Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

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>

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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.

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<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>

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Ellen Walker

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

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BankWest is among those expecting first-home buyers to return to the market and has lowered its deposit requirements to seek their custom.
First-home buyers have been largely absent since the 2009 conclusion of the government first-home buyers’ boost, but estate agency Century 21’s chairman Charles Tarbey predicts first-home buyers and first-time upgraders will dominate the market during the traditional spring buying season.
“Most activity will be in the first-home buyer and upgrader segments. People that are looking to buy property under the $800,000 mark will be very active over the coming months,” Tarbey has told trade website Real Estate Business.
In Western Australia, BankWest is encouraging first-home buyers by offering a new home loan that allows first home buyers to purchase a property with as little as a 3% deposit.
BankWest has joined with property development companies Satterley Property Group and 30 other WA builders to offer half a billion dollars for the new 3% deposit home loan products, to be used exclusively by WA first homebuyers.
It is expected to be offered to about 1,500 borrowers who meet a minimum annual income threshold of $80,000 with the loans capped at $500,000.
Australian Property Monitors senior economist Andrew Wilson agrees with Tarbey, adding that an extended period of rate stability would help push first-home buyers back into the market.
Besides the rates stability Wilson says reduced competition for properties due to fewer buyers and more properties listed for sale is encouraging entry level buyers and “first-time change-up buyers”.
A rise in the number of first-time buyers taking out mortgages has been noted recently by Mortgage Choice.
Loans submitted by Mortgage Choice brokers on behalf of first-home buyers spiked to 35% of all loan approvals in June, compared with an average of 27% for the past year.
"What I'm starting to see is a return of first-home buyers to the market as housing prices are going through a mild correction, and as longer-term interest rates look like coming down," says chief executive Michael Russell.
According to figures by mortgage broker AFG, there was a brief uptake in first-home buyer numbers in spring last year. First-home buyer numbers increased from 20.6% of all loans written in August 2010 to 24.2% in September and 25.4% in October. But first-home buyer numbers fell back to 22.5% in July 2011, according to AFG.
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lschlesinger-FZcF9M3vE6

