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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A Pommie migrant, I first set foot on Aussie shores in Sydney in 1999, and the hot topics of the day were the invasion of East Timor and… housing affordability. A lot has changed in that time, for me especially as I’m currently living in East Timor. But Sydney’s housing affordability debate drags on in its predictable manner.
One unwelcome change for residents during that time is that property located close to the city, as well as being expensive to buy, is now also expensive to rent. The debate has worn so depressingly thin that it was a welcome change to see some levity breathed into it by SQM’s Louis Christopher last month.
<img alt="wargjan31" src="/images/stories/2013/02/wargjan31.jpg" width="393" height="300">
Of course, there is a serious underlying point here, and Christopher impressed by delivering some decisive but well-chosen words, quoted in this Property Update article <a href="https://propertyupdate.com.au/the-property-affordability-debate-is-back-again/" target="_blank">here.</a>
Sydney market sectors
Economists are forever guilty of taking a necessarily top-down approach to their studies and continually overlook the primacy of the individual. I’ve been guilty of the same thing as I’ve spent much of my time overseas over the past year or two.
The Sydney premium property sector will continue to march to its own drum, little affected by wages growth, rather by swings in confidence in the economy and the extent or otherwise of the share market recovery – buyers in this sector tend to have material levels of equity and investment assets.
The median-priced sector of the market continues to suffer from a shortage of quality, well-located dwellings. Every time I’ve let any of my properties around the eastern suburbs, the city or the inner-west in recent years they've been re-let instantly and sometimes even before being advertised. In such a tight market, it’s small wonder that rents have jumped upwards over the last half decade.
The sector of the market which is inevitably struggling is that of first home buyers. I wouldn’t want to generalise too much but statistics of late seem to imply that first home buyers are increasingly opting out of buying, or simply can’t afford to opt in.
London
Housing affordability issues in popular capital cities are nothing new. I remember when I went to train as a Chartered Accountant in London’s West End on the princely trainee salary of £18,000pa. I rented a flat for £400pcm located precisely 96.4km from the office, condemning me to 3 hours+ a day of travel.
Worse, even after the government swiped its share of my salary, I had to hand over £3,600 of my net pay to Great Eastern Rail and the London Underground just to get me to work! If you’re familiar with the tube I don’t need to tell you about the 'pleasures' of the Central Line from the City to Bond Street in rush hour.
On the day I qualified as a CA, my salary doubled to £35,000 and of course I’d dearly have loved to buy myself a 1 bedroom flat in Marylebone W1 so I could walk to the office.
I might just as well have wished to go for tea with the Queen at Buckingham Palace (actually that’s a terrible example, as I did end up doing that – rather, I might just as well have wished to fly myself to the Milky Way or Planet Zog). Clearly it was never going to happen so when I could afford to do so, I invested my money elsewhere.
 
<hr class="system-pagebreak">
 
The role of immigration
Last month, Britain’s Daily Telegraph ran <a href="https://www.telegraph.co.uk/news/uknews/immigration/9831912/I-feel-like-a-stranger-where-I-live" target="_blank">an article</a> which stated that London has become a city only for immigrants and the very wealthy.
Through a case study, the article noted that whites are being forced out of the city due to the 1 million muslims and many other races having “taken over” the traditional working class suburbs. Although the ‘locals’ have tried to mix with immigrants, the immigrants’ refusal to change their culture (particularly when wearing the niq?b or burqa) has led to racial tensions, the article reports.
Is Sydney heading down a similar route (assuming the article is accurate and in some way reflective of wider trends, that is)? One hopes not, although some of the internet forum comments have been worrying of late.
What I do think is likely is that the Census-reported home ownership rates in Sydney of 67% will fall closer to the significantly lower ownership rates seen in other developed cities such as London and New York.
Embracing the outer suburbs
I’m no town planner and I don’t pretend to have all of the answers to these things, but it's obvious that the city needs more affordable supply and equally obvious that middle-income Sydneysiders are not keen to embrace the western suburbs, which exacerbates the affordability issue.
