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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Hearty congratulations to Melbourne real estate agency PhilipWebb for deciding to stop advertising client properties in newspapers. The agency has generated publicity for deciding that newspaper print advertising is “Jurassic” in nature and that online promotion is the only way to go. It had abandoned metropolitian dailies, but stuck with regional press ads until recently.
Late is better than never, but what took you so long to have this blinding flash of the bleeding obvious?
Enlightened agencies came to this conclusion a decade ago. Jenman-approved agencies have been finding buyers for homes without newspaper advertising for at least the past 10 years.  
I have published four books on the real estate industry, the first of them in 1998, and they have all warned sellers to avoid agency pressure to spend thousands on unnecessary newspaper advertising.  
Here’s what I wrote in Property Smart in 2002: “One of the unsung scandals of real estate is the many different ways agents abuse their clients’ advertising money … Agents use this money to further their own ends rather than their clients’.  
“Agents use their clients’ marketing budget to promote themselves … Often the largest words in a real estate ad describe the agency name. One way of another the agency’s name will be prominent when in reality there’s no need for it to appear at all.”  
Evidently PhilipWebb agrees. <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/melbourne-estate-agents-philipwebb-ditch-jurassic-newspaper-advertising/2013032059992">It told </a><a target="_blank" href="https://www.propertyobserver.com.au/industry-news/melbourne-estate-agents-philipwebb-ditch-jurassic-newspaper-advertising/2013032059992">Property Observer last week</a> that print advertising was just a way for agents to get their brand noticed – at the expense of their clients.  
Property Smart also described how agencies have earned commissions or rebates from newspapers for directing their clients’ ads to those newspapers. This still happens today and is one of the great outrages in real estate. Why should agencies receive financial rewards for spending their clients’ money? If anyone should receive a reward, it should be the home seller who pays for the advertisements.  
Currently there is a court case in Victoria over an agent allegedly receiving secret commissions from a newspaper for directing vendor-paid advertising their way. The case is ongoing.
What is surprising is that there are not more such cases. Newspaper kickbacks to agencies for vendor-paid advertising have been standard in real estate for decades.
What is even more surprising is that Saturday’s newspapers are still crammed with real estate ads. This is worse than “Jurassic” – it’s a terrible waste of money by the home sellers.
Home sellers appoint real estate agents to sell their properties and pay them with a handsome commission if they’re successful. It’s scandalous for agents to ask their clients to also spend thousands on advertising. 
As consumer advocate Neil Jenman says: if the ads sell the property, why do you need an agent? Just place the ads yourself and save yourself the agents’ selling commission.
The bottom line is that no advertising should be necessary at all. Agencies are supposed to have buyers available.  
But if sellers feel that advertising is necessary to assist the sales process, the last place they should put it is in a newspaper.  
Online marketing is far more effective and less costly. It’s so much more-user friendly than the great mass of newspaper advertisements, grouped under agency banners and designed primarily to promote the agency – at their clients’ expense.
How does a Melbourne buyer interested in a four-bedroom house in, say, <a href="/news">Brighton</a>, find such properties amid the great jumbled mass of property ads in a newspaper? It's nigh on impossible.  
Compare the ease with which you can isolate properties that meet your location, type and price criteria in an online service.  
If you’re selling your home and your agent tells you that you need to budget thousands for newspaper advertising, you have appointed the wrong agent. Sack them and find an alternative that has buyers looking for property in your area and therefore doesn’t need to waste your money on advertising.  
Why blow a big chunk of your capital gain on a wasteful agent?
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
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It's ancient for agents to ask vendors to spend thousands on print advertising: Terry Ryder

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Westfield  Group  has sold half of its interest in six Westfield regional malls in Florida to O’Connor Capital  Partners for US$1.283  billion. 
O’Connor’s investment will represent a 49.9% interest in this portfolio, which has a gross value of US$1.283  billion.  
Westfield will remain as property, leasing and development manager on terms consistent with the Group’s other joint ventures. 
“This agreement carries on the Group’s strategy of introducing joint venture partners into our assets globally as well as disposing of non-core assets,” says Westfield Group co- chief executive officer Peter Lowy. 
Westfield will realize approximately US$700 million in net proceeds from the transactions. 
The transactions are subject to financing and other customary closing conditions and are expected to close in the second quarter 2013. 
Founded in 1983, O’Connor Capital Partners is a privately held, independent manager, owner, operator and developer of real estate.
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Westfield sells half interest in six Florida malls for US$1.28 billion

