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.

[smartcode_project:default project_id=7877 project_image_fid=355754]

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.

[smartcode_project:default project_id=7877 project_image_fid=355852]

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.

[smartcode_project_cta:default project_id=7877]

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.

[smartcode_project:default project_id=151614 project_image_fid=371872]

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.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"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.

[smartcode_project:default project_id=151614 project_image_fid=371890]

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.

[smartcode_project:default project_id=151614 project_image_fid=371877]

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.

[smartcode_project_cta:default project_id=151614]

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.

[smartcode_project:default project_id=136442 project_image_fid=374084]

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.

[smartcode_project:default project_id=136442 project_image_fid=374088]

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.

[smartcode_project:default project_id=114215 project_image_fid=204874]

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.

[smartcode_project:default project_id=108019 project_image_fid=212658]

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

<html><body>
The absence of complimentary stamp duty concessions is likely to be a stumbling block for Wayne Swan's budget initiative of assisting age pensioners to downsize their homes.
The new pilot scheme follows the Panel for Positive Ageing having identified housing as one of the major challenges of an ageing population.
The age pension assets test doesn't measure the value of a family home, but after it is sold the cash proceeds can trigger a reduced pension eligibility.
"We will trial a new measure at $112.4 million in funding to assist senior Australians to downsize to a home more suitable to their needs without reducing their age pension," Mr Swan said.
From 1 July 2014, senior Australian homeowners who have owned their family home for at least 25 years and who decide to downsize will have the option to invest surplus funds (up to $200,000) in an account.
Its been suggested there will be 30,000 seniors able to sell up and have their home proceeds protected from the age pension means test if they place the bulk of their sale proceeds into a special bank account.
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years.
Only the ACT provides expressed incentives when it comes to downsizing.
Pensioners living in the ACT could act as a litmus test in the trial, because the ACT exempts older people from paying stamp duty, pensioner groups have noted.
NSW flirted with a scheme for seniors, but was underwhelmed by the result, so that it didn't get extended beyond July 2012.
The funds invested in the account and earned interest, will be exempt from the age pension means test for up to 10 years.
<div title="Page 1" class="page">
<div class="layoutArea">
<div class="column">
The age pension is the largest item of expenditure in the Federal Budget each year.
The means-tested pension commencing at age 65 for males and (currently) 64 for females but is set to be adjusted to age 67 over the next decade.
As at March 2012, the full age pension was $695.30 a fortnight for a single person and $1,048.20 a fortnight for a married couple. There was also a pension supplement for singles of $60.20 a fortnight ($90.80 for couples). The assets test is updated several times annually.
<div title="Page 8" class="page">
<div class="layoutArea">
<div class="column">
The means testing that is applied to the pension consists of an income test and an asset test. The payment received is the lower amount determined by the two tests. The family home is exempt from the assets test.
<div title="Page 8" class="page">
<div class="layoutArea">
<div class="column">
Currently a single homeowner with assessable income less than $152 per fortnight, and assets outside the family home of less than $192,500, is entitled to receive the full pension of $695 per fortnight plus a pension supplement of $60.20 per fortnight.
Every dollar of income above the income test threshold reduces the pension entitled by 50 cents per fortnight, and every $1000 of assets above the asset test threshold reduces the amount of pension by $1.50 per fortnight.
</div>
</div>
</div>
A recent Rice Warner actuaries reports noted a partial pension was payable for home owning couples with earnings up to close to $2,500 per fortnight and with over $1,000,000 in non-housing assets.
<div title="Page 9" class="page">
<div class="layoutArea">
<div class="column">
"For example, a couple who are homeowners with non-housing assessable assets of $750,000 and assessable income of $45,000, are eligible for a considerable part age pension payment of over $10,000 per annum, and those with even higher income and $1 million in non-housing assets are still eligible for a partial pension," it noted.
<div title="Page 9" class="page">
<div class="layoutArea">
<div class="column">
"Apart from the overly generous exemptions for home ownership, the means testing provisions generally ensure that those who are relatively well off do not receive a full age pension.
"However, means-testing has become a complex and inconsistent system,' it added.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

jchancellor-FAypfDUnLy

ACT public servant mandarins most likely to benefit from federal budget downsizers scheme as stamp duty the major hurdle for seniors in other states

