High-profile apartment defect cases have changed the way many NSW buyers approach purchasing, putting greater scrutiny on building quality, strata records and the parties behind a development before a contract is signed.

The industry buyers are assessing today, however, is also different from the one in which cases such as Opal Tower and Mascot Towers emerged.

NSW has introduced a series of regulatory measures aimed at strengthening oversight of apartment construction, including Building Commission NSW, the Residential Apartment Buildings Act 2020 and the Strata Building Bond and Inspections Scheme. Under the latter, developers are required to lodge a bond, with independent inspections forming part of the process for identifying defects in new strata developments.

Those changes provide another layer of protection, but they haven't removed the importance of buyer due diligence.

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For purchasers considering an apartment, that means looking beyond the residence itself. Building and strata history, strata reports, the track record of the builder and developer, the condition of common property and any known or planned expenditure by the owners corporation can all form part of assessing a building before purchase.

Whether the development is already complete can also materially change what can be assessed.

An off-the-plan purchaser is necessarily buying before the finished product exists. A completed apartment, by comparison, can be walked through before contracts are signed, allowing the purchaser to see the finishes, common areas and broader building as they have actually been delivered rather than relying solely on plans and renders.

It also removes exposure to some of the uncertainties that exist between an off-the-plan purchase and completion, including construction delays, cost pressures and builder insolvency during the delivery period.

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<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a> National Sales Director Ben Hamblett said that greater focus on tangible evidence is increasingly evident among apartment purchasers.

“The biggest shift we're seeing is buyers wanting proof, not promises,” Hamblett said.

“That's exactly why we deal in completed stock - you can inspect the building before you commit - and why we've backed every purchase with a cash bond against special levies.”

At <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> in Parramatta, that emphasis on a completed, inspectable product is already in place.

The 413-apartment, 46-level tower at 12 Phillip Street is being marketed by Projects by Equitifund, allowing prospective purchasers to inspect the residences, common areas and resident facilities before committing.

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The Lennox also introduces another layer to the due-diligence conversation through Strata Surety.

The vendor-funded arrangement provides purchasers with a cash-backed bond held in their own solicitor's trust account from settlement. According to Equitifund, the bond covers any special levy raised during the applicable cover period and is provided at no cost to the purchaser.

Special levies can create an unexpected cost for apartment owners where an owners corporation needs funding beyond its existing strata contributions. Under NSW strata law, a special levy requires approval by owners at a general meeting.

Equitifund Executive Chairman Greg Huxley said Strata Surety was designed to provide something more concrete than reassurance about that potential exposure.

“Buyers have every right to ask hard questions about strata risk - the industry has given them plenty of reasons to,” Huxley said.

“Our answer isn't a reassurance, it's a bond. Strata Surety puts real money behind that confidence, held by the buyer's own solicitor, not by us.”

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For The Lennox, its completed status also means purchasers can assess not only the apartment itself, but a building that has already been occupied and operating for several years.

Completed in 2021, the $300 million development, designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, comprises one, two, three and four-bedroom apartments, with open-plan living areas extending to private balconies. Interiors incorporate engineered timber flooring, stone benchtops and integrated appliances, while many upper-level residences have views across the river and surrounding district.

Its established amenity can similarly be inspected in operation. Resident facilities include the Watermark precinct with a 20-metre pool, outdoor terrace, barbecue areas, gym, fitness studio and conference room, while ground-floor retail addresses the river walk and surrounding public space.

The Lennox is also home to the Southern Hemisphere's first fully robotic residential car park, which has now operated for several years. Its nine-level basement combines three conventional parking levels with six automated levels, accommodating 327 vehicles using technology from German firm Lödige Industries.

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The riverfront address puts The Lennox close to much of central <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a>'s existing infrastructure, including Parramatta Station, Westfield Parramatta, Parramatta Park, and the Church Street dining precinct.

The remaining apartments form part of a limited release secured by Equitifund, following the sale of the majority of residences before and shortly after completion.

The regulatory environment around NSW apartment construction has changed considerably since the defect cases that reshaped public discussion around the sector. For purchasers, however, regulation is only one part of the equation. The ability to investigate a building's history, review its strata position and, where possible, inspect what has actually been delivered remains central to making an informed apartment purchase.

At The Lennox, its completed status provides that opportunity before contracts are signed, while Strata Surety adds a financial backstop against special levies beyond the protections already provided under NSW strata law.

