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

Joel Robinson

Central Element seeks second Drummoyne apartment development

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

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

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

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

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

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

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

Newstead apartment boom continues with Longland Street tower plans

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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

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

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With the effects of COVID-19 being felt across the world’s economies, the question for those in the property market is “<a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">what's going to be happening in the current financial climate and how is the market going to return, if it does?</a>”

Before COVID -19 hit Australia, we were already seeing a number of different jurisdictions in different states around the country making changes to their residential tenancy act, and some of them are still in that process right now. These changes are weighing in favour of the tenant rather than the landlord. 

A number of these agencies, councils and legislation changes basically advised landlords and residents that “they are currently in an embargo situation and need to work with each other to create an agreeable outcome.” 

Of course this ‘work it out yourselves’ approach has both good and bad outcomes for people on both sides of the property fence. One positive of this is that for the first time, many people who sat on the left side of society, the socialists, who have previously viewed landlords as capitalists who are just out to make money from them, have suddenly realised that this is not the case at all. The majority of property investors in Australia, only own one or maybe two properties, and those landlords are the ‘mum and dad’ investors who own these properties in an attempt to put their family in a better financial position. 

The outcome of that is the realisation is that really, we are all the same. 

In various stages and circumstances of life, we are all renters at one time or another. We are all landlords at other times, and we're all homeowners in yet other moments of life.  When it all boils down, there's not much that will change among us. 

What has been startling during these times of lockdown, job losses and property uncertainty is the research that showed only 30% of people have enough money to live on a week to week basis. But what does that really mean? Well, it means that in the property market, we need to ensure that we can get an outcome that has a positive benefit for everyone. 

At this point in the economy, we are in a position of having a 'V' shaped drop, and we are only halfway through. From the beginning of the announcements of Covid-19, before there were discussions or decisions about a social lockdown, I suggested that what we were going to see was a decrease in property prices, a decrease in the sentiment of the market and then a very quick return of market sentiment as well. So, to put it simply, in a V-shaped economy return there is a sharp drop and a sharp increase. This is similar to when the political landscape prepares for an election. When an election is announced six weeks out, there is a stall in the property market and the only properties that sell before an election are those where people are desperate to sell, giving rise to a buyer’s market. 

In a buyer's marketplace, the properties sell for a low price point or with conditions that are not in favour of the seller, which means as an overall median, we witness a drop in the marketplace. Then, as soon as an election is over and the results are announced, within a six-week period, there is a return of confidence in the marketplace, the sales go back into place and then we generally have things turn into a sellers’ market.

It isn’t possible to be 100% correct with predictions but, if we look at 18-year property cycles and the movements in Australia during 1960, 1972, 1989, 2004, 2008, 2015, experienced investors are able to see a pattern. If we experience a second wave of the pandemic, we will see what is called a 'W' in financial and property markets. This means a sharp drop, in the three months and if there is a second run at COVID-19, it will drop again and then go up again. 

I believe that one of the last things that the Australian government wants to see is for landlords to go under financially. Politicians don’t want to experience an economic landscape where there is no investment and no growth. To avoid this situation, the governments are going to be working towards ensuring that you, as an investor, have a better outcome moving forward, because if your tenant stopped paying rent, if you went broke, generally there would be a run for the banks. If you are mortgaged, they would have to foreclose on you and nobody wants that, especially not the government.

The banks wouldn't have enough money because the funds that they lent you actually came from the savings of those people who need it the most. Those are the ones that are most likely renting where they live and it’s their savings that are lent out to you as an investor. And so, it would be a catastrophic event if mortgages had to be foreclosed because with that run to the banks, they would remove that money out of the marketplace. 

Coming from many years of property investing experience, my opinion is that we will witness a fast return to a very strong marketplace. It is an opportunity to begin looking at those areas where you can buy right now for the prices that you could buy 10 years ago. The suggestion here is not buying new houses and land packages but about purchasing properties that have the potential for you to do something more to them. During this current period there is only one state in Australia where it is possible to buy properties at the prices you would find back in 2004. These are properties that are 15 years and older where you have the ability to buy, create cash-flow and ride the capital growth. 

Sitting on capital growth and hoping things are going to work for you isn’t the best way forward.  By researching marketplaces, looking at the 18-year cycle, and working out where you think the market is in that cycle, you can see if you can get the capital growth, and, more importantly, how you can manufacture growth. 

