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.

Joel Robinson

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

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

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Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

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Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

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.

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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.

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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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Harry Triguboff opened the doors of his private mansion estate in Vaucluse to Channel Seven’s Today Tonight earlier this month.
In a five minute <a target="_blank" href="https://www.youtube.com/watch?feature=player_embedded&amp;v=DqqdPi2tHBQ">segment</a> Triguboff showed reporter Laura Sparkes around his “little house” while discussing his secrets to success.
<img alt="triguboffmay27two" height="260" width="470" src="/images/stories/2013/05/triguboffmay27two.jpg">
During the slot he revealed his limited edition Bentley (pictured below), one of only two in Australia.
<img src="/images/stories/2013/05/triguboffmay27one.jpg" width="470" height="289" alt="triguboffmay27one">
He discussed how money doesn’t actually mean that much to him beyond making business easier.
“You have to work hard. The more money you have the harder you have to work, that’s for sure. If you think that by having money you work less you soon won’t have it,” Triguboff says.
He tells Sparkes his success came from having one idea and he stuck to it.
“I never built even one cottage. I never went into subdivision. I never went into commercial. I only stuck to one thing,” he told Today Tonight.
“I saw that was where the movement was. And I saw it 50 years ago, not today. And I had lots of fights because they were telling me how Australians had to have a quarter acre block but I told them that’s not true. Some do and some don’t.
“It used to be the dream. So what? They can’t do it.”
He says the apartments are like his babies and he loves them all.
Triguboff says part of the secret to his success is having the cash to do what he wants without being badgered by lenders.
“I need money to make money to grow. To buy blocks of land at $100 million a pop you have to have money.”
“It’s very hard if you have to run to the bank to ask for money because they will start telling you ‘can you afford, can’t you afford it? Is it good is it bad’. This way I don’t have to talk to anyone. I have the $100 million and I do what I like.
“When I grew up no one had that kind of money so none of us knew it. It was just the evolution of time. And it is hard to conceive because how much money do you really need?”
He runs the company according to his whims and Triguboff has last say in all decisions.
“I listen to everybody. I ask their opinion I listen to it and then I decide and that’s what we do.”
Having just turned 80 Triguboff plays down speculation of retirement.
“I feel very well. I felt very well when I was 20 and I am feeling very well when I am 80. Mind you I can’t run as fast and I can’t swim as fast,” Triguboff says.
“I think that you should try and do everything you could as long as you can. You work as long as you can, you drive as long as you can, you run around with women as long as you can.
“I will retire when I become useless and I will the first to understand that. And I will be very quick in retiring.”
He says there will no slowing down for him or Meriton.
“The opportunities are bigger, the country is bigger. More money.”
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Meriton's Harry Triguboff shares his business secrets - no cottages, no subdivision

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A 158-square-metre office suite in Museum Towers, a mixed-use 35 storey office and residential tower on Castlereagh Street in the CBD has been listed for sale with $695,000 expectations as demand for larger Sydney strata offices from self-managed super fund investors rises.
The office suite includes a car park at <a href="https://www.realcommercial.com.au/property-offices-nsw-sydney-500660111" target="_blank">267 Castlereagh Street</a> with owners and tenants also having access to an indoor pool and a roof-top deck.
Museum Towers dates back to the 1930s with a decorative red-brick façade featuring four floors of office suites and 120 apartments.
According to Knight Frank, the Sydney CBD Strata office market recovered strongly in 2012 after bottoming out in 2011, with SMSF investors leading the charge.
The total volume of sales increased by 45% over this period with $136.5 million transacting despite only a modest rise of 3.1% in the total number of sales.
Capital values also showed a limited increase of 1.7% to a current total market average of $5,122 per square metre.
Knight Frank city sales executive, Andrew Palmer says there has been a significant increase in the volume of sales experienced in Sydney CBD Strata Office sales, specifically among owner occupiers, across the last calendar year despite a tightening and slowdown in the delivery of new quality stock to the local market.
In particular, the core CBD precinct attracted strong interest with average capital values increasing by 15.6% on 2011 figures.
“Predominantly the key factors for driving this significant increase in sales in 2012 are improved investor sentiment and the cost of debt continuing to fall with the cash rate now at its lowest level over 50 years. In 2012, we entered into a perceived low point of the property cycle with interest rates dropping and confidence returning in the market,” says Palmer.
“This sharp spike in sales can also be attributed to the change which took place 18 months ago in SMSFs. Investors began taking advantage of favourable tax benefits on offer with much of this increased activity during 2012 generated by SMSF’s and this in turn has pushed prices steeply up in the core precinct.
“There has also been noticeable change in buyer interest from sub 100 square metre office spaces which accounted for almost three quarters of all sales in 2011 to a strong movement back to larger office spaces, 101 square metres plus.
"This is indicative of Australian business downsizing post GFC and business becoming more confident and beginning to expand again in 2012,” he says.
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Castlereagh Street office suite listed for $695,000 as SMSF investors return to Sydney strata office

