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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Mortgage lending did not bounce back in the first month of 2013 with first-home buyers participation in the market remaining at near nine year lows.
The ABS records that the total number of owner occupied housing commitments fell 1.5% in January to 44,483 home loans.
This follows a 1.5% fall recorded in December.
A survey of 19 economists by Bloomberg this week had forecast a 0.5% rise in mortgage commitments over January.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments remained at 14.9% in January 2013.
This is the weakest proportion of first-home buyers in the housing market since June 2004 and just two percentage points off the record low of 12.8% in March 2004 for ABS figures going back to July 1991.
Between January 2013 and December 2012, the average loan size for first home buyers rose $2,800 to $297,100.
The average loan size for all owner occupied housing commitments fell $1,200 to $307,100 for the same period.
Accordingt to the ABS, mortgage commitments for the purchase of established dwellings were flat over January.
The figures indicate the residential construction sector remains weak with the number of mortgage commitments for the construction of dwellings falling 0.2% in January 2013, after a rise of 1.6% in December 2012.
On a trend basis, commitments for the construction of dwellings fell marginally (0.1%), the seventh consecutive monthly fall in this series.
Commitments for the purchase of new dwellings rose 2.3% in January 2013, following a rise of 2.3% in December 2012 on a seasonally-adjusted basis.
The total value of owner occupied housing commitments rose 1.3% in January 2013 on a seasonally adjusted basis to $13.76 billion.
 
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Home lending down 1.5% in January with first-home buyer activity still at near nine-year lows: ABS

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Bunnings has acquired the Supa Centa at Tuggerah on the NSW Central Coast, owned by Betty Klimenko’s family real estate group Terrace Tower.
Terrace Tower was founded by Klimenko’s father, the late John Saunders, co-founder of the Westfield Group.
The centre is located at the corner of Wyong Road and Bryant Drive in Tuggerah and is billed as the Central Coast’s largest home &amp; lifestyle centre.
Tenants include The Good Guys, Bunnings Warehouse, Spotlight, Nick Scali, Fantastic Furniture and Bing Lee.
Other commercial properties owned by Terrace Tower include the Eastgardens shopping centre and Moore Park Supa Centre in Sydney’s eastern suburbs and the Crowns Gardens apartment block in East Sydney.
Klimenko, with her distinctive pink hair and tattoos, is a motorsports fanatic and owns the Erebus Motor Sport team, which raced a Mercedes at the V8s in Adelaide earlier this year.
Bunnings plans to increase the size of the store, one of the better performing in the group, and give it a more modern format, Fairfax reported. Bunnings is owned by Wesfarmers. 
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Bunnings acquires Betty Klimenko family-owned Supa Centa at Tuggerah

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Concerns that incentives granted to developers and housing groups under the National Rental Affordability Scheme (NRAS) are being sold on a secondary market are to be investigated as part of the federal government’s review of the scheme.
The Australian Financial Review has reported that some developers were selling incentives for between $10,000 and $30,000 each.
Ahead of the release of the fifth round of 10,000 incentives, Mark Butler, the federal minister for housing and homelessness, said he had “heard the concerns about the timely use of incentives”.
“We will continue to refine this innovative program,” he said.
The scheme has come under attack from the opposition housing spokeswoman, Senator Marise Payne, who said its aim was to provide affordable housing – not for developers to make a quick profit.
An incentive allows for the building of an eligible NRAS home – property investors get an annual tax-free incentive of just under $10,000 and eligible renters get a 20% discount to the market rent.
Around 11,300 homes have been built under the scheme with a noticeable pick-up in delivery of new NRAS housing in the last 18 months.
Developers like David Devine’s Metro Property Development group have stepped up their marketing of NRAS properties with around half of new Brisbane apartments offered to investors under the scheme.
The government aims to build <a target="_blank" href="https://www.propertyobserver.com.au/developments/government-to-expand-nras-scheme-with-aim-of-50000-homes-by-2015/2013030659767">50,000 new homes under NRAS by 2015</a>.
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Federal government to review NRAS scheme over incentives trading