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Australia’s peak mortgage industry body, the MFAA has cancelled the memberships of 1,100 mortgage brokers for failing to meet new education requirements.
The terminated brokers failed to obtain a Diploma in Financial Services (Finance/Mortgage Broking Management) or equivalent qualification necessary to become MFAA Credit Advisers.
This constitutes more than 10% of the MFAA’s 11,000 strong member base.
It almost cancels out the 1,295 new members who joined the industry body over the 12 months to June 2012, the most recent MFAA annual report revealed.
In May 2012 the MFAA extended deadline for completing the diploma from June 30 2012 to January 31 2013.
The MFAA introduced the higher educational requirement in 2009.
Brokers need to obtain the qualification in order to continue membership with MFAA and use the accreditation of now being an MFAA Credit Adviser. 
“All members have been reminded of this required standard many times over the last 12 months, following the MFAA National Board's decision to actively demonstrate that members have high standards of professionalism and qualifications with consumers and regulators,” the MFAA said. "We are very pleased that more than 88% of our members are now qualified to use the new accreditation MFAA Credit Adviser, with expectations that many of those whose membership has been terminated will seek to have it reinstated within the next two months by providing evidence of the required education qualifications, “ said CEO of the MFAA, Phil Naylor. "It is very important that the sector, which now delivers more than 40% of mortgages in Australia, continues to show leadership in professional education, standards and compliance, negating the need for any further government intervention and regulation.
"With this sector providing home loans worth more than $100 billion this year, MFAA Credit Advisers are now a very important part of the financial services sector and MFAA members can now confidently display and promote their qualifications to their clients.
"I thank all of our members who have attained the new standard and accreditation and urge those who have been slow off the mark to get their diplomas as soon as possible to regain their membership status", he says.
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MFAA cancels memberships of 1,100 mortgage brokers

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The Australian Tax office will use new data-matching technology to closely scrutinise residential and commercial property sales to ensure tax payers paid the correct amount of tax.
Around 10.4 million taxpayers will face scrutinise over their property dealings with the ATO’s high tech computer systems gathering real property transaction details from state revenue offices and relevant state government land and property departments
The ATO will be keen to get maximum value out of the data-matching technology, which cost $800 million to implement over a seven year period.
"No one should underestimate the sheer volume of data the ATO now collects and with the ever-increasing sophistication of techniques to analyse and 'slice-and-dice' that data, the tax affairs of Australians will come under closer scrutiny," wrote <a target="_blank" href="https://www.propertyobserver.com.au/tax/ato-data-matching-targets-property-deals/2013011458733/Page-2">tax writer Terry Hayes</a> in January.
Last year the technology was used to match more than 649 million transactions, the Australian Financial Review reported.
The ATO will be assisted in efforts by the banks, including all the major banks and banks that service the wealthy investor market like Deutsche Bank and HSBC.
The ATO will be looking for offshore bank accounts, which may show that may show property and other hidden income for the 2009, 2010 and 2011 tax years.
“Our traditional sources of data include investment income information from banks, financial institutions and investment bodies, employment information and welfare payments.
“We obtain data from banks that identifies credit and debit card sales made by Australian businesses. This data is matched against taxpayer records to identify those people deliberately under-reporting or omitting income,” said the ATO.
In September last the ATO provided some insights into the scope of its data-matching capabilities.
“We match this data with our own information to detect those who may not be correctly disclosing all of their income.
“We also undertake large scale activities involving information exchange with other government agencies.
“We also have an agreement with Medicare Australia who provide data to enable us to administer the 30% health insurance incentives rebate, and have online access to information held by the Australian Securities &amp; Investment Commission (ASIC) and banking transactions captured by AUSTRAC.
Property investors with links to the horse racing industry were placed on particular notice:
“As well we undertake data matching projects relating to particular risks, issues or industries. For example, these could include scrutiny of property sales to detect capital gains issues or payments made to those involved in the horse racing industry,” said the ATO as part of the same statement.
The tax office will also target around 21,000 contractors who provide services to local councils using its data-matching technology to collect relevant information from local government authorities in Queensland, NSW, Victoria and Tasmania.
The ATO will also check the around 1.8 million records from Centrelink and Veterans’ Affairs, to confirm claims for dependant tax offsets made by people who received tax-free pensions or benefits in the 2011 or 2012 income years.
 
