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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The Real Estate Institute of Australia says all first-home buyers should receive a first home-owners grant, not just people buying new homes.
REIA president Pamela Bennett says she is concerned by moves by New South Wales, Queensland and South Australia to limit the grant to first-home buyers purchasing new homes.
“Not only is this in breach of the InterGovernmental Agreement (IGA) but it ignores the evidence that 70% of first-home buyers have a clear preference for established houses.”
“The IGA clearly states that assistance to first-home buyers will be uniform and that an eligible home will be new or established.
“First-home buyers make up 17.7% of the market.  REIA strongly urges the Federal Treasurer, Wayne Swan, not to agree with the states’ requests for an amendment to the IGA and effectively ignore the needs of this considerable section of the buyer’s market.
“The socio-economic demographic of most first home buyers shows a clear preference to live close to existing facilities and work as opposed to buying in new housing estates.  Lifestyle, public transport and commuting are just a few of the factors concerning those entering the market.
“Furthermore, first home buyers of established homes often embark on a program of home-improvement and renovation, which helps stimulate the building sector.”
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REIA says all first-home buyers should get grants, not just those buying new homes

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Big four bank ANZ reported a strong rise in both annual profits and mortgage lending but has warned of a tougher operating environment moving forward with funding costs rising.
The bank reported a 6% rise in annual profits to $5.7 billion with its mortgage book growing by 7% from $170 billion to $182 billion – well above system growth of under 5%.
ANZ also reported a 12 basis point drop in net interest margins over the year to September 30 for its Australian business reflecting “increased funding costs in particular from deposits", as well as asset pricing pressure in its institutional banking division.
ANZ chief executive officer Mike Smith said its Australian retail banking division (which includes mortgage lending) had “performed well across all segments”
“With the global economy softening, it’s clear that the post-GFC lower growth business environment will be with us for the foreseeable future, as will the requirement to operate with higher levels of regulatory capital and higher funding and liquidity costs.
“Although the operating environment in 2013 looks more challenging with stronger headwinds in a number of areas, our unique growth strategy and the momentum we have in adapting to the new environment means we are well placed to deliver value and performance to shareholders in 2013,” he added.
The quality of ANZ’s mortgage book remained strong with mortgage delinquencies continuing to decline across all bands (30, 60 and 90 days in arrears) “however softening economic conditions, particularly in regional Australia, drove increased provision charges”.
The bank grew its deposits base by 12% over the year with customer funding comprises 61% of total funding, with ANZ reducing its reliance on wholesale funding.
“ANZ continues to have the lowest wholesale funding requirement of its domestic peers," said Smith.
Shareholders will receive a total dividend for 2012 of $1.45 per share.
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ANZ reports strong mortgage growth and annual profits of $5.7 billion but warns of “stronger headwinds” in 2013

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Nearly one year after Age journalist Chris Vedelago lodged a freedom of information request with the Foreign Investment Review Board, <a target="_blank" href="https://theage.domain.com.au/home-investor-centre/blogs/domain-investor-centre-blog/foreign-investment-dont-ask-dont-tell-dont-know-20121020-27yk7">his questions remain unanswered</a>.
<a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/chrisvedelago/status/260973191361601536"><img src="/images/stories/2012/10/vadelagotweet.jpg"></a>
His November 2011 application sought information on the board’s monitoring and compliance activities involving temporary residents — how many had applied, been approved to buy, and what investigations had been conducted or penalties levied for violations of the law.
The board finally released some documents though in a heavily redacted form.
Vedelago says the documents show the regulator “has either woefully failed to do its job or is abusing the FOI system”.
The documents show the board had not engaged in any compliance activities relating to temporary residents, despite 2010 announcements the board would clamp down on the activities of temporary residents.
He says the blank record is either due to incompetence or dishonesty from the board.
Vedelago has applied to the Australian Information Commissioner for a review of the decision.
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Age journo Chris Vedelago still waiting for full FIRB response after a year: Tweet of the day

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Industry super fund AustralianSuper plans to more than double its investments in commercial property over the next five years, according to chairwoman Elana Rubin.
According to its most recent annual results to June 30, Australia’s biggest industry super fund has $4.54 billion invested in direct property through unlisted property trusts up from $4.17 billion in the previous financial year.
In speech to the Israel Australia Chamber of Commerce luncheon reported by the Australian Financial Review, Rubin said the super fund would look to invest in large, top-end shopping centres and also build on its portfolio of CBD offices and other commercial assets.
Rubin expects there to be greater competition from other super funds and institutional investors for premium commercial properties as well as a move to invest directly in assets rather than as passive investors in “pooled vehicles”.
She also expects AustralianSuper to increase its exposure to overseas commercial property assets from just 3% of its portfolio to 20% as competition heats up for local commercial core properties.
In its annual report, AustralianSuper says super members have the option to invest directly in a “range of Australian and international properties, including office buildings, shopping centres, hotels, resorts, factories and warehouses”.
“It’s designed for members seeking strong medium to long-term capital growth and lower volatility than shares”.
The annual report says AustralianSuper’s investments in infrastructure and direct property “continue to provide diversification benefits and to sustain strong long-term returns”.
“Our diversified strategy helped to reduce the impact of poorly performing share markets.”
More than half of AustralianSuper’s property investments are in the ISPT Core Fund, which holds 78 office, industrial and retail assets, including 500 Bourke Street in Melbourne, 363 George Street in Sydney and Central Plaza One on Queen Street in Brisbane.
AustralianSuper has $46 billion under management and 1.9 million members.</body></html>

