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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Property valuers Herron Todd White have warned the re-sale of metropolitian Melbourne off the plan properties might be challenging as overseas buyers account for a large portion of the market.
“Off the plan properties may be tempting with 10% deposits and reduced stamp duty, however a large portion of demand is coming from overseas.
“The majority of foreign investors are only able to purchase new off the plan properties, so when it comes to selling years later, your market pool has shrunk considerably.”
The valuers say the Melbourne apartment market is currently being watched very closely as evidence continues to emerge of an oversupply of apartments in the development pipeline, particularly in the metro area, with approximately 25,500 expected to be completed by the end of the next year.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/trends/matthew-guys-high-rise-vision-for-melbourne-could-be-a-pipe-dream-australia108-towermelbourne/2013061162045">reported</a> on Matthew Guy's approval of three new major skyscrapers in the Melbourne CBD, with the planning minister having almost a "manhattan-like-skyline vision."
Property consultants Charter Keck Cramer (CKC) anticipate a 30% rise in new apartments to be completed over the next three years taking total inner city apartment numbers from around 30,500 currently to over 42,000 by 2015.
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Melbourne off the plan re-sale warning: Herron Todd White

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Nearly a third of borrowers fixed their home loan rate in May, according to home loan approval figures from Mortgage Choice.
This is despite the RBA cutting the cash rate to 2.75% and with further rate cuts expected, but also as lenders continuing to discount their fixed-rate offerings with the Commonwealth Bank the latest lender to do so last week, <a href="/news">now offering a three year fixed-rate of 4.99%.</a>
Fixed-rate loans amounted to 30.10% of all new loans submitted by Mortgage Choice brokers and approved by lenders during the month of May.
This is the fourth consecutive month that demand for this loan type has risen – rising by 13.75 percentage points since January.
The figures come out one month ahead of the official ABS housing finance data. April ABS data showed fixed-rate demand at five year highs with one-in-five fixing their home loan.
Mortgage Choice accounts for around one in 10 home loan arranged in Australia and its monthly updates are a good lead indicator of national demand.
Ongoing discount variable rate home loans remain the most popular loan type accounting for 38% of all approved loans over May. Discounted rates are usually offered as part of a home loan package deal.
They are followed by standard variable  and basic variable with 13% each of the home loan market.
<img alt="mortgage_choice_figures" height="364" width="470" src="/images/stories/AlexPerry/mortgage_choice_figures.jpg">
Queenslanders continue to be the most conservatively-minded borrowers with the state recording the greatest rise in fixed rate demand up by 7.43 percentage points to reach 37.84% - the highest all the states.
All states apart from Victoria/Tasmania recorded a rise in fixed-rate home loan approvals (21% of loans) with a third of NSW borrowers (33%) fixing their home loan in May. 
“For four consecutive months now a growing number of new borrowers have chosen a fixed rate loan. In fact, the uptake of fixed rate loans now sits almost seven percentage points above the six-month average," said Mortgage Choice spokesperson Belinda Williamson.
“Given the ongoing, competitive pricing of fixed rate loans, it is possible that new borrowers choosing this loan type are motivated less by the peace of mind offered by steady repayments and more by the current offers.
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Nearly a third of borrowers fixed their home loan rate in May: Mortgage Choice

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The Tasmanian tourism icon Pub in the Paddock - with Pinky the pig - is still on the market for $799,000.
Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/leisure/pinky-the-pig-pub-in-the-paddock-at-pyengana-tasmania-listed/2012081956113">reported</a> on the Pyengana listing in August last year.
Located on St Columba Falls Road and formerly known as the St Columba Hotel, Pub in the Paddock is infamously known for its beer-drinking pigs.
Located on 2.8 hectares, the hotel was built in 1880 and features six country-style guest rooms, a restaurant and commercial kitchen.
The main bar features an open fireplace and also included is a liquor and beverage store and an office.
The pig-beer-guzzling-pub was originally listed in 2008 for over $1.1 million, but failed to sell.
“This property is perfect for the owner operator, offering a lifestyle that most can only dream of,” says listing agent Nereda Ball of <a target="_blank" href="https://sthelens.ljhooker.com.au/558FN1">LJ Hooker St Helens.</a>
Ball told Property Observer this week that there has been a lot of interest in the listing, but no buyers as of yet.
The current vendor has owned the pub for nine years.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
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Tasmania's trophy Pub in the Paddock and Pinky the pig still on market

