<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]

Joel Robinson

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 developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

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

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Only 10-year government bonds will deliver poorer returns than residential investment property, suggests AMP Capital chief economist Shane Oliver in his latest commentary piece following yesterday’s decision by the RBA to cut the cash rate to 2.75%.
Yesterday, Michael O'Neill chief executive of National Seniors, the consumer lobby group for older Australians complained that the cut in the cash rate would “come as a blow for seniors living off simple investments such as term deposits”.
But it could be property investors relying on income from their investment properties that could be worse off.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/05/shaneolivermay8one.gif"><img src="/images/stories/2013/05/shaneolivermay8onethumb.gif"></a>
 In the current low interest rate environment, Oliver says that housing rental yields are “relatively low at around 4%, less once allowing for costs".
And while he says house prices are likely to rise over the next year or two, returns on residential property are likely to be “constrained by still high price to income ratios”.
Oliver expects average rental yields on investment property to fall to around 3%.
“This means the desire for better performing investments and specifically higher yielding investments will remain,” he says.
Rather than buy a residential property, investors could consider commercial property held in unlisted property trusts, where average returns are around 7%.
“Commercial property (office, retail and industrial) continues to offer relatively attractive income yields, particularly for unlisted property,” says Oliver. 
Recent unlisted property trust offerings have been higher than the average 7% yield.
The latest offer from fund manager Centuria has a forecast distribution of 8% on its 10 Spring Street Fund, which will be acquiring the 10 Spring Street office tower in the Sydney CBD.
<a target="_blank" href="/news">Centuria’s 175 Castlereagh Fund</a>, which closed oversubscribed, offered a return 9%.
If not commercial property then Australian shares, listed property trusts (REITS), Australian corporate bonds and even 12 month term deposits may be a better options than residential property.
“Australian shares have rallied strongly over the last year which has seen average dividend yields decline.
“But once allowing for franking credits, the dividend yield on shares at around 5.5% remains well above the yield available on term deposits.
“Lower interest rates will also help boost the outlook for profits and may help by lowering the value of the Australian dollar taking pressure off trade exposed companies. The broad rising trend in the share market is likely to continue
“Corporate bond yields have already fallen a long way, but their yields remain above term deposit rates and are a good alternative,” says Oliver.
He says sovereign bond yields are likely to remain low making them a “relatively unattractive investment in terms of return potential”.
</body></html>

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Commercial property and shares offer better returns than residential property yields: AMP’s Shane Oliver

<html><body>
Westpac chief economist Bill Evans is tipping the cash rate to fall by 25 basis points to 2.5% in June and then to eventually bottom out at 2% by the first quarter of 2014.
Following the June rate cut, he expects two further rate cuts will be required in the December quarter of this year and March quarter of next year.
"That would see the cash rate bottom out at 2% from its current 2.75%. Having driven rates down to that level we expect rates to remain on hold through the remainder of 2014," he says.
Evans was the first major economist to correctly tip <a href="/news">the cash rate to fall to 2.75%.</a>
"There are ample precedents for a May/June move. Over the last 10 years the Bank has moved rates on four occasions in May with two of those occasions being followed up in June," says Evans in his latest market commentary. 
Evans expects that from June, the RBA will be "patient to assess the impact on domestic demand of the low rates".
"However by year's end it will become clear that further stimulus will be required to offset the impact of a softening world economy while the response to the low rates in the domestic economy will be disappointing," he says.
Evans says the really key new developments over the last few weeks have been "evidence of an even lower than expected trajectory for inflation and, as pointed out in this note, a Reserve Bank that is clearly open to further action". 
"Given this scenario we think that the most likely policy option is a follow up rate cut in June of 25 basis points which will be implemented for the same reasons as we have seen today complemented by further evidence of softening confidence and weak business investment. 
"We have also always argued that our assessment of the global economy is more subdued than the consensus. The IMF is expecting 4% world growth in 2014 – we are closer to 3%.
"For Australia's terms of trade, the peak to trough decline in the 2011–12 period was 17%, while we forecast a 2013–14 decline in the region of 10%. We have long maintained that from a world growth perspective, 2014 will feel like 2012," he says.
Furthermore, Evans says the "threat of a disruptive event in Europe remains ever present". 
"The US story does not convince us. We confidently expect that the US Federal Reserve will persist with its quantitative easing policy through most of 2014. 
"China has already begun the process of recalibrating its monetary and real estate policy settings and the support it received from the export sector in the first quarter is already receding.
"Indian domestic demand is flagging badly and the required policy support has not been adequate. Japan is something of a bright spot, but its gross acceleration will far exceed the net from a global growth perspective as it takes back market share," he says.  
"Our specific profile for the Australian dollar, which had incorporated a steady cash rate of 2.75% (with downside risks) and a softening world economy, saw the Australian dollar back at US$0.97 by June next year, partially due to a gradual narrowing of the overvaluation premium. 
"With our lower RBA rate profile there is some modest room for further moderation in the fair value of the Australian dollar with our June 2014 target being lowered to US$ 0.96. However, the key to a more significant fall in the Australian dollar is a more marked reduction in that over valuation premium – something that lies essentially outside the RBA's influence," he says.
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Westpac tips June rate cut and cash rate to fall to 2% by March 2014