Low-deposit loans lures offered to first-home buyers

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{yoogallery src=[images/august31eureka]}
The full-floor four-bedroom, five-bathroom penthouse in Melbourne’s Eureka Tower is expected to fetch more than $13 million when it goes on sale next month.
Occupying the 84th floor of one of the world's tallest residential buildings, the 660-square-metre apartment boasts panoramic views of the entire city and bay from almost 300 metres above Riverside Quay Southbank.
It has been listed by some of Eureka's developers – Tab and Eva Fried and architect Nonda Katsalidis, who had kept the floor since the tower was completed in late 2006.
It has a marble elevator lobby, study, bar, formal living and dining areas, butler kitchen and main kitchen, home theatre and six car parks.
Its lighting, blinds, alarm system and doors can be controlled remotely.
It is to be listed through Sean Cussell from estate agency Marshall White.
According to Wikipedia, when measured either by the height of its roof or by the height of its highest habitable floor, Eureka Tower was the tallest residential building in the world when completed.
It is also currently the building with the most floors available for residential occupancy in the world.
The building stands 297 metres in height, with 91 storeys above ground plus one basement level.
It is one of only seven buildings in the world with 90 or more storeys and is the 50th tallest building in the world.
It is also the second-tallest building in Australia and the tallest building in Melbourne.
There are a total of 84 floors of apartments.
The Summit Levels (floors 82 to 87) contain only one apartment per floor, and each apartment had an original price tag of $7 million just for the empty space; purchasers were required to fit out the apartment at additional cost.
The tower has an observation deck on level 88, a restaurant on level 89, a communications room and balcony on level 90 and water tanks on level 90 and 91.
The Q1 penthouse, the highest apartment in the Surfers Paradise skyscraper, is perched near the top of Australia's tallest building. Q1 Tower, approved in 2001 and completed in 2005, is 322 metres tall. The penthouse last sold for $4.8 million October 2010, having initially sold in 2002 for $7.8 million.
Q1 is ranked the world's third tallest residential tower after the 348-metre building The Marina Torch in Dubai won formal recognition as the tallest residential building in the world on April 29, 2011. Q1 is the tallest building in Australia and the Southern Hemisphere when measured to the top of its spire and second tallest building behind Eureka Tower in Melbourne when measured to roof and highest habitable floor.
The Sunland development group built 74th floor penthouse has a sprawling size of 940 square metres.
People say the mania for tall buildings dates back to early Egyptian times; and for more than 3,500 years the world's tallest structure was the Great Pyramid of Giza.
It wasn't until 1311 that England's Lincoln Cathedral topped it at 160 metres, a record held until 1549, when its tower was destroyed in a storm. European churches held the mantle until 1884, when the Washington Monument took the title with 169 metres. In 1889 the record was topped by the Eiffel Tower at 300 metres.
In 1930 the Chrysler Building in New York came in at 319 metres, to be followed by the Empire State Building in 1931 at 381 metres. New York's World Trade Centre hit 420 metres in 1973, but it was bettered by the Sears Tower, at 442 metres, in Chicago in 1974.The Petronas Towers in Kuala Lumpur, Malaysia, weighed in with 452 metres in 1998 and Taipei 101 in Taiwan with 509 metres in 2003.
Last month, the Burj Khalifa in Dubai hit 828 metres.
It is unlikely to lose its mantle for a decade or more, at least until the next big property boom.
Phillip Anderson, in his recent book The Secret Life of Real Estate, concluded that the most reliable indicator of a looming property bubble was the announcement, or the start of construction, of a new tallest building.
Anderson says easy credit triggers egotistical competition for the world's tallest.
"The world's tallest buildings have had a distinct and consistent habit of being completed right at the top of the real estate cycle," he says.
"Skyscrapers are speculative projects, built mostly by developers with other people's money." Anderson, the managing director of Economic Indicator Service, argues that the confluence of tallest buildings at the end of real estate cycles has been evident since 1837.
Q1 Tower would have been overshadowed figuratively if two late 1980s proposed Queensland towers – Pat Zarro's at 445 metres or John Minuzzo's at 450 metres – had ever been constructed.
The Australian record price for an apartment is $19.35 million in the Mercy Hospital redevelopment in East Melbourne.
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jchancellor-FAypfDUnLy

