<p>Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.</p>

<p>The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.</p>

<p>The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.</p>

<p>Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.</p>

<p>The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.</p>

<p>Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.</p>

<p>The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.</p>

<p>Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.</p>

<p>"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.</p>

<p>"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."</p>

<p>The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.</p>

<p>&nbsp;</p>


Joel Robinson

Central Element seeks second Drummoyne apartment development

<p>The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.</p>

<p>The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.</p>

<p>The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.</p>

<p>The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.</p>

<p>A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.</p>

<p>Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.</p>

<p>The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.</p>

<p>Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.</p>

<p>The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.</p>

<p>Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.</p>

<p>"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.</p>

<p>"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.</p>

<p>"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."</p>

<p>The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.</p>

<p>Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.</p>


Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<p><a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.</p>

<p>The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.</p>

<p><a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350663]</p>

<p>The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.</p>

<p>Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.</p>

<p>Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372756]</p>

<p>Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.</p>

<p>Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.</p>

<p>Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.</p>

<p>"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.</p>

<p>"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350664]</p>

<p>MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.</p>

<p>"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.</p>

<p>"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372761]</p>

<p>Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.</p>

<p>"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."</p>

<p>Construction at Maris is anticipated to be completed in 2029.</p>

<p>[smartcode_project_cta:default project_id=134403]</p>


Construction commences on MRCB’s $200m Maris Residences in Southport

<p>Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.</p>

<p>Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;</p>

<p>The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.</p>

<p>Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372786]</p>

<p>Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;</p>

<p>The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;</p>

<p>Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.</p>

<p>"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372788]</p>

<p>Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.</p>

<p>"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”</p>

<p>Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.</p>

<p>Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.</p>

<p>[smartcode_project_cta:default project_id=142519]</p>


Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

<p>A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.</p>

<p>Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.</p>

<p>The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" /></p>

<p>According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.</p>

<p>Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.</p>

<p>"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.</p>

<p>"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."</p>

<p>The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" /></p>

<p>Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.</p>

<p>The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.</p>

<p>The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.</p>

<p><img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" /></p>

<p>Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.</p>

<p>Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.</p>

<p>The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.</p>

<p>Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.</p>


Newstead apartment boom continues with Longland Street tower plans

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.</p>

<p>NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.</p>

<p>Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.</p>

<p>“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”</p>


Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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<p dir="ltr"><span>The Ray White Rural network has welcomed Chris Goscomb, the owner and one of the senior auctioneers at NASCO Auctioneers.</span></p>
<p dir="ltr"><span>For Brisbane-based Chris Goscomb, t</span>he former stock and station agent from Gunnedah NSW, he was attracted to the broad reach and scale of the fast growing rural network with key business owners in every state and territory of Australia.  </p>
<p dir="ltr"><span>We’ve been on a good healthy growth path over the past six years, Mr Goscomb said. “Customers come to us if they want to buy or sell all kinds of stuff like machinery, vehicles, trucks, boats, tractors, plant and equipment.”  </span></p>
<p dir="ltr"><span>NASCO conducts monthly auctions in Brisbane with their vendors typically being local and state government departments, finance groups, corporations, agriculture, rental companies, earth-moving and civil companies.  </span></p>
<p dir="ltr"><span>They prioritise online technology which enables buyers to bid anywhere in the world via their smart device.<br></span></p>
<p dir="ltr"><span>Ray White Rural Managing Director Stephen Nell said he was excited about the potential that NASCO Auctioneers offers the broader agricultural network. </span></p>
<p dir="ltr"><span>“NASCO will be natural extension of our business given our company sells a lot of rural property and clearing sales are quite often included in those listings. All our members will now have a referral to assist them when selling their clients farm machinery. For the disposal of fleet, agriculture and machinery items everyone outside of Queensland will know to go to NASCO."</span></p>
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Ray White Rural welcomes NASCO Auctioneers into the group

