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.

[smartcode_project:default project_id=145324 project_image_fid=372749]

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.

[smartcode_project:default project_id=145324 project_image_fid=354347]

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]

Joel Robinson

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.

[smartcode_project:default project_id=152069 project_image_fid=374394]

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.

[smartcode_project:default project_id=152069 project_image_fid=374399]

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.

[smartcode_project_cta:default project_id=152069]

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.

[smartcode_project:default project_id=95289 project_image_fid=366769]

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.

[smartcode_project:default project_id=95289 project_image_fid=366762]

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

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

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 receivers of collapsed music chain Allans Billy Hyde have announced all the company's stores will close and more than 500 jobs will be lost as a result.
Brendan Richards of Ferrier Hodgson said in a statement Australian Music Group Holdings will be shut down.
"The loss of jobs is disappointing, but we exhausted all avenues and there is no other way forward for this business," he said.
"These people have served music lovers and been a key part of the Australian music industry for generations. It is a sad day for live music in this country."
The 513 staff will be made redundant over the next few weeks. All the 27 stores will be closed.
The company collapsed earlier this year, after an injection of capital failed to save the business and investors called in receivers. It had been experiencing trouble for years, with the two groups, Allans and Billy Hyde, creating a new chain in 2010.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Receivers of music chain Allans Billy Hyde to close all 27 stores

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Sentiment in the property industry has dropped in resource states and picked up in the others, according to ANZ’s latest industry confidence survey.
Sentiment fell across the country for the second consecutive quarter from 106 points to 102 for the December quarter, though ACT, Victoria, NSW and Tasmania have improved, according to the latest Property Council of Australia-ANZ property industry confidence survey.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/10/pcaoct18.gif" rel="shadowbox"><img src="/images/stories/2012/10/pcaoct18thumb.gif"></a>
The survey polled more than 3,500 property and construction professionals from all states and territories for their forward-looking views.
The survey found the biggest mining states suffered the biggest declines, with NT, Queensland and WA posting the largest falls in sentiment.
NT dropped from 151 to 130 on the index, Queensland dropped from 113 to 96 and WA dropped from 136 to 120, with SA also declining slightly.
Queensland was the only state to shift from positive to negative sentiment over the quarter.
Despite falling confidence in resource states, the survey found most respondents did not think the mining boom was over.
Some 68% of respondents did not think the mining boom was over, and 27% believed their business’ performance would be reliant on the mining sector.
 
<hr class="system-pagebreak">
 
The survey found expectations for forward work have increased in Victoria and NSW, with respondents there having more faith in their own states than in the national economy.
The outlook for office space and retail sales in NSW and Victoria has also improved.
The survey found sentiment in the residential market has risen from 93 to 101, the first time in the survey’s five quarter history the sentiment has been positive. Sentiment for residential capital values rose in all states and territories, except for NT. It found housing construction expectations have also risen.
Confidence in funding projects has improved according to the survey, though staffing level expectations have fallen from 104 to 102 on the index.
The office market had the strongest investment potential over the next 12 months according to respondents, followed up residential, industrial, retirement living, shopping centres and then leisure/hotel/tourism property.
Property Council chief executive Peter Verwer says Australia’s largest property markets – NSW and Victoria – showed some encouraging signs.
“Respondents in these states have more faith in their local economy than the national economy, and expectations for forward work have improved,” Verwer says.
“Furthermore, although sentiment for debt funding availability is still negative, the shift in outlook here bodes well for future development.”
ANZ chief economist Warren Hogan says the survey shows a net balance of 13% of respondents believe economic growth will weaken over the next 12 months, up from 9% last quarter.
“We expect economic activity will remain relatively soft in the short term as Australia transitions to slower real income growth, with the terms of trade returning to pre-crisis levels,” Hogan says.
“Nonetheless, the medium term domestic economic outlook remains solid and will continue to be underpinned by strong growth in business investment.”
Hogan says though house prices remain soft in most Australian capital cities, prices have shown tentative signs of reaching a floor following recent RBA rate cuts.
“May and June RBA rate cuts are expected to be further supported by the October rate cut,” Hogan says.
“Residential auction activity has increased and auction clearance rates are at the highest level since 2010.”
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awalsh-7Ub9EypybQ

Property industry confidence down in mining boom states but up in non-resource states: PCA-ANZ

