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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Name: Kathy MacDermott Company/organisation: Property Council of Australia Position: Executive director, Queensland branch City of residence: Brisbane No. of years in the industry: 25 years
Kathy MacDermott has traded in a career as a property journalist for one executive director of the Queensland branch of the Property Council of Australia. She is currently lobbying for help for the Queensland market, which is recovering from the devastating floods in early 2011.
 
What sparked your initial interest in property? 
I joined a public relations firm which specialised in property communications. It was the height of the late ’80s boom, and we were working on major projects from Cairns to the Gold Coast, across all sectors. It was interesting, rewarding, and I soon discovered what a dynamic sector property is.
 What was the first property you bought?
A post-war home in 1992
 
Are you a trader or holder of property? 
Holder
So far, who or what has been your biggest influence in your life or career? 
In my life, my husband, who has been the primary carer to our three children and ran our household for the past 14 years. Career wise, Queensland businesswoman Christine Lohman, who introduced me to the world of property and taught me the joy of work! She remains an important friend and mentor to me.
What are the ingredients you need to be successful in the property market? 
 Research and relationships. You need to test out trends and statistics with trusted sources who have worked through a variety of cycles and operate in the market you are investing in.
You worked as a property journalist for 11 years before moving into communication roles and now your role at the Property Council – do you think the media provides fair commentary on the property market? 
Absolutely. We are fortunate in Australia to have extensive, dedicated coverage of the property sector by specialist journalists.
What’s more interesting – writing about property or lobbying on behalf of the industry? 
They both present extremely interesting opportunities. Writing about property was particularly fascinating because of the people you get to meet and interview, and I loved my 11 years in journalism. Now with the Property Council I have the opportunity – and privilege – to advocate on behalf of the industry in Queensland. Our sector is the largest employer and contributor to state revenue, so we play a critical role in the economic wellbeing of the community.
What is your reaction to the recent Queensland state budget? Is enough being done to assist the property market? 
The state budget included a series of initiatives identified by the Property Council. We particularly welcome the stimulus to the new-home market and the creation of the Major Projects Office, which will help attract investment to the state. We continue to advocate for a cut in property taxes and charges – in particular the removal of the “temporary” 0.5% land tax surcharge introduced in December 2008.
Are you bullish or bearish about house prices in Queensland? Why? 
The current market in Queensland reminds me of 1992 when I bought my first home. At this time price growth was slow, but it was a good time to enter the sector. If you buy with a medium- to long-term investment horizon, there are opportunities in all cycles.
If you had a $500,000 to invest right now, where would you invest it? 
A unit in Brisbane’s West End to secure a foothold in this vibrant, inner-city suburb.
Was there ever a dud investment in your property portfolio? And why? 
No, all sound.
What would be your advice to someone buying their first investment property?
Buy in a suburb you know well, as you have a good understanding of values as well as how long it is taking for properties to sell and rent. Take your time. Buy near public transport, shops and primary schools.
What are you reading at the moment? 
Jasper Jones by Craig Silvey
What are you listening to at the moment?
 Bunny (my sister’s band)
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lschlesinger-FZcF9M3vE6

