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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I’ve been interested in the commentary about the Aussie dollar’s loss of value against the US dollar.
At the start of May, one Australian dollar could buy $1.05 American; this week it was down to buying US.93¢.
The portents have all seemed grim, but what does the Australian dollar actually mean?
For a starters, the relative value of our currency is not always a bellwether on how we are doing as a nation.
In June 1998, Australia’s economy was growing at 3.9% and John Howard called us the 'strongman' of Asia, yet the Aussie dollar could only buy US.58¢.
In mid-June 2006, the Aussie dollar traded at US.73¢ during a time when the government had surpluses, unemployment was low and we had an equities boom.
What lifted the value of Australian dollar above US$1.00 from late 2010 to May of this year was our trade performance relative to the US economy: resources were being exported in large quantities and at high prices at a time when the US economy was flat.
For most readers this phase meant significant purchasing power when traveling overseas and very good terms from online American retailers.
But life isn’t all about cheap holidays and cut-price Nikons. Our manufacturing sector suffered under a high dollar because it was cheaper for Australians to source goods overseas, while local companies found it hard to export because the exchange rate favourable to Australia made the goods expensive for the importing nations.
Over the past two years we saw a ‘two speed’ economy, where resource exporters could thrive regardless of the high Aussie dollar because what they were exporting was in high demand, while local manufacturers went backwards.
Our domestic energy consumption has flattened due in part to manufacturers operating at under-capacity or going out of business during this phase.
Now that the Aussie dollar is buying less than one American dollar perhaps we should remind ourselves why it is not so bad for our local manufacturing, hospitality and tourism.
With a weakening dollar, Australia looks like a reasonably-priced destination for international tourists and a place where Aussies will holiday rather than going overseas. This also gives the tourism ancillaries – cafes, pubs, restaurants and accommodation – a boost.
These industries are not to be trifled with: the services economy is larger than mining, contributing to around 70% of our GDP and about 75% of employment.
And with the Aussie dollar not so high, Australian manufacturers – many of whom operate at a quality and price premium compared to Asian competition – can find opportunities again where the high dollar is not a hindrance.
There is an argument that the resources boom was actually a market distortion, and that a strong dollar and repressed manufacturing was the price to pay.
Now that the resources boom is passing, perhaps the accompanying lower Aussie dollar is better for a much larger slice of the economy than the high dollar was aiding.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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mbouris-tauSvXGAM2

A lower Aussie dollar isn't all bad news: Mark Bouris

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Once again, Melbourne is producing ‘healthy’ results with the clearance rate now residing at 70% for the year to date (up from 68% in April) and the latest REIV house price index posting a 1.4% increase for the month of May.
According to the REIV, this is the eighth consecutive month of house price increases, with unit prices also showing a moderate boost - up 0.9% for the month – which is the third consecutive monthly rise.
Not surprisingly, the biggest gains have been recorded in the inner and middle regions of the city – principally, the ‘auction-dominated’ terrains – with the outer suburbs remaining stable.
Most sales in Melbourne are conducted private treaty with a rough 80/20 percentage split – 80% being private sales and 20% for sale by auction and although as a percentage of total sales, the share of auction transactions is down on this time last year, in raw numbers we are marginally ahead. When I last checked, year to date there have been approximately 11,719 auctions, compared to 10,742 for the same time in 2012.
When confidence improves and auction results start to ‘openly’ surpass their reserve, the number of vendors opting to sell using this method increases. As reported by the REIV - by the end of June approximately 3,175 auctions will have been held. Only once in the past decade (2010) have there been more auctions in June, and in the inner and middle ring suburbs there is no perceptible sign of the market weakening, if anything the reverse is occurring.
Evidently, the majority of auctions I watch are selling under the hammer. However, it should be noted I filter the auctions I attend, concentrating primarily on listings which attract a wider buying market due to location and type - albeit, in some instances, those sales are exceeding reserve by as much as 10%, and on occasion more.  As we’ve seen previously, this cannot be sustained over the longer term.
It’s not quite the rampant atmosphere experienced in 2007 during which the ‘lending frenzy’ leading up to the GFC was pushing excessive amounts of easy credit into the market. Prices are still well below their peak and results patchy.
Albeit, whilst the aggregated data shows only moderate gains, in areas where auction sales predominate (such as Bentleigh, Hawthorn, Glen Iris for example) a number of economic and social factors have combined to push it well and truly into a sellers' domain.
The somewhat robust turnaround has produced a point of confusion in recent media articles.  Confidence is still waxing and waning, with the Westpac-Melbourne Institute Index down 7% in May to 97.6 – below the ‘critical’ 100 point bench mark - and although a bounce back in June was welcomed, we’re still on a rough equal split between those who think the cup is half full, or empty.
Also, news of job losses have been filtering in over the past few months, initially from Ford and Holden and most recently Target – not to mention some of Victoria’s fruit growing regions following cutbacks by SPC Ardmona.  All of this will produce a drag on Victoria’s employment data over the months to come, with unemployment currently sitting at around 5.6% (in trend terms.)
The recent drop in the cash rate, provided buyers will a little more spending power, however the 70% year to date clearance rate with overall turnover increasing and prices swinging past the reserve, is more to do with the effect public auctions have on buyer confidence than anything else.
 