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Sydney Open offers the opportunity to go behind the scenes of some of Sydney’s best-loved buildings during the first weekend of November.
Organised by the Historic Houses Trust of New South Wales as part of the Sydney Architecture Festival, Sydney Open has three feature events: Sydney Open Night, Focus Tours and City Pass.
Sydney Open night is a free event held on Friday November 2 at 6pm with inspections of five sites, including the Chief Secretary’s building designed by architect James Barnet, Hyde Park Barracks Museum designed by Francis Greenway, On Seven at David Jones, Parliament house and St James’ Church.
Focus Tours will be led by the buildings' architects and owners and will run all day Saturday, November 3, with prices starting from $30.
Some of the buildings that can be viewed include two Sydney offices BVN Studio and Challenger workplace.
Challenger won the 2012 RAIA NSW interior architecture award and made it onto the 2009 World Architecture interiors short list.
Other buildings in the Focus Tours include the newly completed Cranbrook Junior School at Rose Bay, The Jack House at Wahroonga, the Kharkov House at Bellevue Hill  – and even tour of platforms and tunnels at Central Station, but that's been already sold out.
 The last opportunity to participate in Sydney Open is the City Pass on Sunday November 4.
City passes for the general public start from $40 and $30 for concession and members.
Participants are provided with a map and a City Pass wristband that gives them access to 50 of Sydney’s CBD buildings.
One of the 50 buildings is the $667 million development 1 Bligh Street, Sydney’s first six-star green star office tower.
Other buildings that can be viewed include Government House, Deutsche Bank Place, Challenger Workplace and the Central Local court.
A full list of the buildings available for viewing for Focus Tours and City Pass can be viewed on the <a target="_blank" href="https://sydneyopen.hht.net.au">Sydney Open website</a>. 
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Sydney Open sneak peeks at city's best-loved buildings starting to sell out

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When a home sells quickly and at a terrific price, everyone is delighted. In a bearish market this outcome remains the ideal target; however the wider the disparity between an asking price and the available offers, the more difficult the sale becomes.
The theory of "optimism bias" purports that individuals expect their own chances of receiving positive things in life to be greater than the average person and that their chances of incurring negative outcomes are less than average. The individual "optimism" outweighs the law of averages.
Thaler in 1980 postulated that “people often demand much more to give up an object than they would be willing to pay to acquire it”. Jeffrey Strain wrote “that people believe something they own is worth more than the exact same thing they don’t”. Thaler’s endowment effect (also known as ‘divestiture aversion’) has been described as one of the most important concepts in behavioural economics.
The connection to real estate is clear. It is common place that vendors of property perceive their own property’s value to be in excess of the buyer market’s perception of same. It is the single most significant impediment to the sale of real property. Essentially all property will sell “at a price” – it is the seller’s expectation that will hold up the process. Over time there usually becomes a meeting of the minds between buyer and seller and a deal is done; however very often there is a period of time and grief prior to achieving that consensus ad idem.
Richard L. Peterson (2008) proffered that in a normal housing market, sellers over-valued their own homes by around 12% more than is justified for the market to pay. In the US downturn, he further commented this to climb to an average of 33% above market value. Why? People are hardwired for “scarcity”, and we don’t want to let go of something we already own.
Peterson cited a study conducted at Stanford University (2008) that connects the endowment effect and the activation of the brain’s anterior insula. The intensity of activation of the anterior insula became a predictor in subjects for the strength of the endowment effect in a situation of value assignment. The interesting parallel is that the anterior insula also activates when someone is experiencing fear; pain or disgust.
The essence is that the prospect of a vendor selling their home below their own assessment of value will produce psychological responses akin to fear, pain or disgust. Given that the endowment effect has shown that the vendor’s notion of price will regularly be elevated beyond reasonable market perception, it is almost inevitable there will be some form of “pain” and that in an effort to avoid “pain”, the sale may be elongated in the pursuit of an unrealistic price.
 
