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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A private offshore investor has paid $1.535 million - a yield of around 8% - for The Mezzanine at 65 York Street, Sydney.
The prime strata investment is on the corner of Barrack and York Streets in an iconic art deco heritage building. 
The Mezzanine comprises approximately a 231 square metre showroom/office plus storage.
The sale was negotiated by Savills’ executive, Ben Adler who said that with heavy restrictions in place on buying investment property in countries such as Singapore, China and Hong Kong savvy offshore investors are now switching their focus to places such as Australia.
Adler says this has become even more advantageous with the weakening of the Australian Dollar and falling interest rates. 
"The result is a dramatic influx of investors chasing well located CBD investments that offer solid lease covenants and strong yields. 
"In the sub $10m range there are still several opportunities to purchase on yields of 7.5% plus," he says.
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Offshore investor buys art deco Sydney strata space for $1.535 million

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Much has been made of the rebounding listed property sector in the past 12 months.
Atchison Consulting managing director Ken Atchison highlighted recently that <a target="_blank" href="https://www.propertyobserver.com.au/commercial/a-reits-deliver-strong-results-and-beat-equities-ken-atchison/2013042360678">A-REITs returned 30.7%</a> over the year to March 31, outperforming equities by 10.7%.
“Over three years listed property returned 11.7% p.a. Industrial property was the strongest performing sector over three years at 20.4% p.a,” he said.
However, the sector is now 10% off its recent peak with A-REITs down 3.7% in May (compared with a 4.4% decline in equities).
Further gloss was taken off the sector following Australand’s unsuccessful attempts to negotiate a sale of its non-residential business to GPT.
The worst performers over May were residential develop FKP Group (-13% cumulative return) followed by the CFS Retail Property Trust (-8.2%) ,Westfield Retail Trust (-6.9%) and Australand (- 5.9%).
Stockland, Australia’s largest diversified listed property trust, suffered a 4.9% fall in total returns in May with Goldman Sachs A-REITS analyst Simon Wheatley noting that it has been carrying a large cumulative balance of provisions since 2008.
Taking a longer-term view, A-REITS have rebounded 148.2% from their March 2009 (compared with an 88.4% rise in equities over the same period) but are still 40% down from their peak.
Returns comparison
<img src="/images/stories/april3grandview/areits_performance.jpg" width="470" height="280" alt="areits_performance">
Source: Goldman Sachs
Wheatley notes that the sector was looking “expensive recently” with some REITs having recorded price falls of 15% to 20% in the space of a month.
However while there was a “meaningful decline” in May, he says A-REITs “fared relatively well versus the broader equity market”.
Apart from an overall fall in market conditions and confidence – the May NAB Monthly Business Survey had business conditions at low levels with unchanged mediocre confidence levels – other factors contributing to the slide include A-REIT-focused funds now having little spare cash to invest in the sector following recent capital raising investments, better value offered by recently devalued Asian REITS, as well as the recent fall in the Australian dollar.
The Australian Financial Review notes that a recent spate of capital raisings from Mirvac Group, Stockland and Cromwell Property Group, which raised $1.5 billion having “given investors a severe case of indigestion”.
However analysts like Adam Fairfax at JP Morgan believe investors will return to the sector spurred on by better yields offerings, quoting CFS Retail Property Trust and Westfield Retail Trust offering yields of 7.25% and 6.6% respectively.
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Recovery in "expensive" A-REIT sector falters with 3.7% fall in May

