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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<img src="/images/stories/2013/01/minus4point4percent.gif">
 
The capital growth for Darwin houses in December, according to RP Data. House prices are up 7.6% for the year to a median price of $550,000. The median house yield is 6.1%.
 
<hr>
 
<img src="/images/stories/2013/01/minus0point9percent.gif">
The capital growth for Sydney houses in December, according to RP Data. House prices are up 1.3% for the year to a median price of $665,000. The median house yield is 4.3%.
 
<hr>
 
<img src="/images/stories/2013/01/0percent.gif">
The capital growth for Brisbane houses in December, according to RP Data. House prices are down 0.5% for the year to a median price of $440,000. The median house yield is 4.7%.
 
<hr>
 
<img src="/images/stories/2013/01/0point1percent.gif">
The capital growth for Adelaide houses in December, according to RP Data. House prices are down 0.8% for the year to a median price of $395,000. The median house yield is 4.3%.
 
<hr>
 
<img src="/images/stories/2013/01/0point2percent.gif">
The capital growth for Perth houses in December, according to RP Data. House prices are up 0.6% for the year to a median price of $493,000. The median house yield is 4.5%.
<hr>
<img src="/images/stories/2013/01/0point5percent.gif">
The capital growth for Melbourne houses in December, according to RP Data. House prices are down 2.9% for the year to a median price of $550000. The median house yield is 3.6%.
<hr>
 
 
<img src="/images/stories/2013/01/0point7percent.gif">
The capital growth for Hobart houses in December, according to RP Data. House prices are down 0.5% for the year to a median price of $325,000. The median house yield is 5.4%.
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Darwin house prices up 7.6% in 2012: An RP Data state-by-state analysis

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You may have noticed a moderately improved sentiment in the tone of the financial press at the beginning of January. As the fiscal cliff was "expertly" negotiated (i.e. taken down to the proverbial wire by self-interested US politicians patently uninterested in bi-partisan co-operation), many analysts are expecting moderate growth for the Australian economy and a reasonable year ahead. 
Commodity prices have not tanked as was feared, and iron ore in particular has bounced back phenomenally. This has totally and utterly confounded – in fact, virtually silenced – the perma-bears who so gleefully predicted not even four months ago that the iron ore spot would fall to just $60/tonne. 
Instead, on Friday the iron ore price bounded merrily through $153/tonne. That is a spectacular miss by any measure of the term, and far more importantly is wonderful news for anyone who wants the future of Australia’s economy and job markets to be a prosperous one. 
It also seems that the prospects for stocks are markedly improved as the persistently low interest rates gradually wrench risk-averse Aussies away from fixed-income investments.  That said, we still have the small matter of a US debt ceiling vote to be resolved before we can see any hint of a blue sky. 
Yield curve flattens 
I’ve been particularly interested to note the marked shift in the yield curve over the past five trading sessions. At close of trade on Tuesday (January 8) the ASX 30 Day Interbank Cash Rate Futures February 2013 contract was trading at 97.075.
You can see the progressive tightening in interbank cash rates since 2011 in the chart below as the Reserve Bank anticipates a rocky road ahead and an awkward transition from the capital investment phase of the mining boom to the production phase.
 
<img src="/images/stories/2013/01/wargentjan8.gif">
Cash rate flattening out?
In slightly plainer English this implies only a 41% expectation of another interest rate decrease to 2.75% at the next RBA board meeting in February. So while the market is still pricing in a fair likelihood of another imminent cut in the cash rate, the percentages are way down on the 66% we saw as recently as December 27 before “Taxmageddon” was negotiated.
<table cellspacing="0" cellpadding="0" border="0"><tbody>
<tr>
<td width="34%" valign="top" align="center">Trading Day</td>
<td width="33%" valign="top" align="center">No Change</td>
<td width="33%" valign="top" align="center">Decrease to 2.75%</td>
</tr>
<tr>
<td align="center">24 December</td>
<td align="center">37%</td>
<td align="center">63%</td>
</tr>
<tr>
<td align="center">27 December</td>
<td align="center">34%</td>
<td align="center">66%</td>
</tr>
<tr>
<td align="center">28 December</td>
<td align="center">37%</td>
<td align="center">63%</td>
</tr>
<tr>
<td align="center">31 December</td>
<td align="center">37%</td>
<td align="center">63%</td>
</tr>
<tr>
<td align="center">2 January</td>
<td align="center">44%</td>
<td align="center">56%</td>
</tr>
<tr>
<td align="center">3 January</td>
<td align="center">49%</td>
<td align="center">51%</td>
</tr>
<tr>
<td align="center">4 January</td>
<td align="center">56%</td>
<td align="center">44%</td>
</tr>
<tr>
<td align="center">7 January</td>
<td align="center">59%</td>
<td align="center">41%</td>
</tr>
</tbody></table>
 
