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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We’re the world’s wealthiest people, but we suffer from a poverty of optimism.
We remain a nation with its hands thrust in its pockets, neither spending nor investing. And I think I know why.
In simple terms, Australia has lost its mojo. We’re no longer the brash young over-achievers who confidently went out into the world and took on all comers.
If ever an event presented a microcosm of a nation’s demeanour and performance, it was the London Olympics. Australia, which had been a rising force in world sport at previous events, slipped back among the also-rans.
Ditto our cricket team, once feared but no longer the benchmark –smashed by the West Indies in the World Twenty20 semi-final.
We’re seeing the same loss of self-belief among mining magnates. The one thing that distinguished the big mining companies in the past was their ability to keep their focus on long-term goals and shrug off short-term aberrations like the recent dip in prices for coal and iron ore.
Many of the projects that have been earning mega export dollars recently were conceived and/or advanced in the shadows of the GFC. If their proponents had allowed short-termism to sway them, those projects might not have been started, let alone completed.
But confidence has evaporated. BHP Billiton’s recent performance resembles a colossal dummy spit, while the message from Rio Tinto vacillates in tune with short-term fluctuations in iron ore prices.
The latest survey by Credit Suisse named Australia as the wealthiest of 216 nations surveyed. Our median wealth per adult is $US193,653 and our proportion of individuals with wealth above $100,000 is eight times the world average.
You’d never know it watching average Australians going about their lives, saving, not investing, talking, not doing, following, not leading.
 
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A recent article that compared the global economy to a hospital made this comment: ''Europe's on life support, the US is in the general ward and Australia is in the ward for hypochondriacs.''
That perceptive observation may contain the best clue to our loss of mojo. Our traditional ties, economically and psychologically, have been with Europe and the US. Their economic declines have left us feeling insecure.
So despite everything in our favour – the world’s greatest wealth, the strongest economy in the Western world, low unemployment, rising incomes and attractive interest rates – we remain steadfastly pessimistic.
This has everything to do with real estate because the single biggest ingredient in a rising market is the intangible factor known as confidence. We’ve forgotten how to think and act optimistically – and our big city markets, though no longer on their knees, are barely walking.
The Perth property market speaks loudly of our malaise. If ever a market ought to be driven by self-assured citizens, it’s in Perth. WA leads the nation in every economic indicator that matters, including population growth, employment, retail spending and economic growth.
Western Australians would have to be confident, wouldn’t they? Hell, no. The consumer confidence survey by the Curtin Business Schools and the WA Chamber of Commerce found it’s fallen to its lowest level since the GFC. Little more than a third are optimistic.
Despite all the growth factors pumping through the WA economy, Perth housing prices have barely budged. Rents certainly have – the rental report for the September quarter from Australian Property Monitors recorded a 15% annual rise in the median rent for houses and 11% for units – but there’s been only the faintest glimmer of a recovery in house prices.
The answer lies in that confidence survey. It leaves me wondering: what will it take for us to feel confident again?
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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Everything in Australia's economic favour, but our property markets still hurt by lack of confidence: Terry Ryder

