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

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

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

Vitale breaks Byron Bay records with EADE sales flurry 

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

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<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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Ellen Walker

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

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A few months ago I started a public awareness campaign, which we called "The RBA Appeal", in an attempt to draw the RBA’s attention to the underlying softness in the Australian economy, which could be exacerbated by risks offshore.
It appears that the economists are starting to listen: Westpac’s Bill Evans has done a 180-degree turn from predicting rate hikes to now forecasting four rate cuts.
When you accept the historically low consumer and business confidence estimates reported by the Westpac-Melbourne Institute and NAB surveys, the dismal performance of retailers like David Jones, the striking decline in employment growth, the slide in house prices, and the relentless downgrades of economic growth forecasts from various bank economists, you start to appreciate the pain that pervades the real economy, not the “official” economy that the Reserve Bank theorises about.
The Reserve Bank tells us that wages are growing, which is one rationale for a cycle of rate rises. However, these figures mean little in the suburbs, where the only thing growing is electricity charges, grocery bills, fuel prices and flood levies. Meanwhile, waiting in the shadows is a carbon tax that no one understands except for the fact that it’s another hand in their pockets.
Several weeks ago, I observed that even though the Reserve Bank had raised interest rates seven times in 18 months – and seemed committed to more rate hikes – the bond futures market, which tends to lead equities, was pricing in a full rate cut by January 2012.
I assumed this indicated the Reserve Bank would be pushed to change course by a sudden “sovereign event”, such as a government going broke, defaulting on its debts, or behaving in a way that moves markets, like declaring war.
What a difference two weeks can make: Greece and Italy are now clear contenders for a default-and-bailout scenario that will hit the global credit markets harder than the Lehman Brothers collapse in 2008.
When Lehman Brothers – Wall Street’s fourth-largest investment bank – sought bankruptcy in September 2008, Barclays and Nomura bought out its books. It was as orderly as could be expected, yet it still triggered the global financial crisis.
If a western European nation goes bust, the shock waves could hit Australia much harder; we’ll see credit freezes, lenders going out of business, and a bear market that could take years to recover. The mining industry might sail through untouched, but it only employs 2% of our workers. The other 98% of employers, and small business in particular, will bear the brunt of the turmoil.
The United States is caught in its own sovereign event: a president who wants to raise the national debt ceiling to honour its borrowings, and a Congress that wants to cut government spending to remain beneath the debt ceiling.
And while the fears of a sovereign event create the headlines, there are deeper structural problems in Australia that have already sapped confidence.
One is the “two-speed economy”. It has become fashionable for economists and media commentators to scoff at this idea, but when the derision ends the question remains: how do you judge an entire economy on the extraordinary success of the narrow mining industry? Bloomberg News put it most succinctly a few months ago when it found a 24-year-old mining rigger in Western Australia earning more than the chairman of the Federal Reserve, Ben Bernanke.
A second issue is that Australia is supposed to run on monetary policy where the cost of money controls inflation. But governments still have fiscal programs, such as the first-home owner grants and the Building the Education Revolution scheme. These are inflationary because they pump cash into the system, which the Reserve Bank has to control with rate rises. Our current rate rise cycle started as the Rudd government’s fiscal stimulus package kicked in.
The problem is that the Reserve doesn’t have the capacity to respond to – or ignore – specific causes of inflation. It can’t differentiate between wages growth in industries, or between sources of fiscal stimulus; it can only raise, lower or hold interest rates based on official inflation indices.
But that doesn’t help hardworking Australians. I talk to a lot of business owners, and I can’t recall a time when there has been so much confusion. In the early 1990s, when unemployment was high and banks wouldn’t lend to small businesses, the landscape was very clear. The pain was spread evenly.
Today, business owners are confused: how can interest rates be rising when the economy they operate in is so flat?
Unlike the low-confidence environment of the early 1990s, we’re not worrying about unemployment this time. However, the Reserve Bank should note that the quantitative driver of employment in this country is small and medium-sized businesses, not the mining industry’s wages, which only accrue to those in that industry. The Reserve Bank should remember that most businesses in this country are “mum and dad” affairs, whose business finance is raised off their family mortgages. They are highly sensitive to interest rate movements, and so are their hiring intentions.
With the financial year having ended, the Reserve Bank has an opportunity to take its head out of the technical economy and look at the practical economy. At a time when households and small businesses are low on confidence and high on costs of living, we should be easing interest rates to secure a soft landing from the expected global problems, and to guide the domestic economy back on to a sure footing.
I am glad Westpac has finally bought into my arguments. But rather than cutting rates once this year, and three times next year, as Westpac forecasts, why not get pre-emptive? If the Reserve Bank cuts rates at the next board meeting, it may avoid the need to have to slash rates in a GFC-style fashion after the crisis has already hit our shores.
People like to say the Reserve Bank gets ahead of the curve. They forget, however, that our Reserve Bank kept mortgage rates at 9.6% as late as August 2008, and only reduced rates for the first time in September that year. The RBA got behind the eight ball in the last crisis. I would hate to see history repeat itself.
Mark Bouris is the chairman/co-founder of Yellow Brick Road Group.
This article originally appeared on<a target="_blank" title="Business Spectator" href="https://www.businessspectator.com.au/"> Business Spectator</a>.
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Slashing rates could prevent an economic disaster