The way to get manual growth on the property is by doing something to increase your return from that property. You may think this means ‘just renovating’, but using the flipping strategy is not the best approach here. The wealth creation that you are going to see in your lifetime is from holding onto property, not by buying it, doing something to it and then selling it. But for you to be able to hold it, you need cash-flow. Creating that cash-flow from the actual property itself is much more than renovations. By looking at the possibilities that property can offer, you may be able to do a subdivision. Some questions to consider might include:

<ul>
<li>Is there potential for a secondary dwelling or can you have a duplex on that block? </li>
	<li>Can you create a duplex secondary dwelling or a type of house that has more potential? </li>
	<li>Can you use the unused and unknown policies around the country that allow you to transform those properties into micro-apartments that give people their own self-contained areas, their own kitchen, sitting area, lounge-room and bedroom and involve themselves in one communal area of the house? </li>
</ul>
Depending on which Australian state you're in, this may be a kitchen, a living room or a lounge room. It could be a number of different aspects that create one communal area. When you think about this as an investor, you will realise it's not a ratio return. If you compare the rents of a one, two, and four-bedroom house, if the one-bedroom house rents for $100, the two-bedroom doesn’t rent for $200 and the four-bedroom for $400. It’s much closer. Research from the Department of Health and Human Services shows that a four-bedroom medium-priced house across the metropolitan area for rent is $415 and a two-bedroom house is $400 so it's only a small difference. So, if you know you can create smaller micro-apartments in larger houses, you get a better outcome, and a way to create additional revenue for yourself.

If you can purchase property and cover your cash flow, you have a good outcome for the future and the financial ups and downs won’t impact you as greatly as if you had to find money to make up the shortfall each and every month.  If you can hold a property in Australia for longer than 10 years, you can double your equity and wealth. For example, if you bought in the peak of the last 50 years, around 1988 to '89 and kept that property with positive cash flow, by 2004 it would have tripled its value.

Right now, it’s the same. The property market is where you get cash flow and your wealth creation happens over a period of many years. Cash flow gives you your lifestyle. Equity gives you your wealth and an ability to leave your job and know that when you retire, you will have plenty of wealth in your name.
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jieyee_46282

Bounce back? Dip? Boom? Bust? What’s next?

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There is a lot of speculation in the media right now about property prices, clearance rates, the bottom of the market and basically everything else you can think of. In fact, if you have a pulse and a theory, you are probably going to get some airtime. Personally, I think there is more value for property investors in studying the longer-term trends and there are a few key trends that are likely to continue.

Just before the COVID-19 pandemic, we completed a four-year study on <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">investor behaviour</a>. The study took four lots of 1,000 property investors to chart any trends over the combined period and 4,000 residential properties. The data is a mix of unique information we gather from our investor clients through the course of completing our tax depreciation schedules, and from our own investigations, we found some interesting trends.

1. Investors are buying more new property than they ever have

It was not a huge surprise, but it is a trend that has some sizable implications. Even in the last week, we have had incentives pointed at new properties with the Government announcing cash incentives to build. One of the biggest changes that shifted investors towards new property was the May 2017 changes to tax depreciation legislation for plant and equipment items. Basically it meant that if you bought after May 2017, you’re no longer able to claim key deductions for items such as floor coverings, window furnishings, air conditioning and kitchen appliances unless you either buy a brand new property or buy the asset brand new. <a href="/guides/looking-to-buy-an-investment-property-top-3-things-you-must-do-online-first">New property</a> was already arguably more attractive from a tax deductions point of view, but this really shoved the incentives squarely towards the new property investor.

What did the data show? Well, the four-year increase in people buying a new property was up by 107.53%. As at the end of last calendar year, 49.6% of investors purchased a brand-new property. 

What are the implications I mentioned earlier? Well if there is one place that property spruikers tend to loiter, it is around brand new property. There is a whole industry dedicated to selling brand new property and that is not in itself a bad thing, but there’s potential for advisors to value the commission cheque over the value of the investment. It’s much easier to overpay for a new property than it is for an established one (though I’m sure you could manage it), and there are plenty of stories about investors trying to settle on their off-the-plan apartments that have fallen in value even before the development has finished construction. Generating new supply is good for the economy and the construction industry, but investors need to be careful that they are doing their due diligence and receiving the best advice.

2. A lot of property investors become investors <a href="/guides/how-to-invest-in-property-with-no-money">by accident</a>, and the numbers are increasing.

25.7% of investors occupied their property themselves, prior to turning it into an investment. Now that was once a complete surprise. I couldn’t have guessed that the number would be that high. For anyone not paying attention, that’s a quarter of residential investment properties were not investments from day one!

Ok, so now you’re thinking that it was too hasty for me to say “these people were accidental investors, after all this could have been their plan from the start. You’ve also got your investors that live in the property for 12 months to claim the first homeowner grant and then move out.” These are all great points, hypothetical reader voice in my own head, and in many ways you are correct. It’s not true to say that ALL these investors are accidental. However, you’d be surprised how little of them are living in their property for strategic reasons. For me, it all comes down to the magic little piece of extra data, that is, the average number of days these investors occupy their property for. If it was for a first homeowner grant, it would be close to 365, right? Well the average number of days was 1,537 last year. So that is, on average, of the quarter of all investors that occupy their property prior to renting it out, the average amount of time they spend living in it is 4.2 years! That figure for me says that there’s more to this story. Yes, there will be some first homeowner investors, yes there will be some tactical investors. However, there will also be some homeowners who want to upgrade and realise that their broker is telling them they don’t need to sell their old property to buy the new one. The percentage of people living in their property prior to rental has gone up just shy of 4% per year over the last 4 years, so it is increasing as well.