<img src="/images/stories/2013/01/wargentjan9.gif">
Previously the implied expectation showed that on balance interest rates were likely to be cut twice more to just 2.5% by the middle of 2013. Markets no longer deem that quite so likely – the yield curve now flattens out more quickly by July 2013 and at well above 2.5%, indicating that we may well only see one more interest rate cut. 
This by no means bad news for mortgage holders and property investors, for the cash rate is already very low, and rates yet closer to the zero bound are indicative of a sick economy.
 
<hr class="system-pagebreak">
 
Not a prediction 
Of course, the yield curve is not an actual prediction of the future. 
Instead, it is a weighted implied expectation – in other words, it prices in the possibility that we have already reached the bottom of the easing cycle and that rates will fall no lower than 3%. But it also prices in the possibility that the US falls back into recession, growth in China stumbles badly and the interest rates are dropped to the bottom of the zero bound. 
As for what we might reasonably expect? While noting that the only certainty about predictions is that they will probably be wrong, it seems very likely to me that whether or not we have reached the nadir of the easing cycle, we are likely to see a prolonged period of low interest rates.
The Reserve Bank is hoping that the gap left behind after the incredible boom in mining capital investment finally reaches its peak will eventually be plugged by construction and investment in housing. However, there doesn’t seem to be much evidence of that happening to date, as the construction index finished 2012 in negative territory. 
While some property markets will continue their gentle slide into 2013, most forecasters believe that a cash rate of just 3% is likely to begin to stimulate activity in those major property markets with strong demand and low vacancy rates. 
Keep an eye out for sentiment beginning to improve in Perth, Brisbane and Sydney. As for whether Darwin will continue its stellar run, who knows? I was in Darwin a little while ago visiting Mindil Beach sunset markets and everyone seemed happy enough, but then again it was a Friday night in the lead-up to Christmas. Reported vacancy rates are still tight, so growth could continue.
Some will try to second-guess the hotspot markets for 2013 again this year, or even look to capital city markets with meagre population growth. Personally I look away from those markets that are showing low absolute annual population growth such as Tasmania (+800 persons in the year to June 2012), Northern Territory (+3,500), Australian Capital Territory (+6,900) and South Australia (+16,500).
Instead, over the long term I look at those states which house the major capital city markets and where populations are absolutely booming: New South Wales (+78,900), Western Australia (+78,000), Queensland (+86,000) and Victoria (+89,000). 
In spite of what most pundits seem to indicate these days, the future is (thankfully) unknown to us, and therefore we will only really know what happens when it actually does. It wouldn't be much fun if we could really see into the future, would it?
The short term is inherently unpredictable, but it’s a brave person who believes that populations in the major capital city property markets growing at such a furious pace won’t result in prime location land and property prices move higher over the next few decades.
 <img style="margin: 5px; float: left;" src="/images/stories/2012/12/wargentbook.jpg">
Pete Wargent holds a range of finance and property qualifications and is the author of <a href="https://petewargent.blogspot.com.au/" target="_blank">Get a Financial Grip – a simple plan for financial freedom.</a>
 
 
 
 
 
 
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pwargent-M4siyDbqQY

Money markets increasingly expect maybe only one more RBA cash rate cut by year-end

