<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.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<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]

Joel Robinson

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

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

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

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

[smartcode_project:default project_id=111820 project_image_fid=344699]

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

[smartcode_project:default project_id=136442 project_image_fid=374084]

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li>An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li>Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li>No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li>Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li>Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

NSW parliament passes 10-year defect insurance laws for new apartment buyers

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?

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This weekend a large crowd at an Elsternwick auction did not translate into many bidders, but in Sydney an Erskineville auction drew more competitive bidding.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
At 1 Baxter Street, Elsternwick (pictured below) a lot of neighbours looked on as only one punter had his heart set on joining their community. After an opening vendor bid of $750,000 a solitary live bid of $760,000 closed out the auction proceedings.
<img src="/images/stories/2012/06/baxterst.jpg">
However. the passed in value was a long way off both the vendors and purchasers expectations and after a short negotiation a contract was signed at $840,000.
There was a bit more strength in the auction for 48a John Street, Erskineville (pictured below), as four bidders competed for the property before it was passed in at $1.12 million. The purchasers had to up the ante by $15,000 before the vendor agreed to sell for $1.135 million.
<img src="/images/stories/2012/06/stjohn.jpg">
The sale was a good result for the vendor, who paid $791,000 for the property in 2006 and has pocket capital growth at just over 6% per annum. This is almost double the median growth for Sydney houses over the same period.
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More strength in Sydney than Melbourne in auction tipping competition properties

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Have you clicked and collected recently? Or shopped at a kiosk? Or popped into a pop-up shop?
If you have, you’ve experienced one of the new retail models which are changing the way consumers shop.
Innovative retailers are turning to these new models to fight back in the face of low consumer confidence and <a href="https://www.smartcompany.com.au/economy/049977-warning-that-retail-growth-outlook-could-stagnate-after-fall-in-monthly-retail-turnover">dismal growth forecasts in the retail sector</a>.
1. Click and Collect
“Click and collect” is the solution for all those consumers whose joy of online shopping is tempered by the sheer inconvenience of queuing up at a post office with a missed-delivery card, or <a href="https://www.smartcompany.com.au/retail/20120116-retailers-increasingly-embrace-lay-by-click-n-collect-to-snare-greater-share-of-consumer-wallet">waiting at home for hours for a delivery truck to arrive</a>.
Consumers purchase goods online by “clicking” and then “collect” the goods from a store or locker.
It’s a model that UK shirt retailer TM Lewin is planning to roll out in Australia, enabling consumers to order a shirt online and then pop into a store to pick it up.
Gerard Crawford, country manager for TM Lewin in Australia, toldSmartCompany click and collect has been gradually rolled out in TM Lewin’s UK stores over the last couple of years and has proved to be successful, particularly in the retailer’s London stores.
“It is just an added choice for the customer, with click and collect you have the convenience that saves you having to wait for something at home,” says Crawford.
“It is more prevalent now in the UK and we have developed it from testing and trialling and now have it in the majority of the stores and it does work.
“Some department stores have taken retail space in the UK purely to have the space as a click and collect depot.”
In the UK, catalogue chain Argos had led the way with click and collect stores that do not display any products and exist only for customers to collect orders.
It’s a strategy that has been a huge success for the catalogue chain, with half of its £4 billion sales now multi-channel.
Click and collect is not as widespread a retail model in Australia as it is in the UK, but that is set to change with TM Lewin’s move and retailers including JB Hi Fi, Australia Post and Coles adopting the concept.
Jim Cooper, spokesperson for Coles, says click and collect is popular with the supermarket’s online customers who do not want to lock in a time to be home for delivery.
“They like the fact that click and collect lets them shop online, but collect their order when it suits them. They also save money by not paying home delivery charges,” says Cooper.
“The click and collect option operates from 43 Coles stores around the country, and is already generating thousands of orders a week.”
Coles is also running a trial where click and collect customers can collect their orders from refrigerated lockers located at Coles Express fuel sites.
“The early results of the trial have been encouraging, but customers tell us it could be improved. For example, by using a pin pad door rather than a obtaining a key from the service assistant,” says Cooper.
Australia Post has started using click and collect parcel locker sites to store goods bought over the internet with those who subscribe to the service receiving a single use six-digit code via SMS and email each time one of their parcels is ready for collection.
“The 24/7 parcel lockers mean customers can pick up their parcels on the way to work, on the way home or even on the weekend,” says Mel Ward, media and communication manager at Australia Post.
“A small trial at a facility in St Kilda resulted in 1,500 customers signing up to use the parcel lockers.
“As a result, we are extending the trial to a further 10 locations in Melbourne, Sydney and Queensland, with plans for a national rollout to further expand this service.”
Brian Walker, retail expert at The Retail Doctor, says the click and collect model represents a move from web-only retailers to multi-channel sales that use “clicks and bricks” together.
“It is the merging of online and the physical store. So we know that research and buying online is increasing, but it is a way of providing a technical process and experience of an online order with an in-store example,” says Walker.
“I think we will see more and more of it in Australia, it will just become a standard play in its own right.
“Conceptually, it is not a lot different from days gone by, from having a telephone and getting a retailer to put something aside for you and then collecting it.”
Walker says click and collect is particularly attractive for commodities like basic apparel and groceries with time poor customers who want to control the point of pick up.
2. Kiosk retailing
Forget megastores and big box retailers; the new retail model is for smaller and smaller “kiosk” retail units.
Hairdressing franchise Just Cuts, founded by Denis McFadden, has unveiled a haircutting kiosk at a Westfield shopping centre in the Melbourne suburb of Doncaster, <a href="https://www.smartcompany.com.au/start-up/049760-just-cuts-kiosk-highlights-shrinking-franchise-operations">in a bid to attract time-poor consumers</a>.
Luke Manning, Just Cuts business development manager, says the franchise would love to establish more kiosks over the next year.
Manning says the outlay for a normal Just Cuts site – which is typically 30 to 40 square metres – is anywhere between $160,000 and $260,000.  But for a kiosk site a franchisee could be up and running for $100,000, so it could be an ideal option for new franchisees with less capital.
“The kiosk was created for a niche market where an existing owner might want a second salon or for smaller shopping centres,” he says.
“It has been well received and my hope is that we see a lot of them in the next 12 months. We have people on the run coming in and we have had people from every demographic using them.
“For franchisees, it is cheaper. Start-up costs are less than half the initial start up costs of a salon and a kiosk is relocatable, so if it’s not working we can move it to another site.”