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The Queensland Government has given the world a new definition of insanity.
A time-honoured definition is doing things the same way but expecting different results. Queensland’s state government, in seeking to breathe life into its failed First Home Owners Construction Grant, has come up with a new form of nuttiness: doing things the same way but giving it a new name.
Since the grant scheme – which gives $15,000 to first-timers who build new homes – was launched in September, just 126 have taken advantage of it. The government’s solution is to keep the scheme unchanged but to rebrand it.
I’m an optimist by nature but I despair of politicians ever understanding real estate or implementing measures that genuinely help the industry.
The Queensland flop continues a long history of failure by government grant schemes for housing. Despite the low success rate, governments continue to offer small sums of money to first-time buyers and wonder why it never works.
The building industry fuels the failure by lobbying government to give handouts to people who buy or build new homes. They must know this approach essentially doesn’t work, but the Master Builders Association has recently lobbied the federal government to boost grants to first-home buyers.
Perhaps the building industry was fooled by the upturn in first-home buying activity in 2009, at a time when federal grants were particularly generous. But it wasn’t the grants that inspired first-time buyers – it was vastly improved affordability through lower prices and sharply lower interest rates, in the wake of the GFC impact.
Grants simply don’t work. They do little to bridge the gap between the cost of a new home and the cost of established housing of similar standard. The new product, on average, costs $70,000 more and a grant of $7,000 or $15,000 doesn’t cut it when young hopefuls do their sums.
The core problem is the component of government taxes and charges in the cost of new dwellings. The research indicates that government imposts such as stamp duty can be as much as 40% of the cost. That means a $400,000 house-and-land package would cost just $240,000 if those imposts were removed.
In offering a relative pittance to buyers, politicians are giving with one hand and taking 10 times as much with the other. And they wonder why their schemes don’t work.
Even a scheme happening in the Port Macquarie region of New South Wales – where first-home buyers can get over $40,000 in benefits through a mixture of council rebates, state government grants and stamp duty concessions – doesn’t come close to bridging the whole gap between new housing costs and established house prices.
You have to wonder: do politicians really fail to understand why their policies don’t work? Or do they indulge in cynical exercises to give the appearance of doing something for young buyers, while continuing to milk real estate as their favourite cash cow.

Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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First-home buyer grant schemes simply don't work: Terry Ryder

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The Reserve Bank will leave the cash rate unchanged at 3% when it next meets to decide on monetary policy on April 2, according to the latest Bloomberg survey of economists.
Of the 25 economists polled by Bloomberg on March 8, 24 expect the cash rate to remain unchanged.
The only economist expecting the RBA to cut the cash rate in April is Dominic Bryant from French investment bank BNP Paribas Asia.
Last week, he, along with Macquarie Bank chief economist Richard Gibbs, were the only two economists out of 27 polled by Bloomberg who tipped the RBA to cut the cash rate in April.
Gibbs has since altered his view, leaving Bryant the lone economist tipping an April rate cut.
Looking beyond April, a significant majority of economists – 16 out 25 – expect the cash rate to also remain unchanged in May.
A majority of economists (15 out of 25) expect the cash rate to be lowered in June with 13 expecting a cash rate of 2.75% and two – notably Macquarie Bank’s Richard Gibbs and NAB’s Alan Oster – tipping a cash rate of 2.5% with both economists expecting 25 basis point rate cuts in May and June.
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No rate cut in April say economists: Bloomberg survey

