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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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Lenders mortgage insurance provider Genworth has come out in support of a mandatory fact sheet educating home buyers about the insurance cover.
Genworth along with QBE LMI (formerly PMI) are the two biggest providers of this type of insurance, which is required where home buyers borrow more than 80% of the value of the property.
LMI, a once-off premium paid for by the home buyer, covers the lender for any shortfall between the value of the mortgage owed and value of the house in the event that the home buyer defaults and the lender is forced to sell the house.
It is often confused with mortgage protection insurance, which covers borrowers for the payment of their mortgage instalments in the event of unforeseen circumstances such as unemployment, illness or death.
The one-page fact sheet, aimed at helping consumers “understand the costs and benefits of lenders' mortgage insurance when they take out a home loan” was announced by federal treasurer Wayne Swan over the weekend.
“The aim is to allow consumers to compare quotes side-by-side, including the difference in premiums and rebate schedules, helping them get the deal that's right for them,” Swan says.
“This will help home buyers compare apples with apples when it comes to shopping for lenders' mortgage insurance.”
The Treasury advised against the introduction of a scheme to allow the transfer of lenders' mortgage insurance between lenders because it would be “expensive, extremely complex to implement and administer, and would likely benefit less than 1% of all borrowers”.
This is also supported by Genworth.
Genworth expects the mandatory fact sheet could be similar to the Government’s Key Fact Sheet for home loans, and could be handed out by lenders just prior to borrowers signing their home loan contract.
“Genworth believes it is important that homebuyers know how Lenders Mortgage Insurance works and the benefits it offers, plus their potential rights in relation to existing refund schedules if they switch home loans,” says Genworth CEO Ellie Comerford. 
According to Genworth, about 90% of loans to first home buyers are supported by LMI.
The one-page LMI fact sheet was announced on the back of recommendations contained in former RBA governor Bernie Fraser’s report ‘Banking Services: Cost-Effective Switching Arrangements’ and is due to be implemented in July 2012
The report recommends a new "tick and flick" service making it easier for consumers to switch to another bank, building society or credit union if their existing institution isn't providing good value and service.
From July next year customers will sign just one form that authorises their new financial institution to do “all the heavy lifting for them” including arranging the transfer of all automatic transactions linked to the customer's account and inform associated creditors and debtors about the new account details
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lschlesinger-FZcF9M3vE6