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<a target="_blank" href="https://www.propertyobserver.com.au/retail/hotdog-shop-dognation-almost-cuts-the-mustard-in-one-of-melbournes-smallest-retail-premises/2012061555135">Dognation, a newly opened hotdog shop in central Melbourne</a>, also operates a kiosk model with its three metre square shop.
Owner Seong-Lee Ang told SmartCompany he thinks Dognation is the smallest food shop in the city.
“Our leasing agents said they have never heard of anything as small as three square metres for a food shop,” says Ang.
Ang says the small format of Dognation creates interest from consumers with people walking past and taking photos of the store as it is “so unique”.
“The talking point of us being in such a tiny spot has been a really big thing, besides the product itself,” he says.
There are also practical advantages to Dognation’s small size, with Ang saving significant money on the lease.
“Per square metre the rent is not cheap, but obviously because we are only paying for three square metres as an overhead the rent is not that expensive,” says Ang.
“It is a big factor to us to say what is our productivity out of such a small space and there are definite advantages from a cost point of view.”
Ang says he is already in the planning process for more stores and will try to continue the kiosk model.
“I had a leasing guy call me today and he said we have another small kiosk space if you are interested. I think a lot of people are getting the idea that small spaces work well for certain types of businesses and ours is certainly one of them.”
David Gordon, partner in charge of the national retail advisory practice at WHK Group, says kiosks are attractive because they are cheaper.
“The cost of rental is less, the cost of fit-out is less, you need less staff because your security of product has a more physical framework,” says Gordon.
“There is a narrow range of stock sold in a kiosk. It is quite a category-based outlet, so you don’t need a vast range of stock and you don’t need to take the stock risk that a shop would take.
“Often you don’t need to take the long-term rentals that a shop has to take with landlords.”
However, Gordon warns kiosk retailing is not the panacea to all retail problems.
“It has its disadvantages and they are that your physical presence is not as enhanced as a shop would be. You don’t have the range so you essentially let customers down; the customer service isn’t as good.”
<h3>3. Pop-up shops</h3>
New products come and go, and now the stores that sell them do the same. Pop-up shops have taken off in the UK and USA and <a href="https://www.propertyobserver.com.au/https://www.startupsmart.com.au/innovation/three-reasons-behind-the-surging-popularity-of-pop-up-stores/201203145674" rel="nofollow">now in Australia as well</a>.
Amy Malin, co-owner of Danish furniture importer Modern Times, has built her business on “one-off concept stores that blur the line between retail store and exhibition” and Modern Times is now onto its third pop-up shop in the Melbourne suburb of Collingwood.
Malin says having a pop-up shop was the ideal way to start Modern Times as a business and was a great way to generate publicity.
“For us, it was a way to see if it was something we wanted to do, because it was a new business for us. It allowed us to test the market, and to create buzz.
“I have a background in events and we felt confident that we could run it like an event and market it like an event,” says Malin.
“There is that sense of urgency because it is temporary; people want to come and have a look straight away. For a regular shop, there is no urgency for consumers or for publicity.
“People like something a little underground and they expect it to be something interesting – and we didn’t disappoint people.”
Malin hasn’t decided whether Modern Times will run a fourth pop-up or look to set up shop permanently.
“Because we sell furniture, it is quite intense to pack up and move. That was confirmation for us that we should do a permanent shop,” says Malin.
“But we could also go and do a pop-up in Sydney or pop-up in New York, and it’s a great way to market our website as well.”
Walker says pop-up shops are perfect for event style retailing and allow retailers to surprise consumers.
“Pop-up shops give you instant accessibility, instant wow factor if done well, and put you in environments that you might not be otherwise,” he says.
“The challenge is that it is not a cheap solution and that is the first thing some retailers do. They put up a cheap fitting and it is uninspired.
“A pop-up shop is an extension of the brand and should be treated that way – so investment of capital is key.”
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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cwaters-YrtBR88nBe

