<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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The level of discounting that vendors of houses in Sydney and Melbourne are offering to successfully secure sales has declined mildly, according to the latest information from RP Data.
However, the discounting to secure unit sales  in both major capital cities has increased slightly.
Successful Melbourne house vendors on average discounted their houses by 8.2% in the week to April 7, down from 8.4% the week prior.
Successful Sydney house vendors on average discounted their houses by 6.5% in the week to April 7, down from 7% the week prior.
Meanwhile, the rate of unit vendor discounting crept up in Melbourne from 6.1% to 6.7% and in Sydney from 4.7% to 4.8% over the same period.
<img height="360" width="470" src="/images/stories/2013/04/rpdatadiscountingapril12thumb.gif" alt="rpdatadiscountingapril12thumb">
The rate of vendor discounting isthe average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by RP Data overthe past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price havebeen excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Vendor discounting declines slightly in Melbourne and Sydney: RP Data

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The battle for the wallets of Australia’s DIY enthusiasts continues to rise with Woolworths reporting a 37% rise in sales from its growing chain of Masters stores in its latest sales update.
Home improvement sales lifted from $211 million in the third quarter of 2012 (the 13-week period to March 31) to $290 million in the third quarter of 2013.
Launched in 2011 in direct competition to Wesfarmers-owned Bunnings (which also own Coles), there are now 29 Masters stores trading following the opening of four new stores over the March quarter.
Masters, a joint venture between Woolworths and US home improvement chain Lowe’s, plans to expand by between 15 and 20 new stores a year "for the foreseeable future".
“The February ‘Trade Month’ proved to be a great success, with many new trade members signing up to the Masters’ program,” said Melinda Smith, director of Masters.
The success of Masters was also noted by Woolworths CEO Grant O’Brien, who said that "while conditions in the trade segment remain challenging, we continue to be pleased by the progress of this business.”
<a href="https://www.propertyobserver.com.au/new-south-wales/diy-battle-heats-up-with-woolworths-to-build-masters-store-in-marsden-park/2013040360133">Last week Property Observer reported</a> that Woolworths had securing a site at the Sydney Business Park (pictured below) in Sydney's north-west for a new Masters Home Improvement store, where it will go head-to-head with arch-rival Wesfarmers, which has also secured a site in the business park for a Bunnings DIY store.
<img src="/images/stories/2013/04/mastersapril12one.jpg" width="470" height="311" alt="mastersapril12one">
Yesterday, the premises of <a href="/news">Bunnings in Sale</a> were bought by a Melbourne family for $6.36 million on a yield of 7.5%, after being passed in at auction earlier in the day.
Last year Woolworths and Wesfarmers traded blows over a research report written consultancy Madison Cross on Masters with the report referred to the ACCC as being potentially "misleading".
"A Madison Cross report being circulated to brokers and media by a consultant associated with Bunnings is further evidence of a dirty tricks campaign being waged against the Masters Home Improvement business," said Woolworths in a statement in September last year. "Since opening its first store in September last year, Masters is providing much-needed competition in the destination home improvement sector against Bunnings who hold a market-dominant position. "Masters has created healthy competition, is winning market share and enjoying strong customer support. It appears this report is designed to generate negative, ill-informed commentary about Masters.  "This report is incorrect in its assumptions and its projections, and can only be viewed as an attempt to damage the credibility of the Masters’ business strategy." 
Despite the jump in sales, Woolworths has some way to go to catch up with Wesfarmers.
The Bunnings network currently comprises 211 warehouses, 63 smaller format stores, 36 trade centres and four frame and truss plants operating across Australia and New Zealand.
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Battle between Masters and Bunnings heats up for home improvement market as Masters sales rocket 37%