Kathy MacDermott: Property research and relationships the key

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Astute property buyers should be looking to buy now rather than wait for the market “herd” to change its outlook, prominent agent John McGrath has argued in his latest blog post.
Quoting investment guru Warren Buffett’s aphorism “Be fearful when others are greedy. Be greedy when others are fearful”, the McGrath Real Estate CEO urges buyers take “the umbrella view” and buy while the rest of the market is holding off.
“If you’re looking to purchase for the long term, which I always recommend, then a 2.1% decline in prices in the March quarter of 2011 is not going to matter in 2021 when property prices may have, once again, doubled,” he wrote on switzer.com.au.
“If you wait for the herd, there’s one thing I can guarantee. When the herd starts buying again, prices will go up, and you’ll be kicking yourself you didn’t grab this current window of opportunity,” he says.
McGrath also argues that current market weakness – 30% more properties available for sale across Australia than at this time last year, according to RP Data – will not prevail.
“I can tell you with confidence that the weakness we are seeing now is not the beginning of a downward stretch. The fundamentals of our property market are still very good, but right now, we have a little uncertainty going on.
“This relates to volatile global economies especially in Europe, uncertainty relating to interest rates, a more conservative approach to debt and recent natural disasters. From a property market perspective, these are circumstances that are temporary and will resolve themselves,” he says.
McGrath concludes by saying that overall, the market is still heading up and that the market fundamentals (strong population growth, a massive undersupply, increasing rents and a stable economy) will keep property prices strong in the long term.
In previous blogs, McGrath has argued that the climate remains positive for investors.
“Property prices are slightly softer and rental yields just keep on rising,” he says ahead of the winter season.
He lists the top 10 municipalities for rental growth over the year to March Quarter 2011 as:
<ul>
<li>Woollahra, Sydney – Houses – 22.2% to $1100 per week </li>
<li>Nedlands, Perth – Houses – 20.4% to $825 per week </li>
<li>Burwood, Sydney – Houses – 19.6% to $550 per week </li>
<li>Sorell, Hobart – Apartments – 18.2% to $260 per week </li>
<li>Claremont, Perth – Houses – 17.2% to $850 per week </li>
<li>Cottesloe, Perth – Houses – 16.7% to $875 per week </li>
<li>East Fremantle, Perth – Houses – 16.4% to $675 per week </li>
<li>Ashfield, Sydney – Houses – 15.6% to $520 per week </li>
<li>North Sydney, Sydney – Houses – 15.3% to $828 per week </li>
<li>Lane Cove, Sydney – Apartments – 15% to $460 per week</li>
</ul>
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Property buyers should avoid the herd, says John McGrath

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At first glance, an independent observer might think that the behavior of Australia’s housing market right now is a bit odd. Let’s reflect on the facts.
First, the unemployment rate has remained very low at around 4.9% since late last year. This is well below what we used to believe to be the so-called “non-accelerating inflation rate of unemployment” (or NAIRU), which in the 1990s was assumed to be 6% to 7%. Any falls in the unemployment rate beyond this point are typically accompanied by inflation breakouts. And while jobs growth has, to be sure, slowed considerably from its scorching 2010 pace, the leading indicators imply that the economy will continue to create new employment opportunities.
Second, wages growth is very firm, to say the least. Indeed, private-sector wages including bonuses are stomping along at a circa 4% plus pace, which, as the governor of the RBA recently observed, is above the average rate since the middle of the 1990s. If we then cast our eyes over disposable household income growth, which is reported by the ABS on a quarterly basis, we find an even rosier picture. Disposable incomes in Australia expanded at a remarkable 8.4% clip over the 12 months to March 2011 (see chart).
<a href="/images/stories/Joyejune23/joyejune231.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/Joyejune23/joyejune231thumb.jpg"></a>
Source: RP Data-Rismark
Third, the cost of debt is still relatively modest. The headline mortgage rate in Australia today is 7.8%, which is only a smidgen higher than the average rate of 7.6% since the start of 1995 (see chart). Recall that in August 2008, the headline mortgage rate rose to a gut-wrenching 9.6%. Way back in January 1990 it was 17%. So, in terms of the interest rates households are paying on their loans, there is nothing really to complain about.
 