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I have written about the chain reaction this method of sale has on the market as a whole previously. The last time we had an auction rally was back in 2010 during which clearance rates were in the 80s.  I’m still coming across buyers who, to date, having bought at ‘peak’ under competition, three years later, cannot sell for purchase price.
In other words, regardless of low interest rates and ‘improved affordability’, their property sits in negative equity with new data from Melbourne Institute’s federally-funded Household, Income and Labour Dynamics in Australia survey backing it up. It shows one in every 40 families with a mortgage in 2010 owed the bank more than their home was worth, with senior economist Shane Garrett commenting that negative equity rates were likely to be the same now as in 2010.
Is it ever OK to say it’s not a good time to buy? Quite clearly, yes!
The physiological impact when bidding against competition for an emotional asset has been well documented - and when confidence improves, this method of sale does result in higher prices – prices which would be extremely difficult to negotiate in a private sale scenario during which there would be no undisputed evidence to the leading buyer that a competitor is willing to pay more.
Not unlike sports gambling, a well-staged auction actively encourages buyers to lose a sense of considered rationality, with a trained auctioneer pushing the ‘players’ to stretch their budgets past their pre-established limit, which when combined with a strong desire to 'win' at all costs, can result in a potentially dangerous set of circumstances.
Without adequate knowledge of where we started, taking full advantage of sales data for the duration of the ‘to-date’ 12-month time span, the possibility of overpaying on the back of a short term auction ‘rally’ is ever prevalent and the resulting rise in vendor’s expectation as they see neighbouring properties sell at a higher price, is not quickly corrected.
Furthermore, in some of these key regions stock is dropping – particularity good stock – which is fairly typical of a rising market.  After all, who wants to sell when the perception remains that a vendor can get more if they hold and wait for further gains? Especially as additional rate cuts are still widely anticipated.
Therefore, considering the clear reality that the market shows no current sign of weakening, it’s somewhat of a surprise to find RP Data’s daily index for the month of May posting a -4.4% drop in Melbourne unit prices whilst at the same time, there has been a 3.7% rise in house prices for the same period. Overall, RP Data’s recorded monthly drop for Melbourne is -2.1% and in light of the information above, it should be questioned.
It’s not the only surprise to be found in RP Data’s monthly index. Take Canberra for example – according to RP Data, dwellings were up 3.8% for the March quarter – yet just two months in to the second quarter they have dropped by -1.5%.
Hobart’s unit market has all but ‘crashed’ with prices -8.5% – whilst on the other hand; the housing market has posted a rather ‘healthy’ rise of 3.4%.
 