 What are the implications here? Well, it is important to consider whether that property is indeed ‘<a href="/guides/how-to-ensure-financial-return-on-your-property-investment-in-15-simple-steps">investment grade</a>’, but that’s a whole other story. The study found many other trends that provide some valuable insights for investors, but those are the two I’ll leave you with today. You can get a copy of the ‘MCG 1000 Assets Study’ <a href="https://1000assets.pages.ontraport.net/">here</a>.

To summarise, property investing is a game of patience and too many investors chase the hotspots or try and time the market. The same rules of investing pre pandemic are likely to hold true. That is that good quality assets with scarcity value will remain popular. If it was in demand before, it is likely to be again, so try and avoid the noise and read the long-term trends.
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2 Property investor trends that are likely to continue post pandemic

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Whether you just own a home, or you have an expansive <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">investment property</a> portfolio, you might like to consider opting for a Testamentary Trust Will.

A Testamentary Trust Will is a will that is only set up after you pass away and acts as a discretionary family trust. The trust has one or more people who hold and control the trust property (“the Trustee”) on behalf of a range of other persons who will benefit from the trust (“the Beneficiaries”). As it is discretionary, it is entirely up to the trustee to decide each year which one or more of the beneficiaries will receive any income generated by the trust assets, and who will receive the remaining assets when the trust eventually ends.

So what are the advantages of having a Testamentary Trust Will?

First, flexibility. A simple old-fashioned Will divides a deceased person’s assets (their “estate”) into fixed shares (for example, between their children in equal shares). However, this will also mean that their children will pay tax on any income generated by their inheritance, at their own marginal tax rate (which could be up to 45% plus 2% Medicare Levy). Now, suppose instead that each child was able to receive their inheritance in a Testamentary Trust. This would mean that they could allocate the income from their inheritance each year between themselves and/or other family members, such as their spouse and their own children. It also means that they could allocate the assets in their trust flexibly as well between the different beneficiaries of their trust, depending on their individual needs. This flexibility allows for changes in personal circumstances so that distributions of income and assets can be made to suit each child’s needs from time to time.

Second, said flexibility together with special tax concessions that apply to a Testamentary Trust income gives rise to significant taxation benefits. Under section 102AG of the Income Tax Assessment Act 1936, any income received by a minor beneficiary (under 18 years old) from a Testamentary Trust is treated as an “excepted trust income” and taxed as if that beneficiary were an adult. This means that adult tax rates apply so that the first $18,200 received by that beneficiary from the trust is tax-free every year. 

For example, say Homer’s Will leaves two investment units directly to his wife Marge. Say they earn a combined rent of $50,000pa. If Marge is on the top tax rate, she will pay tax and Medicare Levy of $23,500 just on that income. However, if, instead, Homer’s Will leaves the units to a Testamentary Trust for his wife and 3 kids, if the kids earn no other income then the $50,000 rent can be split equally between them and they pay no tax at all – a saving of $23,500 in just one year! If this situation continued for 10 years, the savings could add up to $235,000!

Third, by having assets held in a discretionary Testamentary Trust, each child’s inheritance is protected from lawsuits that might arise from their own business or profession, or from creditors if they fall on hard times. This is because it cannot be argued that the child owns the assets, as they are just one of the number of potential beneficiaries of the trust who only get anything if the trustee says so. This also means that the trust’s assets are protected if any of its beneficiaries file for bankruptcy. It can also provide meaningful protection of trust assets in the event of a familial relationship breakdown, with the Family Court often treating the Testamentary Trust as a financial resource instead of part of the matrimonial property that is available for division by the Court.

The only drawback of having a Testamentary Trust Will is that it is usually more expensive to draw up than a traditional Will. Additionally, each year after the trustor’s death, the trust has its own tax return to lodge, which may cost around $1,500 - $2,000 per year. But if the tax savings are anything like in the above example, the Testamentary Trust will more than pay for itself.
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Why every property investor should consider a testamentary trust will

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Among the many changes that may occur in society over the coming months and years is the potential for one of our most inefficient taxes to finally be axed. <a href="/guides/step-by-step-guide-to-placing-an-offer-on-a-house">Stamp duty</a> has long been the bane of most property owner’s existence with buyers having to fork out tens of thousands of additional dollars for the supposed “privilege” of purchasing a piece of real estate. 
Over the decades, as the price of property has increased, the percentage rate of stamp duty has generally stayed the same, which has resulted in the cost of stamp duty soaring. 
In some cases, in exclusive <a href="/developments/sydney-nsw">Sydney</a> suburbs, for example, buyers are stumping up more than $100,000 every time they purchase a home. 
In many other locations, you won’t get much change from $20,000 to $40,000, depending on the property’s price point. 