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<p>The Burwood Brickworks residential community has reached a new milestone with all four apartment buildings currently under construction officially “topped out” this week.</p>
<p><span>Frasers Property Australia’s </span><span>new</span><span>est community in Melbourne’s </span><span>east is currently  three weeks ahead of schedule.</span></p>
<p><span>Sarah Bloom</span><span>, General Manager Residential Victoria for Frasers Property Australia says the topping out milestone is great news for residents eager to move in.</span></p>
<p><span>“It’s fantastic to see the progress of all four </span><span>apartment buildings and it means we will welcome the first of our </span><span>new apartment residents by Christmas,” Ms Bloom says.</span></p>
<p><span>The buildings comprise 267 apartments in total and are being constructed by Hacer Group. Hacer Group will now complete the interior of the buildings with the first apartments expected to be completed in December.</span></p>
<p><span>The apartments have proven popular with buyers at the mixed-use community, with just two apartments remaining for sale. </span></p>
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<p><span>To date, the apartments have attracted a range of buyers from first-home buyers, to empty-nesters, families and investors. </span></p>
<p><span>The two apartments still for sale are premium two-bedroom apartments and include two bathrooms, two car spaces and north-facing views of the Urban Plaza and village green, priced at $745,000. </span></p>
<p><span>The next and final apartment precinct at Burwood Brickworks is currently in planning stages.</span></p>
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Burwood Brickworks tops out ahead of schedule

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<p>Residential construction plays a vital role in supporting jobs both on and off building sites across Australia.</p>
<p>It has the second largest economic multiplier of the 114 industries that make up the Australian economy, according to new analysis.</p>
<p>Nine jobs are supported across the economy for every $1 million spent on residential construction, the report, Building Jobs: How Residential Construction Drives the Economy, found.</p>
<p>The data came from the National Housing Finance and Investment Corporation’s (NHFIC) research unit which found residential construction c<span>ontributes around five per cent to annual gross domestic product (GDP) accounting for about 134,000 jobs.</span></p>
<p>Of the total of nine jobs, around four can be considered on-site jobs, while the remaining five can be considered off-site, people who supply materials and other off-site services.</p>
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<p><span>The average cost of building a home in Australia is around $320,000.</span></p>
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<p>Commenting on the research, NHFIC CEO Nathan Dal Bon said this meant that every new home built generated an average of three jobs throughout a range of industries, based on the average dwelling construction cost.</p>
<p>“Understanding how residential construction activity may affect jobs and flow through to the broader economy is increasingly important and timely, given the impact of COVID-19,” Mr Dal Bon said.</p>
<p>It comes at a time when data shows substantial job losses have already occurred in the construction industry following the onset of COVID-19.</p>
<p>Recent ABS payroll data showed that employment fell by 5.8 percent between March and May.</p>
<p>The NHFIC’s research unit, established this year by the Federal Government, has dual roles. It is to undertake independent housing related research and also to monitor housing demand, supply and affordability across Australia.</p>
<p>The Building Jobs report, which draws on the most recent available data from the 2017-18 Australian Bureau of Statistics (ABS) input-output tables released last month, found that $1 million of output in residential construction supports around $2.9 million of industry output and consumption across the broader economy.</p>
<p>Relative to other industries, residential construction activity has strong economy spillovers in terms of economic output and jobs, particularly when there is spare capacity. </p>
<p><img src="https://www.urban.com.au/images/2020/6/19/4_Construction.png" alt=""></p>
<p>The employment impact on construction services such as plumbing, electrical, bricklaying and carpentry is almost four times that of any other industry connected to the residential construction industry, the report found.</p>
<p>Recent insights from internal discussions within the Reserve Bank of Australia highlighted its such a vitally important industry in the Australian economy in terms of its contribution to jobs and economic growth.</p>
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<p><span>Demand for new housing remains weak. </span></p>
<p><span>Builders of detached housing expect the recent weak demand to weigh on construction activity and cash flow beyond their current pipeline of around four to nine months.</span></p>
<p>The pipeline of residential construction work in the major east coast markets is at the longer end of this range, the RBA noted.</p>
<p>Builders and developers report that domestic banks and non‐bank financiers have become more conservative in their lending. </p>
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<p>It assumed 20 per cent of the labour force in the construction sector will be unable to work at some point in the June and September quarters.</p>
<p>The RBA economist Richard Evans anticipated the negative confidence shock higher than that experienced in the global financial crisis.</p>
<p>There was a late April RBA memo indicating demand for new housing had declined substantially since mid-March and was expected to decrease further.</p>
<p>"There have been sharp falls in sales, enquiries and foot traffic following the introduction of stricter containment measures," it noted.</p>
<p>There were increases in contract cancellation rates, particularly for new detached houses and greenfield land, so financial risks had increased for builders and developer as a result of the decline in demand for new housing.</p>
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Residential construction is vital to the Economy: NHFIC

