<p>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.</p>

<p>The industry buyers are assessing today, however, is also different from the one in which cases such as Opal Tower and Mascot Towers emerged.</p>

<p>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.</p>

<p>Those changes provide another layer of protection, but they haven't removed the importance of buyer due diligence.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=372394]</p>

<p>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.</p>

<p>Whether the development is already complete can also materially change what can be assessed.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=927]</p>

<p><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.</p>

<p>“The biggest shift we're seeing is buyers wanting proof, not promises,” Hamblett said.</p>

<p>“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.”</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=375255]</p>

<p>The Lennox also introduces another layer to the due-diligence conversation through Strata Surety.</p>

<p>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.</p>

<p>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.</p>

<p>Equitifund Executive Chairman Greg Huxley said Strata Surety was designed to provide something more concrete than reassurance about that potential exposure.</p>

<p>“Buyers have every right to ask hard questions about strata risk - the industry has given them plenty of reasons to,” Huxley said.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=375281]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=925]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=5743]</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=145324 project_image_fid=372749]</p>

<p>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.</p>

<p>"Sites like this rarely become available," the developer said.</p>

<p>"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."</p>

<p>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.</p>

<p>[smartcode_project:default project_id=145324 project_image_fid=372748]</p>

<p>"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.</p>

<p>"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=145324 project_image_fid=354343]</p>

<p>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.</p>

<p>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.</p>

<p>Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.</p>

<p>[smartcode_project:default project_id=145324 project_image_fid=354347]</p>

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>"The result is a building that feels uniquely connected to Melbourne."</p>

<p>[smartcode_project_cta:default project_id=145324]</p>


How Sterling Global designed 623 Collins from Melbourne's history

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152069 project_image_fid=374394]</p>

<p>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.</p>

<p>Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152069 project_image_fid=374399]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=152069 project_image_fid=374393]</p>

<p>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.</p>

<p><a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.</p>

<p>Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.</p>

<p>[smartcode_project_cta:default project_id=152069]</p>


Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>


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

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=95289 project_image_fid=366760]</p>

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=95289 project_image_fid=366769]</p>

<p>A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.</p>

<p>“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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=95289 project_image_fid=366762]</p>

<p>The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=95289]</p>


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

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

<p data-end="294" data-section-id="19m9s1w" data-start="191">For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make</p>

<p data-end="477" data-start="296">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?</p>

<p data-end="947" data-start="479">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.</p>

<p data-end="1099" data-start="949">As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.</p>

<p data-end="1490" data-start="1101">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.</p>

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

<p data-end="1593" data-start="1521">Most Australians are familiar with independent ratings in everyday life.</p>

<p data-end="1748" data-start="1595">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.</p>

<p data-end="1930" data-start="1750">Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.</p>

<p data-end="1979" data-start="1932">That gap is what iCIRT was designed to address.</p>

<p data-end="2559" data-start="1981">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.</p>

<p data-end="2822" data-start="2561">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>.</p>

<p data-end="3082" data-start="2824">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.</p>

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

<p data-end="3254" data-start="3128">For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.</p>

<p data-end="3388" data-start="3256">It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.</p>

<p data-end="3773" data-start="3390"><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.</p>

<p data-end="3837" data-start="3775">That doesn't mean buyers should rely on a single rating alone.</p>

<p data-end="3978" data-start="3839">Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.</p>

<p data-end="4092" data-start="3980">However, an independent assessment can provide another source of information alongside those traditional checks.</p>

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

<p data-end="4188" data-start="4140">The conversation isn't only changing for buyers.</p>

<p data-end="4296" data-start="4190">Developers are also recognising that trust has become an increasingly important part of the sales process.</p>

<p data-end="4389" data-start="4298">Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.</p>

<p data-end="4538" data-start="4391">Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.</p>

<p data-end="4734" data-start="4540">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.</p>

<p data-end="4910" data-start="4736">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>.</p>

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

<p data-end="5049" data-start="4964">The influence of independent construction ratings is also extending beyond consumers.</p>

<p data-end="5281" data-start="5051">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.</p>

<p data-end="5612" data-start="5283">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.</p>

<p data-end="5770" data-start="5614">As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.</p>

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

<p data-end="5855" data-start="5803">Victoria's apartment market is entering a new phase.</p>

<p data-end="6014" data-start="5857">The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.</p>

<p data-end="6131" data-start="6016">For buyers, that means there are more tools available than ever before to research the businesses behind a project.</p>

<p data-end="6261" data-start="6133">For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.</p>

<p data-end="6464" data-start="6263">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.</p>

<p data-end="6464" data-start="6263">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>.</p>