Eureka Tower penthouse hoped to fetch sky-high price

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Australia’s population growth has slowed by close to 150,000 in just two years, with a 100,000 drop in the actual growth rate over the last 12 months.  As a result, the underlying demand for new housing has dropped from 180,000 starts per annum to around 125,000.  While dwelling starts are declining, we are now building too much stock.
Unless new housing starts decline in earnest or population growth accelerates, Victoria, South Australia, Tasmania and the Northern Territory face an oversupply.  Perth and Canberra are better positioned, with Queensland currently at equilibrium and New South Wales undersupplied.
Much of Victoria’s potential pain lies in Melbourne’s recent inner-city apartment boom, during which an unprecedented proportion of the state’s new dwelling starts are apartments.  This mostly speculator-fuelled surge has provided some very misleading media headlines of late about the rise of apartment living and how it is becoming the new Australian dream.  Yet two-thirds of Australians continue to buy a detached dwelling.
What?!  This cannot be right.  The housing industry and banking economists keep reminding us how undersupplied the Australian housing market is.  Don’t we have a shortfall of something like 300,000 new homes across the country?  And isn’t this shortfall going to double in size within the next decade?
But I ask you, with an average of 2.6 people per dwelling (as per the 2006 census), where are these 800,000-odd displaced people living?  Yes, too many are living it rough, but 800,000 people equate to two cities the size of Canberra or one and a half of the Gold Coast.  Where are all these people living?  I don’t see thousands sleeping in cardboard boxes in Queen Street, for example.
With this thought in mind, a few years back I started questioning the undersupply myth.  I, too, was guilty of its circulation, and maybe more so than others.  But once you look into the facts and ignore the spin, you find that Australia’s new housing market isn’t that undersupplied at all.  Yes, we don’t have enough affordable new homes (under $400,000 for two and three-bedroom stock), but we have an ample supply of new dwellings pitched at speculators.
Also, as I have outlined numerous times before, the housing industry is being forced to deliver the wrong stock, and that which is supplied costs way too much.  Ask yourself why new housing sales only a decade or so ago accounted for 30% of the total residential transactions in this country, but today they account for just 10%.  Hmmmm.  And if we are so undersupplied, why do developers need to sell their new dwellings overseas and increasingly via aggressive investment selling campaigns and expos?
So, why is underlying demand much less than the urban boosters want us to believe?
Spare capacity. The 2006 census showed that there were 830,000 unoccupied dwellings across Australia.  They aren’t all apartments on the coast.  They are second-hand homes, used only occasionally.  Estimates suggest that about 40% of them are detached homes and many are in inner- and middle-ring suburbs in our capital cities.  Since the GFC, our survey work suggests that about 10% of these have been used on a permanent basis – either via being rented out or sold to a buyer intending permanent use.
We also have spare capacity in terms of bedrooms, in both owner-occupier and rental stock.  In tough times these rooms are used.  We can fit more people in our existing homes and often comfortably.
Different migration mix While our high migration intake gets a lot of airplay these days, what is often not discussed (other than xenophobic rants) is the change in where these migrants come from.  Today, migrants from China, India, Africa and the Middle East equal those coming from our more traditional sources such as the United Kingdom, Europe and New Zealand. These new migrants often live in bigger family groups than the more traditional migrant mix (and older Australian households as well), which in turn is pushing up the average household size and reducing the need to build as many new homes. 
Rapid rise in Australian births. Another trend that is pushing up the average household size is the rapid rise in the country’s birth rate, with over 300,000 babies born in Australia last year alone.  The current federal baby bonus no doubt helped, as does the recent 18-week paid maternity leave scheme.
In contrast to recent media reports, this surge in births suggests a strong and rising demand for multi-bedroom dwellings and mostly detached.  Most of our new migrants, too, want to live in a detached house with freehold land rather than a tight apartment.
These three factors, we believe, have caused a paradigm shift in underlying housing demand.  Past trends would suggest that for each new person in Australia, we needed to build about 70% of a new dwelling.  The current need is to build around half a new home (45%) for each new person in Australia.  This suggests that the new Australian housing market is nowhere near as short-changed as most of the industry bodies would have us believe.
Our recent property investor survey found that most local investors don’t think that the new housing market is undersupplied.  In fact, many think that there are too many new dwellings (and importantly, without substantial points of difference) on the market at present.
Property sales-related businesses that continue to spruik “undersupply” are doing themselves and their developer clients a disservice.  More time and effort should be spent in meeting a market’s needs – and subsequently selling these design/locational benefits to buyers – rather than just relying on the standard spruiking formulae of “undersupply means price growth”.
The rental market, in general, however, remains tight.  What happens with interest rates, rents and the amount of stock (new and resale) for sale will direct dwelling price growth in coming years.  We expect a return to price growth, albeit anaemic when compared to that experienced during the noughties.  But this assumes that rents continue to grow by about 5% per annum, interest rates don’t rise too much (0.5% to 1% over the next 18 months) and that the number of properties listed for sale drops (down at least 20% on current levels) back to more sustainable levels.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