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Demand for fixed-rate home loans tapered off in December following four consecutive months of gains, according to new home loan approval data from Mortgage Choice.
Fixed-rate home loans accounted for 20.14% of all new home loan approvals in December, down from 22.37% in November.
The reduced appetite for these more conservative lending products follows the 25-basis-point RBA cash rate cut on December 5, taking the cash rate to 3% and expectations of further rate cuts in 2013.
Furthermore, the latest mortgage rates <a href="https://www.propertyobserver.com.au/news/more-rate-cuts-likely-in-2013-a-guide-to-the-lowest-rate-home-loan-offerings-as-of-january-7/2013010658623" target="_blank">published on mortgage comparison websites</a> suggests that borrowers can source variable mortgage rates that are only a few basis points off fixed-rate offerings, with the added benefit of greater flexibility and not being locked into a rate should rates fall further.
Demand for fixed-rates has now fallen below the 12-month average of 21%, with the popularity of fixed-rate loans decreasing in the majority of states, by an average of 4.26 percentage points.
Demand for fixed-rate home loans rose by 4.12 percentage points in Queensland.
Over the same period the percentage of variable-rate loans rose to 79.86% from 77.63% in November, with increased appetite for no-frills basic variable home loans rising by 1.75 percentage points to 17.71%, and ongoing discount home loans remaining the most popular at 41.16% of all new home loan approvals in December.
Demand for standard variable rates was relatively steady, dipping by only 0.12 percentage points to 16.78%. Demand for line-of-credit loans, popular with investors, rose slightly to 3.26%, while introductory rates dropped marginally to 0.95%.
“Our data shows that fixed rates have fallen out of favour in December for the first time in five months as recent variable rate cuts gain the attention of the majority of new borrowers,” says Mortgage Choice spokesperson Belinda Williamson.
“While fixed rate home loans continue to offer piece of mind with a steady repayment level, a variable rate home loan that has the potential to shift down in price is proving more attractive. In fact, four in every five new borrowers say they would opt for this type of loan,” says Williamson.
“Borrowers may also be heeding the advice that there may be more cuts to come, particularly as recent media reports suggests some lenders may cut their home loan rates out of cycle with the Reserve Bank of Australia’s cash rate setting and as soon as next month.”
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lschlesinger-FZcF9M3vE6

Appetite for fixed-rate home loans falls in December following rate cut: Mortgage Choice

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House building activity declined at its steepest rate in three months to December amid weaker new orders as the overall construction sector continued to contract – albeit at a slower rate – for the 31st consecutive month.
The seasonally adjusted Australian Industry Group/ Housing Industry Association Australian (AIG/HIA) Performance of Construction Index (PCI) increased by 1.8 points in December to 38.8, still well below the 50 points level that separates expansion from contraction.
The December index update shows that house building conditions weakened, with the sector’s activity sub-index falling by 6.1 points to 34.7 to signal a sharper rate of contraction in December.
<img src="/images/stories/2013/01/hiajan8.gif">
New orders in the house building sector declined by four points in December to 33.9, compared with new orders index increasing by 8.3 points to 42.6 across all sectors of the construction industry.
The increased rate of contraction reflected a steeper decline in new orders, “which is of concern for the sector’s outlook”, noted the AIG and HIA.
Apartment building activity was also more subdued in December, with the sub-index declining by 2.4 points in December to 40.1.
In contrast, commercial construction activity contracted at its slowest pace in just over two years, while the rate of decline in engineering construction again eased during the month.
AIG director of public policy Peter Burn says construction activity ended the year largely as it began it, “deeply entrenched in negative territory”.
While he says there are some signs of more positive conditions for 2013, he describes as “worrying” the steeper decline in new orders within the house building sector, with “low consumer confidence continuing to weigh heavily on demand”.
HIA chief economist Harley Dale says the December update for housing is disappointing.
“Detached house building represents well over 60% of all residential construction activity in Australia, and the December 2012 Australian PCI points to a steeper decline in activity and new orders, not to mention employment,” he says.
“That is a concerning update, which aligns with other indicators suggesting a deterioration in pre-existing weak conditions for detached house building in the latter part of last year.
“Activity in the apartments sector only lost a modest amount of the ground gained in November while new orders contracted at a slower pace, but monthly iterations still revolve around clear contractionary conditions.
“All up, if policy makers were hoping the first housing update out in 2013 would deliver a signal of current policy settings boosting the chance of a new home building recovery, they’re going to have to keep hoping," says Dale.
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Dwelling construction activity continues to slump in December quarter: AIG/HIA