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Joel Robinson

Buying with confidence: What NSW apartment buyers should check beyond the defect headlines

Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

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Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

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The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

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According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

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Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

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Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

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Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

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<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

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A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

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The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

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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Nearly half (45%) all real estate investment into the Asia Pacific region is flowing into Australian commercial property markets.
This is double the next biggest markets of Japan (19% of investment) and China (18), according to Jones Lang LaSalle, with investors attracted to Australia by its transparent markets, efficient regulatory regimes supported by solid economic fundamentals and relatively high yields.
Offshore buyers of Australian commercial property are now around four times greater than those selling their investments, a trend that commenced in 2007 and which has grown more pronounced in the last three years.
“Australia punches well above its weight in terms of direct investment,” said Jones Lang LaSalle’s head of research and consulting David Rees at a retail outlook breakfast in Melbourne this week.
“Last year 29% of investment came from offshore – an all-time record.”
Rees says that while the big commercial markets of New York, London and Paris continue to attract offshore investors, a significant flow of investments into the Asia Pacific region is underway.
“They are investing in the region because of the long-term growth prospects with a big shift to Australia,” Rees says.
“Capital flows into Australia are expected to continue through 2013,” he says, highlighting that retail and office yields are broadly in line with long-term averages, and very appealing to offshore investors.
Regional shopping centre yields are around 6.32% compared with a 10-year average of 6.39% while sub-regional yields are above the 10-year average of 6.39% at 6.32%.
However, a scarcity of premium assets (sought by offshore investors) should see yields compress by around 25 basis points at the tight end of the market.
Rees says the shift to Australian commercial real estate is part of a global re-weighting to real estate as global investors shift their portfolio weightings from the large equity and bond markets to the much smaller real estate markets.
“A 1% downsizing in global equity portfolios towards non-residential real estate implies a 7.8% increase in global real estate portfolios. A 1% reduction in global bond markets in favour of real estate has a similar impact. A 0.1% re-weighting of global real estate portfolios towards Australia implies an increase of around $9 billion in offshore holdings of Australia real estate,” says Rees.
 
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Australia to continue as commercial property investment hotspot in 2013: Jones Lang LaSalle

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More evidence has emerged of the damaging impact that changes to first-home buyer grants in NSW and Queensland are having on home buyer sentiment.
First-home buyer (FHB) sentiment fell 12.8% according to the latest <a href="/news">Genworth</a> Homebuyer Confidence Index, driving a 5.1% fall in the overall index – its lowest level since 2008.
The bi-annual index, a measure of home buyer and would-be home buyer sentiment, fell from 98.4 to 93.4 over the six-month period while the first-home buyer sub-index fell from 98.5 to 85.9.
Click to enlarge
<a href="/images/stories/2013/03/genworthmarch27one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/03/genworthmarch27onethumb.gif"></a>
“Changes to incentives in New South Wales and Queensland states may be affecting FHB con?dence more broadly, with New South Wales having the lowest proportion of prospective FHBs who thought now was a good time to buy a home,” the report says.
“New South Wales and Queensland both saw a large fall in the number of FHBs in the market, according to ABS data, of 56% and 66% respectively between September 2012 and January 2013.”
In addition, mortgage stress among FHBs is rising with the report finding that 41% of recent first-home buyers are expecting difficulty with mortgage repayments over the coming year – up from 18% in September 2012. 
The fall in the overall index was primarily driven by a 42% increase in the proportion of borrowers who expect to experience mortgage stress over the next 12 months rising from 18% in September 2012 to 27% in March 2013.
“The sharp rise in the proportion of surveyed FHBs experiencing and anticipating hardship follows the removal of FHB incentives on established dwellings in New SouthWales and Queensland, which went into effect in October 2012.
“Amongst FHBs in Queensland, over-commitment/borrowing was cited as the main reason for expecting mortgage stress," says the report.
Bridget Sakr, chief commercial officer of Genworth, says the changes to government grants led to a bigger drop in first-home buyer confidence compared with the overall decline in the index.
The changes to the FHB grants impacted on the ability of FHBs to purchase the properties they want, Sakr told Property Observer.
She highlighted the findings of the report that fewer than one in four FHBs wanted to buy a new home.
Despite this sharp fall in FHB confidence, time to buy a home sentiment is still higher than it was a year ago, though it too fell from 54% of FHBs to 49% as of March 2013.
“FHBs still aspire to own a home, this has increased from last year, but most want an established home in an area they want to live,” Sakr says.
“The grant removals have hindered them from being able to do that.”
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FHB grant changes drive home buyer confidence to lowest level since 2008: Genworth

