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.

[smartcode_project:default project_id=5743 project_image_fid=372394]

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.

[smartcode_project:default project_id=5743 project_image_fid=927]

<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.

[smartcode_project:default project_id=5743 project_image_fid=375255]

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.”

[smartcode_project:default project_id=5743 project_image_fid=375281]

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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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.

[smartcode_project_cta:default project_id=5743]

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.

[smartcode_project:default project_id=145324 project_image_fid=372749]

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.

[smartcode_project:default project_id=145324 project_image_fid=354343]

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.

[smartcode_project:default project_id=145324 project_image_fid=354347]

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.

[smartcode_project:default project_id=152069 project_image_fid=374394]

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.

[smartcode_project:default project_id=152069 project_image_fid=374399]

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.

[smartcode_project_cta:default project_id=152069]

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.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<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.

[smartcode_project:default project_id=95289 project_image_fid=366769]

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.

[smartcode_project:default project_id=95289 project_image_fid=366762]

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

<html><body>
Every economy has cycles and we may be approaching the end of one that has been good for mortgage holders.
For more than two years the cash rate – the benchmark for variable mortgage rates – has been falling, from November 2010 when it was 4.75%, to the current 3.0%.
This past week, the RBA held the cash rate at 3.0% and the markets are expecting the local and global economy to pick up slightly which will keep rates steady and perhaps bring some rate rises before the end of this year.
I don’t follow market expectations too religiously, but you get the idea: 3.0% is as low as we’ll probably get this time around.
While the economy has been finding its feet, another factor has emerged. The banks’ cost of sourcing funds from the capital markets has eased.
This is an interesting confluence of forces, because it means as the cash rate rises, it may not hurt mortgage borrowers as much as it should; and with funds relatively available from wholesale sources, the banks won’t have to offer premium yields on cash deposits in order to attract those funds.
Regardless of how this plays out, rising interest rates affect people in different ways.
Firstly, people relying on cash investments should be shopping for institutions who stay in step with cash rate rises.
This is crucial, because with a resurgent economy also comes inflation, and rising inflation is the enemy of cash investors.
Those who need to retain cash as their core investment should keep their money in the best-yielding term deposits and cash accounts, while also looking at bonds and dividend yielding (conservative) shares as a way of keeping their risk low and returns relatively high.
Simply sticking to ‘safe’ cash ignores the danger that inflation takes your gains.
Secondly, if interest rates rise this year, but bank funding costs also ease, this year mortgage borrowers should be alive to the prospect of refinancing.
There’s already a daily spread of around 1% between variable rate mortgages, which represents a difference on a $250,000 loan of around $140 per month.
As cheaper funding comes back into the Australian lending system while mortgage rates rise, this spread between lenders will probably become wider as lenders position themselves for market share and the incumbents try to stop inroads into their customers. Stay open to deals.
Thirdly, if we do see a couple of rate rises later in the year, business borrowers must stay vigilant about their interest rates and loan security.
It can be difficult researching how much you should pay for business credit, because all sorts of deals are done that mean you can’t always compare apples with apples.
One way to ensure you’re not paying too much is to use a finance broker who stands in the market for you and who knows what other business owners are paying.
Lastly, remember this: you can’t beat the cycle, but by staying informed and being prepared to act, you can profit from it.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
</body></html>