<hr class="system-pagebreak">
Overall, the combined capital city index declined 1.2% over the month of May after falling by 0.5% in April.  In other words, we’re on a downward slope with Rismark’s CEO Ben Skilbeck commenting that it could be “driven by vendors reducing their initial expectations in order to meet buyer offers.”
However, to come to this conclusion, you need to do more than simply theorise on the results as they’re set out on a spreadsheet.
I’ve had the advantage of negotiating with vendor’s over the past six months, and can quite confidently confirm, there has been no such decline in expectation – unless the property is compromised by location or interior design, most are enjoying a relative windfall in relation to last year’s expectations. And according to <a href="https://www.sqmresearch.com.au/graph_median_weeks.php?region=vic%3A%3AMelbourne&amp;type=c&amp;t=1" target="_blank">SQM’s weekly “vendor sentiment index,”</a> asking prices are – if anything – trending upwards which once again suggests there is demand in the market currently meeting expectation.
I’ve cautioned previously about this short term approach to statistics and I’m by no means alone in doing so. There has been plenty of criticism aimed at RP Data’s daily index for the apparent ‘mis match’ with other market indicators.
It seems the general consensus of opinion revolves around ‘lagging’ results which are collected and shuffled into the index at a later date.  This would make sense in light of the strong gains that were posted in the first quarter, but not immediately evident ‘on the ground’ – and it should be remembered that the ‘daily index’ is not seasonally adjusted, so data can be ‘noisy.’
RP Data have recently claimed they <a href="https://news.domain.com.au/domain/real-estate-news/are-house-prices-rising-or-falling-20130603-2nlqd" target="_blank">“ring up agents</a>” to get information of private sales, which would be a mammoth task considering most agents are highly unlikely to prioritise the reporting of private treaty sales information as soon as a contract is signed – if at all.  And yet this is what the accuracy of daily index relies upon – prompt agent reporting.  Without it, the results lag until the official ‘settled’ sales data filters through from the government (some three months ‘plus’ later.)
With this in mind, the degree of concentration given over to the index should be questioned.  Furthermore, until missing results have been collected, correlated and adjusted for seasonal distortions, it’s clearly not a reliable or timely indicator.
However, it’s fair to suggest the underlying fundamentals of our “to date” ‘market recovery’ are at best - weak. Credit growth has been hobbling along (in part due to the trend to ‘pay down’ debt) and although ABS April data shows the highest monthly uptake of home loans since November 2009, Westpac best summed it up best when they suggested the gains to be ‘underwhelming,’ commenting on the 0.7% decline (excluding refinancing) for owner occupiers, albeit year to date, they are up 11.4% (not a great result in light of the current low interest rate environment.)
Data from the Department of Sustainability &amp; Environment shows more mortgages in Victoria are being discharged than lodged and turnover – although moderately up with <a target="_blank" href="https://www.macrobusiness.com.au/2013/06/vic-transfers-mortgage-demand-still-depressed/">168,029 transfers taking place in the year to May 2013, up from the record low 167,200 transfers in the year to March 2013</a> –remains 13% below the decade average.
So what’s the fuel pushing both clearance rates and prices past reserve? Well – in a word (or two) – primarily speculation and a rush to invest anywhere that provides a greater return than stashing cash in a long term deposit account.
It’s clear, investors remain the most active demographic, with the value of investor finance commitments up by 1% in April, and 18% over the year - the highest level since January 2008, which would have a beneficial roll over effect for those relying on sales to ‘upgrade’ (which it should be noted, increases spending power without the need to increase borrowing levels.)
In a recent survey conducted by Mortgage Choice of a sample 1000 mortgage holders, 83% (roughly four out of five) voiced consideration to use the equity in their principle place of residence to purchase an investment property – the trend is strong.
With this in mind, you have to wonder how long the current ‘recovery’ in Melbourne (and for that matter some of our other states) will last – especially as questions of oversupply still hang on the horizon. Or perhaps Steve Keen best summed it up when he termed it a ‘suckers' rally?’
All in all let’s face it, as it stands, the market is imbalanced, with a proportionally lower percentage of first-home buyers, a desperate bid from investors for advantage from short term gains, and a construction industry calling out - somewhat desperately - for another rate cut.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
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catherinecashmore-6LXia3pPQj

Despite recent signs of recovery the Melbourne property market remains imbalanced: Catherine Cashmore

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A seven-bedroom Eastwood house sold on the weekend for $1,695,000.
The 25 Denistone Road house (pictured below) had been listed with $1.5 million-plus hopes.
{yoogallery src=[images/stories/2013/06/june17eastwood]}
It was completed by an owner builder over the past two years.
Its McGrath selling agent Wayne Vaughan marketed <a href="https://www.mcgrath.com.au/buy/house-eastwood-nsw-2122/138103/?searchID=28746230" target="_blank">it as offering a contemporary abode of 55 squares on a 1,088 square metre block in walking distance to the Eastwood centre</a>.
There was competitive bidding for the home from families seeking multi-generational abodes.
It sold to a young couple of Chinese descent  with two young children. They also have family coming to live with them utilising the downstairs  area at the front of the home.
Another seven-bedroom house to sell recently was at Saratoga. The 105 Steyne Road house - with views over Brisbane Water from its deep waterfront holding - fetched $1,775,000 last week also through McGrath Central Coast agent Mat Steinwede.
He described it as a three level house with impressive outdoor leisure areas. The seven bedrooms included "massive main with spa ensuite and deck." There was also five modern bathrooms, a large home theatre and games room. The 743 square metre block cost $360,000 in 2007.
Arlington, a seven bedroom Galston house sold recently. The 36 Crosslands Road house (pictured below) sits on five acres.
{yoogallery src=[images/stories/2013/06/june17galston]}
There was a <a href="https://www.realestate.com.au/property-house-nsw-bella+vista-113475551" target="_blank">six bedroom Bella Vista house </a>also recently sold through Starr Partners Bella Vista for $1,135,000. The 85 Edgewater Drive house, which was built in 2005 after the block cost $530,000, also comes with a study. There were four fully tiled bathrooms. The master bedroom had a walk in wardrobe and en-suite and three bedrooms came with en-suite and walk in wardrobe.
{yoogallery src=[images/stories/2013/06/june17bellavista]}
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jchancellor-FAypfDUnLy