This is exactly what was alluded to in the tweet to Louis Christopher where he was asked if he would live in Fairfield thereby risking “getting shot”. If we continue to think of the western suburbs in that way, well, yes, the affordability level of Sydney’s inner-suburb housing market is doomed.
The dangers and hardship of living ‘out west’ in Sydney are wildly overstated. Currently I’m living smack in the middle of the Comoro community, one of East Timor’s notorious distrito, and I walk to Timor Plaza through the shacks every day. Sure I could live on a hotel-style resort next to the US Embassy, but I moved to Timor to experience East Timorese culture not to mix with the US paramilitary, decent blokes though they are.
In the past year, we’ve had civil unrest and uprisings, some brutal knife attacks by the beach and slashings, terrifying off-shore earthquakes and, occasionally, people do indeed get shot. Even Nobel Peace Prize winner Prime Minister Ramos Horta was shot in the stomach. But I’m not going to add much by simply avoiding living in the local community, so I live in the heart of the community and take care late at night.
First homebuyers
I’m not unsympathetic to the plight of first home buyers. In fact, I still rent myself and I’m in my mid-30s. I’ll probably buy a residence in the next year or two, but I'm unlikely to be buying in Sydney.
People ask me about shortcuts to home ownership. There aren’t any - unless you are gifted a deposit. There are so many two-income households these days that prices have been forced northwards by other self-interested homebuyers. Capitalism is characterised by individualism and self-interest; we've known that for centuries now.
If you earn the median Sydney household income of $75,000 then to save a deposit you need to find a way to save $13,000 of it per annum to have a chance of save a 10% deposit over 3 years (by no means an easy feat the way rents have been going). That means no holidays to Hawaii. No plasma screen TVs. No Foxtel. No i-Tunes or i-Phone apps. It’s not easy, but since when has life ever been easy?
Even if the much-vaunted house price crash eventuates and Sydney’s prices drop by 20%, 30% or 40%, first homebuyer problems and the housing affordability debate will never – and I do mean never – go away. If a correction does happen, banks won’t be dishing out 100% mortgages: that’s one certainty you can bank on.
Australia versus the world
In East Timor, we’ve experienced a nasty bout of inflation which has pushed prices up sharply, although around half of the population of 1.2 million continues to earn US $1 per day.
I’m certainly no Michael Palin but was lucky enough to travel to 25 countries last year, including Egypt (revolution, violence, massive civil unrest), India (countless millions slum-dwelling), Portugal and Greece (25% unemployment), China (incredible poverty, no freedom of speech under Communist regime), Sri Lanka (human rights abuses, Tamils, too many guns), Vietnam (wide-scale post-Communist impoverishment), Malaysia (seemed quite nice), Thailand (although still mainly agricultural, recovering reasonably well from the Asian crisis and the collapse of its currency - despite illegal immigration issues) and Hong Kong ($1 million+ for an apartment in the sky), among others.
Australia has an amazing quality of life with capital cities that are expensive. I’ve seen a lot of the alternatives, and without exception, they've all been worse. I’ll leave the final word today to none other than <a href="https://www.news.com.au/money/david-and-libby-koch/yes-australia-is-the-best/story-fn7kicty-1226557982973" target="_blank">Mr. David Koch and wife Libby</a>:
"We’re sick of the whingers. This is the best country in which to live, work and play. Financially and economically, we are the envy of the world. Think about it; no economic recession for 21 years, avoided Asian financial crisis in the '90s, avoided global financial crisis in 2008-12, low unemployment, low inflation, solid economic growth and strong financial system."
Pete Wargent holds a range of finance and property qualifications and is the author of <a href="https://petewargent.blogspot.com.au/" target="_blank">Get a Financial Grip – a simple plan for financial freedom.</a>
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Aussie housing is expensive. It's worth it: Pete Wargent

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Sometimes the advice given to property investors by apparently credible sources is breathtakingly bad.