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It’s interesting to note that today the internet is the most significant communicator in the world – according to Internet World Stats, as of December 31, 2011 there was an estimated 2,267,233,742 internet users worldwide representing 32.7% of the world’s population.
Given the recent obsessions with tablets and smartphones this number would have increased significantly where I believe internet users would now be greater than 50% of the world’s population. To a certain degree our lives have become somewhat obsessive with information – sharing and accessing a multitude of networks in a relentless search for information.
I was interested to read comments this week by Andrew Jaspan, the former editor of The Age, who said paywalls were not the answer to falling print revenues – “I think you’ll probably see the Sydney Morning Herald and The Age stop printing within a year, or two years, Monday to Friday.”
Already it is becoming most obvious that the “rivers of gold” (advertising revenues) have been diverted to online platforms simply because they are much more cost effective.
Jaspan went on to say “It was one hundred and fifty years ago that newspapers were the cheapest way to distribute, now the cheapest way is online, the most expensive way is actually through newspapers. Newspapers are going to become premium price and going to sell less of them.”
Newspapers will become a weekend edition although in time I believe that they will cease to exist as tablets and smartphones become the intelligent choice of consumers.
What remains to be seen is will consumers revert to paywalls? I’m not convinced given all this does is open the door for new players to enter the online media world with smarter platforms. Paywalls are being set up by newspapers simply because online has made them redundant where it can be argued they still don’t understand online – time will tell.
The latest go-to word in the media was that nasty recession word which made a fascinating debut when applied to the Australian economy. The last recession in the early 1990s was debt related more particularly with households when the cash rate climbed to around 17% – although today it currently sits at 2.75 per cent. Professor Ross Garnaut delivered an interesting speech this week – <a target="_blank" href="https://www.whocrashedtheeconomy.com/blog/2013/05/garnaut-takes-us-behind-the-smoke-and-mirrors/" title="Garnaut takes us behind the smoke and mirrors.">Garnaut takes us behind the smoke and mirrors.</a>
“Between the recession of 1990-91 and now, mid-2013, Australians have enjoyed the longest period of economic expansion, unbroken by recession, of any developed country ever.”
He now believes Australians must choose between two different paths – ‘business as usual’ and ‘public interest’. “If we continue with ‘business as usual’, we continue to live behind the veil of ignorance that has descended around public life. But, sooner or later, we will experience deep economic recession with high unemployment.”
<img src="/images/stories/2013/06/simeonjune12one.jpg" width="470" height="339" alt="simeonjune12one">
 
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<a target="_blank" href="https://www.smh.com.au/business/fears-of-a-recession-on-the-rise-20130606-2nrki" title="Fears of a recession on the rise">Fears of a recession on the rise</a> was followed quickly with <a target="_blank" href="https://www.smh.com.au/business/wa-in-recession-as-growth-slows-to-a-trickle-20130605-2nqh4" title="WA in recession as growth slows to a trickle">WA in recession as growth slows to a trickl</a>e which was then followed – up with <a target="_blank" href="https://www.theage.com.au/business/wa-recession-claims-are-hysteria-20130606-2nrzv" title="WA recession claims are ‘hysteria’">WA recession claims are ‘hysteria’</a> which was a classic example of the information highway running amok. There is no doubt that Western Australia will experience a slowdown given that is exactly what is happening to the mining industry – which definitely won’t be in ‘business as usual mode’.
Whilst we are faced with huge changes ahead within the business community they are also exciting times given the one industry that is growing at the fastest pace is the online side of the business. This means that every business (in some shape or another) will have to adapt smarter online initiatives which is even more exciting given the majority of these strategies are yet to be developed. It is most obvious that online is the new consumer communicator where the only problem for business is that they still remain firmly entrenched in ‘business as usual’ mode.
Stock levels continue to decline where in some instances volume numbers are at all – time lows despite the lowest ever cash rate. Interestingly enough we are seeing more panic coming from the purchasers not the vendors.
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time 2012 – 94 • Number of houses on the market last week – 85 • Number of houses on the market this week – 81 • Number of apartments on the market this time 2012 – 96 • Number of apartments on the market last week – 64 • Number of apartments on the market this week – 59
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time 2012 – 18 • Number of houses on the market last week – 8 • Number of houses on the market this week – 8 • Number of apartments on the market this time 2012 – 37 • Number of apartments on the market last week – 15 • Number of apartments on the market this week – 10
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time 2012 – 16 • Number of houses on the market last week – 11 • Number of houses on the market this week – 12 • Number of apartments on the market this time 2012 – 66 • Number of apartments on the market last week – 34 • Number of apartments on the market this week – 32
It has become increasingly obvious that yes, the way we do business is rapidly changing to the extent we need to be more adaptive and coherent with the future not the past. I love the saying that “if it’s not broken don’t try and fix it” – I would add that it’s actually been broken for quite some time given business has struggled to understand the speed of the information highway.
The vast majority of businesses in Australia apply the internet on a part-time basis which is simply because the proprietors simply don’t understand it – to the extent they basically have it on ignore.
It is quite obvious for the vast majority they need to adopt new strategies given we are faced with declining markets across the board. In the case of the real estate industry life after newspapers will be a monumental challenge for the agencies.
More particularly in that they will have to fund the new-world online initiatives?
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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Life after newspapers will be a monumental challenge for real estate agencies: Robert Simeon