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Hong Kong businessman Tony Fung is in Cairns this week to discuss with local officials and state leaders his plans for a casino-hotel complex, reportedly a $3 billion project.  
Projects of that scale do not happen overnight and this one may not happen at all. But it says something about the re-emergence of Cairns that such ventures are being discussed.  
There’s no doubt Cairns is fighting back after a long period as the almost-forgotten city of North Queensland. Local leaders are working hard to encourage development and diversify the city’s economy, for too long too dependent on tourism.  
Just how tough the past five years have been in Cairns real estate is illustrated by figures in the March quarter report from the Real Estate Institute of Queensland. The median house price for Cairns today is 6% lower than it was five years ago. The median price for apartments is 23% lower than in 2008. Ouch.  
I know people who own investment property in Cairns and “ouch” doesn’t really do justice to their feelings about the place.  
The city’s recent performance is a million light years from the glory days of the 1980s, when Cairns and the tropical north was the trendiest place in Australia to build tourism-related property developments. Tourists and investors from Japan fuelled the boom.  
But building an economy based on tourism is like building an edifice on sand dunes. Tourism is very cyclical and highly vulnerable to economic downturns, at home and abroad.  
In the past 20 years, Cairns has been overtaken and left behind by Townsville, which has a highly-diversified regional economy in which tourism is just one element.  
Now Cairns is reinventing itself. Tourism is still big and it’s coming strong again, with major investment not far behind. This time the impetus is coming from China. Two of the biggest Chinese airlines have recently begun direct flights into Cairns, complementing the ones coming regularly from Hong Kong, Singapore, Osaka and Tokyo.  
But civic leaders are working to broaden the base. The local council is seeking to inspire construction by waiving some of the big fees that deter developers. The council says 24 projects worth $400 million are happening as a result.  
In terms of infrastructure, always a big generator of real estate growth, $450 million is being spent on upgrading the hospital, $110 million on expanding the port and potentially $1 billion on redeveloping the airport (in a 20-year plan approved by the state government in March).  
There is also a growing resources sector within commuting distance of Cairns. An April report said the Far North’s mining industry had surpassed $1 billion a year in earnings for the first time and now ranked behind tourism and primary industries as the region’s third biggest generator of wealth.  
Against this background we are seeing the first signs of real estate revival. The number of sales, for both houses and units, in the March quarter was a big increase on the levels of a year earlier and some suburbs now have median prices higher than a year ago.  
Valuation firm Herron Todd White says in the June edition of The Month in Review: “Some lead sections of the market, such as the more popular inner suburbs, are already in recovery. The more widespread recovery appears to be imminent … and there are good prospects and opportunities for buyers with a 4-6-year time frame in mind.”  
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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Impetus from China is helping Cairns to reinvent itself: Terry Ryder

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This weekend, following the completion of the first building at Central Park, the public is being invited to a preview of three penthouse apartments, on Saturday 15th &amp; Sunday 16th June from 10am to 5pm.
There was recently a VIP inspection.
The $2 billion Central Park development in Sydney is the ongoing development of Frasers Property Australia and Sekisui House.
{qtube vid:=B_AMa50iDCE&amp;feature=youtu.be}
One Central Park’s West tower, designed by French architect Jean Nouvel with PTW Architects, is now complete with residents moving in shortly.
WHAT | Public viewing of One Central Park West
WHEN | Saturday 15 June &amp; Sunday 16 June, 10am-5pm
WHERE | One Central Park West entrance foyer (adjacent to the Central Park Display Pavilion, 80 Broadway, Chippendale)
Construction began in December 2010.
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One Central Park West preview on Broadway at Chippendale 