Australian retailers devising new methods to entice customers offline

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The government ensures that employers put 9% of your earnings into a qualifying superannuation fund.
But then what? Most Australians have no idea how the financial markets operate. This has been made more difficult by the global financial crisis, and in the past few years Australians in typical superannuation funds have gone backwards.
One problem I see is that most Australians select the “default” option in their industry fund, which means a member’s money is put into a ‘balanced’ fund. Balanced might suggest your fund is split into quarters of fixed interest, property, cash and equities.
But look at an Australian “balanced” fund at a big fund manager and you’ll find they have around 60% in equities, 15% in property, 10-13% in cash and 10-13% in fixed interest (government and corporate bonds).
When you have 60% of your retirement savings in equities – half of which is volatile global shares – then you’re unwittingly on a roller coaster.
Fund managers are fond of telling us that after every financial crisis, the Dow Jones Industrial Average rises again, to new heights.
However, when it comes to the GFC, the finance world might be reordering itself permanently into a more conservative outlook, and retirement plans based on annual returns of 10% are unrealistic.
Secondly, the theory of the unbeatable Dow doesn’t take account of timing. Retirees don’t get to hang on in the volatile share markets until their shares regain lost ground. They need funds to live on.
So a balanced fund should be more weighted to fixed-interest investments – at the expense of equities – because the bond markets are more stable than the equities markets and they spin off regular interest payments. Since 1980 Australian government bonds have made the same returns to investors as Aussie shares, but with nowhere near the volatility. Corporate bonds have returned more than Aussie shares.
Just so no one thinks I’m alone on this, remember that David Murray (chair of the Future Fund), Ken Henry (former treasury secretary), ASIC chair Greg Medcraft and former minister of finance Lindsay Tanner have all wondered at Australian fund managers’ lack of interest in fixed interest.
So what do you do?
My first recommendation would be to see a financial adviser and ask about fixed-interest investments. Secondly, approach your fund manager and inquire about a better risk-return equation. He or she might have a better fund for you, with a stronger weighting to fixed interest.
Thirdly, have you thought about your own self managed super fund (SMSF). You probably need $200,000 in super to make it worth it, and you need the right accountants and solicitors.
But an SMSF allows you to invest where you want, which means you select your own risk-return formula.
Whichever way you chose to take control, remember: it’s your super – it’s your retirement.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. He runs a <a target="_blank" href="https://twitter.com/#!/markbouris">Q&amp;A session on Twitter</a> every Monday afternoon at 4pm for small business owners using the hashtag #bizQandA.
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mbouris-tauSvXGAM2