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The Melbourne property market is like an incoming tide. It ebbs and flows on the waves of confidence and buyer demand. In some cases the property market slips backwards but it always seems to get back to where it once was.
Over the last couple of years the value of many properties have slipped back by 5% to 10% but we are now seeing the <a target="_blank" href="https://www.propertyobserver.com.au/news/the-10-insights-into-the-2013-property-market-what-why-when-and-where-to-look/2012121658500">market</a> take up that slack very quickly.
For example, in November 2010 a three-bedroom villa unit went to auction at <a target="_blank" href="https://www.realestate.com.au/property-villa-vic-hawthorn-106960682">3/15 Lisson Grove, Hawthorn</a> (pictured below).
<img src="/images/stories/2013/03/armstrongmarch27one.jpg" width="470" height="353" alt="armstrongmarch27one">
At the time, the market was coming to the end of a two-year strong growth phase, but even in such a strong market nobody expected the result that was achieved.
I remember seeing a shocked crowd of onlookers when the property sold for $1.26 million. This result set a new bar for this style of property in Hawthorn and took many people by surprise.
Scarcely six months after this sale the Melbourne market had fallen to its knees and the thought of achieving a similar result again seemed impossible.
However, last weekend a <a href="https://www.realestate.com.au/property-house-vic-hawthorn-113159479" target="_blank">property</a> (pictured below) in a very similar condition and in the same development went under the hammer.
<img src="/images/stories/2013/03/armstrongmarch27two.jpg" width="470" height="348" alt="armstrongmarch27two">
Leading into the auction the agent expected the property to sell in excess of $900,000 and had a reserve around $1 million. The massive result achieved a couple of years earlier was not on the cards as far as the vendor was concerned because ‘that was a different market’.
A large crowd turned up to the auction and when an opening bid of $1 million was placed it was clear the market for this style of property had shifted in the early months of this year. When the five bidders had all been exhausted the final result was a $1.22 million sale. This was just $40,000 short of the 2010 result and $200,000 more than what the vendor would have accepted.
The property market is a unique asset class because it is not primarily an investment. Its main job is to provide shelter. Over time family units grow and fall as we get married, have families, get divorced and eventually die. As a result our living requirements are always evolving.
Over the last couple of years there has been a fear that now is not the right time to buy but the necessity to move has been building in the background.
The market has been slipping back as many buyers opted to wait for the ‘right time’. But while they have been waiting the need for that extra bedroom or smaller home has not gone away. Essentially, even though the market has been weak, the pent-up demand has been growing and now we are seeing that demand flex its muscle.
These buyers are realising that they are in a low and steady interest rate environment and they have not lost their jobs.  The need to do something – in conjunction with the fact many have the capacity to make a move – is driving the market.
Like an incoming tide the market goes through surges. This is a normal part of the market cycle and we are now seeing the market surge back to where it was in 2010.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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Melbourne property market bounces back to 2010 levels: Mark Armstrong

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Central, the retail heart of the $2 billion Central Park development in Sydney’s Chippendale being developed by Frasers Property Australia and Sekisui House Australia, will launch this spring. 
The retail precinct will comprise 20,000 square metres of retail area that will be integrated into one of Central Park’s residential buildings, <a target="_blank" href="/news">One Central Park</a>.
The retail area will cover six levels.
The street level will focus on fashion retailers and the inside of the ground floor will house a variety of fashion retailers and homeware stores.
The second and third floors will offer a mix of food outlets, bars and entertainment.
<img alt="centralmarch27one" height="248" width="470" src="/images/stories/2013/03/centralmarch27one.jpg">
Central Park has been architecturally designed by Jean Nouvel and local collaborating architect PTW Architects.
French artist Patrick Blanc and French lighting artist Yanne Kersale will also contribute to the project.
The interiors of One Central Park and Central will be designed by Koichi Takada Architects and Smart Design Studio.
<img src="/images/stories/2013/03/centralmarch27four.jpg" width="470" height="233" alt="centralmarch27four">
A main feature of Central Park will be its plans to be an urban village - with greenery growing up the sides of One Central Park and into the building themselves.
Gardens will line the escalators in Central, from ground level down to lower ground level.
 