However, it appears that a new way of tax thinking is potentially on the way.

Time to heave-ho

Stamp duty has been identified by experts as an inefficient tax that needed to go for years, but successive governments failed to listen. 
Perhaps it all seemed a bit hard, with State Governments now overly reliant on stamp duty proceeds to fund their budgets. 
Of course, we’re all currently living through some of the most difficult days of our lives, which has created the ideal conditions for significant changes to how we live, including the taxes we pay. The push to stamp out stamp duty has already begun, with many experts suggesting now is the time to give it the heave-ho. 
The timing is perfect, because stamp duty has always slowed down the market, which we need to be firing to help reignite our economy. What I mean is that stamp duty always prevented more people from buying a property, because they simply couldn’t afford the additional fee to do so. 
Likewise, it stopped many other people from selling, which reduced supply, because they also didn’t want to have to pay stamp duty when they bought somewhere bigger or smaller or just something somewhere else.  
Removing stamp duty will also increase the deposits of investors and home buyers, which will give them more choice of where and what to buy. 
For example, in <a href="/developments/qld">Queensland</a>, the stamp duty on a $500,000 home is about $18,000. 
Say, a would-be buyer had saved $68,000, but no longer needed to pay stamp duty, their purchasing power has increased by a staggering 26 per cent. 
That means they could not only potentially buy a more appropriate property for their needs, but they could also simply buy sooner because they no longer have to stump up nearly $20,000 in tax.  

Of course, you can’t just remove a huge revenue stream and not replace it with something, which is likely to be land tax. 
How that will look in practice is not clear, but it’s likely to include an annual fee of a few hundred dollars for all property owners based on the rateable value of their land. 
That system would ultimately be more equitable whilst also providing the income that government’s need from year to year.  It’s clear that sometimes there needs to be a fresh perspective for big changes to occur, which is usually because of a change in political power. However, that is not the situation today. 
While all of us would prefer that <a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">coronavirus</a> never existed, its impact long-term on our society may also include leaving a legacy of a fairer taxation system for everyone.
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Nick Dante

Why axing stamp duty will help everyone

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A development site, in the Western Australian city of Mandurah, has been listed for sale.
Occupying 6,045 square metres, 310 Pinjarra Road is directly opposite the freshly-upgraded Mandurah Forum Shopping Centre.
It adjoins a BP service station on the city’s main arterial road.
It primarily occupies the corner of Pinjarra Road and Dower Street, with frontages of 45 metres and 70 metres respectively, but also features an additional 40 metre frontage on Parkview Street.
The title is currently subject to separate zonings, with 3,821square metres facing Pinjarra Road zoned Service Commercial, and a further 2,224 square metres on Parkview Street currently zoned Residential.
The City of Mandurah is considering a new Town Planning Scheme that would result in joint Commercial &amp; Residential Mixed-Use zoning, adding development options for the Parkview Street portion.
Mandurah, approximately 70 kilometres south of the Perth CBD, is Western Australia’s largest regional city, with its current population of 84,000 forecast to grow by 44% between now and 2036.
The development site is surrounded by additional amenities including parks, the Mandurah Aquatic and Recreation Centre and Mandurah Library.
CBRE’s Ben Younger and Jake Wallman have been appointed to manage the campaign, in conjunction with Peter Vetten from Raine &amp; Horne Mandurah, with offers due June 4.
“Development sites of this quality don’t come to market very often,” Mr Wallman said.
“We expect this opportunity to generate significant interest from developers attracted to the site’s outstanding location; Pinjarra Road generates huge exposure and the Mandurah Forum is directly next door.
“This is a unique site benefiting from three street frontages, while its zoning also allows for a broad range of development options.”
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wdavis-8cCN98p7xp