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What governments do and don’t do can affect the quality of our lives in terms of where we live and the type of housing we live in. 
We are increasingly turning away from the conventional form of the detached housing, demonstrated by 2011 Census figure that show a 66.7% increase in flat or apartment living from 2001 to 2011.
It is important that governments understand the change in our increasingly diverse society and its housing demands.
No doubt market driven supply and demand are drivers of much of the housing stock on offer, but what is less acknowledged is the impact of intervention of governments through regulation.
There are differences between Victoria and NSW that have influenced housing choices.  These differences will become less pronounced if each government borrows from the other’s housing policies for multi-unit development.
Melbourne’s apartment boom has been part population growth and changing demographics and part aided by a regulatory framework that has been relatively unrestrictive in determining the size and configuration of apartments.
The lengthy boom followed a hiatus of twenty years from 1971 when the Victorian Government introduced a major overhaul of residential controls in the Melbourne Planning Scheme, which effectively eliminated medium and higher density housing from being developed in Melbourne.
For twenty years, only 15% of new housing starts were in the form of multi residential housing until a rare Federal Government initiative called the Better Cities Program, together with a reviews of the residential planning rules by the Victorian Governments (alternating Labor and Liberal), provided the current regulatory framework. As a result, they played a significant part in making Melbourne a far more diverse and culturally rich city to what it was prior.
A prescriptive regulatory framework in Sydney
By and large, in Melbourne this framework is performance based. A more prescriptive framework operates in Sydney.
Whilst Sydney has a long history of multi-unit development, there has been only modest comparable multi-unit housing developed in the last few years.  Its long awaited upturn is encouraged by the proposed changes to the planning controls for multi-unit housing encouraging greater flexibility whist maintaining amenity standards.
Melbourne has typically been able to offer up more affordable apartments than Sydney, however Sydney’s apartments are often larger and have better amenity.  
In Victoria, multi-unit development controls allow greater flexibility and scope when determining the number and size of apartments.  Height controls are generally not mandatory and setbacks to streets and boundaries rely on little other than what is required for small-scale suburban development.
Design of privacy for multi-residential housing is managed by a minimum required distance between dwellings that was originally devised for single suburban housing scenarios.  Internal amenity controls are also limited, being largely governed by building regulations for single housing.  These stipulate required levels of ventilation and light as a percentage of the room area, irrespective of how deep the apartment is or whether its rooms receive adequate natural light levels, actual moments of sun penetration or natural ventilation.
 