<hr class="system-pagebreak">
A heliostat – a device that contains 320 individual mirror panels – will be fixed to the bottom of the cantilevered Sky Garden of One Central Park and will bounce sunlight through Central during the day.
At night, the heliostat will boast 3000 coloured LED lights to create a light display, designed by Kersale.
“The heliostat will become a dramatic beacon on the city skyline as well as providing a dynamic, theatrical night-time experience for Central customers as it is out intention to trade well into the evening,” says Frasers Property's CEO Guy Pahor.
Central's main access point will be via Broadway Street.
<img alt="centralmarch27five" height="516" width="400" src="/images/stories/2013/03/centralmarch27five.jpg">
Broadway experiences approximately 74,000 pedestrians movements per day and ranks in as Sydney’s third busiest pedestrian street – behind Martin Place and Pitt Street.
Pahor said Frasers was attracted to the retail potential of the area due to the youth-biased demographics of the catchment area.
“55% of the catchment comprises of young singles and couples with a higher than average disposable income which will have a major impact on retail expenditure,” says Pahor.
Pahor says the locality to Central Station was also an important component, with 168,000 commuters passing through each day.
Central will offer time flexibility with trading hours from early morning to late in the evening.
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ntrotman-Et3xWpamVh

Central Park's retail precinct set to launch this spring

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The former Port Melbourne home of the highly awarded post-production company Soundfirm has been sold by Lemon Baxter for $3.275 million.
“It’s a brilliant corner site location with the potential for future re-zoning,” says Lemon Baxter associate director Nick Bade.
The site, at <a target="_blank" href="https://www.commercialrealestate.com.au/property/2009893055/for-sale/vic/port-melbourne/offices">35 Crockford Street, Port Melbourne</a> (pictured below) is 1,041 square metres with a building area of 1,020 square metres, and currently with parking for 15 cars.
<img alt="lemonbaxtermarch27one" height="272" width="470" src="/images/stories/2013/03/lemonbaxtermarch27one.jpg">
And a few blocks away, <a target="_blank" href="https://www.commercialrealestate.com.au/property/2010124538/for-sale/vic/south-melbourne/offices">35 Market Street, South Melbourne</a> (pictured below) has been sold for $3.75 million also by Lemon Baxter.
<img alt="lemonbaxtermarch27two" height="351" width="470" src="/images/stories/2013/03/lemonbaxtermarch27two.jpg">
“A financial services company has purchased the building that boasts exposed ceilings and timber and concrete floors, a good looking office,” says  Lemon Baxter director Paul O’Sullivan.
“We have definitely noticed a renewed confidence in the commercial market through <a target="_blank" href="/news">South Melbourne</a> and <a target="_blank" href="/news">Port Melbourne</a> over recent weeks.”
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Lemon Baxter secures sales in Port Melbourne and South Melbourne

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Not only can buyers select what they want upfront, they can sometimes make some changes to the floor plans so the property better suits their needs. Almost always the first units to be sold are those in the best positions, such as corners or penthouses. Some ground floor apartments have courtyards, too. It is first in, best dressed. Investors can be found looking for these units, since they usually bring in a greater rent.
Some buyers may pick up two apartments and amalgamate them into a large three-bedroom apartment, while others may turn a two-bedroom unit into a large one-bedroom apartment. Most developers can offer buyers choices of finishes and a variety of upgrades for additional costs.
A serious chef might want the dream <a target="_blank" href="https://www.propertyobserver.com.au/demographics/kitchen-appeal-women-outnumber-men-in-home-ownership-stakes/2013031959876">kitchen</a> with the best appliances and stone benchtops, while an asthmatic would probably opt for a timber or stone floor rather than carpet.
Bear in mind, though, that changes to the plan and to fittings and finishes might push up the price, but might not have as great an impact on end value. Also, if it is an investment purchase, consider who is likely to rent it and whether they would pay more for high-quality extras.
For great tips on buying off the plan, download Property Observer’s free ebook – <a target="_blank" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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Consider customisation: tips for buying off-the-plan