Mandurah development site listed for sale

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Crown Resorts marked a milestone for its Crown Sydney development on May 22. 
The ‘topping out’ of the building marked the completion of vertical construction for the 275-metre-high hotel resort and residences. 
The building, designed by world renowned architects WilkinsonEyre, is set to change the city’s skyline as well as create over 2,000 jobs in NSW. 
The 'topping out' was marked by a short site visit by the NSW Treasurer, The Hon Dominic Perrottet MP due to COVID-19 social distancing requirements. 
Alongside the Treasurer, was Crown’s Chair, The Hon Helen Coonan, Crown’s Chief Executive Officer, Ken Barton, Crown’s Executive Vice President - Strategy and Development, Todd Nisbet and Group Chief Executive Officer and Managing Director of Lendlease, Steve McCann. 
The continuation of the construction industry in NSW has enabled the site to keep over 1,300 workers employed daily.
There has been almost four million hours of work having taken place during the construction phase in total. 
Ken Barton, Chief Executive Officer of Crown, said: “The COVID-19 pandemic has presented Crown with many challenges and has required us to make some difficult decisions. We are grateful for the NSW government’s decision to keep the construction industry open with strict COVID-19 measures in place. 
"Not only has this supported over 1,300 jobs at our site at a time of great economic uncertainty, it also keeps us on track to provide over 2,000 more jobs when we open.”
Steve McCann, Group Chief Executive Officer and Managing Director of Lendlease, said: “When complete, the transformation of Barangaroo from a disused industrial site to world-class urbanisation precinct will deliver to the people of NSW a once-in-a-generation integrated residential, office, entertainment, transport and leisure destination.  
Crown Sydney will open its 349-room hotel in December 2020, alongside 14 restaurants and bars, and select retail. 
Homeowners at Crown Residences at One Barangaroo, located in the upper floors of the building, are on schedule to move into the building in the first half of 2021.  
Over 1,300 people will continue to work on the interior fit-out of Crown Sydney throughout the remainder of 2020. 
To date:  
<ul type="disc">
<li>Almost 8,000 of the 10,000 glass panels have been placed on the building’s exterior</li>
<li>Almost 237,888 tonnes of concrete have been poured </li>
<li>Over 20,000 tonnes of steel reinforcement and steel structure have been put in place </li>
<li>Over 100 suppliers have been involved in its construction with over 97% of suppliers being local providers operating in NSW and around Australia </li>
<li>Crown has remediated 220,000 tonnes of contaminated material as part of the redevelopment of its site and has contributed to the clean-up and remediation of the Barangaroo precinct throughout the build </li>
</ul>
By the end of fit-out there will be: 
<ul type="disc">
<li>50 different types of marble and stone used throughout the building </li>
<li>The hotel will feature crystal light installations, including 50 custom made designs </li>
<li>Around 1,800 artworks will be installed, 70% of which are by Australian artists </li>
<li>Over 50,000 shrubs and 300 trees grown in local nurseries will be installed</li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