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Listed property trust investment in NSW retail properties has increased dramatically in the past 12 months.
A-REITs purchased nearly a third (32%) of NSW retail properties sold during the 12 months to June 2011, according to CB Richard Ellis’s latest Sydney Metropolitan Retail MarketView.
This is up from just 14% of transactions purchased by A-REITs during the previous 12-month period.
Major purchases by A-REITs during this period include CFS’s purchase of DFO Homebush in July 2011 for $135 million and Charter Hall buying a 50% interest in sub-regional shopping centre Lake Macquarie Fair and Mt Hutton Shopping Centre in Lake Macquarie, NSW, for $33 million.
Private investors accounted for half of all NSW purchases during the period, generating $261 million in sales.
According to CBRE, A-REITs, along with private investors, have shown interest in Sydney retail properties valued under $30 million as they look to reduce their exposure to overseas assets.
Interest is focused on regional and sub-regional shopping centres. However despite the demand, investment stock supply remains limited.
Yields have held steady at 6% for regional centres, at 7.54% for sub-regional centres and at 7.88% for neighbourhood centres. Regional centre vacancies have dropped to just 0.56%.
<a href="/images/stories/cbrejuly18large.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/cbrejuly18.gif"></a>
Other key findings include a significant portion of retailers shifting back to Pitt Street Mall, resulting in a spike in prime CBD retail vacancies in Sydney.
“King and George streets have been impacted the most; however, high-end retailer demand for stand-alone locations on these streets continues, as demonstrated by the relocation of Burberry and Louis Vuitton, “according to said CBRE retail services senior manager Leif Olson.
Olson says the opening of the second stage of Westfield Sydney has resulted in tightening vacancy, with demand exceeding supply on Pitt Street Mall.
“Pitt Street Mall vacancy remained below 1% despite the total CBD retail vacancy reaching 3.1% in the past six months,” he says.
Sydney prime rents have fallen by 11% during the previous year to an indicative $2,473 per square metre as at June 2011.
Further rental reductions are expected in the short term as national retailers closed underperforming stores to focus on Pitt Street Mall locations.
NSW retail expenditure was flat during the first half of 2011, with consumer spending patterns unlikely to increase as the year unfolds.
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NSW retail property attracts investors