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AMP Capital chief economist Shane Oliver is tipping the cash rate to fall to 2.5% noting that the housing market in particular has failed to respond to rate cuts in the manner it has done in previous easing cycles.
Figures compiled by Oliver show that house prices, building approvals, retail sales and employment growth have responded in a "modest" manner to the current easing cycle 18 months on from the first rate cut in November 2011 in comparison with much swifter responses to previous easing cycles  in 1996, 2001 and 2008 over the same time frame.
As the table below shows, home prices are currently up just 1.9% since November 2011.
This compares with an 18% increase in house prices 18 months after the RBA cut the cash rate by 50 basis points in July 1996.
They were up 30% a year-and-a-half after the start of 2001 easing cycle and 11% a year-and-a-half after the big GFC easing cycle started in September 2008.
Key variables, 18 months into rate cutting cycles
<table width="347" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="111" valign="top">
Variable
</td>
<td width="47" valign="top">
July 1996
</td>
<td width="47" valign="top">
Feb 2001
</td>
<td width="47" valign="top">
Sept 2008
</td>
<td width="47" valign="top">
Avg
</td>
<td width="47" valign="top">
Latest
</td>
</tr>
<tr>
<td width="111" valign="top">
NAB biz confidence,
index level
</td>
<td width="47" valign="top">
+5.7
</td>
<td width="47" valign="top">
+12.6
</td>
<td width="47" valign="top">
+16
</td>
<td width="47" valign="top">
+11.4
</td>
<td width="47" valign="top">
+2
</td>
</tr>
<tr>
<td width="111" valign="top">
Consumer conf, index level
</td>
<td width="47" valign="top">
101.7
</td>
<td width="47" valign="top">
105.6
</td>
<td width="47" valign="top">
117.3
</td>
<td width="47" valign="top">
108.2
</td>
<td width="47" valign="top">
104.9
</td>
</tr>
<tr>
<td width="111" valign="top">
Retail sales, % gain since first cut
</td>
<td width="47" valign="top">
+5%
</td>
<td width="47" valign="top">
+9.8%
</td>
<td width="47" valign="top">
+8.4%
</td>
<td width="47" valign="top">
+7.7%
</td>
<td width="47" valign="top">
+4.5%
</td>
</tr>
<tr>
<td width="111" valign="top">
Home approvals, % gain since first cut
</td>
<td width="47" valign="top">
+18%
</td>
<td width="47" valign="top">
+60%
</td>
<td width="47" valign="top">
+35%
</td>
<td width="47" valign="top">
+38%
</td>
<td width="47" valign="top">
+5%
</td>
</tr>
<tr>
<td width="111" valign="top">
Auction clear rate, % – Syd, 4 wk avg
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
70.6%
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
73.6%
</td>
</tr>
<tr>
<td width="111" valign="top">
Auction clear rate, % – Melb, 4 wk avg
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
78.7%
</td>
<td width="47" valign="top">
NA
</td>
<td width="47" valign="top">
68.9%
</td>
</tr>
<tr>
<td width="111" valign="top">
Home prices, % gain since first cut
</td>
<td width="47" valign="top">
+13%
</td>
<td width="47" valign="top">
+30%
</td>
<td width="47" valign="top">
+11%
</td>
<td width="47" valign="top">
+18%
</td>
<td width="47" valign="top">
+1.9%
</td>
</tr>
<tr>
<td width="111" valign="top">
Employment, % gain since first cut
</td>
<td width="47" valign="top">
+2.1%
</td>
<td width="47" valign="top">
+2.4%
</td>
<td width="47" valign="top">
+1.5%
</td>
<td width="47" valign="top">
+2.0%
</td>
<td width="47" valign="top">
+1.5%
</td>
</tr>
<tr>
<td width="111" valign="top">
Private credit, % gain since first cut
</td>
<td width="47" valign="top">
+14%
</td>
<td width="47" valign="top">
+16%
</td>
<td width="47" valign="top">
+2.5%
</td>
<td width="47" valign="top">
+11%
</td>
<td width="47" valign="top">
+4.5%
</td>
</tr>
</tbody></table>
Source: NAB; Westpac/Melbourne Institute; ABS; Australian Property Monitors; RP Data/Rismark, RBA, AMP Capital 
“The basic issue in Australia is that the slowdown in mining investment growth is now looming and we need to see a pick-up in non-mining activity to fill the gap in terms of the contribution to GDP growth,” says Oliver. 
“While this was never expected to occur smoothly, the evidence to date points in the direction of non-mining activity not picking up quickly enough.
To be sure interest rate cuts have got some traction: the home buyer market has improved with increased sales, auction clearances and house prices, consumer confidence is up and retail sales are up. 
“But the response has been tentative and weak. 
“Apart from auction clearance rates, which look solid, all of these indicators are currently below the average level they attained this far into past easing cycles. 
“Importantly, he points out that while consumer confidence has picked up, business confidence remains subdued. 
“Retail sales picked up in January and February but the level of sales is still well below where it would normally be this far into an easing.
“It’s the same story with dwelling approvals which are off their lows but haven’t seen the average 38% gain they would have normally seen by now. 
“Employment growth is also lagging,” he says.
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Cash rate to fall to 2.5% as housing and other non-mining sectors fail to pick-up “quickly enough”: Shane Oliver