<hr class="system-pagebreak">
 
In the absence of an ‘out of line’ price, it is the existence of a countering and stronger “pain” that can result in a sale. This may take many forms including but not limited to:
<ol>
<li>Financial stress</li>
<li>Illness/age</li>
<li>Relationship breakup</li>
<li>Undergoing the ‘schooling’ exercise of learning the reality of the market</li>
<li>Sheer exhaustion/exasperation at prolonging the process</li>
</ol>
That is, that a price reduction to meet the market becomes the lesser of two “pains”.
While there are always anomalies, it appears that relinquishing our cherished home at a value we feel is appropriate is often destined for some form of disappointment with either the sale price or the period required to achieve it. Like most matters psychological,it is the very awareness of the endowment effect and its influences that may assist in combating its fallout.
For vendors and agents alike, understanding and empathy are key. The selling process is often a rollercoaster of emotions – high and lows of excitement; disappointment; stress and relief. A seller who is more aware of the reasons for his emotional response to his expectations will be able to take charge of his notions of price and be prepared to accept the reality of the market feedback.
Agents are often accused of "over pricing" a home to win the listing. It is a fine tightrope of dealing with this endowment effect while delivering genuine and considered advice.
One business coach puts the issue in terms of face cream. The coach describes the marketing of face cream as one of the greatest lies perpetrated upon the consumer market. The promise of eternal youth is readily clung to despite the buyers already being quite sure that a tub of cream is unlikely to actually turn the tide of age. The face cream companies are simply purveyors of hope. Optimism bias, the endowment effect, hope and the reality of market dynamics are all in play for owners presenting their home for sale.
The upshot of this is that the endowment effect predicts “unrealistic seller expectations” will in fact be the norm. It is a powerful emotional response to ownership and scarcity. Agents would be better served understanding the power of the endowment effect when dealing with clients and consider their approach taken.
It is those agents who can successfully navigate and negotiate these factors who ultimately are the most successful – those being able to represent with integrity and maintain their client’s emotions from start to completion.
Brad Caldwell-Eyles is a principal at <a href="https://www.1stcity.com.au/" target="_blank">1st City - Hasemer+Caldwell-Eyles</a>
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Why your home is not worth as much as you think it is

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Bishopscourt, one of Sydney's grandest mansions – and the home of Anglican Archbishop Peter Jensen – is to be sold after a vote in favour of the sale at the 2012 synod.
The decision marks a reversal from when the proposal went before the 2010 synod. 
Despite opposition from the likes of the Rector of Naremburn, Rick Smith, its sale was approved with a reported 452 votes out of 579. But the motion allows a "sale window" of five years. The motion was moved by the diocesan registrar Dr Philip Selden and seconded by the Rector of Toongabbie, Raj Gupta.
Among their arguments was that it produced no income but cost at least $100,000 annually to keep in good repair. The Rector of Fairfield, Peter Lin, appealed for a yes vote advising $2 million dollars had been spent on the chimneys. He added some members of his congregation had been "scarred" by their visits there because the opulence contrasted with the way Christians lived in other countries, the Anglican press report of the debate noted.
Both something of exaggerations, as Property Observer understands maintenance and conservation work (excluding staff wages) undertaken at Bishopscourt in the last eight years has totalled approximately $2.94 million, averaging therefore $368,000 per year.
The picturesque 1850s Darling Point mansion has been with the church since it paid £6,750 in 1910. It's been home to seven archbishops, including Sir Marcus Loane, Donald Robinson, Harry Goodhew and its present occupant, the 11th archbishop of Sydney.
In the past the church has baulked at selling Bishopscourt, having contemplated it in 1963, 1982, 1991 2001, and most recently in 2010 when defeated by the narrowest of margins.
"The passing of time has allowed more work, research, prayer and thinking and the result is an in principle proposal to authorise the sale Bishopscourt when market circumstances permit," one church official suggested.
Eastern suburbs estate agents gave it a probable $25 million sale price, which reflects the 2010 estimates.
The decision falls against the backdrop of the synod's continued reduced financial capacity after stock losses following the 2008 global financial crisis.
In 2001 the then incoming Jensen let it be known that he was not keen on actually moving into the sprawling Greenoaks Avenue estate as he viewed the home as inappropriately grand for a servant of God and the sale proceeds could be better used.
"It's not really me, this house," he said recently in an interview with The Australian's Caroline Overington.
"I don't mean to complain. It's just that it's a bit like living in a wedding reception centre. And why does the church need such a residence? Every [financial] report that's ever been done says we should sell it, and I agree."
He wasn't the first to utter such words as in 1993 Bishop Goodhew, when he was Archbishop-elect, stated "I think the time has come for the diocese to build a new residence for the bishop; one which is functional but not opulent".
The support to sell was improved at the latest synod, the Anglican Church's own parliament with clergy and laypeople getting together to vote, because its nearing the end of Jensen's term as Archbishop as under church rules, he must retire before he turns 70 next year, and there is no successor yet.
The Swifts, another Gothic home for archbishops in Darling Point, was sold by Catholic Church in 1986 for $9 million.
Bishopscourt, which could revert to its earlier names of Percyville or Greenoaks, sits among the handful of pioneer homes to have survived from the 1850s.
Flowered in sandstone Gothic extravagances, it was built for the pioneer Thomas Sutcliffe Mort, who built an empire on wool, dairy, meat, mining and shipping.
The residence - mostly obscured by the fig trees on its 6216 square metre holding - was designed by architects John Hilly in the 1850s and Edmund Blacket in the 1860s. It was built around an original three-roomed 1835 cottage built for an ironmonger, Thomas Woolley.
Mort was a great supporter of the church, giving it the nearby land to build St Marks.
The church bought the estate from a land speculator in 1910, 32 years after Mort's death in 1878 and the departure of his family.
Prior to the purchase of Bishopscourt previous Bishops of Sydney had lived in a rented house in Darlinghurst (1837-1852), a rented house in Millers Point (1855-1857), and then a new house built in Randwick (on land exchanged for a site in Newtown) (1858-1911).
 