Seven-bedroom Eastwood home sale proves desire for multi-generational Sydney family homes

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The Toorak property, 16 St Georges Road is one of Melbourne’s most significant homes.
It sits on just about an acre, the home of LU Simon building company director Peter Devitt and his wife Jo and their family for many years.
It is being marketed internationally via a website and a <a href="https://www.16stgeorges.com/" target="_blank">short film</a> with a sound track called Beautiful Rose by composer Alex Khaskin. The lead actors were professionals, Gary Glenn and model/law student Millie Davis. Not sure about the labrador.
All co-ordinated by market leaders Goldeneye Media whose campaign secured 33,000 views in its first week.
Agent Ross Savas was talking around $20 million for the property on its listing late last year.
The Devitt's are off to a St Kilda Road apartment.
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The beautiful rose, 16 St Georges Road, Toorak remains listed

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Investors in the LM Performance Fund (LMPF), of which Pimpama development Maddison Estate is a large asset, are at risk of not getting their investment back if trustees are unable to refinance a loan to Suncorp.
In an update released by KordaMentha, <a href="https://www.propertyobserver.com.au/queensland/trustees-appointed-to-gold-coast-based-lm-managed-performance-fund/2013041560407">the LMPF trustee appointed by the Supreme Court of Queensland</a>, Suncorp has stipulated a 30 June 2013 deadline for repayment of a $22 million loan.
LMPF was due to pay Suncorp in March this year but failed to meet the deadline.
Failure to repay this loan may result in Suncorp appointing a receiver to sell the property. The update also emphasised that the return of the existing $250 million investment in the fund will be minimal, and may be nil.
KordaMentha has advised that while the fund holds security over the development, it does not control the landowner, Coomera Ridge Pty Ltd, or the development.
LMIM founder Peter Drake has since provided KordaMentha access to the books and records of the developer, Maddison Estate Pty Ltd, as well as the Maddison Estate development.
KordaMentha and the developer have revised plans for Maddison Estate. It will now be a basic residential subdivision, without star-studded facilities such as a wave pool, volleyball courts, and aquatic centre as previously planned.
With the new master plan, KordaMentha engaged Knight Frank and Colliers International to review the revised layout. Both organisations recommended a decrease in price for developed lots, and a revision in revenue escalation rates.
The update added that previous revenue rate assumptions “were significantly overstated”.
Maddison Estate, a $1.5 billion Gold Coast Queensland residential community project, was marketed as setting residential community estate benchmarks.
With its strong focus on sporting facilities, the developer has attracted celebrity endorsements from the likes of Olympians Sam Riley, Natalie Cook, as well as world champion surfer Kelly Slater.
However, the podium finish success of Maddison Estate at Pimpama could be a long time off.
<img height="235" width="470" src="/images/stories/2013/05/may3maddison/6.jpg" alt="6">
Property Observer has reported previously that Maddison Estate is a major asset of the LM Performance Fund (LMPF), managed by LM Investment Management (LMIM), whose founder is Peter Drake.
 
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LMIM has recently entered into voluntary administration. The Supreme Court of Queensland has appointed KordaMentha and its affiliate firm Calibre Capital as joint trustees of the LMPF. Previously, John Park and Ginette Muller were appointed voluntary administrators of LMIM on March 19.
<img height="235" width="470" src="/images/stories/2013/05/may3maddison/20.jpg" alt="20">
Most of the $350 million invested in LMPF came from overseas investors, some in Malta.
Investors in the fund have a 60% exposure to Maddison Estate through a $234 million second mortgage, with a smaller $22 million first mortgage to Suncorp, which expired in March.
Property Observer also reported that a “steady stream” of investors are planning to lodge a class action suit against financial planners who recommended they invest in mortgage funds issued by LMIM.
<img height="263" width="470" src="/images/stories/2013/05/may3maddison/21.jpg" alt="21">
LMIM claimed to have $3 billion in funds under management with investors in 73 countries, according to the Gold Coast Bulletin.
The ABC’s Four Corners reported that LMPF was marketing the fund as a “bank-like facility”, but the claim was withdrawn by LMPF “as soon as it realised the potential for confusion.”
Pimpama, which is 30km north of Surfers Paradise, is the last remaining rural town on the Pacific Motorway between Brisbane and the Gold Coast. That was set to change with Maddison Estate and its landscaping by Jamie Durie.
Maddison Estate covers 118 hectares and has plans for about 2500 dwellings and 800 lots of land. It aims to house 3500 residents upon completion.
In addition to 2500 square metres of retail space, 37 hectares of parkland including 30 hectares of environmental reserve have also been planned.
The parkland was to be divided into six different parks, with a sports focus. According to Maddison Estate’s website, the project’s vision was created “in the spirit of developing our next generation of Olympians and in the lead up to the 2018 Commonwealth Games”.
As such, collaborations with Riley, Cook (pictured below), and Slater should not have been any surprise. Indeed Cook’s association with LMI began when Peter Drake financed her journey to the Beijing Olympic Games in 2008. She was slated to create a sandstorm beach volleyball park in Maddison Estate’s Central Park.
<img height="460" width="450" src="/images/stories/2013/05/may3maddison/24.jpg" alt="24">
 