AustralianSuper to double commercial property investments as part of diversification play

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The head of the Reserve Bank of Australia's financial stability department, Luci Ellis, has said it would be a "mistake" to assume the main risk to the health of a financial system came from housing markets.
The senior RBA official says housing markets are not the biggest threat to financial stability, despite the international turmoil that has triggered property crashes across the world.
Noting commentary that Australia could be vunerable she suggested commercial property markets were more likely to threaten financial stability than residential property or the sharemarket.
"Let me be clear: risks from housing markets are not zero, and never will be," she said in a speech to the CPA Australia Finance and Accounting Expo 2012 in Sydney yesterday.
"But commercial real estate or property developers are still more likely to pose risks to a financial system, and through it to the real economy," Dr Ellis said, in comments that were not confined to Australia.
The nation's banks were holding about $8 billion in impaired loans in the sector in the June quarter, the Reserve's latest Financial Stability Review found.
Ellis made the remarks in a speech arguing that when looking for lessons from the global financial crisis, it was important not to come to "mistaken conclusions".
"We also had yet another iteration of the old lesson that property market dynamics can drive episodes of financial instability.
"Ten years ago, the global debate about whether monetary policy should respond to asset prices was rather unhelpfully focused on equity markets, which at the time did not have the kind of leverage that is the nub of the problem.
"The crisis has shown that property markets are usually more relevant to financial stability.
"These markets have the boom–bust dynamics and leverage needed to turn an asset price downturn into a financial crisis."
Along with her commentary on residential and commercial markets, Ellis argued against simplistic metrics to gauge the health of a banking system. 
She said it was "misleading" to focus too much on loan-to-deposit ratios – which are relatively high for Australian banks, at more than 120%.
"If you see a bank with a very low level of this ratio, well below 100%, ask yourself what the bank is doing with that deposit funding instead," Ellis said.
"They are investing it in securities and other kinds of investment. And as we saw in the crisis, those securities can often be far riskier than regular lending."
With banks being forced to hold more top-tier capital under new global rules to make the sector more resilient, Ellis also said regulators could not afford to assume highly capitalised banks would necessarily be safer.
 
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jchancellor-FAypfDUnLy

Commercial property more vunerable to boom-bust than residential: RBA's Luci Ellis 

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There were just 239 sales of vacant residential land and house-and-land packages on the Gold Coast over the September quarter, according to the latest Prodap report.
Of these 239 sales, 56 were house-and-land packages, with vacant lot sales totalling 183.
Report author Bill Morris says the Gold Coast residential land market continues to under-perform, though there are some exceptions, with developer Sunland finding a niche market for its architect-designed homes.
“The real standout was Sunland Group’s four projects at The Glades (Robina), Gardene at Pacific Pines, The Concourse at Royal Pines (Benowa), and The Address at Sanctuary Cove had all but sold out its available stock, with more to be released with strong pre-sales,” says Morris.
<img src="/images/stories/2012/10/glades.jpg">
“Sunland Group is operating in the mid-price range of $700,000 to $1.1 million for quality three- and four-bedroom products, mainly on golf course frontages."
The other developer to manage reasonable sales was Stockland, which recorded 75 sales on its three land estates at Ormeau Ridge (35), Highland Reserve Upper Coomera (25), and Riverstone Crossing Upper Coomera (15).
Mirvac managed 15 land sales at its Gainsborough Greens development in Pimpama, with prices ranging from $215,000 to $400,000.
Gilston Developments sold 12 townhouses at auction at its Grand Manor estate at the Grand Golf Course, with prices ranging from $595,000 to $1,625,000.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/prodap.jpg"><img src="/images/stories/2012/10/prodapthumb.jpg"></a>
“Vacant land sales continue to hover under 200 per quarter with no sign of improvement,” notes the report, which is based on a survey of every active and passive developer of residential land, house-and-land packages, townhouses and villas on the Gold Coast.
This brings total sales to 1,001 lots and house-and-land packages sold over the past 12 months to September – the lowest volume of annualised sales for records going back to 1985.
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Despite the record low land sales, the number of lots and house-and-land packages available for purchase remain at historical low levels, with few new projects being launched.
There are currently just 818 lots and 388 new houses up for sale representing one year’s supply at current take-up rates.
While stock is not rising, Morris says residential rents are increasing at 6% per annum south of Broadbeach for four-bedroom houses, with the market "virtually unserviced for new stock", except for Stockland’s Observatory land project at Reedy Creek in West Burleigh.
The report notes there is a pipeline of planned projects comprising 2,848 lots, but Morris says this is “unrealistically positive”, running at three times the current annual sales rate.
Morris says low demand rather than over-supply is the main problem – the result of restrictive bank lending policies.
Other problems facing the Gold Coast new housing market are record low population growth prohibitive local council infrastructure and charges, which are only new being “re-formulated”.
The Gold Coast City Council resolved to impose on a 12-month moratorium on infrastructure charges, which will save developers $28,000 per detached house and $20,000 per one- or two-bedroom apartment.
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Sunland boutique projects find niche market but Gold Coast house-and-land sales slump to 27-year low