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The former Olympic swimmer Giaan Rooney - now presenting the weather of Channel 7 - has listed her Port Melbourne cottage.
More than $1.08 million is tipped for its July auction through Brett Hallan at Greg Hocking Real Estate Albert Park.
Hallan says its been "impressively renovated and intelligently extended."
The Victorian terrace has three bedrooms and two bathrooms with an indoor-outdoor focus at the rear.
There are polished floors and high ceilings.
Its upstairs has the main bedroom with walk-in robe and ensuite.
It last traded at $770,000 in 2006.
Meanwhile the veteran Channel 7 weatherman David Brown has secured the first house sale as he embarks on a new career in real estate.
His <a target="_blank" href="https://www.realestate.com.au/property-house-vic-park+orchards-113584487">first listing </a>at <a target="_blank" href="/news">Park Orchards</a> sold last month after being listed with $740,000 plus hopes.
The meteorologist signed on with Hoskins Real Estate in Melbourne's east having been replaced in his prime-time news slot by former Olympic swimmer Giaan Rooney.
He stays on at Seven as network meteorologist covering special weather events for shows including Sunrise, Sunday Night and Today Tonight.
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Former Olympic swimmer Giaan Rooney lists Port Melbourne terrace

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Looking at country housing markets for each state as a whole, Victoria, New South Wales and the Northern Territory were the best performers for the month of April, according to John Edwards at Residex.
"Each market experienced growth in the house and land market as well as the unit market," he noted.
South Australia, Tasmania and Western Australia were the worst country performers for the month, recording negative growth in both the house and land market and the unit market, the report noted.
For the year ending April 2013, the top performing suburbs in each country property market were:
<ul>
<li>Country New South Wales 
<ul>
<li>Boggabri houses: 24.37% growth</li>
<li>Singleton units: 13.07% growth</li>
</ul>
</li>
<li>Country Queensland 
<ul>
<li>Wandoan houses: 24.74% growth</li>
<li>West Gladstone units: 12.83% growth</li>
</ul>
</li>
<li>Country Victoria 
<ul>
<li>Lethbridge houses: 20.88% growth</li>
<li>Wollert units: 10.75% growth</li>
</ul>
</li>
<li>Country Western Australia 
<ul>
<li>Kambalda East houses: 24.11% growth</li>
<li>South Hedland units: 20.10% growth</li>
</ul>
</li>
<li>Country South Australia 
<ul>
<li>Laura houses: 15.84% growth</li>
<li>Tanunda units: 2.52% growth</li>
</ul>
</li>
<li>Country Tasmania 
<ul>
<li>Greens Beach houses: 11.14% growth</li>
<li>Riverside units: 5.25% growth</li>
</ul>
</li>
</ul>
The statistics for regional property markets around <a href="https://blog.residex.com.au/2013/06/12/regional-australia-property-market-update-2/" target="_blank">Australia</a>.
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Boggabri and Kambalda top the 12 best performing localities in country Australia: Residex