<a href="/images/stories/Joyejune23/joyejune232.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/Joyejune23/joyejune232thumb.jpg"></a>
Source: RP Data-Rismark
Sure, the level of household debt held by households is much higher than it was 20 years ago. But even when we inspect debt-servicing costs, we find that things look fine. According to the RBA’s latest estimates, the median “debt servicing ratio” —that is, the share of disposable income used to service all repayments due on home loans — is just 21%. Indeed, the RBA finds that about 58% of all Australian borrowers are actually “ahead of schedule”, which means that they are paying down their debt more quickly than they have to. The chart below, which is excised from the RBA’s Financial Stability Review, shows the proportion of households that are ahead of schedule, and the median DSR, ranked by income “quintile” (which is fancy language for the five buckets of income, each representing 20% of the population, ranked from low to high).
<img src="/images/stories/Joyejune23/joyejune233.jpg">
Notwithstanding these encouraging facts, capital city and regional house prices in Australia have actually tapered in recent times. In the year to end April, capital city prices are off 1.5% while their regional counterparts are down by 1.8%, according to RP Data-Rismark.
The combination of healthy income growth and skinnier house prices has meant that Australia’s dwelling price-to-income ratio has fallen back to its lowest level since June 2003, as I previously reported <a href="https://www.propertyobserver.com.au/residential/aussie-housing-stock-is-not-too-expensive/2011060850447">here</a>.
The question remains, though, if household incomes are rising rapidly, if the labour market is comparatively tight, and if interest rates are only slightly above average, what gives with lower dwelling prices?
The answer, I believe, is not something that has really been explained before: the phantom interest rate hikes. That is, the rate hikes we never had. Jonathon Chancellor alludes to this in a news report <a href="https://www.propertyobserver.com.au/consumers-and-investors-more-hawkish-than-economists/2011062250566">yesterday</a>.
During 2011 Australian households have been very “hawkish” indeed. By hawkish we mean that they have expected a large number of interest rate hikes. We know this from a fascinating Westpac survey, which asks households every quarter where they think mortgage rates will be in a year’s time.
When Westpac carried out this survey in February, households said they were, on average, budgeting for more than three further rate increases. That suggests households were expecting to be paying 8.6% mortgage rates. Since that time, we have had no rate hikes despite a very high inflation outcome in the first quarter, which the RBA has thus far ignored, to the surprise of many.
In an update of the survey carried out in June, Westpac found that Australians remained exceedingly hawkish, forecasting more than two rate hikes in the coming year, albeit down from the three plus they anticipated in February. According to Westpac, households now, on average, believe that they will be paying an 8.4% mortgage rate by June next year.
<a href="/images/stories/Joyejune23/joyejune234.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/Joyejune23/joyejune234thumb.jpg"></a>
Source: Westpac Red Book
Why are households seemingly so convinced that they are about to get whacked by the interest rate stick? Almost certainly because of the RBA’s and certain economists’ (including, notably, yours truly), sabre-rattling about the spectre of higher rates. Of course, this pain has yet to materialise, which is almost exclusively due to the impact of an unprecedented sequence of disasters.
The latter started with the east coast floods, followed by NZ’s earthquake, then the oil price shock induced by the rolling Middle Eastern political turmoil (which continues to this day), the extraordinary earthquake-cum-nuclear calamity in our second-largest trading partner, Japan, and now a resurgence of European sovereign debt woes.
The natural and man-made turbulence in 2011 has conspired to disrupt both Australian and global growth and pushed the RBA to the sidelines. Some, such as Macquarie Bank, take a harder line, and contend that the RBA is starting to sound like “the boy who cried wolf”.
For the time being, however, the RBA’s jawboning has paid off (a subtle pun in this sentence for the central bank enthusiasts). That is, its so-called “open-mouth operations” have had the effect of de facto rate hikes.
Notwithstanding robust income growth, households are saving more than they have in 25 years, and they are avoiding taking out new debt. This is reflected in another intriguing suite of statistics published by Westpac and the Melbourne Institute, which document where households believe they should be putting their hard-earned savings. The chart below tells the story. There has been a structural shift away from shares and real estate towards cash, super and paying back debt.
 
<a href="/images/stories/Joyejune23/joyejune235.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/Joyejune23/joyejune235thumb.jpg"></a>
Source: Westpac-Melbourne Institute
As I predicted many years ago, this means credit growth will move in lock-step with incomes, not the double-digit rates that persisted during the 1990s and 2000s. Contrary to what the notorious doomsayer, Dr Steve Keen, would have us believe, it does not portend a cataclysmic, 40% fall in house prices, or a precipitous drop in the rate at which credit is extended.
It does, however, mean that the handful of institutions that dominate our banking sector will have to get used to much lower returns on equity, given that they have now effectively become the system, and cannot, by definition, grow faster than it (a point well-made in this <a href="https://www.joehockey.com/mediahub/speechDetail.aspx?prID=1078">landmark speech on the subject</a> late last year).
Christopher Joye is a leading financial economist and works with <a href="https://www.rismark.com.au/" 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. You can follow Christopher on twitter at <a target="_blank" title="Follow Christopher Joye" href="https://twitter.com/#!/cjoye" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">@cjoye</a> or read his blog.
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chrisjoye-JYhJsTrNRC

