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

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

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

How Sterling Global designed 623 Collins from Melbourne's history

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

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

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

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

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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

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Consumer confidence continued to rise above two-year highs in March - despite no rate cut.
The Westpac-Melbourne Institute Index of consumer sentiment rose 2%  in March to 110.5, its highest level since December 2010.
This follows a 7<a href="/news">.7% increase in February</a> – the biggest monthly gain since September 2011 – when the index rose from 100.6 in January to 108.3.
It is the fifth month in a row that the index has been above 100 with sentiment now 15% higher than its year ago level.
A reading of 100 or more indicates that optimists outnumber pessimists.
Confidence about buying a house or unit remains high with ‘time to buy a dwelling’ index up 1.6% and is now up almost 20% over the past 12 months.
The latest survey was carried out just after the RBA left the cash rate on hold at 3% on March 5, indicating a more broader improvement in confidence beyond the cost of borrowing money.
Westpac chief economist Bill Evans called it a " strong result" 
“Consumers would have been buoyed by the positive run on markets," Evan said.
Commonwealth Bank economist Gareth Aird says consumer sentiment was "buoyed by increased optimism over family finances and the economic outlook".
"The increase in the attractiveness of dwelling investment stems from lower interest rates, rising rental yields and a stabilisation in house prices," says Aird.
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Consumer confidence continues to rise with home-buyer confidence also high: Westpac index

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The weighted average median house price for Australia’s eight capital cities increased by 3.8% over the December quarter to a median of $533,099, according to figures compiled by the Real Estate Institute of Australia.
Capital city unit prices rose 2.4% over the quarter to a weighted average median of $436,305, according to the REIA.
On the back of these results, REIA president Peter Bushby said first signs were emerging of a “long awaited recovery for the residential property market”.
“It is well known that for the last year and a half, the housing market in Australia has been performing below the trend.
“To those who have been predicting a housing market crash, I would strongly recommend to take a deep breath and have a look at the results recorded for the last quarter of 2012,” he says.
While Bushby's sentiments reflect those of many property analysts, the extend of price rises recorded in the December quarter by the REIA will raise eyebrows.
REIA figures contrast strongly though with those compiled by RP Data over the same period.
RP Data recorded a 1.2% decline in dwelling prices over the December quarter with houses down 1.1% and units down 1.6% over the quarter.
Australian Property Monitors (APM) had house prices up 1.9% over the December quarter and the ABS recorded a 1.6% rise in capital city house prices.
Eyebrows will also be raised at the REIA reporting the largest increases in house prices in Melbourne over the December quarter - up by 7.8% to a median $555,000.
RP Data records Melbourne house prices down 1.5% over the quarter, though with a similar median of $550,000.
The Real Estate Institute of Victoria (REIV) recorded a 2.4% rise in Melbourne house prices over the December quarter on a seasonally-adjusted basis.
Australian Property Monitors (APM) also recorded a 2.4% rise in Melbourne house prices over the December quarter  with a median value of $525,000.
The REIA records a modest 2% rise in Sydney house prices over the quarter to a median of $656,000 while RP Data records a 2% decline and a median of $665,000.
Figures compiled by the REIA int is quarterly report are not seasonally-adjusted.
Sydney, Melbourne, Adelaide and Perth medians are revised once in the next quarterly release. Hobart, Brisbane and Darwin prices are not revised.
The current quarter estimates are based on a high (75% -90%) sample of final sales, current quarter estimates are compared with the revised estimates in previous quarters. Sydney median prices are adjusted for compositional changes.
The REIA report also notes that rental markets in resource-rich states remained tight.
“Underpinned by low vacancy rates, rents in Western Australia and the Northern Territory increased dramatically.
“Compared to the December quarter of 2011, median rents in Darwin increased 22% for houses and 14.3% for other dwellings.
“In Perth, increases were 9.5% for houses and 10.5% for other dwellings. Such conditions, together with lower interest rates and rising yields attract more and more investors back to the housing market.
“As we have said before, property is a long-run strategy. Remaining optimistic about the future of the Australian housing market, I am pleased to see that at the end of 2012, it finally turned.
“This augurs well for 2013,” says Bushby.
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First signs of residential property market recovery: REIA president Peter Bushby