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Retailers are enjoying strong Boxing Day sales trading with the Australian Retailers Association predicting its estimates of $14.8 billion in spending from 26 December to 15 January will be met.
Most of this spending came immediately after Christmas with the Australian National Retailers Association estimating $1.8 billion was spent on Boxing Day itself, with $5.7 billion spent in the first week of the sales. However, the association does not have results to confirm its estimates yet.
It comes as the NAB Online Retail Sales Index for November recorded surges ahead of Christmas, rising to 241 points from 209 points in October, but year-on-year growth only edged higher to 27%.
In the 12 months to November 2012, Australians spent around $12.6 billion on online retail. This level is equivalent to 5.7% of the scale of traditional bricks and mortar retail (excluding cafés, restaurants and takeaway food) for the year to October 2012.
November is the peak month for online retail sales – with consumers allowing adequate time for delivery of their purchases prior to Christmas.
Alan Oster, chief economist at NAB, says as the online market matures, it will be interesting to observe whether consumers have greater confidence to make online purchases later in the month.
ANRA chief executive Margy Osmond says post-Christmas sales got off to a great start on Boxing Day with large numbers flocking to stores and shopping online.
“Christmas Day was one of the biggest online shopping days as people looked to cash in their Christmas present vouchers.”
Russell Zimmerman, executive director of the Australian Retailers Association, was also positive about the sales period and said the few days directly after Christmas and Boxing Day were “very strong and solid”, although sales were starting to slow down now.
“The Boxing Day sales were very big and the pre-Boxing Day sales by those retailers that were online worked very well,” he says.
The ARA predicted a 3.9% increase on last year’s post-Boxing Day sales and Zimmerman says he thinks that will be pretty close to the mark.
“Some things, like men’s clothing, are doing very well in post-Christmas sales as I suspect men have not been looked after over the last couple of years but it’s got to the point they have to buy new clothes for work,” Zimmerman says.
He says food was also a very strong performer for retailers in the sales period.
“We projected about $6 billion of post-Christmas food sales in the period until January 15 and I think that is pretty much on target to come through,” he says.
However, Zimmerman says while retailers are happy with the sales boost, they would have liked more.
“Retailers would have liked to have seen a much bigger increase. We predicted 3.9% increase in spending and $41 billion spent in in pre-Christmas sales this year, 10 years ago we used to get increases of 5% to 6% but those days have gone for a long while yet,” he says.
“If this hot weather keeps up, that will slow down some of the sales moving into the next few days as heat has an interesting effect on people going out and buying – if it gets too hot they don’t leave home.”
The strong performance comes after a promising start in 2011 dwindled to a flat result overall for retail, with the latest Australian Industry Group/Commonwealth Bank Australian Performance of Services Index falling 3.9 points to 43.2 in December.
Sub-sectors linked to household spending including retail trade and accommodation, cafes and restaurants all reported declines in activity in December.
"At the end of what was a tough year for the services sector, consumer caution, poor sentiment and the high Australian dollar all continued to weigh heavily on sales to households during the Christmas trading peak,” AIG chief executive Innes Willox says.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Australian retailers buoyed by post-Christmas sales