Here’s the best example for 2013 so far. An article on domain.com.au purported to provide “five top tips” to people looking to buy an investment property.
The headline was the first clue that this was a feast of furphies: “Supply and demand says inner beats outer.”
Already we’re in myth territory, even before the article’s intro.
But read on and here’s “top tip” number one: “Properties close to the CBD are in shorter supply than those in the middle and outer ring locations, so they’ll always be in demand.” There are so many ways to punch holes in that dreadful sentence it’s hard to know where to start.
But the greatest irony is that this particular tip comes from a property professional based in near-city Melbourne. Inner-city Melbourne is Australia’s most oversupplied market, even putting the Gold Coast in the shade.
Vacancy rates are in double digits and projects containing tens of thousands more apartments are being marketed. Developers are up in China trying to find buyers. How this tallies with the claim of short supply and constant demand is not explained in the article.
The idea that there is constant strong demand for properties close to a CBD, and therefore superior growth, is one of real estate’s greatest lies. Near-city residential markets are notoriously volatile, subject to economic fortunes, the exchange rate and the stock exchange roller coaster. The price graph for a “prime” suburb is never smooth. There are as many deep troughs as there are peaks. Toorak provides a fine example.
The demand is not constant and it is seldom large, because while many people may aspire to reside in Toorak or Point Piper, most punters cannot afford to so that aspiration does not translate into market demand.
Affordable outer suburbs have much smoother graphs and less topsy-turvy markets. That is because that’s where the great mass of housing demand goes. People buy where they can afford.
This is why the top 10 list for long-term capital growth in the Brisbane metropolitan area is dominated by suburbs in Ipswich City, on the south-western extremity where homes are affordable. It’s also why the list for Sydney is topped by affordable outer suburbs and the worst performers are mostly “prime” suburbs with median prices above $1 million.
We get the same result every time we research Australia’s major cities. The top 10 list highlights the affordable areas and the bottom 10 list features mostly millionaire suburbs.
So when “top tip” number one says that someone with $700,000 is better off buying one good-quality property in an inner suburb than two $350,000 properties elsewhere, they’re floating in a parallel universe. As I have demonstrated with research data in many articles and seminar presentations, the investor who ten years ago bought three properties in cheaper suburbs and/or regional centres would be infinitely better off than another who bought one property in an expensive inner-city enclave populated by people with more money than investment sense.
In one example, I focused on a buyer who paid $6.8 million in Wolseley Road, Point Piper, in 2002 and sold for $8.16 million in 2010 – a paper profit of $1.38 million representing growth of just 2.3% per year (fairly typical for that location). If they’d invested that money in 2002 in the top-performing suburbs of Brisbane (buying multiple properties), they would have made a profit of over $12 million, because of the vastly superior capital growth rates.
The domain piece goes on to advise buying property with unique features and looking for homes in “streetscapes that offer a sense of architectural consistency” – and really it’s just theoretical waffle from Melbourne professionals who benefit if investors buy the sort of homes they advocate. It’s all motherhood statements, unsupported by research.
This article demonstrates brilliantly the difference between an attitude and an argument. Any fool can have an attitude, but an argument is an attitude supported by facts and figures.
In my 30 years researching real estate I have seen many people expressing the attitude that “quality” properties in “prime” suburbs make the best investment, but I have not seen anyone back it up with research data.
The reason? The data contradicts them.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
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The idea of constant strong demand for inner-city property is a myth: Terry Ryder 

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The film producer turned passionate property developer Rebel Penfold-Russell has listed six prestige apartments in her North Bondi development, Coast.
The six near-beachfront apartments each come with $5.5 million plus asking prices - and there's a video uploaded to <a href="https://www.youtube.com/watch?v=ALUQkmvYjdE" target="_blank">youtube</a> on the construction of the Ramsgate Avenue project with music by her son, Emrys Quin.