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If you’re empty nesters still living in the suburban home where you raised your kids, you may be planning to downscale to a lower maintenance home closer to the CBD and cafe culture.
The inner suburbs are more expensive than where you’re currently living, so you’ll need to maximise the profits from selling the family home to get a foothold in a different market.
You face a choice. Should you play it safe, do a few cosmetic renovations to bring your home up to scratch and sell it pretty much ‘as is’ in the hope that strong demand from buyers will bring you a good sale price?
Or should you take a more aggressive approach towards increasing your potential profit by demolishing your old home, building two dwellings in its place and selling them on individual titles?
Many people think that subdividing is a sure way to make more money than simply selling a property in its current form — but like many ‘sure things’ in property, it ain’t necessarily so.
Working through the figures is the only way to make an informed decision.
Start by getting a firm quote for demolishing your home and levelling the site. Factor in the cost of obtaining the appropriate council permits, and the fee an architect or draftsperson will charge to draw up plans for the subdivision.
Next, obtain an accurate costing for the labour and materials required to build the two new properties. Add a margin of at least 10% for unexpected changes and costs that may crop up when the job is underway.
Then, calculate the cost of interest. Even if you’ve paid off your home, the chances are that you’ll have to borrow money to fund the subdivision. Remember: the longer it takes to complete the subdivision and sell the properties, the more interest you’ll pay on top of the loan amount. It’s worth adding a margin onto the time you estimate the project will take.
Now, work out the rental cost. You’ll need a place to live while the project is underway, so speak with local property managers to find out the likely cost of renting a suitable property in your desired location. Paying rent as well as interest on the subdivision loan could make things tight financially, so it’s important to work out whether you can afford the additional outlay.
You’ll also need to calculate the cost of selling the new properties, including the real estate agent’s fee and marketing costs. These expenses can be significant, so it pays to negotiate a competitive commission with the agent and to satisfy yourself that the recommended marketing campaign will deliver the best value for your dollar by maximising the properties’ exposure to the right buyers.
Then, consider your tax liability. You’ll incur capital gains tax (CGT) when you sell. This could eat significantly into your profit, so seek advice from your accountant as to the exact liability that will apply in your situation.
Finally, ask local real estate agents for an appraisal of what your home is worth in the current market.
It’s a common mistake to calculate the potential profit of a redevelopment by using the value of the property as it stood when you bought it. The land will have grown in value since then, so using the original value could lead to an over-inflated estimate of the profit margin — and bring you crashing down to earth when you actually sell. Make sure you use the property’s value in today’s terms.
Once you have gone through these steps, you’ll have a clear idea if the project stacks up in financial terms. If not, it may be best to opt for the simpler route, undertake a few cosmetic renovations and sell your family home ‘as is’.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
 
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Subdividing isn't always the best option: Mark Armstrong

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Some would-be investors never get around to taking the plunge into commercial property.
They certainly know quite a lot, because they read plenty of books and regularly attend seminars. But even so, they remain what are affectionately called 'armchair investors'.
<h3>How to cure procrastination</h3>
There is a certain hesitancy that sometimes accompanies the transition from residential to commercial property investing.
Perhaps this stems from having to move out of your comfort zone and the fear of 'not getting everything right' from the outset.
Management guru Tom Peters provided this simple formula to help people who find themselves procrastinating:
Ready, Fire, Aim.
However, with property investing, this has often been rephrased as:
Start, Stumble, and Succeed.
You will always gain far more (in both knowledge and profit) whenever you start and stumble, rather than by holding back in the fond hope of finding some magical way of getting it right on your very first attempt.
Along the path, you will have the chance to make adjustments — because you can always change something, but you can't change nothing.
<h3>The importance of position</h3>
Clearly, the location of your property is important — but here again, you need to be prepared to step outside your comfort zone.
It's okay to purchase a home, based upon where you want to live. But when it comes to commercial property investing, you need to seek out where the market is now, and where it's heading.
That may mean buying just around the corner. But equally, it could be across town, or even interstate.
And that's where having a <a target="_blank" href="https://his-best.biz/category/x-factors/key-consultants/">top consulting team</a> can quickly provide you with this vital market intelligence.
<h3>Strive to build a reputation</h3>
Naturally, you want to make every deal a winner. But you can never place revenue above reputation AND expect to enjoy any long-term success.
This relates to your dealings with selling agents, vendors, property managers and contractors in general.
It's possible for you to be firm and still remain fair in all your dealings.
You want to be known as a straight shooter if you intend becoming a serious long-term investor in commercial property. That extends to paying people promptly, instead of stringing them out for as long as you can.
You see, contractors have long memories. And they will respond when you need them if you have quickly paid their accounts in the past.
Surprisingly, it is small actions like these that can help build (or destroy) reputations.
Bottom line: always be looking for opportunities. And remember, until you actually sign a contract, nothing is binding.
Knowing this, you should be making offers on a regular basis. And always strive to ensure things end up in a win-win outcome.
That way, you'll quickly build a solid reputation — as someone who is a significant player, but also absolutely fair.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a rel="nofollow" href="https://his-best.biz/" title="Chris Langs blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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It's better to start and stumble than procrastinate: Chris Lang

