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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Clearance rates across the combined capital cities decreased to 49.4% last week, compared with 51.3% the previous week. There were 2,139 auctions held across the capital cities last week, while at the same time last year, the combined capital city clearance rate was recorded at 44% and there were 1,790 auctions held over the week.
In Melbourne last week, the clearance rate was recorded at 55.6%, down from a stronger 58.2% the previous week. Melbourne’s clearance rate continues to outperform when compared with the same time last year, when the clearance rate was recorded at 50%. Auction volumes are also at higher levels with 971 auctions held across Melbourne last week, compared to 774 at the same time last year. There were 784 auctions held in Sydney last week with the clearance rate recorded at 48.6%, down from 50.4% the previous week. Over the same week last year, Sydney’s clearance rate was recorded at 44.5%.
Next week, there are almost 2,900 auctions scheduled across the country, with 2,097 of these auctions being held in the capital cities.
Click to enlarge
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Almost 2,900 auctions set for this week: RP Data

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The Australian Bankers’ Association (ABA) has defended the past decisions by its banking members not to pass on cash rate cuts in full in a seemingly pre-emptive advisement ahead today’s forecast 25 basis point rate cut by the RBA.
Banks are expected to pass on around 20 basis points to borrowers with a now familiar consumer, media and political backlash likely to follow.
Ahead of today's announcement, Steven Münchenberg, chief executive of ABA, says the Reserve Bank has ttself acknowledged that funding costs have increased by 50 basis points over the past year, with banks absorbing some of this increase themselves.
“The Reserve Bank understands the cash rate is just one component of the true cost of banks’ funding and therefore does not expect banks and other lenders to exactly match every cash rate movement,” says Münchenberg.
“The Reserve Bank Board takes into account what borrowers are actually paying in the marketplace for loans and what they are receiving on deposits when making their decision.”
“Banks are facing higher funding costs mainly due to the competitive rates being paid on deposits.”
Münchenberg says customers should shop around for the best home loan deal, pointing out that banks routinely offering discounts of around 70 basis points off the advertised standard variable rate to approved customers.
However, he failed to explain how banks can offer these discounts in a higher funding-cost environment.
Münchenberg said that prior to the GFC, term deposits were priced on average 200 basis points below the cash rate. Now, they are 20 basis points above the cash rate.”
“While interest rates on deposits remain attractive and competitive for savers, when combined with the cost of wholesale funding, deposits continue to put pressure on the overall cost of funds for banks.”
He pointed to the most recent Statement on Monetary Policy, where the Reserve Bank noted that “bank funding costs – relative to the cash rate – have risen by about 50 basis points over the past year…[which] largely reflects the increased cost of deposits.”
“The Reserve Bank cash rate has reduced 150 basis points since November last year, but with banks, credit unions and building societies facing real funding cost pressures, not all of that has been passed on. The Reserve Bank calculates that the major banks have cut standard variable home loan rates by an average of 115 basis points.”
“For small business lending backed by residential security, banks have passed on more of the cash rate cuts, reducing the average loan by up to 120 basis points.”
“While the Reserve Bank has identified that average funding costs have increased by 50 basis points, banks have only passed on 30 – 35 basis points to most home and small business borrowers.”
“At the same time, banks have only passed on about half the cash rate cuts to savers with term deposits.”
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Australian Bankers' Association says banks justified in not passing on rate cuts in full

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Investors continue to focus attention on Gladstone, arguably the number-one boom town in the nation, as I wrote in my Property Observer column in October.
I get asked lots of questions about the wisdom of buying in Gladstone. 
The problem? The optimum time to buy there was two years ago. If you buy now, you’re paying for someone else’s capital gains. 
The question I get asked – about Gladstone and other growth centres – is this: why didn’t I know about this place in 2010? 
The answer: because you didn’t know what to look for, nor where to find it. 
Gladstone’s capital growth over the past two years was a no-brainer for anyone with the habit of acquiring pertinent information. 
This is something all wannabe investors should do, but few know how to start and even fewer are willing to spend time and money. 
Therein lies the answer to another question: why do so few attain their goals as investors? 
Many want a shortcut to the next growth area. They want the inside information but aren’t willing to get any dirt under their fingernails. 
People with that mentality are in the wrong business. They have a bleak future as property investors.
The alternative to paying for good information is hard work. If you don’t want to pay for market intelligence, you have to acquire it at the expense of your own time. 
The good news is that all the information you could ever need is out there. Anyone with internet access can find it. 
The bad news is you have know where to look and you have to be willing to spend time. 
For Terry's updated outlook sign up for the free webinar on Thursday, December 6 at 12.30pm on <a href="/news">Regions versus capital cities - where to invest in 2013?</a>
 