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Brisbane ended a run of eight consecutive quarters of house price declines as capital city house prices barely moved in the September quarter, according to the latest data from Australian Property Monitors (APM).
The median Brisbane house price was almost unchanged at $430,965 over the September quarter, though still down 1.2% year-on-year.
APM revised the Brisbane June 2012 figure upwards from a previously reported $427,933 to $430,844.
APM senior economist Dr Andrew Wilson called the steady result for Brisbane “encouraging” and a “positive indication the market may have finally bottomed out".
Across the country, the national median house price was also unchanged at $533,480, while unit prices declined by 1.1% to a median of $406,415.
This followed revisions to June 2012 figures with house prices revised down from $536,075 to $533,695 and unit prices revised down from $411,810 to $410,981.
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“Although buyer activity and prices growth appears to be generally consolidating, capital city markets and sub-markets continue to operate at different levels,” says Wilson.
The Melbourne unit market remains the weakest capital city market for both house and units, down 6.1% year-on-year.
It registered a 1.4% drop over the September quarter – the sixth consecutive quarterly fall – taking the median Melbourne unit price down a median of $381,154.
This follows APM revised the  June median Melbourne unit price down from $392,862 to $386,678.
On average, a Melbourne apartment is $24,000 cheaper to buy now that it was a year ago.
Wilson attributed the continued to decline of Melbourne unit prices to a “surplus of new supply in the marketplace” negating an increase in activity from first-home buyers.
At the other end of the spectrum Darwin units were the best performing market across both house and units, with the median price of a Darwin apartment rising by more than $30,000 (8.1%) over the three month period to a median of $406,099.
This followed revisions to the Darwin median house price in June revised down from $384,384 to $375,666.
Apart from the drop in Melbourne unit prices and strength in Darwin unit prices, the September quarter results show that both house and unit prices have essentially been treading water over the past 12 months.
 
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The strongest major capital city market over the past 12 months to September has been Perth, with house prices up 1.3% to a median $537,267, followed by Sydney, where house prices are up 1% year-on-year to a median of $641,890.
Melbourne registered a 0.8% rise in its median house price over the September quarter to $523,804 to leave prices down 0.8% year-on-year.
These figures were calculated based on APM revisions to previous June medians for Sydney (revised up from $642,425 to $644,191), Perth (revised up from $536,151 to $539,823) and Melbourne (revised down from $531,167 to $519,503).
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Among the smaller capital city housing markets, Darwin has been the standout with houses up 3% year-on-year to $610,592.
Hobart remains the weakest housing market, with a 2% decline over the September quarter and 4.7% drop year-on-year to a median of $305,889.
Overall, Wilson says that capital city housing markets continue to “edge their way through a tentative recovery following the downward correction of 2011”.
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However, the housing market remains “mixed and patchy”, with individual housing market prospects for the remainder of 2012 “dependant on the performance of local economies”.
“Although falling interest rates have improved housing affordability and buyer confidence, market growth has been driven largely by other local factors, including changes to buyer incentives, population growth, and value-buying momentum in some prestige markets.
“Given a reasonable economic performance over the remainder of 2012, housing markets will continue to generally find their feet, albeit at varying levels of activity,” Wilson says.
House prices are forecast to increase in Sydney, Perth, Darwin with Melbourne prices to remain relatively steady.
“The Brisbane market is poised for growth, particularly from rising inner-suburban demand, however the recent increase in the unemployment rate could have an impact.
“In Adelaide, the market will likely track sideways, and there are no clear signals that sustained house prices growth is set to return to Hobart,” says Wilson.
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Brisbane house prices hold firm for first time in two years as national housing market 'consolidates': APM