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One Big Switch, the consumer discount advocacy company, has returned to its roots with a new mortgage awareness campaign targeting lenders who don’t pass on RBA cash rate cuts in full.
Called “Truth in Banking” and with the slogan "We mind the gap" it asks borrowers to enter in the details of their current mortgage including their lender, interest rate, amount owed and any fees they are charged.
A trademarked “Rate Gap calculator’ gives subscribers an indication of how much extra they have been paying to date and on a monthly basis, based on RBA cash rate movements and their lender’s response to them.
Subscribers can sign up over the next 17 days with the campaign attracting just under 3,400 participants at last count. Subscribers will then receive information about future discounting campaigns.
One Big Switch was founded by Harvard MBA graduate Paul Hunyor and former press secretary to Kevin Rudd Lachlan Harris in July 2011 with funding from venture capital fund MH Carnegie &amp; Co (MHC), founded by Mark Carnegie and advertising veteran John Singleton.
It launched with a campaign offering borrowers the opportunity to be part of a mortgage discount offering.
Around 40,000 borrowers  signed up to this campaign last year have refinanced through one of these lenders with 1,600 choosing to refinancing through non-bank lenders Resimac, FirstMac, Mortgage Ezy, Mortgage Point and IMB Building Society.
One Big Switch is seeking to sign on 25,000 mortgage holders to the new campaign, which runs until November 2.
A spokesperson for One Big Switch says the campaign is all about “transparency, creating awareness and consumer empowerment”.
"The purpose of the campaign is find 25,000 consumers to calculate the rate gap. The rate gap is the difference between RBA cash rate movements and rate movements by individual lenders.  
"Throughout the year One Big Switch members are offered discounts on many household bills, including their mortgage, but this campaign is not about discounted mortgages."
One Big Switch campaigns are being led by Christopher Zinn, former the head of communications at consumer watchdog Choice.
“The banks know exactly how their policies of not passing on the benefits of cash rate changes impacts on their bottom line in a positive way,” says Zinn.
"But the consumer, until now, has been largely oblivious of the negative effect  unless they had the will and technical skills to juggle all the numbers.
"This is one reason we have launched the ‘ We Mind the Gap’ campaign. To arm ordinary people with information they may need to make better decisions."
The latest campaign is being carried out in partnership with Channel 7 and being promoted via Channel 7 News, Sunrise and Today Tonight.
According to Strachan Taylor, head of mortgages at One Big Switch, a look back over the last 20 years reveals that banks have often not always passed RBA cash rate moves completely and immediately on.
“In fact over the last decade they have done so 55 times,” he says.
“Since 1990 the spread between the RBA cash rate and the general bank lending rate grew to 4.75% by mid-1993, and remained around 4% until late 1994, dropping to 3% in late 1994 and from mid-1995 rapidly fell to its minimum of 1.7% in 1999.”
He says the spread remained tight at around 1.8% until 2008 when the GFC hit, following which spreads once again quickly began to widen to 3.4% today.
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lschlesinger-FZcF9M3vE6

One Big Switch targets miserly mortgage lenders in new consumer awareness campaign

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Office leasing activity in the Melbourne CBD is at lowest level in a decade, but the current vacancy rate of 6.2% is not expected to blow out, with accountants KPMG and law firm Corrs Chambers Westgarth among those seeking around 150,000 square metres of office space.
Savills recorded 190,487 square metres of space leased over the 12 months to September 2012 in central Melbourne (CBD, St Kilda Road, Southbank and Docklands) from leases greater than 1,000 square metres.
This is down 56% on the previous corresponding 12-month period and down on the five-year average of 438,495 square metres.
The hardest hit was the high-end premium office market, which experienced a total negative net absorption of 12,336 square metres for the year compared with grade A, which enjoyed a positive net absorption of 7,760 square metres and secondary grade office stock, which recorded a positive net absorption of 8,619 square metres.
This resulted an overall positive net absorption of 4,043 square metres - net absorption refers to the amount of space occupied at the end of a period of time minus the amount occupied at the beginning of that period, takes into consideration space vacated during the period.
The following graph prepared by Savills shows that the lowest vacancy rate remains for A-grade office stock (4.7% down from 5% ) while the vacancy rate for the most expensive premium grade stock has risen from 5.4% to 7.7%.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/savillsoct16.gif"><img src="/images/stories/2012/10/savillsoct16thumb.gif"></a>


<hr class="system-pagebreak">
Despite the subdued leasing activity, significant tenancy requirements remain in the market, according to Savills.
Savills head of office leasing for Victoria Nicholas Farley says it is premature to talk about a vacancy rate blowout and predictions of a significant fall in rental levels when there is a good level of tenancy requirement and enquiry levels are trending upward.
"Public requirement for CBD office space is currently well above 150,000 square metres, including Corrs Chambers Westgarth (9,000 square metres), KPMG (25,000 to 30,000 square metres), and several other well-known tenants in the market for circa 6,000-square-metre requirements.”
"Add to that the fact that enquiry from the finance and insurance sector is well above its historical average, the property and business sector has its highest enquiry level for 10 years, and while the IT and technology sector has recorded an about average requirement, in terms of what its requirements have been over the last decade, it is now trending up."
The biggest leasing deal over the year to September was Suncorp leasing 15,500 square metres of space at 530 Collins Street, Melbourne’s largest premium office building, which is owned by the GPT Wholesale Office Fund.
Net effective rents now typically ranged from $340 to $437 per square metre per annum for A-grade quality stock, and between $205 to $287 per square metre per annum for secondary-grade buildings.
Net rents for premium grade range from $440 to $675 per square metre.
According to Savills,the Melbourne CBD office market contains 3,581,940 square metres of lettable space.
Of this, over half at 2,034,886 square metres is of prime (premium and A grade) quality, 849,431 square metres is grade-B quality and the balance (697,623 square metres) grade C and grade D.
Savills also notes that foreign investors continue to be attracted to Melbourne  office investments due to a range of newly built buildings  with long leases to quality tenants and the comparable stability of the region’s economic environment.
In the last six months the most significant transactions in central Melbourne were 525 Flinders Street ($54 million, purchased by AFIAA), 501 Swanston Street ($60 million, purchased by PDG) and 150 Collins Street currently under construction ($180 million, purchased by GPT).
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Melbourne CBD office leasing activity lowest in a decade but demand for space will prevent vacancy 'blowout': Savills

