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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It is expected that there will be over 1,900 capital city auctions held over the coming week, according to RP Data.
The combined capital city auction clearance rate was recorded at 58.9% last week, up from 55.4% the previous week.
Over the same week in 2012, the auction clearance rate was considerably lower at 47.9%.
Last week, auction volumes increased substantially from 667 the week prior, to 1,116.
Last week, in Melbourne, Australia’s largest auction market, there were 541 auctions.
The clearance rate remained almost unchanged, up slightly from 65.7% the previous week to 66% last week.
Sydney’s auction clearance rate increased from 55% the week prior to 63.2% last week when 323 auctions were held in the city.
In comparison, at the same time last year, Sydney’s auction clearance rate was recorded more than 15 percentage points lower at 47.4% when there were 435 auctions held over the week.
Click to enlarge
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po-LsXgBTHBmX

Auction clearances increase as big weekend looms: RP Data

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The Commonwealth Bank, NAB and ANZ have joined Westpac by offering a two-year fixed-rate home loan at 4.99%.
Unlike Westpac, the sub-5% offerings were not announced in press releases.
The Commonwealth Bank offers its two-year fixed rate of 4.99% under its wealth package offering with a comparison rate of 6.09%. For non-package Westpac customers, the two-year fixed rate is 5.14% (comparison rate of 6.29%).
NAB offers a two-year fixed home loan under its choice package offering at 4.99% with a comparison rate of  6.00%. For non-package NAB customers, the two-year fixed rate is 5.09% (comparison rate of 6.21%).
ANZ revealed its two-year fixed rate home loan of 4.99% in an update to mortgage brokers on February 13. The rate is available under its Breakfree package offering, which includes a 0.15% discount. A comparison rate on this loan is not provided.
Two-year fixed rates and three-year fixed rate home loans are the fixed-rate terms preferred by most fixed-rate borrowers.
Westpac cut its two-year <a target="_blank" href="https://www.propertyobserver.com.au/news/westpac-lead-the-big-banks-below-5-on-nfixed-home-loans/2013020659208">fixed rate to 4.99% on February 7</a>, joining a number of non-bank lenders who offer fixed-rates below 5%. The Westpac comparison rate is 6.27%
The lowest two-year fixed rate is 4.79% offered by online lender iMortgage under its fixed pro pack home loan with a comparison rate of 5.43%. iMortgage is the online lending arm of ASX-listed non-bank lender Homeloans Ltd.
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lschlesinger-FZcF9M3vE6

Commonwealth Bank, NAB and ANZ match Westpac with 4.99% fixed rate package offerings

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Shopping centre owner and manager Federation Centres has reported an interim net profit $115.91 million for the six months to December 31 - its first complete first-half results under its new brand following the restructuring of the debt-laden Centro business.
The profit compared with a loss of $100 million recorded in the previous corresponding period, when it was known as Centro Retail Australia.
Federation Centres also reported a healthy balance sheet with its gearing down to 29.9% after entering into a number of joint-ownership agreements.
Last week, in its first significant deal under its new name, Federation Centres agreed to sell half-shares in four malls and a convenience centre to the Industry Superannuation Property Trust (ISPT), one of Australia’s biggest unlisted property trusts for $371.4 million.
This follows Federation Centres selling 50% interests in three shopping centres - Galleria (WA), The Glen (Victoria) and Colonnades (SA) - to the Perron Group for $690 million in June last year.
Federation Centres expects its gearing to fall to 24.2% once it completes the ISPT transaction.
The results show the group manages 78 properties in its portfolio.
It owns 40 malls outright, 34 are parts of syndicates and seven are joint-ventures.
The portfolio is valued at $6.6 billion and has an occupancy rate of 99.5%.
It is well spread across Australian metro regions with the highest presence in NSW (34%), Victoria/Tasmania (25%) and WA (22%).
Federation Centres reported 2% growth in retail sales.
It has a development pipeline over five years of $1.1 billion – with Federation Centres' share being around half of this at $591 million.
Federation Centres also continues to simplify its previously complex mix of unlisted shopping centre syndicates with $548m of assets acquired by the group and $438m sold on market.
The company expects $1.2bn of assets expected to be transacted by 2015 with $500m to be sold on market and $700m potentially acquired by the group, subject to further capital recycling initiatives
Chief executive Steven Sewell said the company had “entering a new era” where it can utilise its sound financial position and work with its strategic alliances to enhance its portfolio of Australian shopping centres, “with the clear objective of providing sustainable returns for investors”.