<hr class="system-pagebreak">
In NSW on the other hand, sites have to be carefully master planned and buildings carefully configured to reach the government mandated targets of SEPP 65.
In 2002, in response to the then NSW Premier, Bob Carr’s perception of poor design standards of multi-unit housing development throughout Sydney, the NSW government introduced the State Environmental Planning Policy No. 65 – Design Quality of Residential of Residential Flat Development (SEPP 65).
It was followed with the Residential Flat Design Code (RFDC), a design guideline that provided discussion, analysis, examples and principles, primarily structured as a design tool for architects and assessing council officers.  It is a mix of ‘rules of thumb’ on issues such as cross ventilation and solar access.  These and other design objectives were quickly adopted as minimum standards for development.
The NSW planning policy also stipulates, through the Development Control Plans (DCPs) of Local Councils, both height and floor-to-site area ratios (FSR) along with type and mix of apartments (studios, 1BRs, 2BRs, etc).
SEPP 65 has improved the quality of multi-unit residential buildings in NSW. This planning policy has had a genuine impact on the quality of the built environment and residents living in these apartments appreciate their amenity. It has created awareness in architects and developers alike for the imperative for a rigorous design process that is not always found in the lower end product of its southern counterpart.  It has however, arguably resulted in more expensive apartments compared to what has been available in Melbourne.
Land costs are also higher in Sydney, resulting in a land cost of up to $100,000 per inner-city apartment, compared to around $50,000  per apartment in Melbourne. This higher land cost is exacerbated by fewer dwellings due to FSR caps, mandatory heights and required levels of apartment diversity. It is worth noting however that construction costs in Melbourne are 20% higher than Sydney for comparable projects.
Australia’s two biggest cities, Sydney and Melbourne, appear to be poised at opposite ends of their respective residential development cycles. Melbourne is expected to slow after experiencing a long boom – providing a valuable opportunity to review what is designed and offered to the market and look at what it can do better<ins datetime="2013-05-02T10:07" cite="mailto:Genevieve">. </ins>In doing so, I believe Victoria will adopt much of the NSW framework to raise standards for resident amenity, including access to light and sun, outdoor space and privacy.
Sydney is poised after years of quiet activity to gather momentum.  Important to this occurring will be the final revisions to SEPP 65 which<ins datetime="2013-05-02T10:08" cite="mailto:Genevieve">,</ins> yet to be finalised, are expected to borrow from the Victoria’s experience in providing scope for more flexibility and in turn, scope for greater affordability.
Small apartments should not be sacrificed in the process. Small apartments can provide affordable entry to housing for many people, particularly single households, who are the fastest growing household in Australia.
The small apartment should be considered as mainstream housing.  Governments, together with architects, councils, planners and developers should allow for innovative design solutions as ways to realise high amenity levels in ways not yet considered.
For small apartments to be successful homes, design levels have to be raised to accommodate adaptable layouts that allow residents to use them as they like, when they like. If a development consists mainly of small apartments, why not augment amenity beyond the apartment door with communal gardens or lounges and kitchens? Why not look to network amenity resources between precinct developments, with cross-pollinating facilities such as pools or playgrounds to encourage development of neighbourhood?<ins datetime="2013-05-13T14:57" cite="mailto:Sarah%20Buckeridge"> </ins> 
Taking care of the amenity and quality of what we live in and preserving what is of high architectural, cultural and social value is vitally important.  Taking care also of the broader community aspirations regarding diversity and demographic mix, equity and access to affordable and diverse housing is equally important.
The balance between prescriptive and performance standards is always difficult, with the desire to prevent the worst whilst potentially blocking the best. Governments need to arrive at a balance of the flexible and prescriptive and be open to the opportunity for innovation and affordability, or we will all be short changed.
Rob Stent is a director Melbourne-based architecture, interior and urban design practice Hayball and is a past president of the Victorian chapter of the Australian Institute of Architects. Among the buildings he has designed is Lend Lease’s completed Serrata apartment building in Docklands, one of Melbourne's first apartment buildings to achieve a four-star Green Star rating.
 
 
 
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Sydney developers must not abandon small apartments as momentum builds: Rob Stent

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A pilot program to assist senior Australians to downsize their home without affecting the age pension will be welcomed by some retirees but the vast majority will be disappointed by the limitations of the scheme, as they want to stay where they are rather than sell and move away.
From July 1 2014, those claiming the age pension and who have lived in their current home for at least 25 years, can downsize and invest the additional funds, capped at $200000, in a special account. The funds invested and any interest earned will be exempt from asset and income testing for up to 10 years.
Although we welcome any initiative that is intended to improve choice for senior Australians seeking to access their housing wealth in order to fund their retirement, the appeal of the Government’s Housing Help for Older Australians’ pilot is likely to be somewhat limited as it does not address the overwhelming desire of retirees to remain in their homes.
The Australian Bureau of Statistics reports that 75% of Australians aged 65-74 and 82% of those aged 75 and over own their home outright. According to the Australian Institute of Health &amp; Welfare, outright homeowners are more likely to intend to age in place and exhibit the highest levels of satisfaction with their housing.
The key challenge for retirees seeking to improve their standard of living is to release some of their home equity wealth without selling their home and then having to move away from established and supportive social networks.
Domacom has emerged as the first provider of long awaited "Second Generation" Equity Release products, which will improve the range of equity release strategies available to the so-called, Asset Rich but Cash Poor retirees who have previously had little choice beyond bank-funded Reverse Mortgages. Compounding the problem, the number of Reverse Mortgage providers has fallen dramatically since the Global Financial Crisis. 
The MoneySmart website hosted by the Australian Securities and Investment Commission suggests that using home equity may be suitable if “you need a lump sum for home maintenance or renovations so you can stay in your home” but warns that “using your home equity is a big step”. ASIC also advises consumers to work out whether the benefits outweigh the risks and always seek financial advice before making a decision.  
Domacom has taken an important decision introduce a mandatory requirement that clients obtain both financial and legal advice, in order to increase consumer protection.
Given that home ownership represents about 70% of Australians’ personal wealth and that the number of Australians aged 65 and over is predicted to double by 2031, home equity release options are likely to stay on the agenda for government policy developers regardless of the 2013 election outcome.
Arthur Naoumidis is chief executive of <a target="_blank" href="https://www.domacom.com.au/">Domacom</a>
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Seniors downsizing pilot program to be welcomed by some but not all: Arthur Naoumidis

