at all.  It shows what sold rather than improvement or otherwise.
To the REIQ’s credit, they dedicate a lot more space to discussing sales volumes than most other recent reports.  I trust this remains the case as the QMM is about to undergo a facelift.  Here’s hoping that the content remains the same.
Importantly, a market’s position can be determined (in part) by sales volume trends.  A recovering market has, among other indicators, improving sales volumes.  A market in upswing has ‘fast’ sales; a downturn market has flat or slightly falling sales volumes and a market in decline/trough has declining sales.
Sales volumes are a great bellwether when it comes to future direction of prices and a market’s characteristics i.e. changing from a buyer’s market to a seller’s market for example.
So what is happening to sales volumes across the country and in the nation’s capitals?
According to RP Data, there were 400,000 house and attached dwelling sales across Australia over the last 12 months.  Overall sales volumes have increased 2 % on the year before.  Yet sales volumes are 11 % lower than the five year average.
When it comes to new property sales, nationally, and according to the HIA, there were 64,000 new house and apartment sales over the last 12 months, which is 13% down on the year before and a massive 28% less than the five year average.  This is why – among other much needed legislative and tax-related changes to new housing – interest rates need to continue falling.
Interestingly, sales volumes (78,000 house and attached dwelling sales) are declining in Sydney – says RPData – with volumes 9% lower than the year before. Volumes are down 12% on the five year average.
The other capitals are as follows:
Melbourne: 72,000 sales; down 1% on last year; down 16% on last five year average.
Brisbane: 39,000 sales; up 10% on last year; down 14% on past five years.
Adelaide: 20,000 sales; little change on last year and also down 14% on last five years.
Perth: 40,000 sales; up 26% on last year; up 11% on past five years.
Hobart: 3,700 sales; now 3% down on last year; down 19% on past five years.
Darwin: 3,000 sales; up 22% on last year and up 2% on past five years.
Canberra: 8,000 sales; down 6% on last year; down 14% on last five years.
This shows me several things:
Firstly, how small some markets actually are – Darwin, Hobart and Canberra spring immediately to mind.  The Sydney market, for example, is 26 times larger than Darwin.
Secondly, it would appear that Brisbane has entered a recovery.  It is a bit more ‘stop-start’ than many of us would like.
Adelaide seems to be stuck in a trough.  Perth and Darwin are well into their upswings; and despite some recent commentary to the contrary, Melbourne and Canberra appear to have peaked.
Thirdly, I don’t know what to make of Sydney’s sales decline.  Maybe RPData’s data is wrong?  Maybe not.  All other indicators suggest that Sydney is in a relatively strong recovery.  The theory is that declining sales volumes mean a slowing market, but life is often far more complex.  In this case, given the weight of other more positive evidence – such as rising clearance rates; fewer properties for sale; a drop in the time it takes to sell and declining private treaty discounting – I will bench Sydney’s sales results as an anomaly, until further evidence surfaces.  But, again, sales volumes are a good bellwether, so I will be watching the Sydney market a little more closely in coming months.
Having now somewhat shot myself in the foot, much more time and energy needs to be spent discussing actual sales volumes.  These are best discussed on an annualised basis and where possible, by product type.
All buyers should also want to know about how many sales actually take place around the price they paid for their property.  For example, if I bought a $425,000 apartment, I would want to know how many sales took place between $400,000 and $500,000 within the local area on average over the past couple of years.
I would also be interested if that market size had increased in recent years, so that I could estimate the resale market’s depth when it comes time to resell in the future.
Investors, especially, should pay little or no attention to median or average prices.  It’s sales volumes that are really important.  All investors need to start with the end in mind – an exit strategy if you will – and the important questions are, “Will someone buy this off me in the future?” and “How many buyers are there?”  This then provides insight as to the time needed to resell and at what price.
Michael Matusik is the founder of <a style="font-size: 14px;" href="https://www.matusik.com.au/" rel="nofollow">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read<a style="font-size: 14px;" href="https://www.matusikmissive.com.au/" rel="nofollow">Michael’s Blog</a> or follow him on <a style="font-size: 14px;" href="https://www.facebook.com/ThinkMatusik?fref=ts" rel="nofollow">Facebook</a> and <a style="font-size: 14px;" href="https://www.twitter.com/michaelmatusik" rel="nofollow" target="_blank">Twitter</a> or connect via<a style="font-size: 14px;" href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a> 
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michaelmatusik-49YzLvdmNv