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Interestingly, the industrial property market in metropolitan Melbourne still remains the largest in Australia.
The market has evolved significantly over the last two decades — largely underpinned by the strong growth in supply chain sectors (ie: the transport, logistics and distributions sectors).
In addition, there has been significant infrastructure investment, population and workforce growth, along with the entry of major institutions and developers.
<h3>Your choice has become wider</h3>
As a result, what you are seeing is quite a diversity in the types of industrial/logistics buildings demanded by corporate and other users — which have included manufacturers, as well as operators of warehouse/distribution and special temperature-controlled facilities.
The industrial market was one of the hardest hit by the GFC and it continues to be impacted by tough conditions, although they have is stabilised since 2011.
Land values have still not yet fully recovered from the depths of the decline experienced through the GFC, and remain at a 15% to 20% discount to pre-GFC values.
Yields and rents appear to have stabilised. However, some leasing still remains patchy, with transport, distribution and logistics sectors performing the strongest — given the impact felt from increasing supply chain needs of online retailing.
Absorption rates also remain subdued, at around 60% of average absorption rates observed through the 2000s.
Effectively, new supply has stalled; with limited strata unit projects emerging within in-fill locations. This lack of supply has continued to affect Melbourne's shortage of prime-grade stock, with many tenants being pushed into secondary-grade industrial buildings as a result.
Growth corridor plans from Melbourne's urban fringe have identified an additional 5,000 hectares of industrial land, which could come on to the market over the next 30 years.
Bottom line: This additional supply equates to approximately 40 years of demand — in addition to the 30 years of demand currently in the market.
Therefore, closer integration between logistics and online retailing will become an important driver of future industrial demand — especially as consumer sentiment picks up.
David Morton is a commercial and industrial property valuations specialist with <a target="_blank" href="https://www.charterkc.com.au/">Charter Keck Cramer</a>.
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Industrial property in Melbourne is becoming more appealing: David Morton

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The latest project to arrive in Sydney’s Lewisham is the Alpha Apartment complex, boasting 68 apartments across five levels.
Located on the corner of McGill Street and Canterbury Road, the property features one-, two- and three-bedroom apartments and has been designed by Tony Owen Architects.
<a target="_blank" href="https://www.tgc.com.au/residential/projects/20-McGill-St-Lewisham-11">Alpha</a> (pictured below) will take advantage of the inner west light rail extension and offer residents quick and easy transport with the Lewisham West light rail stop at its doorstep.
<img alt="lewishammay15one" src="/images/stories/2013/05/lewishammay15one.jpg" width="470" height="262">
<img alt="lewishammay15two" src="/images/stories/2013/05/lewishammay15two.jpg" width="470" height="235">
One-bedroom apartments range in size from 50 square metres to 94 square metres and are priced from $475,000.
Two-bedroom apartments range in size from 65 square metres to 91 square metres and start from $640,000.
Two- and three-bedroom skyhomes range in size from 72 square metres to 126 square metres and start from $710,000.
 
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<img alt="lewishammay15three" src="/images/stories/2013/05/lewishammay15three.jpg" width="470" height="310">
Although the official marketing campaign is yet to kick off, Jean-Paul Markopoulos of TGC Residential Projects says there are some eager owner-occupier buyers registering.
There are currently 15 apartments reserved, pending a contract.
<img alt="lewishamjune12one" src="/images/stories/2013/06/lewishamjune12one.jpg" width="470" height="325">
Markopoulos says interest has been particularly strong for the larger two-bedroom apartments and sky-homes.
“We are confident that when we kick off, we will sell 70% fairly quickly,” says Markopoulos.
The median unit price in Lewisham has experienced a 13% growth over the past year and is currently $475,000 according to RP Data.
Alpha has an expected completion date of 2015.
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Alpha the latest project to hit Sydney's Lewisham