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Mortgage holders should not take their home loan for granted in 2013 after lenders passed on only 133 out of 175 basis points cut from the cash rate since November 2011 on the average variable home loan, according to mortgage comparison website<a target="_blank" href="https://www.ratecity.com.au/"> RateCity.com.au</a>.
This figure is based on RateCity.com.au’s analysis of the more than 100 mortgage lenders listed on its website.
The major banks and their subsidiaries, which dominate the home loan market, have in the last few years adopted a policy of not passing on rate cuts in full – on average they pass on between 75% and 80% of cash rate cuts.
Research by Property Observer shows that the Commonwealth Bank currently offers the lowest variable rate at 5.34%, an introductory rate for the first year of the loan, after which the loan reverts to the “relevant variable rate”.
NAB’s online offering UBank offers the lowest fixed rates (5.03% for one-year and 5.13% for three-year) and the second lowest variable rate (5.37%), but these rate only apply to borrowers who are refinancing into a UBank loan.
Bankwest currently offers an advertised variable home loan offering of 5.38% – but restricted to new borrowers only.
These are the lowest fixed and variable offerings of the major banks and their subsidiaries (where advertised rates are the same, the lender with the lower comparison rate gets preference):
Lowest variable rate offerings:
<table border="1" cellspacing="0" cellpadding="0" width="470"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="124" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">
Commonwealth Bank
</td>
<td width="124" valign="top">
1 Year Guaranteed Rate
</td>
<td width="97" valign="top">
5.34%
</td>
<td width="116" valign="top">
6.43%
</td>
</tr>
<tr>
<td width="134" valign="top">
UBank (NAB)
</td>
<td width="124" valign="top">
UHomeLoan Refinancing
</td>
<td width="97" valign="top">
5.37%
</td>
<td width="116" valign="top">
5.30%
</td>
</tr>
<tr>
<td width="134" valign="top">
Bankwest (CBA)
</td>
<td width="124" valign="top">
Online Home Loan
</td>
<td width="97" valign="top">
5.38%
</td>
<td width="116" valign="top">
5.38%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table border="1" cellspacing="0" cellpadding="0" width="470"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank (NAB)
</td>
<td width="123" valign="top">
UHomeLoan Refinancing
</td>
<td width="95" valign="top">
5.03%
</td>
<td width="114" valign="top">
5.36%
</td>
</tr>
<tr>
<td width="137" valign="top">
NAB
</td>
<td width="123" valign="top">
Fixed rate package
</td>
<td width="95" valign="top">
5.34%
</td>
<td width="114" valign="top">
6.11%
</td>
</tr>
<tr>
<td width="137" valign="top">
Bankwest
</td>
<td width="123" valign="top">
Fixed Rate Home Loan
</td>
<td width="95" valign="top">
5.39%
</td>
<td width="114" valign="top">
6.24%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table border="1" cellspacing="0" cellpadding="0" width="470"><tbody>
<tr>
<td width="132" valign="top">
Provider
</td>
<td width="131" valign="top">
Loan name
</td>
<td width="96" valign="top">
Rate
</td>
<td width="111" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="132" valign="top">
UBank (NAB)
</td>
<td width="131" valign="top">
UHomeLoan Refinancing
</td>
<td width="96" valign="top">
5.13%
</td>
<td width="111" valign="top">
5.26%
</td>
</tr>
<tr>
<td width="132" valign="top">
NAB
</td>
<td width="131" valign="top">
Fixed rate package
</td>
<td width="96" valign="top">
5.39%
</td>
<td width="111" valign="top">
6.04%
</td>
</tr>
<tr>
<td width="132" valign="top">
Commonwealth Bank
</td>
<td width="131" valign="top">
Fixed rate package
</td>
<td width="96" valign="top">
5.39%
</td>
<td width="111" valign="top">
6.12%
</td>
</tr>
</tbody></table>
 *A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
Initially banks blamed the higher cost of raising funds on international money markets brought on by the GFC for not passing on rate cuts in full and in some instances have lifted variable mortgage rates out of cycle with the RBA.
More recently banks have blamed the need to fund a greater share of their lending from the competitive retail deposits market for their inability to pass on rate cuts in full.
This is primarily due to <a href="https://www.propertyobserver.com.au/news/banks-have-pushed-up-their-lending-margins-but-funding-costs-have-risen-rba/2012060154943" target="_blank">introduction of Basel III</a>, the new international banking guidelines, which raise the amount of capital and liquid assets banks must hold. Banks now compete aggressively for retail deposits.
However, as noted by ANZ today, the Basel Committee has agreed to change previously proposed rules over bank liquidity requirements, loosening and expanding the criteria for securities that are eligible to meet a bank’s ‘liquidity coverage ratio’.
Under the revised rules, liquid bank assets can now include corporate bonds rated as low as BBB-, certain blue-chip equities and certain mortgage-backed securities rated AA or above.
ANZ also notes that the committee delayed the implementation of the proposed rules to 2019 from 2015.
 
<hr class="system-pagebreak">
 
According to RateCity.com.au, borrowers with a $300,000 mortgage would have saved extra $80 per month if lenders matched RBA cash rate cuts.
RateCity.com.au spokesperson Michelle Hutchison says this research should be a wake-up call for borrowers.
“Even though variable home loans have been falling for more than a year, which has saved borrowers $264 in monthly repayments for a $300,000 mortgage, many borrowers missed out on further savings because most lenders didn’t pass on rate cuts in full.
Hutchison expects the trend to continue this year where lenders move rates independently of the Reserve Bank.
“While further relief may be in sight, borrowers need to concentrate on the actual rate they are paying. Keep track of your home loan, compare it online to the rest of the market and renegotiate or switch to a better deal.”
At the same time that RateCity.com.au highlights banks and other lenders inability to pass on rate cuts in full, there are rumours circulating that the major banks may be considering doing the seemingly unthinkable, cutting their mortgage rates outside of the RBA rate cycle – a sign that competition in mortgage lending is heating up.
After News Ltd paper weekend reports, Brokernews.com.au reports that Westpac is considering a six-basis-point rate cut in February, regardless of whether the RBA cuts the cash rate at its February 5 monetary policy meeting.
This is subject to the out-of-cycle rate cuts not falling foul of <a href="https://www.accc.gov.au/content/item.phtml?itemId=1056925&amp;nodeId=cdc7bcede8d5f280ca1577e18e024825&amp;fn=Anti-competitive%20price%20signalling%20and%20information%20disclosures.pdf" target="_blank">anti-competitive new price-signalling</a> and information disclosure rules, introducing by the ACCC (and only applying to the banking sector) in June last year.
Analysts are also expecting the banks to move out of cycle, with TS Lim of Bell-Potter Securities telling news.com.au that he’s expecting one of the big four banks to cut rates by March.
Another analyst, Stephen Walters from JP Morgan, said lower global funding costs would enable banks to make out-of-cycle rate cuts.
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The lowest mortgage rates from the big four banks and their subsidiaries