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The Reserve Bank has noted strengthening conditions in the housing market, but it remains worried about demand for home loans, says Westpac chief economist Bill Evans.
Evans said the primary reason for the rate cut in May was a “surprise low print for inflation in the March quarter” as well as a “downbeat assessment of business conditions”.
But, he says the RBA board also “takes considerable notice of credit growth” qualifying its statement that housing loan approvals are improving with the comment that “credit growth remains subdued to date” along modest growth in business debt.
“This failure of credit growth to support optimism around the housing market is a very important observation,” says Evans.
“It is repeated in the final paragraph of the ‘Considerations for Monetary Policy’ section and provides an important condition which the Bank is likely to require before it declares victory in its objective of boosting the housing market.
“We have seen other comments from Bank officials pointing out that any sustained boost to housing activity and house prices would need to be supported by a marked improvement in credit growth.
“Of course to date this improvement has been missing mainly because existing borrowers continue to pay down debt,” says Evans.
Evans is sticking with his expectation, post the May rate cut, that the cash rate will fall to 2%, as well as a June rate cut, but with some degree of uncertainty on the timing.
“We were also sufficiently encouraged, particularly around the Governor's statement that implied there was more scope to ease policy, to expect a follow-up move in June
“Accordingly, while we are confident about our medium term view that the cash rate will eventually reach 2%, the choice of a June or later date for the next move is highly subjective.
“We are comfortable to reserve any decision to push back that call until we see Australian dollar and capital expenditure evidence over the next week," he says.
The government’s capital expenditure plans are to be released on May 30, which Evans says are “so important for the bank's overall plan to rebalance investment towards non-mining activities".
Evans is tipping a cash rate of 2% by the March quarter of 2014.
ANZ economist Justin Fabo has a 25 basis point rate cut “pencilled in” for later this year.
“Combined with our subdued outlook for overall business investment, however, and an expectation that the currency is likely to remain elevated for a while yet, our view is that the cash rate is still more likely than not to be lowered a little further,” he says.
CommSec economist Savanth Sebastian says the RBA has “made it clear that it is not done cutting rates” though it is unlikely that multiple rate cuts are on the cards.
“Certainly with inflation well contained and expected to be within the target 2% to 3%band over the next couple of years policymakers can rest easy while maintaining an easing bias,” he said.
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Subdued home loan growth a worry for RBA with 2% cash rate still on the cards: Westpac’s Bill Evans