mbouris-tauSvXGAM2

You can't beat the cycle, but you can profit from it: Mark Bouris

<html><body>
The six-bedroom Potts Point terrace of Fat Prophets boss Angus Geddes fetched $2.18 million at its recent auction, selling $180,000 above the quoted price.
But the triumphant result was actually emblematic of the growing misconception that is emerging from the 70% clearance rates of recent weekends.
As the stockbroker Angus Geddes, founder and chief executive of Fat Prophets, and his wife, Maryam, had paid $2 million for <a target="_blank" href="https://www.mcgrath.com.au/buy/house-potts-point-nsw-2011/174089/?searchID=27019105">their grand Victorian terrace residence</a> (pictured below) in 2008.
<img alt="pottsmarch11one" height="313" width="470" src="/images/stories/2013/03/pottsmarch11one.jpg">
That represents 1.8% annualised growth over the past five years.
The Geddes had formed the view – no doubt with the guiding assistance of the listing agent who became the selling agent – that the price achieved was "at the top end of our range at auction."
<img alt="pottsmarch11three" height="313" width="470" src="/images/stories/2013/03/pottsmarch11three.jpg">
But while Angus Geddes comes from an industry with no stamp duty and low commission fees, the $180,000 windfall was severely reduced by the $96,000 NSW stamp duty, and then several other selling costs and holding charges.
Hardly fat profits for the well-heeled professional classes.
And OK, so a bit over reserve but certainly nowhere near the requisites to warrant the recent headlines saying it's back to boom times. Ditto the weekend's top sale which was $2.9 million in Randwick. The Govett Street house had last traded at $2,705,000 in 2006, thereby reflecting 1.1% annualised growth.
In Melbourne, mimicking the same trend, fashion designer Alannah Hill’s South Yarra terrace recently sold for $4.365 million - $150,000 above the reserve price - but having traded at $4.31 million in 2010.
There's actually an acute price sensitivity that belies any boomtime enthusiasm traits.
Those recent headlines have been nothing short of reckless – arising from the one obvious characteristic of auction clearances in Melbourne and Sydney being around 15 percentage points higher than a year ago.
What has happened is that for the first time in years both vendors and buyers are on the same page pricewise, so auction successes have become the norm. Estate agents have needed to be patient and pursuasive to get the market to this juncture which began to emerge in spring last year when clearance rates didn't tail off as per normal.
What's interesting is that Sydney's 2013 APM auction volumes have, after a slow start, kicked along well up on the volumes of last year – possibly due to the late 2012 bouyancy along with the early Easter scheduling – but tellingly overall SQM listings are markedly down. Melbourne just has more and more listings.
True vendors must have a dose of reality that their desired prices are not at boomtime levels, and in some cases not even at pre-Global Financial Crisis levels. Buyers have to pay a little more than their initial hopes.
Thankfully, the senior property commentators at RP Data and Australian Property Monitors were out over the weekend to dampen things down.
“It is a run, not a boom,” Andrew Wilson, the Australian Property Monitors senior economist, told The Australian Financial Review.
“The best term is recovering,” says Tim Lawless, research director of property information provider RP Data.
Lawless predicts that, with the current modest gains in prices, values will regain the 2010 peak only by the end of the year.
And I'd suggest let's all see how the inevitably-hyped March 23 super Saturday results fare, with APM advising Property Observer to expect 670 auctions in Sydney and 1100 in Melbourne in the pre-Easter crescendo.
</body></html>

jchancellor-FAypfDUnLy

Improved auction clearance rates the latest fashion, but no price boom and few fat profits

<html><body>
Four years have passed since Citta Property Group's proposal to redevelop the contentious St Kilda Triangle site was rejected with the premium Melbourne site still an asphalt car park servicing the hordes of visitors from far and wide so they can grace the St Kilda foreshore and surrounds.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Triangle%20proposal%20looking%20towards%20Palais.jpg" rel="gallery-all" title="Former St Kilda Triangle Proposal. Image © Citta Property Group"><img alt="" class="image-article-full-width-580px" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/Triangle%20proposal%20looking%20towards%20Palais.jpg?itok=9zNKCsbx" title="Former St Kilda Triangle Proposal. Image © Citta Property Group" width="580"></a>

<figcaption>Former St Kilda Triangle Proposal. Image © Citta Property Group</figcaption></figure>The site was once swampland, yet was transformed into recreational space after the foreshore was drained and reclaimed. During 1906 the St Kilda Council established the Foreshore Trust and the area was re-invented by Carlo Catani into a mediterranean style resort consisting of the iconic Luna Park in and amongst tearooms and a kiosk similar to what was found in Catani's motherland. Today the St Kilda Triangle site is precisely that, a triangular shaped parcel of land bordered by The Esplanade to the north and St Kilda foreshore/Jacka Boulevard to the south. Along with Cavell St, the heritage listed 1920's Henry E. White-designed Palais Theatre forms the eastern border. In a larger context the site is located neatly between the restaurant strip of Fitzroy Street to the north and the once prodominently Jewish enclave of Acland Street now consisting of bars and the popular and famous cake shops.

