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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Everyone knows how much their home is worth. Don’t they?
It’s the conversation that can strike fear into the heart of even the most experienced real estate agent. A person’s home is often his absolute pride and joy. Often it has been home to wonderful family memories or the blood, sweat and tears that were poured into those stunning renovations. Then you throw the ever-discerning buyer into the mix. She has hunted the open-home trail for months, researched her preferred suburbs and compared homes upon homes. Ultimately, it is these people who will determine what your home is really worth.
So when it comes time for an agent to have the price-setting conversation with a seller, the reality of the market conditions can come as, well, a rude shock. It is often the case that the seller is sporting a lovely pair of rose-coloured glasses. What is a castle in his eyes could be – for lack of a better term – a shack in the eyes of the buyer.
When deciding how to price your property, there is often a disparity between what the seller expects and what the market is offering.
Here are a few key tips to help you through the price-setting process:
<ul>
<li>Setting a realistic price will ensure you obtain your asking price and also conclude the sale promptly;</li>
<li>Sellers who set a too high price on their homes can seriously damage their prospects for a quick sale;</li>
<li>Facts and figures show that an overpriced property discourages serious buyers. When it remains on the market too long it redirects interest to more realistically priced properties;</li>
<li>Emotional attachment and pricey renovations often drive sellers to push the price up – and understandably so. However, unfortunately the state of the property market won’t always reflect personal circumstances; and</li>
<li>Do your homework! Be sure to research the property market in your area and seek the opinion of a professional from a REIQ-accredited agency in Queensland, or other REIA-accredited agency.</li>
</ul>
A good start is an appraisal – an inspection to estimate the sale price of a property. An agent will appraise your property at no charge if you ask.
This is not a “pluck a figure from the air” kind of appraisal. Under the Property Agents and Motor Dealers Act, if you request the agent to provide a market appraisal on your home, the agent will provide a comparative market analysis (CMA) or written statement for your property.
The criterion for a CMA is comparing three properties of similar standard and style sold within a five-kilometre radius in the last six months. If an agent is not able to provide a CMA due to lack of comparable sales within your area, he must supply you with a written statement outlining how he arrived at the suggested market price of your home.
From the CMA or written statement, and taking into account the current property market, sellers will have formed a foundation from which to set a realistic selling price for the home.
In any market conditions, establishing a realistic price when selling your home is important, however, it is even more important when there are more sellers than buyers in the marketplace. After all, being an educated seller – sans rose-coloured glasses – can make the selling process much more efficient for all involved.
Amanda Haack is events manager journal deputy editor at the <a target="_blank" href="https://www.reiq.com/">Real Estate Institute of Queensland</a>. This article originally appeared on the<a target="_blank" href="https://reiqblog.com/"> REIQ blog.</a>
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ahaack-6499LRWKce

How much is your house really worth?

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The 1920s house Bellarine, at 29-31 Deepdene Road, Deepdene, was the week's top sale at auction for $4.55 million according to RP Data.
{yoogallery src=[images/stories/2012/10/oct24deepdene]}
<div></div>
Four parties bid for the property placed on the market at $4.05 million.
The gardens with a circular driveway have a north-south synthetic tennis court and solar-heated in-ground pool.
The home features a wide parquetry entrance hall, gracious formal living and dining rooms, plus library and study.
There are five upstairs bedrooms.
At its 1995 auction it was passed in at $918,000 and later sold for $935,000.
A Mosman sale was the week's next highest sale.  
1. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/29_deepdene_road_balwyn_vic_3103/9556888">29 Deepdene Road, Balwyn, VIC, 3103</a>, five-bedroom house, sold at auction on October 20 by Marshall White Real Estate Armadale for $4.55 million
2. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/28_kardinia_road_mosman_nsw_2088/4487256">28 Kardinia Road, Mosman, NSW, 2088</a>, four-bedroom house, sold on October 16 by Sullivan Real Estate Mosman for $4.1 million
3. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/57_alexandra_avenue_canterbury_vic_3126/10253108">57 Alexandra Avenue, Canterbury, VIC, 3126</a>, four-bedroom house, sold at auction on October 20 by Marshall White Real Estate Armadale for $2.51 million
4. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/38_brook_street_coogee_nsw_2034/1927211">38 Brook Street, Coogee, NSW, 2034</a>, four-bedroom house, sold at auction on October 20 by Bickmore Hutt Realty for $2.05 million
5. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/9_campbell_avenue_paddington_nsw_2021/5262892">9 Campbell Avenue, Paddington, NSW, 2021</a>, three-bedroom house, sold prior to auction on October 20 by Bresic Whitney Estate Agents for $2 million
6. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/30_midshipman_court_surfers_paradise_qld_4217/7701978">30 Midshipman Court, Paradise Waters, QLD, 4217</a>, four-bedroom house, sold on October 16 by McGrath Estate Agents for $2 million
7. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/40_gerda_road_macmasters_beach_nsw_2251/3908972">40 Gerda Road, Macmasters Beach, NSW, 2251</a>, two-bedroom house, sold at auction on October 20 by McGrath Estate Agents for $1.95 million
8. 48 The Boulevard, Balwyn North, VIC, 3104, four-bedroom house, sold at auction on October 20 by Fletchers Real Estate Balwyn North for $1.82 million
9. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/45_smith_street_rozelle_nsw_2039/5987672">45 Smith Street, Rozelle, NSW, 2039</a>, four-bedroom house, sold at auction on October 20 by Helen Rowland Real Estate for $1.82 million
10. <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property-overview/3_rentoul_avenue_netherby_sa_5062/10162622">3 Rentoul Avenue, Netherby, SA, 5062</a>, four-bedroom house, sold prior to auction on October 20 by Toop &amp; Toop Real Estate Norwood for $1.75 million
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jchancellor-FAypfDUnLy