Equities are more volatile than property or fixed-interest assets in super funds

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What “real” (i.e., after inflation) rate of return should you expect to earn on your savings over the long run? The governor of the Reserve Bank of Australia, Glenn Stevens, offered an unsolicited answer to this thorny question in not one, but two, speeches delivered during the past week.
Central bank governors don't typically wander out in public and proffer specific point estimates for expected through-the-cycle returns generated by diversified investment portfolios. So a related ponderable is why Stevens would engage in such an exercise.
One possible answer is that he was seeking to condition community beliefs. Now this is a valuable undertaking. The next step in Stevens’s argument, which he did not articulate, is that if investment returns in the future are much lower than they were in the past, households will need to do more saving in order to fund their retirements and adequately mitigate the rather perverse “longevity risk” that retirement brings.
In his optimistic “<a target="_blank" href="https://www.rba.gov.au/speeches/2012/sp-gov-080612">Glass Half Full</a>” speech last week, which came hot on the heels of Australia’s exceptionally healthy GDP and labour market data (to say nothing of three rate cuts in two months that have radically reduced the real returns earned by savers),  Stevens argued that household wealth “will surely resume an upward track, sooner or later”.
Now if you want to be negative, this contention is debatable, and the experience of Japanese savers is a sobering counterfactual. But let’s assume Stevens is on the right track and that there are credible differences – population growth chief among them – that argue against a convergence in Australia and Japan’s economic destinies.
Stevens’ key message was that the returns savers realise in the future will probably be less than half of what they have earned over the last 10 to 15 years. More exactly, he said, “When [wealth does start rising again] … it is unlikely to be at 6 or 7% per year in real, per capita terms. I would guess that over the long term, something more like 3% would be nearer the mark.”
In his second speech, the governor obliged with a more detailed exposition. In particular, he presented the chart enclosed below sketching the after-inflation change in real, per capita household asset values over time. The insight he wanted leave us with was that the 6.4% per annum growth rate earned over the 1995 to 2005 period was historically exceptional. In fact, over the three decades that preceded it the average rate of household asset price appreciation in real per capita terms was closer to 3% per annum.
<img src="/images/stories/2012/06/rbajune15.gif">
 If Stevens is right, savers should budget on total net nominal asset price growth of about 6% per annum – i.e., adding in expected future inflation of about 3% per annum – across a well-diversified portfolio comprising, as it historically has, exposures to cash, shares and property.
For the avoidance of any doubt, Stevens believes this is a big deal: “I think this is a profoundly important point and worth emphasising. The decade or more up to about 2007 was unusual. It would be quite surprising, really, if the same trends – persistent strong increases in asset values, very strong growth in per capita consumption, increasing leverage, little or no saving from current income – were to re-emerge any time soon.”
Another way to define asset price growth expectations is to look at sustainable, or “steady-state”, rates of economic growth. One school of thought says that no individual sector can outgrow the overall economy for any lengthy period of time, or it will eventually become bigger than the economy itself.
Since 1974, Australia’s real (after inflation) economic growth rate has been 3.1% per annum. But underlying this figure is quite a bit of population growth. As the population expands, we tend to produce more. If we, therefore, strip out population growth, we find that real per capita economic growth has only been about 1.7% per annum.
As I have shown before, Australia’s central bank has a strong statistical bias to overshooting, rather than undershooting, the mid-point of its “thick” 2-3% inflation target. Over the last decade, core inflation has averaged about 3% per annum. And there is mounting evidence that inflation targets are becoming less important to central banks, including Australia’s, as they wilt under community pressure to foster growth.
Let’s nevertheless assume that future inflation remains contained at about 3% per annum. Combining this with our real per capita economic growth estimate of 1.7% per annum gives us future nominal growth of about 4.7% per annum.
Observe that both these numbers are significantly lower than the figures offered by Stevens: he gave us a real asset price growth estimate of 3% per annum, which in my nominal terms would be closer to 6% per annum.
What might explain this disconnect? In all likelihood, the fact that the household sector is a major supplier of riskier “equity” capital for both listed companies (i.e., shares) and property. Who, then, provides the non-equity, or debt, capital? The banks and bond markets.
When thinking about investments, people forget that the share market is a leveraged play on the Australian economy. That is, most listed companies fund themselves with a combination of debt from the banks or bond markets, and equity capital from shareholders.
The same underappreciated insight applies to housing. Over the last 25 to 30 years, Australian residential real estate has generated a total net return (including both capital gains and rents after transaction costs but before taxes) of about 10% per annum.
Yet gearing across the entire housing market is about 30%, and for those property investors with some debt (as opposed to those that have paid it off), gearing rises to around 45%. Thus the actual returns to equity investors in housing would be significantly higher than the 10% figure I quoted above. This makes intuitive sense because, like equities, an individual property has very high return volatility of about 15% per annum.
So irrespective of whether you are an investor in shares of Australian listed companies, which in the non-bank sector have average gearing of about 25% (note the banks are leveraged about 20 times), or in residential real estate that offers even more attractive leverage of up to 90% at lower rates of interest and longer terms, your “equity” returns (and risks) are going to be greater than the blended equity plus debt returns reflected in my aggregated 4.7% per annum asset price growth estimate. This blended return is like averaging the returns that both the bank and you get.
And this analysis probably helps explain the difference between real per capita economic growth of 1.7% per annum and real household asset price appreciation (in per capita terms) of more than 3% per annum.
Christopher Joye is a leading financial economist and a director of <a href="https://www.ybr.com.au/savings/index.cfm" target="_blank">Yellow Brick Road Funds Management</a> and Rismark. The author may have an economic interest in any of the items discussed in this article. These are the author’s personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations.
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Savers’ returns in the future will be much lower than they have been in the past 15 years: Christopher Joye