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Canberra’s Molonglo Valley First Release Sets the Foundation
One of the key points about Canberra’s Molonglo Valley is that <ins cite="mailto:Administrator" datetime="2013-03-06T15:09"></ins>the development might well take as much as fifteen years to complete and there is no doubt that market dynamics will change constantly. Fifteen years is a long time to be in the market, but with large projects of this kind it is not uncommon, even much smaller projects are frequently in the market for 3 – 5 years. It’s a hallmark of this facet of project marketing and as a result there are some conventions that we need to be aware of and always aim to tick-off. Step one is a highly successful launch.
Any project launch is important, because it sets in place the ground rules for how the brand will be seen in the market. If the brand gets off to a flying start, as was the case with Molonglo Valley, then future success will be more readily assured as the brand then moves from strength to strength.
By contrast, a poor start takes a lot of hard work to reverse, over time it’s not impossible, but if we look at how Molonglo Valley was launched we can see some clear pointers on <ins cite="mailto:Administrator" datetime="2013-03-06T15:10"></ins>how to achieve an outstanding launch. And that’s the result every project is looking to achieve.
Solid Planning and Some New Ideas
Every major land estate development will be sold in stages, and market conditions will always dictate how and when each stage is released. While other projects can also be released in stages the land estate environment is very different because of a number of key factors. One difference is the amount of time involved and the second is the reality that while new stages are planned and sold, early stages will already be complete and residents may well be living in their new homes. Your brand if you like is being tested while you are still very much in the market and this sets up some ongoing marketing dynamics that I will return to.
In this light the first release of 100 blocks at Molonglo Valley had the marketing team on the starting blocks facing a very long race, and for everyone involved the goal to achieve a great launch was clearly understood. In the Canberra market this had been a much anticipated land release, there was clearly pent up demand, the land would be popular but still there was a need to engage the market with a product that was still very much a vision.
First Release by Auction
"Almost immediately after the ACT Government announced that the land would be developed for residential housing we had buyers and builders eager for the first release, I think it was clear that Molonglo Valley would be a new chapter in Canberra's history and many people wanted to be a part of it."
“The market was ripe with expectation and so our role was to work and manage this first release, already aware that since the first announcement was made more than 1000 expressions of interest had been received.”
According to Shane Radnell, General Manager of Residential Land Estate Marketing at Colliers International Canberra, this was the market setting the scene for one of the largest land auctions of its kind and what would be a record event for Canberra’s residential market.
With agreement that the first release would be built around a sales path culminating with an auction in June 2010, the marketing of Molonglo Valley got underway.
No Site Inspections Possible
Formal registrations of interest for Molonglo Valley got underway on Friday 23rd of April 2010 and the results as might have been expected were immediate, many more people anxious for information soon joined the already 1000 early birds.
The opening of registrations was however preceded by intense planning and a variety of key marketing assets were in place to ensure that this wave of activity was well managed.  However outside of all of this bluster was the fact that the site of the first release was planned, and the suburbs had a name Wright and Coombs, but beyond that the land had not yet been developed, it was not possible to visit the site, walk the streets or physically see the blocks that were to be taken to market.
Clearly by any account this was a unique challenge, if you like we could make the comparison to selling apartments ‘off-the-plan’ but there was for want of a better comparison not display apartment. The location was familiar and the entire location could be seen from some nearby vantage points and so the gap had to be filled and this is where the team at Colliers International in Canberra delivered with a strong marketing plan and more than a few ounces of inspiration.
“Before we moved to open formal registrations in April we already knew that with an auction date of 19th June, we would face an intensive sales path and so we had to plan a robust plan.
“The sheer number of people who had registered in part dictated that how we managed and presented the details about Molonglo Valley would need to give our potential buyers, both private buyers and builders, the information and reassurance they needed to buy at auction, otherwise the process could have failed,” said Shane Radnell.
The sales path was built around several key steps, some will be familiar with the use of some new technology being a first and a clear way of adding lasting value to the brand.
 