The interest rate hike we never had

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The queen of Australian fashion Collette Dinnigan has given Woollahra's burgeoning fashion precinct a fillip since the opening of her store on the Queen Street retail strip.
With her many dress lines and an ever-growing bridal business, Dinnigan took the retail space late last year – paying $195,000 a year in rent for the 130-square-metre  ground-floor premises.
The Sydney suburb of Woollahra’s prestige shopping precinct’s most recent sale was in this week, mid-June 2011, when the Howell and Howell antique premises fetched $4.25 million post auction through Richardson and Wrench agent Ben Vaughan in conjunction with Laing and Simmons agent John Knott.
<img src="/images/stories/howell.jpg">
The Howell shop has been bought by Alasdair MacLeod and his wife, Prudence, the eldest child of Rupert and Anna Murdoch, who beat off two other parties who had sought extended settlement terms.
Tenants are now being sought.
The Howells, Frank and Georgina, are off to the United States to be closer to family members.
It had last traded at $2,001,000 in 2000.  The 320-square- metre premises sits on a 203-square-metre block. Its estimated rental was given as between $200,000 and $240,000 a year.
Their departure heightens the strip’s shift away from antiques.
Once replete with regency furniture, Louis XV commodes and long-case clocks, Woollahra now has a who's-who of fashion within a two-kilometre radius: Sass &amp; Bide, Ksubi, Zimmermann, Camilla and Marc, Willow, Lisa Ho, Robby Ingham, Herringbone, Mother Baby Child, Saba, Quincy, John Cavill, Brunello Cucinelli, M.J. Bale, Scanlan &amp; Theodore, Ginger &amp; Smart and Kate Sylvester.
Few are like Akira Isogawa, who has been on Queen Street since 1994. It was 1986 when he arrived in Sydney from Japan, speaking no English, on a working holiday visa, and one of his first jobs was as a kitchen hand in a nearby Queen Street brasserie. He then studied at the Dress Design Studio of East Sydney Tech.
Dinnigan’s rental space became available following the departure to Redfern of Martyn Cook, the street's most ubiquitous antique dealer for the past 20 years. The premises sold at $4.6 million (exclusive of GST) to the discretionary investment trust Wyelba Pty Ltd, which is associated with the MacLeods, last year.
It was sold by the Roche family of Adelaide, who paid $1.02 million in 1990.
The nearby Queen Street shop of the late antiques dealer William Bradshaw was tenanted to Jacadi, the children's clothing store from Paris, following its $2.7 million sale.
Queen Street’s current listings include a retail showroom and private residence combined in a semi-attached mixed use through Ben Collier and James Dack at McGrath Estate Agents. Set to the north of Ocean Avenue, the property comes with approval for additional floor space and a double garage.
The street’s yields mostly range between 3% and 5%.
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jchancellor-FAypfDUnLy

Fashion royalty boosts Queen Street's leasing pedigree

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Glenfield, the Georgian colonial residence at Casula, NSW, deemed to be the most important house surviving from the Macquarie era, has been sold by the Historic Houses Trust for close to $2 million.
Dr Charles Throsby, the naval surgeon on the Coromandel, magistrate member of the Legislative Council and explorer, built the house in 1817, naming it after his birthplace near Leicester in England.
On his death in 1828, the convict-built residence was left to his nephew Charles Throsby, who built the 1834 Throsby Park residence in the Southern Highlands.
It remained in the family until the 1920s, when it was sold to the Leacock family.
The restored 14-room residence with lawn tennis court, orchard, privy, two-storey stables and a former dairy, is on 1.3 hectares on Leacock Lane.
It's something of a miracle that it has survived at all, let alone with most of its original features and outbuildings intact.
Before its acquisition by the HHT the vacant house was under threat from damage, vandalism, theft and termites.
It has been restored at a cost of about $1.8 million. It sits on a reduced holding since being bought in 2002 for $1.8 million from the Leacocks, when it was on 5.5 hectares.
It sold as a freehold holding through Garry Dunn at Dunn &amp; Horne Hammondville in conjunction with Darren Curtis and Ken Jacobs from Christie's International.
It was previously listed in 2008 on a variable long-term lease basis with a single up-front payment and a lease that can be assigned. There will be a requirement that the property be opened to the public on a number of days each year. The sale proceeds will be spent on saving other threatened buildings.
The restoration was undertaken by Clive Lucas, Stapleton &amp; Partners Pty Ltd.
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Heritage Georgian homestead finds 21st-century freeholder