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Conglomerate Wesfarmers, the owner of Coles, has engaged investment banks to review its property strategy with a view to selling the freeholds of 25 shopping centres it owns worth $700 million.
This follows its main supermarket rival Woolworths considering selling down 69 shopping centres currently held on its own balance sheet into a new $1.4 billion A-REIT.
Both moves are aimed at allowing the supermarkets to focus on their core activity of retailing.
Coles is not contemplating a similar ASX-listed structure as Woolworths, but is considering a similar model used by shopping centre landlord Centro, which added around $1.1 billion to its coffers through property investment partnerships with the Perron Group and industry superfund ISPT.
It would remain property manager of the freehold stores with investors also able to invest in new store rollouts – around 10 new stores annually, according to a report in The Australian Financial Review.
Coles is being advised by Simon Rooney, head of retail investments at Jones Lang LaSalle along with Nick Jacobson, head of real estate at Goldman Sachs, and John Perry, head of industrial and real estate at RBS.
Coles operates 744 supermarkets, 794 liquor outlets, 625 Coles Express stores and 92 hotels, but owns only a small percentage of these properties.
It leases 95% of its supermarket space.
Coles has been selling some of its smaller free-standing property holdings while properties featuring Coles as an anchor tenant have sold on strong yields.
In September, a 4,000 square metre corner bulky goods site on Ferntree Gully Road in Glen Waverley featuring a Coles Express service station sold under the hammer for $7 million through Burgess Rawson Melbourne. The site brings in annual rent of $413,000 a year, representing a gross yield of around 5.9%.
Wesfarmers has vast experience in the commercial property market growing the BWP Trust, which holds Bunnings Stores, into an externally run portfolio worth $1.3 billion. Wesfarmers has a 23% investment in the BWP Trust.
It also has experience divesting its property interests, selling a $230 million portfolio of stores to a Charter Hall Group and Telstra Super consortium.
Wesfarmers holds $2.6 billion worth of property assets on its balance sheet, according to June 30 annual accounts.
It acquired Coles in 2007, with Wesfarmers managing director Richard Goyder saying at the time it had not ruled out putting any property assets that it might inherit into a separate property trust.
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Wesfarmers considering selling off Coles freehold supermarkets to institutional investors

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Another attempted Nigerian fraud involving an absentee Perth owner has been fortuitously foiled by estate agency vigilance.
Scammers contacted Peard Real Estate North Beach to change a contact email address of the owner who was living in South Africa.
Police tracked the emails to Ghana, and the major fraud squad confirmed the scam was Nigerian.
The West Australian reports the scammers contacted the agency initially thanking it for a condition report the agent provided and to ask for a valuation on the Edgewater home.
There were phone calls that followed the initial email contact which created the suspicion, The West Australian reported.
A similar scam made headlines in 2010 when landlord Roger Mildenhall returned from South Africa to find his Karrinyup investment property had been sold.
Mildenhall lost his $485,000 home when it was sold by scammers in Nigeria.
A Ballajura family fell victim to a similar scam while living overseas about 11 months later. 
It was a brick Ballajura house located 14 kilometres north of Perth.
The owners discovered they had become victims of identity fraud perpetrated by scammers in Nigeria when they returned to Perth to inspect the property that had been sold and settled months before without their knowledge or consent.
The proceeds from the sale, almost $400,000, had been sent to a bank account in China.
In both Nigerian property scams that occurred in Perth, con artists were able to convince the agent, the settlement agent, the banks and Landgate that they were the title holders and could sell the property.
Once the transfers had occurred and the sales settled it became apparent that everyone had been duped, including the legitimate owners of the houses.
Those crimes led to fraud squad seminars to teach real estate and settlement agents how to detect and prevent similar scams, with <a target="_blank" href="https://www.propertyobserver.com.au/residential/real-estate-institutes-to-tackle-nigerian-property-scams/2011112152451">national plans </a>to combat the issue.
Consumer Protection Commissioner Anne Driscoll says the recent attempt was a reminder for all real estate and settlement agents to be meticulous with new procedures to prevent real estate fraud.
Real estate and settlement agents are now asked to follow the client identity verification and real estate fraud identification guidance notes introduced last year that involve confirming a vendor's identity and any change of contact and banking details.
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jchancellor-FAypfDUnLy