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We hear the term "guarantee" bantered around a bit within the property management world.  We hear prospective tenants regularly offer to have their mum, dad or guardian go as a guarantee for them at the time of applying for a rental property.
And many property managers believe by taking the guarantee they are further protecting their owner should the tenancy fall into arrears or should there be damage at the conclusion of the tenancy.
But sadly this is not correct. The correct facts are:
<ul>
<li>If you take a guarantee, you are unable to receive a bond.</li>
</ul>
<ul>
<li>And the guarantee is only responsible to guarantee the amount that is equal to the bond amount.</li>
</ul>
So now I am sure you are seeing the potential problems.
A bond should be taken on every single occasion, unless instructed by the owner of the property otherwise (and you would confirm their instructions in writing of this request).
In situations where parents or guardians are wishing to assist prospective tenants, instead of discussing guarantees (which I know you see now are not the wise option), have those people complete a tenancy application form.
Process their application and present all the applications to the owner for consideration. Yes, I know they won’t be residing at the property, and that is OK (and it's not sub-letting, for anyone thinking it). But by having them form part of to the tenancy agreement, they are now equally responsible for the term of the tenancy. They are responsible for the condition, rental payments and for any potential loss in excess of the bond amount.
Leah Calnan is the director of <a href="https://www.metropm.com.au/" title="Metro Property Management homepage" target="_blank">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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leahcalnan-pwE6GD6KY9

Why landlords should take a bond from every single tenant

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Markets touched by the resources sector dominated capital growth performance last year, and 2013 will be little different. 
Infrastructure development will again be a key influence this year, much of it related to the resources revolution, which is still very much alive and kicking goals. 
The worst call of 2012 was the declaration of the end of the so-called mining boom. This spectacular misreading of a situation was headed by Federal Resources Minister Martin Ferguson, who was the 2012 recipient of my annual award for Goose of the Year, and exacerbated by attention-seeking bean counters like Deloitte Access Economics. 
The race to be the first to call the end of the boom was inspired by the decline in world prices for commodities like iron ore and coal. People whose vision extends no further than the tip of their noses failed to consider the possibility that this might not be a permanent condition. 
In fact, the decline in iron ore prices lasted only a few months. Having hit bottom in September, iron ore prices are now double those levels. December was a record month in the history of iron ore exports from Western Australia. 
Meanwhile, major overseas entities – from India, Brazil and China, among others – are rushing to invest in Queensland’s new coal province, the Galilee Basin, and related infrastructure such as rail links, export facilities and accommodation villages. Current projects based on that region total at least $40 billion. 
Also meanwhile, the 10 largest resources enterprises in Australia are gas ventures, and they’re all charging ahead with their expansion programs. 
Meanwhile again, every day there are new announcements providing evidence that the obituary of the resources sector was prematurely published. Here are some from the first week of January:
<ul>
<li>BG Group has borrowed $1.8 billion to advance its $20 billion Queensland Curtis Island LNG project;</li>
<li>Arrium has shipped the first iron ore from Southern Iron through its newly expanded port at Whyalla;</li>
<li>Atlas Iron has begun production of its Mt Dove project near Port Hedland;</li>
<li>public submissions have opened for Arrow Energy’s planned Arrow Surat coal seam gas pipeline in Queensland; Gindalbie Metals has shipped the first magnetite from its Karara project through Geraldton’s port;</li>
<li>the South Australian government says it has issued a record number of minerals exploration licences, with 977 now currently active;</li>
<li>Chevron has made two new offshore gas discoveries of the north-west coast of WA to support its Gorgon and Wheatstone projects (two of the three largest resources projects in the nation’s history);</li>
<li>and MacMines is planning the $5 billion China Stone coal project in central Queensland. </li>
</ul>
Have you noticed any of this, Martin? Still think the mining boom is over? Still hold to your loudly expressed view that commodity prices will never again reach the levels seen in the first half of 2012? Have you learnt yet to think before you speak? Alas, probably not. 
I’m wondering also if BHP Billiton’s boy wonder Marius Kloppers has yet to disengage the panic button, which is the most-used accessory on his office desk. That 2012 frenzy of project deferrals is looking a tad silly right now. 
Darwin was the runaway leader on rental and price growth among the capital cities last year because it was the one most directly impacted by the construction of the resources infrastructure. It will be so again in 2013, while Perth will join the party as well. Perth has already had the big rental growth – the price rises will follow this year. 
Brisbane, having recovered from the declines of 2011 and the first half of 2012, is ready to show price growth again and will be greatly influenced by the state’s expanding resources sector. 
But key regional centres will again be the growth stars. Most media commentary reviewing real estate last year and looking ahead for 2013 has ignored the regions. They’re doing their readers a disservice, because there were plenty of growth markets in 2012 – it’s just that they were outside the capital cities and escaped the attention of city-centric talking heads. 
Expect more of the same in 2013.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
For more, watch Terry's free webinar <a href="/news">Regions vs capital cities: Where to invest in 2013</a>
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terryryder-YECXbqmri2