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<p>The NSW Government has announced that the new $80 million Western Sydney Construction Hub will be located at the existing Kingswood TAFE NSW campus.</p>
<p>Minister for Skills and Tertiary Education Geoff Lee revealed the location with Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres during a visit to the Western Sydney campus.</p>
<p>“The Western Sydney Construction Hub will be located on the existing TAFE NSW campus in Kingswood. It will deliver specialised training for 700 new students each year in key trade areas such as carpentry, electrical, construction and plumbing,” Mr Lee said.</p>
<p>“As a dedicated Centre of Excellence for construction trades, the new facility will significantly enhance education and training in the region and showcase the best of what TAFE NSW has to offer in delivering world-class, practical training linked to jobs.</p>
<p>“We know our State needs a strong pipeline of skilled workers to meet the demand of our infrastructure boom, and that’s why we’re significantly investing in TAFE NSW.”</p>
<p>Mr Ayres said the new Western Sydney Construction Hub will equip students with job- ready skills at a time when the area is experiencing an unprecedented spend in infrastructure projects.</p>
<p>“With its world-class facilities, expert teachers and on-site industry engagement, the Western Sydney Construction Hub will help to deliver the skilled workers needed for major construction projects such as the Western Sydney Airport and Aerotropolis, and the Sydney Metro Western Sydney Airport,” he said.</p>
<p>The centre will be located on vacant land and is in close proximity to public transport, employers and other community amenities.</p>
<p>It is scheduled to be completed in 2023.</p>
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Western Sydney Construction Hub to be built in Kingswood

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<p><span>The majority of development applications in the eastern suburbs relate to renovations and extensions, according to the latest Herron Todd White (HTW) residential report. </span></p>
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<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. </span>This month’s HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
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<p><span>The report notes renovations are generally made by owner-occupiers looking to enhance their current home to meet their changing needs and include examples such as renovations of terraces in Paddington and Woollahra, to second storey additions to semi-detached homes in Maroubra and Randwick, to huge extensions and renovations to large prestige homes in Vaucluse and Bellevue Hill.</span></p>
<p><span>"While we do see full renovations of units and townhouses in the eastern suburbs, it is more often the case that a part renovation is undertaken to get an uplift in rent for investors, or an uplift in price for owners looking to sell after the renovation," the valuation firm said. </span></p>
<p><span>These renovations often focus on the works that will give you more bang for their buck such as a new kitchen, bathroom renovation or new floor coverings.</span></p>
<p><span>"Given the local government areas of Woollahra, Waverley and Randwick have a significant proportion of development applications relating to renovations and extensions, we took a look at the number of new development applications lodged so far this year and how that compared to last year," the valuation firm said. </span></p>
<p><span>In the period to the middle of May this year, Woollahra LGA saw 150 new development applications lodged. This was slightly down on the 170 lodged over the same period last year. </span></p>
<p><span>Waverley had 150 in both years, while Randwick dropped from 270 last year to 215 this year. </span></p>
<p><span>"These numbers may reflect the stronger property market conditions in the first quarter of 2020 compared to 2019, with owners looking to sell rather than stay and renovate, but may also indicate that some owners may be placing larger </span>renovation projects on hold under the current COVID-19 environment," the valuation firm said. </p>
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<p><span>The report notes a good example of uplift in value from renovating in the eastern suburbs is a property at the southern end of the region in Chifley.<br></span></p>
<p><span>The original two storey, semi-detached, four- bedroom, two-bathroom dwelling (pictured below) situated on a thoroughfare opposite Long Bay Correctional Facility, sold in September 2018 for $1.15 million.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/chifley%20before.jpg" alt=""></span></p>
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<p><span>After a full renovation, the property (pictured below) resold in November 2019 for $1.9 million, more than covering the cost of the renovation.</span></p>
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<p><span>Another example at 9 Jane Street in Randwick saw a detached, single level cottage (pictured below) sell originally </span>for $2.1 million in June 2019, then undergo a full renovation, before selling again in April for an undisclosed price above $3 million.</p>
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<p><span>"Both of these examples also benefited from an improving market between purchasing and selling. This is an important consideration for anyone looking to flip, as in a falling market it may be difficult to cover your total costs after completing the renovation," the valuation firm said. </span></p>
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Eastern Sydney sees decline in development applications for renovations: HTW residential 