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The construction industry is forecast to contract 4% over the three months to May 2013, according to short-term forecasts from the BCI Media Group.
BCI is forecasting $15.6 billion in total construction starts over the three-month period compared with $16.2 billion in the previous three-month period from December to February.
Total building construction is expected to fall 10% over this period with a 20% decline in the value of residential construction (including aged care accommodation).
The longer-term trend shows an 11% pick-up in residential construction for the May quarter of 2013 compared with the May quarter 0f 2012.
<img alt="constructionmarch13chart" height="306" width="470" src="/images/stories/2013/03/constructionmarch13chart.gif">
Commercial construction activity is expected to pick-up by 80% over the May 2013 quarter in line with longer-term growth, up 27% year-on-year.
The fall in total construction starts is being driven by a sharper fall in the infrastructure sector as the government cuts back on spending.
The long-term trend shows total construction starts in Australia at negative 3% when contrasting the value of 12 months’ construction starts against the corresponding 12- month period a year earlier.
BCI says there is unlikely to be any major improvement in the construction sector over the next twelve months as the high Australian Dollar, tight company budgets, and tough bank lending criteria continue to squeeze the market.
Whilst there are some signs of activity in the commercial and residential sectors, the overall building construction market continues to track sideways. On a state level, growth is showing through in New South Wales and Queensland; although in Queensland’s case any optimism needs to be tempered as the market remains nearly twenty per cent below where it was three years ago.
The fall in civil construction starts continued to gather speed.
"While there is anecdotal evidence of a drop in pricing on new jobs in the market, it remains to be seen if this will lead to a pick up in jobs going forward," says Damian Eastman, COO of BCI Media Group.
The Australian Industry Group/HIA Australian Performance of Construction Index for February recorded an expansion in house building and engineering construction with the overall index increasing by 9.4 points to 45.6  in the month, to still remain in contractionary mode, but at a slower rate of decline.
A reading of below 50 indicate a contraction in the industry with the distance from 50 indicative of the strength of the decline.
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Construction industry to contract 4% over next three months and no improvement long-term: BCI

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House prices in Sydney's most expensive suburb, Bellevue Hill, in the eastern suburbs, fell 12% over 2012, figures compiled by the REINSW reveal.
The median house price as of December 2012 is $2,945,000 compared to $3,345,500 in December 2011.
Real estate  agent Leon Jacques of 1 to 1 Realty Double Bay says the annual figure has likely fallen due to vendors now meeting the market and becoming more realistic.
The median price dropped by a steep 17% in the last quarter of the year according to the REINSW.
Jacques says the quarterly drop in the median price may be due to properties at the lower end of the market accounting for majority of sales.
Jacques says cheaper homes have the ability to skew the figures but the quarterly drop is not a complete indication of how the suburb is fairing.
CEO of REINSW Tim McKibbin says the more affordable part of the market weathered the property storm of the past few years but the more expensive suburbs went through something of a correction.
McKibbin says that has now bottomed and prices will begin to firm up.
"During the last couple of years, not only did prices of properties in less affordable areas decline but sales also declined."
McKibbin is quietly confident about 2013 and expects prices to strengthen.
"Less affordable areas will always lag the affordable areas," says McKibbin.
A <a target="_blank" href="https://www.realestateredefined.com.au/Buying/Search/Detail.aspx?id=48&amp;wlid=843a1aad-a6e2-43cc-82a4-066b0efd0256">four-bedroom, two-bathroom</a> home on Bellevue Road (pictured below) sold at its February 26 auction for $2,755,000.
<img height="313" width="470" src="/images/stories/2013/03/bellevuemarch13oneone.jpg" alt="bellevuemarch13oneone">
Situated on 738 square metres of land, the home boasts two levels of living space and has DA plans for an additional storey.
It last sold in July 2010 for $2.7 million.
The listing was held by Real Estate Redefined Double Bay.
A three-bedroom home on <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-112862879">Lennox Street</a> (pictured below) sold at its February 23 auction for $2,275,000.
<img height="349" width="470" src="/images/stories/2013/03/bellevuemarch13two.jpg" alt="bellevuemarch13two">
Built in 1900, the home boasts two bathrooms, a double living room with French doors, high ceilings and cast iron fireplaces.
The sale was secured by Sydney Sothebys International Realty Double Bay.
Meanwhile, the vendors of a Bunyula Road property sold prior to auction for $2.33 million.
The property comprises of three bedrooms, two baths and sits on 639 square metres of land.
The sale was closed by Bradfield Cleary Double Bay.
There have been 15 house sales above $10 million in Bellevue Hill since 2008, but only one officially recorded in the past year, according to RP Data.
Vaucluse is Sydney’s second priciest suburb with a median house price of $2,475,000. It remained stable in the last quarter, however  dropped 21.4% annually.
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Bellevue Hill prices down 12% over 2012 but still Sydney's priciest suburb