Australia's housing market is oversupplied. Yes, oversupplied 

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Despite a tightening of availability in the inner city, Melbourne’s overall July rental vacancy rates suggest the availability of rental homes continues to improve.
It is especially obvious in the outer suburbs, according to the Real Estate Institute of Victoria.
The rental vacancy rate increased from 2.2% to 2.5%, well above the 1.75% average for the past year.
“The reduction in population growth and increase in construction of new dwellings is now beginning to provide easier conditions for renters,” REIV spokesman Robert Larocca says.
“The availability of rental homes has been very poor for the past six years, and renters will welcome the recent increase in the vacancy rate.”
But with the vacancy rate below 3% there are still too few rental homes, Larocca says.
The REIV reports the highest level of vacancies was in the outer suburbs, where 3.2% of rental homes are vacant, a substantial improvement from June when the vacancy rate was 2.1%.
In the middle suburbs the vacancy rate is 2.6% – a small improvement from June’s 2.1%.
In the inner city there has been a slight tightening from 2.4 to 2.2%.
Rental homes in regional Victoria are still scarcer than in the metropolitan area, with a vacancy rate of 1.6% compared with 1.5% in June.
Bendigo still has the tightest rental market, with a vacancy rate of only 0.3% down from 0.5% in June.
In Ballarat the vacancy rate was stable at 0.8% and in Geelong there was a minor reduction from 2.4% to 2.1%, Larocca says.
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Melbourne rental vacancy rate eases, except in inner city

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The property doomsayers are at it again. <a target="_blank" href="https://www.propertyobserver.com.au/news/us-economist-predicts-australian-housing-crash/2011081551170">Recently </a>economist Harry Dent warned that the Australian market is looking much the same way the Japanese market did before its crash in the 1980s, when values fell by as much as 60%.
Of course, he’s not the only one who is predicting a significant correction in our property prices. Others are suggesting years, maybe even a decade of flat property values.
Of course there is nothing new about this. For all the years I’ve been involved in property, and that’s fast getting close to 40 years quicker than I would like, there have been groups of people who were “sure” that our property markets would collapse. And they would often give what sounded like sound arguments to back up their forecasts.
But those pesky house prices refused to behave!
Sure they’d stall for a while, occasionally for a few years in a row. Sometimes they’d drop a little – especially in volatile holiday locations or regional and mining towns. But when you took the overall median price of Australian residential property it has never really collapsed (other than after the Second World War, but then it recovered quickly.)
What’s really happening?
According to <a target="_blank" title="RP Data" href="https://%20www.rpdata.com">RPData-Rismark’s Hedonic Index</a>, Australian median house price fell 0.9% or $4,7000 in the last quarter and dropped just 2% or $10,600 over the last 12 months.
This effectively means no real change in value, which is remarkable given the general lack of market confidence, the negative media our property market has received and the persistent warnings of the property doomsayers. Of course the Australian share market frequently falls more than this in a single day.
Yes, housing is expensive…
Now I’m not denying that housing is fairly expensive in Australia, but there are some good reasons for this:
<ul>
<li>Australia has the largest dwellings in the world, and they are of high quality. This may be extravagant, but it’s the way we choose to live. </li>
<li>More of us want to live in houses on large blocks of land and close to the CBD where there is a shortage of supply, while in other mature cities a larger proportion of the population live in apartments. </li>
<li>We tend to live in six or so coastal cities – around the world coastal cities have always attracted a premium in property values.</li>
<li>We like to live in the suburbs close to the CBD and the water because they’re better serviced by amenities, facilities and public transport than the outer suburbs.</li>
<li>There is a lack of affordable land at the fringes of our major cities due in part to significant development and infrastructure costs.</li>
</ul>
The fact is that the high cost of housing is one of the prices we have to pay for living in the best country in the world.
Importantly, despite relatively high levels of household debt in Australia, the households that hold this debt can still service mortgages. Less than 1% of mortgages are in arrears in Australia, which is internationally low.
And it is comforting to know that 75% of all household debt in Australia is held by the top two-fifths of income earners – those who can most afford it.
In a recent <a target="_blank" title="Christopher Joye" href="https://www.propertyobserver.com.au/trends/economy/plenty-of-loose-change-keeps-aussie-house-prices-resilient-christopher-joye/2011081551165">blog </a>economist Christopher Joye explains that, contrary to popular belief, Australian housing has not really become less affordable over the years.
What about what happened overseas?
When the commentators make comparisons with the US markets, it’s the old story of comparing apples with oranges.
<ul>
<li>The US economy is in recession. The state of the Australian economy is the envy of most of the developed world.</li>
<li>The US housing crash was brought on by poor lending practices that allowed people to borrow more than they could afford to repay. Our banking system is sound here, as are our lending practices.</li>
<li>Americans built too many houses, leaving them with a huge oversupply. That’s not the same here, other than in a few selected areas such as the Gold Coast. But watch out… an oversupply is looming in the Melbourne and Brisbane CBDs.</li>
<li>There is huge unemployment in the US, yet here everyone who wants a job here can get one and our wages are rising.</li>
</ul>
What could cause our property markets to collapse?
 