Mortgage insurance provider Genworth welcomes wider customer know-how

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The riverside suburb of New Farm is one of six Brisbane suburbs to record house price increases in excess of 10% over the year to June, according to the Real Estate Institute of Queensland.
It was also one of 66 Brisbane suburbs to record an increase in house prices over the year.
New Farm, located on the north-eastern shore of the Brisbane River, two kilometres from the CBD, was one of the hardest hit by the January floods.
The New Farm median house price increased by 14.6% to $1.1 million over the year to June 2011. The figures do not show sales volume, which may have contributed to the higher-than-expected change in median price.
An indication of how quickly the suburb has recovered was reflected in New Farm Park, just metres from the river’s edge, receiving Brisbane City Council's Pride Award as part of its Spotless suburb awards in July.
Earlier in August RP Data reported that New Farm had the highest number of properties for sale in flood-affected regions – 287 properties compared with 257 at the same time last year. The biggest median house price increase (18.3%) was recorded in Seventeen Mile Rocks, located 11 kilometres southwest of the Brisbane CBD and also on the Brisbane River.
Not all Brisbane riverside suburbs demonstrated similar house price growth, with the inner-city suburbs of Hawthorne and West End both recording price declines in excess of 11%.
Overall, the median house price in Brisbane decreased 1% to $510,000 over the June quarter and is unchanged over the year ending June.
<table style="width: 470px;" border="0" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td class="mceSelected" valign="bottom" width="162">
Region
</td>
<td valign="bottom" width="73">
Median Sale 12mths Jun11
</td>
<td valign="bottom" width="73">
Median Sale 12mths Jun10
</td>
<td valign="bottom" width="56">
1yr change
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
ALDERLEY
</td>
<td nowrap valign="bottom" width="73">
$685,000
</td>
<td nowrap valign="bottom" width="73">
$600,500
</td>
<td nowrap valign="bottom" width="56">
14.1%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
DOOLANDELLA
</td>
<td nowrap valign="bottom" width="73">
$429,500
</td>
<td nowrap valign="bottom" width="73">
$377,000
</td>
<td nowrap valign="bottom" width="56">
13.9%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
NEW FARM
</td>
<td nowrap valign="bottom" width="73">
$1,100,000
</td>
<td nowrap valign="bottom" width="73">
$960,000
</td>
<td nowrap valign="bottom" width="56">
14.6%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
PULLENVALE
</td>
<td nowrap valign="bottom" width="73">
$1,080,000
</td>
<td nowrap valign="bottom" width="73">
$970,000
</td>
<td nowrap valign="bottom" width="56">
11.3%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
SEVENTEEN MILE ROCKS
</td>
<td nowrap valign="bottom" width="73">
$ 620,000
</td>
<td nowrap valign="bottom" width="73">
$524,000
</td>
<td nowrap valign="bottom" width="56">
18.3%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
WOOLOOWIN
</td>
<td nowrap valign="bottom" width="73">
$749,350
</td>
<td nowrap valign="bottom" width="73">
$672,500
</td>
<td nowrap valign="bottom" width="56">
11.4%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162"></td>
<td nowrap valign="bottom" width="73"></td>
<td nowrap valign="bottom" width="73"></td>
<td nowrap valign="bottom" width="56"></td>
</tr>
<tr>
<td class="mceSelected" valign="bottom" width="162">
Region
</td>
<td valign="bottom" width="73">
Median Sale 12mths Jun11
</td>
<td valign="bottom" width="73">
Median Sale 12mths Jun10
</td>
<td valign="bottom" width="56">
1yr change
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
ASCOT
</td>
<td nowrap valign="bottom" width="73">
$1,080,000
</td>
<td nowrap valign="bottom" width="73">
$1,202,500
</td>
<td nowrap valign="bottom" width="56">
-10.2%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
HAWTHORNE
</td>
<td nowrap valign="bottom" width="73">
$750,875
</td>
<td nowrap valign="bottom" width="73">
$882,444
</td>
<td nowrap valign="bottom" width="56">
-14.9%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
MANLY
</td>
<td nowrap valign="bottom" width="73">
$576,000
</td>
<td nowrap valign="bottom" width="73">
$675,000
</td>
<td nowrap valign="bottom" width="56">
-14.7%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
STRETTON
</td>
<td nowrap valign="bottom" width="73">
$597,500
</td>
<td nowrap valign="bottom" width="73">
$670,000
</td>
<td nowrap valign="bottom" width="56">
-10.8%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
TARINGA
</td>
<td nowrap valign="bottom" width="73">
$665,000
</td>
<td nowrap valign="bottom" width="73">
$800,000
</td>
<td nowrap valign="bottom" width="56">
-16.9%
</td>
</tr>
<tr>
<td class="mceSelected" nowrap valign="bottom" width="162">
WEST END
</td>
<td nowrap valign="bottom" width="73">
$725,000
</td>
<td nowrap valign="bottom" width="73">
$817,500
</td>
<td nowrap valign="bottom" width="56">
-11.3%
</td>
</tr>
</tbody></table>
 
“The Queensland property market continues to be impacted by lower consumer confidence and the uncertain nature of the global economic situation, including the recent pronounced stock market jitters around the globe,” says REIQ managing director Dan Molloy.
“The number of buyers active in the Queensland marketplace is still well below long-term averages and until there is more certainty surrounding interest rates and the global financial landscape generally this circumstance is unlikely to turnaround before next year.”
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Brisbane property market split as half rise and half fall in price

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<img style="border-style: initial; border-color: initial;" src="/images/stories/salisbury.jpg">
<img src="/images/stories/6point62.jpg" style="border-style: initial; border-color: initial;">
The weekend’s top sale was on Salisbury Street, Balwyn, through Jellis Craig.
There were four bidders, according to Kate Agnoloto from James Buyer Advocates. Auctioneer Peter Batrouney spoke of the Melbourne vendor who had purchased the property (pictured above and below) in 1979 for $325,000 which stirred a reaction from those in attendance.
The 3,977-square-metre property, known as Tennessee, comes without any restrictive grading or covenants, with the block lending itself to an exclusive residential enclave development – much to the concern of the neighbours, who plastered posters about their fears on auction eve.  
<img src="/images/stories/salisbury2.jpg">
But Paul Keane from Jellis Craig Glen Iris expects it to remain a single residence. But presumably the fate of the large 1929 residence would be now in doubt given the $6.62 million outlay. It comes with championship size north-south tennis court, pool and full cabana facilities. There’s even a deep-water bore.
<img src="/images/stories/salisbury3.jpg">
A vendor bid of $5 million commenced proceedings. When bidding reached $5.81 million it was announced on the market with competition between the remaining two bidders.
 