Another Nigerian Perth scam house sale averted

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The Continental Hotel and the adjoining historic Isle of Wight Resort Hotel site in Cowes on Phillip Island have been listed for sale with a combined price tag around the $25 million mark.
They are available for purchase separately or in one line.
The iconic Isle of Wight hotel burned down in May 2010.
Built in the 1920s, the hotel played host to Fred Astaire, Ava Gardner and Gregory Peck during their filming of the 1959 movie On the Beach in 1958.
<a target="_blank" href="https://www.propertyobserver.com.au/rural/iconic-phillip-island-resort-development-site-for-sale-and-it-s-on-the-beach/2011090151385">Property Observer reported on a listing of the Isle of Wight Resort Hotel site in September </a>last year with its approval for a nine-storey residential resort development and $9 million-plus hopes.
The 9,197-square-metre vacant site offers oceanfront views and is located adjacent to the Continental Hotel on a site measuring 9,097 square metres.
Both properties are being sold by Terry Board from TJ Board &amp; Sons and Mathew George from Jones Lang LaSalle Hotels.
Board tells Property Observer there has been strong enquiries on both properties and he is expecting them to sell.
“There has been corporate interest, development interest and interest from hotel people with regard to the Continental,” says Board.
The permit to develop the Isle of Wight Resort Hotel site has since expired.
Board says the vendor has realistic expectations of $10 million for the Isle of Wight site and at least $15 million for the Continental hotel.
Both properties are owned by Sydney-based hoteliers and business owners, the Gearing family.
The Gearing family acquired the Continental about 10 years ago and has owned the Isle of Wight site property since 1982.
Operating since 1976, the 9,097-square-metre Continental hotel is located on one of the most sought-after locations on the island, overlooking French Island and The Mornington Peninsula.
The three-star hotel had additions completed in 1995 and 1998 and comprises of 62 guest rooms, ranging from hotel style to self-contained accommodation.
The hotel facilities include two restaurants, conference rooms, an outdoor swimming pool, barbecue pavilion and on-site parking.
The Island of Wight Bar is a sports-style bar located on the ground floor and forms part of the overall business. It offers TAB facilities, bistro dining, a large outdoor terrace and can hold up to 382 patrons.
<img src="/images/stories/2012/10/wight.jpg">
In the last financial year, the Continental Hotel had a 50% occupancy rate and total revenue of $3,718,455, with a net operating profit of $1,578,056.
The Continental Hotel also comes with 27 electronic gaming machines, which could contribute between $800,000 to $900,000 to the asset's profile.
Phillip Island has 3.5 million visitors annually and is a famous tourist destination due to the Island’s famous penguin parade.
Room occupancy rates in Victoria increased by 1.0% to 68.4% in the March 2012 quarter compared with the March 2011 quarter.
Phillip Island hotels increased 6% to an occupancy rate of 62.9%.
Victoria’s total accommodation takings in the March 2012 quarter increased by 7.6% over the March 2011 quarters to $446 million.
Phillip Island had a 3.1% growth in accommodation takings to $6.3 million.
Phillip Island receives about 3.5 million visitors every year and has a rapidly growing residential population comprising around 9,500 people.
An expressions of interest campaign closes on October 24.
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Iconic Phillip Island resort development site re-listed along with neighbouring Continental Hotel 