“The portfolio continues to benefit from a strong exposure to non-discretionary spending. All retail categories showed growth, although department store sales remained subdued.
“Supermarkets and specialty retailers, which make up approximately 75% of Federation Centres’ total annual sales, achieved annual sales growth of 1.7%," he said.
"The mini major category, with 8% of sales, increased turnover by 8%. Department store sales, which represented 3% of turnover, improved by 0.1%.
“Full-year earnings are now forecast, subject to any unforeseen events, to be in the range of 15.5 to 15.75 cents per security with distributions paid to investors representing a payout ratio of between 80% and 90%"
 
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Federation Centres emerges from Centro with stronger balance sheet and back in the black

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There was a noticeable drop in the number of houses and units available to rent in January, but this is mainly attributable to seasonal factors, says SQM Research director Louis Christopher. 
The national vacancy rate tightened by 0.4 percentage points from 2.3% to 1.9% over January with just over 54,000 properties available for rent across the eight capital city markets compared with 63,000 in December. 
All capital cities recorded tightening rental markets led by Melbourne where the vacancy rate tightened from 3.6% in December to 3% in January with 2,600 fewer rental properties available for lease. 
Perth remains the tightest capital city rental market with its vacancy rate tightening from 0.9% to 0.8% - a distressing sign for Perth renters. 
Other capital city vacancy rates are: Adelaide (1.4%), Brisbane (1.9%), Canberra (1.5%), Sydney (1.6%), Darwin (1.4%) and Hobart (1.9%). 
SQM Research points out that the January decline in vacancies is similar to that of the month’s preceding the Christmas period, “strengthening the assumption that December’s elevated figures were due predominantly to seasonality”.  
Year on year, SQM Research has record a modest national increase of 0.1% with many of the capital cities’ vacancy rates remaining relatively the same. 
Canberra and Darwin however, have recorded the most dramatic yearly differences with Canberra increasing by 0.8% in vacancies and Darwin by 0.4%. 
“Thus as it currently stands, the rental market although loosening somewhat since the corresponding period of the previous year (January 2012) remains for the most part - tight, with the majority of capital cities excluding Melbourne, continuing to record vacancy rates of under 3%,” says Christopher. 
“Having said this, SQM Research believes with a housing recovery commencing in many parts of the country, the rental crisis that many localities have been experiencing over the past 12 months, may slowly begin to be alleviated, with potential first home buyers who have been sitting tight, now beginning exit the rental market to purchase their own homes. 
“Taking into account seasonality, vacancy rates have proven to be very steady over the past two years now for the major capital cities. We note that in Hobart, there appears to be a tightening in vacancies once again, which may help existing real estate investors in what has been a severe downturn for that city.
“When considering more micro localities, there are some clear pockets of oversupply and under supply such as Melbourne’s Southbank, which is recording a very high vacancy rate of 10.9% right now.  This goes to show it is important to consider the local factors as well as the greater macro tides.”
Vacancy rates for individual postcodes are available on the SQM Research.
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
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Rental market tightens in January to national vacancy rate of 1.9% mainly due to seasonality: SQM

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Reserve Bank board members noted a number of improvements in the housing market on the back of previous rate cuts when it decided to leave the cash rate on hold at 3% in February, according to the minutes of the February 5 monetary policy meeting released today.
The minutes suggest the RBA has adopted a wait-and-see approach on the impact 175 basis points cut from the cash rate since November 2011 will have on an already firming housing market and other non-mining sectors of the economy.
“While conditions remained soft in the construction industry, there were some signs that the housing market had firmed, partly due to the series of interest rate reductions over 2012," read the minutes.
“Notwithstanding month-to-month volatility, building approvals had increased since the middle of 2012, particularly in states other than Victoria, and prices and rental yields in the established housing market had also picked up."
In the December minutes – when the RBA cut the cash rate by 25 basis points to 3% - the RBA board that consumer sentiment had improved, “consistent with employment growth picking up to a moderate pace and better conditions in the housing market”.
The February 5 minutes note that following the December cash rate announcement, "most Australian lenders had reduced their standard variable housing rates by around 20 basis points.
"This reduction had brought the average interest rate on outstanding housing loans to well below its longer-run average and only a little above its 2009 low. Rates on small and large business loans were also close to their 2009 lows," read the minutes.