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Taxpayers face ATO “data-matching” crackdown over residential and commercial property sales

<html><body>Australian Property Monitors (APM) has released a list of results from 375 auctions in Melbourne for the weekend of  March 23. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Melbourne auction results for March 23 weekend

<html><body>Australian Property Monitors (APM) has released a list of results from 529 auctions in Sydney for the weekend of March 23. The clearance rate was 70.5%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Sydney's 529 auction results show a 70.5% clearance rate

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Moyvane, a $5.1 million <a target="_blank" href="/news">Kew</a> property was the weekend's top sale.
Melbourne's second most expensive weekend property sold was a five-bedroom <a target="_blank" href="/news">Elsternwick</a> house, Lurgancanty, which sold for $5 million.
Moyvane, a grand five-bedroom 1895 Victorian Era residence sits on a 2,648-square-metre holding directly opposite Yarra Bend Park.
It was offered for <a target="_blank" href="https://30walmerst.com/homepage">the first time in more than eight decades</a> through Jellis Craig agent Geordie Dixon.
There was a $4 million opening bid with three competing for the Walmer Street offering which was announced on the market at $4.8 million.
Lurgancanty is set on 2,200 square metres, with a pool and separate staff quarters at 59 Allison Road.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.bigginscott.com.au/property/details/9576">It sold through Bill Stavrakis at the Biggin Scott agency.</a>
Brighton had 28 scheduled auction with 24 results provided to the REIV with $2.05 million the highest recorded sale. <a href="/news">There were five higher passed in results</a>.
Melbourne's Bayside saw a lower clearance rate of 55% this weekend, a bit of a disappointment contrasting with the strong results in areas like Boroondara and Stonnington, according to James Buyer Advocates.
"<a href="https://marketnews.com.au/tag/brighton/" rel="tag" title="Posts tagged with Brighton">Brighton</a> in particular saw a number of pass-ins with no bidders at all," their weekend auction report said.
These included 1a Wellington Street, which passed in at $2,800,000, 37 Drake Street at $3,375,000, and 27 Normamby Street at $2,250,000.
"Even so, Bayside has seen a sale over $3 million almost every week so far this year.
"And more new ‘<a href="https://marketnews.com.au/tag/top-end/" rel="tag" title="Posts tagged with Top End">top end</a>’ stock is becoming available.
It includes Blair Athol (pictured below), at 5 Leslie Grove, Brighton, which is back <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2007444290">on the market after </a> selling for $8 million on late 2009 to the Horne family.
{yoogallery src=[images/stories/2013/03/march25blairathol]}
Note: the above pictures are from a previous marketing campaign by Kay &amp; Burton.
Its been listed with Nick Johnstone Real Estate, with a tender process commencing after Easter.
Set on 3,372 square metres, with pool and tennis court, its a property steeped in history with gardens originally designed by Edna Walling.
Its previous owners include Craig Kimberley of Just Jeans fame who sold it to the Tabcorp and Southcorp chief executive officer Ross Wilson in 1994 for $2.95 million, soon after relocating to Melbourne from Adelaide.
<div>
<a title="With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne" href="https://www.propertyobserver.com.au/news/super-saturday-residential-auction-success-as-results-hold-steady-in-sydney-and-melbourne/2013032360041?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne</a>.</div>
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<div>Estate agents can now march into April with further confidence vendors and buyers are on the same price page.</div>
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Kew edges Elsternwick with weekend top sale with Brighton bypassed

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The most expensive apartment sold in Sydney listed at the weekend was a three-bedroom apartment at The Residence in Darlinghurst, overlooking Hyde Park.
The unit 72/14-24 College Street was sold to a Chinese property developer for $4.55 million through CBRE agent Ben Stewart.
The 232 square metre 17th floor three-bedroom, three-bathroom apartment was developer stock.
“It was a good price. There has definitely been a significant improvement in the market this year,” he told The Australian Financial Review.
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<a href="https://www.propertyobserver.com.au/news/super-saturday-residential-auction-success-as-results-hold-steady-in-sydney-and-melbourne/2013032360041?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" title="With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne" target="_blank">With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne</a>.</div>
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<div>Estate agents can now march into April with further confidence that vendors and buyers are on the same price page.</div>
The strongest region was the upper north shore at 83%, where results for 35 auction were reported to APM.
The inner west was also strong at 76%, with the east at 73%.
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Chinese developer buys $4.55 million The Residence, Sydney in top weekend unit sale