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Vendor confidence increased over the March quarter driven by strong performance in Sydney and Darwin, according to SQM research.
Vendors across the capital cities were confident enough to lift asking prices, bringing the national capital city asking prices up 1.3%.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/04/sqmapril5.gif" rel="shadowbox"><img src="/images/stories/2013/04/sqmapril5thumb.gif"></a>
But although the average asking price is up, Sydney, Darwin and Perth were the only cities with positive growth in asking prices.
Over the quarter, asking prices increased 4% in Sydney, 3.9% in Darwin and 0.1% in Perth. All other capital cities recorded reductions.
Canberra decreased asking prices by 3.8%, the biggest drop for all capital cities. Unit asking prices dropped 1.3%.
<a href="companies/sqm" target="_blank">SQM</a>’s Louis Christopher says it is clear Canberra’s market conditions remain weak.
“Overall the market was confident for the quarter however I note that there was a little more caution in the month of March,” Louis Christopher says.
“Melbourne is still recording some weakness and that goes with Canberra as well, which has most likely been affected by cuts in the Federal budget. Sydney and Darwin are leading the charge.
“However if it were not for the strong results in Sydney, it is most likely the national average would be recording market weakness for the quarter.”
In Melbourne, asking prices for house dropped 0.7% over the quarter while asking prices for units rose 1.1%.
Unit asking prices across the capital cities dropped 0.4%.
Hobart had the second strongest increase in asking prices for units, up 4.8%.
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Sydney and Darwin lead increases in asking prices: SQM

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An aged care and property development group had administrators appointed yesterday after the company collapsed as a result of long delays in planning approvals.
Riad Tayeh and David Solomons of de Vries Tayeh were appointed as administrators of the Crighton Group, which is made up of 15 companies.
The Crighton Group has been operating for over 25 years and has around 30 staff.
The companies now in administration are the Hermitage Lifestyle Resort, Crighton Properties, Myall River Downs, Crighton Building Co, Crighton Lifestyle Resorts Real Estate, Myall Quays Shopping Village, Lifestyle Resorts, Woodstock at Jamberoo, Crighton Bowral, Myall Down Angus Stud, Red Gum Grove, Laurieton Lifestyle Resort, Crighton Mudgee, Crighton Byron and Crighton Bathurst.
The company Hermitage Management has not been placed in administration and Tayeh said at this stage the retirement village, Hermitage Lifestyle Resort, will continue to operate as usual.
"In the main the group has been the victim of the slow and unyielding process of getting approvals for developments," Tayeh says.
It has taken 11 years to get zoning through for some developments and no company can survive that sort of delay, and with the prevailing economic conditions it could no longer continue to trade."
The Crighton Group's major creditors are the ANZ, Commonwealth Bank and St George.
Tayeh says the Crighton Group is "not a fly-by-night group" and at its full valuation had land holdings worth over $100 million. However, recent falls in value mean the valuation is now closer to $30 or $40 million.
"The thing that has really hampered this industry and similar developers has been the inability to get projects up and going that have been supported by the community, this is not a good thing for the industry," he says.
"You can't have something being held up for 11 years, some of the things they have to do to get these developments through are unbelievable."
Geoff Cox, founder and joint proprietor of the Crighton Group, said in the past the development industry has had to go through "a lot of nonsense" to get master plan approval from the Department of Planning.
In developing the Tea Gardens, Cox says ANZ lost patience after nine years in development.
"The land was rezoned as a residential parcel in June 2000, then three years later they brought through an embargo on residentially zoned land being developed unless subject to a master plan," he says.
"As part of that plan, we had to prepare a flood evacuation plan for 87 years' time for what would happen in the event of a 'probable maximum flood event', which is what happens when a cyclone comes through in the tropics – but we are not in the tropics."
Cox says the Crighton Group had to spend a huge amount of time going through computer modelling to prepare an evacuation plan for assumed residents in 87 years' time costing $250,000.
"When you look at the lunacy of that you think it is madness," he says.
"We were totally gobsmacked at what we had to go through. It's an example of the absolute nonsense the development industry had to go through to get master plan approval."
Cox says the problem is not with the department of planning but with the "nefarious government agencies" that developers are required to deal with.
"Now the banks have essentially stopped funding retirement development outside the metropolitan areas," he says.
The administration of the Crighton Group follows the <a href="https://www.smartcompany.com.au/buy-or-sell-a-business/054903-aged-care-business-falls-into-administration-after-being-struck-by-government-sanction" target="_blank">collapse earlier this year of Nepean Hospitals</a>, which operates two aged care centres in Victoria: one 46-bed operation in Bendigo and another 125-bed facility in Mount Martha.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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cwaters-YrtBR88nBe