However for much of the areas existence the publically owned land has been underutilised as an open air carpark which triggered the development of the St Kilda Foreshore Urban Design Framework (UDF) during 2001 in an attempt to increase the area's amenity, and better serve the ever increasing patrons using the foreshore. The UDF identifed several principles for the future of the triangle site with one including a low rise development whilst protecting and enhancing the local culture with provisions for increased public space and ensuring that the area remained consistent with its entertainment history as set out by Carlo Catani.

By mid 2007, the Port Phillip City Council and the State Government had awarded a tender to lease and redevelop the St Kilda Triangle to Citta Property Group in partnership with the then Babcock &amp; Brown following an expressions of interest process that took some years to complete. As part of the redevelopment, Citta Property Group gathered a clutch of designers and advisors in order to provide the most appropriate outcome for the site's setting. Local architecture firm Ashton Raggatt McDougall joined the team, known for their unique and interesting interpretation of architecture and its relationship with street level amenity.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/leading%20to%20the%20foreshore.jpg" rel="gallery-all" title="View to the St Kilda Foreshore. Image © Citta Property Group"><img alt="" class="image-article-full-width-580px" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/leading%20to%20the%20foreshore.jpg?itok=0O-exGqA" title="View to the St Kilda Foreshore. Image © Citta Property Group" width="580"></a>

<figcaption>View to the St Kilda Foreshore. Image © Citta Property Group</figcaption></figure>A boutique hotel, TAFE campus, retail outlets with a mixture of local and chain establishments, various nightclubs and bars (including Ministry of Sound) were in the mix which also included public open space in the form of an extensive grassed area above the retail outlets and underground car parking spaces.

Invariably along with the announcement of this proposal came a flood of local community opposition to the scale of the development in a much loved area of Melbourne, primarily lead by the action group UnChain St Kilda. Accordingly to the <a href="http://www.unchain.org.au" target="_blank">group's website</a> they are an incorporated body of people that were brought together by the proposed overdevelopment of the St Kilda triangle site. They contend that community discontent surrounding the proposed development were a result of poor governance at local and state levels. UnChain St Kilda lead the community backlash against the proposal which culminated in fiery council meetings which packed out the Port Phillip Council Chambers and created headlines across print, TV and radio media at the time. At the height of local discontent during 2007 their overdevelopment message was supercharged by local celebrities such as Dave Hughes and Rachel Griffiths to name but a few, with a documentary titled <a href="http://www.theage.com.au/tv/Current-Affairs/Triangle-Wars-2862204" target="_blank">Triangle Wars</a> also highlighting the amount of anger and vitriol present at the time. The film followed the journey of a number of key figures in the battle including the diminutive vocal Frenchman, Serge Thomann who went on to win a seat at Port Phillip City Council in 2008 following the UnChain St Kilda campaign.

When talking about the St Kilda Triangle saga, we cannot leave out Dick Gross, at the time a former Port Phillip City Councillor who gained local notoriety as a supporter of the failed Citta Property Group proposal. Both Thomann and Gross have maintained a long standing feud that revolved around the St Kilda Triangle site development. During 2007, Gross said of the proposal "I was part of the Council that had the culture of saying no to everything. And by saying no we got a feeling of virtuous righteousness, but we were as impotent as a pre Viagra 70 year old. We were getting nothing done." He went on further, "My fear is that if you say no too often, State Government will come in and impose a solution which will be worse. I promise you that it will be worse."In a way Dick Gross was and still is correct, one of the roles of local government is to be the first port of call for its local constituents for issues affecting the immediate community and acting upon those needs quickly and maturely in the interest of their rate payers.

In the aftermath of the bitter rangling over the future of the Triangle site, the new Council commissioned feasibility studies and conducted a total of four consultations with the community to develop the 2012 St Kilda Triangle Framework. Unsurprisingly, former Councillor Dick Gross was uninspired by the document saying that the lack of details was a disgrace. However on the flip side, Thomann was somewhat more sympathic to the document saying that "it is a little vague, but is looking forward to getting back onto council and expending as much energy on developing this plan and turning it into something more real."