The factors that could cause an Australian property market crash are:
<ol start="1">
<li>A recession – but I don’t know anyone who suggests we’ll be going into recession in the foreseeable future.</li>
<li>Massive unemployment meaning that people can’t afford to pay their mortgages – again this is unlikely in the near term.</li>
<li>A significant oversupply of properties – other than on the Gold Coast and in a number of our CBDs with a rash of off high rise projects being completed, we don’t have an oversupply of properties.</li>
<li>
High interest rates – the prospect of this has now been averted by the world’s financial turmoil. 
</li>
</ol>
 
Putting all this together, it is unlikely that a property crash is on the cards. 
While I have great confidence in the medium and long-term strength of our property markets, I recognise that despite sound fundamentals, market sentiment will cap property prices for some time to come. 
I can’t see a major change in market sentiment until a number of factors play out. We’ve lost confidence in our government, we’re concerned about the carbon tax and we’re unsure about the overseas economic turmoil. These issues won’t go away overnight. 
My recommendations: 
<ol start="1">
<li>
Don’t panic with all that’s happening in the world.</li>
<li>
Learn from history – every share market crash has been followed by a property boom in Australia </li>
<li>
Review your current property portfolio and your financial plans in light of what is going on around you.</li>
<li>
Refinance your property portfolio now if you can to top up your financial buffers. This will put more money in your kitty for any speed bumps that may come your way.</li>
<li>Take appropriate action <ol start="1">
<li>This may be to sell assets that will underperform in the new financial era, or it may be to buy more assets.</li>
<li>Set yourself and your family up to take advantage of the inflationary times ahead by owning properties that will grow in value at above average rates of capital growth.</li>
</ol>
</li>
</ol>
 
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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myardney-DFoGhGbSJX

Relax, house prices are not likely to crash

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{yoogallery src=[images/stories/august16kurkulla]}
Kurkulla, the former 1880s Bowral schoolhouse in the NSW Southern Highlands, has been sold for about $4.4 million.
The residence, which is on Evans Lane near the town centre, was restored and extended under the guidance of architect Howard Tanner in 2000.
With a new two-storey wing, the five-bedroom brick-and-timber residence features high ornate pressed ceilings, jarrah floors and eight fireplaces.
There is a heated pool and a tennis court with lights on its 1.5-hectare grounds with Catherine Lewis landscaping.
Kurkulla sold through Di Dixon of Ian Rayner Real Estate in conjunction with Bill Bridges of Ballard Property.
It ceased being a boarding school for boys in 1909 when purchased by Ada Evans and her brother.
Evans was the first woman to graduate from the law school at Sydney University, but was refused admission to the bar because the law at that time disqualified woman from practising.
Her battle culminated in the Women's Legal Status Act of 1918 being passed by the Holman government. However, becoming the first woman in NSW to qualify for admission to the bar meant two further years of study.
Evans lived in Kurkulla from 1909 until her death in 1947.
It has been sold through by the Kennedy family, who bought it from the Grattan-Smith family for $4.375 million in 2006. The buyers are said to have come from Canberra.
The Southern Highlands has shown glimpses of activity, including the sale of <a href="https://www.propertyobserver.com.au/news/southern-highlands-buyer-found-after-four-year-pursuit/2011061450481" title="The Chase Sutton Forest" target="_blank">The Chase at Sutton Forest</a>. Its most noteworthy listing is Riverbend at <a target="_blank" title="Jimmy Barnes lists Berrima home" href="https://www.propertyobserver.com.au/new-south-wales/jimmy-barnes-lists-highlands-weekender-on-eve-of-cold-chisel-tour/2011080251008">Berrima by the singer Jimmy Barnes</a>.
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Former schoolhouse in Southern Highlands sold for about $4.4 million