Coast, on the Ben Buckler North Bondi headland, has been recently completed, the first new apartment project in 40 years on the iconic Ben Buckler Bondi Headland.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28one.jpg" alt="bondifeb28one" width="470" height="257">
It comes with three-bedroom-plus apartments over four levels to a SJB Architects design. One Bondi Beach regular who witnessed the construction stage from "pull? down slum block to giant hole in the ground to the building phoenix rising" says it is a wonderful building that "salutes Bondi's vision."
''Bondi's buildings all used to be salt-encrusted, rundown old buildings with broken wiring and concrete cancer, with very few good restaurants around,'' Penfold-Russell told Fairfax Media.
''But it's smartening up, not in a pompous exclusive way, but it now has a lot more good property, great retail and fabulous restaurants.
''Bondi is so vibrant and vital, it's exuberant with a youthful feel, it's magnificent.
''There's everything you want to eat there as well as drink, and there's great retail in lovely little enclaves," she said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28two.jpg" alt="bondifeb28two" width="470" height="255">
The block cost $6.05 million in 2007 inaddition to the initial holding that cost $3.85 million in 2004.
Davis Langdon prepared a 2010 cost estimate which concluded at a total capital investment value of $10,502,989 summarised as follows:
Demolition &amp; Hazardous Materials removal $137,687
Site Preparation (incl Bulk Excavation) $73,510
Site Services $80,000
New Construction $6,097,582
External Works $189,223
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28four.jpg" alt="bondifeb28four" width="470" height="256">
Roadworks Excluded
Design Contingency $391,391
Preliminaries &amp; Supervision $1,249,820
Sub-total – Construction Works $8,219,213
Statutory Fees Excluded
Design &amp; Management Fees $650,000
Development Management Fees $150,000
Construction Contingency $391,391
Escalation (to completion – say end 2013) $792,385
Selling &amp; Marketing Costs $300,000
Finance Costs Excluded
Sub-total – Applicable Development Costs $2,283,776
TOTAL ESTIMATED CIV $10,502,989
Its been a <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/rent/apartment-north-bondi-nsw-2026/16625" target="_blank">rental investment in recent years </a>through McGrath who will also be its upcoming sales marketing agents.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/bondifeb28five.jpg" alt="bondifeb28five" width="470" height="256">
The project included the now demolished 160 Ramsgate Avenue, a two storey building containing eight units, with no on-site parking provisions, and on the northern side, 158 Ramsgate Avenue where there was a two and three storey building containing five units and parking for three cars.
The filmmaker, who lived in Double Bay as a teenager, then Potts Point has made her permanent family home at North Bondi since the late 1980s. She'd bought an apartment at Bondi Beach while studying at NIDA in the 1970s for about $52,000.
Property Observer was there at the 1988 auction when the interior decorator Ann Gyngell and advertising executive Jamie Packer, as he was then known, accepted a $1.51 million offer at the W.J.Bridges auction of their Ramsgate Avenue, Bondi Beach, spec investment property which is now a contemporary abode.
The vendors were family friends - her husband Bruce Gyngell and his father, media tycoon Kerry Packer kicked off television in Australia - who had bought it for$1.15 million less than a year prior to the August 1988 auction.
Theo Onisforou and Richard Eskell dropped out of the auction bidding, and the battle emerged between the Double Bay newsagent Allan Stevens and Penfold-Russell, who was represented by Goodhope Realty's John McGrath.
As the price moved to 1988 boom levels, Jamie celebrated with a few chocolate biscuits laid on by the estate agency.
Penfold-Russell triumphed on the day, and has been a passionate advocate for Bondi ever since.
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Film producer turned developer Rebel Penfold-Russell selling six North Bondi apartments for $5.5 million-plus each

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The home builder AVJennings has posted a $19.1 million loss for the first half of the 2013 financial year compared to a $3.3 million profit a year ago. But it has advised that consumer confidence remains the key issue and until there was a positive change, market conditions will continue to remain challenging.
The value of its residential projects has had a 5.3% cut, slashing $16 million from its result. 
Total lots under control sits at 10,581 for the group whose history stems back to 1932 when "proud old builder" Albert Jennings founded Australia's most famous house building company which is now publicly listed.