The key features of the document as stated on the Port Phillip Council are as follows:

<ul>
<li>Landscaped public space</li>
	<li>Views of the foreshore</li>
	<li>Low scale sustainable development</li>
	<li>Land for future Palais Theatre improvements</li>
	<li>Principles to guide development of the site</li>
	<li>Live music and performance opportunities</li>
	<li>Improved beach access for pedestrians</li>
	<li>Links to transport, Acland and Fitzroy Streets</li>
	<li>A possible underground carpark</li>
	<li>A funding and implementation strategy</li>
</ul>
These key findings appear reasonable options for the future of the site, but the aspects that really needs to be considered far more in my opinion are transport links and the conduit that the site should provide between Acland and Fitzroy Streets. I believe that this connection is vitally important, leading to the completion of the urban fabric of St Kilda. All efforts should be made to enhance the public realm whilst minimising further auto traffic attracted to the eventual development.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/leading%20to%20the%20foreshore.jpg" rel="gallery-all" title="View to the St Kilda Foreshore. Image © Citta Property Group"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/leading%20to%20the%20foreshore.jpg?itok=uECFS-1C" title="View to the St Kilda Foreshore. Image © Citta Property Group" typeof="Image"></a>

So after years of bickering, campaigns and consultations after consultations, a question that sticks in my mind is what are peoples motivations behind all of this? Some say the community have concerns about crown land being handed to developers to, in their words, build a "Chadstone by the Sea". Were local residents worried that the development would introduce more alcohol fuelled violence to an area that historically has had a problem with such problems? Then there's the loss of vistas over the bay for residents fronting The Esplanade and the loss of "open space" where in fact, the development would have delivered additional useable open space as aforementioned in this article, whilst the design purposely proposed to be low rise as to not lose these much treasured vistas. I believe it was a combination of a lot of different factors but my favourite line came from my former employer during 2008 (and long time St Kilda resident) after a long day in the field when I asked him what he thought of the St Kilda Triangle, he replied by saying "I hate it", naturally I asked why? He responded with "It will reduce the amount of car parking for the locals". As you can imagine at the time I was a little bemused knowing that the development proposed additional car parking as well, but I guess it shows that everyone had their own views on the site, informed or otherwise.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Internal%20courtyard.jpg" rel="gallery-all" title="Former St Kilda Triangle Proposal. Image © Citta Property Group"><img alt="" class="image-article-full-width-580px" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/Internal%20courtyard.jpg?itok=6udMMJrt" title="Former St Kilda Triangle Proposal. Image © Citta Property Group" width="580"></a>

<figcaption>Former St Kilda Triangle Proposal. Image © Citta Property Group</figcaption></figure>Ultimately, and I hate to be the bearer of bad news for some, but I feel the community backlash was not the deathknell for this project that many has suggested. In fact, something that may be considered the elephant in the room in all of this, would be the impact the global financial crisis had on this project going ahead. I would assert that if the GFC didn't hit the global markets at the time of the proposed Citta development moving toward leasing and eventual construction, would we be hanging out at one of the many restaurants at the newly developed Triangle site on a sunny Saturday afternoon sipping sangrias... more than likely.

But it was not to be and the site remains an open air car park and one of the most prized, underdeveloped waterfront locations in Australia. In hindsight, I feel that the Citta proposal was somewhat excessive in context , however when this development eventually does occur I sincerely hope is that the site is not underdeveloped as a result of a community angst still apparent from the events of 2007. Finding the right development balance is the vexing question. Ideally I see the Triangle site linking both Fitzroy St and Ackland St whilst also satisfying the needs of visitors, the local community and the Melburnians at large. We want something to be proud of!

The key features of the framework document provides merely a starting point and much more needs to be done to ensure an outcome that is fitting of this premium location. In finishing I leave you with two points. Firstly, the St Kilda foreshore belongs to everyone and not those that have the means and privilege to be able to live in what is now an exclusive beach side area. Secondly, I would like to reflect on the sentiment of Dick Gross' words, if we say no too often then we run the risk of ending up with an outcome that is worse. Compromising the benefit/enjoyment of the wider community by pandering to the vocal objections of a few could constitute a bad outcome.