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There seems to be a perceptible sigh of relief across Australia now that spending has started once again. As RBA deputy governor Philip Lowe pointed out in a speech last week:
“Nationwide measures of house prices have increased by around 4% since mid last year, after having declined for around 18 months. Home lending approvals and auction clearance rates have both risen. Equity prices are up over 20% since the middle of last year. And the level of consumer confidence is now well above its long-run average level. Despite what one often hears, households do appear to be feeling better about both their finances as well as Australia’s medium-term prospects.”
Mr Lowe is correct in his assessment of the housing market: conditions have improved and people are once again out and about leveraging against existing assets, and pooling their savings into bricks and mortar.
In Melbourne, according to the REIV, the overall value of residential sales at auction has increased substantially compared to this time last year. Transactions sold at auction over the first few months of 2013 currently total $1.8 billion, compared to $1.5 billion in March 2012 - and the value of private sales has also risen from $3.9 billion to $4.5 billion. It’s a remarkable improvement considering overall turnover last year was back at levels not seen since 1996 as we limped through 12 months of no perceptible growth, aside from a slight ‘uplift’ in the numbers attending both auctions and ‘open for inspections’ in December.
So is it back to business as usual? Well, for the time being maybe – except of course for first home buyers who are struggling to join the party in any significant proportion – a segment that seems to be discounted amongst those calling ‘recovery.’  Albeit, it’s clear from the Governors speech that the post GFC period, during which we’ve been encouraged to save and pay down debt, is drawing nigh.
I suspect, outside of the daily grind most endure to keep their mortgage repayments under control whilst squirreling away funds for retirement, scant thought is given to the broad concept of ‘money’ – or indeed where money essentially comes from.
Whenever we hear a speech on the housing market from the RBA, it’s accompanied by a short history lesson on the major influences that have lead to our fortuitous years of ‘boom’ appreciation, during which we’ve seen median house prices balloon some 200% – outpacing both wage growth and inflation over the same period.
For example, in one of their most recent publications cautioning on a lower growth atmosphere, we were educated thus:
“Over the past 20 years or so, upturns in the housing market have been accompanied by an increase in the growth rate of credit. But those years were also a period of structural change as the economy moved to a higher level of household indebtedness. Generations of households yet to buy their first home, or still wanting to trade up, were taking advantage of easier access to credit, which among other things had been facilitated by the shift to lower inflation and lower interest rates in the early 1990s.”
It’s a seemingly fitting non-emotional explanation to explain away the dramatic increase in prices – albeit it doesn’t quite paint the full picture of where this supply of money actually originated from.
The economist JK Galbraith coined what is perhaps the best explanation of our monetary system when he said "the process by which banks create money is so simple that the mind is repelled. When something so important is involved, a deeper mystery seems only decent."
I’m sure some reading this that will be well educated in the dynamics of debt creation – it’s no hidden secret, just rarely discussed.
However, there will be a good proportion who have yet to be initiated into the remarkable system of monetary supply that has allowed the majority of our currency – some 95% of it – to be created out of thin air through the process of bank lending.
In fact the story behind this great supply of money would make a fitting accompaniment to the unfolding plot in the film Oz The Great and Powerful. As long as we ‘believe’ it doesn’t really matter what’s occurring behind the scenes – processes which in arguably ‘less responsible’ hands ultimately lead the world to the brink of economic collapse.
And as countries around us wake up to the devastating repercussions of what can happen when ‘things go awry’ – <a href="https://www.positivemoney.org/" target="_blank">organisations</a> campaigning for a better way are slowly gaining traction.
If you have an innocent understanding of economics, you may still be under the illusion that banks make their profits by leveraging against depositors funds and thus, charging interest on the loans they advance through a process called ‘reserve ratio’ or ‘the money multiplier’ – keeping a proportion of the balance safely aside whilst extending the rest to a borrower as credit.
However, whilst no one would disagree that economics is a complex subject in its own right – this myth was debunked a long time ago – although perhaps more publicly so since the on-set of the GFC.
Importantly, the central bank doesn’t control the amount of money circulation – commercial banks do – based on their own models of risk assessment, which are arguably developed and manipulated behind closed doors.
You see, when a bank extends a loan, the figures typed into your loan account are just that – simply numbers put there on the premise that the bank has assessed you a credit-worthy individual who will honour the terms of their contract.
In the simplest sense, this loan (the figures typed into your bank account created from ‘nothing’) are counted as a ‘deposit’ – money you owe to the bank, and therefore instant ‘wealth’ upon which the bank can extend further credit into the economy.
Banks don’t have to limit themselves to lending out this somewhat fictional money based on any ratio set by the RBA – or the funds they receive from depositors. In other words, it’s commercial banks that control the level of ‘money’ (debt) which circulates in the system.
Consequently, almost all the currency out there is money which has been created and expanded through an increasing variety of financial models. Money ‘loaned’ into existence with interest attached – for which additional funds are required to service the extra repayments. As the money supply increases, so does inflation, but principally on the goods that it ‘funds’: real estate.
 