<hr data-end="6469" data-start="6466" />
<p data-end="6861" data-start="6471"><em data-end="6861" data-start="6471">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.</em></p>

<p data-end="7088" data-start="6863"><em data-end="7088" data-start="6863">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.</em></p>

<p data-end="7191" data-start="7090"><em data-end="7191" data-start="7090">Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.</em></p>


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

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<p>Shopping centre landlords have been placed on notice by retail king Solomon Lew that his Premier Investments group will close more stores in 2013 unless rents are adjusted in line with shopping centre performance.</p>
<p>His warning came as the group, which leases hundreds of stores for brands like Just Jeans, Smiggle and Portmans, announced a defiant 20% rise in net profit to $46.5 million for the six months to January 26.</p>
<p>Premier Investments CEO Mark McInness said this result had been achieved in “challenging” retail conditions and that there remained “severe pressure facing all retailers”.</p>
<p>Premier closed 14 loss-making stores over the reporting period made up of six Jay Jays stores, one Smiggle store, two Portmans stores, three Just Jeans stores and one Jacquie E store.</p>
<p>“Further store closures will occur if the rents expected by the landlords are not in line with the performance of the centre and the market generally,” said McInnes.</p>
<p>He added that store rental negotiations continue to be a focus for improved profitability.</p>
Premier opened six new Peter Alexander stores and 14 Smiggle stores in Australia and New Zealand over the reporting period. It has plans to open between two and five Smiggle stores over 2013 with two confirmed for second half of the year. There are also plans for six new Peter Alexander stores in the second half of 2013.
<p>McInnes’s comments come as shopping centre anchor tenants continue to agitate for lower rents while shopping centre landlords suggests anchor tenants should be doing more to bring in customers.</p>
<p>Department store giant Myer reporting better than expected interim profits last week and that it had successfully renegotiated new leases for a number of stores.</p>
<p>Fellow department store group David Jones, which reported a <a target="_blank" href="https://www.propertyobserver.com.au/retail/david-jones-considers-development-of-flagship-sydney-and-melbourne-stores/2013032059988">13.5% drop in interim profits earlier this week</a>, said it would examine its store portfolio with six store leases in “less robust demographic locations” set to expire in the next five years.</p>
<p>In response to suggestions that shopping centre landlords would come under pressure from department stores to renegotiate leases, <a target="_blank" href="https://www.propertyobserver.com.au/retail/myer-and-david-jones-need-to-pull-their-weight-shopping-centre-council-of-australia/2013031359871">Shopping Centre Council of Australia executive director Milton Cockburn</a> hit back, saying department stores aren’t holding up their end of the bargain as anchor tenants.</p>
<p>"It’s fair to say that over the last few years the department stores haven’t been pulling their weight in attracting foot traffic to shopping centres in the way anchor tenants are supposed to do,” he told <em>Property Observer.</em></p>
<p>The six month results for Premier Investments suggest Lew and McInnes did a good job keeping rents in check, with just a 1.3% rise in the cost of renting shop space.</p>
<p>The results show that operating lease rental expenses increased from $87.7 million in the first half of 2012 to $88.9 million in the first half of 2013.</p>
<p>Lease costs as a percentage of sales fell marginally from 20.2% to 20%.</p>
<p>Premier also reported a 51% growth in internet sales.</p>
<p>In its investor presentation, Premier highlighted an upgrade program for 50 stores including selected Portman, Jay Jay and Jacqui E.</p>
<p>Its Australian store portfolio has 110 Smiggle stores, 89 Dotti stores, 91 Portmans, 200 Just Jeans stores, 82 Jacqui E stores and 188 Jay Jays stores.</p>
<p>It will pay shareholders a dividend of 19 cents on May 17.</p>
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lschlesinger-FZcF9M3vE6

Solomon Lew and Mark McInnes say landlords must cut rents or more stores will close