<h2>Sources and further reading</h2>

<ul>
<li>http://stkildatriangle.com/</li>
	<li>http://www.unchain.org.au/</li>
	<li>http://www.citta.com.au/pages/projects/st_kilda_triangle.php</li>
	<li>http://stkildanews.com/the-st-kilda-triangle-wars-continue/</li>
	<li>http://vicmps.greens.org.au/content/st-kilda-triangle-development</li>
	<li>http://www.portphillip.vic.gov.au/aug-2012-media_4668.htm</li>
</ul>
</body></html>

flame

St Kilda Triangle site: The missing link

<html><body>Australian Property Monitors (APM) has released a list of results from 116 auctions in Melbourne for the weekend of  March 9. <a style="font-size: 14px;" rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

po-LsXgBTHBmX

APM's Melbourne auction results for March 9 weekend

<html><body>
ANZ has left its standard variable rate unchanged following its March interest rate review - despite new funding costs easing.
ANZ’s standard variable mortgage rate remains at 6.40% per annum (6.50%pa comparison rate).
This follows the RBA leaving the cash rate unchanged at 3% on Tuesday.
“Each month we assess a wide range of factors affecting the ANZ Group and our retail customers as part of the interest rate review. This month those factors included the funding environment and our competitive situation," said ANZ CEO Australia Philip Chronican.
We have seen some easing of new funding costs from both wholesale markets and domestic deposits over recent months which has taken some of the pressure off what had been a relentless rise in funding costs since late 2007.
“Combined with other factors however, the range of ongoing pressures saw the ANZ Group’s net interest margin fall slightly in the first quarter of our 2013 financial year.
“At the same time ANZ’s mortgage lending remains competitively priced for our customers and well below one of our larger competitors.”
Variable interest rates for small business lending also remain unchanged.
</body></html>

lschlesinger-FZcF9M3vE6

ANZ leaves standard variable rate unchanged at 6.4% following independent review

<html><body>
Happy International Women’s Day... oops sorry, did I lose a few blokes with my first words?
I hope not because it’s 2013, not 1973.  Blokes now are much more understanding and supportive of our ability and achievements. There really has been some momentum gained.
This year’s theme for <a href="https://www.internationalwomensday.com/" target="_blank">International Women’s Day</a> is: The Gender Agenda, Gaining Momentum.
It’s actually not that long ago that at our first Federal Election in 1901, only women from South Australia and Western Australia were entitled to vote. So women in all the other states were not allowed to vote.  The other states did slowly followed yet it took Victoria another six years to let women vote.
The first woman to win election to an Australian Parliament was in 1921. Now, in 2013, we have Australia’s first woman Prime Minister. I’m proud of Julia Gillard’s achievement as a woman (not necessarily as a politician), but you don’t hear the blokes saying "gosh that Johnny Howard made me proud when he won the election." It was expected of a male. Wouldn’t it be lovely to keep the momentum up and see more women prime ministers?
Fast forward several decades. In 1974 the minimum wage was extended to women; wow, that was only 39 years ago.  So before this, women were not entitled to the same minimum pay as men.
Whilst we have laws attempting to create equal pay and equal opportunity for women it does not automatically transpire. This was one of the reasons I started my own business. After many years in the corporate world I witnessed much bias. Starting out as a secretary, I used to look forward to having one of my own when I climbed the career ladder. But when I was promoted to these roles, the males had access to support but there was no chance for me having any admin assistance. Perhaps I should have pretended that I couldn’t touch type!
By the time I was ready to have kids, I looked around the office and couldn’t see a way to keep my high-flying corporate role and start a family. I’ve seen business women continue with their corporate careers only to find it’s been an unwitting sacrifice for the opportunity to have children.
But one thing that drove me to keep working whilst raising my kids was the thought of taking ten or even five years off work, then I would be totally dependent on my husband not only during that period but also into our retirement. There would be no contributions made during this time to my superannuation and how could I keep investing in property if I had no income?
My choice to start my own business was to get the flexibility needed to be a mother but also to hold onto my independence. Whilst my husband is a generous man, I had flashbacks to my childhood when my mother would have to ask for her ‘housekeeping money’ from my father each week. Dad was generous too, but to me it represented mum’s dependence on dad. She seemed happy with this setup, but mum had no money of her own, nothing to dip into if she wanted to purchase a little treat for herself or for us kids.  To me, it meant: no money, no independence.
I think there is good momentum with the ‘gender agenda’ but I think it’s up to us to keep our own personal momentum. Women need to take responsibility for their own retirements and plan ahead.
One of my clients is doing just that, in fact I’ve never seen such momentum. Rachel has four children and worked (past tense… keep reading and you’ll see why she had to stop work). In her ‘spare time’ she also studied accounting by correspondence!  When I met her she had already purchased nine investment properties but wanted to move into property developing to propel her portfolio. Property Bloom had just completed a dual occupancy development for Rachel and started a granny flat project when she found out she was pregnant with twins. When she was rushed to hospital and the twins were delivery prematurely, she still found time to close her finance deal so construction wouldn’t be delayed.  She is an amazing inspiration and example of a woman who is focused and won’t let anything get in her way, not even six children!
Momentum comes to those who have done the hard yards. Momentum is an increase in energy or force when something is on a roll. I can see it happening in my business and I can see it happening with women’s equality. So keep moving forward in your world, keep asking for more pay, keep pushing for community projects, keep celebrating achievements and the momentum will carry on for our next generation of women.
Jo Chivers is director of <a rel="nofollow" href="https://www.propertybloom.com.au/">Property Bloom</a>.
</body></html>