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Suncorp Insurance will occupy 785 square metres of new office space at Westfield’s Fountain Gate Shopping Centre in Narre Warren at a gross rent of $320 per square metre on a five-year lease starting in October.
The lease agreement was negotiated by Leah Baxter of Colliers International.
Under the new structure of the business staff will operate from home, with Suncorp using the Narre Warren office space as a training hub.
The location within a shopping centre made the training hub accessible and convenient for staff.
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Suncorp leases new office space at Westfield Fountain Gate for training hub

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In my recent conversation with Mark Percy, executive manager of residential of Cbus Property, we explored some of the main issues confronting our sector. I was also very pleased to hear Mark express some refreshing thoughts across a range of ongoing topics impacting the housing market, as well as some timely points directly related to project marketing. By way of a preamble we firstly touched upon the positive impact of working for a subsidiary of a wholly owned superannuation fund, including its role in supporting building and construction employment.
These topics included Mark’s views on housing affordability, the impact of local and regional planning laws and how he sees the two points as very much intertwined. We also went on the talk about other diverse subjects such as delivering quality projects and good design alongside the need for Cbus Property to take an active and leading development role, not simply acting as a passive funding partner.
In our conversation we also looked at marketing and the all-pervading role of finance, which now, post-GFC, intrudes into almost any property-related topic, from personal mortgages to corporate and development funding to marketing.
The Cbus Property brand
Cbus Property brand is very visible within the development industry, and it is well worth recounting that the company has been successful, not only in terms of completed projects, but also the investment returns for Cbus Property’s parent, Cbus, the industry superannuation fund for the construction, building, infrastructure and allied industries. According to SuperRatings’ fund crediting rate survey, Cbus generally rates above average.
As a wholly owned subsidiary, Cbus Property works very closely with Cbus. Each company has a separate board. The super fund is one of the best performing in the industry, showing how a development, funding and labour model can and does work. This is a view that is clearly backed by concrete results.
“Helping to create employment, by creating jobs, has many benefits, and I am always reassured by the positive feedback I experience when I visit one of our development projects. The workers on-site obviously appreciate Cbus investing back into the industry through Cbus Property,” says Mark.
Cbus was formed in 1984, and currently has 675,000 members with $19 billion under management, of which $1.5 billion is invested within the activities of Cbus Property.
Given its scope and size, just how does Cbus Property work? As might be expected there is no particular magic formula. Cbus Property looks for development opportunities, both commercial and residential, but as already mentioned, one core objective is to help drive employment in the construction industry.
Cbus Property does not buy passive assets and has been operating as a high-profile developer since 2003 and operates a small and highly skilled management group. Mark brings in excess of 35 years of experience to his role.
Today Cbus Property has a range of projects underway with office projects and four residential developments in Sydney and Melbourne. Most commercial projects are held as long-term investments by Cbus and managed by Cbus Property.
 
<hr class="system-pagebreak">
 
According to Mark, partly as a result of the GFC, with residential projects there is a dynamic change in the availability of capital for new projects. Cbus Property is and has been a major financial partner across a range of projects, not just its own developments. One high-profile example is the recently completed upmarket The Residence project in Sydney. This project, as we will see later, also had some interesting marketing aspects.
The Cbus Property residential portfolio currently includes Sydney’s Dominion, in Darlinghurst, with 108 apartments, and the long-running Breakfast Point, in Sydney’s inner west, which is a joint venture project with Rose Group with over 2,000 homes and is set to run until 2016-17. In Melbourne, construction has recently commenced on Warleigh Grove in Brighton, set to deliver 101 apartments and seven townhouses.
Another key project for Cbus Property is at the Paris end of Melbourne, where in 2013 its next major new project, at 35 Spring Street, will get started. The 42-level building will have 270 apartments. According to Mark, this landmark project will highlight the role of quality design, one of Mark’s pet subjects and a driving factor in how he and the company look at each project they are involved with. We will return to this topic later to flesh out some of Mark’s more detailed thoughts.
I asked Mark about Cbus Property’s plans for the immediate future and where he saw the key opportunities.
“In the immediate future our focus will continue to be Sydney and Melbourne, but we are also keeping an eye on Brisbane. The city, core CBD locations is our home territory, then with residential within 10 to 12 kilometres of the CBD, such as suburb like Brighton and Breakfast Point.
“In Sydney we are currently working on a new CBD commercial opportunity.
“We will limit future projects to just commercial and residential, where our expertise is strongest.
“In terms of our own immediate future beyond the projects already outlined, like our many developers we are part of a wider industry network knocking on doors for new opportunities. We also get a lot of approaches from people looking for development partners and finance. We are part of a major superannuation fund, and that will always attract attention.
“In the post GFC environment, I do think there is real value and opportunities, as already suggested, in our structure. I think it creates harmony across our projects; it creates good returns and pride in their investments for Cbus members. We are very positive but cautious in moving forward in the post GFC environment.”
Moving to reflect upon the wider market, Mark clearly sees housing affordability and market confidence as key points that we will discuss in the next post.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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Cbus Property's Mark Percy in conversation with Colliers International's Peter Chittenden