Bellarine, at Deepdene, leads top 10 sales of the week: RP Data

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The iconic Darrell Lea Chocolate shop on the corner of George Street and King Street in the Sydney CBD has been leased on a short-term basis by a City Convenience Store.
The store, which forms part of what was once the Belfields Hotel (dating back to at least 1910) was bought by Darrell Lea in 1957 and was the flagship store for 55 years.
City Convenience Stores were started by Lebanese immigrant Jamal Gebara in 1996 and according to its website, now operates 180 such stores across Australia.
<img src="/images/stories/2012/10/darrell3.jpg">
The convenience store is occupying the site on a rolling month-by-month basis while a longer-term tenant is sought for both the former chocolate shop premises and a second shop, which is leased to fashion accessories chain Diva.
Telstra has a store two down from Darrell Lea, and Property Observer understands it has sub-leased the neighbouring store to Diva in a defensive move to prevent another telco company from leasing space next to it.
<img src="/images/stories/2012/10/darrell1.jpg">
The mezzanine level of the building is currently rented to a photography store.
According to industry sources, the combined 100 square metre space leased currently by City Convenience and Diva is being marketed as one space with a long-term leasing deal imminent.
The distinctive cream corner building is covered with Darrell Lea insignia and ornamental decorative mouldings and gables.
It is owned by the Darrel Lea family but is not subject to the recent collapse of the confectionery business.
Darrell Lea collapsed earlier this year and <a target="_blank" href="https://www.propertyobserver.com.au/retail/quinn-family-explain-their-decision-to-buy-darrell-lea-and-close-stores/2012090456399">was sold to the Quinn family in September</a>. All the remaining Darrell Lea stores ceased trading on September 9.
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lschlesinger-FZcF9M3vE6

Convenience store temporarily takes up historic Darrell Lea space on Sydney’s George Street

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Community First Credit Union has joined the Greater Building Society by offering a one-year fixed home loan interest rate of 4.99% per annum effective today (October 24).
The credit union has cut its introductory one-year fixed home loan interest rate by 56 basis points, more than double the 25-point cut by the RBA on October 2.
Unlike the <a href="/news">Greater Building Society</a>, the 4.99% rate is not part of packaged rate offering, a point stressed by John Tancevski, chief executive officer of Community First.
“The best thing about this rate is that it is not part of a package with an annual fee," he says.
Tancevski says the credit union is able to offer the 4.99% rate because it is a "mutual organisation, owned by members, who also happen to be its customers".
Community First bills itself as the largest community based credit union and has been operating since 1959, with 11 branches in Sydney and on the central coast.
It has 76,000 members.
“Unlike our competitors, we don’t have the pressure to deliver large profits to pay dividends on shares to investors.  Our benefits are passed directly onto our members,” he says.
The credit union also offers a First Home Buyer Headstart loan, which provides a $2,000 cash bonus to first-home buyers who take out a Community First variable rate home loan.
Though NSW-based, Community First home loans are available to borrowers outside of the state.
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Community First Credit Union becomes second lender to offer sub-5% one-year fixed home loan