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The Reserve Bank is likely to cut the cash rate only once more – either in November or December – but that could be it for the current monetary policy easing cycle, according to HSBC chief economist Paul Bloxham.
Most economists (23 out of 27 polled by Bloomberg) are tipping a rate cut on Melbourne Cup Day.
Bloxham says the release of third-quarter CPI data shows that inflation is now trending up, giving the RBA “less room to move on rates”.
Examining yesterday's inflation data, Bloxham says it indicates that inflation has passed the low point.
Bloxham says the ABS data shows that Australia inflation jumped in the third quarter, “partly due to the introduction of the carbon tax which boosted the headline figure to 2% year-on-year” above HSBC forecasts of 1.9% and market expectations of 1.6%.
“Looking at the various measures, it appears inflation may have passed its trough and while we still expect another RBA cut by year-end, we think this could be the last this easing cycle.”
“The RBA has said it will look through the third quarter result, much like it did when the GST was introduced in 2000.
“However, with the prospects of inflation already on the up and with the RBA already having cut rates by 150 basis points we think that they may have less room to move on rates now,” says Bloxham.
Bloxham also points that in annual terms, inflationary pressures are strongest in the major categories of health (+7.2%), education (+6.1%) and housing (+4.7%), which was partly offset by declines in recreation and culture (-1.5%) and food and beverages (-1.1%).
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Rising inflation could mean just one more RBA rate cut: HSBC’s Paul Bloxham

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While many home buyers might be reluctant to pay lenders mortgage insurance (LMI) to achieve their property goals, it can be a useful tool in the current buyer’s market.
It’s not a black and white argument that LMI should always be avoided.
LMI insures your lender should you default on your home loan and is generally required if you borrow more than 80% of the value of a property. While it protects the lender if you stop making your mortgage payments, LMI also makes it possible for purchasers to buy a home with a deposit of less than 20%.
LMI involves paying a once-off fee to the lender, with the amount varying depending on the amount borrowed and the size of your deposit. You can pay the fee up-front or add it to the total loan amount.
While it’s generally preferable to have a 20% deposit for the purchase of a property, it’s not always possible to do so, particularly for first-home buyers.
It may be that LMI provides people with the ability to capitalise on some of the good buying opportunities that are currently available and get their first foot on the property ladder, rather than having to spend several more years renting and trying to save.
The key is to ensure that if you do take out LMI that you’re buying well and are prepared to stay in the property long-term to benefit from capital growth.
Take the example of a couple looking to purchase a property valued at $400,000 that last sold for $450,000 several years ago but has dropped in price due to the declining market.
To date they have saved $40,000 – $40,000 short of the $80,000 they need to have a 20% deposit and avoid paying LMI.
They are currently paying $380 a week in rent and saving an additional $200 a week. Saving $200 a week would mean it would take them just under four years to save up the additional $40,000 to have the full 20% deposit.
If they looked to purchase this property now with their current $40,000 used for the deposit and associated buying costs it would mean that they would need to borrow 94% and pay an LMI premium of $11,000.
In that same time period (four years), having bought the house now, the $580 a week in rent and savings would have seen them build up $50,000 equity in their own home (assuming a property growth rate of 3% a year).
In this scenario, while they have incurred an LMI premium of $11,000, it has allowed them to build up equity in their own home of $50,000.
This is a financially positive outcome and also has allowed them to have the satisfaction and security of buying their own home – for a good price – which they can then leverage off in the coming years to further build their wealth.
If you’re unsure whether to buy now or perhaps wait longer to save more of a deposit, an experienced mortgage adviser will be able to run the calculations for you and give you some advice based on your individual situation.
It might be that in some instances it’s better to delay your property purchasing plans for a while longer rather than buying now and paying LMI.
Talk with your mortgage adviser as a priority so they can advise you on the best course of action.
Graeme Inglis is an adviser at <a target="_blank" href="https://www.smartline.com.au/">Smartline Home Loans Group</a>
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When you should pay lenders mortgage insurance

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The second episode of the latest Grand Designs Australia airs tonight with a Californian bungalow being replaced by a sculptural, Japanese style all-timber house.
Hosted by Peter Maddison, <a href="https://www.lifestyle.com.au/granddesigns/series-3/episode-2-hampton-timber.aspx" target="_blank">Grand Designs Australia l</a>ooks at the residential project in the Melbourne suburb of <a href="/news">Hampton</a>.
The elaborate design project is undertaken by self-builders Jenny and Brett. The four-bedroom home gets a wrap-around lap pool with decking that hugs the back of house.
Its master bedroom is located on the second floor.
The origami-influenced structure is clad in spotted gum. 
Their dedication ensures the challenging rebuild triumphs despite the challenges.
In last week's episode showed a couple in Victoria’s <a href="/news">Mansfield</a> turn their vision of an indoor/outdoor lifestyle into a home.
Grand Designs Australia airs on the Lifestyle channel at 8:30pm.
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