At the February meeting, RBA board members were also briefed on the GDP outlook, which is forecast to be a bit below trend at 2.5% over 2013, but also that "improving conditions in the housing market were expected to continue to provide support to dwelling investment, while non-mining business investment was expected to pick up gradually over time".
Apart from the weaker GDP outlook, the RBA board said housing finance remained relatively subdued, and indicators suggested that non-mining business investment would continue to be weak in the near term the negative side.
However, the minutes end with the RBA hinting at a wait-and-see approach noting that "interest rate sensitive parts of the economy had shown some signs of responding to these lower rates, which were well below their longer-run averages, and further effects could be expected over time".
"Noting that monetary policy was already accommodative as a result of the substantial easing of policy over the past 15 months, and that this stimulus was continuing to work its way through the economy, the Board judged that it was prudent to leave the cash rate unchanged at this meeting," concluded the RBA.
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Housing market has firmed following rate cuts: RBA February minutes

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Mixed-use development sites accounted for the highest number of properties listed for distressed sale in 2012 with the rising trend of distressed sales set to continue in 2013 - led by Queensland.
Distressed property listings surged 36% in the second half of 2012 on the back of 5,207 companies going into external administration in the first half of the year, according to a new report by Colliers International. 
Around 816 distressed properties were advertised for sale across the country in 2012, up by 5% from the 777 properties on the market in 2011.  
The second half of 2012 is expected to yield a similar number of company collapses (the monthly average to November is 900 compared with 883 in 2011) meaning a similar high number of distressed properties will be listed for sale by administrators and banks in 2013.
According to the Colliers report author Felice Spark, there was sharp spike in the number of distressed properties coming to market in the November – 177 properties compared with a monthly average of 68 in 2012 – as banks increasingly brought distressed assets to a more active market. 
While Spark expects a spike in the amount of distressed real estate coming to market in 2013, she says a market correction has taken place “with prices now having dropped as low as they can go to support sales”. 
“It is unlikely that market conditions will worsen in 2013, but also unlikely that we will see much improvement over the next 12 to 24 months. 
“With little change expected, now is as good a time as any to go to market. Recent distressed sales activity has revealed market interest from prospective buyers and prices holding strong,” she says. 
Development sites overtook industrial property in 2012 in terms of number of distressed assets on the market across Australia, followed by the industrial, commercial, residential and rural and agribusiness sectors. 
<img height="286" width="470" src="/images/stories/2013/02/distressedpropertyFeb19chart.gif" alt="distressedpropertyFeb19chart">
“While 2011 saw the number of distressed assets on the market increase across all property sectors over 2010; it was more of a mixed bag in 2012,” says Spark. 
“Three sectors, in particular, saw a big spike in the number of distressed assets coming to market; being development sites, rural and agribusiness, and mixed-use developments. 
"Pubs/hotels, retail and healthcare and retirement all saw a minor increase in distressed property," she says.
An example of a recent successful distressed development site sales ws a 1,271 square metre property <a target="_blank" href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-lurnea-500341419">at 124 Hoxton Park Road, Lurnea in Liverpool</a> in Sydney’s outer west, which sold above the reserve for $1.405 million in August last year.
It had previously sold for $700,000 in 2000 and had been listed for sale for $1.6 million in August 2007. 
The property, which is zoned for high density residential, was put up for mortgagee-in-possession sale after the owner had trouble re-financing his loan. 
On a state-by-state basis, Queensland continued to have the lion’s share of distressed property sales, increasing slightly from 2011 levels and maintaining an almost 50% share of distressed properties nationwide.  
Queensland saw a marginal increase of 3.5%, going from 382 properties to 395 properties, whilst South Australia saw an increase of 20 properties to 32 properties. 
Victoria witnessed a substantial spike during 2012 of 56%, going from 61 properties to 95 properties.
Spark says the banks have now begun pushing through, forcing properties to be put to market, with a trend towards secondary or regional-based property.
Industrial led the way in Victoria in 2012 representing approximately 40% of appointments.
NSW saw a decline in the number of distressed properties on the market, falling back slightly from 256 properties to 242 properties.
Conversely, the industrial, commercial and residential sectors all witnessed declines in the number of distressed properties on the market in these sectors.
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Distressed property listings set to spike in 2013 led by defaulting development sites: Colliers International

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The Sydney and Melbourne CBDs have maintained their rankings among the top 10 most expensive markets to rent prime retail spaces as international retailers clamour to get access to Australia’s nation of shopaholics.