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It's been likened to a giant, airborne Meccano construction.
High above Central Park, on Sydney’s Broadway, massive steel supports have been lifted 100 metres into the air to start work on a quite monumental cantilever that will protrude from the side of the One Central Park apartment block.
The cantilever will extend 42 metres from the facade of the residential tower and will carry a private sky garden with plunge pool along with an outdoor dining space for residents.
{qtube vid:=On8I5WEJd7c&amp;list=HL1350516970&amp;feature=mh_lolz}
The cantilever will also support a heliostat frame carrying 320 large mirrored panels, which will redirect sunlight across the former brewery precinct.
The mirrored panels each have nine LED coloured lights set into them, which are programmed to deliver a major public artwork designed by Danish lighting artist Yann Kersale.
Construction is part of the $2 billion Central Park precinct by joint venture developers Frasers Property Australia and Sekisui House Australia to a design overseen by Jean Nouvel.
<img src="/images/stories/2012/10/cantilever.jpg">
Watpac Construction lifted the first steel truss into position on level 28 of One Central Park’s East tower earlier this month.
Frasers Property Australia Project Director Mick Caddey says it will take three months to build the structural supports and shell of the cantilevered structure.
“This involves lifting all of the structural steelwork into place. There are four 90-tonne steel trusses that lay the length of the floor plates, each measuring 46 metres and extending 18 metres from the face of the building – the trusses are two storeys (or six metres) high,” Caddey says.
“The construction team will then continue pouring concrete to construct the upper floors from levels 30-34 and finally prepare for the highly complex engineering feat of lifting the 110-tonne heliostat reflector frame into position, affixed to the base of the cantilever.”
It will be the largest-spanned cantilevered structure to be built off a high-rise residential development in Australia, requiring the world’s largest capacity tower crane, a FAVCO M2480D supplied by Marrs Contracting and nicknamed ‘Tinkerbell’, brought specifically to the <a href="/news">Chippendale </a>site for the task.
Tinkerbell usually works on mining sites in Western Australia and the Middle East.
Watpac Construction NSW State Manager Ric Wang says the steel structure weighs in excess of 600 tonnes, including the 110-tonne structural steel frame to support the mirrors on the heliostat.
The steel trusses were fabricated in Adelaide, transported to Sydney and have been assembled on site over the last two month at ground level “rather like a large-scale, intricate Meccano set”, according to Mick Caddey.
The cantilever defines the location of Central Park’s most exclusive property offering – the Sky at One Central Park.
Comprising five levels above the cantilever, Sky will have just 38 penthouse and sub-penthouse apartments.
They will range in size from 120 to 200 square metres.
Prices have yet to be finalised, but are estimated at between $1.4 million and $2.6 million when released in coming weeks.
Completion is expected in late 2013.
The <a href="https://www.centralparksydney.com" target="_blank">display pavilion</a> is at 80 Broadway Chippendale.
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Work begins on Australia's largest cantilever on One Central Park tower

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The banks have come under attack for their unwillingness to finance the development of new residential projects in Sydney and are potentially holding back the recovery of the new housing market, says BIS Shrapnel managing director Robert Mellor.
Speaking at the recent QBE LMI Housing Outlook breakfast, Mellor said developers had been telling BIS Shrapnel that a more favourable planning attitude had been adopted by the O’Farrell state government, ahead of changes to the planning regime next year.
“We are hearing from developers that the state government has changed its attitude significantly.
“The sorts of comments I am hearing is that the government is far more accommodative even without the new regime in place and that’s a favourable thing for new construction,” said Mellor.
But he said the most important thing needed to stimulate a recovery was “the banks freeing up their attitude to lending practices”.
“My personal view is that banks are being very tough on developers and very tough on individual borrowers.
“There is this perception [among the banks] that housing could still fall through the floor like it has done in other parts of the world
“They need to realise that everything has been thrown at this sector over the last three to four years – it will be nine years since the boom ended coming up this Christmas.
“You can’t talk about prices being massively overvalued when we have seen significant correction in prices, and in real terms they have declined around 12%.”
Mellor says while it is more still relatively more expensive to build in Sydney, there will be a recovery in construction on Sydney fringes.
However, he says the substantial recovery will need to come in medium density and high density construction because the old days of relying on owner occupiers building new houses are over
“You need investors.
“We have a favourable regime, but the problem is if banks take a negative attitude on that, then it will be held back
“If that’s the case there is the risk of asset price inflation – you need more supply.
“The banks have a part to play in that, whether it's funding fringe development or supporting high-rise development.
“People need to realise there is no oversupply risk and no collapse about to come.”
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Banks refusing to play ball on residential projects holding back Sydney new home construction: BIS Shrapnel