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The vendor of 8 Yarra Bank Court in Abbotsford has signed the house up to a Twitter account in an attempt to harness social media to sell the property.
Every day or so the house tweets another sweet comment about how things are going in the area and what a joy it is to live there. A recent tweet was "Spectacular view of the moon rise from the bedroom balcony at Yarra Bank CRT tonight", and another read "So wet cold and miserable outside. So warm and toasty from inside with the central heating on. Perfect day at YBC."
After joining Twitter 21 days ago the account already has 272 followers.
<img src="/images/stories/2012/06/housetwitter.jpg">
The campaign is part of a growing social media trend in Australia, recently started by Northcote resident Kurt Opray. He reckons his house sold for $135,000 above his reserve price after signing the house up to Twitter and YouTube and starting a blog. It all generated publicity on old media, via print and television coverage.
Opray has since started a business offering the same service to vendors. Other houses he has currently signed up for Twitter and blogs include a three-bedroom house in Beaumaris, a four-bedroom house in Sandhurst Golf Club and a three-bedroom house in Mildura.
He generally charges around $4,000 for each campaign, with a large focus on reaching an audience interested in buying property. In an interview with Alan Kohler for Qantas in-flight radio, he said his aim was use twitter to entice people to the area. He suggests to make it very conversational giving people a feel for what it's like living in the house.
"The fellow who ended up buying the house said he did spend some time looking through the blog the day before the auction, which is fabulous."
"You have to understand how to get the right followers [on Twitter]."
"There's ways to use Twitter to find people who have an interest in something you're purveying."
He advocates the use of social media on top of an agent's usual marketing campaign.
Since the media storm surrounding his sale it seems more and more vendors are running custom Twitter accounts, and it seems the trend may sometimes assist – South Morang's 10 Mirrabucca Street sold late last month after just three weeks on the market.
 
Houses with Twitter accounts
95 Todd Ave Yeppoon, Queensland <a href="https://twitter.com/#!/@95ToddAve" target="_blank">@95ToddAve</a> 140 followers
29 Pacific Boulevard Beaumaris, Victoria, <a href="https://twitter.com/#!/@BeaumarisHouse" target="_blank">@BeaumarisHouse</a> 0 followers
22 Quarterdeck Road, Sandhurst, Victoria <a href="https://twitter.com/#!/@sandhursthouse" target="_blank">@sandhursthouse</a> 17 followers
32 Cale Street Como, WA, <a href="https://twitter.com/#!/@ComoHouse4Sale" target="_blank">@ComoHouse4Sale</a> 67 followers
56 Rose Avenue Glen Waverly, Victoria, <a href="https://twitter.com/#!/@GlennyHouse" target="_blank">@GlennyHouse</a> 126 followers
5/67 Canadian Bay Road, Mount Eliza, Victoria <a href="https://twitter.com/#!/@MountElizaUnit" target="_blank">@MountElizaUnit</a> 286 followers
31 Nara Road Mitcham, Victoria, <a href="https://twitter.com/#!/@31NaraRoad" target="_blank">@31NaraRoad</a> 171 followers
10 Landon Place, Sheffield, Tasmania <a href="https://twitter.com/#!/@TasHouse4Sale" target="_blank">@TasHouse4Sale</a> 10 followers
19 Karnu Drive,Ninderry, Sunshine Coast, Queensland <a href="https://twitter.com/#!/@NinderryHouse" target="_blank">@NinderryHouse</a> 80 followers
15 Clearview Pde, Hazelbrook, NSW, <a href="https://twitter.com/#!/@Hazelbrook4Sale" target="_blank">@Hazelbrook4Sale</a> 86 followers
8 Yarra Bank Court, Abbotsford, Victoria <a href="https://twitter.com/#!/@YarraBankCourt" target="_blank">@YarraBankCourt</a>
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Three bedrooms, two car spots and 140 characters: Houses with their own Twitter accounts