Residential property commentary needs to focus on sales volumes as well as prices: Michael Matusik

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Focusing on the height of a new development has become somewhat of a sport in Melbourne of late. Yesterday was no exception with the Associate Editor of The Age Shane Green writing a column titled <a href="http://www.theage.com.au/comment/highrise-utopia-or-another-pieinthesky-pipe-dream-20130621-2oo4s">High-rise utopia or another pie-in-the-sky pipe dream?</a>

In it, Green states "The real risk he [Planning Minister Matthew Guy] faces is that this [Fishermans Bend] will be another Docklands - our last big urban renewal idea that was so poorly executed that it has become a case study in what not to do, and a byword for unmet potential". Notwithstanding the organisation Green works for has been every much a part of the real problem with Docklands (Fairfax's Media House like many other new Docklands / CBD fringe offices - we call them groundscrapers - consume more land than an office skyscraper in an attempt to flatten organisational hierarchies yet these buildings occupy prime sites which are for the most part inactive outside of normal business hours), the comparison of the supposed non-success of Docklands and his main point "there are early signs it will be a place where high-rise is king, in keeping with the government's love affair of all things tall in the rest of Melbourne" is dubious at best.

I know Apartments.com.au has only been live since March, but like the comment I made at the time in response to the op-ed written by ABC producer Daniel Ziffer and published in The Age a few weeks ago (<a href="/expert-insights/buying/melbournes-future-a-sip-of-tsim-sha-tsui-and-a-gulp-of-brooklyn">my response</a>, <a href="/news/caroline-springs-in-the-sky#content">response by Nick Harrison</a>), I'd like to point out Green's statement "in keeping with the government's love affair of all things tall in the rest of Melbourne" can be negated by spending just a few short minutes on our <a href="/developments">project database</a>. The "rest of Melbourne" has a very healthy mix (in built-form, use and height) of urban developments proposed, before planning authorities (local and state), at sales or under construction.

<h2>Human scale means different things to different people</h2>

Green needs to define what "human scale" means to him and what exactly his definition of a high-rise is otherwise the debate about our future development is going to be muddled in a large cacophony of hurbis. Quoting trusty (tongue-in-cheek intended) old <a href="https://en.wikipedia.org/wiki/Human_scale#Human_scale_in_architecture">Wikipedia</a>:

<blockquote>
Humans also interact with their environments based on their sensory capabilities. The fields of human perception systems, like perceptual psychology and cognitive psychology, are not exact sciences, because human information processing is not a purely physical act, and because perception is affected by cultural factors, personal preferences, experiences, and expectations. So human scale in architecture can also describe buildings with sightlines, acoustic properties, task lighting, ambient lighting, and spatial grammar that fit well with human senses. However, one important caveat is that human perceptions are always going to be less predictable and less measurable than physical dimensions.
<cite><a href="https://en.wikipedia.org/wiki/Human_scale#Human_scale_in_architecture">Wikipedia: Human scale</a></cite>
</blockquote>

Focusing on the cultural factors, personal preferences, experiences and expectations part of the quote above - we have a problem in Melbourne with regards to our shift toward a higher-density future. Like many Anglosphere cities, we are overwhelmingly suburban and we've had at least 3 generations of people growing up with cars as their primary mode of transport. "Human Scale" to many of the good burghers of Melbourne will mean the single family dwelling on its own land title with distant retail, employment and social destinations. If we only frame the future urban development debate around this mindset we are going to shoot ourselves in the foot.

Further quoting the same Wikipedia page:

<blockquote>
Human scale in architecture is deliberately violated for monumental effect. Buildings, statues, and memorials are constructed in a scale larger than life as a social/cultural signal that the subject matter is also larger than life.
<cite><a href="https://en.wikipedia.org/wiki/Human_scale#Human_scale_in_architecture">Wikipedia: Human scale</a></cite>
</blockquote>

In 1889, the <a href="http://www.walkingmelbourne.com/building3_apa-building-the-australian-building">APA Building</a> was completed and with its completion a title of being one of the world's tallest skyscrapers at the time. Can you imagine what Melburnians thought back then? A new 12 level building towering over everything else when the majority of the Hoddle Grid was in the 4-5 level range? The gall of it all, stop the press we have a crisis on our hands! Fast forward more than a century, design, construction and overall engineering capability has evolved to allow us create buildings such as Eureka and Rialto and with it, theoretically, our sense of what human scale means. These two towers are the leaders of the pack, they are not the norm and we shouldn't expect Fishermans Bend to be entirely comprised of buildings in this height range.