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<p>Last year may be a distant memory to some, but when I recently reviewed various newspaper headlines from 2012 it revealed that we were a sombre lot back then.</p>
<p>Our property market was in the doldrums, the sharemarket hadn’t really started moving and even seasoned investors were wondering if the gloom would ever end.</p>
<p><strong>The pessimists were having a field day</strong></p>
<p>At the same time, the doomsayers had a multitude of things to worry about.</p>
<p>China was slowing down, commodity prices were collapsing and we were being told our mining boom was coming to an end.</p>
<p>The US economy was in trouble, the European economy was a basket case and there were concerns the world banking system would collapse.</p>
<p>And as they have done for the last few years, the overseas (and some local) property pessimists again enjoyed rubbing our noses into our high home prices, forecasting property prices would drop 15-20%.</p>
<p><strong>Well, the doomsayers got it wrong!</strong></p>
<p>But looking back with the benefit of hindsight, 2012 was a pretty good year for some investors. The world didn’t end, the share market recovered well and our property markets turned the corner in the middle of the year.</p>
<p>But not so good for everyone…</p>
<p>While all the action was going on, there were two types of property investor who didn’t do so well:</p>
<p><strong>1. The nervous nellies</strong></p>
<p>These are the potential investors who sat on the sidelines waiting for someone to ring the bell that the property market had bottomed. They have missed out on the strong capital growth that has occurred in most property markets since the middle of last year as can be seen from the following graph from <a href="https://www.macrobusiness.com.au/" target="_blank">Macrobusiness</a>.</p>
<p><img src="/images/stories/2013/03/yardneymarch22one.png" width="470" height="368" alt="yardneymarch22one"></p>
<p>Source: MacroBusiness.com.au/RPData</p>
<p>Of course, certain properties performed significantly better than the average shown in the chart above.</p>
<p><strong>2. Victims of the get-rich-quick crew and property spruikers</strong></p>
<p>Firstly a quick disclaimer: because of my enthusiasm for property, the amount of writing I do and the numbers of emails I send out, I’m sometimes called a spruiker.</p>
<p>But remember, I have no properties for sale and never have had. So my advice is independent and unbiased and my optimism comes from the perspective of over 40 years in property investing.</p>
<p>Interestingly, I seem to have heard of more investors getting themselves into trouble over the last year than I’ve come across for a while.</p>
<p>Some have bought properties off the plan and were disappointed that end project values fell short of their purchase price.</p>
<p>Others bought house and land packages in “affordable suburbs” from developers or their marketing companies, only to find that the vast oversupply at a time when they settled and the valuations on their properties didn’t live up to expectations.</p>
<p>Yet others bought in mining towns.</p>
<p>Some of these investors may not yet realise how much trouble they are in until they try to sell.</p>
<p> </p>
<hr class="system-pagebreak">
<p><strong>Why property is poised for growth</strong></p>
<p>Well, that’s all history, so the question is: where to from here?</p>
<p>As always, the pessimists will find something to worry about, but I think we’re in for a good year in property driven by:</p>
<p>&gt;A stable global economy</p>
<p>&gt;A strong local economy</p>
<p>&gt;Low unemployment – around 5.4%</p>
<p>&gt;Inflation at 2.2%, which is at the bottom of the Reserve Bank’s comfort band</p>
<p>&gt;Low interest rates stimulating consumer and business confidence</p>
<p>&gt;Strong immigration, rising rents and generally low levels of supply of good quality property</p>
<p>&gt;Robust household budgets</p>
<p>&gt;Funds flowing into self-managed super funds – much of it looking for a home in bricks and mortar.</p>
<p><strong>The final nails in the doomsayer's coffin…</strong></p>
<p>Over the last week, a number of leading indicators have made me feel even more confident about property in 2013 as they tend to pre-empt stronger property values.</p>
<p><strong>1. Consumer confidence rose again in March</strong></p>
<p>The Westpac Bank-Melbourne Institute reported consumer confidence rose a further 2.0% in March. The current level of the consumer confidence index is now around 10% higher than the long-term average and has risen 17% since April 2012. This will translate into increasing sales in all areas of our economy, including our real estate markets.</p>
<p><strong>2. Strong jobs growth</strong></p>
<p>While our unemployment rates stayed the same at 5.4%, payrolls rose 71,500 in February, the biggest jump in just over 12 years.</p>
<p><strong>3. The RBA has confirmed the property markets turned last year</strong></p>
<p>RBA governor Glenn Stevens confirmed our property markets turned last year (something those of us on the ground have known for months) and assistant governor Christopher Kent suggested construction of houses and apartments would pick up in 2013-14, and play some role in helping to support a gradual pick-up in economic growth.</p>
<p><strong>4. Rising finance approvals</strong></p>
<p>Australia’s housing finance approvals (in value terms) rose by 2.4% in January, driven in particular by investors responding to the lower interest rate environment.</p>
<p><img src="/images/stories/2013/03/yardneymarch22two.jpg" width="470" height="318" alt="yardneymarch22two"></p>
<p><strong>The bottom has now passed</strong></p>
<p>While some of our property markets offered fantastic opportunities, lack of confidence held back many would-be homebuyers and property investors last year.</p>
<p>I can understand them: it’s hard to go against the crowd and make a significant investment in property if you think the market could fall further.</p>
<p>But as the year goes on and confidence grows, more and more people will realise the markets have turned and this will propel the upturn phase of the real estate cycle, particularly in the middle brackets of our capital city property markets.</p>
<p>The property cycle bottomed in the middle of last year – right at the time the doomsayers were having a field day.</p>
<p><i style="font-size: 14px;"><strong>Michael Yardney</strong> is a director of <a href="https://www.metropole.com.au/" rel="nofollow">Metropole Property Strategists</a>.</i></p>
<p> </p>
<p><i style="font-size: 14px;"><br></i></p>
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myardney-DFoGhGbSJX