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Three square metres is all it takes to run a hotdog shop, apparently.
Possibly Melbourne’s smallest retail food store, Dognation squeezes into its tiny alleyway nook like a sausage into a bun.
The owner of the morsel-sized shop, Seong-Lee Ang, thinks it’s the smallest food shop in the city.
“Our leasing agents said they have never heard of anything as small as three square metres for a food shop,” says Ang.
He says demand is high for small unique spaces like the one he has and places are hard to find.
<img src="/images/stories/2012/06/dognation2.jpg">
“We get a lot of people who would be dying to take the space we’ve got because it’s one of those iconic things for Melbourne. Especially for little laneways, they’re always in really high demand.”
Ang pays a higher than usual price per square metre but ultimately pays very little given the size.
“On a square metre basis we pay probably double the going rate. But compared to the total annual rent of other shops it’s not much.”
Leasing agent Andrew Hewett from Fitzroys says the shop was originally leased for $4000 a square metre with two years ago with 4% annual increases.  
The novelty of such a small shop is part of the draw for consumers, Ang says.
“The talking point of us being in such a tiny spot has been a really big thing, besides the product itself,” he says.
“It is a big factor to us to say what is our productivity out of such a small space, and there are definite advantages from a cost point of view.”
Ang seems attracted to strange locations and plans to open another branch inside an espresso bar on Southbank next month.
“We’re doing a store within a store concept. Using space within a different shop and creating a small brand within a brand. We are essentially a lunch trade only, so we can take advantage of the lunch hours within the other shops.
“It’s a private arrangement, it’s not an official sublet. We’ve got a connection with the owners of the espresso bar, it’s an internal arrangement.”
But it’s not the only tiny shop in Melbourne though. On the way back from visiting Dognation, Property Observer popped into Switchboard for a quick coffee.
Owner Joe Sayers says the kitchen area for the coffee shop is just 1.8 square metres, but there’s enough room for a coffee machine and two staff. The former cigarette booth now has seating opposite in what was formerly the building’s switchboard. Switchboard even offers a limited food menu so perhaps Dognation isn't top dog with its claim to miniature fame. Maybe it's time to play ketchup.
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Hotdog shop Dognation almost cuts the mustard in one of Melbourne’s smallest retail premises

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Developer Dexus’ super-green Sydney development One Bligh Street has been named the best tall building in Asia and Australasia by The Council on Tall Buildings and Urban Habitat.
This makes it one of the seven best tall buildings in the world for 2012 according to the council, the first time an Australian building has won the award.
The building houses Australia’s tallest naturally ventilated sky-lit atrium, a feature that impressed the judges.
"The dramatic, naturally ventilated central atrium connects the office workers with nature at the inner depths of the plan, giving a sense of openness for the entire building,” says jury panel member Werner Sobek, founder of Werner Sobek Group.
The council says buildings were selected for their design and technical innovations, sustainable attributes and the enhancement of both cities and the lives of their inhabitants.
“The winners display remarkable creativity, as well as a respect for the environment, connection with place, and the urban surroundings,” says awards committee chairman Richard Cook of Cook+Fox Architects.
The building could still be named the world’s best tall building at the 11th Annual Awards Ceremony and Dinner at the Illinois Institute of Technology in Mies van der Rohe’s iconic Crown Hall, Chicago. From the four regional best tall building winners, one overall winner will be selected and bestowed with the “Best Tall Building Worldwide” award, to be announced on the night.
The other regional winners were the Absolute Towers in Mississauga, Canada; Palazzo Lombardia, Milan, Italy; and Doha Tower, Doha, Qatar.
One Bligh Street has been valued at around $629 million and has a six-star green star rating. Standout features for the building include its double-skin façade and glass atrium but it requires high rents to deliver a suitable return to its owners.
Rents are believed to be in the $900 to $1,100 per square metre range for lower floors, rising up to around $1,300 for the upper floors.
Law firm Clayton Utz is the tower’s anchor tenant, and the Commonwealth government's Ministerial and Parliamentary Services recently leased three floors. Papua New Guinean oil and gas company Oil Search also just leased two levels, and financial media group Bloomberg is tipped to be the next tenant to sign on.
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Dexus’ One Bligh Street named best tall building in Australasia 