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<p><span>The Northern Beaches area is heavily owner- occupier driven and most renovations occur for this purpose, whether that be for first-home buyers looking to add value or families looking to upsize but remain in their existing homes, according to the latest Herron Todd White (HTW) residential report. </span></p>
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<p><span>The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. </span>This month’s HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
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<p>The report notes Freshwater is one of the most active suburbs for home renovations at the moment.</p>
<p>"The suburb has one of the highest number of outstanding development applications in the Northern Beaches Council with around 30, particularly high considering the size of the suburb," the valuation firm said. </p>
<p><span>Entry level into the Freshwater market for housing is typically $1.5 million to $2 million, depending on the position in the suburb, land characteristics and accommodation size.Generally speaking, construction works typically return their cost and often a profit.</span></p>
<p><span>"It is prudent to analyse sales in the local area of finished, renovated homes if creating equity is a major factor in your decision to renovate. </span></p>
<p><span>"The sales will assist in determining what the market is willing to pay for certain products, help set a construction budget and provide design ideas and concepts that the local market is receptive to," the valuation firm said. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/freshwater%20after%20.jpg" alt=""></span></p>
<p>A recent example of this is <a href="https://www.realestate.com.au/sold/property-house-nsw-freshwater-133208874" target="_blank">70 Soldiers Avenue, Freshwater</a> (pictured above) which sold for $2.725 million on 9 April 2020.</p>
<p><span>This circa 1960s, four-bedroom, three- bathroom property recently underwent a full </span>renovation and is a good benchmark for owners looking to renovate their existing homes in the suburb.</p>
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Freshwater - the most active suburbs for home renovations in the Northern Beaches: HTW residential 

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<p><span>The prestige market on the Upper North Shore is seeing plenty of renovation activity, although this is not uncommon for this area of course, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"It can traditionally be very hard to find a property that ticks all of your boxes at this higher end of the market, so usually buyers or owners are willing to renovate as needed and are more likely to have the funds to do so.</span></p>
<p><span>"This has become even more pronounced with the dramatic drop in the amount of stock coming onto the market during this COVID-19 period," the valuation firm said. </span></p>
<p><span>Home-owners who were looking to potentially upgrade prior to March this year may now be nervous due to the current uncertainty in the market and decide to renovate instead. </span></p>
<p>The report notes these same owners may now have slightly more time on their hands too, allowing them to investigate the renovation and associated DA process.</p>
<p><span>Renovations on the Upper North Shore, assuming undertaken to a quality standard, traditionally provide the added value of the completed work at a minimum.</span></p>
<p><span>"Of course there is always the odd property where over-capitilisation has occurred, but it is hard to go wrong in this sector of the market if owners follow the basic renovation rules," the valuation firm said. </span></p>
<p><span>An example of a recent purchase and renovation job re-sold in March this year for a substantially higher price.</span></p>
<p><span>The period property At 36 Powell Street, Killara (pictured below) sold in May 2015 for $2.75 million and was in dated condition throughout.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/killara%20before.jpg" alt=""></span></p>
<p><span>After some small extension work, floor plan re-configuration and a full internal renovation, the property re-sold in March this year for $6.1 million (pictured below).</span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/killara%20after%202.jpg" alt=""></p>
<p><span>"Of course there has been some market growth over this period too, but it is still a good example of the added value of quality renovation works.</span></p>
<p><span>"Situated on a good sized block with a highly desirable north-to-rear aspect and located in a well-regarded street, this was always going to see a substantial increase in value," the valuation firm said. </span></p>
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Upper North Shore Sydney sees increasing renovation activity: HTW residential 