<html><body>
The decision to allow Perth shops to trade on Sundays helped push up the performance of Federation Centres' WA portfolio of shopping centres, the group has revealed in its March quarter update.
The new laws were introduced on August 26 last year allowing all general retail shops in the <a target="_self" href="https://www.commerce.wa.gov.au/consumerprotection/PDF/Misc/Metropolita_area_map.pdf">Perth metropolitan area</a>, including major supermarkets and department stores, the right to open their doors on Sunday between 11am and 5pm.
“Following the introduction of Sunday trading in August 2012, the performance of our WesternAustralian portfolio was particularly strong, recording moving average turnover growth of 4.9% at the end of the period," said Federation Centres chief operating officer Mark Wilson.
The performance of the WA portfolio was substantially better than annual retail sales growth of 2.4% and the performance of Federation Centres shopping malls in other states.
"Our NSW portfolio also showed encouraging signs, with moving average turnover growth of 2.5%.
"The portfolio located in NSW and Western Australia represents approximately 50% of the total by value.
"Trading conditions in Victoria and Queensland however remained more subdued, with moving average turnover growth of only 0.3% and 1.2% respectively over the period," he said.
Overall Federation Centres reported a "solid" first quarter of the year with occupancy at a rate of 99.4%.
Overall annual sales growth increased to 2.4% at 31 March 2013 from 2.0% at 31 December 2012, with specialty retailers continuing a positive trend to show annual sales growth of 2.5%.
Federation Centres, formely called Centro Retail Australia, has a portfolio of 46 shopping centres worth $4.4 billion.
It has recently sold over $200 million worth of non-core shopping centre assets held in Centro syndicates, while also acquiring the <a href="/news">Centro at Gympie for %63.8 million</a>.
</body></html>