<hr>
<img src="/images/stories/59.jpg">
 
The weekend clearance rate for both Melbourne and Sydney was 59%.
 
<hr>
<img src="/images/stories/107.jpg"> 
Of the 167 passed in at Melbourne auction, the REIV noted 107 were on a vendor's bid, highlighting the toughness of the auction crowds.
“But before we hit the panic button, we still believe it’s a price-matching issue, not an underlying demand issue,” says buyers’ agent Mal James.
“Sellers who aim to meet the market rather than their dream price are still selling if their home is half-decent.”
 
<hr>
<img src="/images/stories/12num.jpg"> 
There were just 12 vendor’s bids across Sydney according to Australian Property Monitors. Some 40 others were passed in with unacceptable buyer bids and there were four no-bid results.
 
<hr>
<img src="/images/stories/400num.jpg"> 
Sydney has 400 auctions this Saturday, according to Australian Property Monitors research analyst Clinton McNabb.
 
<hr>
<img src="/images/stories/615.jpg"> 
There will be 615 auctions in Melbourne this Saturday, according to Real Estate Institute chief Enzo Raimondo.
 
<hr>
 
<img src="/images/stories/177.jpg">
Sydney’s top reported sale was yet again under $2 million. It was an offering on Third Avenue in Willoughby through John Curtis at McGrath. The listing last sold in 2000 at $870,000.
 
<hr>
<img src="/images/stories/740k.jpg"> 
Adelaide’s top sale, according to APM was a 1998 built, two-storey Plympton house with five bedrooms that sold through Anthony Fahey at Ray White Henley Beach. The Crews Crescent house last sold for $715,000 in 2009.
 
<hr>
<img src="/images/stories/950k.jpg"> 
Josh and Jenna had The Block’s highest reserve at $950,000, but the house was passed in at 901,000. The other reserves were Katrina and Amie: $860,000  Rod and Tania: $850,000; Polly and Waz: $840,000.
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jchancellor-FAypfDUnLy

Balwyn takes top weekend calling

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<img src="/images/stories/exo1.jpg">
<place><placename>Victoria</placename><placename>Harbour</placename></place>’s latest residential complex, Lend Lease’s Exo building, is 50% sold three weeks after coming onto the market.
The building will comprise 32 one-bedroom apartments of about 55 square metres, which start at $395,000. It will have 64 two-bedroom apartments, which range from 79 square metres to 93 square metres and start at $665,000. Lend Lease brought them onto the market on July 31.
<img src="/images/stories/exo2.jpg">
Exo will be have a distinctive perforated white façade, with its irregular holes designed to bring to mind river rocks or forest paths. It was designed by Lend Lease Design’s architectural team.
<img src="/images/stories/exofacade.jpg">
“Exo is the latest in a line of commercial and residential projects adding panache to Melbourne’s Victoria Harbour precinct – a unique fusion of city and water,” says Lend Lease Victoria Harbour project director Claire Johnston.
The development will back onto <street><address>Collins Street</address></street>, and although its address is technically <street><address>Merchent Street</address></street>, Lend Lease aims for it to be “characteristically <street><address>Collins Street</address></street>”.
<img src="/images/stories/exo3.jpg">
The building will be designed to be both part of the city and apart from it, much like the burgeoning Docklands precinct itself.
“The design demonstrates an innate understanding of the need for sanctuary from the hustle and bustle of urban life, with each apartment purposely designed to maximise space and minimise noise, allowing residents to reside in the heart of the city without having to compromise on their quality of living,” says Johnston.
The 10-year-old Docklands precinct has been something of an urban experiment, with the new suburb home to 15,000 residents and a growing number of businesses. Companies like Myer, NAB and ANZ are headquartered in Docklands on the eastern fringe of Melbourne CBD, and they bring thousands of young professionals to the area every day. The ANZ building alone is full of 6,000 office workers on a busy workday.
Lend Lease aims to provide accommodation for the influx of workers, with investors and young professionals its target demographic for Exo. Docklands is expected to house 30,000 people by 2021.
“The <placename>Victoria</placename><placename>Harbour</placename> retail precinct offers a selection of cafes, restaurants, shops and convenience stores, including a Safeway supermarket, and of course <street><address>Collins Street</address></street> extends into <place><placename>Victoria</placename><placename>Harbour</placename></place> and offers a convenient tram service to the CBD. Exo will also contribute to the growth of the area with the inclusion of seven retail shops at the base of the building,” Johnston says.
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cknowlton-QnEa6ntUYP