Crown Sydney tops out after four years in construction

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Introduction
There has been much debate about the short-term economic and investment impact of coronavirus – on economic activity, unemployment, interest rates, house prices, shares, etc. However, the magnitude of the shock means it will have medium to longer-term implications as well. 
Of course, there is a danger in placing too much weight on current circumstances in assessing the future. Given this, we need to be a bit cautious, but here are 10 medium to longer-term impacts.
#1 Lower interest rates for even longer
The hit to economic activity has been huge, resulting in a lot of spare capacity that will take years to be used up. We don’t see global and Australian economic activity getting back to pre- coronavirus levels until late next year or 2022.
<a href="https://www.propertyobserver.com.au/images/2020/5/25/covid%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/covid%201.jpg" alt="">
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Unemployment will take even longer to fall – it tends to go up via the lifts and down via the stairs. This will mean low inflation or deflationary pressure for the next three years at least. Which will mean central banks will be biased towards low interest rates for several years which will keep bond yields ultra-low.
Another way of looking at this is that given the hit to economic activity, interest rates would normally fall a lot further. In the GFC the Australian cash rate was cut by 4.25%. But because rates are already at or near zero, they can’t – so monetary easing is being achieved by quantitative easing. But an unconstrained cash rate for Australia would see it fall to around -3% not getting back to 0.25% until 2023 at the earliest.
In the meantime, it means several years of very low rates. It’s little wonder the RBA is targeting a 3-year bond yield of 0.25% and its low-cost funding rate for banks is also 0.25% for three years.
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Implications - Low rates mean very low returns from bank deposits and ultimately bonds but they make higher yielding shares and assets like property and infrastructure relatively attractive to investors once the hit to earnings and rents passes.
#2 A further blow to globalisation
Recent years have seen a backlash against globalisation evident in the rise of Trump, Brexit and a backlash in some countries against immigration. The coronavirus disruption has added to this. 
Worries about the supply of medical items have led to pressure for their domestic supply. This could move on to food security and looks to be morphing into a push to bring supply chains “back home”. Borders have been closed for health reasons and it is unclear when they will all reopen.
Implications - While the outcome may simply be a diversification in reliance away from China to other emerging countries, the risk is that this all leads to reduced growth potential for the emerging world generally. 
Longer term it could reduce productivity if supply chains are managed on other than economic grounds and could remove a key source of disinflationary pressure from the global economy.
#3 Another leg up in the US/China “cold war”
The trade war of 2018 and 2019 turned into a truce with the mini Phase One deal signed in January. However, with the coronavirus-driven shutdown, China is behind in its agreed purchases of US goods. 
What’s more, President Trump now faces a difficult task in winning the November presidential election - US presidents have not been re-elected when there is a recession and rising unemployment. This has been made worse by Trump’s inept handling of the crisis. This has left Trump keen to shift the blame over the virus and China is an easy target. He has already made some threats on this front and imposed some minor sanctions on China.
 At present Trump’s approval rating is around where it’s always been and is not weak enough for him to conclude that he has nothing to lose by taking big risks on this front (such as tearing up the trade deal and imposing more tariffs). But if his prospects start deteriorating dramatically, he may conclude that he has nothing to lose, particularly with 66% of Americans now having a negative view of China, up from 48% in 2018. The latter also suggests a Democrat president may also take a tough stance with China – although likely with more of a diplomatic focus. The point is that the US/China trade war risks ramping up.
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Implications – this could act as a negative for growth, work against multinationals and become a rising negative for shares. It also poses a threat to Australia but if Australia remains broadly neutral it may be minor (despite recent tensions around barley and beef) given that most Australian exports to China are for domestic use, not for reexport to the US.
#4 Bigger government and bigger public debt
The GFC brought an end to economic rationalism and support for smaller government and was associated with a leg up in public debt levels. Fading memories of the problems of too much government intervention added to this.
 The coronavirus crisis has likely added to support for bigger government intervention in economies and the tolerance of higher levels of public debt.
 Particularly given that it may have enhanced perceptions of inequality with well-paid white-collar workers being able to isolate and work at home whereas lower paid workers have been stood down or have to continue working in less safe conditions.
 Safety regulations to ensure distancing will also add to business costs, although hopefully this will just be for the short term if a medical solution to coronavirus is found.
Implications – bigger government and aggressive measures to address inequality could reduce productivity growth and hence economic growth. Although it’s worth noting that if the Australia adopts a productivity enhancing agenda it may buck this trend.
#5 Higher inflation with money printing
While it’s hard to see inflation becoming an issue in the next three years, the combination of rising public debt, money printing and more protectionism risks a longer term pick-up in inflation to say above 4%, particularly if central banks don’t reverse easy money quickly once spare capacity is used up.
Implications – a resurgence in inflation to high levels would be bad for productivity and negative for assets that benefitted from the “search for yield”. But it’s a much longer-term issue.
#6 Consumer and investor caution reinforced
The GFC led to a wariness and a degree of investor caution on the part of households. This has been evident in around 50% of Australians nominating bank deposits and paying down debt as the “wisest place” for their savings compared to around 30% before the GFC, and scepticism of shares. The coronavirus pandemic and its hit to incomes and job security has likely reinforced this.
Some even argue that the period of self- isolation will drive a rethink in terms of what’s important in life resulting in more mindful consumers focused on “do I really need it?” I am not so sure about the latter beyond the short term as people have short memories, but it is likely that household caution will remain, resulting in higher precautionary saving and more conservative investment strategies.
<a href="https://www.propertyobserver.com.au/images/2020/5/25/covid%202.jpg" target="_blank">Click here </a>to enlarge:
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Implications - this will weigh on discretionary retailers, banks and wealth managers.
#7 Faster embrace of technology
Self-isolation has dramatically accelerated the move to a digital world. Workers, consumers, businesses, schools, universities, health professionals, young &amp; old have been forced to embrace new online ways of doing things. Many more have now embraced on-line retail, working from home &amp; virtual meetings.
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Implications – there are six big implications from this: • The challenge to traditional retailing has been ramped up dramatically putting more pressure on traditional retailers and shopping centre owners to improve their offering.
• Less office space demand – but this may be offset if more space per person is needed in the absence of a vaccine. • A shift from cities to suburbs/regions – as the shutdown shows that a “sea or tree change” is viable for many.
• This in turn may mean the beginning of the end for peak hour traffic congestion (although it could spike in the short term as people prefer to drive as long as Covid is still a risk). • Virtual meetings may see less demand for business travel.
• This is positive for IT tech stocks facilitating online activity.
#8 Bad for airlines
Which brings us to airlines. Less business demand for travel points to lasting damage. Some say the same may apply to tourists – but if a medical solution is found or the virus just dies out I suspect tourism will bounce back but based on the experience after 9/11 it may take a decade to fully recover.
Implications – airlines have already taken a big hit, but they are likely to be the slowest industry to recover.
#9 Another test for the Eurozone?
Slow progress towards providing support for Italy has led to renewed concerns that the Euro area may break up. Populist anti Euro leaders may get a boost from the crisis, particularly if there is a new wave of migrants from Libya. 
However, Europe seems to be doing what it always does – gradually heading towards a solution with Germany agreeing with France for the common issuance of bonds and shifting in favour of fiscal stimulus. 
The pressures to keep the Eurozone together (safety in numbers, a high degree of identification as Europeans, solid public support for the Euro, Germany benefitting from the EU and Germany’s huge exposure to Italian bonds via the ECB) remain far stronger than the forces pulling it apart.
Implications – I wouldn’t bet on the Euro breaking apart.
#10 Lower immigration
This is already a reality in Australia with travel bans and since immigration normally accounts for around 1 percentage point of population growth in Australia its absence knocks up to 1% off economic growth. The issue is how long immigration remains low. 
Australia would likely be a popular destination for migrants and students given its success in limiting coronavirus. And a rigorous testing/quarantine regime could allow both back sooner rather than later. That said I suspect while students will return faster, political pressures associated with higher unemployment will allow only a gradual recovery in immigration.
Implications – this is bad for home building &amp; home prices as the hit to immigration has cut underlying dwelling demand by 80,000pa. But I suspect it creeps back over the next five years.
Concluding comments
Several of these longer-term implications will constrain economic growth and hence potential investor returns – notably the reversal of globalisation, bigger government, consumer caution &amp; lower immigration. The faster embrace of technology will work in the other direction though to boost productivity and lower for longer interest rates are positive for growth assets.
Finally, a word of caution - anyone who got too negative for the long term in the last really major pandemic of 1918-19 might have missed out entirely on the “Roaring Twenties!” It’s much easier to think up negative things. 
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SHANE OLIVER is the Head of Investment Strategy and Chief Economist at AMP Capital
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10 medium to longer-term implications from the coronavirus shock: Shane Oliver 