lschlesinger-FZcF9M3vE6

Perth Sunday trading delivers boost to Federation Centres WA malls

<html><body>
In the current economic climate tenants in the commercial property market – rather than landlords – have the upper hand.
Tenants are increasingly looking at the bottom line and with landlords keen to retain tenants, there are opportunities for tenants to negotiate a better deal.  
Tenants are continuing to examine their entire business to identify where cost savings can be generated and given that one of the major costs to all businesses is the premises they operate from, this is a good place to start. The current economic conditions have created a tenants’ market, so now is the time for tenants to examine every space their organisation occupies and explore the strategies available to reduce risk, maximise operating efficiency and drive down costs.  
This market provides the perfect opportunity for tenants to reposition and enhance their businesses and this can be done primarily through workplace improvement and upgrades.  
There are several ways in which office tenants can benefit in the current market, and the best way to capitalise on the opportunities is to outsource property requirements to experts. Tenants need to be aware of what is on offer so they do not simply exercise an option or sign another long-term lease without looking at the options available.  
In this type of market landlords are keen to retain or secure tenants on long-term leases to guarantee income and extend their Weighted Average Lease Expiry (WALE), so any tenant with two years or less remaining on their lease should look to engage with a tenant representative now to ensure the best outcome. There are opportunities, for instance, for tenants to renegotiate or restructure their lease and receive a significant cash incentive from their landlord for extending. There are numerous examples recently where 100 % of a tenant’s new fitout was covered by well negotiated incentives.  
In addition, there are often additional incentives left over from the fitout to be contributed towards rent reductions or rent free periods. Many tenants whose fitout, building and location meets their needs may elect to allocate the entire incentive towards rent to drive down operational costs.  
The best opportunities for tenants at the moment are in the Sydney and Melbourne CBDs, as this is where incentives for office space were proving to be the highest. Incentives in the Sydney CBD range from 22% to 30%, with B-grade space in the southern precinct having the highest incentives of 28% to 30%. There are instances in particular buildings with large vacancy where incentives are pushing above 30%.  
The Melbourne and Brisbane CBDs are not far behind, with incentives ranging from 20% to 30%. Meanwhile, incentives in the Adelaide CBD range from 5% to 20%, in the Perth CBD they range from 5% to 10% and in Canberra they range from 8% to 20%.  
While tenants clearly secure a benefit from incentive arrangements, it is not only the tenant who benefits. It is a win-win for the tenant and the landlord, as the landlord retains or secures a tenant on a long-term lease, locking in their cash flow with no let-up time. The opportunity cost of a tenant vacating is significant, with let up time for larger space between six to 18 months in addition to building upgrades required to attract new tenants.  
As well as securing incentives, office tenants also have the opportunity to negotiate on clauses in their lease agreements that are more difficult in an environment that favours landlords, such as rent reviews, expansion/contraction clauses and ‘make good’ provisions. This type of flexibility is essential for tenants in the current economic climate to enable growth and contraction to meet an organisation’s changing needs. The office environment will need to be able to adapt to the changes in the business over the entire lease term, which includes being able to expand or contract the head count in the same amount of space.  
Tenants have a further opportunity to approach landlords to make upgrades to their buildings – for instance bathroom, air conditioning, lighting, carpet or lobby upgrades. Landlords are likely to cooperate when it comes to these requests, given their desire to retain tenants and ensure their asset remains competitive in the market.  
One of the other major benefits of the current market for tenants is the opportunity to snare a newly refurbished space for great commercial terms. Due to an increase in new supply in most markets over the next two years, a major trend will be an increase in backfill space due to large tenants consolidating their operations and moving into new developments providing superior quality accommodation. We will see this for instance with Westpac, and KPMG moving in to the Barangaroo development. As large tenants move to new spaces, landlords will be forced to upgrade their buildings through refurbishment to attract new tenants and they will also be forced to offer high incentives for the backfill space to attract tenants.  
Over the past six months we have already been witnessing a significant increase in activity in the sublease market - better sublease space is being made available in the wake of major companies reducing headcount and seeking operational cost savings. Consequently this space is competing with new space that is available at greatly reduced rentals, often with high quality fitouts included in the offering.  
In addition to negotiating with their landlords to get a better deal, tenants looking to save money should also look at reconditioning the workplace to potentially create greater efficiency and reduce the space required to operate. Lease expiries give tenants the opportunity to reconsider their accommodation needs and explore ways to reduce their footprint to save costs.  
Tenants looking to consolidate their operations should look at how their existing workplace supports their business strategy and consider whether their work settings actually support the ways their teams work. For instance, it might be worth evaluating whether every employee actually needs a designated desk. We find that typically, just over half the available desks are in use at any one time in an office. It is rare for staff numbers to break an 85% occupancy rate, which means many businesses may have more space than they actually need.  
Workplace technology is another area where businesses can make savings. For instance, most organisations will only update their telephony systems and update their network infrastructure when they are relocating. This means long-term occupiers could be losing their competitive edge by failing to provide technologies that enable workplace mobility. Technological mobility is a major consideration for businesses looking to consolidate as it allows greater density within an existing footprint.  
Simon Crouch is national director of tenant representation at <a href="https://www.colliers.com.au/" target="_blank">Colliers International</a>.
</body></html>

scrouch-jEaruuK9Wi

Tenants have the upper hand in the current commercial property market: Simon Crouch