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The Home Buyer and Property Investor Show was in Melbourne last week. It’s one of those events where many free tickets are handed out. The show is advertised with the motto of being “dedicated to educating home buyers and property investors of all levels” and having attended many shows during its six-year run, I can assure all home buyers or investors, if you don’t come out more confused than when you headed in, something’s amiss!
“Now is a great time to buy” – runs the advertisement – and boasts a host of “independent” advice from “trusted, reliable experts”. Let me be the first to say, as with other organisations, “trusted and reliable experts” do exist within the property industry. However, filtering them out from the mishmash of stands and the 80 or so speaking events is not an easy task for any armchair property investor.
“Independent” is a funny term. To the layman, it hints at someone who is “free of bias” – a qualification not many would be able to claim. Every professional has met with influences that sway judgement and learned scepticism to some degree or another. However at a corporate level, seeing the term independent would cause one to assume the provider has no relationships or affiliations that would direct its advice against the best interests of its customers – and these qualities aren’t always easy to identify.
The financial industry has struggled with the term “independent” for quite some time. In 2010 the IFAAA (Independent Financial Advisers Association of Australia) was established to try to filter out those who could truly claim to have no hidden associations.
Their website identifies the following criteria as being “independent”, without which “low-quality advice (would be) more likely”:
<ul>
<li>“Do not have any ownership links or affiliations with product manufacturers;</li>
<li>Do not receive commissions or incentive payments from product manufacturers; and</li>
<li>
Do not charge asset-based fees.”</li>
</ul>
How much policing goes into checking the ongoing performance of each “independent” advisor on the database is unclear, however, at the very least, it sums up what customers would expect when confronted with the word.
Section 923 of the Corporations Act lists its own restrictions when using the terms “independent, impartial or unbiased”.  However, these are broadly limited to receipt of commissions (unless they are fully disclosed and rebated to the client) receipt of benefits, or the need to achieve various provider volumes when referring business.
The Home Buyer and Property Investor Show has no such gold standard. Obviously, most of the speakers and traders pay to promote their wares, and a good proportion are openly associated with various providers and manufacturers.
Within the show itself, you’ll discover a broad array of developers, mortgage brokers, property “experts”, and so forth, each promoting its own vested method to achieve that pot of retirement gold.
By the time you exit the show, you’ll have been lectured to invest in the USA, negatively gear a portfolio, positively gear a portfolio, build, develop, purchase in mining towns, purchase within five kilometres of capital cities and so forth, from exhibitors affiliated with providers and in receipt of commissions from many different offshoots.
To inexperienced ears, every piece of well-delivered advice can seem persuading, hence the need to do plenty of homework before commitment. However, even taking into account the modest number of exhibitors who do fall under the definition of “independent”, I have a problem with using the term to promote the show – it’s simply incorrect and arguably misleading.
 