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Everyone knows who “High-rise Harry” is, but have you heard of “Manhattan skyline Matthew”?
Victoria’s youthful planning minister Matthew Guy is looking to leave a permanent reminder of his time in office with a vision for a Manhattan-like skyline dominated by high-rise apartment projects.
Matthew Guy has approved three major skyscrapers to be built in and around the Melbourne CBD – Tower Melbourne, Australia 108 and Vision – and has a vision for the Melbourne skyline that “turns dramatically upwards”.
A press release issued by Guy in March to announce <a href="https://www.propertyobserver.com.au/victoria/fender-katsalidis-australia-108-tower-seeks-%241000-early-buyer-registrants/2012112058001" target="_blank">his approval of Australia 108</a>, which will rise 108 storeys (388 metres) and become the world’s 19th tallest building on completion, reinforced his vision with title “Melbourne, moving upward”.
Two things are clear: more people are expected to reside in apartments in and around the Melbourne CBD in the coming years and offshore players are a growing force in new developments.
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.
They estimate that offshore developers will account for around 39% (4,700 apartments) of new apartments being developed in Melbourne’s central City region over the next three years.
This compares with offshore developers accounting for just 8% of new apartments between 2000 and 2012.
The most high-profile Asian-backed project is Tower Melbourne, being developed by CEL Australia, a subsidiary of Singapore-based listed developer Chip Eng Seng Corporation.
The two other projects - Australia 108 (developed by architects Fender Katsalidis) and Vision (developed by the Brady Group) - are Australian-based projects but will attract Asian investors in their development and cashed-up private Asian buyers to off-the-plan apartment sales.
However, this shift towards high-rise project development spurred on by Matthew Guy's willingness to approve such projects, will require a major shift in Melburnians' affinity for living up in the clouds supported by continued investment from Asian buyers.
As one industry insider tells me, the densification of Melbourne around the CBD may be happening at a rate “beyond the community’s preference”.
In essence, what is required is a fundamental shift in patterns in household consumption of housing.
It requires that people move out of the established parts of Melbourne and into new apartments in and around the city.
And the granting of development approvals does not in the first instance guarantee a project will eventuate (the decision by ISPT to sell its Spencer Street site with approval for six residential towers a recent example of uncertainty about approved projects) nor does it guarantee a supply of tenants, even if off-the-plan sales are strong.
 
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Projects need to be appropriate to meet the market conditions and some may have to wait a very long time to see the light of day.
An example of this is Prima Pearl project, which is finally under construction and rising behind Crown Casino on Southbank.
The 72 story project, being developed by the PDG Group and being built by Brookfield Multiplex, received approval nearly 10 years ago.
Apart from the demographic shift required, the changing nature of commercial zones into residential ones will require an investment in community facilities such as libraries, child-care centres and supermarkets.
In some instances, the rise of residential developments has come before community investment, the most glaring example being Docklands.
RotheLowman architect and principle Chris Hayton designed the Abbotsford riverfront project on the banks of the Yarra River with a community feel and access and says Melbourne apartment buyers are looking for a place where “people will want to go and live, where they are able to walk downstairs to get their milk and where they don’t have to get into their car to kick the footy around.”
He calls it the “milk bar resurgence” and adds that the lessons can be learnt from some of the well-known failings of mixed-use developments at Docklands.
Industry players say there are broadly two apartment development markets in Melbourne.
The first of these is centred around the inner city markets – CBD, Docklands, Southbank and City Road - and dominated by offshore players who don’t have the pre-sales constraints of local developers and who can contribute greater equity to the project.
One example is the Tower Melbourne project.
With the backing of a listed Asian developer, it is certain to be built.
Offshore players play by different rules. They put more equity into their projects and require less financing, which influences what they can do.
In addition there are push factors from offshore markets like China, Singapore and Hong Kong where the rate of return on equity is much lower than it is here.
Earlier this year, Beijing banned single-person households from buying more than one residence. The government also increased the minimum deposit for all buyers of second homes and has increased the capital gains tax on property to 20%.
This means there is a lot of money floating about and looking for home and finding its way into the Melbourne apartment market.
But other projects backed by private funds – local or offshore - may take longer to come to market – or may not happen at all.
Plus Melbourne, which has had the offshore buyers’ market largely to itself up until recently, now faces more competition from Sydney, Brisbane and Perth.
Even Adelaide is attracting offshore interest with Chinese developer Datong buying four sites and commencing construction this week of $36 million project comprising 69 apartments.
The other new Melbourne apartment market is the one happening out in the suburbs, where local developers are building more modest or appropriate projects, provided they secure the necessary pre-sales.
And there remains another potential spoke in the wheel - the declining Australian dollar.
While a weaker dollar makes it cheaper for offshore investors to buy apartments off-the-plan, it could according to property consultants MacroPlan Dimasi discourage Asian developers from buying up development sites and undertaking new apartment projects because they will face the prospect of owning an asset that is declining in US dollar value terms.
And it appears perhaps that Matthew Guy himself is not entirely one-dimensional when it comes to the development of Melbourne’s urban areas.
He recently announced that he would save 87 heritage buildings in and around Melbourne including Norman’s Corner Stores at 180-182 Bourke Street and the former Argus building in La Trobe Street.
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Matthew Guy’s high-rise vision for Melbourne could be a pipe dream