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Let me briefly recap. In almost all modern countries operating under the same system, only 3-5% of ‘real’ money originates from the government-owned mints, the rest is conjured up with the words ‘I believe’ when a bank makes a loan.
As Adair Turner, Chairman of the FSA, eloquently put it in a speech ‘Credit Creation and Social Optimality’ following the GFC in Sept 2011:
“The banking system can thus create credit and create spending power – a reality not well captured by many apparently common sense descriptions of the functions which banks perform.  Banks it is often said take deposits from savers (for instance households) and lend it to borrowers (for instance businesses) with the quality of this credit allocation process a key driver of allocative efficiency within the economy.  But in fact they don’t just allocate pre-existing savings, collectively they create both credit and the deposit money which appears to finance that credit.”
Considering banks favour lending against existing collateral over and above the support of say small business and enterprise, it should come as no surprise that the vast majority of bank lending has been towards the purchase of ‘bricks and mortar’ – and whilst the only constraint on the amount of money ‘created’ is people’s ability to service the debt – we should not be under any illusion that the RBA wouldn’t welcome a return to ‘business as usual’ in our revolving system of finance.
According to RP Data, Australia’s property market is worth an estimated $4.86 trillion, which is three-and-a-half times the value of Australia’s stock market and combined superannuation funds. Therefore, it’s no surprise that the health of our property market dominates the conversations of both those in and out of the real estate industry – an asset class towards which banks are highly exposed.
Without going into further detail, the one problem with our economic model is the requirement for boundless growth – more debt requiring more activity just to maintain the amount of money we have in circulation. Without it, we lose our jobs and our ability to service this growing supply of credit.
Collectively, we’re all in debt – and for those who aren’t, the remainder pick up the slack.  And although its broadly recognised that the initial boom in borrowing which occurred in the decades leading up to the GFC is unlikely to continue at such a rapid pace, you would be foolish not to recognise the risks associated with an economy which has its foundations pinned on a future which has to forever ‘be bigger’ in order to stay afloat.
I came across a cartoon the other day with the wording:
“Oh, The World is $40 Trillion in Debt?”
“Please, tell me who the world is in debt to?”
The answer of course, is the banks. Albeit, whilst we’re rocking along under the protection of the mother of all mining booms, underpinned with increasing demand from China, and in the throes of relatively rapid population growth, the party can seemingly continue ad infinitum.
Albeit, make no mistake - the rocky foundations are there - a younger generation slowly ‘priced out’ – for which the government can only assist through the extension of a further allowance of ‘cheap’ credit, which thus far has not produced any lasting effect.
Not to mention an ageing population who will eventually outnumber the workers, leading the ‘big Australia’ advocates yelling ‘populate or perish!’
The game of checkmate won’t change until the system changes, and the system won’t change until its hand is forced.
With these thoughts in mind, perhaps it’s time to remind ourselves what Citi's Global Head of Credit Strategy, <a target="_blank" href="https://www.businessinsider.com/matt-kings-most-depressing-slide-ever-2012-12">Matt King</a>, cited late last year as “'The Most Depressing slide” he had ever created.
“In almost every country you look at, the peak in real estate prices has coincided – give or take literally a couple of years – with the peak in the inverse dependency ratio (the proportion of population of working age relative to old and young).
In the past, we all levered up, bought a big house, enjoyed capital gains tax-free, lived in the thing, and then, when the kids grew up and left home, we sold it to someone in our children's generation. Unfortunately, that doesn't work so well when there start to be more pensioners than workers.”
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/03/cashmoremarch25.gif"><img src="/images/stories/2013/03/cashmoremarch25thumb.gif"></a>
Food for thought is it not?
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
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The need for boundless growth is a problem: Catherine Cashmore

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Swedish fashion retailer H&amp;M is joining fellow European fashion giants Zara and Topshop by venturing into Australian  retail waters.
It announced the news via its <a href="https://www.facebook.com/hm" target="_blank">Facebook page</a> on Thursday night.
“We are happy to announce that we will open our first H&amp;M store in Australia in 2014! Stay tuned for more details,” the post read.
A February Colliers White Paper <a href="https://www.propertyobserver.com.au/retail/zara-topshop-and-uniqlo-lead-retail-property-push-into-australia/2013021859421" target="_blank">notes</a> that H&amp;M has plans for 10 stores in Australia over the next few years, and is seeking 20,000 square metres of space.
H&amp;M offers affordable fashion for men, women and children.
The first store is likely to be in either Sydney or Melbourne.
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