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Hanging from a rock face 30 metres from the ground is not usually the time or place for thinking about your garden.
But for Phillip Johnson it was scaling the heights of the Grampians’ Mt Arapiles that inspired him to take a leap into the world of vertical gardens.
The daredevil-turned-horticulturalist has since taken his love for gardens to the most extreme and unlikely of places – the soaring wall of TRIO apartments in the Sydney suburb Camperdown.
Last month his 33-metre by five-metre vertical garden, which spans 12 storeys and includes 4,528 native plants, picked up the top gong for commercial landscaping at the Australian Landscape Excellence Awards.
<img src="/images/stories/trio.jpg" style="margin: 5px;">
The stunning design (pictured above), and Australia’s tallest living wall, was created in partnership with botanist Patrick Blanc, a flamboyant Frenchman whom Johnson describes as “the grandfather of green walls around the world”.
Their win was described as “pioneering” – a term Blanc knows well but one Johnson will have to get use to.
“It is still very early days in Australia,” he says. “The vertical garden movement is starting, but I say bring on the revolution.”
Johnson believes we are a good 10 years behind Japan and some cities in Europe and North America, which due to high-density living were more prone to greening up irregular spaces like walls and rooftops.
“In Japan idea of green walls is so evolved that they call them bio-lungs, which acknowledges the bio-diversity and the improved air quality they bring to the urban environment.”
Johnson says Australian developers and property investors need to understand that vertical gardens are more than just window and wall dressing.
“We all know what plants do for removing Co2, but these gardens also become living habitats attracting birds and butterflies to their buildings.
“They are also effective for insulating against heat and reducing city noise,” he says.
“Greening up our cities is in everyone’s interest, and contrary to what many people think, it doesn’t need to be complicated. If we use the right systems and have the proper level of maintenance, it can be achieved.
“And we need to show how landscapes like this can add value to property.”
Although it can be difficult and costly to install vertical gardens in existing buildings, the “revolution” depends on developers who see the benefits –but also the commercial viability – of including living green spaces in their new projects.
Frasers Property, the company behind Trio and the planned One Central Park apartments in inner Sydney, is one developer flying the green flag.
“We’ve looked carefully at the installation and operational costs of vertical gardens, and in our experience, they are no more costly to install than commonly used stone-clad facades, but they are clearly more appealing,” CEO Guy Pahor says.
“With respect to ongoing maintenance, when amortised across the 623 apartments at One Central Park, it will become a minor part of the overall building maintenance expense.”
<img src="/images/stories/onecentralpark.jpg" style="margin: 5px;">
The ambitious project (pictured above) led by celebrated architect Jean Nouvel and Patrick Blanc will incorporate 44,000 plants over 23 vertical panels (or 1,100 square metres) and seven linear kilometres of planter boxes containing an additional 150,000 plants.
The gardens are fed by an external hydroponic watering system using water collected from the site.
Pahor is convinced that “organic architecture is global and growing”, but other developers are less willing to meet the start-up and ongoing expenses.
At Hamton’s Eden development in the riverside Melbourne suburb of Abbottsford, installing permanent vertical and rooftop gardens was considered too costly, but also environmentally unsustainable.
“We worked with landscapers to create a look using creepers and planter boxes that softens the façade and blends in with the natural surrounds, but doesn’t require large amounts of water or energy-intensive lights to keep the plants alive,” Hamton managing director Steve Buxton says.
“This will ensure costs are kept down for residents.”
<img src="/images/stories/crystalgarden1.jpg">
A different approach is being taken by CK Designworks, which is designing the Crystal Gardens development in Russell Street (pictured above), in Melbourne’s CBD. The architect has designed the 35-storey building such that it will have a park every six storeys.
“Melbourne consistently rates as one of the world’s most liveable cities, partly due to its expansive parks and gardens, but developers should now look at rooftop gardens and high-rise parks as the next step in the greening of the world’s cities,” CK Designworks partner and project architect Robert Caulfield says.
<img src="/images/stories/skyparkanother.jpg">
Nearby at Melbourne’s Flagstaff Gardens, the planned SkyPark Tower hotel and apartments (pictured above) will include, as the name implies, an activity and fitness park high up on the 32nd floor.
The catch is that this park will be completely covered in synthetic grass and has no plants or vegetation.
Architect Billy Kavellaris, director of Kavellaris Urban Design, says vertical and rooftop gardens are often “good design initiatives”, but are not the only way to produce “good design outcomes”, particularly when it comes to engaging people in open spaces.
“They have become fashionable, but I am concerned they are often added on to justify the lack of other sustainability measures within the overall building or design,” he says.
“The SkyPark offers a critique on this discussion and is a good way to generate debate in the industry.”
<img style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;" src="/images/stories/skypark.jpg">
SkyPark Tower includes a half basketball court, gym, barbecue area and a climbing wall (pictured above), which unlike Johnson’s preferred rock face, will be completely devoid of plants and grasses.
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cknowlton-QnEa6ntUYP

Up in the air - it's a bird, it's a plane, it's a garden, as residential development goes green