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<p><span>If the queues at Bunnings are anything to go by, home renovation seems to be on the rise in western Sydney, according to the latest Herron Todd White (HTW) residential report. </span></p>
<p><span>The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</span></p>
<p><span>"Niggling jobs that have been put on the backburner are now being addressed, be it patching a hole in the wall, reconfiguring the rear garden or even a second storey extension," the valuation firm said. </span></p>
<p><span>Western Sydney is a diverse area for real estate and this allows residents a larger choice in property.</span></p>
<p><span> Families who have outgrown their existing property have a number of options such as upgrading to a new property in the growth areas or buy an existing dwelling and renovate, the report noted. </span></p>
<p><span>The north-west and south-west growth precincts have seen substantial development of new dwellings on smaller allotments over the past five years, with many buyers upgrading to these ready- made new products rather than undergoing an extensive renovation on their current dwelling.</span></p>
<p><span>"Given the lower price points in western Sydney compared to eastern Sydney, it is vital to analyse the current renovated sales to ensure you are not overcapitalising.</span></p>
<p><span>"This is particularly important for investors as it is dead money that could have been used elsewhere.Owner-occupiers may not be as concerned as over time these costs will be absorbed as the market improves," the valuation firm said. </span></p>
<p><span>For years, investors have been actively buying older run down properties in western Sydney and updating the dwellings to not only add value but increase rental return.</span></p>
<p><span>The addition of a well-placed granny flat in the rear yard further increases the yield for the investor.</span></p>
<p>An example where this has worked is at <a href="https://www.realestate.com.au/sold/property-house-nsw-whalan-132604618" target="_blank">12 Aitape Crescent, Whalan</a> (pictured below) in the Blacktown LGA.</p>
<p><span>This three-bedroom, one- bathroom dwelling sold for $366,000 in February 2019 and after undergoing a full renovation, sold </span>for $520,000 in February 2020 through Raine &amp; Horne Penrith.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/whalan%20before.jpg" alt=""></p>
<p><em>Before</em></p>
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<p><em>After</em></p>
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<p><span>"Regarding the cost to renovate, it seems that engaging a skilled tradesperson to complete some work is not a cheap exercise.</span></p>
<p><span>"One has only to look at the number of shiny, dual cab utes on development sites to see that skilled tradespeople are in hot demand, mostly thanks to the amount of infrastructure and construction within the Sydney metropolitan area," the valuation firm said. </span></p>
<p><span>In Prestons, the difference between a renovated and unrenovated entry level home is demonstrated by the results of two sales this year.</span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/prestons%201.jpg" alt=""></span></p>
<p><a href="https://www.realestate.com.au/sold/property-house-nsw-prestons-132770486" target="_blank">18 Cedar Road</a> (pictured above), an unrenovated property, sold for $676,000 in January, while <a href="https://www.realestate.com.au/property-house-nsw-prestons-133243622" target="_blank">32 Grevillea Crescent</a> (pictured below), with a basic internal renovation, mainly to the kitchen and bathroom, sold for $740,000 at the end of March.</p>
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<p><span>Whilst not a large uplift, it would easily cover the cost of completing the renovation works, the report noted. </span></p>
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Western Sydney home renovation on the rise: HTW residential 