<hr class="system-pagebreak">
 
Most look in the wrong places. They read metropolitan newspapers with articles written primarily by non-experts with a focus on the wrong issues. 
Newspapers love printing lists of suburbs and towns which have shown the highest growth in median prices in the past 12 months – and misrepresent the figures as growth in property values, which they very often are not. 
For investors seeking the best places to buy, this is worthless information. At best, it tells you where you should have bought a year ago. For the purposes of this discussion I’ll overlook the many vagaries and anomalies inherent in median prices or alternative methodologies, which often lead to misinformation that sends investors down false trails. 
Investors need to seek out information sources that tell them about more relevant things than median price trends. Like where the new roads and rail links are being built, where new businesses are being generated, where mines and factories and power plants are being created. It’s all about infrastructure and jobs, which translate in short time into demand for real estate. 
Intelligent use of the internet makes it relatively easy, but it requires discipline. If you’re serious about property investment, you have to commit some time every day. 
Accumulate information. Gather knowledge. Learn which locations have growth economies. Notice which areas have proactive councils. Be among the first to know about new developments. Pick up on places set to benefit from new infrastructure. 
Gladstone, which has a massive future as an industrial muscle city, will continue to deliver growth for property buyers. But investors should be hunting for locations that look the way Gladstone did five years ago, before it started building three liquefied natural gas processing facilities. 
They won’t find them unless they develop the habit of gathering intelligence.
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 Terry's updated outlook sign up for the free webinar on Thursday, December 6 at 12.30pm on <a target="_blank" href="/news">Regions versus capital cities - where to invest in 2013?</a>
 
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terryryder-YECXbqmri2

How property investors can find the next Gladstone in 2013: Terry Ryder

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Liquidity-strapped mining magnate Nathan Tinkler is reportedly looking to dispose of a commercial property asset in Brisbane.
Boardwalk Investments, of which Tinkler is a director, intends listing a three storey office building at 366 Queen Street for sale, according to an report in the Australian Financial Review.
The report does not say which commercial agency has the listing.
It was purchased in February last year for $7.7 million having previously traded for $2.2 million in 2000 when Elizabeth and Gregory Nunn bought it from Macarthur Capital.
The property sits on a 379 square metre block and has 1,200 square metres of office space at the quieter end of Queen Street.
Local commercial agents do not expect the property to sell for more than $5 million.
In October, Tinkler reportedly let a <a href="https://www.propertyobserver.com.au/commercial/nathan-tinkler-lets-another-property-purchase-lapse/2012100957061">$37?million low-rise Brisbane office acquisition lapse</a> with the the 5,500-square-metre building overlooking the Brisbane River put back on the market through Jones Lang LaSalle agents Seb Turnbull and Geoff McIntyre.
The billionaire's finances – especially the Tinker-aligned developer Buildev Group – have been under scrutiny since his attempted $5.25 billion bid for Whitehaven Coal collapsed due to a lack of funding.
Tinkler reached a settlement with Mirvac’s Domaine Steel after it successfully sued Ocean Street Holdings and Tinkler’s Buildev Group, after an earlier agreement to buy industrial land for a new coal terminal in Newcastle. 
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Nathan Tinkler puts Brisbane CBD office on the market: report