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Peter Jensen's home, Bishopscourt, Darling Point set for sale by Anglican Church

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The odds are fairly long on getting a better mortgage deal by taking out a fixed-rate home loans, real estate group First National has tweeted today, quoting an “undisclosed banking source”.
The real estate network's official news channel tweeted:
<a href="https://twitter.com/RealEstateCast" target="_blank"><img src="/images/stories/2012/10/fntweet.jpg"></a>
It comes as banks continue to cut their fixed-rate home loans to entice borrowers to fix their home loan.
Fixed-rate borrowers are better off if interest rates rise over the term of their loan but can be worse if rates fall over the term of their loan.
The federal government ban on exit fees does not apply to fixed-rate home loans.
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Fixed-rate borrowers seldom beat the bank: Tweet of the day

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The home of one of Melbourne’s oldest butchers will be auctioned on October 26, the first time the premises will be up for sale in 100 years and a rare opportunity for investor to acquire a retail holding on Carlton's Lygon Street retail strip.
Donati’s Fine Meats at 402 Lygon Street in Carlton (pictured bel0w) has pre-auction expectations in excess of $1.5 million and is only the second retail property up for sale in two years on Lygon Street.
<img src="/images/stories/2012/10/donatis.jpg">
The last commercial building to sell on Lygon Street was the 117-square-metre premises of Intrepid Travel at 231 Lygon Street, which sold in July last year for $1.9 million at a yield of around 3.7%.
The shop at 403 Lygon Street has been run as a butchery since the early 1900s. From its inception until 1954 it was run by the great-grandparents of the current business owner, Leo Donati. In 1954 Davide Baccini in partnership with Modesto Bertocchi (who later created Bertocchi Smallgoods) took over the shop, calling it Extra Meat Supply.
This ran until 1972, when Leo Donati took over the premises and changed its name to Donati’s Fine Meats.
Donati’s celebrates its 40th anniversary this year and is famous for its ox-tails, lamb shanks, veal-and-pork meat loaf and rabbits.
Opera-loving owner Leo Donati has recently signed a new five-year lease, with the shop currently returning a net rental return of $66,656 per annum.
A price of $1.5 million would deliver investors a yield of around 4.5%.
The 76-square-metre property is being marketed by Colliers International agents Jeremy Gruzewski and Tom Noonan.
“The term ‘rare opportunity’ is used quite regularly in our line of business, but the incredibly tightly held nature of this Lygon Street precinct makes this just about as rare an opportunity as you can get in this market,” he says.
“In the last two years, there has only been one commercial property sale on Lygon Street. This is an exciting opportunity to be part of a vibrant, popular area that doesn’t come along often.
Gruzewski says the property is in a high-profile location with excellent exposure to passing foot and vehicle traffic.
“This is an opportunity for a purchaser to secure a solid investment with rental upside and a long standing tenant who is keen to stay where they are,” he says.
The property is located on the eastern side of Lygon Street, between Faraday and Elgin streets, approximately two kilometres north of the Melbourne CBD.
The building itself comprises a two-level brick retail building with the ground floor featuring a fully fitted and renovated butcher shop with cool room, storage area and rear access.
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Historic Lygon Street, Carlton, butcher seeking new buyer with juicy $1.5 million-plus hopes