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Perth’s CBD office market has started to simmer, with more than $533 million worth of substantial office building sales clocked this year.
Major sales last year totalled about $150 million.
Stockland has sold its 50% holding in the 52-level BankWest Tower on St Georges Terrace (pictured) for $130 million to joint owner Brookfield Prime Property Fund.
South Australia’s Motor Accident Commission has picked up the CBD’s most eco-friendly new building at 226 Adelaide Terrace for about $100 million from the First State Group.
These two sales are the most recent in a spate of buildings to change hands in Perth. Last year not a single major investment was sold.
One of the biggest deals being done in Perth this year was an option to buy 192 St Georges Terrace, which the Commonwealth Property Fund was offloading for $152 million. The fund is also selling its Mill Street property.
Other sales include 99 St Georges Terrace, which was bought by a Singaporean investment group, and 432 Murray Street also changed hands for about $30 million.
The UK-based insurance company Standard Life bought 182 St Georges Terrace for $30 million and the Perth-based investment syndicate Australasian Property Investments paid $30 million for 30 The Esplanade.
CB Richard Ellis’s Andrew Woodley-Page, who negotiated two of the deals, says most of the current sales took more than a year of marketing to secure a transaction.
“It looks like the market has gone mad, but it is pertinent to note that nearly all of these sales have taken between nine and 18 months of marketing to sell. There is a willingness to buy investment quality office buildings in Perth, but buyers remain conservative and cautious,” he says.
The only investment to sell within six weeks of marketing was 226 Adelaide Terrace.
“The fundamentals of the Perth market are very sound. Once the flow-through of the current development cycle has been taken up, we will see very tight vacancy rates in the CBD since there are no more big projects in the pipeline,” Woodley-Page says.
All of the buildings that sold are well-leased to mostly prestigious tenants, and yields range from 8.4% for both The Esplanade and 99 St Georges Terrace to 10.7% net on 197 St Georges Terrace, which was bought by Sydney’s GDI Property Group.
Several other major deals are being closed, including the a 10-level office building at 251 St Georges Terrace for more than $65 million to investors and the New Esplanade Hotel site for about $20 million. Both vendors are receivers and managers.
According to John Williams, managing director of Colliers International, the activity indicates investor confidence.
“There is a lot of confidence in the future strength of the Perth CBD market. There were no sales last year for the first time in more than a decade, and that caused pent-up demand. Owners knew the vacancy rate was tightening and rents rising, so they held out and have benefitted,” Williams says.
Another smaller sale is underway for 41 St Georges Terrace for $17.5 million and a further two similar deals are currently going through due diligence.</body></html>

andreadixon-oif3j7eKne

After a year of few sales, Perth CBD office market heats up

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Close to the CBD and brimming with culture, trendy-chic shops and great restaurants, it is no wonder that Sydney’s inner west has quickly become one of Sydney’s most desirable living locations.
In general, Sydney property markets are in a period of consolidation (flat prices). The property market has weakened in 2011, with RP Data figures showing a decline of 2.2% nationally for the March quarter. For Sydney we registered a decline of 1.1%. More specifically, Sydney auction clearance rates have hovered around the 52-58% mark in the past few months.
However, the inner west continues to defy the odds and show strong demand. This can be attributed to the favourable buyer demographics – young professionals and investors. Many couples with children are choosing to renovate or upsize and remain in the inner west for lifestyle reasons, rather than relocate further out to suburbia. This has contributed to the gentrification of many pockets of the inner west.
According to Domain, Balmain East is currently the fastest-growing suburb for houses in Sydney, with median prices now at $1.9 million, and Glebe the second fastest growing suburb for units with median prices at $614,000. St Peters is third with a median of $494,000.
With forecast rising rental yields, investors are starting to buy into the inner west market, especially units. Sydney’s gross rental yield for units is now 5.01% and houses 4.38%, according to March 2011 APM data.
Australian Property Monitors’ prediction of top-10 best performers released in February 2011 included inner west suburbs of Balmain East, Breakfast Point and Leichhardt, all with 10%+ return forecasts.
Inner west houses are slated by APM for 6% growth this year (with places such as upper North Shore at only 3%). Inner west units are slated for 5% growth (with upper North Shore and northern beaches at -1%).
Development
With the current light rail planned extension adding nine new stops from late 2012 at Leichhardt North, Hawthorne, Marion, Taverners Hill, Lewisham West, Waratah Mills, Arlington, Dulwich Grove and Dulwich Hill interchange, the inner west will become even more appealing to potential buyers who are looking for an ideal work/life balance.
The inner west has been a bastion of stability in a Sydney market, which has generally deflated since last November. We haven’t seen double-digit growth here like we did in 2010, but turnover is steady – properties are selling. Buyers and sellers alike are achieving results, which are not the case in many other Sydney regions.
Top picks for hot growth spots
The following suburbs should continue to do well as demand for houses outpaces supply:
Erskineville, Newtown, Glebe and Lilyfield for units. Breakfast Point, Balmain (including Balmain East), Rozelle, Lilyfield and Newtown for houses.
With the rebound of CBD-based jobs and salaries for professionals, and increasing rental yields for investors, the inner west finds itself a shopping ground for a diverse set of buyers, fostering a steady and healthy property market. Owner-occupiers and renters alike are choosing the inner west for lifestyle reasons.
So, if you are on the lookout for your first property, or your next investment, here are five tips to help you along the way:
Know the neighbourhood inside-out. Inner west has many sub-pockets. Some areas are gentrifying and attracting professionals, while others are still run-down. Prices in one zone may be significantly different from another just two streets away.
There is a lot of new development in the inner west. If you are buying anything built within the last 10 years, do your research on the building! Many people assume that new buildings have fewer problems; in fact they tend to have more, due to the fact construction defects are still being sorted out. Despite required builders’ warranties, many are not honoured and lawsuits are common.
For units, look for features that appeal to gentrifying buyers: security, parking, internal laundry, large living space. A unit can be renovated, but key features cannot be added.
For houses, make sure you understand the details. No two houses are alike and there can be significant variation in price on one street alone. Factors such as aspect, high/low side of street, structural integrity, easements and zoning can affect value significantly.
Appraise the unit and make a fair offer as soon as possible. Given the negative headlines, vendors may be a bit more nervous than last year about selling and thus are more likely to accept offers before auction. However, the inner west market is still strong and the longer you wait, the more buyers who will be ready to compete with you.
Oliver J. Stier is the director of <a target="_blank" title="OH Property Group" href="https://www.ohpropertygroup.com/">OH Property Group</a>, a Sydney-based buyers agency. In addition to being a licensed real estate agent, Oliver also holds the Chartered Financial Analyst (CFA) designation. You can follow Oliver on Twitter at <a href="https://www.twitter.com/ohproperty">www.twitter.com/ohproperty</a> 
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oliverstier-Cu9aF99VRm