<html><body>
We are driving less. Our per capita travel by private vehicle has been dropping over the last ten years.  
For mine, the cost of petrol is an obvious reason, though I think technology has something to do with it too, what with the dramatic impact it has on our ability to stay put while connecting (well, if you want to call it that) with just about anyone, anywhere, anytime – without even having to sit upright.  
But what’s on the mind of many of us actually driving is traffic congestion.  
Alleviating congestion has become a focus of city planners, but how congested, really, are our cities? Some science behind the whinge might help matters.  It usually does.  
And to the rescue comes the Dutch manufacturer of automotive navigation systems, TomTom (without the Lone Ranger), which has undertaken extensive studies on congestion levels in urban areas around the globe and has come up with the TomTom Congestion Index on traffic movement by location, time and day.  
Here are a few pertinent stats for Australia and New Zealand (yes they do have traffic there too!) and if you want to download the complete study, you can <a target="_blank" href="https://www.tomtom.com/congestionindex">go here</a>.  
Most congested cities – Sydney and Perth.  
Least congested cities – Brisbane (hard to believe hey!) and Canberra.  
Congestion levels – Sydney’s overall score is 33%, the same as Los Angeles – the most congested city in the United States – and far less than the most congested city in Europe – Moscow 66%.  
Perth gets 30%; Melbourne and Adelaide 28%; Brisbane 25% and Canberra 18%.  This compares to Auckland and Christchurch 28% and Wellington 24%.  
Congestion here is measured 24/7 and not just during peak hours.  
Morning peak hour – Sydney wins most congested and rises to 70% which even exceeds LA’s 56% (we feel your pain, Sydney); Melbourne moves into second place (56%); followed by Perth (55%); Adelaide (50%); Brisbane (45%; and Canberra (41%).  
Top three increasing in congestion – Perth, Melbourne, Sydney.  
Top three decreasing in congestion – Auckland, Christchurch and Brisbane (It still doesn’t help when stuck in traffic on Moggill Road!)  
Likely delay per hour driven in peak periods – Brisbane 28 minutes; Canberra 22m; Adelaide 28m; Melbourne 33m; Perth 33m; Sydney 40m.  Across the ditch: Auckland 40m; Christchurch 30m; Wellington 36m.  
So I assume from this that Brisbane’s traffic congestion is kinda okay, until shite hits the fan somewhere, and it gridlocks up, causing, on average, 28 minute delays, during peak periods.  
Best peak periods of the week – For Brisbane, Adelaide, Melbourne, Perth and Sydney, the best peak periods occur Mondays pm and Fridays am.  For Canberra, best peak periods are Fridays am and pm – in other words, they only work a four-day week in the nation’s capital.  
Worst peak periods of the week – Tuesdays am for all cities except Canberra (Wednesdays am); and Thursdays pm for all cities except Perth (Wednesdays pm) and Sydney (Fridays pm).  
My comments  
The market is placing much higher value on convenience.  Travel times are part of this.  But I think living downtown or closer to an urban centre, has more to do with amenity and being able to walk to things, rather than the time saved when it comes to driving to work, shopping, schools etc.  
We are seeing this when it comes to new subdivisions.  Those developments that spruik easy access to surrounding facilities, are not as attractive as those projects which offer the amenity within the development itself or within a pleasurable walking distance.  
We will not give up our cars.  We might not drive them as much, but far too many things can only be accessed by private vehicle.  Urban consolidation doesn’t equate to fewer actual cars, just fewer and shorter driving trips.  
The market (both buyers and renters) still places a premium on cars.  It is very difficult to sell a new one-bedroom apartment in inner Brisbane without a car parking space for over $350,000.  But buyers pay well over $400,000 for a one-bedroom apartment with a car space.  The premium for the car space within a new inner Brisbane development ranges depending on location, but averages close to $75,000.  The apartments with car spaces – being one space for a one-bedroom apartment and on those rare occasions these days, two spaces for a two-bedroom apartment – mostly sell first.  
Don’t believe me?  Well you ask a downsizing baby boomer couple - who are looking to leave suburbia and live a more urban lifestyle and who can only afford to buy a two-bedroom/one car space apartment – who is going to forego their car? Icy silence.  And wave bye-bye to that sale.  
Where are the Lone Ranger and Tonto when you need them?  
“Hey Kemosabe, maybe a townhouse might do the trick!”
Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au/" rel="nofollow" style="font-size: 14px;">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read<a target="_blank" href="https://www.matusikmissive.com.au/" rel="nofollow" style="font-size: 14px;">Michael’s Blog</a> or follow him on <a target="_blank" href="https://www.facebook.com/ThinkMatusik?fref=ts" rel="nofollow" style="font-size: 14px;">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow" style="font-size: 14px;">Twitter</a> or connect via<a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
</body></html>

michaelmatusik-49YzLvdmNv

Despite traffic congestion, we will not give up our cars: Michael Matusik

<html><body>
Sydney remains the preferred location of choice for Australia's biggest companies with around 36% of the companies listed on the S&amp;P ASX 300 headquartered in the city.
And it is set to grow in prominence in the coming years with the S&amp;P ASX All Ordinaries Index up 23% from May 2012 to mid-February 2013.
"Historically, there is a lag of between one and three years from movements in the All Ordinaries to net absorption in the Sydney CBD," according to a new Sydney office report by Andrew Ballantyne and Tim O’Connor of Jones Lang LaSalle.
<img alt="ASX_300_headquarters" height="311" width="470" src="/images/stories/april23maitland/ASX_300_headquarters.jpg">
Perth, with its mining boom attracting resource companies to lease in the city, is not far behind Sydney with about 80 of the S&amp;P 300 based in the WA capital city.
Melbourne is third and Brisbane fourth, according to Knight Frank.
"Sydney is the headquarters of corporate Australia.
"As such, Sydney is the finance and administrative heart of Australia. 
"The market capitalisation of the Australian Stock Exchange is $1,400 billion, making it the ninth largest stock exchange in the world.
</body></html>