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The Bank of Melbourne has cut its standard variable home loan rate by 0.25% to 6.15% per annum, effective from May 17.
Customers have taken to the bank’s <a href="https://www.facebook.com/BankofMelbourne" target="_blank">Facebook</a> page looking for answers as to why the new rate won’t be effective immediately, but are failing to secure any answers.
The Bank of Melbourne’s current standard variable home loan rate is 6.40% per annum.
A $300,000 loan from the Bank of Melbourne with the new interest rate will see a monthly repayment of $1,960 – a monthly saving of $46 compared to the previous rate.
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Bank of Melbourne cuts interest rate by 0.25%

<html><body>
Westpac chief economist Bill Evans got the timing of yesterday's cash rate cut wrong – tipping June instead of May – but believes a “further move could still possible”.
Evans, the first major bank economist to correctly tip the RBA to begin its easing cycle in November 2011, was also the first to forecast that the cash rate would fall to 2.75%, doing so <a target="_blank" href="https://www.propertyobserver.com.au/news/rba-to-cut-rates-by-25-basis-points-next-week-with-three-more-to-come-taking-cash-rate-to-reach-275-by-year-end-westpac/2012053154924">back in May last year.</a>
“The overnight cash rate has now reached 2.75% which was the target we nominated in May last year when the consensus view was that rates would bottom out at 3.25 to 3.5%," said Evans in a note following the RBA's decision yesterday to cut the cash rate. “We have been reluctant to moderate that target although have argued consistently that the risks have been to the downside and have intensified over the last month. In light of yesterday's decision we are currently evaluating the outlook," he says.
"We have consistently argued that 2.75% would be the low point but that risks are to the downside for the cash rate. We are currently assessing that outlook," he says.
The bank is tipping the cash rate to fall again by 25 basis points to 2.5% in June and then to eventually bottom out at 2% by the first quarter of 2014.
Evans says the governor’s statement indicates further easing may be on the cards.
“[Yesterday’s] statement by the governor points out that a further move is possible.
“The final paragraph of the statement makes the following point:
'The Board has previously noted that the inflation outlook would afford scope to ease further, should that be necessary to support demand. At today's meeting the Board decided to use some of that scope. It judged that a further decline in the cash rate was appropriate to encourage sustainable growth in the economy, consistent with achieving the inflation target.'
Evan said it was also significant that the Governor did not choose to use the term: 'The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target over time.' Evans has argued since May last year that a drop in the cash rate to 2.75% would not result in bank variable rates at equal record lows, given that previous rate cuts have not been passed on in full, while there has also been small increases in variable mortgage rates outside of an official RBA increase.
Evans highlighted this point again in his commentary following yesterday’s decision.
“It is significant that while the cash rate has now been reduced to 2.75%, below the 2009 lows, borrowing rates are described as "approaching previous lows".
“This is somewhat of an overstatement given that official RBA statistics nominate the low point on the standard variable rate at 5.75% in May 2009 compared to 6.45% before today's decision," he says.
He adds that headline mortgage rates are "complicated by special discounts which banks consistently offer” similar to a point made by <a target="_blank" href="/news">Commonwealth Bank CEO Ian Narev</a> in February, when he said that no borrower paid the bank’s standard variable rate -  every borrower’s rate is set relative to this benchmark rate.
Were ANZ to pass on 25 basis points on Friday as the three other major banks have done already, the average standard variable rate of the big four would be 6.17% - still someway off the May 2009 record low.
Evans says the argument for the RBA to consider a further rate cut are contained in the post-decision statement.
"The description of the domestic economy has taken a step down from previous statements. Growth in the second half of 2012 is now described as 'a bit below trend' and 2013 to date is described similarly," he says.
"Employment is assessed as not being strong enough to absorb the labour force explaining the rise in the unemployment rate and probably indicating further increases in the future.The peak in mining investment is assessed as being in 2013 while the demand for credit remains relatively subdued.
"On the positive side, consumption is described as 'strengthening' and there are prospects for some increase in non-mining investment. The description of the all important housing market is fairly downbeat with dwelling investment described as 'modest firming' and asset values 'have risen'. "Of course the recent unexpectedly low print on inflation is assessed as 'a little lower than expected' while labour costs have moderated slightly and productivity growth appears to be improving. "Finally the governor once again points out the unusual elevated level of the exchange rate given that export prices and interest rates have fallen markedly over the last 18 months with the exchange rate remaining relatively steady," Evans says. 
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Scope for more rate cuts says Westpac’s Bill Evans, the first to tip a 2.75% cash rate