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<p><span>The general sales activity and enquiry in Lismore, Richmond Valley and Kyogle areas have remained quiet, however, there does not seem to be any sense of a catastrophic drop in prices expected, according to the latest Herron Todd White (HTW) residential report. </span></p>
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<p><span>The valuation firm suggest in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. </span>This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
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<p><span>"Following the COVID-19 restrictions in place from early March 2020, the question frequently asked is “How will the property market react during and after COVID-19?” </span></p>
<p><span>"Nothing much has changed since our foray into this loaded question last month, apart from the fact that at least some restrictions are slowly being lifted," the valuation firm said. </span></p>
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<p><span>"Providing locals are able to get back to work or retain employment and regain some sense of normality, a few brave souls have hinted at a launching pad for the local property market to rise!</span></p>
<p><span>"Think about it; the unprecedented low interest rates are unlikely to rise quickly due to a willingness by government and lenders alike to encourage the country to get going again...and this could be a scenario for some time yet," the valuation firm added. </span></p>
<p><span>If a potential property investor, first home buyer or upgrader has all the boxes ticked for the lender, today could be a very good time to buy, the report noted. </span></p>
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<p><span>Rental accommodation queries remain relatively strong.</span></p>
<p><span>With interest rates now at record low levels, there are a number of opportunities some may not have considered outside of the desire to buy a new build. </span></p>
<p><span>Renovation could potentially feature in the minds of investors, developers, first home buyers and even upgraders. </span>Borrow a few dollars to put some new life back into the tired and dated home.</p>
<p><span>The report suggests the cost is naturally going to be a key ingredient in the decision making as well as the end value of the final product.</span></p>
<p><span>"The option to do this in the Lismore region is to find an established, three-bedroom, two-bathroom dwelling within the $300,000 to $400,000 price bracket," the valuation firm said. </span></p>
<p><span>For, Casino and Kyogle, a similar real estate product would be in the region of $250,000 to $350,000.</span></p>
<p><span>A three bedroom house in Casino was sold for $295,000 in April. </span></p>
<p>The home at <a href="https://www.realestate.com.au/sold/property-house-nsw-casino-132689386" target="_blank">15 Beith Street</a> (pictured below) comes with L-shaped lounge and dining, modern kitchen, home office and garden shed.</p>
<p><span>It is located close to the Golf Course. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/casino.jpg" alt=""></span></p>
<p><span>"There is no particular area of Lismore, Casino or Kyogle that has the upper hand on renovation activity.... diamonds in the rough can be found anywhere if you look hard enough," the valuation firm said. </span></p>
<p><span>"Renovating an established dwelling rather than commencing a new build can achieve a lot....if done properly." </span></p>
<p><span>A budget of less than $100,000 could provide an updated kitchen, bathroom, ensuite, general interior and exterior painting and floor coverings.</span></p>
<p><span>"Provided the renovation work emphasises the positive features that are already there OR introduces new features that the market place desires (do your homework for the areas you wish to invest or live in as each locality is different), then the cost to added value ratio could yield some reasonable capital gain....and nicer digs to reside in!" the valuation firm said. </span></p>
<p><span>However, the trick is not to over capitalise. </span></p>
<p>A good option is to seek out those large homes with only two bedrooms and a large living space, the report noted. </p>
<p>Cut the living room to provide a third bedroom and the rental would naturally improve to reflect that of a three-bedroom home.</p>
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<p><span>Older style, turn of the century homes are quite popular for those with an interest in timber and the old world appeal.</span></p>
<p>One good example is a property at <a href="https://www.realestate.com.au/sold/property-house-nsw-girards+hill-129516530" target="_blank">62 Cathcart Street, Girards Hill</a> (pictured below), out of the flood area and an easy walk into the CBD.</p>
<p><span>The property </span>is a beautiful, circa 1880s timber home with expansive verandahs and fully renovated interior that maintains the heritage character set amongst well established landscaping, trees and mature gardens.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/girards%20hill%201.jpg" alt=""></p>
<p>It sold for $880,000 in mid 2019, the price being a record for the suburb of Girards Hill in recent years.</p>
<p>However, the cost to renovate and maintain such prized, older-style, weatherboard homes needs to be strictly monitored as one could easily get carried away.</p>
<p><span>"In summary, from a conservative perspective, the purchase of an established house with opportunities to renovate would be a more viable option and purposeful stepping stone to something newer in the future without the millstone of large debt around the neck.</span></p>
<p><span>"There are land and house packages available today which are competitively priced but are still above the expected price for an established dwelling of average to moderate appeal.</span></p>
<p><span>"Besides, the established house does provide the opportunity for the owner to put their stamp of identity on </span>the renovation project whereas a house and land package is simply that - what you see is what you get and any subtle changes to the design could bring on a wallet attack." </p>
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Tips for renovating established dwellings in Lismore/Casino/Kyogle: HTW residential 