Docklands development half sold in three weeks on market

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Houses in the Northern Territory are growing as big as Top-End tales about the last big catch, while the penchant for big houses in resource-rich Western Australian and Queensland remains strong. 
The Northern Territory’s house size growth spurt is defying a national trend, with developers such as Stockland starting to build smaller houses and declaring that the era of the McMansion at an end. 
<img src="/images/stories/nthouses.jpg">
As of March 2011, the average size of a new house built in the Northern Territory has soared to over 260 square metres according to ABS statistics compiled on behalf of insurer CommSec. 
While NSW continues to build the biggest houses (269.7 square metres), house sized peaked in 2007. 
However in the space of nine months, the size of an average new house in the Northern Territory has increased by about 30 square metres to 263.5 square metres. 
Put into context, in 2002, the average size of a Northern Territory house was about 183 square metres, almost exactly the same size of new apartments being built in the region. 
A search across Realestate.com.au reveals a five-bedroom town-house measuring 1,160 square metres in Fannie Bay, Darwin, up for sale by Rick Trippe (pictured) from Knight Frank. It includes a rainforest-style garden. 
The house is currently returning weekly rent of $1,1oo and asking in excess of $1.3 million. 
The Northern Territory also builds the nation’s biggest apartments (182.9 square metres) with the next biggest being in in Western Australia at just 141 square metres. 
In Queensland the average size of a new house is 250.6 square metres (compared to 232.8 square metres ten years ago) while in Western Australia houses are marginally smaller at 244.9 square metres (compared to 229.4 square metres). 
Overall, the new data confirms that Australia is still building the largest homes in the world, but according to CommSec economists Craig James and Savanth Sebastian, the size of houses has now peaked. 
According to the ABS statistics the average floor area of new free-standing house in Australia stands at 243.6 square metres in March 2011. 
The average size across both houses and apartments in Australia 214.1 square metres compared to 206 square metres in 2002-03. 
<img src="/images/stories/homesize.gif">
The building of a larger number of smaller apartments over the past two years, resulting in a reduction of the average home size. 
In the nine months to March the average new apartment was 133.7 square metres, the smallest result in a decade. 
According to Stockland chief executive for residential communities Mark Hunter, the average four-bedroom home had shrunk 20% since 2007.
Hunter says smaller three-bedroom, two-bathroom homes are "the new sweet spot" in the market.
Energy, maintenance and building costs are all contributing to smaller houses becoming more fashionable.
Despite peaking, new homes in Australia are about 10% bigger than in the US and 9% bigger than in New Zealand.
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Houses leap in size in Top End