<hr class="system-pagebreak">
 
Having said this, the show is always useful for gauging a “feel” of current sentiment, and from the feedback I’ve received from colleagues who attended, numbers were significantly down, even compared with last year, which was also notably quiet.
As improving sentiment tends to mirror rises and falls in median values, a cautionary approach to calls of market recovery would seem appropriate – although I don’t doubt at a micro level, this is exactly what we’ll see in some pockets of our cities.
Transaction levels have improved over the month of September – due in part to home buyer incentives in a few states, recent rate drops, and rises in rental yields, which have stimulated investor activity. However, ease of affordability on one level can easily be outweighed by other struggling segments of the economy, in which case any uplift in transaction levels – or for that matter, median prices – may remain marginal.
Of course, the one piece of advice you won’t hear at the home buyer show is anything other than that now is the right time to purchase – especially as many view interest rate drops as the sole indicator market conditions are about to improve.
Other excuses used to inspire buyers at property shows are the so-called “hotspots”, from rural mining towns to regional townships and inner-city hubs.
The term hotspot seems to imply that property prices are about to soar and investors lap the information up as if it’s a piece of insider trading advice. Some advocates base their assessment of a “hotspot” on historical data – others wave this aside, preferring to look at new infrastructure projects, assuming a rush of population growth will add fuel to the fire without any assessment of what could oppose the assumed price rises.
If you purchase at the beginning of a mooted boom and leave at the end you’ll be a winner – but to do this you need to both speculate and gamble, and one thing history does teach us is where there’s rapid inflation, there is also a period of sharp “correction”.
To be honest, a hotspot cannot be truly identified until a buyer’s unique circumstances and property investment goals have been assessed.  To do this, takes more than a property expert – and usually begins with a trip to the individual’s financial advisor.
A hotspot for one buyer looking to balance cashflow will be different from the equity buyer looking for growth – and unless the property expert has a crystal ball to hand, all such information should come with a lengthy disclaimer attached.
Hares who rush in based on a whimsical promise of positive returns or double-digit growth may outpace the tortoise investor in the short term, but every piece of historical data we have to hand proves it’s the tortoise who wins in the long run. In other words – those who enter property investment with a long-term approach, to hedge against inflation and ride out inevitable short-term volatility – are ultimately the winners in the game of building wealth.
 
<hr class="system-pagebreak">
 
Gambling and property markets don’t complement each other; however it never quells the thirst to happen upon riches.  Statistics cover a multitude of property sins, and never more so than when associated with “hotspots”.
Whether at a property show or free seminar, if someone’s encouraging you to rush in based on an imminent rise in median figures or surge in population growth, I’d advise taking a step back and finding an opposing argument for each point presented, because you won’t be warned of rain clouds ahead if all you ever get presented with is a sunny forecast.
All this aside, before you heed the calls to buy now” that are sprouting from all four corners (except perhaps the camp of Steve Keen), purchasing a property for investment or occupation is a decision each buyer must take based on individual circumstances and should not be dictated by drop in rates, home buyer incentives, advice from property magazines, articles or home buyer shows that liberally use terms such as “market cycles” and “property clocks.”
They are all designed to inspire consumers to spend with a retail sale mentality and in such instances, mistakes are too often made. Instead it’s vital to keep a long-term considered outlook and to do this, it’s arguably better to avoid those areas to which consumers flock.
Of course, the key to any wise investment is in education – and I’ve written plenty on the subject in previous columns. However, it remains the case that many come out of university hand in hand with a degree, credit card, ability to earn, but little idea how to purchase a property, invest in the stock market, manage their super account, or control debt.  Trying to gain such knowledge via self education is also littered with potholes, especially if you glean it based on a mishmash of vested advice.
There’s no easy answer, but I can promise one thing.  You’ll never comfortably build wealth chasing a bargain or timing a boom.  Work hard to save hard, but invest with a slow and considered approach based on what you want to achieve in X number of years to secure your family’s future.
Hotspots will come but if you’re not careful, they’ll take your profits with them.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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Property investors must be cautious when seeking advice