jochivers-wq5Bp59R5a

There is momentum in the push for gender equality: Jo Chivers

<html><body>
Four out of five consumers (80%) say now is a good time to buy a home, according to a new consumer sentiment survey carried out by RP Data and online survey firm Nine Rewards in the first week of March.
This is up slightly from the 76% who said it was a good time to buy property when surveyed in October last year.
Rising confidence about stepping onto the property ladder comes as more consumers expect property prices to rise over the next six and 12 months.
More than one third (38%) of those surveyed expect house prices to rise over the coming six months, with 51% predicting prices to rise over the next 12 months.
By comparison, when the survey was conducted in October 2012, 33% of respondents expected home prices to rise over six months, while 42% expected to see a rise over 12 months.
Only 8% of respondents expect prices to fall over the next six months and the next 12 months.
About 54% are expecting prices to remain stable over the next six months and 41% expect no change in house prices over the next 12 months.
RP Data national research director Tim Lawless says the latest survey data shows a substantial upward shift in consumer expectations for housing market conditions.
"The results revealed distinctive differences from region to region where, as an example, 60% of respondents in Perth expected prices to rise over the next six months, and a larger 68% expected higher prices over the coming twelve months," he said
"In contrast, survey participants in Tasmania delivered a much more sedate reaction with only 30% of local respondents expecting prices to rise over the next twelve months."
"As consumer confidence in housing market conditions rises, we are likely to see a larger number of dwelling sales as the year progresses. Transaction data from last year was already showing an improvement in home sales, with 7.6% more homes transacted over the second half of 2012 compared with the first half. If the survey responses are anything to go by, we should see a continuation of this trend through 2013."
The survey also examined what the most important factors were for consumers when choosing a property.
More than half the respondents indicated that their personal financial situation was the most important factor, followed by prospects for capital growth in the housing market (20%), then interest rates (12%).
Only 9.4% indicated job security was their most important factor, while less than 4% indicated government incentives were the most important factor in their decision.
The results of the survey were compiled based on the responses from 1,040 Australians last week.
</body></html>

Housing market sentiment rising with 80% of consumers saying now is a good time to buy: RP Data