Administrators appointed to $100 million NSW aged care Crighton Group

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The unemployment rate increased 0.2 percentage points to 5.6% in March, the Australian Bureau of Statistics (ABS) said today. 
This is the highest unemployment rate since 2009, but follows 74,000 jobs being created in February.
Analysts had forecast the jobless rate to be unchanged in March.
CommSec economist Savanth Sebastian says the March figures would be confusing for anyone "wondering what was the true state of the labour market".
"A stellar 74,000 jobs were created in February (which incidentally marked the best job creation in 13 years) followed by over 36,000 jobs lost in March and the unemployment rate has reached a three-and-a-half-year high.
"Such volatile swings in employment across two months certainly make it difficult to pick a trend. Clearly the answer lies somewhere in the middle.
"The more smoothed trend measures on employment, suggest that modest consistent employment gains are the defining feature of the current employment landscape.
"In fact in trend terms employment has consistently grown by between 9,000-17,000 jobs over the past six month. The job market is healthy but becalmed, and consistent with the performance of the broader economy," he says.
In its March update, the ABS reported the number of people employed decreased by 36,100 to 11,592,700.
Both part-time and full-time employment decreased, part-time employment down 28,700 people to 3,481,500 and full-time employment, down 7,400 to 8,111,300 people.
The decrease in total employment was mainly driven by decreases in male part-time and female full-time employment. The number of people unemployed increased by 25,900 people to 686,900 in March, the ABS reported. The ABS reported a seasonally adjusted labour force participation rate decrease of 0.2 percentage points to 65.1% in March.
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Unemployment rate rises 0.2% in March to 5.6%, highest since 2009

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Bankruptcies are at their lowest level in 17 years, new quarterly figures reveal, but rather than signalling improving economic conditions, experts believe it's become harder for businesses to chase debtors.

The numbers released yesterday by the Insolvency and Trustee Service of Australia indicated the national number of new bankruptcies fell 13.9% to 4774 – the lowest number for the quarter since March 1996.
Total personal insolvencies also declined by 11.11% to 7214 compared with this time last year. The largest decline of personal insolvencies was in Tasmania, where 17.96% fewer people declared insolvency.
Insolvency experts offered varying opinions why the insolvency figures were reduced, with some believing the increase in court filing fees for creditors makes chasing debtors too expensive, and others believing the process of tracking down an individual person is too difficult.
Business recovery and insolvency lawyer with Lawler Draper and Dillon, Hugh Milne, said some lawyers are now recommending some creditors not pursue debtors because of the high court costs.
"I spoke to some other lawyers recently and there has been an increase in fees to wind up a company, which is proving to be an issue. People are now thinking twice about going to the next stage of the process," he says.
The <a href="https://www.fedcourt.gov.au/forms-and-fees/court-fees/fees" rel="nofollow">cost of Federal Court filing fees</a> increased from $1983 to $4375 for listed companies on January 1 this year.
McKean Park Lawyers insolvency lawyer David Brett said the process of chasing debtors has become more expensive, but said businesses also find it a challenge to locate individual debtors.
"The costs in the courts have increased, but not outrageously so. It's just getting harder and harder to track down individual debtors."
"You ring up an estate agent trying to find a forwarding address and you're unlikely to get it because people are afraid they're going to be sued," he says.
Brett says there is also a distinction between chasing a company and an individual over debts.
"You have to differentiate between a personal debtor and a company. In relation to an individual, there are a few more processes you need to go through and this makes the process quite costly.
"With a person, before you can start chasing them for debts you have to get a court order; whereas to wind up a company there just needs to be a debt of $2000."
"With a person, it needs to be a debt of $5000 and you need a court order," he says.
"I spoke to some other lawyers recently and there has been an increase in fees to wind up a company, which is proving to be an issue. People are now thinking twice about going to the next stage of the process," he says.
The <a href="https://www.fedcourt.gov.au/forms-and-fees/court-fees/fees" rel="nofollow">cost of Federal Court filing fees</a> increased from $1983 to $4375 for listed companies on January 1 this year.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank" rel="nofollow">SmartCompany</a>.
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yredrup-o4Anfe78KF