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Riley, who runs six swim schools in Brisbane at present, also planned to open the first Gold Coast Sam Riley Swim School in the estate’s Central Park.
Property Observer could not ascertain at press time if Cook and Riley are still tied to the Maddison Estate project, but presumes their engagement is no longer required.
While the world’s first Kelly Slater wave pool was also marketed as a huge part of the project, Surfing Life reported in March this year that the “Kelly Slater Wave Company had entered into ‘an exclusive Memorandum of Understanding,’ to build one of its wave pools on the site, but no contracts had been signed and no money had changed hands.”
Slater also told Surfing Life, “…we aren't actually in business with Maddison as of now, and have been waiting to really understand what the truth of the whole matter is with the company anyway.”
Even with revisions from KordaMentha, Maddison Estate’s Facebook page still shows updates from November last year linking them to the Kelly Slater wave pool.
The project was meant to create an additional 3,500 construction jobs, as reported by the Gold Coast Bulletin.
LMPF’s latest financial report has stated that building companies Ausbuild, Clarendon Homes, Metricon and Plantation Homes have signed agreements with Maddison.
However, a check by Property Observer has found that all links between Ausbuild and Clarendon Homes to Maddison Estate have been taken offline. Metricon’s website has no link to Maddison Estate as well, although Plantation Homes had three listings on realestate.com.au for three seperate lots on the property.
LMIM first took control of the Maddison Estate project in 2010, after a joint venture with Young Land Corporation fell through, as reported by goldcoast.com.au in August that year. Under the partnership, the project was then named Arrowtown.
Coomera Ridge Pty Ltd, where Drake is the sole director, owns around 30 sites in Pimpama. These sites were mostly purchased between 2006 and 2009 according to RP Data records for $89 million, as reported by the ABC.
The Gold Coast City Council moved to speed up Maddison Estate’s approval process in August last year, as reported by ABC News. In October last year, the Australian Financial Review reported that the project had won preliminary approval, with the first 150 lot stage been fully approved.
According to the Maddison Estate January 2013 Project Update, bulk earthworks commenced, paving the way for the first 140 lots. Delivery of the first 29 lots and the first stage of Central Park is anticipated for later this year.
In February this year, a press release stated that the first phase of tree clearing and demolition works were completed, and bulk construction had commenced.
Multiple attempts to contact Maddison Estate’s site office to determine the current state of construction were unsuccessful.
The directors of the LMPF include Peter Charles Drake, who is the founder of LM Investments Management (LMIM), Eghard van der Hoven and Francene Maree Mulder, who both sit on the directorship of LMIM, as well as Katherine Phillips, who became the director of LMIM UK Limited in 2007.
While little is known about Drake and van der Hoven, Mulder has held several managerial positions in commercial mortgages, conveyancing, and the property sector, according to zoominfo.com. She is currently the Executive Director, General Manager Distribution and Product of LMIM.
Phillips was the director of LMIM UK Limited from 2007 to June 2012. In July 2012 she was appointed the director of the LMPF.
According to LMPF’s latest financial report, it has continued to pay investor redemptions, which make up 6% of Funds Under Management. This is a significant decrease from “a high of just under 40%” of redemptions.
At the time, the fund met the objective of maintaining investor capital, and “declared investor returns of 3.00%p.a. to 5.00%p.a. over cash rates whilst maintaining full capital value”.
The report also stated that management fees paid to LM Administration Pty Ltd by the LMPF totaled $11.36 million for the 2012 financial year, up from $1.39 million for the 2011 financial year.
LMPF stated in the report that the amount represents 3.1% of average net assets of the fund, and that it is a “pre-planned increase in management fees is reflective in the growth of assets in the Fund and allows the Manager to employ additional resources required to properly manage the assets to the benefit of the investors”.
The report also adds that the LMPF pays LM Administration Pty Ltd is paid an administration fee of 5% per annum directly from the scheme’s assets.
A disclosure update for LMPF was posted on 31 January 2013, stating that the fund’s assets totalled AUD$401 million.
The disclosure statement notes that commercial loans total $385 million, with the largest mortgage totaling $240 million.
 