<hr class="system-pagebreak">
Getting Value from Registrations
As might have been expected once formal registrations were announced the project website received an immediate and ongoing rush, and registrations were required to secure a time to visit a purpose built CBD sales centre. Every person who made a registration request was then contacted by the sales team and given help with all the information they required, this involved a great deal of buyer interface and as I have frequently pointed to this was not a process driven by auto-response or a self-select menu.
By the time any of the people who had registered came to the sales centre, they were already well versed in the process and would have been somewhat familiar with both Molonglo Valley and the sales team member looking after them.  I have always championed this level of personal connection and on auction day this level of familiarity and informality would be important.
The Sales Centre
Well ahead of the call for registrations and during the modest pre-launch advertising campaign a purpose built sales and information centre was completed.
The location of this centre was again a key part of the sales path, it was located in Canberra City in New<ins cite="mailto:Administrator" datetime="2013-03-06T15:12"></ins>Acton in an easily accessible spot with ample nearby parking and was open out of normal business hours. According to Shane Radnell, the aim was to make it as easy as possible for people to visit via scheduled appointments and the centre is still in use today.
“The sales centre and its contents were a key part of a very deliberate sales path, the centre was very spacious, even understated, it had high ceilings and a level of quality that some land estates do not usually offer.
“It was all about creating an open comfortable impression, direct sales material was very limited, we concentrated on helping potential buyers understand the site to make this first impression Molonglo Valley a stand out and we used a new form of interactive table top technology to aid the sharing of core information. ‘Hii’ as the unit is <ins cite="mailto:Administrator" datetime="2013-03-06T15:12"></ins>now know, was <ins cite="mailto:Administrator" datetime="2013-03-06T15:12"></ins>the first application of its kind.”
New Technology
‘Hii’ or Human Interactive Interface was a new tabletop application first used to launch Molonglo Valley, is <ins cite="mailto:Administrator" datetime="2013-03-06T15:13"></ins>an interactive platform that the sales people drive. The system allowed complex and detailed information to be displayed at a very engaging level taking buyers on a visual journey that started with an aerial birds-eye view of the site and then drilled down to the full details of individual blocks.
Then at the end of the presentation all of the selected details were instantly sent by email to the buyer. Feedback was excellent and buyers clearly indicated that the Hii unit helped give them a very clear picture of Molonglo Valley.
Results – Nothing Taken for Granted
Reading many of my and Shane’s comments you might be initially tempted to think that Molonglo Valley was at its launch gold-plated, high demand, a great location, big blocks and affluent target market, and while all of those facts are true, any new release always involves risk.
In Canberra there were several very high hurdles to jump that only solid planning and the delivery of key assets overcame to help ensure the delivery of the outstanding results that were achieved. In my final Molonglo Valley post I will recount these and bring us up-to-date with where the project now sits in 2013 and I will also take a look at Canberra’s Land Rent Scheme, which is part of the ACT Government’s Affordable Housing Action Plan.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
 
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Molonglo Valley's successful launch is a great example: Peter Chittenden

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First-home buyers shouldn’t ignore personal insurance – such as life or disability insurance and income protection – thinking they’re too young to need it or can’t afford it.
Appropriate insurances are essential for anyone with a home loan or any form of significant debt.
It doesn’t matter if you’re a 25-year-old buying your first house or a 45-year-old upsizing the family home for the third time, personal insurance should be a not negotiable.
Anyone with a major financial commitment such as a mortgage, no matter what their age, really needs to look at having personal insurances in place to protect themselves.
There are a range of insurances on offer and understanding these helps people to put a risk management strategy in place that will work for their individual circumstances:
Income protection – Income protection insurance will cover up to 80% of your pre-tax salary if you are temporarily unable to work due to illness or injury. The premiums are tax deductible.
Trauma insurance (also known as recovery insurance) – Pays a lump sum if you are diagnosed with a serious illness such as cancer, heart attack or stroke, or undergo major surgery.
Total and Permanent Disability (TPD) insurance – Pays a lump sum if you become totally and permanently disabled.
Life cover – Also called life insurance or term insurance, this pays a lump sum when you die or become terminally ill.
While it needs to be recognised that first-home buyers are often juggling a tight budget, it's also true that they can't afford not to have appropriate insurances in place.
Insurance premiums might add an extra $80 or $100 to the monthly budget, but the cost of not having cover in place could potentially be devastating.
If the concern is that they can’t afford the $80 or $100 a month in premiums, then what happens if they are no longer able to work? How does everything from the mortgage to the electricity and groceries get paid?
The earlier in life you put personal risk insurance in place, the more affordable it will be. Generally speaking, insurance premiums for a 25-year-old are significantly cheaper than for a 45-year-old.
Taking out the insurance when you’re young and presumably fit and healthy means it’s easier to be approved for the insurance in the first place, and it will be cheaper.
Insurance industry figures show more than three out of four Australians will contract a serious illness at some stage in their working life.
Many people mistakenly believe they only need to worry about insurance when they have children.
While having a family heightens the need, if you’re a single person solely responsible for your mortgage, how would that mortgage be paid if you had an illness that meant you couldn’t work for a year?
It might be that life insurance isn’t such a priority as you don’t necessarily need to leave money behind, but income protection and trauma insurance could be the difference between being able to keep your house or not if you had an accident or became ill.
<address>
Joe Sirianni is executive director of <a target="_blank" href="https://www.smartline.com.au/" rel="nofollow">Smartline</a>. 
</address>
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First-home buyers need personal insurance: Joe Sirianni