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Dark and dreary workstations may be a thing of the past with the introduction of a new way of working that does not include a personal workspace.
Companies such as GPT Group, Macquarie Bank, Microsoft, and KPMG have jumped on the activity-based working (ABW) bandwagon.
A Colliers International 2012 Office Tenant Survey also revealed that one in three organisations have implemented or are planning to implement ABW.
Most recently, CBRE Sydney has adopted the ABW model, following in the footsteps of its Amsterdam office.
Other CBRE offices around the world are expected to adopt a similar fit-out model.
The ABW model abolishes assigned workstations, while embracing a broader workspace categorised according to activities, providing different spaces for collaboration, learning, focusing, and socialising.
CBRE Sydney, which has relocated to new offices within 363 George Street (pictured below), is Australia’s first CBRE office to take on the ABW model. Its new office boasts diner-style booths complete with plush cushioning, large windows with a gorgeous view of the harbour, and round wooden tables.
<img alt="cbremarch13one1" height="353" width="470" src="/images/stories/2013/03/cbremarch13one1.jpg">
The interiors were designed by WMK Architecture in partnershp with CBRE.
John Andreas, director at WMK Architecture said CBRE’s new workplace went beyond ABW, but was a "tailored, real world solution which acknowledges what people actually do in the workplace and delivers a unique environment that combines a sophisticated business approach with a contemporary lifestyle flavour".
The fit-out has allowed CBRE to reduce its space requirements by over a quarter and cut down the number of work stations to 200, after finding that only two-thirds of staff are in the office at one time.
CBRE President &amp; CEO, Australia &amp; New Zealand, Tom Southern said the new office was a positive development in the evolution of CBRE Sydney.
“Our new workspace has given us the unique opportunity to increase collaboration, enable greater flexibility and instigate change in the way our people work,” says Southern.
“To meet our practical needs we have integrated a lot of clever ways to work, and we’ve invested in a range of new features and technology.”
“The activity-based workplace is a broad concept, and one on which every organisation has a differing definition. A tailored version of the ABW model, designed to suit our specific needs, has been applied to our new Sydney office.”
<img alt="cbremarch13two2" height="377" width="470" src="/images/stories/2013/03/cbremarch13two2.jpg">
The colour scheme of CBRE’s new premises also reflects the vibrancy of the new working model. Neutrals like dark brown, grey, and black take centre-stage, while dollops of lime green keep things fresh and interesting.
“The design we have selected has a modern, progressive feel that truly reflects our business and our culture as well as providing an interesting take on the traditional corporate space,” says Southern.
The new office has also allowed the CBRE Global Corporate Services (GCS) operations to join the Sydney CBD office through a smarter management of technology and space.
As a global property services firm, CBRE’s NSW managing director James Patterson said it was important that CBRE was forefront of these types of changes.
He has witnessed a transformation in staffing operations despite the short time they have spent in their new office.
“During the course of a day, our people undertake many different activities that require different work settings with various levels of collaboration. The new office incorporates a variety of work spaces for staff to choose including work stations, think tanks, quiet rooms, meeting rooms, a CBRE Bar (known as the CBar) for client entertaining, and a substantial staff breakout area,” he says.
<img alt="cbremarch13three3" height="419" width="470" src="/images/stories/2013/03/cbremarch13three3.jpg">
Jo-Anne Harrison, head of CBRE project management, says the change has been mostly well-received by staff, in spite of initial reservations about moving to the ABW model.
Sustainability was also a key consideration when planning for the new office commenced.
CBRE head of sustainability for Asia-Pacific Rebecca Pearce says they have reconsidered many of the company’s operating procedures to reduce carbon emissions.
“Energy efficiency improvements will be achieved through new lighting (with occupancy sensors) to office and client areas and new IT equipment that has been selected and set up for optimal energy savings both inside and outside the office, reflecting our new flexible working arrangements.”
“Our new fit out has been planned to optimise the Indoor Environmental Quality (IEQ) and the 363 George building management team continue to work on improving base building related IEQ measures,” she says.
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CBRE embraces flexible working space in Sydney office