International retailers are looking to open around 300 shops in Melbourne, Sydney, Perth and Brisbane over the next few years, according to figures compiled by Colliers International in a new White Paper.
Top Shop, Zara, Gap and Apple are all looking to add to their store presences while the likes of Swedish fashion store H&amp;M and Japan’s Uniqlo are all planning to open a swathe of stores in capital city markets.
Uniqlo, is leading the charge, seeking 40,000 square metres of space across 25 stores followed by Zara, which is seeking 30,000 square metres of space with plans for 20 stores and Top Shop (and its men’s store Topman) seeking 27,000 square metres across 15 stores.
Apple and Canada’s Lululemon Athletica both expect to reach around 30 stores each.
Sydney ranks as the fifth most expensive prime retail market in the world, charging on average $10,700 per square metre with Melbourne ranking eighth with an average prime retail rent cost per square metre at just under $9,000, according to the latest global rents report from CBRE for the fourth quarter of 2012.
Hong Kong is the most expensive prime retail market in the world – an incredible $46,000 per square metre – followed by New York at $31,400 per square metre.
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="154">
Retailer
</td>
<td valign="top" width="154">
Space sought
</td>
<td valign="top" width="154">
Current number of stores
</td>
<td valign="top" width="154">
Planned future stores
</td>
</tr>
<tr>
<td valign="top" width="154">
Uniqlo
</td>
<td valign="top" width="154">
40,000 sqm
</td>
<td valign="top" width="154">
0
</td>
<td valign="top" width="154">
25
</td>
</tr>
<tr>
<td valign="top" width="154">
Zara
</td>
<td valign="top" width="154">
30,000 sqm
</td>
<td valign="top" width="154">
6
</td>
<td valign="top" width="154">
20
</td>
</tr>
<tr>
<td valign="top" width="154">
Topshop/Topman
</td>
<td valign="top" width="154">
27,000 sqm
</td>
<td valign="top" width="154">
2
</td>
<td valign="top" width="154">
15
</td>
</tr>
<tr>
<td valign="top" width="154">
H&amp;M
</td>
<td valign="top" width="154">
20,000 sqm
</td>
<td valign="top" width="154">
0
</td>
<td valign="top" width="154">
10
</td>
</tr>
<tr>
<td valign="top" width="154">
Williams-Sonoma
</td>
<td valign="top" width="154">
20,000 sqm
</td>
<td valign="top" width="154">
0
</td>
<td valign="top" width="154">
10
</td>
</tr>
<tr>
<td valign="top" width="154">
Apple
</td>
<td valign="top" width="154">
15,000 sqm
</td>
<td valign="top" width="154">
18
</td>
<td valign="top" width="154">
30
</td>
</tr>
<tr>
<td valign="top" width="154">
Gap
</td>
<td valign="top" width="154">
12,000 sqm
</td>
<td valign="top" width="154">
3
</td>
<td valign="top" width="154">
15
</td>
</tr>
<tr>
<td valign="top" width="154">
Abercrombie &amp; Fitch
</td>
<td valign="top" width="154">
10,000 sqm
</td>
<td valign="top" width="154">
0
</td>
<td valign="top" width="154">
10
</td>
</tr>
<tr>
<td valign="top" width="154">
Lululemon athletica
</td>
<td valign="top" width="154">
7,500 sqm
</td>
<td valign="top" width="154">
18
</td>
<td valign="top" width="154">
30
</td>
</tr>
<tr>
<td valign="top" width="154">
Hollister
</td>
<td valign="top" width="154">
7,000 sqm
</td>
<td valign="top" width="154">
0
</td>
<td valign="top" width="154">
10
</td>
</tr>
</tbody></table>
Source: Colliers International
CBRE notes that in Sydney, demand from international retailers (especially from the US) is high with “many new brands set to enter the market in 2013”.
Josh Loudoun, CBRE’s head of retail services in Australia and NZ, says Australia remains “an attractive destination for international retailers.
“New openings are performing well and fuelling demand for additional stores with international groups continuing to express interest in prime CBD locations,” he says.
Loudoun says he is seeing significant interest from international groups looking to capitalise on the proposed changes to George Street, but Melbourne remains the ‘go to’ destination mostly due to the availability of prime locations on Collins Street and Bourke Street Mall.
“Australia continues to rank highly on the world stage for rent levels, which is supported by the shortage of prime locations, and Australian retailers achieving some of the highest profit margins in the world,” he says.