Bankruptcies down to 1996 levels: Insolvency and Trustee Service of Australia 

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House prices are forecast to rise by 3.6% over the next two years to March 2015 led by WA and a rebounding Victoria, according to the latest NAB quarterly residential property survey.
Capital growth expectations in the next year are strongest in the sub-$500,000 price range, but improvements are forecast across all price levels, says Alan Oster, chief economist at NAB, who compiled the report alongside senior economist Robert De Iure and head analyst Dean Pearson.
Sentiment about the property market improved strongly over the March quarter with the index rising sharply to 35 points from in 8 points in the December 2012 quarter.
<img src="/images/stories/2013/04/nabapril11onethumb.gif" width="470" height="274" alt="nabapril11onethumb">
WA was the stand-out in terms of sentiment with its index rising from +41 points to +71 points, but there was also a strong turnaround in Victoria, with its index from -15 to +34.
Sentiment was also stronger in NSW (rising from +13 to +38 points) and South Australia/NT (-20 to +28 points).
Queensland was the only state not to register an improvement in sentiment, with its index falling slightly from +15 to +14, replacing SA/NT as weakest state.
The results of the index are based on a survey of around 300 property professionals, principally estate agents, property owners and investors.
 
<hr class="system-pagebreak">
House prices recovered in the first quarter of the year to be up 0.4%, following a fall of 0.6% over the December 2012 quarter, according to NAB modelling.
<img src="/images/stories/2013/04/nabapril11twothumb.gif" width="470" height="277" alt="nabapril11twothumb">
NAB expects house price growth to accelerate and rise 2.2% in the next year and be up 3.6% by the end of the March quarter of 2015.
However, state outlooks differ strongly with optimism highest in WA, where a 3.8% gain in house prices is forecast over the next 12 months followed by Victoria (2.4%) and NSW (2.2%).
Expectations are weakest in Queensland (1.3%).
Over the next two years, WA will remain the strongest performer (5.4%) with Victoria (3.8%) the next best.
“House price falls in Melbourne were among the heaviest in this downturn, but Victorians are now the most optimistic (after WA) with regards house price growth in the next 2 years, which are tipped to grow 3.8% (1.9% forecast previously),” says Oster.
“In NSW, property professionals see prices rising 3.5% (1.8% previously).
“Expectations were also scaled up in SA/NT to 2.8% (1.5% in December 2012 quarter) and Queensland to 2.7% (2.2% in December 2012 quarter).”
NAB modelling indicates capital city house prices will grow 1.7% through the year to March 2014 and 2.4% in the year to March 2015.
As with the state outlook, the capital city outlook varies strongly.
Price growth is strongest in Perth - up 4.2% in the year to March 2014 and 3.7% to March 2015 - and weakest in Adelaide (0.0% and 1.2%) and Melbourne (1.1% and 1.6%) the weakest markets.
“Owner occupiers are the main players in new property market, but investors - Australian and foreign - are also growing,” says Oster.
Oster notes a marked improvement in demand apparent for all types of new property but that overall demand still “relatively weak”.
He says the inner city is the most preferred location for new buyers.
Participants in new property market are still citing tight credit and affordability as “significant” constraints on new development but less so than in the December 2012 quarter.
“Improved affordability drew more first-home buyers into the existing property market in the first quarter of 2013, especially in WA.
“Stronger demand for existing property was also noted in all locations and for all property types with demand strongest for inner city and middle/outer ring houses.
“Employment security remains the biggest impediment for buyers of existing property in all states except WA, where a lack of stock is the biggest concern,” he says.
 
 
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House prices to rise 3.6% over next two years as sentiment rebounds broadly: NAB index

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The amount of time Hobart houses are spending on the market has dramatically shortened but units in the Tasmanian capital are taking more time to sell, according to the latest information from RP Data.
Hobart houses spent an average of 55 days on the market in the week to April 7, down from an average of 80 days in the week before.
Conversely, Hobart units spent an average of 83 days on the market in the week to April 7, up from an average of 59 days in the week before.
<img alt="rpdatatomapril11thumb" height="363" width="470" src="/images/stories/2013/04/rpdatatomapril11thumb.gif">
'Time on market' (TOM) is the average number of days between when a property is first listed for sale and the contract date.
The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks. The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Hobart houses sell faster but apartment sales drag: RP Data