Property doomsayers have been slayed by latest stats: Michael Yardney

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<p>The Industry Superannuation Property Trust has plans for a $70 million retail and office redevelopment on Queen Street Mall to create flagship retail space to lure Zara, Topshop and Forever21 to Brisbane. </p>
<p>The $70 million-plus development adds to the $500 million it has already spent in the past two years on the <a target="_blank" href="https://www.propertyobserver.com.au/leisure/brisbane-chifley-at-lennons-hotel-acquired-by-singapore-hotel-group-for-%2457-million/2012091756628">mall</a>, which is regarded as the most successful outdoor mall in Australia.</p>
<p>“We have been looking to enhance these assets for some time and we believe this is the right time because there are a number of <a href="https://www.propertyobserver.com.au/retail/zara-opens-in-melbournes-highpoint-mall-as-amancio-ortegas-wealth-hits-%2457-billion/2013031359801" target="_blank">global retailers</a> looking to gain a presence here,” ISPT development director Chris McCluskey told <em>The Australian Financial Review</em>.</p>
<p>“We have enormous faith in south-east Queensland as an economic hub.”</p>
<p>ISPT’s figures suggest about 100,000 people move through the Queen Street Mall every day.</p>
<p><em>Photo by Nam Nguyen, courtesy of Flicker.</em></p>
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jchancellor-FAypfDUnLy

ISPT proposes new Queen Street, Brisbane retail to lure Zara and Topshop

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<p>Property Bloom is just completing a three-villa development for a client in Muswellbrook. Under this council’s requirements we needed to design one of the villas for people with disabilities. The villa needed to be adapted to ensure that a person with disabilities could live there comfortably.</p>
<p>Some of the requirements included a kitchen bench designed so that it can be lowered, wider hallways, wider doorways with lever handles, wider access to the shower with a small ramp so a chair may be wheeled in, powerpoints located higher on the wall and a ramp with railing at the front for a stepless entry.</p>
<p>When first told of the requirement, our client saw this as a disadvantage, thinking that the villa would be less marketable than the others. However, as we’ve worked through the building of the development, I can see the opposite. This villa looks more spacious and I think the small adaptations will add value to it.</p>
<p>We have an ageing population where at some time in our lives we are going to want to live in easily accessible homes, with no stairs and wider access for our walking frames or wheelchairs. In addition, almost 20% of Australians have a long-term disability. As the Australian population ages, this percentage will increase.</p>
<p>As we age, we want to live independently for as long as possible, so having more <a href="https://www.propertyobserver.com.au/news/australian-housing-still-least-affordable-in-the-world-despite-recent-improvements-fitch/2013010958698" target="_blank">housing</a> specifically designed for the elderly and disabled makes sense. An accessible home is about freedom – freedom to move about with ease and confidence, knowing that regardless of our circumstances we can remain relatively independent.</p>
<p>Too often our homes are not equipped for changing needs, from raising small children, to welcoming or looking after <a href="https://www.propertyobserver.com.au/demographics/how-australia-s-ageing-population-will-affect-residential-development-peter-chittenden/2013011458755" target="_blank">ageing</a> parents, to recovering from a sporting injury and needing to use crutches or simply finding that the stairs are steeper than they used to be.</p>
<p>Designing an accessible home will not only produce a sustainable home but one you could live in comfortably for a lifetime. This could not be more relevant than now. As our demographics continue to change, there will be more demand for such housing.</p>
<p>More people than you might imagine unexpectedly need accessible housing. My husband, for example, recently needed a knee reconstruction after a surfing injury. We have two flights of stairs in our house, which did not make it easy for him. Australia-wide almost 22,000 people annually have orthopaedic knee surgery. My mother has had two hip replacements and so I can see the benefits that a well-designed home can deliver. Even bringing a pram into my house when I had my babies was tricky with our narrow hallway.</p>
<p>When designing, remember to integrate the adaptable housing components, do not isolate them or use a different standard of materials and finishes and the house will look less like a nursing home. This was our concern for the front entrance ramp and so we designed the balustrade to tie in with our slat fencing than go with the one that the draftsman had used on the plan which did look a little hospital-like.</p>
<p>One last thing to consider as well that I hadn’t thought of, even though my uncle is in a wheelchair, was carpet pile heights. Can you imagine trying to wheel through a thick carpet?</p>
<p>Embrace adaptable design and you may just find your developments in high demand.</p>
<p><i style="font-size: 14px;"><strong>Jo Chivers </strong>is director of </i><a title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;"><i>Property Bloom</i></a><i style="font-size: 14px;">, which manages property development.</i></p>
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jochivers-wq5Bp59R5a