“We forecast this will continue despite the pressure of on-line retailing as new market entrants will continue to fight for prime locations.”
Nora Farren, researcher and author of the Colliers White Paper, notes that of stores already opened in Australia, there appears to be an even split between high Street and shopping centre locations, with Sydney and Melbourne the preferred markets.
The average store size requirement is around 800 square metres, but ranges from just 150 square metres for boutique stores to 2,000 square metres for department stores.
The majority of international retailers entering Australia come from the fast fashion and general apparel sectors with the retailers identifying Australian consumers retailing appetite in the first instance from online sales, based on the value and volume of products being shipped to these stores.
US department stores Nordstrom, Saks Fifth Avenue, Macy’s and Bloomingdale’s all offer shipping to Australia, and openly consider the market as one of their biggest online customers
Farren says she does not expect to see many more large retailers in Australia, with most of the major chains already here, but expects that more specialist retailers will start coming in “certainly higher end fashion retailers, particularly the niche fashion retailers from Europe and US”.
“It remains to be seen if the Australian taste is sophisticated enough to embrace them,” says Farren.
The arrival of overseas brands is not good news for local retailers with less prime retail space available and many without the bargaining power to negotiate lower rents.
“The sophistication and bargaining power of these international retailers often means they pay less or will seek to pay less rent per square meter for the quality of space they occupy, and tend to commit to longer lease terms than local retailers.
“The criticism often levelled at centre owners by other tenants is that the rent of international retailers is being subsidised by other local retailers,” says Farren.
Dolce &amp; Gabbana recently signed a lease for 320?square metres of the Mayfair Building on Collins Street in Melbourne, owned by Charter Hall and Cbus Property while Chanel, Prada and Apple have recently opened their first Perth stores.
UK brand Miss Selfridge will open a pop-up store within the Glue Store at Westfield Bondi Junction, before moving into stand-alone stores.
In its recent results filing Challenger Diversified Property Group said the lease of the former Border’s site in its refurbished Jam Factory on Chappell Street in South Yarra to Top Shop had exceeded expectations. Challenger also signed <a target="_blank" href="https://www.propertyobserver.com.au/retail/challenger-secures-italian-pizza-tenant-konpizza-for-refurbished-jam-factory/2013021859321?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Italian pizza chain Konopizza</a> to lease its first shop in the mall.
The new Myer Emporium being built by in the Melbourne CBD by Grocon for Colonial First State’s Global Asset Management and due to open towards the end of the year is set to include a number of international retailers making their debuts in the Australian market.
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Zara, Topshop and Uniqlo lead retail property push into Australia

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Peter Temple ranks among Australia’s most gifted novelists. He writes compelling crime fiction, set usually in Melbourne against a background of corrupt politicians and a development industry that’s able to buy planning approvals. 
That’s fiction, of course, but my three decades in and around the Australian property industry has taught me that developers can wield undue influence over politicians at all levels of government.
This is a topical issue in Victoria at present, with the lord mayor of Melbourne accused in local media of having “hidden links” to developers and the state government displaying a trigger finger when it comes to over-ruling local authorities on planning decisions, always in favour of the developer. 
The Victorian government apparently believes that facilitating a high level of construction of mega unit developments is the key to revitalising the state’s stuttering economy. 
The concern for anyone who owns a Melbourne apartment, particularly in the inner-city areas, is that the city already has an oversupply of units, and it’s going to get worse before it gets better. 
I would urge anyone contemplating investment in the <a href="/news">Melbourne</a> CBD, <a href="/news">Docklands </a>or <a href="/news">Southbank </a>to research very carefully. 
According to SQM Research, the vacancy rate in the Docklands postcode is close to 9%. The CBD is a fraction over 9%, while Southbank has a vacancy rate of 11.5%. This is at a time when all capital cities other than Melbourne have vacancy rates below 2%, according to SQM Research. Melbourne overall sits at 3%, with its vacancy rate elevated by those inner-city areas. 
Recently CBUS Property launched marketing for a new CBD unit development, and developer ISPT has gained approval for a six-tower project comprising almost 3,000 apartments on the <a href="https://www.propertyobserver.com.au/victoria/six-high-rise-towers-to-replace-former-age-site-on-spencer-street/2013012959013" target="_blank">Spencer Street site formerly occupied by The Age newspaper. </a>
The state government has approved a 68-storey CBD building that will have 581 units. The north-western reaches of the CBD have attracted plans for multiple unit developments, including 452 apartments in what would be the CBD’s tallest apartment building. 