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One of the most remarkable events in Australian development history is expected may begin some time next year: the construction of the largest wind farm in the southern hemisphere. 
The extraordinary thing about this is that it will take place in at least five different locations around Australia. 
The latest project claiming to be the largest wind farm in the southern hemisphere will take place on King Island off the coast of Tasmania. 
The largest ever will also be built just outside Broken Hill near the NSW-South Australia border. 
Curiously, the largest of all time will soon be completed in south-western Victoria. 
That won’t prevent the largest wind farm in the southern hemisphere from rising out of the ground in NSW near Goulburn. 
We can expect further announcements in 2014, with more new projects claiming to dwarf all others.
When it comes to wind farm development, you don’t let the facts get in the way of a good press release. Nor does it stop journalists from cheerfully repeating the “largest in the southern hemisphere” claims as fact. Why bother to check? They wouldn’t say it if it weren’t true, would they? 
Fortunately, wind farm developers don’t let mass hysteria get in the way either. There are few types of construction projects that have been blamed for a greater array of bizarre events than wind farms. 
It’s amazing how many people with dodgy mental health or suffering from sleeping disorders can find a wind turbine to blame. Cows have been known to lose the ability to give milk and chooks living within pecking distance of a wind farm steadfastly refuse to lay. 
Property values go into meltdown if subjected to the sight, sound or subliminal suggestion of a wind farm. County roads crumble in protest and lives are destroyed by the mere sight of them. 
It’s a lot to overcome and to make it harder, a couple of the more rabid state governments have bowed to yokel pressure and passed laws that are tantamount to banning them altogether. 
Coal-fired power station? No problem. 
Lead smelter? Knock yourself out. 
Uranium mine? How can we help? 
But an environmentally sustainable source of renewable energy? Everyone run for your lives! 
Thank god some companies are willing to persevere because, apart of the environmental side effects, wind farms create substantial economic benefits and can turn meandering property markets into hotspots. 
Two wind farms created in south-west Victoria by developer AGL (<a target="_blank" href="/news">Macarthur </a>and <a target="_blank" href="/news">Oaklands</a>) are claimed to have injected $67 million into the local economy, with close to 1,000 people employed during the construction phases, plus 52 ongoing jobs. 
The newly announced King Island project will cost around $2 billion and the construction of its 200 turbines will provide a desperately needed economic boost to struggling Tasmania. It is far from the being the largest in planning in Australia, but Tassie could certainly use the leg up this project will provide, including 500 construction jobs. 
Regional markets that have risen thanks, in part at least, to wind farm development include <a target="_blank" href="/news">Portland</a>, <a target="_blank" href="/news">Warrnambool </a>and <a target="_blank" href="/news">Goulburn</a>. Locations expected to be boosted by upcoming developments include <a target="_blank" href="/news">Broken Hill</a>, <a target="_blank" href="/news">Dubbo</a>, <a target="_parent" href="/news">Glen Innes</a>, <a target="_blank" href="/news">Ballarat </a>and <a target="_blank" href="/news">Kingaroy</a>. 
As an aside, a Senate committee last week found that noise from wind farms was no different from other noise, discounted claims of health impacts and declined to support calls for tougher planning regulations. 
So there’s hoping that the half dozen projects that share the title of largest south of the equator will happen and we’ll all benefit, apart from ultra-light sleepers, people who can hear silent dog whistles and owners of temperamental chickens.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
Sign up for Terry's free webinar on Thursday, December 6 at 12.30pm on <a target="_blank" href="/news">Regions versus capital cities - where to invest in 2013?</a>
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Yokel pressure and mass hysteria aside, wind farms turn meandering property markets into hotspots: Terry Ryder 