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The amount of time Sydney dwellings are spending on the market has shortened considerably, according to the latest information from RP Data.
Figures for the week ending March 3 showed Sydney houses and units were spending an average of 66 days and 49 days on the market respectively.
However, figures for the week ending March 10 showed Sydney houses were spending an average of 50 days on the market, and Sydney units an average of 38 days.
<img style="font-size: 0.8em;" alt="timeonmarketmarch12" height="361" width="470" src="/images/stories/2013/03/timeonmarketmarch12.gif">
'Time on market' (TOM) is the average number of days between when a property is first listed for sale and the contract date.
The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks. The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Sydney houses and units selling faster: RP Data

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Bulky good centres provided the highest return to retail property investors in 2012, according to the latest Jones Lang LaSalle shopping centre investment review.
Yields on bulky good centres were stable over 2012 at 9.55% with neighbourhood centres offering the second best return of 8.51% up marginally compared with 2011.
The lowest yields (6.28%) are on offer for the most expensive assets sought by mainly institutional investors - regional shopping centres.
"With spreads wide on so many measures, it presents investors with certain risks and opportunities.
"It suggests asset repositioning can potentially be more rewarding and that there is potential capital growth to be derived as spreads ultimately narrow to long-term average levels.
"Some investors have emerged to take advantage of some of these trends, particularly in bulky goods and sub-regional sectors," says Jones Lang LaSalle.
<img alt="shopping_centre_yields" height="530" width="470" src="/images/stories/2013/shopping_centre_yields.gif">
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Bulky goods centres offer highest retail property yields: Chart of the week

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All purchasers must define their own needs. Owner-occupiers are different to investors and want very different things from property. Investors who purchase off-the-plan should be buying for the medium- to long-term.
“Buying for the short-term is risky in the current environment. Look to holding a property for five to 10 years, and that will allow you to ride out any negative movements in the market that could reflect in the value of the property. If you stick with the long-term you will end up with solid capital growth,” says Tim Rees, director of CBRE residential projects.
Investors, who accounted for about 70% of sales six years ago, once dominated buying off-the-plan. But the tide is turning.
Rees says that owner-occupiers have become shrewd in buying property off the plan in recent years, and that purchases off-the-plan have become popular.
The tight residential market in Sydney, where owner-occupiers have seemingly embraced buying off-the-plan or face never getting started on the property ladder, has driven this, Rees says.
“In Sydney there are not many apartment buildings these days that are not already sold when they are finished, so they do not add anything to the available housing stock.
“This keeps the market competitive and tight, and owners-occupiers understand that buying off-the-plan is a reputable way to buy and no longer the domain of investors,” Rees says.
However, do not always assume that property prices are going to rise. There have also been cases of people paying far more for a property at settlement than they could hope to sell it for in the current market.
When you are considering what might happen to property prices from the time you sign the contract to settlement, you should also research what other projects will be completed over this time frame in the same area.
There could, for example, be a glut of apartments being marketed off-the-plan or due to commence construction, which could create an oversupply rental situation or reduce values.
For great tips on buying off the plan, download Property Observer’s free ebook – <a rel="nofollow" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9" target="_blank">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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