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Back to basics for troubled $1.5 billion Maddison Estate

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A quick update on where the largest declines in residential property values have been experienced and where the largest capital gains have been recorded across the country.
The bar charts below show the top 30 statistical divisions nationally for the largest ‘peak to current’ decline in dwelling values (i.e. change in house and unit value from their respective market peak through to the end of May 2013) and the largest annual capital gains over the past five years (based on compounding growth rate).
The largest corrections have clearly been recorded across the coastal and lifestyle markets;  more particularly the largest declines are most concentrated across unit dwellings within these regions.  There are a variety of factors that have caused values to fall substantially in these areas:
<ul>
<li>Unit dwellings within the lifestyle regions generally show a larger proportion of investor owners and holiday home / second home owners.  In times of financial distress, the investment property or second home will often be the first to be divested.  A large number of properties were added to the market in these areas at a time when buyer demand was virtually non existent.</li>
<li>Additionally, unit dwellings within these markets are often more reliant on short term holiday rentals or long term rental demand from service workers associated with the tourism and retail sectors, both of which have shown weakness post GFC.</li>
<li>These markets were prime beneficiaries of the ‘sea change’ phenomenon where retirees or prospective retirees were driving migration and housing demand in these locations.  I would expect that this trend (and hence housing demand) has slowed substantially as many retirees and prospective retirees look to rebuild their wealth post GFC before embarking on their sea change.</li>
<li>There’s also the fact that most of these markets recorded a strong run up in values pre-2008 and were arguably overvalued.</li>
</ul>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/06/lawlessjune17one.jpg" alt="lawlessjune17one" width="407" height="580">
For those individuals who have aspired to own a holiday home or relocate to one of these lifestyle markets the buying opportunities are now looking much more affordable than they were back in 2007.
 
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The largest gains have generally been recorded across regional markets around the country, particularly those associated with the mining sector.  The Pilbara region of Western Australia stands out as recording the highest rate of capital gain at 19.8% per annum over the past five years.  This is clearly a spectacular return, however many of these mining regions are now showing a substantial slowdown in buyer demand as the resources sector transitions out of a very strong phase of infrastructure investment and growth.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/06/lawlessjune17two.jpg" alt="lawlessjune17two" width="380" height="580">
Tim Lawless is national research director of <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow">RP Data.</a>
 
 
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The pain and the big gains in Australian property values: RP Data's Tim Lawless

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It should be quite obvious by now that most Australians would agree that calling an election six months out has been nothing less than a diabolical economic disaster. On a daily basis consumers are being hit with an avalanche of misinformation which is paralysing consumer confidence within the Australian economy.
There is no better example than the relevance battle as newspapers morph their business models into the more consumer preferred online models. Newspapers will eventually cease Monday to Friday and move to the re-branded weekend editions with online publications broadcasting the working week.
A brand new environment that is fraught with danger given the survival model is based entirely on convincing investors these media initiatives will entice investors and pay wall subscribers. <a title="Media rivals facing a brave new world" href="https://www.theage.com.au/business/media-rivals-facing-a-brave-new-world-20130607-2nvh2" target="_blank">Media rivals facing a brave new world</a> which is a topic I find quite fascinating given if the pay wall strategies fail (which I think they will) the respective brands’ consumer integrity will collapse.
Online technologies are the new consumer addiction – just look at the Samsung vs Apple battle for example where it is abundantly clear that consumer communication is changing on a daily basis.
Last week we read <a title="jobless rate tipped to hit 10 – year high" href="https://www.theage.com.au/business/jobless-rate-tipped-to-hit-10year-high-20130612-2o4b0" target="_blank">jobless rate tipped to hit 10-year high</a> yet ninety minutes later we learn that the frequently compiled jobless rate went down to 5.5%. What we have today is a plethora of bad news which ends up contradicting itself – no better example than Western Australia being in recession (the week before last) only to see a correction a few hours later that it was not in recession.
Having said that I agree what Charlie Aitken wrote last week that – “what we need to put in context is that the East Coast of Australia has been in a “feels like” recession for five years.’’
I blame the federal government for this given in the <a title="March Quarter 2013 CEO Pulse" href="https://www.businessspectator.com.au/sites/default/files/arbitrary_files/456886/Business%20Spectator%20GA%20Research%20CEO%20Pulse%20Report_Qtr1_2013.pdf" target="_blank">March Quarter 2013 CEO Pulse</a> – the nation’s top chief executives’ scorecard for the government’s performance in managing the economy was down to 2.7 out of 10, which was the second lowest point it has been since Business Spectator began CEO Pulse in 2010. The lowest rating was 2.6 in Quarter 3, 2011.
“The World’s Greatest Treasurer” climbed onto his soapbox this week <a title="Swan slams recession talk " href="https://www.businessspectator.com.au/news/2013/6/13/politics/swan-slams-recession-talk" target="_blank">Swan slams recession talk </a>which was an understandable rebuke given in the case of the Australian economy he is to wield the ‘Midas Touch’. The problem for Australia’s treasurer is that <a title="business confidence stuck in a rut " href="https://www.smh.com.au/business/the-economy/business-confidence-stuck-in-a-rut-20130611-2o161" target="_blank">business confidence stuck in a rut </a>with the National Australia Bank business conditions index for May posting a minus 4 which was up from the minus 6 in April – despite a falling Australian dollar with record low interest rates.
Jessica Irvine filed a fantastic article on Business Spectator – <a title="Forty – three ways to boost productivity" href="https://www.businessspectator.com.au/article/2013/6/11/economy/forty-three-ways-boost-productivity" target="_blank">Forty-three ways to boost productivity</a> an amazing critique of the Australian business economy.
<img alt="simeonjune17one" height="357" width="470" src="/images/stories/2013/06/simeonjune17one.jpg">
<img alt="simeonjune17two" height="378" width="470" src="/images/stories/2013/06/simeonjune17two.jpg">
 