<h2>A modern story of progress, focusing on where all humans interact: the street</h2>

Back on the 2nd of April we reported on a planning application which depicts 3 high-rises sitting atop an active podium which would be completely out of place in the adjacent Southbank precinct. Why? Because the architect has taken a leaf out of the City of Port Phillip Montague structure plan and incorporated the design principles for streets and public areas. It's hard not to have high hopes for the wider precinct when <a href="/news/planning-application-123-125-montague-st-south-melbourne">123-125 Montague Street</a> has a strong focus on providing non-residential spaces to an area which is currently semi-industrial - new residents in the podium and towers above and the wider precinct, as it is developed, will benefit immensely from the mooted supermarket space and 16 other retail spaces at ground level.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2s9t1et.jpg" rel="gallery-all" title="Ground landscape plan with ground floor uses © Peddle Thorp architects"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/2s9t1et.jpg?itok=cOzCIMZx" title="Ground landscape plan with ground floor uses © Peddle Thorp architects" typeof="Image"></a>

<figcaption>Ground landscape plan with ground floor uses © Peddle Thorp architects</figcaption></figure>Peddle Thorp have also incorporated a public laneway - attempted in Docklands, unheard of in Southbank - right through the middle of the site which can conceivably be the start of a network throughout other sites to the north and south.

The podiums have engaging facades which will wrap around the entire site allowing the car parks located behind them internally to be "out of sight, out of mind" (as they should be) - this concept is not new and has been deployed in many new developments in Docklands and Southbank.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2s9t1et.jpg" rel="gallery-all" title="Engaging podium facade and calm street - exactly what we want for Fishermans Bend © Peddle Thorp architects"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/Image4.jpg" style="height: 429px; width: 702px;" title="Engaging podium facade and calm street - exactly what we want for Fishermans Bend © Peddle Thorp architects"></a>

<figcaption>Engaging podium facade and calm street - exactly what we want for Fishermans Bend © Peddle Thorp architects</figcaption></figure>Here's the current view looking East along Thistlethwaite Street

<iframe frameborder="0" height="400" marginheight="0" marginwidth="0" scrolling="no" src="https://maps.google.com.au/maps?f=q&amp;source=embed&amp;hl=en&amp;geocode=&amp;q=Montague+Street,+South+Melbourne,+Victoria&amp;aq=0&amp;oq=Montague+Street&amp;sll=-37.860283,145.079616&amp;sspn=1.875722,4.22699&amp;ie=UTF8&amp;hq=&amp;hnear=Montague+St,+South+Melbourne+Victoria+3205&amp;t=m&amp;layer=c&amp;cbll=-37.831717,144.951339&amp;panoid=4l6jSwe6j5WW0l5bO4LxUQ&amp;cbp=13,55.19,,0,-0.35&amp;ll=-37.839479,144.951382&amp;spn=0.027113,0.06094&amp;z=14&amp;output=svembed" width="702"></iframe>

<a href="https://maps.google.com.au/maps?f=q&amp;source=embed&amp;hl=en&amp;geocode=&amp;q=Montague+Street,+South+Melbourne,+Victoria&amp;aq=0&amp;oq=Montague+Street&amp;sll=-37.860283,145.079616&amp;sspn=1.875722,4.22699&amp;ie=UTF8&amp;hq=&amp;hnear=Montague+St,+South+Melbourne+Victoria+3205&amp;t=m&amp;layer=c&amp;cbll=-37.831717,144.951339&amp;panoid=4l6jSwe6j5WW0l5bO4LxUQ&amp;cbp=13,55.19,,0,-0.35&amp;ll=-37.839479,144.951382&amp;spn=0.027113,0.06094&amp;z=14">View Larger Map</a>

And this, straight from the planning application, is what Peddle Thorp have put forward for Thistlethwaite Street of the future, noting:

<ul>
<li>the strong emphasis on providing places for people to sit and converse with each other - you can't do that on City Road or Queensbridge Street.</li>
	<li>the significant reduction in space available for vehicular traffic which will calm the street even after new residents move in allowing dedicated bike lanes and urban greenery to become a signature piece of the street - you won't find that in Southbank when you step back from the Yarra promenade.</li>
</ul>
<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2s9t1et.jpg" rel="gallery-all" title="Proposed Thistlethwaite Street cross-section © Peddle Thorp architects"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/Image15.jpg" style="width: 702px; height: 353px;" title="Proposed Thistlethwaite Street cross-section © Peddle Thorp architects"></a>

<figcaption>Proposed Thistlethwaite Street cross-section © Peddle Thorp architects</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/2s9t1et.jpg" rel="gallery-all" title="Thistlethwaite Street - Peddle Thorp's vision © Peddle Thorp architects"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/Image1_0.jpg" style="width: 702px; height: 431px;" title="Thistlethwaite Street - Peddle Thorp's vision © Peddle Thorp architects"></a>

<figcaption>Thistlethwaite Street - Peddle Thorp's vision © Peddle Thorp architects</figcaption></figure>Here's the issue: Shane Green was oversimplifying what expanding the Capital City Zone means when he stated "the minister will be responsible for approving plans for projects over a certain size - high-rises". You will note I have intentionally left out the renders of the towers associated with this proposal (you can view them in the <a href="/news/planning-application-123-125-montague-st-south-melbourne">original article</a>) for the simple purpose of highlighting: attractive, calm, urban streets and high-rises are not mutually exclusive. High-rises are very much a part of the solution for housing a growing population in appropriate areas - and I can't think of a more appropriate area than blank canvas Fishermans Bend - because at the end of the day, if you get the most important aspect of redevelopment right - the public realm - its attractiveness will lure people regardless of the usual negative connotations associated with high-rises: some overshadowing at certain times of the day and wind tunnel creation.

Just look at Queensbridge Square and Freshwater Place, an area prone to large wind gusts created by the towers behind and the East End of Collins Street which is perpetually in shadow throughout the day - both hyper-density precincts with a lot of localised activity owing to the attractive public realm created over the years.

The recently released <a href="/news/gazing-into-the-fishermans-bend-transport-crystal-ball">PTV plan</a> shows a rail line entering Fishermans Bend linking it with the CBD and the rest of the rail network which in turn will support residential and employment densities in the redevelopment zone well beyond the 200 people per hectare figure Green states in his comment piece. I believe the State Government was right to expand the Capital City Zone to Fishermans Bend with one caveat, and mentioned by The Age's Associate Editor, the structure plan should force all new development in the Fishermans Bend zone to have a strong public realm emphasis like 123-125 Montague Street does, and developers should be free to incorporate a diversity heights in their developments, excluding transition areas.

We should never aim to plan ourselves into a restrictive corner - we must resist the temptation to oversimplify what's actually happening and we must also not restrict architectural diversity via arbitrary height limits in areas which scream for more diversity - as they say in the financial world and how 123-125 Montague Street superbly illustrates: past performance is not necessarily an indicator for the future.
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Alastair Taylor

High-rises can work with the public realm

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Despite hesitant buyer pre-auction manoeuvring, the injured Wests Tigers champion Braith Anasta and his actor wife Jodi Gordon secured $1,855,000 when their four-bedroom, two-bathroom Clovelly home went to weekend auction.

Initially <a target="_blank" href="https://www.propertyobserver.com.au/news/braith-anasta-and-jodi-gordon-list-clovelly-home-weststigers/2013060261856">more than $1.8 million </a>was being suggested for the two-storey semi, but the agents then adjusted their marketing to $1.7 million plus.
Agents hoped the lowering of the price guide would introduce stronger competition in the lead-up to the auction.
It was bought for $1,805,000 in 2011 by Anasta, so the sale price represents a loss after expenses including $84,000 purchase stamp duty.
It had sold previously at $1.76 million in 2009.
RP Data gives Clovelly's median house price as $1.365 million, down 9.8% over the past year.
Its down 3.8% over the past five years, according to RP Data.
Its purchase by Anaasta was funded when the then Sydney Roosters captain sold a Malabar investment property for $1.32 million in early 2011.
It sold through his estate agent brother Damon Anasta at McGrath Coogee inconjunction with his colleague, Mark McPherson.
Its initial price hopes were based on a Winchester Road semi that sold recently at $1.85 million.
<a target="_blank" href="/news">The average discounting required of private treaty vendors is typically around 10% to secure a sale</a>.
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