In the south-eastern suburbs just beyond the inner city, a state government panel has approved a 466-unit development in Armadale over strong opposition from the local council and residents. Around 2,000 apartments are proposed for a re-development of Moonee Valley racecourse, while many thousands more will emerge on the 240-hectare Fishermans Bend urban renewal area much touted by the state government. 
The industry’s standard argument, in response to oversupply concerns, is that projects will not be built unless there is demand. Developers can’t get finance unless they have pre-sold a major share of the planned apartments, therefore the market is insulated from surplus. 
The theory doesn’t hold up, however. If it was a valid argument, the Gold Coast would not have suffered from years of oversupply (which still lingers) and Melbourne would not have had the surplus that undercut the unit market around 2003-04. 
When genuine local demand is poor, developers can always manufacture sales by running road-shows in far-flung locations and selling apartments to distant investors who don’t know Melbourne conditions. 
That’s what’s happening right now in the Melbourne market. Representatives of development companies are roving Asia, running seminars and encouraging overseas investors to buy in “booming Melbourne”, or targeting high-income earners in mining towns or other locations well-removed from Melbourne. 
History suggests the outcome will be poor settlement rates when the projects are completed, higher vacancies and declining rentals, leading to falling property values.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
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terryryder-YECXbqmri2

Melbourne residential unit market oversupplied, and it's going to get worse: Terry Ryder

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Over the last few weeks I have looked at some of the new trends surrounding online marketing, but this week I would like to return to an old and very hard-working tool of project marketing: signage.
An important part of the marketing mix
The media mix available for any campaign is usually very diverse and has rapidly changed over the past few years. The powerhouse that is the online marketing has now joined the other varied forms of mass media, press, direct mail, radio, TV and signage.
But workhorses like signs and direct mail still have their place. There are many challenges that result from today’s diverse media mix. But the question still remains as to what media represents the best value, and signs are a part of the mix.
The ritual of open times
In almost any sales path I am always reminded about the daily ritual of putting up signs. The “now open” A-frame is never out of fashion, it’s like the courtesy of how we manage the meet and greet of every visitor to an open. This most basic step is, I think, a good starting point.
Signs
Signs, in particular on-site signs, have a big advantage over almost all other forms of marketing – they are directly connected and related to the site and the product. They are there working 24/7, and there is ample evidence to show that signs will always be required as an essential of project marketing.
There can be limitations, and in some areas these limits are because of planning regulations imposed by local planning requirements. But it can also be possible to use fence banners and with the wide application of smartphones signs can point interested people to a website. If at all possible that should be a mobile website.
Signs also have to be visible, and a sign in a busy CBD environment or in a crowded residential area where there is a lot of ‘visual noise’ can melt into the surrounding environment that is if they are not well designed with a clear and easy-to-understand message.
The design of a sign should reflect the brand values of the project but also take into account the environment. They might to some appear not to be of relevance to a high-end buyer, but I would not agree. Buyers for a CBD development tend to be drawn from many different areas, and a good site sign is likely to attract a buyer's initial attention by making it easy to find or identify a particular site.
In some circumstances the target consumer may not live in the immediate area, they may very well be traveling there in response to a press ad or an eDM, and so as soon as they see the signs it’s easy to get their attention for your project.
However despite some limitations signs are powerful and necessary and time needs to be invested to keep them current and related to the wider marketing message. Signs need to be clear easy to read in a few seconds, and they should work within the brand lock-up for the project – where the colours and logo might just be enough to make a connection with a buyer out searching for you.
Just how big and how many signs will relate to the needs of each project, but in some highly visible locations a big investment can be well justified and it is important to manage signs over the life of a project and so budget for a reasonable number of up-dates to cover material and creative content.
They also need to be kept up-to-date, like an out of date website, an out of date sign is a negative and must be avoided. If they are out of date it sends a downbeat message to the local community as well as potential buyers.
Plan signs as a dedicated activity
Signs are an importance of presentation and a key point for connecting buyers into the sales path.  A poor signage layout can make it harder for buyers to find you or to contact your team and there is no doubt this can loose a sale. The consumer’s expectations need to be fully taken on board, they do not know your project, where it is, even the area may be totally new and even with on-screen maps the role of the sign should not be neglected.
It is difficult to over-stress how vital the on-site signs can be and at times a major investment will be more than justified, it is all part of planning the buyers experience and should be an early part and an ongoing part of planning.