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Potential buyers of the four-storey building tenanted by all-night Sydney drinking hole Jackson's on George are being enticed with the prospect of being part of a proposed new city square in the heart of the Sydney CBD.
The bar occupies the entire 485-square-metre site at 174 to 176a George Street in the Sydney CBD and is opposite the Four Seasons Hotel. It has occupied the site since 1987 and trades 24/7 except on Christmas and Good Friday.
<img src="/images/stories/jacksonmap.jpg">
The square, known as “APDG block”, is bordered by Alfred, Pitt, Dalley and George streets.
Under the proposal, the Rugby Club directly behind Jacksons on George would be turned into Rugby Lane, a pedestrian laneway with opportunities for alfresco dining and “other night-time activities”.
It is being sold by well-known Sydney publican Chris Crawley, managing director of Marsico Holdings, who will use the cash to expand elsewhere.
Crawley, who recently closed his Jordons Seafood Restaurant at Darling Harbour, told the Fairfax press he would retain the Jacksons on George licence and premises until the new owner redeveloped the site
The building – constructed in 1975 – last changed hands for $14.5 million in 1989.
According to the investment report, the bar brings in income of about $1.5 million annually.
The property is being sold by Stephen Kovacs and Vince Kernahan from Colliers.
Kovacs says the building’s strong selling points are its prime George Street location, long-term lease and future development potential.
“There is the potential uplift from the redevelopment of surrounding properties and the possible inclusion of the subject property in one of the developments,” Kovacs says.
In addition, he says its value will be enhanced if the council proceeds with its vision of a new city square and a light rail line along George Street.
The building is being sold by expressions of interest closing on September 8.
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Jackson's on George building hopes to draw investors with city square plan

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While <a target="_blank" title="ABS figures" href="https://www.propertyobserver.com.au/residential/varied-outlook-on-home-approvals-front/2011083051350">yesterday’s release of the latest Australian Bureau of Statistics building approvals figures</a> show dwelling approvals increased 5.4% in July in New South Wales in seasonally adjusted terms, the trend estimate for the total number of dwelling units in the state has shown falls for seven months, declining 2.5% in July.
The trend estimate for the number of private sector houses in New South Wales fell 0.7% in July and has now fallen for five months.
The latest figures illustrate the unsustainable nature of the residential market unless action is taken to address the critical undersupply.
It’s no secret that the housing market is facing a challenging time. Economic uncertainty at a global level has filtered down to the local market and is having a slowing effect.
This slowdown is not only limited to transactional activity, but also to development activity. But the fact remains that, in terms of population growth, the need for an increase in residential development has never been greater.
Around a third of Australians live in New South Wales and in 2010 the state recorded population growth of 1.2% according to the ABS, largely in line with the national average.
Natural population increase and net overseas migration continue to place pressure on the new housing market, which is failing to keep pace. Government intervention is necessary, and the timing has never been more important.
It’s all well and good for government to offer first home buyers stamp duty incentives for off-the-plan purchases on lower priced stock, yet there is comparatively little new stock being developed that the benefits of the incentive program are not being maximised.
The NSW government claims it is committed to supporting young people with their first home purchase, yet the associated costs of developing new residential supply remain a significant barrier to developers.
Government must work with councils to identify and implement a more cost-effective and efficient approval process to get development applications – many of which are still sitting idle –across the line.
Despite the announcement of measures designed to ramp up the level of greenfield development, until excess red tape and issues related to the provision of infrastructure are addressed the shortage of supply will continue to stifle the market.
Declining building approvals is putting upward pressure on rents at a time when vacancy rates are already very low, meaning tenants are being left with very few options.
This trend is also impacting the number of first homebuyers capable of entering the market, as consolidating that all important deposit is a challenge in itself.
In particular there seems to be a severe lack of stock under $600,000 in most Sydney suburbs, which is directly impacting the ability of first homebuyers to gain a foothold in the market.
As the gap between approvals and population growth continues to widen, so too will rents.
Leanne Pilkington is general manager of<a href="https://www.laingsimmons.com.au/" title="Laing + Simmons" target="_blank"> Laing + Simmons</a>
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lpilkington-GWhcD9raad