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An investor has acquired a 170-square-metre warehouse unit in the Hyde Business Park in Yarraville for $420,000 for their self-managed super fund (SMSF). 
The two-level warehouse is one of 13 units being sold or available for lease in stage one of the business park development. 
It will lease for around $36,000 per annum equating to an indicative yield in excess of 8%. 
Yarraville is around 4 kilometres from the Melbourne CBD.
Another two-level unit in the development – unit 13 measuring 146 square metres over two levels - sold for $370,000. It includes a balcony looking over Melbourne’s Ports to the CBD. 
Both sales were negotiated by Colliers International’s Cameron Hunter and Nick Saunders, who have negotiated seven sales in the development to date. 
“The Hyde Business Park development is perched high on the hill and looks out to the Melbourne CBD. The views at night time in particular are unbelievable,” says Hunter. 
The remaining six warehouse units which feature automated roller shutter doors, kitchenette and shower within landscaped gardens remain available for purchase with prices from $365,000 from $465,000.
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SMSF investor acquires Yarraville warehouse with city views for $420,000 on 8% yield

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Hobart houses and units continue to spend the most time on the market, according to an RP Data report for the week ending June 9.
Hobart houses spend an average of 74 days on the market and offer the largest average vendor discount of 13.2%.
Hobart units spend an average of 103 days on the market and offer an average vendor discount of 11.1%.
Sydney houses spend the least amount of time on the market – an average of 35 days – and Sydney units only spend an average of 33 days on the market.
<img alt="rpdatatimeonmarketjune12one" src="/images/stories/2013/06/rpdatatimeonmarketjune12one.gif" width="470" height="318">
<img alt="rpdatatimeonmarketjune12two" src="/images/stories/2013/06/rpdatatimeonmarketjune12two.gif" width="470" height="422">
<img alt="rpdatatimeonmarketjune12three" src="/images/stories/2013/06/rpdatatimeonmarketjune12three.gif" width="470" height="427">
‘Time on market’ (TOM) is simply the average number of days between when a property is first listed for sale and the contract date.
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by rpdata over the past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.
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Hobart houses and units continue to linger on the market: RP Data

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Western Australia and Tasmania have led the states in the latest new listings activity figures published by RP Data for the week ending June 9. 
Western Australia recorded a 2.4% month-on-month (seasonally adjusted) increase in listings, while Tasmania had a 0.5% increase.
<img height="250" width="470" src="/images/stories/2013/06/rpdatanewlistingsjune12one.gif" alt="rpdatanewlistingsjune12one">
<img height="205" width="470" src="/images/stories/2013/06/rpdatalistingsjune3two.gif" alt="rpdatalistingsjune3two">
The RP Data listings index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market.
RP Data customers account for over 70% of all listings in the Australian property market.
The index, which tracks the flow of metadata across RP Data’s real estate data platform, shows a 75% correlation with the number of new listings about to enter the market.
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WA and Tasmania lead new residential listings activity: RP Data 

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Borrowers who took out a home loan with Heritage Bank in 2000 have, on average, saved the most in home loan payments compared to 23 other lenders, a new survey has found.
Those who took out a Citibank home loan have, on average, paid the most.
A study of 23 Australian financial institutions in the period from 2000 to 2012 found that Heritage Bank had the lowest average standard variable home loan rate of 7.01% over this period while the most expensive was Citibank with an average standard variable home loan rate of 7.43%.
The difference in the two rates equates to nearly $1,000 a year in extra mortgage repayments.
While interest rates are by no means the only consideration when applying for a mortgage (other factors include fees, costs, features and purpose of the loan), they are often the starting point for borrowers to investigate which lender to submit an application through.
<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/april3grandview/heritage_bank_story.jpg" alt="heritage_bank_story" width="470" height="747">
Source: Heritage Bank from University of New England study
The study was carried out by professor Abbas Valadkhani from the University of New England, who found that on average building societies offered the cheapest home loan rates (7.15%) followed by Australian banks (7.25%) and then foreign-owned banks (7.35%).
The next best behind Heritage Bank were the Newcastle Permanent Building Society, Hume Building Society, Greater Building Society and Adelaide Bank.
The average across the 23 lenders was 7.24%.
The cheapest of the major banks over the 12 year period was NAB ranked 11th (7.25%) and Westpac the most expensive, ranking 21st (7.34%)
Australia’s biggest mortgage lender the Commonwealth ranked 14th and ANZ, 17th. Heritage Bank CEO John Minz said he was delighted but not surprised that the study had identified Heritage as offering the lowest overall rate. "Heritage is all about providing our customers with the best value we can," he said. "As a customer-owned bank, we put people ahead of profits, and the results of this study clearly demonstrate that we are delivering on our promise of maximising value for our customers. "We are extremely proud that we have come out on top of this comparison, particularly as it spans a 12-year period. That is ample evidence of our long-term commitment to the financial well-being of customers." 
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