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The Sydney-based Iris Capital has bought the Mercure Potts Point – formerly the Crest Hotel – in Sydney’s Kings Cross, with plans for its eventual residential conversion.
Australand Property Group secured $65 million, with other buying interest reportedly from from Singapore-listed Hotel Grand Central and developers including Mirvac Group.
<img src="/images/stories/2012/12/cresthotel.jpg">
Iris joint managing director Sam Arnaout says Iris will redevelop the site given they view the sum of the property’s parts, worth more than the current hotel offering.
Iris is considering a mixed-use retail plus residential for the upper levels with the expectation of high purchaser demand. From 1995 Iris had had the strategy to acquire freehold venues in suburban Sydney with strong gaming revenues, solid retail trade and underlying land values. Its focus was mostly in Sydney's south-western residential corridors. 
After successfully building a portfolio of pubs valued at $350 million, in July 2007, with the introduction of smoking legislation and with yields at their peak, Iris sold all but two of its pubs.
<img src="/images/stories/2012/12/cresthotel2.jpg">
Conversion of Kings Cross hotel rooms to apartments has been a strong trend since the Sydney Olympics.
Between 2000 and 2002 conversion of mainly older hotels took 2,000-plus hotel rooms out of the market, mainly around the Kings Cross and inner-city fringe districts.
The hotels converted included well-known landmarks such as the Gazebo, Top of the Town, the Sebel Townhouse, Hampton Court, Oxford Koala, Chateau Hotel, the Rex and Madison's.
Iris plans to keep Accor on as hotel operator while it formulates its plans.
It has strong income from the ground-floor pub and its 30 gaming machines – one of the top-25 gaming pubs in NSW.
Over the past five years Iris has remodelled other hotels adding luxury units creating the Clovelly Hotel and Cove Apartments and the Hunters Hill Hotel and Maison Residences.
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Crest Hotel set to continue Kings Cross hotel residential conversion trend 

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In the project marketing environment location is a complex question that deserves considerable attention. Location will impact every aspect of marketing, from the practical issues of how will people find the project to selling the as-yet unrealised lifestyle offer.
I think that location is both an easily understood and yet at the same time a very complex issue. Long before a site is sold, developed and the first buyers move in there are many issues to address.
Over the next two weeks and with help from one of my associates, Shane Dargue from our residential development sites team, I will to take a detailed look at this topic. In particular what is driving demand in key pockets of demand and how sites are best taken to market. However, by way of an introduction I would like to publish some general thinking to kick off this topic.
Location
The location of an individual property is universally the most important factor influencing its market appeal; after all they even names a TV show after this real estate bellwether. However, in today’s world location can be influenced by external factors that are not directly tied up in the location itself, like transport and technology.
The appeal of a location relative to services and employment has always been important, but when it comes to high-density development it even more so. Also when you are marketing to a new community of buyers they will have different priorities depending upon their personal needs and circumstances.
On a very large scale the arrival and planning of a major development will itself have an impact will change how desirable a location is. As major cities including Sydney, Melbourne and Brisbane move to accommodate bigger populations, this is now a fairly common factor. Once unfashionable or even undesirable industrial locations can be transformed by the development and we will look at some examples.
As we will see location within the context of any major city is a factor that will have an overriding impact for any project that will be fundamental to its success.
How location is leveraged will always impact the sales results of any project. Success will be measured in the demand for the end product and the amount of time the development will take to sell, however carefully considering demand and the role of planning laws are also key factors.
To explore this topic of location further it is first necessary to look at each market (product type) to establish the big-picture and there are many aspects that will be common but also there are important variations which characteristic those same markets.
Conventionally the closer to the centre of cities the more demand there is for accommodation. However, infrastructure such as transport links and affordability have to be taken into account.
The result is that major new projects in any big metropolitan area share some common aspects of location, but as Shane highlights they are also influenced by other unique factors.
 
<hr class="system-pagebreak">
 
The pool of potential buyers
The pool of potential buyers is perhaps one of the most important elements in the project marketing mix; the pool of buyers clearly has an impact on the value of a development site, as the depth of the market is an essential element that will impact every level of activity and planning.
While the individual make-up of potential buyers for a location might in some cases overlap, there are always important and subtle differences. Buyers looking at inner-city apartments or well-located in-fill projects will have different motivations, as will owner-occupiers and investors.
Greenfield developments will generally tend to have much more wide-ranging appeal and offer more product choice and could be expected to attract a higher number of first-time buyers.
While it is necessary to draw this distinction the rules are not hard and fast, and detailed target audience analysis will always be required as the pool of potential buyers does shift and this in turn impacts how attractive potential development sites are.
In the-post GFC age the impact of tighter economic circumstances has also caused a shift in where developers are active in the housing market, and as might be expected the banks are also having a key influence.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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Location the most important consideration in a new residential development