Sydney’s inner west continues to defy market odds 

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Analysts say shopping centre landlords such as Westfield, which have quality portfolios, are insulated against the current tough trading conditions anchor tenants such as David Jones are experiencing.
It follows David Jones, which has nine out of its 37 department stores in Westfield shopping centre, issuing a profit downgrade yesterday with total sales for the fourth quarter of the 2011 financial year expected to be about 11% lower than forecast.
Analysts claim landlords of marginal shopping centres are at a greater risk in the current retail environment.
News of the David Jones downgrade came as a third shopping centre in the Austexx group, the Spencer Street Fashion Station at Southern Cross Station in the Melbourne CBD, was placed in the hands of receivers following the collapse of Torquay Central, in regional Victoria, and the Flinders Plaza in Townsville in the last two months.
David Jones CEO Paul Zahra blamed the downgrade on an unprecedented rapid deterioration in trading conditions.
However, analysts say the link between the troubles facing David Jones and Westfield are “somewhat tenuous”, with John Kim from investment group CLSA telling the AFR that while anchor tenants lease 56% of space in Westfield stores, they generate just 17% of income.
Furthermore, Kim says rents paid by department stores are not tied to sales, with David Jones holding leases averaging 15.4 years and Myer leases of 11.1 years.
According to Kim, other anchor tenants including Myer, Woolworths, Coles, Target and Kmart are performing well.
As a result, brokers are recommending Westfield Retail Trust, the subsidiary which accounts for the group’s 54 shopping centres in Australia and New Zealand, as a buy and are expecting a Westfield earnings forecast upgrade in August.
Rental growth is expected to remain positive, but at a subdued level.
Westfield will also benefit from an increase in demand for retail space from international brands targeting Australia.
Apple is set to spend more than $10 million on its first retail site in Brisbane, British clothing operator Topshop is eyeing up vacated Borders stores for its expansion and European fashion giant Zara is also set to open a flagship store in Brisbane.
The David Jones downgrade comes six months after the Productivity Commission launched its inquiry into the state of the Australian retail sector.
Retailers such as Coles and Myer and the collapsed REDGroup – all anchor tenants in many Westfield shopping centres – have complained of retail rents and occupancy costs being among the highest in the world.
In its submission to the commission, Westfield defended the rents it charges, arguing they are determined by market forces and fair given the foot-traffic generated through their shopping centres.
David Jones is yet to make a submission to the Productivity Commission.
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‘Quality’ shopping centres insulated against tenant woes: analysts