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The next wave of online retailing, far more dangerous for traditional store retailers than the first wave, is now upon us. It has been happening in the US and Europe for more than a year, but has now arrived in Australia.
It is – wait for it – full-price, non-discount retailing. That’s right – they don’t compete on price. The first wave of online retailers was, and still is, the discounters, but why are full-price online stores more of a wealth hazard for traditional bricks and mortar retailers? Because the margin is applied to service, specifically better delivery, instead of discounting.
The first of these is an online clothing and footwear store called The Iconic, which started up six months ago. It was created in just six months of business planning by five former management consultants, four from Boston Consulting and one from McKinsey and Co, copying similar operations in Europe.
The Iconic’s point of difference is that it offers free overnight delivery, guaranteed, within Australia, and three-hour delivery in Sydney for $4.95. Returns within 100 days have free delivery as well.
The business’s principals are two Australians, Adam Jacobs and Cameron Votan, two Germans, Finn Henzel and Andreas Otto and an American, Ryan Tuohy. They were all working in Sydney with BCG and McKinsey and decided a year ago that there was a gap in this country for a full-priced, free delivery retailer, copying ones in the US and Europe that had already taken off.
They got start-up funding from Rocket Internet, one of the world’s biggest incubator funds, as well as a private Swedish fund called Kinnevik.
Almost all innovation involves taking something that’s already being done and doing it better, and the key to making this one work was developing a partnership with Australia Post. Under Ahmed Fahour’s management Australia Post is trying to transform itself into a parcel delivery service for products bought online, to counter the collapse of ordinary mail.
The five partners persuaded Fahour and his team to initiate a sorting shift between 2am and 4am that didn't cost The Iconic or its customers any more. It means that products bought in the evening in front of the TV are ready to be dispatched by 6am the next morning and delivered free at 9am (according to Adam Jacobs).
The three-hour delivery within Sydney is done by a courier company and an automatic dispatch system; any longer and the fee is refunded.
This is an astonishing level of service, and takes online retailing to the next level.
The five partners won’t reveal any of their numbers except website traffic, which is public anyway. The Iconic is averaging 150,000 unique visitors a day, which is about three times the traffic that most of the traditional retailers are getting to their online stores.
Henzel told me they are “considerably” ahead of business plan at this stage and growing rapidly, mainly supported by performance marketing online, but also some TV, radio and print marketing.
In my view this sort of operation is a dire threat to existing store retailers, especially the big cumbersome ones.
At this stage it sells about 500 fashion brands – mostly Australian, but they are steadily signing up international brands as well. The reason it’s taking longer for the overseas brands is that they have to deal with local distributors, who have close existing relationships with stores like David Jones and Myer and are reluctant to deal with a challenger.
But it’s more of a threat to the property owners. Myer, David Jones and the other fashion chains all now have online stores and although they have been slow to move, they can catch up if they’re good enough.
But the landlords have no hope. Like print media, they are in a business with a limited future – the only question is how long they’ve got.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
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New wave of online retailers pose more of a threat to Aussie bricks and mortar stores: Kohler