<html><body>
You’re sitting around a table with friends one night, downing a couple of glasses of red.
The conversation turns to property investment, and how hard it is to get into the market. Emboldened by the wine, someone suggests beating the affordability barrier by pooling your resources and buying a property together.
In principle, it’s a great idea. By clubbing together, you’ll be able to afford a better quality investment property than you could as individuals.
What’s more, your individual share of the mortgage is likely to be smaller than if you’d purchased on your own, which gives you more room to breathe financially.
Buying with friends can work well — provided that everyone has clear and consistent expectations before entering into the arrangement.
It’s wise to draft a written agreement covering the key aspects and likely eventualities of the arrangement. You can do this yourselves, however it can be a complex undertaking so it may be best to see a solicitor with a specialist knowledge of contracts.
One of the most important considerations the agreement should cover is how long you intend to hold the property. Is this a short-term proposition, e.g. three to five years, or a long-term commitment?
Ideally, you should hold residential investment property for at least seven to 10 years to ride out market fluctuations and make the most of compound capital growth. However, even with the best of intentions, unforeseen changes in the lives of the owners means there may come a time when it’s no longer appropriate or viable for one of them to continue the arrangement.
For this reason, the written agreement should address a range of possible life changes. For example, what will happen when one owner wants to sell their share of the property and free up funds to buy a home of their own to live in, start a family, or return to full-time study?
What if one owner wants to buy the others out? How will the price be determined? What will happen if one owner loses their job, can’t work due to illness or injury, or dies?
The agreement should cover the dollar amount each person will commit to the investment, and the ownership split in percentage terms. It’s also worth including a reference to the terms of the contract you and your friends have with the lender. If you are borrowing money for the purchase, the lender will consider each of you ‘jointly and severally liable’ for the debt.  
In other words, if one of you is unable to meet your repayments, the lender can hold the other borrowers liable for your share of the debt, and can take action to recover it from them.  
To minimise this risk, each borrower should take out the relevant insurances such as life insurance and income protection insurance which will help cover their financial commitments in the event of illness, injury or death.
Your agreement should also detail nuts-and-bolts issues such as who will have responsibility for day-to-day management of the property.  
Who will deal with the lender or broker, liaise with the property manager and (if relevant) body corporate? Who will ensure that council rates bills, insurance premiums and maintenance fees are paid on time and in full?
If you have to make an insurance claim and you find out your policy has lapsed, no-one wants to hear the fateful words: “I thought you were handling that.”  
The written agreement should also detail the procedure to be followed if there is a dispute amongst the owners. Whilst this may sound a little rigid or over-the-top (after all, you wouldn’t be buying with them if you didn’t think you could resolve problems) it’s important to look at the agreement in the cold light of day.
Remember: you are entering a business deal, not a social arrangement. The shared values and common interests that bind you together as friends won’t necessarily translate to a business environment.