<html><body>
The Perth CBD office market will continue to benefit from demand for space driven by companies tied to resources projects with the prospect that the vacancy rate could tighten to below 4% by the end of the year, according to Colliers International.
This compares with a national vacancy rate of 8.3%, expected to rise to 8.8% by January 2014.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/03/colliersmarch8.gif"><img src="/images/stories/2013/03/colliersmarch8thumb.gif"></a>
The Perth market remains highly attractive to investors with premium net rents currently at $835 per square metre and A-grade gross office rents currently at $736 per square metre with yields at a healthy 8.5%.
A-Grade rents have risen 16% since December 2009 and are expected to increase slightly over the next six months.
Perth A-Grade net face rents exceed that of the Sydney core CBD, and remain well in advance of other Australian capitals.
“In dollar terms, Perth CBD is looking increasingly unaffordable with rents getting back up to levels not seen since the GFC,” says Nerida Conisbee, national director of research at Colliers International and author of the latest CBD Office Research &amp; Forecast Report
“All things being equal, Colliers International expects CBD vacancy rates over the next six months to tighten to a mid-year estimate of slightly under 5% with the likelihood of further tightening to around 4.0% by the end of the year.
“However, if the mining sector rebounds as expected, this, together with the expected take-up by the oil and gas sector, could see the vacancy rate contract even further, though this depends on how quickly confidence and investment in the WA resource sector rebounds in 2013.
“The ongoing issue of tight supply, high rents and low vacancies adds further impetus to the need for near-city suburban office development,” she says.
The most recent Property Council of Australia’s (PCA) Office Market Report for the second half of 2012 found that the office vacancy rate for the Perth CBD increased from 4.2% to 5.7% due to decreased demand for commercial office accommodation but also due to a record increase in new office space being completed.
There was 180,000 square metres of new office space added to the Perth CBD over 2012, but only 12,249 square metres of space is forecast to be over 2013.
The tightest Perth market is the premium grade market, which had a vacancy rate of 4.5% as of January 2013, according to the PCA.
From 2014 onwards the new office pipeline will gradually increase again.
Demand for office space will also be impacted by a growing urban population - the population of the greater Perth urban area is expected to grow by more than 35% by 2026, with the residential population of Perth city expected to reach nearly 50,000 over the same period.
</body></html>

Perth CBD office vacancy rate could tighten to below 4% by end of 2013: Colliers International

<html><body>
The auction of a much-hyped vacant Lygon Street shopfront and upstairs residence failed to live up to expectation with the property passed in today.
There were just two bidders at the on-site auction and just one genuine bid of $1.65 million.
The 70 Lygon Street, Brunswick East, property was passed in on a vendor bid of $1.8 million.
Colliers International agents Tom Noonan and Jeremy Gruzewski had expected the property to sell for in excess of $2 million in the tightly held retail and cafe strip.
They are currently working through offers with Noonan expecting to announce a sale early next week.
<img src="/images/stories/2013/03/lygonmarch11one.jpg" width="470" height="314" alt="lygonmarch11one">
Expectations were high that the property would attract a premium with 100 enquiries received prior to auction and around 15 contracts issued.
In October last year, the historic Lygon Street premises of <a target="_blank" href="https://www.propertyobserver.com.au/retail/lygon-street-premises-of-donatis-fine-meats-slices-records-with-emotion-driven-%24289-million-auction-sale/2012103057521">Donati’s Fine Meats</a> sold for $2.89 million at auction, with a private investor paying nearly $1.4 million above pre-auction expectations – a yield of just 2.3% amid “emotionally-driven” bidding.
Gruzewski and Noonan also marketed the Lygon Street butchery last year.
The 70 Lygon Street property stands at on the corner of Lygon and St Phillip Streets. It comprises 226 square metres of space, of which 75 square metres is ground floor retail on a site measuring 230 square metres.
The second floor has a three-bedroom residence.
<img src="/images/stories/2013/03/lygonmarch11two.jpg" width="470" height="314" alt="lygonmarch11two">
</body></html>

Lygon Street vacant corner shop passed in at auction 

<html><body>
Chinese and Malaysian investor appetite for Australian residential development sites and off-the-plan apartments is set to rise over 2013 as both countries undergo political change and a degree of uncertainty.
China has already transitioned to new leadership, with  Xi Jinping replacing Hu Jintao as general secretary of the Communist Party in November, along with six new appointments to the Politburo Standing Committee, the inner sanctum of the Chinese Communist Party, the world’s most powerful political organisation.
While the transition has been smooth, high net worth Chinese investors will be concerned, perhaps even alarmed, at recent reports that Xi Jinping is arguing for a return to "Leninist" principles.
"Why did the Soviet Union disintegrate? Why did the Soviet Communist Party collapse? An important reason was that their ideals and convictions wavered," Jinping reportedly told his party behind closed doors and reported widely outside of China, including by the <a target="_blank" href="https://www.nytimes.com/2013/02/15/world/asia/vowing-reform-chinas-leader-xi-jinping-airs-other-message-in-private?pagewanted=all&amp;_r=0">New York Times</a>.
Such comments - not reported in the state-controlled Chinese press - may encourage Chinese investors to increase their already substantial investment in Australian residential real estate.
Jittery Malaysian investors may also be considering upping their investments in Australia ahead of a national election which must take place before the end of June, with political tensions rising following the recent deportation of Australian independent senator Nick Xenophon, over his apparent support for opposition leader Anwar Ibrahim, which has raised questions about Malaysia's so-called democractic freedoms.
They will also be concerned at the loss of financial market confidence following the benchmark FTSE Bursa Malaysia KLCI Index falling more than 4% since January over concerns that the ruling Barisan Nasional may win fewer seats in parliament.
Melbourne in particular stands out, with Chinese developers investing almost $500 million there in the past two years.
Wallace Wang, a property developer and vice-president of the SRE Group headquartered in Hong Kong and Shanghai, told the ABC in September last year that investing in property in Australia was attractive for its lifestyle, a good return on investment and – importantly – because its regulatory system was transparent.
In a further sign of growing Chinese interest in Australian real estate, the Australia China Real Estate Association set up in Sydney last year to help Chinese investors get a better understanding of the Australian culture and regulatory differences.
 