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Not that long ago, the office market as a whole was progressing well, right around <country-region>Australia</country-region>.
However, following the GFC, each local suburban market has been recovering at a different pace.
<city>Perth</city> rebounded rather dramatically, once the mining sector started to pick up again. And yet it has suddenly plateaued while mining currently takes a breather.
According to recent research by Colliers International, Sydney's suburban office market seems reasonably balanced – with its vacancy levels ranging from 5.1% in<a href="/news"> Homebush</a> to 8.7% in <a href="/news">Parramatta</a> – with the exception of <a href="/news">St Leonards</a>/<a href="/news">Crows Nest</a> (at 10.7%), and Norwest (at 15.1%).
But with continued tenant demand and a lack of supply, you should see vacancies decline sharply in 2013.
On the other hand, <city>Melbourne</city> seems to be currently enjoying a tighter range, from 4.9% in the south-east to 7.9% in the outer east. And even though some 32,000 square metres of space is under construction, about 70% of this is already spoken for.
At the moment, <city>Brisbane</city> is showing a vacancy range from 6.4% in the inner south to 11.1% in Spring Hill. Overall, the <place>Brisbane</place> suburban market sits at around an 8.5% vacancy rate, which is up from its "unbalanced" level of 2% in January 2008.
The <city>Adelaide</city> market is much smaller than other capital cities and can often slip under the radar.
Rentals here have been increasing through strong tenant demand, and a current lack of new space coming on stream. As such, vacancy levels are likely to fall below 5% during 2013.
Markets within markets
While this brief analysis provides you with a quick "helicopter view" of the suburban office markets in the various capital cities, you really need to focus more on the specific suburban regions within each city.
This will mean going back in time as well as studying the projections looking forward.
By way of example: Let's dig a little deeper within the <city>Melbourne</city> market — where from this graph, you can observe the movement in vacancy levels over the past year or so.
<img src="/images/stories/2012/10/langoct22.gif">Clearly, the south-east region has been consistently outperforming the others. And this is expected to remain the case for the foreseeable future – which would tend to make this particular region your preferred choice.
Bottom line: You can't simply rely upon the general health of a particular capital city market as the sole basis for making your decision.
It is important to peel back the layers and delve below the surface to reveal the underlying trends and ensure you have some real substance to justify your intended purchase.
And having that local knowledge will go a long way.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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chrislang-EQKojcgJPV

Investing in office property requires knowledge of the local market

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ISPT’s 50 Lonsdale Street Property Trust has been the best-performing unlisted property trust over the past 12 months to September 2012, according to Mercer/IPD Australia Monthly Property Fund Index.
The trust, which holds the Urban Workshop, a 69,000-square-metre A-grade commercial building, delivered investors a return of 12.8% over the last 12 months, compared with an average annual distribution yield for the wholesale core property sector as at September 2012 of 6%.
Designed by John Wardle Architects, Hassell and NH Architecture and developed by ISPT, the Urban Workshop was constructed in 2006 and stands in the parliamentary precinct of Melbourne's CBD on Lonsdale Street.
It comprises ground-level foyer and coffee shop, 33 levels of office accommodation, five levels of basement parking and a leisure centre.
It adjoins the Madam Brussels Lane retail precinct, named after notorious Melbourne brothel owner Madame Brussels, who opened her first establishment at 8 Lonsdale Street in the late 1880s and ended up owning eight brothels in the district.
Following construction the Urban Workshop won numerous awards, including the 2006 Royal Australian Institute of Architects Victorian Chapter Sir Osborn McCutcheon Award for Commercial Architecture; the Marion Mahony Award for Interior Architecture; and the Joseph Reed  Award for Urban Design and The Melbourne Prize.
It has a 4 ½-star NABERS energy rating.
The building was valued at around $400 million as of September 30 2012 and is currently 100% leased, with tenants including Telstra, superannuation administrator Superpartners and accounting firm GMK Partners.
The chart below shows the top performance of the ISPT 50 Lonsdale Street Property Trust as well as the wide spread of returns across funds, ranging from 4.9% to 12.8% over the last 12 months.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/ispt.gif"><img src="/images/stories/2012/10/isptthumb.gif"></a>
Dr Anthony De Francesco, managing director of IPD in Australia and New Zealand, says total returns for Australian unlisted core wholesale property funds have softened since their peak of 9.8% in August 2011, reflecting “general weakness across most of the macroeconomy”.
“The persistence of the sovereign debt crisis in Europe will continue to dampen global economic growth and constrain asset prices and fund returns.
“A possible downside risk to the Australian economy is the joint slowing of China’s economy and the ending of the mining boom. Both of these factors will prove to be detractors of growth to the Australian economy," he says.
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ISPT’s Urban Workshop in Melbourne CBD ranks as top-performing unlisted trust with 12.8% annual return