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The fascination with the Mosman market continues with houses and apartment listings continuing their downward spiral in terms of available properties. These same results are being mirrored in Cremorne and Neutral Bay listings. For those hoping for a post-election property bonanza you should consider this. At this stage the federal election is set for September 14 – on September 20 NSW goes into school holidays which conclude on October 9 so we expect a strong run of new stock in the lead-up to the election with vendors punting on a change of government.
Source: Australian Property Monitors
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time 2012 – 94 • Number of houses on the market last week – 81 • Number of houses on the market this week – 76 • Number of apartments on the market this time 2012 – 89 • Number of apartments on the market last week – 59 • Number of apartments on the market this week – 60
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time 2012 – 16 • Number of houses on the market last week – 8 • Number of houses on the market this week – 9 • Number of apartments on the market this time 2012 – 19 • Number of apartments on the market last week – 10 • Number of apartments on the market this week – 9
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time 2012 – 17 • Number of houses on the market last week – 12 • Number of houses on the market this week – 13 • Number of apartments on the market this time 2012 – 54 • Number of apartments on the market last week – 32 • Number of apartments on the market this week – 34
Surprise, surprise! For the financial year 2010/11 there was a $39 billion claim by Australian landlords in deductions which was an 18% increase on the previous financial year.
Hence an Australian Taxation Office – <a title="crackdown on landlords after surge in claims." href="https://www.smh.com.au/money/tax/crackdown-on-landlords-after-surge-in-claims-20130611-2o26i" target="_blank">crackdown on landlords after surge in claims.</a>
Parliament sits for the final time next week until the election – I (like many others) expect a spill with another prime minister being appointed – given the previous form guide this will happen next Wednesday night where the Governor General’s son-in-law will be the union chosen one.
The real estate industry will be hoping he calls an August 3 or 10 election.
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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Strong run of new real estate stock expected for Mosman, Cremorne and Neutral Bay in lead-up to federal election: Robert Simeon

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The fortunes of Clive Palmer’s five-star Coolum Resort have sunk dramatically, a local tourism operative has claimed.
It follows Palmer renaming of the former Hyatt Regency Resort the 'Palmer Coolum Resort', the reported sacking of hundreds of workers and the loss of its premier event, the Australian PGA, which this year will be played at Royal Pines.
Noel Mooney, president of Coolum Business and Tourism, told The Australian that the original investment by Palmer was treated as a very good for the local economy but that things have since soured.
"Nothing (at the resort) seems to make sense now.
"Nothing flows or matches up. Occupancy there has been down to 2% and 3%
“Before (under Hyatt's management and higher occupancy) the tourists would venture out and spend money in the retail areas,” says Mooney.
Court documents obtained by The Australian from Palmer's battles with Hyatt in the Supreme Court last year reveal it had a much higher occupancy but was losing money when he bought it in mid-2011.
The mining billionaire and now political candidate in the seat of Fairfax <a href="https://www.propertyobserver.com.au/news/mining-magnate-clive-palmer-snaps-up-sunshine-coast-resort/2011070650722" target="_blank">acquired the five star former Hyatt Regency resort</a> and adjoining golf course from Lend Lease at Coolum on the Sunshine Coast in July 2011 and has since renamed it Palmer Coolum Resort.
Last year, Palmer severed ties with the Hyatt group, which had the management rights for the resort for 12 years.
The newly branded resort includes a portrait of the mining magnate in the lobby, a restaurant called the Palmer Grill and most recently, a new car museum with 30 vintage cars from Palmer's private collection including a 1954 Aston Martin.
He has reportedly scaled back plans for a dinosaur theme park.
 