Almost 80% of the impairments related to its troubled Queensland projects.
"The Queensland market has still not recovered to the extent previously expected by either the company, its competitors or most industry forecasters,"  the chief executive Peter Summers said.
"Until relatively recently Queensland prices, particularly in the lower and middle segments, were high by historical levels compared to Sydney and Melbourne.
"This is no longer the case and the Queensland markets in which the company operates are now priced at, or even below, historical levels and overall fundamentals are quite strong.
"Unfortunately, Queensland has suffered in recent times from many issues such as the effects of floods, lower population growth, the impact on tourism from the high Australian dollar and recent softening in the
mining sector. This has impacted on consumer confidence, probably to an even greater extent than many other areas in Australia," he said.
But the main reduction in revenue occurred in Victoria.
"The Victorian market was overheated during 2010/11 and conditions have since softened considerably.
"Revenues declined by $31.8 million for the reporting period from December 2011 figures, however, margins on Victorian projects remain acceptable and sales performance over the December 2012 and January 2013 period improved and indicate that market conditions in Victoria appear to have stabilised."
The company cut the value of a Victorian project, noting that the downturn in that state had "required a more aggressive pricing structure" on the project.
It also cut the value of its Cobbitty, NSW project where bureaucratic red tape had been costly, according to the market update.  AVJennings owns 43 hectares of residential-zoned land at Cobbity, in Sydney's south-west, where it hoped 470 lots could be developed.
Mr Summers said the development status of AVJennings’ two main projects in South Australia should see improved performance in the short term. The St Clair project is now entering a significant stage of maturity and sales activity is increasing accordingly. <a href="https://eyrepenfield.com.au/lifestyle/eyre-park" target="_blank">The Eyre (Penfield) project </a>is just underway with the first stage including a substantial display village comprising 8 contract builders and 20 display homes.
Revenue fell from $92.2 million in the prior corresponding period to $52.9 million, which the company attributed to "reduced completed inventory and softer Victorian market conditions".
"Residential property market conditions during the reporting period were adversely affected by weak consumer confidence which has subsisted for some time now," Peter Summers said.
"There are signs that some markets are starting to improve although this is taking time to translate into transactions."
"Consumer confidence remains the key issue and until there is a positive change, market conditions will continue to remain challenging."
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AVJennings awaits the return of confidence to house and land buyers

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Leighton Properties announced that it had formally signed Leighton Contractors to almost 13,000 square metres of its 567 Collins St building in Melbourne.
It was announced today as the Lord Mayor of Melbourne, Robert Doyle, turned the first sod on the development in the location in the western end of the CBD on the edge of Docklands.
Hamish Tyrwhitt, the Leighton Holdings chief and Mark Gray the Leighton Properties managing director and Peter Hicks, the Leighton Contractors chief financial officer presided over the formal groundbreaking ceremony. Presumably a few lawyers were there too since the other anchor tenants are Corrs Chambers Westgarth.
On its mid-2015 completion, the 567 Collins Street tower with 55,000 square metre space will be the largest PCA premium grade tower constructed in Melbourne in the last  25 years.
<img height="586" width="470" src="/images/stories/2013/02/leightonfeb27one.jpg" alt="leightonfeb27one">
Its will occupy a site of 3,942 square metres with a 74 metre frontage to Collins Street between Spencer and King Streets.
The 26 level tower is about 50% leased following the announcement of a major new lease to Leighton Contractors.
Leighton Contractors will establish its Victorian head office across 12,700 sqm of the campus component of the building.
Leighton bought into the site in 2008, but it remained one of Collins Street's ugliest development sites for another five years.
The site - a former car park - had struggled to attract a tenant initially under the ownership of the Stamoulis family, which bought it from the government for $8.5 million in 2003.
At one point around 2008, its then owner developer, APN Funds Management was close to securing law firm Allens Arthur Robinson (AAR) as a major tenant.
Its had a permit for a high-rise building issued since 1988.