Ramping up adaptable design for the aged: Jo Chivers

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<p>Land in Clyde North’s newest community – Berwick Waters, 50 kilometres southeast of the Melbourne CBD – will be released this Saturday with allotments starting from $235,000. </p>
<p>The Macumba land release comprises eight allotments within the Heritage Hills precinct.</p>
<p><a target="_blank" href="/news">Berwick</a> Waters – an estate by Australand and Mondous Property Australia – is made up of two precincts, Heritage Hills and Waterfront.</p>
<p>The eight allotments range in size from 444 square metres to 545 square metres.</p>
<p>The 310-hectare community estate boasts extensive wetlands, shared walking and bike trails and will be complemented by three proposed state schools and a town centre.</p>
<p>Purchasers of the Macumba land release will be required to pay 5% of the purchase price to secure the allotment.</p>
<p>The median house price in <a target="_blank" href="/news">Clyde North</a>, which grew 0.35% in the quarter to February 2013, is $397,000.</p>
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ntrotman-Et3xWpamVh

Berwick Waters Macumba land to be released this weekend

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<p>By most backyard cubby house standards, they are gigantic and of rather grand designs. Be they snail shells, enchanted trees or giant homes.</p>
<p>Or the very trendy looking cubby house – dubbed the Zimmer – by Porter Davis Homes aimed at bringing out the big kid in all of us. Almost something you'd image the next generation of Tyler Brule's or Nick Tobias's enjoying in their childhood.</p>
<p>All are architect-designed and constructed by master builders, including one by the Grand Designs Australia host Peter Maddison, who based his cubby house on the 1968 novel by Ted Hughes of <em>The Iron Man</em>.</p>
<p>The five cubby houses (pictured below) will be on display at the Melbourne International Flower &amp; Garden Show until March 24.</p>
<p><span style="background-color: #ffffff;">{yoogallery src=[images/stories/2013/03/march22cubby]}</span></p>
<p>They will be auctioned on Sunday to raise money for not-for-profit organisation Kids Under Cover.</p>
<p>Maddison wanted his cubby to have a fantasy element, telling Fairfax Media that the giant in the <em>The Iron Man</em> was perfect.</p>
<p>The cubby was actually auctioned last year, but the winners have handed it back.</p>
<p>"I wanted to do something that related to my childhood," he told Fairfax Media.</p>
<p>"My first cubby house was a tiny space in a tree. It was made from old fence palings scavenged from neighbours' fences that had fallen off – or we helped fall off."</p>
<p>The not-for-profit charity places studio homes in backyards of families in need. Over their 15-year lifespan, the demountable buildings are passed on to up to four families.</p>
<p><img alt="kidsmarch22one" height="400" width="400" src="/images/stories/2013/03/kidsmarch22one.jpg"></p>
<p>Kids Under Cover's national CEO Jo Swift says since 2009 the scheme has raised $125,000.</p>
<p>"We all want a cubby when we are kids, but the reality is not everybody gets that opportunity and not everybody has a happy childhood," Swift says.</p>
<p>Almost 45,000 young people are homeless or at risk; a figure that has doubled over the past five years. "It's quite challenging to learn about these problems in your own backyard," she says.</p>
<p><a href="https://cubbyhousechallenge2013.gofundraise.com.au" target="_blank">Kids Under Cover's Cubby House Challenge, Melbourne International Flower &amp; Garden Show, March 20-24, Carlton Gardens &amp; Royal Exhibition Building, Auction March 24 at 3pm</a>; raffle tickets can also be bought from cubbyhousechallenge2013. gofundraise.com.au</p>
<p>Homeless Young People by State per Night:</p>
<table border="0" align="left" style="width: 470px;"><tbody>
<tr>
<td>State</td>
<td>
<p>Number of <br>Homeless Young People*</p>
</td>
</tr>
<tr>
<td>VIC</td>
<td>3896</td>
</tr>
<tr>
<td align="left">QLD</td>
<td>4469</td>
</tr>
<tr>
<td>NSW</td>
<td>4987</td>
</tr>
<tr>
<td>WA</td>
<td>4280</td>
</tr>
<tr>
<td>SA</td>
<td>2129</td>
</tr>
<tr>
<td>TAS</td>
<td>770</td>
</tr>
<tr>
<td>NT</td>
<td>1102</td>
</tr>
<tr>
<td>ACT</td>
<td>
<p>300</p>
</td>
</tr>
</tbody></table>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p>It was 1989 when car dealer Ken Morgan decided to form Kids Under Cover. In the past 21 years Kids Under Cover has continued to grow and establish themselves as a driving force in the fight against youth homelessness.</p>
<p>In 2009 Hocking Stuart become Kids Under Cover's first key business partner.</p>
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Backyard cubby houses of the grandest designs up for auction for Victorian homeless charity fundraising 