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Property prices are on the move in the inner suburbs and as a result more and more buyers are going to find themselves priced out of the house market.
Instead, they will turn to townhouses and apartments as a more affordable alternative. In many cases, they are not just buying the title to a property; they are also taking on a wider responsibility to other owners in the development, by joining an owners' corporation (formerly known as a body corporate in Victoria).
Before you buy a property in a development with an owners' corporation, it’s essential to understand your potential financial liabilities and other responsibilities as a member.  
An owners' corporation is made up of the owners of all the properties in a particular development, and is responsible for insuring, maintaining and improving the common property (that is, any part of the building and grounds that is shared by other owners).  
Many corporations engage professional managers to run the organisation’s day-to-day affairs on their behalf, and pay them a management fee to do so. However, the manager is not legally responsible for the decisions and activities of the corporation.  
Common property may include, among other things, external walls, roofing, fencing, rubbish bin corrals, driveways, shared courtyards and shared laundries. To pay for the upkeep of common property, members of an owners' corporation are generally required to pay regular contributions. They may vote to strike additional levies to fund expensive one-off outlays such as repainting the building’s exterior, repairing the roof or replacing the windows.  
Before bidding at auction or negotiating a private sale, you or your legal representative should obtain an owners' corporation certificate which should form part of the vendor’s statement and tell you whether the corporation is planning any cosmetic or structural works, along with their estimated cost. Even when the cost is divided amongst a large number of other owners, your share may be quite high in dollar terms.  
Given that you’re already spending hundreds of thousands to buy the property and pay associated costs like stamp duty, the cost of works to common property may be the straw that breaks the camel’s back—so it’s important that you consider them before going any further.  
The certificate should also detail your share of ongoing owners' corporation fees (usually payable quarterly), which will help you budget for your holding costs over the long term.  
Once you’ve purchased, it’s essential to take out appropriate insurance. Whilst the owners' corporation is responsible for taking out and maintain adequate insurance to the common property, that’s as far as their liability extends.  
As an individual owner, it’s highly advisable to take out insurance that will cover the contents inside your apartment (if you’re an owner occupier) and include a public liability element in case a third party is injured on your premises. If you’re a landlord, it’s a good idea to take out landlord protection insurance to cover you in the unlikely event that your tenant maliciously damages your property or leaves without paying the rent.  
The owners' corporation is also responsible for setting and administering rules which govern the activities of residents in relation to the common property. Depending on the corporation in question, these rules may govern issues such as affixing external air conditioning and hot water units, colours to be used in external repainting, acceptable uses for balconies, covering floorboards to minimise disturbance to residents below, and pet ownership.  
The greater the number of apartments in a development, the more owners' corporation members there are, and the harder it can be to reach agreement on issues regarding the common property. Some owners are highly motivated, whilst others prefer to keep a lower profile and may deal with the corporation via their property managers.  
Whilst every owner is responsible for decisions made by the corporation, most organisations appoint a Committee to co-ordinate the views of the wider membership and liaise with the manager. Whilst joining your committee is no guarantee that your views on a particular issue will win the day, it can provide a greater sense of participation in matters that affect you and your fellow owners.  
By knowing your financial liabilities and ongoing responsibilities to the corporation before you sign on the dotted line, you’ll be well poised to enjoy the benefits of owning your townhouse or apartment right from the start.    
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and homebuyers.
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Do your research before buying a property within a residential owners' corporation: Mark Armstrong

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A <a target="_blank" href="https://www.crimecommission.gov.au/publications/crime-profile-series-fact-sheet/clandestine-laboratories-0">report by the Australian Crime Commission</a> stated that from 2010 – 2011, by a significant stretch Queensland recorded the highest number of detected clandestine laboratories in the country at 293. Western Australia followed with 171 detected labs and New South Wales and Victoria reported 87 and 63 respectively.
In my role, I have been fortunate to have a relationship with the Queensland Police Service Drug Squad. We have a common goal to educate property managers and licensees on the risks and indicators associated with the discovery meth labs. I have come to understand that illegal drug activity is not exclusive to outlying suburb and learned some of the indicators most would overlook, but are in fact a blaringly obvious clue to identifying a meth lab.
The circumstances in which Queensland property managers are required to conduct routine inspections means their eyes should be wide open to such clues. Clandestine (meth) lab detection in Queensland rental properties has and continues to grow exponentially.
Industry experts have been clear over the last number of years that these figures are rising – significantly. Only a month ago in Western Australia, <a target="_blank" href="https://www.watoday.com.au/wa-news/drug-lab-forces-public-housing-demolition-20130214-2efvh">it was reported </a>a home had to be fully demolished due to the extent of damage caused by the illegal activity.
The growing problem is not Australia-exclusive either. In an article by <a target="_blank" href="https://money.cnn.com/2013/02/12/real_estate/home-meth-lab/index">CNN money</a>, meth labs in US rental properties are a severe issue, with only 5 per cent of the approximate 84,000 labs detected by authorities when last recorded in 2004. Closer to home, the <a target="_blank" href="https://reiqblog.com/2012/12/drug-labs-found-in-unlikely-places/">REIQ Insider posted a blog</a> earlier this year on labs found in unlikely places, one in particular being in a high end suburb of the Gold Coast.
As a result of this rising issue, property managers and agencies may be exposed to significant personal and professional risk if the correct response measures are not taken. It is essential real estate practitioners take the time to understand how to recognise and respond to the discovery of a meth lab as mishandling could lead to far greater consequences.
In June, the REIQ in conjunction with the Queensland Police, Aon, Carter Newell Lawyers and TAADA (The Australian Drug Detection Agency), will host a series of interactive networking breakfast sessions that will identify key risks areas and the associated recognition and response tactics that every property manager must know.
For more information on these events, <a target="_blank" href="https://reiq.informz.net/reiq/archives/archive_777111">click here.</a>
Amanda Haack is events manager journal deputy editor at the <a rel="nofollow" target="_blank" href="https://www.reiq.com/">Real Estate Institute of Queensland</a>. This article originally appeared on the<a rel="nofollow" target="_blank" href="https://reiqblog.com/"> REIQ blog.</a>
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Queensland property managers must keep their eyes open for meth labs: REIQ