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The $130 million Harvey Norman Maroochydore Homemaker Centre on the Sunshine Coast, which opened in November last year, is now 91% leased as demand for bulky good retail assets rises. 
The success of the centre, the first homemaker complex built in Queensland since 2009, will be seen as a sign of a return of confidence in both the South East Queensland commercial property market and the residential property market with furniture and home living stores prominent among tenants.
The successful leasing of the centre comes on the back of a pick-up in the bulky goods sector spurred on by competition between Wesfarmer’s Bunnings and Woolworth’s Masters for the DIY space and <a target="_blank" href="https://www.propertyobserver.com.au/news/casula-in-sydney-s-south-west-to-get-its-costco/2013031059802">Costco </a>and IKEA both expanding in Australia. 
The 2012 shopping centre investment review report from Jones Lang LaSalle says activity in the sub-regional and bulky goods sectors increased in 2012 with opportunistic investors emerging to capitalise on wide yield spreads including those offered in the bulky goods sector.
The JLL report says there was a “significant revival in activity” in the bulky goods sector in 2012 with over $613.2 million worth of bulky goods (homemaker) centres traded in 2012, 87% above the 10-year average ($328 million). 
Yields have been high with the Home Hub Hills bulky good centre in Castle Hill, Sydney purchased by LIM last year on a yield of 9.32%. 
“This sector has been attractive for a number of reasons. 
“The investors targeting this asset class recognise that the prime assets have stabilised and a recovery in retail spending, combined with a potential revival in residential construction, could strengthen the performance of prime centres. 
“In addition, there has been relatively low competition for these assets with the absence of A-REIT’s as active buyers and centres can be acquired on attractive yields,” says JLL. 
A-REITs continue to exit this sector as evidenced by Charter Hall’s sale of Mile End Homemaker Centre ($43.8 million) and GPT’s sale of Homemaker City Jindalee ($50.5 million) and Homemaker City Aspley ($41.2 million). 
The 32,000 square metres of lettable area in the Maroochydore Centre includes 20 retail stores and 4,185 square metres of office space, more than half of which is leased to Goodlife Health Club. 
Just four tenancies remain in the bulky goods store measuring 125 square metres, 510 square metres, 515 square metres and 1,320 square metres. 
The indoor centre was developed and is anchor-tenanted by Harvey Norman. 
Other tenants include Joyce Mayne, Domayne, Nick Scali, Plush, Next Byte, The Outdoor Furniture Specialists, Akasha, Sleepy’s, 2 Garnish and Global Living Furniture. 
The leasing agents for the centre are CBRE’s Damian Crocetti and colleague Nick Willis. 
Crocetti says the centre is well positioned to take full advantage of the ‘Homemaker Market Boom’ with bulky goods spending in the catchment area totaling an estimated $1.029 billion according to Deep End Services. 
The complex is situated just 1km west of the Maroochydore CBD and only moments from proposed Bunnings and Masters sites. 
It is adjacent to the largest shopping centre on the Sunshine Coast, the Best &amp; Less, Coles, Kmart, Myer and Target anchored Sunshine Plaza. 
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Bulky goods revival continues as Harvey Norman Maroochydore centre now 91% leased