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Recently I had a discussion with a broker who specialises in construction funding and he advised me of some of the problems he was having placing several of his construction loans.
After listening to his complaints, I found myself questioning his experience, as it contradicted my own experiences of the past five years post the GFC.
As many of you would be aware, we at Folio Finance are very active in raising loans for construction particularly in the transaction sizes of $5m-$20m and have been from our inception back in 2005. During this time we have funded over $300m in projects, with the majority in and around southeast Melbourne, the CBD and Melbourne bayside.
So what has changed during this time?
Below I discuss the major areas that need to be addressed when applying for construction loans and provide you with examples of how things may have been done pre-GFC and what has changed since. I’m hoping this will clarify some of the misconceptions out in the market regarding project funding/construction funding.
Note, the examples and advice below are specific to bank finance and not loans from private lenders or non-bank lenders.
1.	Lending Ratios &amp; LVR’s – Whilst banks (and some brokers alike) may talk about a loan as a percentage of ‘end value’ (when discussing loans for construction), lending for development has always been provided on a loan to development cost basis. Banks and brokers tend to talk “end value” as it is an easier concept to grasp, but in reality, banks always lend the lower of a percentage of costs (i.e. 80% of costs) or a percentage of the net realisation value (NRV ie.65% of NRV).
A simple way of looking at this, is that for every dollar of agreed project costs the bank is willing to lend you a fixed percentage. This ensures that the developer has an adequate amount of equity throughout the project cycle and not only once the construction is completed and majority of risk reduced. I can’t tell you how many times I have had developers come to my office and advise me that they have millions of dollars in equity in their project, based on the end value of the finished product (not a good sign).
Some lenders did change their lending ratios post GFC, in particular WBC, CBA and NAB, but there were many others who didn’t and continued to offer construction loans in Australia, at an “80% of costs” level.
*NRV i.e. gross sales less GST and agent’s commissions
2.	Presales – construction loans in Australia have always required pre sales for larger commercial projects, when the project sponsor lacked the capacity to service the proposed debt, from external cash flow.
Pre-GFC, many banks were proceeding with transactions based on pre sales of 50% of debt coverage.
Post-GFC, this condition was tightened to 100%.
More recently, some banks have relaxed this condition back to 50% pre sale cover providing a strong signal that banks are once again, very willing and keen to fund residential and commercial construction loans.
3.	Developer experience. You can’t buy experience and as such, the most desirable developments to fund (for banks) are those that are supported by experienced property developers. Its experienced developers who are able to make decisions quickly, on site, ensuring the project is completed on time and on budget.
A project Folio Finance recently funded, was completed four months in advance and saved the client over $400k in interest on their first and second mortgages. It was a highly profitable project and I attribute this to the experience and expertise of the project sponsor. His experience meant that he was personally able to project manage the development and quickly and efficiently sort out many of the issues that appeared during construction.
 
<hr class="system-pagebreak">
Conversely, at a similar time, we assisted a developer who had years of building experience, as well as a solid level of property development experience (in building townhouses), who required assistance with construction finance to assist with his first apartment property development. Despite his building experience, his lack of property development experience (of a similar nature) resulted in the project incurring heavy delays and the project timeline blowing out over nine months.
Ironically the bank had forced the developer to extend out his sunset clauses on his presold apartments (which the developer strongly contested, as he was adamant he could complete the project within his estimated timeframe) and this meant that none of the buyers were able to cancel their contracts, due to his delays.
A developer’s balance sheet will also go a long way in validating a property developers previous success and its highly unlikely that bank would be willing to lend a developer , tens of millions of dollars, if they don’t have a healthy balance sheet (would you?).
4.	Financial statements of the borrower – we receive many enquiries from developers who claim that they don’t have, or are unable to provide financial statements. The assumption they make is that their weak financial statements will render them inadequate to attain funding from a bank. This is completeley wrong.
Construction loans should be structured on a “stand-alone” basis with the cashflow or debt repayment generated from the sale of the end product and not the sponsor’s historical financial statements (unless the developers strategy is to build and retain). There are very few developers or developments that are funded on the strength of the sponsor’s cash flow (in the market segment I work in anyway being &lt;$20m in value) which is why pre sales are so important.
Recently we had a six-apartment development approved for a developer who had a taxable income of $8k in 2012. Five of the six apartments had been presold which meant that the banks could be repaid in full on completion of the project. This, along with scoring strongly in areas 1-3 above, meant the funding was approved through a Big Four bank at very competitive rates.
So taking the above into account, my assessment of the current market for construction finance in Australia for projects of &lt;$20m in value is:
1.	The market is more dynamic post-GFC and despite the policies of some banks changing during this time, funding has continued to be available at traditional LVRs
2.	Brokers need to control the application process by organising their own valuations and other supporting reports, and ensure that their credit submissions are detailed enough to allow an application with a number of lenders at one time. During the past five years brokers and developers who have been willing to work with a number of lenders would have experienced little to no change in the level of funding they could access for construction loans
3.	Projects that have the right fundamentals are always highly sought after by banks and lenders in general
4.	Anecdotally, I believe a high majority of projects that are not funded or declined by the banks, simply don’t qualify for bank funding and wouldn’t have qualified even in friendlier times
5.	The biggest impact in changes in construction lending, have been at the lower end of the markets (i.e. small townhouse development ) where developers became accustomed to raising construction finance, based on the projects end value and had little to no equity in the project. This type of funding where the majority of risk was transferred from the developer to the lender was unsustainable and whilst it was a great form of finance for developers, was always expected to be tightened up
6.	The market for construction finance is not nearly as bad or tough as people make out and banks and non-banks alike, have shown a strong interest to work in this space in 2013
I welcome your comments and opinions on your own experiences, even if they contradict my own.
Con Katsiouras is director of <a target="_blank" href="https://www.foliofinance.com.au/">Folio Finance</a>
 