Sydney CBD remains the capital for big business headquarters: Chart of the week

<html><body>
The decision by Fivex Commercial Property to convert office space on Flinders Street into retail space for <a href="/news">Japanese gift and homewares retailer Daiso</a> is likely to herald a trend across Melbourne as large ground floor retail space becomes scarcer. 
The first floor in Fivex's 'Riverview House” across the road from Flinders Station, and previously tenanted by the Commonwealth Bank, is currently being converted into a Daiso store, accessed via escalators. 
The move is in line with Fivex’s plans to reposition the use of the building with another floor in the building being converted into a gym and another is being transformed into a child-care centre. 
A digital advertising board  was recently wrapped around the first floor of the building on the corner of Flinders Street and Elizabeth Street to generate a seperate source of income. 
The Daiso deal has an upside for both tenant and landlord: the landlord receives a higher rent for the retail space then he would if it were office space while the tenant pays a lower rent then they would if they had leased a ground floor space, though without the passing foot traffic. 
The lease was negotiated by Ben Tremellen, Colliers International retail leasing manager, who tells Property Observer that international retailers are struggling to find large ground floor spaces in the Melbourne CBD. 
He says new international retailers all require at least 500 square metres of space and they all want to be on Collins Street between Elizabeth and Swanston Street or on the Bourke Street Mall. 
“It’s near impossible to find this sort of foot print,” he says. 
“There are definitely a lot of office landlords seeking to activate the ground floor and level one and provide space for those retailers that can’t get a footprint on the ground floor,” he says. 
Converting from office to retail could also become an option for some office landlords who can’t secure tenants in the lower floors of some of their buildings. 
The Melbourne office market is expected to soften further over 2014 and move increasingly in favour of tenants over landlords. 
BIS Shrapnel forecasting the vacancy rate to hit 10% by the end of the year. 
The Property Council of Australia recorded the highest CBD office vacancy rates in Flagstaff (13.9%), the Western Core (8.2%), Eastern Core (7.1%) and Spencer Street (6.9%) in its most recent office market report.
Retailers seeking prime Melbourne CBD space may also not have the appetite for the high rents charged on Bourke Street. 
According to Knight Frank, "super-prime" rents on Bourke Street Mall range from $7,500 per square metre to $10,000 per square metre.
</body></html>

Office-to-retail conversion a growing CBD trend as ground floor space dries up: Colliers International

<html><body>
It's refreshing to see a positive response to the ABS housing finance data from Master Builders Australia.
It says the figures show further signs of green shoots and that confidence may be returning to the housing sector. A pleasant contrast to the constant negative rantings from the Housing Industry Association.
The Housing Industry Association has meanwhile embarked on a national program of misinformation. In doing so, it is set to confirm its reputation as the least credible and most ineffectual of the bodies claiming to represent the real estate industry.
The HIA is running radio and <a href="https://www.propertyobserver.com.au/industry-news/hia-has-50-action-ideas-to-invigorate-the-housing-industry/2013050561050" target="_blank">print advertisements</a> in a campaign which “aims to place housing issues squarely on the national agenda”. It says it will highlight the distressing “facts impacting new housing”.
It outlines the six “facts” that underpin its arguments but this is where the campaign has failed barely before it has started. Its claims are not facts, but a motley collection of opinions, predictions and rubbery statistics.
Here are the HIA’s claims and the reasons they don’t stand up to scrutiny.
“FACT: This year, Australia will build 25,000 less homes than we did a decade ago.” This is not a fact. It’s a prediction. How can a forecast be a “fact”?
“FACT: Building and construction has contracted every month for the last 34 months.” This is plain wrong. The HIA itself issued a press release last month describing a 3.1% rise in building approvals. The trend for building approvals is a steady rise over the past 12 months. In the year to March, residential building approvals were up 3.8%. Commencements have been trending upwards over the past six months or so – NSW, Queensland, Western Australia and the Northern Territory have all recorded annual increases in building commencements.
“FACT: Over 1 million Australian workers in building and construction watch helplessly as building keeps falling, knowing their jobs are at risk.” This is not a fact, either. It’s a piece of sensationalist speculation. Does the HIA claim to know the mind of every worker in the industry? I know many people in the building industry who are optimistic. In many parts of the country, building is booming (including in Perth, Darwin and many parts of Queensland) and workers do not share the HIA’s entrenched pessimism.
“FACT: Severe drops in new housing have forced many manufacturing and small businesses to close with risks of further layoffs.” As described earlier, building approvals have risen nationally. Where are the severe drops in new housing taking place? Certainly not in central Melbourne, nor in Perth, nor Darwin, nor the Toowoomba region, nor the Hunter Valley, nor Gladstone, nor many other parts of Australia. This is empty rhetoric, unsupported by “facts”.
“FACT: Taxes, levies, fees and charges account for 40% of the cost of a new home.” This is one claim by the HIA that has some validity. Studies have found that approximately 40% of the cost of a new house is made up of government taxes and charges, but these are HIA figures. To be credible, the association needs to explain, in detail, how those figures are made up. The association has a history of rubbery figures.
“FACT: Australia will need 1.3 million new homes built by 2020. At the current rate of building, more than 150,000 families will miss out on the home they've waited for.” Again, this is a prediction, not a fact. It’s a guesstimate based on economic modeling which has proved faulty in the recent past.
The HIA also claims in its press release material that there are growing rates of unaffordability, yet its own quarterly index records eight consecutive quarters of improved affordability.
The HIA calls on governments to act. It does not, however, say what it wants government to do. It simply implies that all the issues are the fault of politicians.
Government red tape is part of the problem but it’s not the whole problem.
Nor does the HIA say what it and its members plan to do. Apparently they’re helpless and clueless. It claims a chronic shortage of housing – why are its members not frantically building new dwellings?
Until the builders and developers who are members of this impotent organisation acknowledge they are part of the problem and propose solutions from within the industry, the HIA will remain the most dormant, frustrated and pointless body in the property industry.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
</body></html>