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In <a href="https://www.propertyobserver.com.au/residential/land/understanding-land-valuation/2011080851071" title="Understanding land valuation" target="_blank">part one </a>of a two-part series on land valuation, we examined the nuts and bolts of what you need to know. In part two, we talk about the people who are part of the process: valuers and real estate agents.
VALUERS 
Valuations are ordered when a definitive value for a property where finance, settling a dispute, or establishing the value of a deceased estate is required. 
There are many valuation firms that are hired both by buyers and buyers’ agents, vendors and developers and lending institutions, bringing an independent eye that can provide essential knowledge to ensure that all parties can make an informed decision about a particular property on the market and its deemed market value.  The valuation of residential property is a diverse field and includes suburban residential, prestige homes, beachfront dwellings, thousand-lot multi-stage residential subdivisions to smaller scale unit developments and commercial/retail. 
A certified practising valuer will conduct a full inspection of the nominated property, carry out research and analysis into the local market with comparisons to recent sales and submit a detailed report providing information and commentary on issues affecting the current market value of the property. 
Typically reports include:
<ul>
<li>An executive summary detailing the property and business.</li>
<li>A site appraisal specifying;</li>
<li>Land particulars </li>
<li>Improvements </li>
<li>Market comments </li>
<li>Income analysis </li>
<li>Sales evidence </li>
<li>Rationale </li>
<li>A valuation reporting summing up the analysis. </li>
</ul>
There are three ways a valuer may value the subject property:
<ol>
<li>Full value – this involves the valuer undertaking a full inspection of the property, including an internal inspection.</li>
<li>Kerbside – the valuer literally stops outside the property and does not undertake an internal inspection.</li>
<li>Desktop – this involves the valuer collecting comparable sales data based on the description of the property and where no physical site inspection takes place. 
</li>
</ol>
Depending upon who has ordered the valuation determines how they will use it.
For buyers who are not sure if they are paying too much or how much to offer, <a title="Property Checks" href="https://htw.com.au/services/researchcentre.aspx"></a>a pre-purchase valuation will give reassurance about the price and many other aspects of the property before an offer is made.  As a buyer, you can use the valuation to your advantage as a bargaining tool if the valuation comes in lower than the vendor is asking.  You may also be able to do your own research and provide the valuer with comparable sales that are favourable to you.  The valuation may also confirm that what you intend to offer or what the vendor is asking is market value – but it doesn’t hurt to always put in a lower offer – you just never know if the vendor will accept or not. 
When ordering your independent valuation, you may ask for it to be formatted so that it can also be submitted to the bank in their formatted criteria and ask for it to be assigned to say in two bank names, therefore when the time comes for the bank to order a valuation, you have one on file that hopefully matches what you are trying to achieve – lower than market value or at least on contract price.  You may also be able to ask the bank to provide you finance based on the higher valuation, rather than contract price, therefore providing you with a higher loan-to-valuation ratio. 
When selling, present the valuer with information including recent comparable sales and points about your property that presents it in the best light.  Ensure the presentation reflects the price you are trying to achieve, e.g. gardens are manicured, cleaned fixtures and fittings throughout the property, declutter or accessorise fashionably. 
On the flipside, if you want a new valuation on your existing asset base so you can draw upon the equity to further your portfolio, this is when it would be in your interest to get the valuation as high as possible.  
<ul>
<li>For developers and vendors, the report will give them an idea of how to market their property and at what price point.  Too high a price and they won’t get the buyers they require, too low a price and they won’t make the profit margin they projected.  Again, an independent valuation is a tool they can use to provide buyers proof that what they are asking is fair market price.</li>
<li>Lending institutions will always order a valuation when you are taking out a loan for a new purchase or if you want to draw equity from your existing portfolio.  They need to know that the money they are lending you is financially secured by that asset and this will form the basis of their LVR (loan to value ratio) and will also provide them with a realistic sale price should they need to sell the property quickly (normally referred to as a fire sale).</li>
</ul>
Find out which valuers sit on particular banks panels by either asking the bank, broker or asking the valuer themselves.  Also find out which areas they usually value and what types of properties they value.  A bank won’t accept a valuation if the valuation firm is not on their panel.  
REAL ESTATE AGENTS 
A real estate agent has the obligation to get the best price for the vendor and will use databases and their knowledge of the local market and recent sales to provide a “market appraisal” when you wish to sell your property.  These appraisals are intended as a guide only and are not the definitive price which may be achieved for that property. 
Appoint an agent who is acutely familiar with your suburb and who does not work outside the area.  An agent who works outside of the area may result in an appraisal that is too high and not achievable, or too low essentially providing a property below market value. 
Be wary of agents who quote an extremely high price and therefore providing you with an unrealistic expectation of the final sale value.  They may be doing this just to get your business and you may wonder why you do not have any viewings.  Vendors are soon conditioned to lower their asking price to meet the market feedback.  Again, conduct your own due diligence on pricing in your local area. 
On the other hand, agents who value too low not only hurt the vendor with the end result, but can ultimately bring down values of an area if the sale is then used as comparable data with professional valuation firms and professional property databases, such as RP Data. 
As a buyer, using the services of professional database firms and independent valuers as a tool for your negotiation with the vendor and agent, plus finding out the true motivation for that sale (e.g. bought elsewhere, divorce, financial stress) and using it to your advantage, may assist you in saving thousands of dollars and purchasing that property under market value. 
If your offer has been accepted at a particular price and the valuation comes in very low after the initial offer period, I would ask for strong evidence as to why you would continue with the purchase at original agreed price based on the valuation you have received. 
At the end of the day, true market value is achieved when both parties agree on the final sale price and a settlement occurs. 
Although investing can be fun, exhilarating, scary and heart-stopping, it’s still a business and should be treated as such because that investing business could be worth millions.  I myself have called our investing “B’dearys Vision”.  It gives it a name and therefore is treated as a business entity.  Just because you like the tiles in the bathroom or the swimming pool or the colour of the walls does not necessarily make it a great investment, and it may cost you dearly investing with your heart.
While every effort has been made to ensure accuracy of this article, please refer to your state or territory’s Valuer General’s Office or Office of State Revenue for more detailed information and seek independent advice pertaining to a particular purchase.
Swarnie Condon is passionate about property investment with a total of nine properties in her portfolio.  Swarnie is co-author of the book Journeys Along the Property Path and founding partner of<a href="https://www.ipip.com.au" title="Inspirational People in Property" target="_blank"> Inspirational People in Property</a>.  Swarnie provides free mentoring services.
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swarniecondon-aTY2bgqmPh