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The Reserve Bank has cut the cash rate to 3%, which is its lowest setting since the GFC.
NAB, among those lenders to tip a December rate cut, now also expects a further 25 basis point rate cut next year, probably around May.
Lenders are expected to once again hold off passing on the full rate cut to borrowers, with about 20 out of the 25 basis points expected to be shaved from variable rates.
NAB and Bank of Queensland have already announced they will pass on 20 basis points to borrowers on December 10 and December 21 respectively, while ING Direct will pass on <a target="_blank" href="/news">all 25 basis points </a>from December 24. 
Fixed rates are likely to continue to fall as lenders seek to lock in borrowers and circumvent the government’s ban on mortgage exit fees.
These are the lowest advertised mortgage rates based on listings by <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a> and <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> as of December 5:
Lowest variable rate offerings:
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<tr>
<td width="134" valign="top">Mortgage View</td>
<td width="124" valign="top">Pro pack</td>
<td width="97" valign="top">5.42%</td>
<td width="116" valign="top">5.44%</td>
</tr>
<tr>
<td width="134" valign="top">
Loans.com.au
</td>
<td width="124" valign="top">
Blackboard special
</td>
<td width="97" valign="top">
5.42%
</td>
<td width="116" valign="top">
5.45%
</td>
</tr>
<tr>
<td width="134" valign="top">
My mortgage freedom.com.au
</td>
<td width="124" valign="top">
Low rate (LVR up to 75%)
</td>
<td width="97" valign="top">
5.43%
</td>
<td width="116" valign="top">
5.74%
</td>
</tr>
<tr>
<td width="134" valign="top">
UBank
</td>
<td width="124" valign="top">
UHome loan for refinancing
</td>
<td width="97" valign="top">
5.47%
</td>
<td width="116" valign="top">
5.47%
</td>
</tr>
<tr>
<td width="134" valign="top">
Nationwide Mortgage
</td>
<td width="124" valign="top">
True Saver home loan
</td>
<td width="97" valign="top">
5.47%
</td>
<td width="116" valign="top">
5.47%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><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">
My mortgage freedom.com.au
</td>
<td width="123" valign="top">
Fixed rate (LVR up to 75%)
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
5.78%
</td>
</tr>
<tr>
<td width="137" valign="top">
Community First Credit Union
</td>
<td width="123" valign="top">
Honeymoon
</td>
<td width="95" valign="top">
4.99%
</td>
<td width="114" valign="top">
6.46%
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank
</td>
<td width="123" valign="top">
UHome loan for refinancing – fixed rate
</td>
<td width="95" valign="top">
5.03%
</td>
<td width="114" valign="top">
5.54%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><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">Resi</td>
<td width="131" valign="top">Flexi Fixed Plus 75</td>
<td width="96" valign="top">5.09%</td>
<td width="111" valign="top">5.99%</td>
</tr>
<tr>
<td width="132" valign="top">
UBank
</td>
<td width="131" valign="top">
UHome loan for refinancing – fixed rate
</td>
<td width="96" valign="top">
5.13%
</td>
<td width="111" valign="top">
5.40%
</td>
</tr>
<tr>
<td width="132" valign="top">
Pacific Mortgage Group
</td>
<td width="131" valign="top">
PMG Fixed
</td>
<td width="96" valign="top">
5.19%
</td>
<td width="111" valign="top">
5.43%
</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.
For information on refinancing, watch our free webinar <a target="_blank" href="/news">Refinancing and the Interest Rates Riddle</a>
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A guide to the lowest rate home loan offerings fixed and variable as of December 5 as RBA cuts cash rate to 3%