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Whenever you're looking to acquire a commercial property for $1 million or more you should undertake thorough due diligence on it before making a final commitment.
However, some investors new to commercial property generally find themselves with a dilemma:
1. By carrying out their due diligence before making an initial offer, they could end up missing out on the property and running up unnecessary costs; or
2. By trying to make due diligence a condition of the contract, this may offend the vendor and derail the whole deal.
So, let's explore both of these approaches in a little more detail.
<h3>Due diligence before making your offer</h3>
Apart from incurring costs and running the risk of missing out, there is an even more important reason for not undertaking your due diligence before finalising the commercial terms of any deal.
You see, once you have completed your due diligence study, the vendor will assume your subsequent purchase proposals take account of any "defects" you may have found.
And you are then also making your offers against other buyers, who may not have been as thorough as you have.
Either way, you are at a disadvantage.
Due diligence after agreement is reached
At first glance, achieving this may seem an impossible outcome. But it all comes down to carefully framing your initial purchase proposal.
Anyway, more on that in a moment.
Once you pull it off, a post-agreement due diligence provides you (as the purchaser) with the upper hand:
<ul>
<li>You have already agreed the commercial terms of the deal;</li>
<li>The contract is conditional upon a satisfactory due diligence; and</li>
<li>You are not incurring any unnecessary costs.</li>
</ul>
But most importantly, if you do find any impediments with the property or documentation, you get a second bite at the cherry.
Sometimes, that may be reflected in an adjustment to the purchase price. And other times, the vendor will simply agree to rectify the problems you have uncovered.
Either way, you end up with an improvement to the deal already under contract.
How do you set all this up?
As mentioned earlier, it all comes down to how you frame your initial purchase proposal.
You see, most people view negotiating as an event, without realising that it is actually a process.
But even worse than that, they tend to focus solely upon one aspect: the price. Therefore, you end up with a situation where one party wins while the other loses.
Under those circumstances, to then ask for everything be "subject to due diligence" is clearly fraught with danger.
The secret lies in properly framing your initial proposal to include at least three or four items under negotiation, one of which being the aspect of due diligence.
Bottom line: Top clients are given a copy of this purchase proposal from my swipe files — which you will also receive, as soon as you become part of my <a target="_blank" href="https://howtomastereverynegotiation.com.au/">Negotiating Master Class</a>.
And armed with this, you'll then hold a strategic advantage during all future purchases you make.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a rel="nofollow" href="https://property-edge.com.au/" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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Think carefully about your commercial property purchase due diligence: Chris Lang

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Adelaide retailers will be hoping the $385 million Rundle Place development, six years in the making and which opened this week, will draw more shoppers into the CBD. 
Rundle Place features 85 shops over 22,000 square metres of retail space running between Grenfell Street and Rundle Mall as well as an 11-storey office tower covering 30,000 square metres pre-leased to the Bendigo and Adelaide <a target="_blank" href="companies/bendigo-bank">Bank</a>, scheduled to open in October.
<img src="/images/stories/2013/03/rundlemarch27one.jpg" width="470" height="303" alt="rundlemarch27one">
It has been developed by the Pacific Group and designed by retail architect Andrew Mackenzie, the Melbourne-based director of The Buchan Group.
The main entrance to the new centre is at 81 Rundle Mall.
<img alt="rundlemarch27two" height="298" width="470" src="/images/stories/2013/03/rundlemarch27two.jpg">
It will boast some retail firsts for Adelaide including  <a href="https://www.propertyobserver.com.au/retail/rundle-place-secures-canadian-fashion-tenants/2012120258220" target="_blank">three Canadian retailers</a> as well as Ted Baker, Seduce, Peter Jackson and Vince Camuto stores.
 