When you buy with friends, you may benefit initially by spending less than you would on your own, but you also carry a greater risk of the venture failing due to conflicting expectations about managing change.
There’s little point risking a friendship over money—so for everyone’s sake, agree on the terms of the deal, put it in writing and then get on with business. This way, you’ll not only stand to gain financially, but maintain your friendship as well.
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 home buyers.
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Buying property with friends can work but proceed with caution: Mark Armstrong

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One of my favourite and most exciting research criteria when looking at areas to invest is infrastructure projects.
When a government or private sector announces a new infrastructure project, history tells us that it will boost the local community. Infrastructure projects yield indirect benefits through the supply chain, employment, business and retail growth, consumer spending, social benefits of community development related directly to the project and my favorite, property values increase.
The increase in property values that is associated with the construction of that piece of infrastructure goes beyond what would be perhaps the case of the normal appreciation of property.
I have been told there are two stages of a major infrastructure project that most affect property values. A spike in values will take place shortly after the announcement of a major new infrastructure project and then again when the project is completed and functional and the benefits of the project are realised.
I’ve seen this first hand with the announcement of the Hunter Expressway a $1.7 billion road project that will provide a dual carriageway linking the F3 to the New England Highway.
The project was announced in the 2009 federal budget but had been originally proposed back in 1988. It has been a long time coming.  What I saw after the announcement was a distinct demand in the areas impacted by the project, particularly around the interchange areas and where the highway would finish.
A development project we have completed for clients in one of these towns is testament to the impact the Hunter Expressway has had.  The development site was a three-bedroom house on a large block. The development strategy was to renovate the house, build two three-bedroom villas and subdivide.
Something amazing happened and the equity creation in this project was phenomenal. The land benefited from capital growth at the same time we were developing it.  So the normal equity we create through the development process was almost doubled due to the capital growth during the development period.  To add to that, the house was rented and still is, at a record high rent by construction workers employed in the project.
The cherry on the top for our clients will come later in the year when we hope to see that second spike and increase in property values when the Hunter Expressway is finished.
We are looking forward to seeing the impact the opening will have. For me the benefits will be twofold; firstly my clients in many of the Hunter towns we work in will benefit as we’ve been busy developing in these areas for the past ten years and secondly, it will shorten my travel time each week when I do my site inspections. I am really looking forward to cutting about 45 minutes off my trip to Muswellbrook!
Jo Chivers is director of <a style="font-size: 14px;" title="Property Bloom" href="https://www.propertybloom.com.au/" rel="nofollow" target="_blank">Property Bloom</a>, which manages property development.
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Infrastructure is key when considering where to invest: Jo Chivers