At the start of a new estate or apartment project there is a blank canvas, either an empty parcel of land, an area with buildings that are about to be demolished or some other form of disused amenity that has no baring what so ever with the new project and signs can help fill that gap.
But keep in mind that for any potential buyer the site is, at least for their first visit, a complete mystery and this again suggest that signs should be simple – they are not read as a press ad or a brochure so avoid clutter.
There is a need make sure key details like, telephone contacts, branding and website details stand out. This applies to all signs, banners, construction hoardings, a-frames and directional signs and the basics need to be ticked off for both the largest and smallest signs.
Electronic signs
Technology will soon deliver a new generations of signs, that are interactive, that can ‘talk and communicate’ with anyone engaged with the sign, in real time, not like a QR code, but much more. I have been looking some of the new ideas emerging. It’s a fascinating area that I will return to.
Signs will evolve, they already are, but we should not underestimate or neglect planning and design because their value even at the most basic level is critical.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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How to use signage in marketing a residential development

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Interesting <a target="_blank" href="https://www.macrobusiness.com.au/2013/02/the-history-of-australian-property-values/">article</a> from Philip Soos charting Australian residential property history. Such debates often become polarised between those who own property (“prices always trend up”) and those who don’t (“housing bust!”). Typically what follows is degeneration into cheap shots (cf. “landlords are parasites”, “Soos is a uni student”), but there’s plenty of that dirge on the internet already.  I’m a reasonably intelligent bloke and well aware that when the easing cycle reverses prices might fall, but I challenge whether the close to 70% who are property owners are necessarily the “greater fools” that they’re portrayed to be in Soos’ article and scores of appended comments.
Diversification
Before delving further, I’ll clarify that I’m not simply suggesting placing an enormous leveraged bet on Australian residential property at today’s prices. A holistic financial plan should involve an element of averaging as the average investor is notoriously poor at market timing.  In my book I also discussed the importance of diversification and noted that a sensible portfolio should include a range of asset classes e.g. Australian property, UK property (close to London), an averaging strategy into UK index funds, holdings in Australian equities and cash. Diversification into non-correlated asset classes such as precious metals and art, may also be preferable.
Graphs from 1861…
As a historian specifically interested in industrial and economic history from this era, I take interest in charts detailing trends from 1861. However, let’s be frank, residential property trends of 1861 bear zero relevance to the modern era.  As compared to my native UK, Australia achieved high rates of home ownership in the 19thcentury. My adopted city of Sydney had home ownership rates reaching 28% in 1891 as compared to only 10% in the Britain of 1900. However, data from the era of the horses and cart era pre-dating WWII is not relevant.
As a Pom I was often presented with such charts in the 1990s past as irrefutable proof that property is wildly over-priced, but over a reasonable period of time homeowners and property investors remain way ahead of those in other asset classes (and in and around London prices simply continue to increase).  Of more relevance is the significant increase in household debt, particularly the gearing up in response to banking deregulation and the structural shift to lower interest rates.
Ethics
Admittedly, when I first got into property, I hadn’t considered whether it is an ethical practice. It’s common to vilify owners of property as leeches, but we can’t have the milk and beef from the capitalism cow. If Australia continues populating at a frantic pace someone needs to own rentals or the system fails.  If you're taking aim at the cost of land/dwellings/renting, you’re picking the wrong target: the only route to change is through amendments to government policy, regulation and tax laws. Carping at landlords alters nothing.
Theory
It’s immature when faceless Tweeters dismiss Soos’ theories due to age (if you want to see what genuine student tripe looks like track down my analysis of Sheffield’s steel industry history/welfare state – utter dross). However, when it comes to finance and investment, there IS a key difference between theory and practice.  My suggestion for the long-term future of residential property has been that since interest rates fell from the nosebleed ~15% level, over an extended future time horizon prices are likely to some extent correlate to the growth in household incomes. Over the short term I’ve no more idea than Keen or anyone else what lies ahead.
Household incomes have flown along in Australia in the modern era, in part due to high inflation in recent decades and an increase in the number of two-income households. Absent a return to high inflation it’s likely that household income growth will be lower in the future, although it’s a fair bet that Australia’s moderately inflationary environment will prevail given that is the Reserve’s stated target.
Practice
Suppose you buy a home today for $300,000 and take on a mortgage of $240,000. If price growth does correspond to a growth in household incomes of, say, 4% per annum, what do you think that property might be worth over a working lifetime of 45 years?