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Conditions remained tough for residential home builders in the June quarter, according to the latest ABS data.
New house commencements fell 0.6%, to $5.63 billion, and new other residential building (apartments) rose 22.1% to $3.37 billion with total residential building work declining for the fifth consecutive quarter by 3.1% compared with the 2.5% decline originally reported in August.
Alterations and additions fell 3.9% to $1.64 billion.
Non-residential work commenced fell 22.1%, to $6.76 billion.
Of the major state housing markets, WA recorded the biggest decline in new residential building work done of 13.2% followed by South Australia (-5.7%), Victoria (-5%) and NSW (-3.4%).
The value of residential work done in Queensland rose 7.4% to $1.8 billion.
In aggregate, commencements of new residential buildings rose 6.8% to $9 billion while total new building starts (residential and non-residential) fell 7.5% to $17.4 billion following rise of 4.1% in March 2012.
A pick-up in new residential building activity in NSW and Queensland is anticipated following the doubling of state grants for first-home buyers buying a new property.
The Housing Industry Association (HIA) said the ABS figures show that  in mid 2012 residential construction activity was even weaker than first reported.
HIA chief economist, Harley Dale, said that a fifth consectutive decline in residential building work done in the June 2012 quarter was steeper than initially thought and confirmed an ten year low for new home building activity.
“Interest rate cuts are helpful in hopefully turning around residential construction from the parlous state evident in mid 2012. However, the efficacy of easier monetary policy is considerably diluted by the historically high and excessive margin between the official cash rate on the one hand and mortgage and business loan rates on the other,” said Harley Dale. “Federal and state governments need to view today’s update on Australia’s residential construction industry as a signal they are failing to adequately invest in and reform new housing supply.
“Today’s update makes a mockery of recent scuttlebutt suggesting negative gearing arrangements need to be diluted or removed," says Dale.
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New home building flat in June quarter: ABS

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Stockland shareholders have been warned that profits will fall further in the next financial year with the Victorian residential market the standout weak spot.
Delivering his final address as managing director before he steps down in February, Matthew Quinn provided an update on residential deposits taken over the first quarter of the 2013 financial year.
Over the three months to September, net deposits taken declined from 1,127 to 1,082, with deposits on Victorian residential developments declining from 289 in the final quarter of the 2012 financial year to just 161 in the first quarter of the 2012-2013 financial year.
A smaller decline in deposits was recorded in NSW (170 to 142), with an improvement noted for Queensland (deposits up from 334 to 386) and Western Australia (334 to 393).
“Our residential business faces a high degree of uncertainty given current buyer caution,” Quinn told shareholders in Sydney today.
“There have been some signs of improvement in the housing market, particularly in Perth and we have recently been bolstered by first-home buyer stimulus targeted at the new housing market in Queensland and NSW.
“The reality, though, is that conditions are very tough in Victoria where the company’s most profitable projects are located.”
Stockland has eight residential community projects on the Melbourne fringes, including Highlands in Craigieburn and Selandra Rise in Clyde North.
Quinn reminded shareholders that at Stockland’s full-year results presentation in August, he said Australia was experiencing “the worst new housing market I had seen in more than 20 years in the industry”.
“This is not only because sales are at a cyclical low, but because this has persisted despite conditions that would normally stimulate activity – low unemployment, low interest rates, undersupply of housing and low rental vacancy rate.”
Quinn says that in every state where Stockland operates housing approvals are tracking well below the long-term average, and nationally the market is 18% below historical averages.
“Housing approvals is a lag indicator and these figures don’t yet reflect the recent downturn in Victoria which we expect to show through sharply in coming months.
“The good news is that population growth remains strong and this cycle will turn, but the question is ‘when’.
“We need to see a trigger for improvement – a sense that the market is moving, so cautious consumers become more concerned about acting too late than acting too soon.
“Interest rates are normally a driver of this, but in this cycle home owners are just paying off their mortgages more quickly rather than taking on more debt. In the long term this is a good thing, but it’s painful while we go through this process.”
 