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After an extended period of little acquisition, listed property trusts in Australia have commenced buying real estate on terms which will enhance earnings yields.  
In the year to April 2013, REITs have achieved a return of 34%.  This strong performance has reduced the cost of equity capital.  Prospective listed property earning yields have fallen from 8.4% to 6.9% in the past year.  Over the same time interest rates have been reduced.  Official interest rates have fallen from 4.25% to 3.0%.  Interest rates on corporate debt have been reduced by 1.6% from 5.6% to 4.0%.  
Capitalisation rates or yields on property assets in contrast have barely moved.  Weighted average cap rates have been stable at 7.4% for all property over the past year.  Earnings yields, RBA cash rates, corporate bond yields and cap rates over the past five years are shown in the following table.
<img alt="atchisonmay8one" height="122" width="470" src="/images/stories/2013/05/atchisonmay8one.gif">
In 2009 earnings yields were well above cap rates.  Now they are lower than cap rates so that acquisition of property at current yields provide higher earnings for REITs. This will occur whether funded by cash, new equity capital or new debt capital.  
Initial acquisitions which have been made include:  
<ul>
<li>
<city>Westfield redevelopment at Mt Gravatt in </city><city>Brisbane</city>
</li>
<li>
Dexus acquiring an office building in Brisbane
</li>
<li>
Commonwealth property increasing holding in a Sydney office building
</li>
<li>
Charter Hall in due diligence on a Perth office property purchase
</li>
<li>
Mirvac considering an office portfolio purchase
</li>
</ul>
The difficulty faced by the listed property trusts is competition from international investors.  
<country-region>Australia </country-region>accounted for 45% of international direct capital into real estate in the Asia Pacific region in 2011 and 2012.
Ken Atchison is managing director of <a rel="nofollow" href="https://www.atchison.com.au/" target="_blank">Atchison Consultants</a>.
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Listed property trusts in acquisition mode: Ken Atchison

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The appeal of ungainly industrial property for private investors remains high with a warehouse/office with long term tenants at Bentleigh East in Melbourne’s south-east selling at auction for $1.115 million.

The property at <a href="https://www.commercialrealestate.com.au/property/2010363834/for-sale/vic/bentleigh-east/industrial-warehouse" target="_blank">2 Ardena Court, Bentleigh East</a>, was sold by Ray White Commercial Oakleigh’s Ryan Amler and George Kelepouris on behalf of an undisclosed vendor. 
Amler said the industrial property on a total land area of approximately 1800 square metres and currently leased for $65,000 per annum net was sold to a local investor with a yield of 6%. 
There were more than 30 enquiries for the property and three registered bidders at the auction.
Tenents recently commenced a new five by five year lease.
The property included a large clear span warehouse and well-appointed office/showroom with a building area of approximately 1200 square metres.
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Warehouse appeal for investors as Bentleigh East showroom sells on 6% yield

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Architect firm Hassell has relocated its Sydney studios from The Rocks to a new studio at the historic Walsh Bay Pier 8/9, near Barangaroo, where it will work on the redesign of the $2.5 billion Darling Harbour exhibition centre among other Sydney projects.
The new studio is in historic Pier 8/9 on the harbour’s edge off Hickson Road - adjacent to Barangaroo Headland Park, is in the heart of the emerging Walsh Bay creative industries community.
Businesses renting premises nearby include search engine Yahoo, global architect firm Grimshaw, advertising agent Leo Burnett and visual effects studio Method Studios.
Pier 8/9 was built in 1914 to store and load wool onto ships bound for Europe.
The rent has not been disclosed.
A 329-square-metre space on <a href="https://www.realcommercial.com.au/property-offices-nsw-millers+point-500508471" target="_blank">Hickson Road in Walsh Bay</a> is currently being advertised at $575 per square metre plus GST.
The new Hassell studio has a large double height creative hub that "reveals the historic fabric and function of the building while accommodating interaction, model making, meeting and forum spaces".
This space will facilitate everything from incidental get togethers,to formal presentations and even performances for larger groups.
The main studio space on the mezzanine level overlooks the hub, placing Hassell’s design process on display, visible from both the entry below and throughout the large column free workspaces.
Hassell's current projects include Darling Harbour Live - the redesign of the convention, exhibition and entertainment precinct, a new glasshouse and tropical centre at Sydney’s Botanic Garden, the new light rail project in Sydney’s CBD and south eastern suburbs, and several mixed use projects within the city and cityfringe.
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