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EXPERT OBSERVER 
As the public health response to supress the COVID-19 virus ramps up, so to does the economic fallout. Shutdowns and enforced spatial distancing are necessary to try to prevent hospital intensive care units becoming overwhelmed.
But businesses on the economic frontline – those shut or soon to be shut down by the public health restrictions – need immediate help to get through.
The necessary temporary hit to business incomes need not become a permanent hit to productive capacity. We should not risk a large swathe of shops, cafes, pubs, hotels, gyms, and hairdressers going to the wall.
Most of these frontline businesses have seen their income dry up overnight. Some have temporarily closed, others are <a href="https://www.goodfood.com.au/eat-out/news/what-melbournes-restaurants-are-doing-in-response-to-the-coronavirus-pandemic-20200320-h1moz4" target="_blank">finding creative ways to make some money</a> in online retail or takeaway services, for example, but most will replace only a fraction of their pre-crisis income.
<h2>Rent is the biggest barrier to survival</h2>
Staff layoffs, or more <a href="https://www.natlawreview.com/article/covid-19-australia-stand-down-what-does-it-all-mean" target="_blank">hopefully stand downs</a>, are the only option for most of these business. Even substantial wage subsidies won’t entice business owners to keep staff on when the business has shut its doors.
For businesses on the economic frontline, most of their variable costs such as wages and stock can be suspended during the shutdown. But their fixed costs – particularly rent – are substantial.
The average retailer pays almost A$12,000 in rent a month; the average gym, $10,000. Cafes and hairdressers are losing $3,000 to $4,000 each month in rent. 
For most exposed businesses, rent sits at less than 20% of operating costs under normal conditions, but while they hibernate through coronavirus, that figure will reach somewhere between 80% and 95%.
Some schemes have already been announced to help these businesses. The Commonwealth’s is the largest, and will pay small and medium businesses 100% of salary and wages withheld for tax purposes up to $100,000. For businesses to qualify for the full amount, they will need to withhold the same amount, so will need to be paying staff.
<a href="https://images.theconversation.com/files/323472/original/file-20200327-132965-1bqrk6j.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/323472/original/file-20200327-132965-1bqrk6j.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 2019 data. Grattan Institute analysis of IBISWorld industry reports
State governments have announced partial relief of tax, rates and fees, and access to loans. This will help, but rent is the big unavoidable cost for most of the frontline businesses.
Exposed businesses will be losing thousands of dollars, or more, each month. Many will have some cash reserves, but for most a shutdown of three months or more will be very difficult to absorb.
A rent holiday, or at least a significant rent discount, would give these businesses a fighting chance at preventing a temporary shutdown becoming a permanent closure.
<h2>Market rates are close to zero</h2>
Most shopfronts can’t be put to other uses. That means the market price for retail, food, and accommodation services, and personal services shopfronts will be very close to zero during the shutdown.
Some landlords have done the right thing and given their tenants a rent holiday while these restrictions are in place.
This is smart: keeping their tenants in business will give these landlords the best chance of having a rented property when restrictions are lifted.
In normal circumstances, the market would work this through. But the danger here is it will happen too slowly. Some landlords refuse to accept renting out their premises for nothing.
In Melbourne, Chadstone retailers just wrote to Chadstone management asking for a rent holiday to “save our businesses”.
The response from management was <a href="https://www.smh.com.au/business/the-economy/chadstone-retailers-push-for-three-months-rent-free-citing-bankruptcy-fears-20200325-p54dnu">no.</a>
That mindset could send many thousands of shops, cafes, pubs, restaurants, hairdressers, gyms, cinemas, and tourism operators to the wall.
As of last week, more than 70% of businesses in these industries had already been hit by the COVID-19 crisis. That figure is expected to rise beyond 90% in the coming weeks.
“Closures” was the most common word used by business owners surveyed by the <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mf/5676.0.55.003?OpenDocument" target="_blank">Bureau of Statistics</a> about the future effect of COVID-19.
<a href="https://images.theconversation.com/files/323434/original/file-20200326-133007-uaqa55.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/323434/original/file-20200326-133007-uaqa55.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.abs.gov.au/ausstats/abs@.nsf/mf/5676.0.55.003" target="_blank">Source: ABS cat no. 5676.0.55.003 - Business Indicators, Business Impacts of COVID-19, March 2020</a>
Preventing landlords from evicting commercial tenants, or requiring landlords to defer the rents, won’t help – businesses will still liquidate if they know they will be lumbered with many months of rent to pay back down the track.
While a short-term income hit for landlords isn’t insignificant, the damage to the economy will be much greater if a swathe of small and medium-sized businesses are lost.
<h2>Acting now will reduce the damage</h2>
The owners of some properties that need rental holidays still have to make monthly mortgage payments to banks. But the banks are offering loan holidays they might be able to take advantage of.
If there are gaps in the loan holiday arrangements, governments should work with the banks to ensure landlords are covered. Alternatively, governments themselves could offer partial compensation for lost rent.
Prosper Australia has suggested a uniform <a href="https://www.prosper.org.au/wp-content/uploads/2020/03/Memo-to-state-Governments_-Commercial-tennancy-intervention-for-Covid19-resilience.pdf" target="_blank">subsidy</a> that replaces 50% of lost commercial tenancy mortgage payments.
Right now, hundreds of thousands of businesses are crunching the numbers to see whether than can stay solvent. With rent on the expense side, those numbers won’t add up for long.
Every state and territory government ought to enact a rental holiday for the types of businesses on the frontline of this crisis. As the economic shockwave reverberates, state and territory ministers should have the power to add other vulnerable industries to that list.
The key is speed. For every day they wait, hundreds of businesses will fold.<img src="https://counter.theconversation.com/content/134890/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/danielle-wood-147710" target="_blank">Danielle Wood</a>, Program Director, Budget Policy and Institutional Reform, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>; <a href="https://theconversation.com/profiles/kate-griffiths-94706" target="_blank">Kate Griffiths</a>, Fellow, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>, and <a href="https://theconversation.com/profiles/nathan-blane-934089" target="_blank">Nathan Blane</a>, Analyst, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-case-for-a-rent-holiday-for-businesses-on-the-coronavirus-economic-frontline-134890" target="_blank">original article</a>.
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The case for a rent holiday for businesses on the coronavirus economic frontline