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Quinn also reminded shareholders that while there is always a big focus on Stockland’s residential business, the majority of its assets are “investment properties where the profits are very predictable from secure, rental backed contracts”.
He said Stockland’s $5 billion shopping centre portfolio continued to perform well in the challenging environment and is expected to achieve 2% to 3% comparable net income growth in the 2013 financial year.
However, overall profit from Stockland's commercial property investments will be lower than last year. 
In addition, while Stockland’s retirement living business continues to see strong demand for products, "settlements are being impacted by the soft residential market conditions, particularly in Victoria".
In his address to shareholders, Stockland chairman Graham Bradley said a “combination of factors including low consumer and business confidence, anxiety about global economic conditions and fear of unemployment” have combined to produce headwinds, which have impacted on Stockland’s profit performance in the 2011-12 financial year. He said these headwinds “will continue to do so in the current 2013 financial year when, I regret to report, we expect our profit to decline further”.
Stockland profits fell 7% to $676 million in the 2012 financial year, with profit from its residential business falling 15%.
Bradley said the Stockland board is confident of delivering improved returns from the 2014 financial year, “as our three major retail developments come on line and as we launch new residential projects”.
He also thanked Quinn and said Stockland had grown significantly under Quinn’s leadership, who also steered the company through the 2008 financial crisis.
Bradley said the search for Stockland’s next managing director was progressing well.
“We look forward to announcing the appointment of our new managing director in due course.
“In terms of day to day operations, we are pleased to have a strong management team in place who will ensure that our business maintains momentum and achieves a smooth leadership transition.”
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Stockland expects further slide in profits in 2012-13 in ‘very tough’ Victorian residential market

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First-home buyers who bought their first homes at the top of the last housing market cycle in 2009, when state government grants were most generous, are now struggling to refinance their loans due to weak equity positions,  according latest Australian Mortgage Industry report prepared by JP Morgan and Digital Finance Analytics.
As interest rates fall and households continue to deleverage, the report says that around 30% of first-time buyers are seeking to refinance their loans, which is "twice the amount, if not more, than other borrowers".
“Secondly, and more worryingly, of those that apply, 15% are being declined – substantially above other categories of borrowers, who are all well below 5%.
“First time buyers bought at the ‘top of the cycle’, with insufficient time between 2009 and now to generate equity in their home, particularly in light of declining house prices relative to the 2009 peak.”
“The end result is that first time buyers not only have a higher proportion of existing loans looking to refinance, but also have a higher proportion of those re-financing applications rejected," says the report.
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Many of these buyers took advantage of boosted first-home buyer grants (which tripled to $21,000 for those buying new homes) introduced in the wake of the GFC, which the report says “buoyed housing prices throughout 2009”.


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They also bought with small deposits, with the report highlighting that the proportion of first-h0me buyers who bought with loan-to-value (LVR) ratios of more than 90% was higher than the average for other owner-occupiers groups.
In the interim banks have lifted LVR requirements in line with tougher global banking rules, and first-home buyers have been caught out.
According to JP Morgan, the two main reasons why loan applications are rejected now are an inadequate LVR (34% of rejected applications) or insufficient income (34%).
Over late 2008 and early 2009 the report says there was a surge in the volume of first-time buyers in the six months between the announcement of incentives in November 2008 and the reduction of first-time buyer LVRs by banks in April 2009.
“This simply pulled forward demand and left a substantial equivalent hole over the following year." 
The report also forecasts the current slow pace of mortgage growth to continue, noting that “growth in the average value of each form of owner-occupied approval is now in negative territory” – the first time this has occurred since data became available in the early 1990s.
The report says not only are the volume of approvals weak, but the average value of approvals is declining.
“While this may simplistically be dismissed as a broader indication of stalled house prices, we conclude that a degree of tightness for refinancings is evident – particularly for first-time buyers.
"Housing credit growth has continued to soften since breaking below double-digit growth rates in mid-2008. In fact, the most recent three-month annualised growth rate of 3.6% for housing credit in August 2012 is the lowest level since the RBA started disclosing credit aggregates in 1976.
"Given the current outlook, we expect low rates of credit growth to continue –with risk to the downside – as opposed to watching out for a quick rebound off the back of lower interest rates."
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