The people involved in land valuation

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Buying property is the biggest investment decision most people make in their lives. Yet surprisingly, many Australians buy property with little or no investigation into the factors that drive individual property performance. 
Instead, they base their decision on assumptions, inadequately researched or incomplete information or third-party assurances that the property they are considering will provide them significant return on investment. 
Unfortunately, in the digital age misinformation is prolific and the cause of many poor investment decisions. Even well-trusted beliefs can prove misleading for the most experienced homebuyers and investors. 
However, questioning the validity of property clichés and commonly held assumptions can help both buyers and sellers make better informed decisions when it comes to investing for their future. 
Location, Location, Location:
The most well-known property cliché, location, is quoted as the quintessential factor when it comes to property selection. But, what many buyers fail to realise is that location is far more than just the right suburb or even the right street – it is as specific as the lot number or position in a block of units. 
While neighbouring properties may appear similar in many ways, factors such as aspect, orientation, floor plan and levels of natural light, not to mention security, all have an important impact on property value beyond the underlying land value. 
Hotspots:
It’s not uncommon for investors and buyers to chase the next big hotspot with hopes of making a quick buck. But, hotspots aren’t all they’re cracked up to be. 
By definition a hot spot is a suburb or area predicted to benefit from rapid short-term gains in value. However, despite an initial spike, a hotspot is usually characterised by slow or limited growth in the long-term that often eventually undermines short-term gain. 
Due to the high transactional cost of property investment real estate should be viewed as a long-term proposition, which means hotspots often fail to provide the exceptional growth buyers hope for. 
Timing is everything:
Analysis of historical sales data clearly shows that it isn’t when you buy but what you buy that’s important. Purchasing a property based on price alone is no guarantee of future growth performance. Selecting the right property with the right profile for growth will ensure property owners have an asset that performs irrespective of wider market conditions. 
Keeping up with the Joneses:
Some of the best performing properties aren’t glamorous at all. When buying property don’t be fooled into thinking the more you spend the greater the likelihood of good capital growth. In fact, buying a flashy new property or one considerably above a suburb’s median price can limit buyer demand and subsequently growth. When investing, don’t buy property that appeals to buyers’ aspirations. Buy the one that caters to the financial and social requirements of the potential tenants and buyers in the area. 
Sitting on the sidelines:
During uncertain economic times it’s common for buyers to withdraw from the marketplace in anticipation of property prices reaching the bottom. However, adopting a ‘wait and see’ attitude to buying and selling real estate can be disadvantageous. 
The reduced competition during a downturn can create good opportunity for savvy buyers. But history shows that most buyers tend to return to the market after a positive shift in sentiment, and subsequently values, has already occurred. 
Those that have bought well needn’t worry about selling in a downturn either as quality real estate assets are always in high demand. 
So don’t wait for others to make the first move. Base your decision to buy on your personal financial circumstances, not market sentiment.
Greville Pabst is CEO of the <a href="https://www.wbpproperty.com/" title="WBP Property" target="_blank">WBP Property Group</a>.
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Buying property takes more than cliches