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Occupancy rates at Clive Palmer’s Coolum Resort now in low single digits

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Fund manager Moss Capital, run by former Macquarie Bank director Bill Moss, has acquired the Manning Mall in Taree from Mirvac for $32.6 million.
The sub-regional shopping centre (pictured below) in the Mid North Coast NSW town has 11,300 square metres of retail space and is anchored by Target and Coles.
<img alt="mosscapitaljune17one" height="294" width="470" src="/images/stories/2013/06/mosscapitaljune17one.jpg">
The funds management business plans to spend a further $150 million in retail assets, The Australian reported.
Mirvac acquired the Manning Mall for $32.5 million in November 2006 and spent a reported $15 million refurbishing it in 2009.
It was valued at $33 million as of June 2012 with turnover of $48 million per annum.
It is Moss Capital’s second regional NSW retail acquisition after it acquired the Griffin Plaza at 2 Yambil Street for $14.75 million in November last year.
The 7,225 square metre neighbourhood shopping centre was purchased from Millennium Asset Management on a yield of around 10.5%.
Bill Moss managed Macquarie Group’s global banking and real estate businesses as part of a 23 year career at the investment bank.
He founded, grew and led Macquarie real estate group to where it managed over $23 billion worth of investments around the world.
Commenting on the latest acquisition, Moss Capital’s head of real estate, Michael Baliva, said Manning Mall fitted its investment criteria "given its non-discretionary focus, robust cash flow, attractive acquisition yield of 10.4% and its strong growth in centre sales following the closure of a competing Coles supermarket in the immediate area".  
“The centre will deliver our investors high risk-adjusted returns with forecast income distributions in excess of 10 per cent per annum; significantly more attractive than from A-REITs investing in similar assets.”

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Moss Capital plans more shopping centre acquisitions after $32.6m Manning Mall, Taree purchase

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The NSW Treasurer Mike Baird has announced the $15,000 grant for new homes buyers will be extended until January 2016 in the upcoming state budget.
The first home owner grant was due to be reduced to $10,000 in six months time on 1 January, 2014. It now has another two years at $15,000 during which developers and home builders will pursue the recently hesitant first home buyer constituency.
"We're saying to every first home owner across the state, if you are thinking of buying - think new," Mr Baird said.
Mr Baird claim the incentive announced in last year's budget to take effect in October was "already seeing signs of life in the critical housing sector."
Critics have suggested the grant's new home limitation has meant there has been a luke warm take-up by first time buyers who have traditionally sought established homes. NSW office of state revenue data show Westmead headed the list of recipients in the year to April with 406. Parramatta had 205 and Liverpool 333 grant recipients.
The <a href="https://www.propertyobserver.com.au/tax/nsw-doubles-its-first-home-grant-for-new-homes/2012061255075" target="_blank">FHOG </a>was doubled in the expressed hope of "kick-starting" the state’s lacklustre home building industry, but first home buyer finance levels have remained low, according to the latest ABS data.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose slightly to 14.3% in April 2013 from 14.2% in March 2013.
But Westpac noted that first-home buyers remained the stand out weakspot in the approvals data.
"We estimate loans to this segment were up 0.7% (seasonally adjusted) in April but are still down 10.8% annually and at very low levels by historical standards, particularly in NSW and Queensland," says Westpac.
The number of home loans to NSW first-home buyer in the March quarter totalled 2,647 -<a href="/news"> 57% lower than a year ago </a>and a 40.6% fall in the March quarter alone, the latest Real Estate Institute of Australia (REIA) figures revealed.
The NSW stamp duty concessions for first homebuyers of new homes will remain, Mike Baird advised in the lead up to the 2013 State Budget.
<a href="https://www.osr.nsw.gov.au/benefits/first_home/general/fhogs/" target="_blank">The NSW $15,000 grant is for new houses and units costing up to $650,000</a>.
The NSW budget will be delivered on Tuesday.
Since last year's budget decision to cease the NSW $7,000 First Home Owner Grant most other states and territory's have implemented similiar limitations on the grant.
Property Observer's most recent update on the <a href="/news">state by state guide </a>was published after the decision by the ACT government to withdraw the $7,000 first-home owner grant as at August 31 and replace it with a $12,500 grant for new homes only from September 1.
It meant six states and territories have shifted their incentives in favour of what Ray White boss Brian White says is effectively a “builders’ grant”.
NSW, Victoria, Queensland, South Australia. Tasmania and the ACT have all withdrawn (or will withdraw in the coming months) their handouts for first-home buyers who buy an established home.
 
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