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It will also feature a flagship Harris Scarfe store, a Coles supermarket as anchor tenant, along with a mix of other retailers and a 500-seat food court.
<a target="_blank" href="https://www.propertyobserver.com.au/trends/cbre-embraces-flexible-working-space-in-sydney-office/2013031259832">CBRE</a> reported Rundle Place as being 95% leased late last year, but warned that the Adelaide CBD was likely to see an increase in the vacancy rate during the first half of 2013.
<img alt="rundlemarch27three" height="311" width="470" src="/images/stories/2013/03/rundlemarch27three.jpg">
"There are two reasons for this. Firstly, that there are currently several sites which are being marketed for lease, but are still occupied by the current tenant and they are likely to vacate in the first half of 2013," CBRE says.
"Secondly, there are several tenants which currently occupy space on Rundle Mall which will move to the new accommodation in the Rundle Place development when it is completed in March 2013.
"This is likely to result in very limited growth in rentals in the CBD and depending on how much vacancy eventuates and there will be a increase in the incentives landlords will need to offer to attract a tenant."
CBRE reported Rundle Mall, Adelaide's prime retail strip, as having a vacancy rate 5.3% in October 2012. The vacancy rate had increased from 3.11% in June 2012.
<img alt="rundlemarch27four" height="318" width="470" src="/images/stories/2013/03/rundlemarch27four.jpg">
Rundle Mall is anchored by Myer and David Jones and is located between Pulteney Street and King William Street.
The Myer Centre includes a 35,000-square-metre Myer store as well as 105 specialty shops and the Adelaide Central Plaza houses David Jones and 43 specialty retails.
Annual rents in Rundle Mall range from $2,400 per square metre to $4,000 per square metre, according to CBRE.
The vacancy rate in more affordable Rundle Street remains relatively low, having decreased to 1.94% in February 2013 from 2.91% in the second half of 2012.
Rundle Street, the fashion and food precinct, located between East Terrace and Pulteney Street, is anchored by a two-level Target store and Rundle Street East boasts designer stores such as Sass and Bide, Marcs and Lisa Ho.
Annual rents on Rundle Street range from $400 to $1,200 per square metre.
 
 
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Adelaide retailers hoping Rundle Place will be the place to shop

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Austere Melbourne apartment blocks separated from the street and surrounding suburb by imposing podium bases and parking lots are being replaced by developments that engage with their surroundings and create “village hall” community spaces.
Such an approach has been adopted in the design of the <a href="/news">Abbotsford</a> riverfront project on the banks of the Yarra River, a three stage mixed-use residential project by Melbourne-based developer Hamton and designed by architects RotheLowman.
The project, with the first two stages Eden and Haven currently under construction, has deliberately created a public thoroughfare to the <a target="_blank" href="https://www.propertyobserver.com.au/developments/hamton-s-riverfront-homes-the-latest-in-abbotsford-living-as-melbourne-suburb-sheds-industrial-past/2012121858496">Yarra River</a>, incorporating the shops, restaurants and cafes as well as pedestrianised pathways around the site.
As explained by RotheLowman, the design seeks to magnify the experience of transitioning from “grey urban environment to the green river’s edge” and “develops the idea that the architecture and landscape can function as an emulsifier between the fast, frenetic nature of Victoria Street and the calm, tranquil environment of the Yarra River”.
One of the key features of the development is a publicly accessible “pedestrian line between Victoria Street and the Yarra River trail” with the aim of “bringing the tranquillity of the river corridor up to Victoria Street”.
The pedestrian street acts as a place for both the public and residents to meet as well as being the main point of access to each residential lobby.
“Cyclists will also be able to access the Yarra River trail via this street, using bicycle gutters to navigate stairs.”
The project dates back to 2008 and according to Chris Hayton, principle at RotheLowman, included an extensive design process lasting 16 months prior to lodgement of the plans and which sought to collaborate with the local council.
“The council said they would consider allowing the development rise to a greater height in exchange for public amenity,” Hayton tells Property Observer.
He says the idea was to create a new link between Victoria Street and the Yarra River, which included the design of a public space even though it is on private title.
The space has been naturally designed to make visitors or residents want to head down to the river or stay and make use of it during their lunch time.
 
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Hayton says the idea was to create a “spine” with different uses coming off it including restaurants, small cafes, waterfront and offices for lease and purchase with the architectural expression changing to public-use.
No residential is included above this space.
Hayton says design is based around the concept of the “village hall” – a community hub provided by the developer that can be used by the community as they wish.
“We want people from the outside to come in and for the development to interact with the street.
“We don’t want walls of car parking as you get in developments in Southbank.
“The evolution of Melbourne is demanding it. The population is more sophisticated. If they buy or invest they are looking for a place where people will want to go and live, where they are able to walk downstairs to get their milk and where they don’t have to get into their car to kick the footy around.”
He calls it the “milk bar resurgence” and adds that the lessons can be learnt from some of the well-known failings of mixed-use developments at <a target="_blank" href="/news">Docklands</a>.
“If you buy an apartment, it’s not a bad idea to live above shops and offices. It creates a sense of place.”
Hayton says it’s something that’s happening in other cities that are more mature in their development than Melbourne.
“It’s an interesting development time for cities like Melbourne.
“We can’t just expand, growth must occur in different way, without sacrificing quality of life.
“Too often, it may be good pieces of architecture but it is not integrated within the greater context of its immediate site and surroundings,” he says.
The first stage, Eden featuring 214 apartments all of which are sold, is due for completion in 2013.
The second stage, Haven featuring 194 is currently being marketed with apartments currently under construction.
The third stage, due to feature 180 apartments is at the town planning phase ahead of marketing.
The project is being developed by Melbourne developer Hamton with the first two stages being built by LU Simon.
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Abbotsford riverfront project seeks community connection