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The Queens Wharf Brewery hotel on the Newcastle Harbour has been listed for sale with hopes of about $8 million. 
The two-storey hotel, a popular entertainment venue in Newcastle, is located directly over the water at 150 Wharf Road and is part of the Honeysuckle wharf development. 
Up for sale is a ground- and first-floor bar, an a la carte restaurant, a gaming lounge with 15 poker machine entitlements, TAB facilities and a licence for the adjoining wharf area. The offering includes a development application approval for an alfresco gaming area. 
It last changed hands in August 2008 when it was bought by publican Michael Hogg for $8 million. 
In an arrangement that will run until 2019, Newcastle City Council earns $375,000 a year or 7% of the hotel's turnover, whichever is greater, from its ownership of the brewery. The new owner will have the option to extend the agreement to 2033. 
An expression of interest campaign closing September 22 is being steered by CB Richard Ellis’ Joel Fisher and Daniel Dragicevich in conjunction with Mike Wheatley of Knight Frank.
According to Wheatley the hotel brings in income of more than $10 million a year. 
He told Property Observer the listing has attracted a lot of interest from the Newcastle and Hunter regions and from Sydney publicans. 
“There is not much of similar quality in Sydney, so they’re making enquiries,” he says. 
“It’s a pretty unique asset,” he says. 
Fisher says although the vendor has listed the property for sale, a joint venture would also be welcomed from passive investors. 
“The hotel has favourable lease terms until 2033 with the rental effectively set at 7% of annual turnover,” he says. 
Dragicevich expects the hotel to appeal to a mix of traditional pub owners and operators, new entrants to the sector as well as newly established syndicates.
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Sydney publicans eager for taste of Newcastle hotel

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Legion House, a building in the Sydney CBD dating back to 1902, will become the first heritage building in Australia to achieve the new six-star environmental rating when its refurbishment is completed in 2013.
The building, which will be carbon-neutral when finished, will become the head office for construction and development company Grocon and is part of Grocon and GPT’s 161 Castlereagh Street development project.
Grocon CEO Daniel Grollo says the building will use “green” construction materials and methods, including sustainable bamboo, and will create its own renewable power through “biomass gasification technology”.
Grocon developed the Pixel building on the Carlton and United Brewery site, the first carbon-neutral building in Australia and rated Australia’s greenest building by the Green Building Council of Australia.
The NABERS (National Australian Built Environment Rating System) six-star rating, launched in August, is now the highest environmentally friendly rating an existing building can achieve.
Research by the Investment Property Databank has found buildings that achieve higher efficiency ratings deliver greater value and have a higher commercial value.
However, the launch of the new rating has attracted some controversy, with the Property Council of Australia slamming both the new rating and the way NABERS is managed.
It measures how efficiently a building uses energy, water, waste and the health of its indoor environment and is managed by the NSW Office of Environment and Heritage.
NABERS star ratings as applied to a typical office in Melbourne using only electricity and operating 50 hours a week:
 
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="205">
Rating
</td>
<td valign="top" width="205">
Carbon emissions
</td>
</tr>
<tr>
<td valign="top" width="205">
5 stars
</td>
<td valign="top" width="205">
? 67 kgCO2/m2
</td>
</tr>
<tr>
<td valign="top" width="205">
5.5 stars
</td>
<td valign="top" width="205">
?50 kgCO2/m2
</td>
</tr>
<tr>
<td valign="top" width="205">
6 stars
</td>
<td valign="top" width="205">
? 33 kgCO2/m2
</td>
</tr>
</tbody></table>
Source: NABERS
However, the launch of the new benchmark has attracted some controversy, with the Property Council of Australia alleging a lack of consultation and transparency at NABERS in what it calls a “decide first, consult later” management culture. 
The PCA says NABERS management has not consulted with industry stakeholders over the new rating and keeps its methodology in a “black box”. 
It claims the existing office tool methodology has been “trashed in favour of the totally different approach designed for hotels and shopping centres” and questions why it is two and half times harder for a Brisbane office building to move from five stars to six stars than a Sydney building. 
The PCA is calling for an overhaul of the existing NABERS management replaced by “a modern board, with an independent chair and world class corporate governance.” 
Matthew Clark, director of water and energy programs in the NSW Office of Environment and Heritage says the PCA response is disappointing and says a 12 week window for industry submissions on the new rating from November to February attracted 23 responses, 20 of which were supportive.
“We worked with our stakeholder advisory committee, which includes the PCA up until May this year. Based on advice from our national steering committee, we moved immediately to six stars.”
Clark says NABERS wishes to work closely with the PCA and is open to ongoing discussions with the industry body to make sure they feel involved.
The six-star rating is backed by the Green Building Council of Australia. 
“From now, six-star NABERS ratings will be possible, reflecting the fact that many buildings are moving above and beyond established benchmarks,” says GBCA executive director Andrew Aitken. 
Launching the new rating, Office of Environment and Heritage chief executive Lisa Corbyn said it was “called for by top performers in the commercial property industry who are already moving beyond NABERS five-star excellence towards a market-leading six star goal." "It reflects an ongoing improvement in the environmental performance of Australian buildings over the past 10 years, underpinned by the robustness of the NABERS tool as a performance measure."</body></html>