 
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Leighton celebrates 567 Collins Street groundbreaking

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The Westfield Group has increased its earnings despite retail conditions in Australia being subdued for most of the year.
Earnings before interest and tax was $2.12 billion, up 3%, while net profit rose 18% to $1.72 billion.
Westfield’s global portfolio comprises 105 shopping centres across five countries with some 22,800 retail outlets.
“The performance for the year has been very good and in line with expectations,” its management team headed by Peter and Steven Lowy advised today.
They said the operating performance had been marked by continuing high occupancy, growth in average rents and comparable specialty sales growth.
Specialty sales grew strongly in the United States, being up 6.3% for the year.
But in Australia the specialty sales grew only 0.5%.
Some 99.5% of its Australian/New Zealand space is leased. 
There is an average $1,521 per square metre speciality store rent in the region. 
Sales productivity of specialty stores sits as at $9,887 per square metre. 
In Australia and New Zealand approximately 84% of total annual rental income is derived from specialty stores. Standard specialty shop lease terms are typically five to seven years with current annual contracted increases of either consumer price index (CPI) plus a fixed percentage, or fixed percentage increases.
Anchor retailers generally have lease terms of 20 to 25 years with stepped increases throughout the term which can be fixed, CPI based or sales turnover based.
“We have confidence in the group’s business model and opportunities for growth," the Lowy statement said.
“We are focused on remaining at the forefront of our industry as we continue to improve the quality of our portfolio through our $12 billion development pipeline together with acquisition opportunities in existing and new markets.
“We also plan to continue redeploying capital from further joint ventures and non-core asset disposals.”
Stakes in $4.1 billion of shopping malls were offloaded during the year. There was around $300 million of property acquired and some $800 million invested in developments.
Net property income was $2.02 billion, which is the same as last year but up 7 per cent on a comparable basis after adjusting for properties that have been sold.
Comparable net operating income for the group was up 3.3%.
Management fee income rose 12% to $128 million and project income jumped 31% to $194 million.
 The two income streams represent around 22% of funds from operations, up from 17.5% in the previous financial year.
The Westfield Retail Trust has posted a full-year profit of $830.8 million, down 2.2% given the retail environment.
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Westfield increases earnings despite retail conditions in Australia being subdued

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Bulky goods entrepreneur Brett Blundy has offloaded his redundant Pearl Beach weekender for $2,643,000, a 30% decline on its last sale price. It was the NSW Central Coast beachfront home's second price collapse.
It was snapped up by a company associated with Sydney accountant Stuart Waugh, from Bell Partners, when offered through <a target="_blank" href="https://www.propertyobserver.com.au/https://www.thehomepage.com.au/property/residential/36-coral-cres-pearl-beach/173087">Stuart Gan of PRDnationwide Ettalong Beach</a>.
It had last traded for $3.8 million in late 2007 and at $4.035 million in 2004.
Its latest sale represents a 34% drop from its 2004 peak sale price.
The Coral Crescent beachfront property became superfluous after the Blundy clan bought a Hamptons-style beachfront house a few doors along the beach for $5.8 million in late 2009.
It was available at the weekly peak season rate of <a target="_blank" href="https://www.pearlbeachrealestate.com.au/holiday-rentals/more-photos.asp?ID=5&amp;Pr=1&amp;Pg=1">$4250 or off season rate of $2775 a week</a>, but while on the web, it appears no longer in the Coral Crescent, Pearl Beach <a target="_blank" href="https://www.pearlbeachrealestate.com.au/holiday-rentals/?Pr=9">rental pool </a>which consists within some 110-plus house rentals through Ray White.
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Brett Blundy takes loss as accountant snaps up Pearl Beach weekender

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Brookfield Multiplex has been appointed by NSW Health Infrastructure to build the new clinical services building at the Royal North Shore Hospital (RNSH), delivering an additional 30,000 square metres of health services to the campus which is one of the state’s major trauma centres.
The appointment follows the completion of other health projects in New South Wales by Brookfield Multiplex including the Campbelltown and Auburn Hospitals redevelopments.