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<p>The regional housing market is at its most affordable in almost a decade, according to the latest HIA-CBA Housing Affordability Index.</p>
<p>Overall housing affordability improved by 5.5% over the 2012 December quarter representing an 18.4% advance on the same period of 2011.</p>
<p>Affordability improved in all capital city and state regional housing markets with the biggest regional improvement occurring in NSW, where the affordability multiple improved from 1.43 to 1.31.</p>
<p>The HIA defines the affordability multiple as “the number of full time average incomes required to reach the qualifying income to service a loan on a median priced home”.</p>
<p>Tasmania is the most affordable regional market with a multiple of 1.13 with Hobart also the most affordable capital city market with a multiple of 1.20.</p>
<em>Click to enlarge</em>
<p><a href="/images/stories/2013/03/hiamarch22.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/03/hiamarch22thumb.gif"></a></p>
<p>Sydney remains the least affordable capital city housing market with an affordability multiple of 1.75.</p>
<p>Victoria is the least affordable regional housing market with a multiple of 1.55.</p>
<p>Overall, the index improved from 65.3 to 68.9 with the national affordability multiple improving from 1.53 to 1.45.</p>
<p>A year ago it was 1.72.</p>
<p>“This is the eighth consecutive quarter of increase in the index, bringing it close to levels not seen since the depths of the GFC during 2009,” says HIA senior economist, Shane Garrett.</p>
<p>“For regional areas, affordability is at levels last seen during the early 2000’s decade. Affordability is on the increase in every part of the country.</p>
<p>“This has been driven by the weakness of price developments as well as the two cash rate reductions effected by the RBA in the final quarter. Continued growth in earnings has also served to make housing more affordable”.</p>
<p>“It is worth noting that affordability would be even more favourable to householders had recent RBA rate cuts been passed on fully be lenders.”</p>
<p>Despite the continued improvement in housing affordability first-home buyer numbers remain at <a target="_blank" href="/news">near record eight year lows</a> with Garrett noting that “transactions activity on the ground is very sluggish”.</p>
<p>“This underlines the need for stronger interventions from the RBA in terms of interest rates and from the government with regard to the heavy taxation of home purchase,” he says.</p>
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Regional housing affordability at its best since early 2000s: HIA