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Speciality store vacancy rates in the Brisbane CBD are tightening as global brands like Zara, Topshop and Gap arrive on Queen Street Mall, says Jones Lang LaSalle (JLL).
The Brisbane CBD retail vacancy rate fell 0.4 percentage points over the second half of 2012 to be 3.7% as of December 2012 and, anecdotally, according to JLL, has edged further down in 2013.
The pedestrianised shopping strip crept up two places to be named the <a target="_blank" href="https://www.propertyobserver.com.au/retail/brisbane-s-queen-street-mall-climbs-into-list-of-world-s-ten-most-expensive-retail-rental-spaces/2013051461337">ninth most expensive retail space in the world</a> at $US739 per square foot per annum (about $A8,024.25 per square metre).
In its May update, Jones Lang LaSalle notes that there appears stronger signs in 2013 that general demand is improving in the Brisbane CBD retail market.
The graph below shows Brisbane CBD vacancy rates trending down, against the national trend:
<img alt="brisbane_CBD_vacancy_rates" height="382" width="470" src="/images/stories/2013/brisbane_CBD_vacancy_rates.jpg">
According to JLL, "leasing activity among food-based retailers has long been the primary source of demand in the market, but it now appears activity is improving among fashion-based retailers".
"A number of international retailers have, or are in the process of, entering the market, which is one driver of activity.
"Many of these retailers are implementing a large-format model and this ‘big box’ demand is creating a number of redevelopment opportunities in and around the Queen Street mall to accommodate these tenants, including Zara, Topshop, Gap and Hollister.
"As well as new mass market brands, the expansion of luxury brands in Brisbane continues, particularly along Edward Street, with Ermenegildo Zegna leasing 220 square metres at 155 Edward Street," says JLL.
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Brisbane CBD retail vacancy rate tightens as global brands hit Queen Street Mall: Chart of the week

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Australia’s economy should be the envy of the western world.
Where many western nations are plunging in and out of recession, our economic growth is only slightly below trend and unemployment is relatively low.
And with inflation seemingly tamed the Reserve Bank is comfortable with a cash rate at a generational low of just 2.75%.
But these beautiful numbers belie a tension and skittishness in economic commentary and in the mood of consumers and the electorate. Indeed, the conventional wisdom is that another rate cut is on the cards in coming months.
That worries me. I’m concerned about the possible mixed messages that Australia is sending internationally, particularly to potential investors and wealth creators. We’re increasingly signalling – in my view – an economy in trouble and an Australian can’t-do attitude, despite evidence to the contrary.
Matters are exacerbated by the troubles besieging the federal government. Its inability to predict, let alone stem, the voluminous growth in government debt over the last 12 months portrays it as hapless – a caricature the opposition is of course happy to hammer home again and again.
More broadly, the Gillard Government’s failure to sell its – and by extension, the nation’s –  economic credentials at home or abroad diminishes us at a time when we should be using our good fortune to further market the Australian economic brand.
I’m not particularly encouraged by the Opposition either, who, despite the polls predicting a comfortable win, appears less than ready for government. They’re heavy on slogans and light on policies.
I’ll need to see a lot more substance from them over the coming months – despite assurance and announcements relating to the carbon tax, pensions and income tax – to be reassured that they’re more than an opposition that’s big on rhetoric but small on anything else.
And that brings me to the heart-sinking matter of the federal election on 14 September. I know no one who is excited by casting their vote on that day. We have been literally worn out by the travails of this minority government – its innate uncertainty, policy log-rolling and perpetual eleventh hour negotiations – coupled with the Labor Party’s internecine infighting over the last 3 years and the media’s almost minute-by-minute obsession with dissecting it almost to the exclusion of any substance or policy discussion.
 