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There is good news for retail property landlords with ice-cream franchise Baskin-Robbins announcing plans for another 200 shops in Australia over the next 10 years, tripling the chain's presence in the country.
On a smaller scale, relative newcomer to the market <a target="_blank" href="https://www.smartcompany.com.au/retail/20090804-ice-cream-chain-ben-a-jerrys-comes-to-australia-with-franchising-plan">Ben &amp; Jerry's</a> is planning an additional 30 stores across Australia.
Baskin-Robbins has entered into a master franchise joint agreement with Galadari Brothers, the parent company of Galadari Ice Cream Co, which is a long-time Baskin-Robbins licensee for the Middle East.
The tie-up comes after <a target="_blank" href="https://www.smartcompany.com.au/franchising/20101021-breaking-news-allied-brands-loses-baskin-robbins-franchise-rights-receivers-appointed-to-subsidiary">former master franchise Allied Brands </a>was stripped of its Australian franchise rights for the Baskin-Robbins franchise by the US owner of the brand, Dunkin' Brands.
Dunkin' Brands will maintain a 20% stake in the new joint venture while Galadari will be primarily responsible for day-to-day operations in Australia.
Galadari will open additional franchise locations as well as corporate-owned and operated stores, with each company jointly contributing $2 million over the next three years for marketing.
"Galadari has done an outstanding job of making Baskin-Robbins one of the pre-eminent ice cream brands in the Middle East, and we believe they can do the same in Australia, one of our high opportunity markets," said Giorgio Minardi, president of Dunkin' Brands International in a statement.
Ben &amp; Jerry's is also expanding in Australia with the opening of its fourth Scoop Shop franchise on the Gold Coast.
The expansion of the ice-cream chain into new states is part of a larger rollout plan, introducing Ben &amp; Jerry's packaged product and franchise outlets into new states with up to 30 franchise shops across Australia planned.
Launched in Australian in 2009, Ben &amp; Jerry's brand manager Kalli Swaik said in a statement the plan is to make the brand available across the nation.
The ice-cream chain aims to open up in key sites along the east coast including Circular Quay, Darling Harbour and Sydney CBD in New South Wales, Melbourne CBD, Southbank and St Kilda in Victoria, and Brisbane CBD, Broadbeach, South Bank and The Valley in Queensland.
"We're on the hunt for a team of dedicated Scoop Shop owners to help us spread peace, love and ice cream across the country," Swaik said in a statement announcing the expansion.
Jason Gehrke, director of the Franchise Advisory Centre, told SmartCompany Baskin-Robbins' ambitious plans were achievable provided it was prepared to invest enough.
"That will substantially increase their chances of achieving that growth target but it is not going to happen without a significant commitment of resources on the master franchisees behalf," he says.
"Baskin-Robbins is a mature brand in the Australian market today so the question is: What is new and different about this agreement that will cause a stampede of franchisees?"
In contrast, Gehrke says Ben &amp; Jerry's is a new player on the market and one that has been relatively conservative in its initial approach.
"So that relative newness and perceived vibrancy will be its competitive advantage in appealing to the market," he says.
"But these businesses are all affected by seasonal variations and consistent high temperatures are very good for these kind of businesses but one or two cool summers would quite severely impact a franchisee turnover."
Gehrke says there are already plenty of well-established ice-cream franchises in Australia and an additional 230 stores will add to the already hot competition for ice-cream customers and for sites.
"Often you find the more players in a market, the bigger the market segment becomes. The question is can everyone make money out of it," he says.
"These businesses are all going to be competing for sites as well and if you have multiple brands competing for the same locations that may have the knock-on effect of pushing up rents where rents are otherwise stagnating."
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au/">Smartcompany.com.au</a>
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Baskin-Robbins and Ben & Jerry's plan another 230 stores

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The striking glass-fronted premises of Paul Mathis’s FireChief restaurant in Camberwell Junction has been listed for auction on March 21.
The property, at 169 Camberwell Road, Hawthorn East, was formerly an auto shop before being entirely refurbished to incorporate FireChief plus laneway café Goldilocks in late 2011.
The 455-square-metre site has 10.67 metre street frontage to Camberwell Road and caters for suburban moviegoers, being just 100 metres from the Rivoli Cinemas.
The property is being marketed by Grita Angelucci from John H Castran and Fitzroys agents Chris Kombi and Mitchell Humphreys.
Kombi tells Property Observer, the restaurant premises are expected to sell in a price range from $4 million to  $4.3 million - a yield of around 6%.
"We have received interest from private investors. Interest has been good," he says.
The Italian restaurant, with its three pizza ovens and Naples-trained chef, is licensed for 200 seated patrons at any one time.
The property is leased to Mathis for seven years with two further seven-year terms and returns $260,000 per annum plus GST with fixed annual increases.
Mathis is a celebrated “concept” chef with FireChief renowned for its pizzas, which include a classic minimalist Naples-style pizza and an ‘Aussie’ pizza topped with an egg.
The restaurant and cafe are located within the Camberwell Junction activity hub next to Dan Murphy’s, Dick Smith, Rivoli Cinemas and to the rear, The Well Shopping Centre, Coles Supermarket and Burke Road’s retail precinct.
Other eateries established by Paul Mathis in Melbourne over the past two decades include Blue Train, Automatic, Taxi, Transport Hotel, Soul Mama, Chocolate Buddha, SOS and the 100 Mile Café.
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