terryryder-YECXbqmri2

Refreshing approach from MBA but not the HIA: Terry Ryder

<html><body>
The 2013 Federal Budget has a $112 million pilot to assist age pensioners to downsize their homes.
It will provide a means test exemption of up to $200,000 for ten years.
The new pilot sceheme follows the Panel for Positive Ageing having identified housing as one of the major challenges of an ageing population.
The age pension assets test doesn't measure the value of a family home, but after it is sold the cash proceeds can trigger a reduced pension eligibility.
"We will trial a new measure at $112.4 million in funding to assist senior Australians to downsize to a home more suitable to their needs without reducing their age pension," Mr Swan said.
From 1 July 2014, senior Australian homeowners who have owned their family home for at least 25 years and who decide to downsize will have the option to invest surplus funds (up to $200,000) in an account.
News Ltd papers indicated the Families Minister Jenny Macklin suggested there will be 30,000 seniors able to sell up and have their home proceeds protected from the age pension means test if they place the bulk of their sale proceeds into a special bank account.
Property Observer understands that those moving into residential aged care will not be eligible.
The funds invested in the account and earned interest, will be exempt from the age pension means test for up to 10 years.
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years.
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The age pension is the largest item of expenditure in the Federal Budget each year.
The means-tested pension commencing at age 65 for males and (currently) 64 for females but is set to be adjusted to age 67 over the next decade.
As at March 2012, the full age pension was $695.30 a fortnight for a single person and $1,048.20 a fortnight for a married couple. There was also a pension supplement for singles of $60.20 a fortnight ($90.80 for couples). The assets test is updated several times annually.
<div title="Page 8" class="page">
<div class="layoutArea">
<div class="column">
The means testing that is applied to the pension consists of an income test and an asset test. The payment received is the lower amount determined by the two tests. The family home is exempt from the assets test.
<div title="Page 8" class="page">
<div class="layoutArea">
<div class="column">
Currently a single homeowner with assessable income less than $152 per fortnight, and assets outside the family home of less than $192,500, is entitled to receive the full pension of $695 per fortnight plus a pension supplement of $60.20 per fortnight.
Every dollar of income above the income test threshold reduces the pension entitled by 50 cents per fortnight, and every $1000 of assets above the asset test threshold reduces the amount of pension by $1.50 per fortnight.
</div>
</div>
</div>
A recent Rice Warner actuaries reports noted a partial pension was payable for home owning couples with earnings up to close to $2,500 per fortnight and with over $1,000,000 in non-housing assets.
<div class="page" title="Page 9">
<div class="layoutArea">
<div class="column">
"For example, a couple who are homeowners with non-housing assessable assets of $750,000 and assessable income of $45,000, are eligible for a considerable part age pension payment of over $10,000 per annum, and those with even higher income and $1 million in non-housing assets are still eligible for a partial pension," it noted.
<div title="Page 9" class="page">
<div class="layoutArea">
<div class="column">
"Apart from the overly generous exemptions for home ownership, the means testing provisions generally ensure that those who are relatively well off do not receive a full age pension.
"However, means-testing has become a complex and inconsistent system,' it added.
</div>
</div>
</div>
 