I won’t type the number (it’s close to a sixfold increase) as I’d doubtless be certified as a raving loon. Run some numbers and you’ll note that due to compounding growth even if the estimation is wildly over-optimistic by a staggering percentage, the vast implied margin of safety determines that you still don’t lose out. More pertinently, you will OWN an unencumbered asset which you may choose to sell and downsize to assist in funding your retirement, or rent out at tomorrow’s doubtless exorbitant rental values.
An alternative to “buying now” is renting and investing in a diversified portfolio of ‘productive assets’. My suggestion in this case is to implement a prudent averaging strategy into a well-diversified LIC which invests in the industrials index with its superior dividend streams.  Two problems. Firstly, the spiralling cost of renting a decent property (if you believe that rents will become reasonable as the population booms you retain greater faith in political leadership than me). Secondly, in today’s world of overseas travel, credit card binges, impulse-buying and rampant consumerism, do Australians tend to diligently set aside a sizeable percentage of their income into a diversified portfolio of assets? Erm, no.
Ownership assets
We might reasonably expect to live in retirement for 20-30 years. If you’re to remain financially secure through such a time horizon you require a material retirement lump sum or annuity, and, ideally an unencumbered dwelling.  Debate continues on the impending fortunes or otherwise of our economy. However, if you believe interminably in the ‘Mad Max’ scenario that capitalism fails and only farmland and guns retain value, then unless you’re a trained mafioso, you’re doomed regardless. In a variation on Pascal’s wager, the only rational investment approach is to believe that capitalism continues to re-invent itself and prevails. You need to own income-producing assets, be they equities, real estate, commodities or cash.
Now, suppose you'd taken the market-timing advice of the purveyors of doom since 2008, when Keen made his infamous “house prices will crash by 40%” prediction. Over the last half decade you'd have sold your house, watched the cost of renting increase horribly, and, following the more recent dreadful advice to short-sell the world’s fourth largest iron ore producer, sent yourself into a financial tailspin (if undertaking a leveraged CFD play, perhaps bankrupt). Worse still, property prices have tracked upwards.
Let’s be absolutely clear: if your financial plan involves owning nothing and then speculatively selling shares you don’t even own (into a raging bull market and without using a sell-stop order) in the vain hope of buying them back cheaper down the road – your destiny is likely to be drawing the Age Pension and adding to the Government’s pre-existing headaches. To build a sound financial future you need to own income-producing assets with a longer-term growth component.
Speculation: looking out
Are property owners "speculators"? It’s true that in the short term property ownership often involves holding cost (even with mortgage rates dropping to ~5.00%) . But over time rents tend to increase. Investment properties generate income as well as long-term compounding growth. As Ben Graham highlighted, the word 'speculation' comes from the Latin noun specula, a “look out”. So let’s “look out” at what’s on the horizon for Australia:
Click to enlarge
<a href="/images/stories/2013/02/wargentfeb15.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/02/wargentfeb15thumb.gif"></a>
<a target="_blank" href="http:www.abc.gov.au">Source: abs.gov.au</a>
ABS projections will not be accurate and nor do they profess to be, but the populations of Australia’s four major capital cities look likely to skyrocket. Again, we turn to policy: what are we doing to hold down the cost of land and new developments? Unless I'm missing something: nothing.  A major problem will unfold during Australia’s “Great Rebalancing”. It’s hoped that low interest rates and housing construction will plug the gap/hole/crater left by the phenomenal boom in mining investment, but who’s going to buy the new housing? If no-one, then who will construct it?
New developments are expensive and often inappropriately designed or located. Thus both homebuyers and investors clamour towards the “better value” established dwellings, particularly those located in comfortable, commutable proximity to the four major capitals.  Naturally, prices will continue to peak (cue high-fiving property owners) and trough (self-congratulatory squeals of delight from renters) cyclically and much depends on the success of the mining boom transition from construction to production, but will capital city prices collapse permanently to well below where they were before the financial crisis? With the prevailing levels of intervention, that seems unlikely. The housing affordability debate will never go away, of course - even if prices and interest rates fall it will continue as it does in every decade.
Policy
This will be dismissed as a spruik, but if you’re genuinely concerned about the price of Australian housing you need to pick the right target: the Australian government. The challenges facing leadership with regards to housing are vast but not insurmountable: improved transport links, increasing the supply of appropriate land and dwellings, reforming the tax laws. If you think our leaders are equal to the task…you have more faith in them than I do.
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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