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Australian real estate developer, Beulah International, has gained approval from the Victorian State Government to develop their $2 billion Southbank by Beulah project.
The Green Spine building, set to become Australia’s tallest tower, will be composed of two towers, both with a twisting geometric class façade and terracing and has been conceived as a conceptual extension of the Southbank Boulevard.
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Soaring to 365 metres and spanning 270,000sqm, the mixed-use precinct desires to become an unprecedented, globally recognised vertical village.
Southbank by Beulah was conceptualised alongside Dutch design firm UNStudio and local firm Cox Architecture — a refinement of their winning concept from the 2018 Southbank by Beulah global architecture competition.   The vertical village will comprise of four distinct collections of private residences, public and green spaces, including a five-star urban resort, world class experiential retail and commercial offices.
Other features include a rooftop sky garden, town hall, childcare centre, a health and wellness precinct and arts and culture spaces and programs.
 
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Southbank by Beulah to become Australia's tallest vertical village 

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The pandemic is not stopping the rooftop urban farm at Burwood Brickworks in Melbourne from producing top quality fruit and vegetables. 
Under a new partnership between the shopping centre, acre Farm &amp; Eatery and Crossway LifeCare, that produce is now being delivered to local people in need.
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Source: <a href="https://www.facebook.com/BurwoodBrickworksShopping" target="_blank">Burwood Brickworks Shopping Facebook Page</a>
While the restaurant connected to the urban farm remains closed due to COVID-19, the new partnership ensures the farm’s produce is regularly delivered to Crossway LifeCare’s customers, to find its way into the homes and recipes of people who need it most.
Crossway LifeCare’s customers include people experiencing hardship such as relationship issues, depression and anxiety, domestic violence, addictions and other challenging life situations. The community services organisation aims to help people in tough places flourish.
Eric Park, Burwood Brickworks Centre Manager, says the partnership is about using a community resource to support people and families who may be experiencing food insecurity in these challenging times.
“Part of the principle of the Living Building Challenge® at Burwood Brickworks is to take a different perspective on waste, by viewing and treating waste as a resource. It would be against the spirit of the centre for the quality produce grown in the community farm not to be used for the community’s benefit, and this partnership ensures that it will,” says Mr Park.
“We are proud to support acre Farm &amp; Eatery in the donation of fresh produce to a community group with a real focus on helping people from all walks of life.”
As COVID-19 restrictions ease, the retailers at Burwood Brickworks are busy working with centre management and Frasers Property Australia to open their doors to the community at the appropriate, safe time.
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