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Median house values lifted almost 1% over February with Perth and its accompanying WA country market the strongest performers, according to the latest housing data from Residex.
The February figures suggest the housing market is gathering steady momentum with Residex recording a 0.96% gain in February following a 0.61% quarterly gain.
“Things in the financial world and the Australian housing market are looking fine and I am pleased to be delivering a positive newsletter,” writes Residex chief executive John Edwards.
Edwards pointed to the recent gains in the <a target="_blank" href="/companies/westpac">Westpac</a> Melbourne Institute Index in the March reading, following a 7.7% jump in February, the fifth consecutive month that it has registered above 100.
“Much of the population is feeling positive about the current situation.
“The housing market is presenting growth on an Australia-wide basis and the trend is moving in an upward direction,” he says.
Over the past 12 months Perth house values are up 3% to a median of $493,000.
The Perth unit market has been particularly strong, up by 11.3% over the past 12 months to a median value of $425,500.
WA country house values also lifted, up 2.24% over February and 3% over the past year to a median of $344,500.
The Perth housing market also delivered a boost to property investors with an 8% rise in weekly house rents to $470 per week and a 11.4% gain in unit rents to $440 per week.
Rents are rising on the back of declining listings and a very tight vacancy rate.
The Real Estate Institute of Western Australia (REIWA) recorded a Perth metropolitan vacancy rate of 1.9% for the January 2013 quarter with an even tighter 1.3% vacancy rate for the unit market.
The REIWA noted the diminishing level of listings in metropolitan Perth in the wake of strong population growth and improving consumer confidence, which is putting “upward price pressure and increased demand for homes”.
 
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REIWA president David Airey noted that properties listed for sale slipped to just 8,429 in March, down from 14,092 at the same time last year.
“Agents are reporting an increasing shortage of properties in popular price ranges especially around the median of $500,000," said Airey.
“REIWA data suggests that listing stock is trending downwards on the back of strong sales turnover and these properties are not being replaced with enough new listings to meet demand.
“Now that the market appears to have turned in favour of sellers, many may be holding back with the expectation of a better price in the months ahead. Until more sellers list their properties and until we get more new homes onto the market from builders, then competition from buyers will put pressure on prices,” Airey said.
The Residex figures show that Adelaide was the next strongest capital city performer after Perth in February with a 0.98% gain in its median value of its houses to $392.000.
Sydney recorded a modest 0.66% rise in its median house value to $682,500 with values up 3.88% over the past month
Melbourne recorded a modest 0.28% gain with a median house value of $556,500 with house values almost unchanged on a year ago.
Brisbane house values retreated 1.42% over February to a median of $433,000 but are up 1.41% for the quarter and 2.57% over the past 12 months.
Year-on-year Darwin stands head and shoulders as the top performing market with a 9.43% rise in its median house values to $525,000 – though there was a small 0.84% correction in February.
Darwin house rents are up 11.5% to a median of $580 per week and offers capital city investors the highest rental yield of 5.78%.
Darwin units offer a yield of 6.09% also the highest across capital cities.
Spurred on by the wealth of mining and LNG projects, the wider Northern Territory housing market continues to rise with house values up 7.9% over the past 12 months and a median value of $489,000.
Overall, the unit market tread water over February as it has over the past quarter with unit values up just 1.1% over the past 12 months with a national median unit value of $398,000.
Brisbane, Melbourne and Sydney all recorded small gains in unit prices in February with Perth the standout market over the past 12 months.
Hobart unit price are down nearly 10% over the past 12 months.
<a target="_blank" href="https://blog.residex.com.au/wp-content/uploads/2013/03/Capital-City-Property-Market-Statistics-February-2013.jpg">Click here for the full Residex breakdown for capital city and country markets over February.</a>
Photo courtesy of Flickr.
 
 
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