Key regional centres will again be property growth stars in 2013 as mining boom far from over: Terry Ryder

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What is “growth”?
So <country-region>Australia</country-region> is forecast to have growth this year. That’s great! But what does that actually mean? Well, the biggest number of all in economics is GDP – the gross domestic product, which, as the name suggests is the measure of all of a country’s income.
The forecasters expect <country-region>China</country-region> to continue its blistering rate of growth. The great news for <country-region>Australia</country-region>, despite the forecasts of relatively modest growth levels, is that <country-region>Australia</country-region> has not had a recessionary period for more than two decades. A recession is usually defined as two successive quarters of negative growth.
Over time as a nation we have consistently been becoming wealthier and average household income has far outpaced inflation over a long period of time.
What GDP actually includes
The measurement of <country-region>Australia</country-region>’s GDP includes its total income and its total spending including all goods and services.
Of course, the number can never be completely accurate for some transactions officially never take place! For example, a drug dealer won’t be declaring his or her sales to the Australian Taxation Office.
GDP also attempts to avoid double-counting. The example of a car is often used: when calculating GDP we don’t want to include the components of the car as well as the final sales price of the vehicle. What we really want to know is the GDP on a value-add basis.
So a GDP figure will never be perfect, but it’s the best we have got. And it is the trend in GDP, the percentage movements from year to year, which interests economists: are we growing, stagnating or going backwards?
It is worth taking note in the financial press of whether the figure quoted is real of nominal GDP, for real GDP growth is a measurement which strips out inflation.
The individual segments of GDP
The four segments of GDP are:
<ul>
<li>Consumption</li>
<li>Investment</li>
<li>Government spending</li>
<li>Net exports</li>
</ul>
Government spending could account for less than 20% of its GDP, but a number of European countries have national health services that are funded by governments and thus the percentage can be much higher (which is bringing its own problems in European in the form of unsustainable government debt levels).
In countries such as the <country-region>US</country-region> total spending can be more than 100% of GDP which on the face of it seems impossible, but is in fact possible due to goods being imported from overseas.
Mining boom
One major trend that we have seen in <country-region>Australia</country-region> is a phenomenal boom in mining capital investment. Over the next year or two we are expecting to see mining investment begin to fall as the construction stage of the major resources projects peaks and we shift towards the production phase.
A major challenge for <country-region>Australia</country-region> is what will fill the hole left by the incredible boom in mining investment. It is hoped that investment in housing and construction will fill some of the hole but that doesn’t seem to have really taken much effect as yet.
A consequence of this is that we are likely to see a prolonged period of low interest rates as the Reserve Bank aims to stimulate the other sectors of the economy to plug the mining investment gap.
There are some other limitations to the GDP measurement. One is that in does not take account of the level of inequality of a country so GDP may be growing but whether or not the wealth flows down to the population with great inequality is not considered. 
 