Heritage buildings can now shoot for six green stars

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Coal mining magnate Tony Haggarty has become a luxury Manly property developer after foreclosing on the Bower Street development site of property developer Matt Savage.
Haggarty’s private investment company HHTT Pty Ltd had limited equity in the project by Matt Savage’s Savage Property Enterprises Pty Ltd.
Haggarty sold the first of the four apartments at 110 Bower Street, Manly, earlier this month at $7.53 million through McGrath agent Jake Rowe, with two others set to be marketed later this year. Haggarty, who was born in Dungog, was the co-founder of Excel Coal.
Haggarty collected $225 million through the sale of Excel, the Hunter Valley mining company, to US giant Peabody Energy, when it sold for $2 billion in 2006.
A bankruptcy sequestration order was made against the estate of the Orange-based Matt Savage on June 30, 2011 following an application by the body corporate at his nearby earlier development.
The former lawyer turned property developer completed his initial luxury apartment complex at 92 Bower Street, where two of the three leasehold apartments sold for $8 million off the plan in 2007 to Haggarty and $7 million to financial adviser Nigel Flowers. Savage kept the third after its 2008 completion, which is still in his name, albeit with six caveats on title from aggrieved creditors. Several are from the architect Don Bianchino.
Savage once noted the project came about after he went to a real estate agent looking for a beautiful townhouse in the area. "I was told such a thing didn't exist," he says. "He told me if I wanted one, I'd have to build one. So I did, right on the edge of the cliff on the water."
An ugly, rundown 1920s two-storey block of flats was pulled down, with the new building designed by architect Vince Squillace. With its pool and garden, the $8 million sale was the highest recorded Manly apartment price at the time.
But it was the next project at 110 Bower – now under Haggarty’s control – where Savage came unstuck. Savage paid $8.25 million in July 2007 for his next intended second low-rise development on the waterfront. Subcontractors for its demolition were sought in early 2008. But the replacement of the old block never proceeded, with Savage unable to secure the requisite financing for its redevelopment. Savage had approved plans for four spacious, four-bedroom apartments with 180-degree views over the marine reserve, Shelly Beach, Fairy Bower surf break and the ocean.
Designed again by architect Vince Squillace with a more contemporary design, they will sit 10 metres above the water on the cliff face. Built of sandstone, recycled timbers and copper cladding, with stone tiles, boat deck-style floors, and large decks they were listed for sale for more than $7 million, and due to be finished in late 2010. The two off the plan sales didn’t get to proceed as the delay worsened.
"Fairy Bower is the eastern suburbs of the North Shore but with a north-facing beach over the ocean instead of the harbour," Matt Savage once suggested. His bankruptcy marked a sad twist that began 23 years earlier when as a penniless student Savage proposed to his girlfriend, Lisa, on the sands of Fairy Bower, so-called because of the magical and romantic qualities of the rocky bushland gully and creek than once ran down to Cabbage Tree Bay.
Enchanted by both the place and her suitor, the girlfriend accepted and the couple vowed that one day they'd try to live there.
"But we never thought we'd ever be able to afford it," noted Savage in the 2008 interview. 
Matthew Ronald Savage, was bankrupted by order of Registrar Segal in the Federal Magistrates Court of Australia. It followed a petition by the strata plan owners of his apartment, who were represented by David Le Page.
Other bankruptcy orders had been sought by Australian Unity Funds Management.
The foreclosure documents, which list the property's failed primarily print marketing campaign, are on page 2.
 
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