 
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Key changes in the construction funding process since the GFC: Con Katsiouras

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Demand for fixed-rate home loans surged to its highest level in more than five years in April, the latest ABS housing finance figures reveal.
More than one-in-five borrowers (20.6%) fixed their home loan rate in April up from 18.4% in March and 13.5% in February.
The ABS figures show big surges in fixed-rate demand in NSW (up 18%), Victoria (up 22%) and WA (up 31%) in April.
The previous high (and all-time high for ABS data going back to 1991) was in March 2008 when more than a quarter (25.5%) of borrowers fixed their home loan rate when the cash rate reached 7.25%.
This followed a period of increased take-up of fixed rates as the cash rate rose with fixed rate demand as a proportion of total mortgage lending above 20% between October 2007 and March 2008.
For many who fixed over this period, it proved a disastrous move as the RBA then proceeded to cut the cash rate by 425 basis points between September 2008 and May 2009 – leaving those on fixed-rates with significantly higher mortgage payments.
The only option then was too pay hefty mortgage exit fees (still in place for fixed-rate home loans) or continue to pay the higher mortgage payments until their fixed-rate term ended and then refinance into a cheaper variable-rate home loan.
This time the situation is quite different with the cash rate down to a 53-year-low of 2.75% and lenders offering enticing one, two and three-year fixed rates well below 5%.
A more conservative mindset amid concerns about the economy and jobs may also be a factor in rising take-up of fixed-rates.
The most recent lender to cut its fixed-rates was <a href="/news">the Commonwealth Bank</a>, the nation’s biggest mortgage lender, which cut interest rates on new three-year fixed rate home loans- the most popular fixed-rate term - to 4.99% per annum under its package home loan offering.
Others to have cut their fixed-rates recently include <a href="/news">Citibank</a>, <a href="/news">RAMS</a>, and <a href="/news">Aussie</a>.
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Fixed-rate home loan demand surges to five-year high with one in five fixing: ABS

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A converted West Melbourne warehouse, currently comprising four separate residences, has been listed with $2.5 million expectations.

The four three-story residences have previously been leased for a combined $128,960 per annum total.
The building has two street frontages, <a target="_blank" href="https://www.marshallwhite.com.au/5550201/">on Franklin Place and McDougall Lane</a>, and concept plans prepared by Hamilton Design allow for six floors within the existing roofline, as well as ten car parks.
Its Melbourne City Council zoning is mixed-use.
The neighbourhood has a mix of residential, retail and commercial properties, making the property suitable for a variety of uses within walking distance of the CBD, Flagstaff Gardens and Docklands stadium.
It has been advertised as an "outstanding opportunity for investors and developers, subject to council approval."

Expressions of interest close June 26 with Leonard Teplin, the Marshall White Real Estate Melbourne agent saying he has received “solid interest” so far for the offering by Jim Manolios.
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