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Property developing can be very rewarding and it can also be overwhelming, especially if you are building in an unfamiliar area for your first development.
The best way to become familiar with your choice of location is to find out how the local council works and what it would like to see built in their area. Developing relationships with the local town planner could save you a lot of time and money, and help make the difference between a frustrating project and a fabulous development.
To get off on the right foot, do some research on the type of new development you see around the town, and consider what you would like to build. Then call the council and organise a meeting with a town planner. Discuss your plans and find out what will help your development application get across the line with minimal stress.
You’ll also need to do some reading so you know what is and isn’t permitted in the area. This way you won’t be wasting the town planner’s time asking basic questions, and you can get straight to the details of your particular development.
Some documents to read include:
Local Environmental Plan (LEP)
You will find this on the council's website. An LEP defines the land zones and outlines permissible land uses within the zones. This will determine what type of building you can put on the land: low, medium or high density. Currently, a number of councils in NSW are preparing draft LEPs so check to see if your council is working on a new LEP, as when processing your application, councils will take the draft LEP into consideration, even if it has not yet been gazetted. Development Control Plan (DCP) 
 This document contains more detailed provisions than the LEP. Its information is specific to geographic zones or development types. It will give you a thorough understanding of the guidelines to follow when developing in your chosen area.
Regional Strategy Report
While not all councils have one, this is commonly used to outline areas with the greatest potential for development. It will outline plans for land releases, land rezoning, population and employment projections and will pinpoint specific areas earmarked for future growth.
When you meet a council planner, come prepared with the 149 planning certificate from the contract of sale of the property or land you are looking to develop. The 149 will indicate if the land is in a bushfire or flood zone, for instance, and it will tell you what is prohibited on the site, and whether it is heritage listed. If you are not sure about some of the information in the 149, the planner can explain it to you. Also bring a survey and sewer diagram, which can be found in the sales contract.
Council meeting minutes will sometimes give you valuable information on other similar applications that have gone to a council meeting and comments made about the developments. You can also read other development application consents to get an insight into the type of conditions that council may impose.
Some questions to ask your planner:
What kind of development does the council want to see in the area?
It’s important you work with your council, rather than against it, if you want a smooth process. You want to align your project with the council’s vision for the community.
Are there any problems in developing this particular site?
They may see a problem such as access onto the road, if it is a major road, or they may be privy to information on neighbouring properties.
Is the land in a flood zone?
 Although this will be included in the 149 planning certificate, it is really important to ask this question. The planning certificate you have may be out of date or lacking information. For example, the council might be working on a new flood study, but this won’t be reflected on the planning certificate. By the time a development application is lodged, the property's flood zone may have changed, and it could be rejected. The council will have a flood and/or drainage manager who can give you up-to-date information over the phone. If the land is in a bushfire-prone area, be aware that you’ll need to comply with current fire-safety regulations, which will add to your building costs. What is the minimum lot size? 
 This will be specified in the DCP subdivision guidelines, however, sometimes the council may be a little flexible on this. If you are looking for land to subdivide, you will need to look for land more than twice the minimum lot size.
Are there any issues that may arise in developing in this area? A town planner will be aware of any social issues outside the constraints of the DCP. For example, I developed in an area where the local neighbourhood fought any application lodged for more than one dwelling on a title. I soon learned that the deputy mayor lived there and was rallying neighbours to fight the development applications. I sought legal advice and was able to negotiate with the council and gain consent, as my application met all the requirements of the DCP.
Once you have secured your development site, have your draftsman or architect put a concept plan together. You can use this to show the council your design and get valuable feedback from an early stage. Check if there are any specific reports that may need, such as acoustic reports or traffic counts. You can easily make changes at this stage to ensure your application is processed as quickly as possible.
After it has been lodged, check to see if your council has a development application tracker on its website that you can follow progress on. If you see it is not progressing as forecast on the tracker, call the planner and find out what the hold-up is. If there is no online tracker, make regular calls to your planner to keep on top of progress.
All councils work to different timeframes and according to their resources. Sometimes I am surprised at the speed of a council, but mostly we find the process takes too long. Staying in close communication with your council can help fast-track the process. Enjoy this important part of your development journey; you will learn so much from the planning process.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
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jochivers-wq5Bp59R5a