New housing stock is needed urgently

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NSW’s non-residential stamp duty revenue has gotten off to a good start in the latest financial year boosted by premium commercial sales. 

The latest Office of State Revenue data reveals the overall annual transfer duty tally from commercial sale has gone up despite fewer sales,<a target="_blank" title="Stamp duty hasn't fallen off a cliff" href="https://www.propertyobserver.com.au/residential/stamp-duty-revenue-hasn-t-fallen-off-a-cliff-despite-slow-nsw-sales-volumes/2011083051349"> much as it has for residential property</a>. 

There was $616 million in commercial stamp duty paid in the last financial year after purchases by 10,881 investors.

In the 2009-10 financial year 12,972 investors paid a slightly lower $597 million in stamp duty.

The July commercial sales volumes were the slowest in recent years, with just 865 commercial property transactions, but investors paid $54 million in stamp duty last month, which was the highest July level since the 2008-09 financial year.

There were 1,078 sales in July 2010, with the peak years in recent times being 2,160 in July 2008 and 2,252 sales in July 2007.

The figures provide an uncertain backdrop to next week’s first O’Farrell government state budget.

Treasurer Mike Baird and Premier Barry O'Farrell have warned of a "tough" budget, due next Tuesday.
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Fewer commercial sales, but prices underpin NSW stamp duty revenue

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Perhaps offering some hope on the home construction front, private sector housing approvals picked up in NSW and Victoria over July, according today’s ABS data.
On a seasonally adjusted basis, NSW registered a 4.6% improvement, while Victoria recorded an 8.7% uptick.
The worst-performing state was Queensland, where housing approvals declined 14.5% over the month.
Nationally, private sector housing approvals fell 0.2% in July, are down 4.1% for the July quarter and down 13.1% over the last 12 months.
Westpac called the Queensland result “disconcertingly large” and commented that the state still showing no signs of a rebounding.
The HIA described the 1% increase in seasonally adjusted building approvals over July as “modest” result, noting that they are down by 6.4% over the three month period.
NSW was the only state to record an improvement in total dwelling approvals – up 5.4% in July, with Victoria down 3.1%.
Nationally, the estimate for private sector housing approvals fell 0.2% in July 2011 following a fall of 3.3% in the previous month while the value of total residential building fell 1.2% and the value of non-residential building fell 9.7%
Westpac described the small drop in private sector houses in July as a “reassuring result, suggesting the 3.3% fall in Jun is not necessarily the beginning of another significant re-weakening”.
However, it warns that the 1.4% decline in private sector units approvals is a further sign that this sector is “experiencing a lagged downturn that may still have some way to run”.
HIA’s senior economist Andrew Harvey noted the 0.1% decline in total detached houses (both private and non-private) over the month, which he said “further highlights the weakness within the new home building industry at this point in time”.
“Twelve months of trend decline in approvals in part reflects the weak business and consumer sentiment that exists in the non-resource economy at the moment,” he says.
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