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<p>This weekend is expected to be Melbourne's fifth biggest in history with 1,210 auctions.</p>
<p>"There are two reasons for the high number of auctions, firstly as consumer confidence levels are slowly rising more owners are prepared to sell and secondly a traditional spike in listings caused by Easter the following weekend," the REIV spokeperson Robert Larocca said.</p>
<p>In Sydney there are 710 auctions which is just down on last year when the weekend before Easter had 735 listings and in 2010 when there was a 750 listings super Saturday, according to Australian Property Monitors. In Sydney, <a target="_blank" href="/news">Strathfield</a> leads the way with 15 scheduled auctions and <a target="_blank" href="/news">Concord</a> and <a target="_blank" href="/news">Maroubra</a> are each expected to host 13 auctions.</p>
<p>The Melbourne suburb with the highest volume of auctions this weekend is <a target="_blank" href="/news">Brighton</a>, which has 28 homes going under the hammer. There are also 22 scheduled in each of <a target="_blank" href="/news">South Yarra</a> and <a target="_blank" href="/news">Glen Iris</a>.</p>
<div>
<div>Jellis Craig group chief executive Nick Dowling told <em>Property Observer</em> it would be a "huge weekend" for Melbourne and a "true test" of the strength of the property market.</div>
</div>
<p>The group, which operates in the upmarket inner east and eastern suburbs, will hold around 100 auctions on Saturday and Dowling expects strong clearance rates which will be "proof" of the recovery."</p>
<p>The largest weekend in history was 14 and 15 March 2008, when there were 1,351 auctions and a clearance rate of 67%.</p>
<p>On one weekend in November 2003 there were 1,241 auctions and a clearance rate of 47%, while on one weekend in December 2010 there were 1,235 auctions with a clearance rate of 57%.</p>
<p>In October 2007 there was a weekend with 1,211 auctions with a very strong clearance rate of 83%.</p>
<p>The Melbourne suburbs ranked by volume of auctions in the week ending 24 March, according to the REIV are:</p>
<div class="page" title="Page 1">
<img src="file:///page1image16192" alt="page1image16192" width="433.231000" height="1.411000"><img src="file:///page1image16352" alt="page1image16352" width="71.520000" height="0.660000"><table style="border-collapse: collapse;">
<colgroup>
<col style="width: 35.910466%;">
<col style="width: 30.527329%;">
<col style="width: 33.562205%;">
</colgroup>
<tbody>
<tr>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Suburb</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.420000pt; border-bottom-width: 0.480010pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Number of auctions</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.419980pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>YTD Clearance rate</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Brighton</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.420000pt; border-bottom-width: 0.480000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>28</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.419980pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>66 %</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>South Yarra</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>22</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>78%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Glen Iris</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>22</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>76%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Prahran</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>19</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>79 %</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Richmond</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.480000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>19</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>87%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.480000pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Malvern East</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.420000pt; border-bottom-width: 0.480010pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>19</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.419980pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>74%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Elsternwick</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.420000pt; border-bottom-width: 0.480010pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>18</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.419980pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>79%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Kew</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>18</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>69%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Hawthorn</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>18</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>80%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Reservoir</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>17</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>67%</p>
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.479980pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>Toorak</p>
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.479980pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
<p>17</p>
</div>
</div>
</td>
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<p>67%</p>
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<p> </p>
<p>A three-bedroom home at <a href="https://www.realestate.com.au/buy/in-brighton%2c+vic+3186/list-1?includeSurrounding=false&amp;persistIncludeSurrounding=true" target="_blank">51 Montclair Avenue, Brighton</a> (pictured below), will go to auction tomorrow with a price guide of $730,000 to $790,000.</p>
<p><img src="/images/stories/2013/03/brightonmarch22one.jpg" width="470" height="350" alt="brightonmarch22one"></p>
<p>A five-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-brighton-113047407">37 Drake Street, Brighton</a> (pictured below), will also go under the hammer tomorrow.</p>
<p><img alt="brightonmarch22two" height="350" width="470" src="/images/stories/2013/03/brightonmarch22two.jpg"></p>
<p>RP Data expects that over the week to Sunday 24 March, 2,415 auctions will be held across the nation's capital cities.</p>
<p>The bulk will be held tomorrow.</p>
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<p>Last week across the combined capital cities, the auction clearance rate was recorded at 62.2%, up slightly from 61.6% the prior week.</p>
<p>Auction volumes rebounded to 1,851 over the week, up from 996 the week prior.</p>
<p>At the same time last year, there were 1,454 auctions and the clearance rate was recorded at 51.4%.</p>
<p>Over the past four weeks, the combined capital city auction clearance rate has been in excess of 60% each week.</p>
<p>In Melbourne, Australia’s largest auction market, there were 928 auctions last week with a clearance rate of 66%.</p>
<p>In comparison, over the previous week of the Labour Day long weekend, there were 227 auctions held and the clearance rate was recorded at 62.4%.</p>
<p>In Sydney, the auction clearance rate was recorded at 65.6% last week, down from 67.6%.</p>
<p>Sydney auction volumes across the city increased from 533 the week prior to 647 last week.</p>
<p>Auctions continue all the way through to Easter Thursday.</p>
<p>A<a target="_blank" href="https://27springroadmalvern.com/"> four-bedroom, four-bathroom trophy home in Malvern</a> (pictured below) will be auctioned next week with price expectations of $3.5 million-plus.</p>
<p><img alt="brightonmarch22three" height="312" width="470" src="/images/stories/2013/03/brightonmarch22three.jpg"></p>
<p>Located on Spring Street on an 897-square-metre lot, it is the second time the two-year-old residence has been offered for sale.</p>
<p>It was last listed for auction in June 2011 for $3.7 million plus.</p>
<p>It is owned by Con Tangalakis, co-owner of Sinapse, a business consultancy company.</p>
<p>Architecturally designed by David Edelman architects, the home boasts a home theatre room, a miele-equipped kitchen with white stone benches and a children’s retreat.</p>
<p>The property also includes a solar heated pool and landscaped gardens.</p>
<p>Joanna Nairn from Marshall White has listed the home for a March 28 auction.</p>
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Sydney and Melbourne pre-Easter Super Saturday auctions at near record rush with Brighton 28 listings overload