The keys to a successful first development

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Plans by almost one out of two Australian manufacturers to move their operations offshore could have serious implications for industrial property demand, a new survey has found.
Nearly half (46%) of manufacturing executives say their companies are looking into sending their operations offshore, while three quarters are concerned about manufacturing being sent overseas in the future, according to a survey by researcher Huthwaite Asia Pacific.
The survey, which drew response from 101 sales directors, marketing executives and general managers in the manufacturing industry, found that about a quarter of manufacturing companies are already combating competition from cheaper overseas manufacturers by moving their entire operations – or a strategic part – overseas.
Mark Courtney, director of research at Colliers, estimates between 15% and 25 of industrial property is owned or tenanted by manufacturers, meaning a drop in demand from the sector could have serious consequences.
Currently, the industrial sector is the poorest performing commercial sector in Australia. It is performing below the commercial property average, according to NAB’s Industrial Property Index.
However, NAB forecasts a recovery over the next 12 months.
Industrial hotspots have emerged in Melbourne’s west, where rents have risen above pre-GFC levels, and in Sydney’s outer west. In both cases demand has come from logistics and transport businesses. However, many CBD industrial markets are still trading below pre-2007 levels.
According to the Huthwaite survey, the majority of manufacturing executives want the government and industry associations to do more to help local manufacturers.
Huthwaite managing partner, Adam Thorp says the survey results reflect a worrying trend of local companies heading offshore, which is increasing with the high Australian dollar.
“Australian manufacturing has been in retreat for several years, with the cheap labour, manufacturing facilities and tax breaks of other Asian economies enticing companies to move their operations offshore,” he says.
“These latest survey results, which come in the wake of the rising Australian dollar, suggest this trend will continue and increase in the future.”
The Aussie dollar finished second only to cheap overseas products as the biggest stumbling block to competing with overseas manufacturers, the survey found.
China (79.3%) was identified as the leading competitor, ahead of India and Korea.
Survey respondents came from diverse manufacturing sectors including food, textiles and clothing, petroleum and coal, metal products, and machinery and equipment.
To combat the threat of cheap imports, more than half of respondents said their companies were repositioning their products as superior to overseas alternatives, while 24.7% said they were decreasing operational costs and/or downsizing.
Manufacturing executives believe about a third of Australian consumers are willing to pay up to a 10% premium for Australian-made goods.
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Demand for industrial property at risk as manufacturers consider offshore

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Economists have called for government action to address a long-running decline in residential land sales.
The calls follow the release of data showing residential land sales fell for a sixth consecutive quarter in March 2011, according to the latest HIA-RP Data Residential Land Report.
The volume of land sales fell to a record low in early 2011 – down 6% over the March 2011 quarter and 43% lower than the March 2010 quarter.
This is the lowest point land sales has reached since 2001, when accurate figures were first recorded.
As a result of the decline, residential construction is expected to weaken until at least the December quarter this year.
The depressed outlook follows official ABS figures which show building approvals for private sector houses fell 14% for the year to May 2011.
It also follows the Australian Industry Group (AIG) Performance of Construction Index falling to an eight-month low in June 2011, with housing and overall construction activity contracting for the 13th straight month.
HIA chief economist Harley Daley says while softer demand and over-speculation by developers in anticipation of a “fictitious” housing bubble are part of the picture, a big barrier remains the cost of serviceable land.
“Clearly this cost is excessive in a great number of areas around Australia. Governments need to address this substantial constraint on residential building which is generated by costs they impose,” Mr Dale says.
RP Data’s national research director, Tim Lawless, agreed with Dale, and placed much of the blame for low transactions volumes on an “excessive cash grab by state and local governments” on new developments which had resulted in affordability being eroded.
“On a rate per square metre basis, the cost of vacant land has exploded in recent years across most cities. Between March 2003 and March 2011 the rate per square metre price for vacant land has increased by at least 140% in each capital city analysed except for Sydney,” Mr Lawless says.
Land prices continue to rise despite the fall in the volume of sales.
The weighted median land value in Australia increased by 0.8% in the March 2011 quarter to $193,980, driven by growth of 2.7% in the median value for regional Australia (to $159,611), according to HIA and RP Data.
Over the year to March 2011, the median land value was up by 4.4% for capital cities and by 3.8% for regional Australia.
Mr Dale says the fall in demand for residential land indicates that new home starts could reach one of their lowest levels seen since the mid-1990s.
AIG director of public policy, Peter Burn, expects the difficult construction conditions experienced during 2010-11 to continue into the opening months of the new financial year.
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Govt must intervene to stimulate land sales: HIA/RP Data