Brookfield Multiplex is also contracted to deliver the new Chris O’Brien Lifehouse at RPA in Sydney, due for completion mid this year.
"This appointment builds on our reputation for delivering vital health projects in New South Wales and around the world," said David Ghannoum, the regional managing director of New South Wales at Brookfield Multiplex.
"At its peak construction the project will create 2,200 jobs," he added. 
Construction on the Building Studio Architects and Woods Bagot-designed project will commence in early April 2013 and expected to be fully operational in late 2014.
Bound by Westbourne Street, Herbert Street, Red Road and Kolling Lane in St Leonards, the nine-level building will connect with the hospital’s existing infrastructure and services.
The new building will provide a variety of services including a private mental health unit on level two, a women’s health and maternity unit across levels three and four, a general inpatient unit on level five, and a severe burns unit on level six. A pediatric inpatient unit will make up level seven.
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Multiplex secures Royal North Shore Hospital building project

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Generation Healthcare REIT, Australia’s only listed healthcare property entity, will build a $150 million, staged development healthcare project on its newly-acquired development site in Berwick in Victoria.
The 1.2 hectare holding has existing approval for a medical centre, radiotherapy/day surgery and medical consulting building, along with a 200 bed private hospital.
Its located opposite Casey Public Hospital.
The $2.4 million purchase will be funded by its debt facility with the National Australia Bank.
The development site at 55 Kangan Drive, Berwick is set within Victoria’s largest and fastest growing municipality.
GHC’s chief executive officer, Miles Wentworth said plans were well advanced for the commencement of stage one; a $10 million, 2,500 square metre medical specialist centre, although tenant pre-commitment will be a condition to proceeding.
Generation Healthcare REIT has a portfolio of seven properties including hospitals, medical centres, laboratories and other purpose built healthcare facilities.
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Generation Healthcare REIT spends $2.4 million on Berwick site

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Markets have fairly well priced out the chances of interest rates being cut to record lows in March.
As at the close yesterday the ASX 30-Day Interbank Cash Rate Futures March contract was trading at 97.050. This indicates only a 24% expectation of a rate decrease to 2.75% at the next RBA board meeting.
<img alt="wargentfeb27" height="228" width="470" src="/images/stories/2013/02/wargentfeb27.gif">
Source: <a target="_blank" href="https://www.asx.com.au">www.asx.com.au</a>
Is that decision cut and dried? It's probably a bit early to say so.
Guy Debelle of the RBA gave <a href="https://www.rba.gov.au/speeches/2013/sp-ag-260213" target="_blank">an interesting speech</a> in Adelaide this week on the RBA's function in the financial markets.
It seems that the Reserve  Bank will not intervene on currency and again it was re-iterated that rates may yet be cut further as and when required:
<div>"To date in Australia, we have been able to counter the effects of the higher Australian dollar with lower interest rates, as my colleague Phil Lowe described recently.</div>
<div></div>
<div>"We still obviously retain scope to lower interest rates further, should the need arise, including to counterbalance the pressures of an elevated exchange rate."</div>
It's going to be a rough old day on the stock markets (down ~1.2% so far) due to fears among investors that the gridlock in the Italian election could eventually impact Italy's ability to pay down its debt.
Key data will be released by the Australian Bureau of Statistics on Thursday in the form of the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5625.0" target="_blank">capital expenditure and expected expenditure.</a>
Perhaps the most important chart will be the second of the three below, which shows total mining expenditure and expected expenditure.
If it appears that the mining capital expenditure boom is about to peak, another interest rate cut may yet not be far away. The RBA needs the rest of the economy to step up and plug the gap, and to date there does not seem to be much evidence of it so doing.
<img alt="wargentfeb272" height="766" width="470" src="/images/stories/2013/02/wargentfeb272.gif">
Source: ABS
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/">Get a Financial Grip – a simple plan for financial fr</a><a target="_blank" href="https://petewargent.blogspot.com.au/">eedom.</a>
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