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We have reached a stage where, collectively, Australians are gritting their teeth in the face of the coming months of tedium.
Others may argue that politics is always unattractive but in 2013 it’s much much worse than the usual fare.  The politicians’ cynicism has infected the electorate. That’s bad for democracy and its bad for our sense of community. Perhaps things will change on the 15 September. I’m not sure.
Nevertheless, I wonder if too many policy makers are too willing to accommodate and assuage our irritable, gloomy attitude at the moment. Are they mistaking a temporary grumpiness and lassitude for a deeper malaise and, consequently, are we being over-medicated with lower interest rates and ill-conceived government spending?
Lower interest rates will of course be good news for the property market, and this month’s 25 basis cut will – in my opinion – almost inevitably see property prices put on a quick spurt of 5% capital growth (on average) and see values of many properties return to and even exceed their 2010 highs.
But changing interest rates can be like pulling a brick with an elastic band. If rates continue to be cut, who’ll know when we’ve reached a brick-flying moment of over-exuberance, resulting in excessive property price growth and jacked-up interest rates? I don’t anticipate the market to move into anything like bubble territory as a result of recent cuts, but we don’t need to risk engineering increased volatility.
I would be just as happy for a slower, more measured lift in prices over the next couple of years off the back of genuine improvements in economic output, and a return to judicious and strategic government initiatives at both the state and federal level.
Monique Sasson Wakelin is a director of <a target="_blank" href="https://wakelin.com.au/">Wakelin Property Advisory</a>, an independent firm specialising in acquiring residential property for investors.
 
 
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Property values could soon exceed 2010 highs as uninspiring election looms: Monique Sasson Wakelin

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The Coalition currently has no plans to remove negative gearing tax breaks used by a third of Australian property investors if it wins power in September.
Even if removing negative gearing were recommended as part of a broader White Paper tax review, it would only seek a mandate to change tax rules as part of a second term election campaign.
A story on thewest.com.au claiming shadow treasurer Joe Hockey would review negative gearing tax breaks for property investors as part of an incoming Coalition government tax review, has been rubbished by his spokesperson, Tony Ritchie, who is demanding a retraction.
“Tony Abbott was clear last Thursday night, saying if a Coalition Government is elected it 'will consult with the community to produce a comprehensive white paper on tax reform'.
“'We’ll finish the job that the Henry review started and this government squibbed. We want taxes that are lower, simpler and fairer and will take proposals for further tax reform to the following election.'
“Mr Hockey nor the Coalition has identified any particular tax that will be reviewed.
“If the White Paper makes recommendations the Australian public will be asked to give a second term Coalition a mandate before any taxation reform is undertaken.
“There could be no fairer or transparent system,” said Ritchie.
At the same time incumbent federal treasurer Wayne Swan has ruled out making any changes to negative gearing telling reporters in Adelaide today the government had “ruled out any change to the existing arrangements" in its response to the Henry report.
The recently published <a target="_blank" href="https://www.propertyobserver.com.au/landlords/two-thirds-of-property-investments-negatively-geared-ato-figures/2013043060891">ATO annual report</a> revealed that around two-thirds of Australia’s 1,811,174 property investors - 1,213,597 taxpayers –  using negative gearing provisions to claim losses on their investment properties for the 2010-11 tax year up from 1,110,290 who claimed losses in the 2009-10 tax year.
The average loss recorded for negatively-geared property investors was $10,947 in 2010-11, up from $9,132 in 2009-10.
<a href="/news">Investment adviser Scott Pape</a> stirred up a hornet's nest of responses from readers when he suggested that the government didn't have the "ticker" to remove negative gearing tax breaks.
Now he can add a likely Coalition government to his list.
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