<hr class="system-pagebreak">
 
What next for our investment markets?
It might seem unusual given the amount of anxiety around at present but there is a consensus that now is likely to be a good time for owners of stocks. Britain, the US and Australia all saw positive returns in 2012, and this is forecast by most commentators to continue.
Why is this? One reason is that interest rates are so low that savings accounts, particularly in the <country-region>US</country-region> and in the <country-region>UK</country-region>, are yielding minimal or negative real returns. Thus increasingly investors are forced to consider other alternatives. Company shares are often yielding dividends which are far in excess of the return of fixed-income investments at present which is seeing a move to the risk or growth asset classes.
There also is some fear that bonds could be well overvalued at present on a global level, and as and when interest rates are ratcheted up there could be a major correction. This might seem esoteric to you but if you don’t self-manage your superannuation do you know where your super fund manager has invested your pension?
As for property markets, historically lower interest rates have shown a strong correlation with price appreciation. The major banks have clawed back a fair chunk of the recently delivered interest rate cuts in order to cover funding costs, but mortgage rates have steadily dropped with the cash rate to historically very cheap levels.
The governor of the Reserve Bank in Australia has warned Australians that a return to very strong property price growth would be imprudent, which is a sure sign that there is concern that low interest rates could fuel a return to growth. Most forecasting houses are predicting a return to moderate property price growth in 2013.
Property price growth needs population growth and growing wealth
Through 2010 and 2011 I was lucky enough to be able to travel 26,000 kilometres around <country-region>Australia</country-region> and then to a couple of dozen countries across the world, which proved extremely interesting as I was able to compare dozens of real estate markets.
What is evident is that for property prices to grow, a country often needs to see population growth and to be growing its wealth.
I went to see the famous Sphinx and the pyramids, one of the seven ancient wonders of the world. The city of <city>Cairo</city> was quite amazing, it now comprising around a quarter of <country-region>Egypt</country-region>’s population with around 15 million inhabitants. But the population growth has not triggered great property price growth because the country has been through a revolution and the economy is in disarray.
When I finally made it to <city>London</city> after 15 months on the road, I was surprised to see that house prices in <city>London</city> are higher than they have ever been. What of the great crash everyone has been harping on about?
Strangely, although property prices in the <country-region>UK</country-region> notionally fell sharply through the financial crisis, <city>London</city> has pushed on to ever greater heights. Demographic shifts have seen more Brits and immigrants moving to the south-east of <country-region>England</country-region> which is in the process of causing a drastic housing shortage in that part of the country.
And while <country-region>Britain</country-region> seems to be struggling in terms of its economy, the pain has not been felt evenly. Developed countries used to be known for their industrial output and manufacturing, but today it is the intellectual expertise in areas such as financial services which are creating wealth. <city>London</city>’s growth into becoming Europe’s premier financial centre is <country-region>Britain</country-region>’s main success story of recent decades.
In <country-region>Australia</country-region> we do live in a lucky country. Not only do we have a population which is set to boom over the next few decades, our government also presides over an economy benefiting from a mining boom. And also cities such as Melbourne and Sydney are becoming major financial centres.
Sure, we’ll face some challenges, but then if you look back through the financial press over the decades you will discover that in fact, this is always and everywhere the case.
<img style="margin: 5px; float: left;" src="/images/stories/2012/12/wargentbook.jpg">
Pete Wargent holds a range of finance and property qualifications and is the author of <a href="https://petewargent.blogspot.com.au/" target="_blank">Get a Financial Grip – a simple plan for financial freedom.</a>
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What Australia's GDP growth in 2013 will mean for property investors

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The Bank of Scotland International has offloaded $200 million worth of corporate and project debt in the listed property company Becton Group.
The buyers are understood to be a consortium of Goldman Sachs and the United States hedge fund Fortress Investment Group.
Becton has a market capitalisation of just $3.4 million and has been looking for a way to stabilise its longer-term structure.
But the latest scenario suggests a likely tussle between Becton's incoming lenders and the company's major shareholders including Telopea Capital, Mariner Corporation and Titanium Property Investment.
“We have sold our holdings in Becton,” a spokeswoman for BOS International told the Austraian Financial Review on Friday, noting that settlement of the transaction was imminent.
But Becton is still not in a position to be expansive on what had happened or what the consequences could following its securing a trading halt on Friday January 4, 2013, noting it would update investors in “due course”.
“The trading halt is being sought in relation to incomplete information which has come to Becton’s attention regarding the possible sale by Becton’s corporate debt provider of the debt owned by Becton to that debt provider,” the company said in a statement to the Australian Securities Exchange on Friday.
The Becton loans are held by the local subsidiary of Lloyds Banking Group, known as BOSI.
The debt parcel being sold includes secured debt, and a separate tranche relating to the Divercity property development in Sydney’s Waterloo.
The AFR speculated the corporate debt was likely to be sold at a substantial discount to its face value.
The sale of the debt may also trigger further restructuring at Becton, including possible privatisation.
“We embrace the change because it means the company can have a robust discussion about the future,” Mariner boss Darren Olney-Fraser told the AFR.
He has previously called BOSI as a intransigent debt holder. 
Following the global financial crisis, Lloyds has been reducing its non-core exposures in Australasia in the past few years. 
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