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An expatriate investor from Japan visiting friends on the Sunshine Coast has bought a 63-square-metre office suite in a commercial complex at Noosa Heads for $230,000 plus GST on an attractive gross yield of around 9%.
The sale of suite 7 at Noosa Central complex on Bottlebrush Avenue, <a href="/news">Noosa Heads</a>, which is leased for two years to Body Corporate Services, was negotiated by David Brinkley, along with Paul Forrest and Paul Butler of Ray White Commercial Noosa.
The current annual rental on the office is $20,812.
<img src="/images/stories/2012/10/bottlebrush.jpg">
Brinkley says the commercial property market has  picked up "a little bit" in last 12 months, with "lots of investors sniffing around that at the moment".
Ray White Commercial Noosa also negotiated the sale of suite 13 in the same complex, measuring 67 square metres and under lease for another 12 months.
It was sold for $220,000 to local professional Greg Martoo, who had been seeking a small office in the Noosa area.
The Noosa Central complex is located directly behind the Noosa Junction CBD shopping precinct. Office space in the complex is currently being advertised from $250 per square metre exclusive of GST and outgoings. “Both of these suites attracted strong enquiry levels from investors as they were tenanted and offering a yield of around 9%,” says Brinkley. “We are seeing an increase in enquiry levels from investors who will look seriously at commercial and retail property as long as it has an 8% or higher return and a reasonably long lease in place.”
Both office suites were offered for sale by locally based investors.
In August,<a href="https://www.propertyobserver.com.au/retail/opportunities-for-smaller-investors-with-noosa-shops-and-suites-from-%24800000-to-%242-million/2012081356002" target="_blank"> Property Observer reported on signs of a turnaround in the Noosa commercial property market </a>following a number of years of struggle. Paul Butler said at the time he was seeing an increase in confidence from buyers for properties with good lease covenants. “Super funds are becoming particularly active as buyers look for stable returns outside of the stock market,” he said. 
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Noosa office suite sells for $230,000 to holidaying expat investor on 9% yield

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Most people are familiar with the phrase “knowledge is power”, and for investors who might be looking to expand their asset portfolio, it often pays to remain up-to-date regarding the market values of properties. Not only can this knowledge help to inform decisions about whether or not to grow a property portfolio, but it can also assist in determining how to finance such acquisitions.
For many investors, the concept of unlocking property equity to finance additional acquisitions is becoming increasingly attractive – largely due to the liquidity, flexibility, taxation and capital growth benefits that can often result from such.
In real estate terms, equity is the difference between the current market value of a property and the amount owing on that particular property. For example, if a home is worth $700,000 and the owner owes $300,000 on a mortgage, he or she has $400,000 worth of equity.
Depending on the personal credit circumstances of the owner, he or she may be able to use a proportion of their equity to undertake renovations, refinance the mortgage or purchase additional investment properties.
It is important to note that property equity is not fixed, but rather can change according to market conditions; that is, when a property’s market value fluctuates, so too does the proportion of equity invested in it. With this being the case, the ability to use property equity as a source of investment finance will be largely dependent on the degree of equity that actually exists within a property at a particular point in time.
As equity and borrowing capacity are inextricably linked, unless an investor has an up-to-date knowledge of how much his property is worth and how much equity he can access, he cannot properly harness his portfolio-expansion prospects.
 
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Take, for example, an investor who has been steadily paying off his property portfolio (consisting of several properties) for a number of years. Over this period many prime buying opportunities may have come along – however, if the investor has not remained up-to-date on the market values and equity proportions within their properties, it is possible that he will have not considered, let alone taken advantage of, potentially fortuitous acquisitions. 
Without knowledge of what you have now, it will be difficult to know what you are able to do in the future.
It is for this reason that annual market appraisals can be a powerful tool for property investors; they can enable an investor to remain informed of the available equity in each of their properties, consequently giving them a clearer understanding of their own financial position and current ability to make further acquisitions.
Despite the wealth of knowledge that most seasoned property investors have about the real estate market, many will remain unaware of potential sources of finance that may be sitting directly under their noses. A key way to combat this is to have an annual market appraisal – something which will enable you to gain a good idea of how much property equity you might have access to. Doing this, in conjunction with a mortgage capacity check, will place you in a better position to assess your property portfolio expansion prospects, and to be able to act quickly to secure investment opportunities, should you wish to do so.
You might not be ready to buy at the moment – however, through knowing what you can afford, you can begin looking at investment opportunities – ready and able to pounce.
Harry Bozin is a director at <a target="_blank" rel="nofollow" href="https://www.century21homeloans.com.au/loantype.cfm">Century 21 Home Loans WA</a>
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