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On the night of June 21, CEOs and senior management at many major Australian companies won’t be going home to their penthouse apartments but will sleep on the ground to raise money for the Saint Vincent de Paul Society.
Participants of the CEO Sleepout will spend a night sleeping outside to experience a night of homelessness with limited bedding and food.
So far 1,032 participants have raised a total of $1.48 million, in an effort to raise awareness of homelessness in Australia.
The event was launched by Carnival Australia CEO Ann Sherry, who spoke about hidden face of female homelessness.
“For me, the number of women and children who are homeless is a statistic and phenomena that we shouldn’t tolerate, and I think that is true of all homelessness.”
She called on female business colleagues to take up the challenge.
NSW is well in the lead in terms of fundraising at the time of writing. NSW has raised $767,646 with 271 participants, Queensland’s 158 have raised $499,433, WA’s 114 have raised $360,098, Victoria’s 148 have raised $299,817, South Australia’s 100 have raised $226,094, ACT’s 153 have raised $225,694 Northern Territory’s 37 have raised $58,487 and Tasmania’s 51 have raised $49,036.
The participants include Westpac’s Gail Kelly, Commonwealth Bank’s Ian Narev, ABC’s Mark Scott, Jones Lang La Salle’s Andrew Balzanelli and CBRE’s Phil Rundle and Andrew Stewart.
Kevin Rudd will take part in the event again this year. Last year he opted to sleep in Melbourne, saying Queensland’s warm nights were “simply too soft”. Malcolm Turnbull has signed up this year though so far he’s raised just $365 since signing up on May 24. Other politicians include Federal MP Kelly O’Dwyer and Queensland’s leader of the opposition Annastacia Palaszczuk.
To donate, visit <a href="https://www.ceosleepout.org.au/">https://www.ceosleepout.org.au</a>
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CEOs to swap four-poster beds for sleeping bags in CEO Sleepout

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Here’s some good news for Queensland home buyers and a warning of some traps to avoid.
In one of his early moves as the new Premier of Queensland, Campbell Newman reinstated state stamp duty concessions for principal places of residence (your home).
Cabinet formally approved the reinstatement of the principal place of residence stamp duty concession from July 1, 2012, which will save Queenslanders up to $7,000 when they purchase an average family home.
The concession was dropped in June 2011 by then Queensland Treasurer Andrew Fraser in a bid to raise an estimated $161 million for the state government.
While this is good news for home buyers in Queensland, as I said, there are some traps to avoid.
Firstly, what is stamp duty? 
Stamp duty is a tax that is levied by the state, not the federal government, on certain documents.
Historically, this included the majority of legal documents such as cheques, receipts, commissions, marriage licences and land transactions.
I remember the old days when a physical stamp (a revenue stamp) had to be attached to the document to denote that stamp duty had been paid before the document was legally effective.
Today, the tax no longer requires an actual stamp to be placed on the document, but obviously the tax must still be paid.
Interestingly, this type of duty was originally introduced in the Netherlands way back in 1624 and subsequently spread to many other countries.
So what is this new concession?
With the reinstatement of the home concession, contracts to purchase a home in Queensland entered into on or after July 1, 2012 by home buyers will be eligible for the transfer duty home concession if they meet the concession conditions. 
The home no longer has to be the first home of the home buyer, and can be a new house or one that has been previously occupied. In other words – it’s not a first-home owner’s grant and it’s not a new home owner’s grant.
But the home buyers will need to prove that they are individuals and not trustees, and the residence must be occupied as the principal place of residence within one year of the transfer and the occupation as principal place of residence must continue for at least one year from the time it commences.
Where the concession applies, a concessional transfer duty rate of $1 for each $100 or part of $100 will apply to the first $350,000 of the consideration or value of the home. Duty at the general rates will apply to any remaining part of the consideration. 
Putting this into numbers – the average home buyer will save $7,000 and if you think about it you’d probably have to earn $10,000 or more before tax to have that $7,000, so it’s a substantial savings for the average Queensland homebuyer. 
Here are the warnings…
 
If you plan to buy a property this month don’t make false arrangements in the hope of avoiding stamp duty – the government will be on the look out and is likely to scrutinise all home sale contracts carefully over the next few months. 
There are three very important circumstances in which the old duty will still apply: 1.    If the transfer or agreement replaces a transfer, or an agreement for the transfer, that included the land and was made before July 1, 2012; or 2.    If the transferee had an option to purchase the land, or the transferor had an option to require the transferee to purchase the land, granted before July 1, 2012 and exercised on or after July 1, 2012; or 3.    If another arrangement was made before July 1, 2012 the sole purpose or main purpose of which was to defer the making of the transfer or agreement until July 1, 2012 or later so the concession for transfer duty under the relevant provisions, as in force on or after July 1, 2012, would apply in relation to the dutiable transaction.
Buyers should be aware that these provisions are trying to “catch” anyone who comes to an agreement in principle with the seller but tries to delay signing a formal contract until July 1, 2012. 
It is likely that any contracts dated July 1 or shortly after that may be scrutinised and “show cause” letters could be sent to the buyers seeking proof that the decision to purchase was actually made on that day and not prior to it. 
I wonder if the last few months leading up to June will be quieter ones for home sales in Queensland.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
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