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An investor has paid $1.41 million at auction yesterday for the 491 square metre premises of the Commonwealth Bank on a corner site in the Swan Hill CBD in the Murray River region.
Before bidding began at the Burgess Rawson auction, the auctioneer David Scholes highlighted that the Swan Hill premises were “bookended” by two ATMs in a region with a booming economy led by agriculture, viticulture and tourism.
The Commonwealth Bank has renewed its lease for a further three years until 2016 paying rent of a round $102,533 per annum, but with no further renewal terms.
However, Scholes said the bank was keen to remain in the building, which it has tenanted for many years and which was recently upgraded.
Scholes said there might also be opportunities to strata the two-storey building should the Commonwealth Bank not sign a new lease.
Bidding started at $1.2 million with a handful of bidders competing for the property in the River Room at Crown Casino.
The winning bid of $1.41 million reflected a yield in excess of 7%.
Vendors may have been motivated by Scholes’ earlier remark that “banks are making so much money, I think your rent is secure”.
The property was marketed by Raoul Holderhead and Jamie Perlinger from Burgess Rawson.
The bank premises formed part of a Burgess Rawson portfolio auction.
Earlier the premises of the <a target="_blank" href="/news">ANZ Bank in Korumburra</a> sold for $462,000 on a yield of 5.2%.
Another bank branch, the NAB outlet on Sydney Road in Kilmore, bringing in annual rent of around $39,000, sold for $800,000 to local investor after it was passed-in on a vendor bid of $820,000 – a yield of around 5%.
Bidding started at $500,000.
Ahead of bidding Scholes disclosed the bank had not yet renewed its lease, which expires in September this year.
A head of agreement is in place to renew the lease, but has not yet been finalised.
The buyer can rescind the contract if the lease is not renewed.
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Bank tenants prove popular as Commonwealth Bank in Swan Hill fetch $1.41 million at auction

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A Melbourne-based private family has bought the premises of Bunnings in the Gippsland town of Sale from hardware family Dahlsens, after it was passed in yesterday at auction. 
Dahlsens, a regional Victorian <a target="_blank" href="https://www.dahlsens.com.au/history/history">hardware chain dating back to 1877</a>, had operated a hardware store on the premises in Sale since 1974 before selling the business to Wesfarmers-owned Bunnings in November last year. 
J.C. Dahlsens Investments acquired the building premises in 2003. 
Former BRW rich lister John Dahlsen, a fifth generation Dahlsen, is the chairman of the hardware chain started when John Christian Dahlsen opened of timber yard business in 1877 after travelling to Gippsland in search of gold.
He remained involved in gold mining for 40 years while establishing the hardware chain, which today comprises more than two dozen stores across regional Victoria. 
A sale price of $6.36 million was negotiated soon after the Burgess Rawson portfolio auction at a packed River Room at Crown Casino. 
Burgess Rawson director Billy Holderhead says the yield of 7.5%, based on annual rent of around $478,000, was the “sharpest for a Bunnings freehold since April 2011”.
The most recent Bunnings sale was the store in Bairnsdale, which sold for $8.2 million in January on a yield of 7.62%. 
The Bunnings in Echuca sold for $8.55 million in November last year on a yield of 7.89%.
Bidding for the 4,700 square metre building on Macarthur Street in Sale started at $6 million and was passed in on a vendor bid of $6.25 million. 
The building stands on an 8,200 square metre island site zoned business 1, integrated with the Mirvac Shopping Centre anchored by Coles, Woolworths and Target, with 44 on-title car space and an additional 61 car spaces bordering the building. 
The property comprises three buildings – a retail centre with in-store café, a separate drive through trade centre constructed in 2003 and a separate materials storage building, all that remains of the original structure operated by Dahlsens Hardware Stores before Bunnings purchased the business in November last year.  
Bunnings has just signed a new long-term terminated in 2022 with renewal options until 2042. 
The investor memorandum notes that the tenant can request that the landlord spend $1 million during the term of the lease in exchange for paying an upgrade rent equivalent to 7.5% of the cost of works. 
Sale, 200 kilometres east of Melbourne, is the commercial and administrative centre of Gippsland catchment trade population of around 31,000. 
Recently it has become established as the principle transfer space for offshore oil and gas operations in the Bass Strait. 
Sale is in Wellington Shire with a population of around 44,000 and 3,000 businesses. 
Six out of 12 properties that formed part of the Burgess Rawson portfolio auction in Melbourne yesterday sold at auction including the <a target="_blank" href="/news">KFC in Mentone</a>, a <a target="_blank" href="/news">Midas store</a> in Balwyn and an <a target="_blank" href="/news">ANZ Branch</a> in Korumburra. 
A travel agency shop on Waltham Street in Sandringham sold for $525,500 after the vendor withdrew a $530,000 vendor bid and accepted the lower  top bid.
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