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<p>Struggling fashion designer Bettina Liano has slammed the high rents charged in the Melbourne CBD after closing her Little Collins Street boutique and opening a new shop in New York’s SoHo district.</p>
<p>In a scathing attack reported in fashion industry magazine <em>Ragtrader</em>, Liano said her rent was over $20,000 a month for the 134-square-metre store - double what she is paying to rent at 246 Mott Street in SoHo. Liano says she also plans to open stores in San Francisco, Los Angeles and Miami.</p>
<p>The empty store at 269 Little Collins Street is vacant and <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-500634111" target="_blank">listed for lease by Max Cookes and Zelmain Ainsworth of CBRE</a> with a seven- to 10-year lease term.</p>
<p>''What I was paying for the Little Collins Street store was exorbitant,'' she told <em>Ragtrader</em>. "It cost me over $20,000 a month but this store in SoHo is less than $10,000 a month. And there are people here. In Little Collins Street, there's no traffic, it's tumbleweeds."</p>
<p>She had previously closed her store on Chapel Street, where she paid rent of <a target="_blank" href="https://www.propertyobserver.com.au/retail/bettina-liano-closing-australian-stores-and-selling-jeans-in-the-united-states/2013022159492">$25,000 per month.</a></p>
<p>Her comments come as the Melbourne Fashion Week is underway.</p>
<p><em>The Age</em> reports that Liano's Little Collins Street store was closed last month due to a breach of her lease after she failed to fulfil her rental obligations.</p>
<p>Melbourne ranked as the <a target="_blank" href="https://www.propertyobserver.com.au/retail/sydney-melbourne-and-brisbane-in-world-s-top-10-priciest-shopping-strips/2012121858568">sixth most expensive prime retail rent market in the world last year </a>at $850 per square foot per annum, falling short of London at $988 per square foot, according CBRE figures.</p>
<p>Other vacant retail spaces on Little Collins Street include a 27-square-metre café and basement space below the Causeway Hotel at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-500513571" target="_blank">353 Little Collins Street</a>, which is being marketed for lease by Jeremy Marmur and Michael DiCarlo of Savills Melbourne.</p>
<p>An 80-square-metre retail space at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-500257701" target="_blank">347 Little Collins Street</a> is also vacant and available for lease through Savills Melbourne.</p>
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Bettina Liano slams “exorbitant” Melbourne rents as Little Collins shop sits empty

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<p>A property bubble is building in Australia’s commercial property market due to a “wall of money” flowing into the sector from offshore institutional investors, Paul Weightman, chief executive of property trust and fund manager Cromwell, has warned.</p>
<p>Speaking at an RBS Morgans function in Brisbane yesterday, Weightman said the current bubble building was different to that which occurred prior to the GFC when rising rents led to compressed capitalisation rates – the amount of time it takes for a building to pay for itself.</p>
<p>He says the current bubble is compressing rental yields without proper regard to the fundamentals, according to his comments reported by <em>The Australian Financial Review.</em></p>
<p>Weightman added that it was hard to see where office and retail rental growth would come from in capital city commercial property markets in the eastern states (Sydney, Melbourne, Adelaide, Canberra and Brisbane).</p>
<p>“We have enormous amount of capital from offshore looking to find a home in the Australian market but we have pretty poor underlying property fundamentals," he said.</p>
<p>A recent report from Colliers International anticipated <a href="https://www.propertyobserver.com.au/office/chart-of-the-week-why-2014-will-feature-renewed-growth-in-the-office-market/2013031859780" target="_blank">no growth in the commercial CBD office market in 2013</a>, but renewed growth from 2014.</p>
<p>The most recent<a href="https://www.propertyobserver.com.au/office/sydney-the-only-partial-bright-spot-as-cbd-office-vacancies-rise-with-mining-demand-down-pca/2013020659204" target="_blank"> Property Council of Australia office report</a> for the second half of 2012 said net absorption at 83,685 square metres across Australian CBD office markets was the lowest since the six months to July 2009 and less than half the 20-year historical average.</p>
<p>In anticipation of the bubble bursting, Cromwell will look to sell some of its assets and reduce the amount of debt it carries – as it did in 2006 prior to the market collapsing.</p>
<p>Cromwell was recently included in the S&amp;P/ASX 300 Index.</p>
<p>It reported statutory accounting profit of $29.5 million for the six months to December 2012 compared to a prior year loss of $6.8 million</p>
<p>Cromwell has a $1.9 billion commercial property portfolio comprising a mix of office, industrial and retail assets in east coast markets.</p>
<p>Prominent CBD assets include 321 Exhibition Street, a 20 level office building and the 18 level 320 LaTrobe Street both in Melbourne and the twin office tower complex on Victoria Avenue in Chatswood acquired in 2006.</p>
<p>Cromwell property trusts include the recently closed and oversubscribed Ipswich City Heart Trust comprising the $93 million Ipswich City Heart Building, a 9-storey commercial office/retail building to be constructed in the Ipswich CBD offering investors an 8% return.</p>
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