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New rental listings last month were down in every state of Australia compared with the previous month, according to RP Data.
Across Australia the number of new rental listings dropped from 45,365 in the four weeks ending September 9 to 34,591 in the four weeks ending October 7.
Proportionally, the most drastic drop was in the ACT, where the number of new rental listings dropped from 407 to 266. At the same time last year the number was 205.
This was followed by WA, where new listings dropped from 3,795 to 2,694. The figures are a drop on the same time last year, when there were 3,342 new listings.
Queensland dropped from 10,947 last month to 8,301. Last year it was at 12,454.
NSW dropped from 12,390 last month to 9,018. Last year it was at 11,560.
Victoria dropped from 13,059 last month to 10,380. Last year it was at 10,919.
South Australia dropped from 3,347 last month to 2,775. The figures are up from last year’s 2,546.
NT dropped from 514 last month to 441. Current figures are slightly up from last year’s 431.
Tasmania’s numbers dropped from 906 last month to 716, bringing it in line with last year’s 718.
The number of total advertised rental listings are down from last month in every state as well.
Across Australia, total rental listings fell from 93,820 last month to 77,737.
In terms of numbers, Victoria experienced the biggest drop, falling from 30,191 last month to 25,697.
Proportionally the biggest fall was in ACT falling from 895 last month to 662.
Year on year, total rental listings are down from 89,392 to 77,737 across Australia.
<table border="1" cellspacing="0" cellpadding="0" width="418"><tbody>
<tr>
<td width="64" valign="top">
State
</td>
<td width="60" valign="top">
New listings this month
</td>
<td width="58" valign="top">
Last month
</td>
<td width="58" valign="top">
Last year
</td>
<td width="58" valign="top">
Total listings last month
</td>
<td width="62" valign="top">
Last month
</td>
<td width="58" valign="top">
Last year
</td>
</tr>
<tr>
<td valign="top">
Qld
</td>
<td width="60" valign="top">
8,301
</td>
<td width="58" valign="top">
10,947
</td>
<td width="58" valign="top">
12,454
</td>
<td width="58" valign="top">
17,457
</td>
<td width="62" valign="top">
21,300
</td>
<td width="58" valign="top">
25,373
</td>
</tr>
<tr>
<td valign="top">
NSW
</td>
<td width="60" valign="top">
9,018
</td>
<td width="58" valign="top">
12,390
</td>
<td width="58" valign="top">
11,560
</td>
<td width="58" valign="top">
19,813
</td>
<td width="62" valign="top">
24,505
</td>
<td width="58" valign="top">
22,533
</td>
</tr>
<tr>
<td valign="top">
Vic
</td>
<td width="60" valign="top">
10,380
</td>
<td width="58" valign="top">
13,059
</td>
<td width="58" valign="top">
10,919
</td>
<td width="58" valign="top">
25,697
</td>
<td width="62" valign="top">
30,191
</td>
<td width="58" valign="top">
25,671
</td>
</tr>
<tr>
<td valign="top">
WA
</td>
<td width="60" valign="top">
2,694
</td>
<td width="58" valign="top">
3,795
</td>
<td width="58" valign="top">
3,342
</td>
<td width="58" valign="top">
5,464
</td>
<td width="62" valign="top">
6,914
</td>
<td width="58" valign="top">
7,108
</td>
</tr>
<tr>
<td valign="top">
SA
</td>
<td width="60" valign="top">
2,775
</td>
<td width="58" valign="top">
3,347
</td>
<td width="58" valign="top">
2,546
</td>
<td width="58" valign="top">
6,061
</td>
<td width="62" valign="top">
7,001
</td>
<td width="58" valign="top">
5,803
</td>
</tr>
<tr>
<td valign="top">
NT
</td>
<td width="60" valign="top">
441
</td>
<td width="58" valign="top">
514
</td>
<td width="58" valign="top">
431
</td>
<td width="58" valign="top">
809
</td>
<td width="62" valign="top">
880
</td>
<td width="58" valign="top">
857
</td>
</tr>
<tr>
<td valign="top">
ACT
</td>
<td width="60" valign="top">
266
</td>
<td width="58" valign="top">
407
</td>
<td width="58" valign="top">
205
</td>
<td width="58" valign="top">
662
</td>
<td width="62" valign="top">
895
</td>
<td width="58" valign="top">
384
</td>
</tr>
<tr>
<td valign="top">
Tas
</td>
<td width="60" valign="top">
716
</td>
<td width="58" valign="top">
906
</td>
<td width="58" valign="top">
718
</td>
<td width="58" valign="top">
1,774
</td>
<td width="62" valign="top">
2,134
</td>
<td width="58" valign="top">
1,663
</td>
</tr>
<tr>
<td valign="top">
Aus
</td>
<td width="60" valign="top">
34,591
</td>
<td width="58" valign="top">
45,365
</td>
<td width="58" valign="top">
42,175
</td>
<td width="58" valign="top">
77,737
</td>
<td width="62" valign="top">
93,820
</td>
<td width="58" valign="top">
89,392
</td>
</tr>
</tbody></table>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a> 
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