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One of the main obstacles people have in understanding the dynamics of Australia’s $3.5 trillion housing market is what I like to refer to as an “anchoring bias”.
Since 70% of households own the homes in which they live, they tend to think they are experts on the subject. But, as I noted in my<a href="https://www.propertyobserver.com.au/observers/not-as-safe-as-bricks-and-mortar/2011071150768"> previous column</a>, an individual home, with all of its idiosyncrasies, is actually a very poor proxy, or representation of, Australia’s overall housing market.
Perhaps the strongest anchoring bias one finds is in the luxury market. Most newspapers and real estate publications tend to focus their reporting on high-end property sales. There are good reasons for this: reading about multimillion-dollar homes is fascinating. It sells newspapers and attracts eyeballs.
But how relevant is the $1-million-plus market to the average Australian? And could it be the case that all of the financial services executives and corporate titans who live in higher-end suburbs, and who exercise so much power and influence over “consensus thinking”, are most adversely affected by anchoring bias?
I consistently find that the more well paid somebody is, the more bearish they seem to be on housing, especially during downturns. For example, during the GFC, countless top executives would relay stories about how Australian house prices plummeted in the 1991 recession, and predicted the same would likely happen again.
Yet when we went back and looked at every available house price index, we found that Australian house prices hardly budged in 1991 despite the fact that unemployment peaked at around 11%. According to the ABS house price index, home values actually rose on average over the period January 1990 through December 1992, albeit at a very slow pace. Of course, within the national index there was a great deal of cross-sectional variation.
As was the case during the GFC (when average prices only declined by 3-4% peak-to-trough), by far the worst affected suburbs back in 1991 were the luxury markets. In places like Toorak, Point Piper, Mornington Peninsula and Palm Beach, prices indeed fell by 10-20%. And while this was doubtless a painful experience for the “big end of town”, it had no bearing on the average Australian family.
In psychology, anchoring denotes the tendency of people to rely far too heavily on small pieces of non-representative information when making decisions or estimating probabilities. In 2002, Daniel Kahneman was awarded the Nobel Prize in economics for his work (with the late Amos Tversky) documenting that anchoring biases and other behavioural dysfunctions interfere with objective human decision-making.
These frailties in our judgment have, for instance, been shown to exacerbate the protracted booms and busts in share prices that we have observed over the past 30 years.
When it comes to house prices, purported experts tend to make the mistake of extrapolating from their individual circumstances and using this information as a credible proxy for the wider market. More specifically, I would contend that the luxury market is afforded far too much weight in experts’ assessments of wider conditions. So how important is it?
In the chart below I have dissected out the price distribution of all home sales in Australia over the past year. Recall that the median dwelling price across Australia is $420,000 (including both capital city and regional areas).
<img src="/images/stories/joyejuly14-1-cropped.png"> 
Unsurprisingly, about 65% of all sales in Australia are for homes worth less than $500,000. If we widen the price band to between $0 and $700,000, we capture 83% of all sales.
 
In contrast, only 6.4% sales were for homes worth more than $1 million. That is, the $1 million-plus market is irrelevant to over 93% of households. If we boost the granularity of our analysis and concentrate on the $2 million-plus market, we find that it accounts for only 1.1% of all sales (ie: meaningless to 98% of people).
 
The next question is whether the luxury segment performs differently to the broader market. In the chart below I am have illustrated the year-on-year capital growth rates realised by the bottom 20% of suburbs (ranked by price), the middle 60% of suburbs, and top 20% of suburbs in Sydney. The results are similar across Australia.
 <img src="/images/stories/joyjuly14-2-cropped.png">
What should be clear is that the most expensive homes are significantly more volatile (or risky) than the remaining 80% of dwellings. During the good times they experience much faster house price appreciation, while in the downturns they perform by far the worst.
This probably helps explain why the talking-heads who frequently live in these areas are prone to the most pessimistic exclamations on Australian house prices. That is, they forget that their $1 million-plus home is a poor guide to overall conditions.
Christopher Joye is a leading financial economist, and works with <a href="https://www.rismarkinternational.com/" title="Rismark International" target="_blank" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Rismark International</a>. Rismark and RP Data provide house price analytics products, and solutions that enable investors to go long and/or short the housing market. The above article is not investment advice.
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Troubled prestige prices don’t signal woes for suburbia