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<p>Well-renovated character homes in Byron are particularly desired in the market and could be targeted by a buyer renovating for profit, according to the latest Herron Todd White (HTW) residential report. </p>
<p>The valuation firm suggest in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.</p>
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<p><span>"One month on and what was a blurry view of the post-COVID-19 property market is slowly coming into sharper focus, however with updates on travel restrictions, infection rates and government assistance packages coming at us thick and fast, the situation could be best described as fluid.</span></p>
<p><span>"A month ago, we were staring down the barrel of a lock down into September. The latest, good news is that intrastate travel in New South Wales will now be allowed from the start of July. </span>This will be a welcome relief for the cash strapped tourism sector in Byron Bay and the surrounding shire," the valuation firm said. </p>
<p>The report notes whilst the lucrative overseas market and interstate market is still out of reach, any visitor numbers are better than no visitor numbers for now. That is the good news.</p>
<p>There is, however, mounting evidence that residential sale prices in the shire may have softened since the start of the COVID-19 pandemic.</p>
<p><span>The following three examples show that some sellers have had to accept lower sale prices post-COVID-19 after listing their properties pre- COVID-19.</span></p>
<p><span>Exact property addresses are not given to protect the vendor’s and buyer’s privacy, however these are confirmed sales unless stated otherwise.</span></p>
<p><span>1. Acreageproperty, Binna Burra. </span><span>Listedin February 2020 for $1.35 million. Sold in April 2020 for $1.2 million, an 11.1 per cent difference between list price and sale price.</span></p>
<p><span>2. Acreage Property, Nashua. </span><span>Listed in February 2020 with a price guide of $1.29 million to $1.41 million. Sold in April 2020 for $1.08 million, a difference between price guide and sale price of 16.3 to 23.4 per cent.</span></p>
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<p><span>3. Duplex unit, Byron Bay (under contract). </span>Listed in February 2020 with a price guide of $1.1 million to $1.2 million.Price guide adjusted in April 2020 to $995,000 to $1.065 million and is now under contract for $1.02 million, a difference between February price guide and sale price of 7.2 to ten per cent.</p>
<p><span>"Buyers and sellers should not be alarmed by these examples, but they should be alert to the fact that some properties are selling at prices well below the seller’s expectations," the valuation firm said. </span></p>
<p><span>In the current market, sellers should be keeping right up to date on what is happening in their locations and be prepared to listen to the market rather than their hearts.</span></p>
<p><span>Buyers too, need to do their research, as there appears to be the opportunity to purchase at the lower end of some sellers’ price expectations, the report noted. </span></p>
<p><span>"The bottom line is that there appears to be increased volatility across the market and at the moment, residential property can be expected to sell within a wider than usual price range," the valuation firm said. </span></p>
<p><span>The report suggests buying a property at the lower end of the price range increases the opportunity to renovate for profit.</span></p>
<p><span>Renovating for profit is, however, traditionally fraught with danger due to cost overruns, over capitalising and market movement. </span>It is best left to experienced renovators; novices need to tread carefully.</p>
<p><span>The Byron Shire is </span>largely established with only a small number of residential estates offering new builds in the hinterland localities of Mullumbimby and Bangalow.</p>
<p>There are many older units and houses in beachfront towns and hinterland localities that could be described as ripe for renovation.</p>
<p>The report notes well-renovated character homes (timber houses from 1900 to the 1960s) are particularly desired in the market and could be targeted by a buyer renovating for profit.</p>
<p>A renovated three bedroom house in Ocean Shores has recently been sold for $745,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-nsw-ocean+shores-132825202" target="_blank">51A Balemo Drive</a> home (pictured below) comes with multiple living spaces, modern kitchen, and undercover outdoor space. </p>
<p>It also features solar hot water system, yard with established trees and scope for potential granny flat. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/ocean%20shores.jpg" alt=""></p>
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<p><span>One of the more fashionable and profitable ways for owner-occupiers to add value to their properties in recent years has been the addition of a second dwelling or studio to their land.</span></p>
<p><span>The construction of a council-approved, self- contained bungalow or studio in a backyard has given many Byron Shire residents a steady income stream or somewhere for the extended family to live.</span></p>
<p><span>Notwithstanding the current over supply of rental properties brought about by COVID-19 (see last month’s Month in Review comments), there has been a shortage of properties to rent in the Byron Shire over the past few years and many homeowners and investors have sought to capitalise on this with a bungalow or studio addition.</span></p>
<p><span>Typically, a small two-bedroom studio or bungalow will cost around $175,000 to build, all in.</span></p>
<p><span>It will rent (depending on location) for approximately $375 per week or $19,500 per annum, gross rent.</span></p>
<p>A one bedroom home in <a href="https://www.realestate.com.au/property-house-nsw-mullumbimby-427810226" target="_blank">Mullumbimby</a> (pictured below) is currently on the rental market with a price guide of $365 per week.</p>
<p><span>The new home features open plan living, kitchen with gas cooking, separate bedroom and carport. </span></p>
<p><span>It is located within walking distance to town centre. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/10/mullumbimby.jpg" alt=""></span></p>
<p><span>"While you still have to factor in increased mortgage payments, management fees, vacancies, insurance premiums, etc., this represents a gross return of 11% on your investment.</span></p>
<p><span>"So, who wants to build a bungalow in Balgalow?" the valuation firm said. </span></p>
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