</div>
</div>
</div>
</div>
</div>
</div>
 
 
</div>
</div>
</div>
</body></html>

Federal Budget's trial program encourages downsizing to smaller homes without affecting aged pensions

<html><body>
The value of commercial finance commitments rose 1.5% in March to $29.64 billion, following a rise of 0.9% in February, according to the latest seasonally-adjusted data from the ABS.
The rise in March and February followed a 9% fall in January with commercial lending continuing to trend downwards.
In trend terms, loans for commercial purposes were down 1.1% over March.
Revolving credit commitments rose 4.7%, after a fall of 6.3% in the previous month.
Fixed lending commitments rose 0.4%, following a rise of 3.4% in the previous month.
The value of commercial mortgage commitments for the purchase of housing for rent or re-sale trended up 1.4% in March 2013 and the seasonally adjusted series rose 4.6%.
The value of total personal finance commitments (credit cards, personal loans) rose 0.6% in seasonally adjusted terms.
Fixed lending commitments rose 10.1%, while revolving credit commitments fell 11.8%.
The value of total lease finance commitments trended down 0.6% in March 2013. The seasonally adjusted series fell 4.1%, after a rise of 1.6% in February 2013.
Yesterday, the ABS revealed that the number of housing finance commitments <a target="_blank" href="https://www.propertyobserver.com.au/residential/mortgage-lending-surges-up-52-in-march-abs/2013051361314?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">lifted 5.2% in March</a> and 5.8% in value, led by strong gains in NSW and Victoria.
</body></html>

Commercial mortgage commitments up 1.5% in March: ABS

<html><body>
Westfield speciality tenants signing new leases in Australian malls have scored an average 5.1% rent reduction than the expired rents, according to the group’s March quarter update.
The shopping centre group completed 380 leasing deals over the first three months of the year across its portfolio of 38 malls in Australia.
Excluding new projects, the leases represented 2.2% of specialty retail space across the Australian portfolio.
The rent reductions were offered against a subdued retail backdrop with comparable specialty sales up just 0.3% for the quarter.
Westfield reported that retail sales in the quarter were negatively impacted by the timing of Easter as well as 2012 being a leap year.
“Whilst retail conditions remain subdued the productivity of the portfolio remains high at $9,863 per square metre (psm) with continuing demand for space from both domestic and international retailers,” said Westfield in its quarterly update.
"Average specialty rent for the Australian / New Zealand portfolio grew by 2.4% from March 2012 with average rent in Australia now at $1,522 psm and New Zealand at NZ$1,127 psm.
"In Australia, for the 3 months over 380 leasing deals were completed. Excluding projects, this represented 2.2% of specialty area, which were completed at rents 5.1% lower than expiring rents," 
Overall, Westfield said performance across the group's global operations over the three months to March 31 was in line with expectations.
It previously reported that <a target="_blank" href="https://www.propertyobserver.com.au/retail/westfield-top-10-malls-westfield-sydney-shines-but-bondi-junction-disappoints/2013040260098">Westfield Sydney and Westfield Liverpool</a> were the top performing mall in its Australia and New Zealand portfolio.
During the quarter, Westfield commenced $700m of new projects including the $400m redevelopment of the Mt Gravatt mall in Brisbane, the US$150m redevelopment at Garden State Plaza in New Jersey and the US$90m redevelopment at Montgomery in Maryland.
It also entered into an agreement with O'Connor Capital Partners to form a US$1.28bn joint venture comprising a portfolio of six Westfield regional malls in Florida while disposing of its joint venture interest in Brazil.
Westfield's global portfolio comprises 100 shopping centres in 4 countries with around 22,000 retail shops, 1.1bn annual customer visits and over $40bn in annual retail sales. 
The global portfolio at 31 March 2013 was 97.4% leased, up 20 basis points compared to the same period last year.
</body></html>

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News