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Australia’s two-speed economy is flowing through to demand for office space, with vacancy rates tightening in Perth and Brisbane, but easing off in Sydney, Melbourne and Adelaide.
The vacancy rate in the Perth CBD, which became Australia’s tightest CBD office market in the first quarter of 2011, tightened again in the second quarter from 5.6% to 5.4%.
Prime gross effective rents in Perth increased by 3.9% in the second quarter and have risen by 11.2% since a trough in the rental cycle was recorded in the third quarter of 2010.
Jones Lang LaSalle’s national head of office leasing, Kevin George, says large resource companies continue to be active in the Perth market.
“Investment spending in the sector remains at very high levels and businesses are moving quickly to secure space to accommodate their expected increase in headcount,” he says.
According to George, the next 12 months will see further rent escalations in Perth.
Prime office rents in Perth are expected to reach $859 per square metre by January, according to forecasts by the Property Council of Australia and Macquarie Bank.
Major office projects due to be completed over the next 12 months are expected to release significant amounts of backfill space, with George expecting a large proportion of the backfill space to be pre-leased prior to availability.
The biggest project is City Square North, at 123 St Georges Terrace in the Perth CBD, being developed by Brookfield Office Properties.
It will have mining giant BHP Billiton as its anchor tenant when it is completed in early June. Other tenants include international gold company Barrick, and PwC.
The development will comprise more than 75,000 square metres of office space in City Square Tower and a total of 7,126 square metres of retail space.
Brookfield has now lodged an application for a second, 16-storey office tower with about 30,000 square metres of net lettable area proposed.
It’s a similar story in Brisbane, where the vacancy rate has dropped to 6.8% in the second quarter of 2011 from 7.9% in the first quarter.
There was a net absorption of 11,000 square metres in the quarter, with the bulk taken up by mining companies.
BHP Billiton Mitsubishi Alliance has leased 6,000 square metres at 12 Creek Street and Rio Tinto leased another 1,600 square metres at 33-35 Herschel Street.
“Tenants are becoming increasingly aware that the window of opportunity to negotiate a favourable leasing outcome in Brisbane is closing,” George says.
“The sentiment in Brisbane will continue to improve when a number of pre-commitments, which are at an advanced stage of negotiation, are concluded for One One One Eagle Street.”
One One One Eagle Street, on the CBD side of the Brisbane river, is being developed by GPT and will accommodate more than 62,500 square metres of premium grade office space across 44 levels when it is completed later in 2011.
However, the Sydney and Melbourne prime office markets have been impacted by the resurfacing of the European sovereign debt issues in the second quarter of 2011 and the flow-on to business confidence in the finance and insurance sector.
Despite a strong net absorption result in the second quarter of 2011 (totalling 28,900 square metres), vacancy increased to 8.0% in the Sydney CBD.
Andrew Ballantyne, director of national office market research for Jones Lang LaSalle, says the primary reason for this increase was the quantum of backfill space left by CBA after its consolidation of multiple tenancies to the new development at Darling Quarter.
Melbourne CBD vacancy rates have risen to 6.0% following a net absorption of 11,600 square metres of prime office space and a rise in vacancy to 6.0%.
The negative result in the Melbourne CBD was largely attributed to the relocation of the Spotless Group from 350 Queen Street to St Kilda Road in a 10-year lease agreement negotiated by Colliers International’s office leasing director Ben Christie.
Rents increased by 1% in the second quarter. Since bottoming out in the second quarter of 2009, prime gross effective rents are up by almost 12%.
In Adelaide, vacancy increased marginally to 7% in the second quarter of 2011. However, the vacancy rate remains below the long-term average and has resulted in prime gross effective rents rising by 2.5% in the quarter and 9.4% over the past 12 months.
In Canberra rents were unchanged despite the rise in vacancy to 13.0% – a record high for the Canberra office market.
Across CBD office markets, positive net absorption of 24,800 square metres was recorded in the second quarter of 2011 with vacancy rate increased slightly to 7.6% from 7.4% in the first quarter of 2011.
While the quarterly net absorption was well down on recent quarters, net absorption in the 2010/2011 financial year was 279,700 square metres.
Jones Lang LaSalle expects below equilibrium vacancy rates in a number of office markets and a moderate development pipeline will combine to cause upward pressure on prime office rents in the June quarter of 2011. 
 
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