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Why do people procrastinate when it comes to saving a deposit or investing in property? Intellectually, I suspect that most people know they should invest, but most people make very poor plans for their financial futures, if they even plan at all. 
Here are a few of the reasons why people delay investing: 
<ul>
<li>Fear of failure</li>
<li>They are impossibly disorganised</li>
<li>They are ‘doing fine’ without investing</li>
<li>Marital disagreements</li>
<li>People may feel too incompetent to invest</li>
<li>An inability to face serious issues </li>
<li>They ‘can’t afford to invest’.</li>
</ul>
Fear of failure
It is human nature to have a fear of the unknown, and for many people, investment is an unknown quantity. Many people are afraid of investing for fear of losing substantial amounts of money, or worse, being conned out of it. This is natural, as none of us wants to lose what we have worked hard for, or appear foolish.
The fear comes from a lack of clear understanding of the risks of investing. Fortunately, there are easy ways to begin investing in a low-risk manner with little or no risk of loss of capital. Then, as you learn more, you may begin to feel comfortable taking on more risk.
Impossibly disorganised
We probably all know people who are totally disorganised, seem incapable of arranging their affairs and never look at their bank statements.
They often appear to be busy or scatterbrained people with a short attention span and no appetite for detail. There can be any number of causes, such as stressful jobs, addictions or relationship problems, but these are habits that can potentially be ‘un-learned’ relatively quickly.
Generally, people are not keen to look at bills, credit card statements and bank statements because they fear that they will bring only bad news.
However, not looking at them will not improve the news they bring. The good news is that once you begin to take your finances more seriously, looking at bank statements and investment accounts automatically begins to bring you pleasure rather than pain.
 
<hr class="system-pagebreak">
 
‘Doing fine’
This is perhaps the most common thing I see in young professionals of today: an attitude that they don’t really need to invest because they are earning a good salary and intend to earn a higher salary in the future. I believe that this attitude partly comes from a misunderstanding of how wealth is created.
Many of us have been taught to work as hard as we can and earn the highest salary we can get, but the taxation system is loaded against us achieving wealth in this manner.
How many people do you know who spend every dollar they earn, and sometimes more? A fair few, I expect.
There is a dangerous tendency towards consumerism in the modern world. Too many of us believe that money should be earned and then spent on depreciating assets such as cars, big televisions and other toys.
While these items give the impression of wealth, they do not create wealth. Instead, they destroy it. Sometimes, it seems that people feel rich if they have a large amount of cash in their pocket. The problem with this is that cash in the pocket tends to get spent unwisely.
Marital disagreements
Money and finances cause a huge amount of tension in some marriages, particularly where spouses have different attitudes, risk profiles and priorities in life. When it comes to investing, it is certain that you and your spouse will have a different attitude to risk, because every person is different.
This can be problematic where one party has a very strong aversion to risk and the other is naturally a gambler or drawn to high-risk investments. The solution to this situation is to be open, discuss an agreed plan of action and stick to the agreed plan.
Feel too incompetent
This is related to the fear of failing, and the remedy is education. Generally, in life, people feel afraid or nervous when they do not know what they are doing. Therefore, by educating yourself, the fear and feelings of incompetence will diminish.
Inability to face serious issues
As we have noted, many people do not have a written will, and this is indicative of an unwillingness to confront serious issues such as financial welfare, retirement and death.
Many people, therefore, adopt an attitude of living for the day and relieving stress through impulsive spending, known as retail therapy. While there is a tendency for peers to admire such a carefree attitude, it is not smart to fail to plan for your future.
‘Can’t afford it’
There is sometimes a misconception that it takes a lot of money to start investing, but it definitely does not.
We can begin to make a difference to our finances today through cutting down on expenditure and saving a small pool of cash, perhaps in a separate bank account.
This is a good way to start – simply by reducing consumer debt and saving a small pool of funds. It really does not take much capital per month to begin an investment plan, so please do not be misled into believing that it does.
<img src="/images/stories/2012/12/wargentbook.jpg" style="margin: 5px; float: left;">
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/">Get a Financial Grip – a simple plan for financial freedom.</a>
 
 
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pwargent-M4siyDbqQY

Seven reasons why people procrastinate when investing in property: Pete Wargent

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Darwin dwelling prices have increased 11.7% in the year to date, as nationally dwelling prices were virtually at a standstill, recording a 0.1% decline.
The latest figures from RP Data-Rismark show Darwin is alone among Australian capitals, with Sydney the next best performer, with dwelling values increasing 2.5% in the past 11 months. 
Other capitals were more or less stagnant, with only Melbourne showing a decline over 1%. Melbourne dwelling values are down 3.3% for the year to date.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/12/rpdec33.gif" rel="shadowbox"><img src="/images/stories/2012/12/rpdec33thumb.gif"></a>
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