 
<hr class="system-pagebreak">
Malaysian investors are also active in Melbourne.
“Malaysian investors want to put their money in a strong offshore market like Australia while they still can,” a commercial agent told Property Observer.
In recent months two prominent sites in the Melbourne CBD have sold to Malaysian investors.
In late 2012 <a href="/news">Malaysian developer Mammoth Empire</a> secured a prime development opportunity in the northern fringe of CBD after acquiring the low-rise 398-406 Elizabeth Street site for $15.1 million.
Mammoth Empire is currently building a 55-storey residential tower – MY80 – on the adjoining corner of A’Beckett and Elizabeth streets at a cost of $250 million.
In January a Malaysian investor paid $11 million for the former flagship Fletcher Jones showroom at 1 Queen Street at the north-west corner of Flinders Street, above expectations of around $10 million.
The investor is expected to lease the existing asset and resell it at a future time if commercial prices rise and possibly after it has secured a redevelopment permit, according to a report in The Age.
The former Fletcher Jones premises was marketed by Clinton Baxter of Savills and Matthew Stagg of Colliers International.
The property offers development potential by virtue of its prime corner position and spectacular views along the Yarra River and across to Southbank.
Baxter told Property Observer prior to the sale that the views were “extraordinary – up the Yarra to the MCG, and across the river to Southbank and Crown”.
“The views can never be built out.  So most likely, you will see a brand-new apartment, office or hotel building on the site in a few years’ time,” he said.
Other noteworthy commercial sales to Malaysian investors include the listed Starhill Real Estate Investment Trust, managed by Malaysian conglomerate YTL Corp, which in June paid $415 million for a portfolio of three five-star Marriott hotels – the Sydney Harbour Marriott, the Brisbane Marriott and the Melbourne Marriott.
At the same time as Malaysian investors look to snap up property in Australia, Chinese developers are also looking to escape local property rules and invest offshore in places like Sydney and New York.
Shanghai Greenland Group is spending 8 billion yuan ($1.2 billion) on projects in Australia, according to the Australian Financial Review.
The Chinese government has introduced tougher home purchase rules in around 40 cities to keep house prices under control and also introduced a property tax in Shanghai and Chongqin.
There are also plans for a nationwide real estate tax.
According to a report in Malaysian newspaper The Star, quoting fund managers and analysts, a change in government could cause the Malaysian market to go into limbo for up to six months as the new government determines its investment policies.
The main concern among fund managers and analysts is whether the policies of the opposition – should it win the next general election – will be market friendly.
Government is held by the Barisan Nasional (BN), which won 140 seats in the 2008 election, its worst result since the 1969 elections and down from the 198 it won in 2004.
The opposition Pakatan Rakyat coalition won 82 seats, denying the BN a two-thirds majority required to pass amendments to the Federal Constitution.
There have been three prime ministers and leaders of the BN since the 2008 election victory.
The current prime minister (since 2009) is Datuk Seri Najib Tun Razak.
The ruling BN coalition’s tenure expires on April 28, 2013, and the prime minister must call for the general election within 60 days of this date.
For more on the allure of Australian property to Asian buyers, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment">download our free eBook. </a>The eBook is also available for<a target="_blank" href="http://propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook"> free download in Chinese.</a>
 
 
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News