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Measuring socioeconomic status of individuals, families, households, and geographic areas, is not straightforward.
Given socioeconomic status is generally unobserved, proxy measurements are therefore required.
The Australian Bureau of Statistics has recently sought to provide an insight into the perhaps old-fashioned measurement that defines relative socioeconomic advantage and disadvantage.
Income, consumption, wealth, education and employment are among the common concepts considered.
However, their relative importance can change substantially through time and across populations.
Whether a house has or doesn’t have broadband internet connection could now be used as a measure of socioeconomic advantage/disadvantage, albeit a relatively recent phenomenon.
On the other hand, colour televisions have become so ubiquitous that not having one is now more likely to be a choice made by households, as opposed to measuring material wealth.
The lack of access to a car may be highly relevant to socioeconomic status in much of Australia, but in the places where public transport is widely available and many amenities are close by, it is of less relevance.
Ultimately income, consumption, wealth, education and employment are the concluded key concepts used to measure socioeconomic status, according to the ABS.
One concept that predates socioeconomic status is poverty. Those in absolute poverty are generally considered unable to afford basic needs like food, clothing and shelter, whereas those in relative poverty tend not to have access to the minimum economic resources that one would expect in the particular society or economy. The ABS suggests poverty is a slightly different concept than socioeconomic status, as those in poverty are likely to have low socioeconomic status.
However, there are also likely to be a number of people who would be accorded low socioeconomic status based on other indicators, but who would not be considered as being in poverty using a more restricted set of indicators.
Wellbeing, on the other hand, sits as a broader concept than both poverty and socioeconomic status. According to the ABS, wellbeing is “a state of health or sufficiency in all aspects of life”. So, while a person’s socioeconomic status would tend to be a component of his or her wellbeing, a person’s interaction with the natural, built and social environments, as well as physical, mental and emotional health, are also vital components.
A third related concept is that of social exclusion, whose definition is often highly contested and may be interpreted very differently in different contexts.
However, a useful definition of social exclusion is “an individual is socially excluded if he or she does not participate in key activities of the society in which he or she lives”.
Social exclusion, therefore, focuses on a person’s activities or actions, whereas socioeconomic status refers to a person’s access to social and economic resources.
A fourth alternative concept, human development, focuses on ensuring that people have the capabilities to lead lives that they value. Without basic capabilities, such as health care and education, many opportunities in life are inaccessible.
"This is also known as capability deprivation, which is a concept initiated by Amartya Sen as an alternative measure of poverty. Capabilities are influenced by an individual’s characteristics such as age, sex, disability status and educational attainment. Some characteristics, such as having a disability or illness, being on older person or having low educational attainment, can then lead to particular population groups earning lower incomes, which, in turn, lead to being deprived of some basic capabilities and, therefore, potentially to a lower quality of life," the ABS report says.
When it comes to the wealth of housing, the ABS notes it is one of the most commonly used wealth measures.
It points out while not owning one’s own home is a reasonable indication, on average, of low household wealth, the indicator for home ownership misses a large amount of the variation in wealth across Australian households.
It misses remaining assets including superannuation, savings held in a bank and financial equities.
Secondly, it does not take into account the actual value of the home, nor the amount that is still owed on the home.
As this information is not available from most data sources, the ABS acknowledges the limitations of commonly used variables for wealth should be kept in mind when calculating the socioeconomic status of particular households.
It concludes it is often the case that administrative data records include limited person-level information. While some datasets capture age, sex and occupation, they may not have details on income, family composition or educational attainment. Often administrative data sets contain limited demographic information. Without this demographic detail, it becomes difficult to use the administrative datasets for socioeconomic analysis.
For the above reasons, among others, the ABS also undertakes a range of sample surveys. The aim of these surveys is to obtain information from a nationally representative sample on a single topic or range of topics.
There will be perhaps a clearer indication from the Survey of Income and Housing, which will be issued in August.
The SIH is a household survey that collects the amount of income receivable through each source of income, wealth information, housing characteristics and demographic and person-level information for household members. Income data are collected on both a current basis and for the previous financial year. The primary purpose of the survey is to inform on the social and economic welfare of Australians, including the distribution of household income and wealth.
In addition, the data collected contribute to the compilation of key performance indicators for housing affordability that have been agreed by the Council of Australian Governments.
Collecting demographic indicator data and details about the dwelling and the residents in the household is important.
But it is equally important to detect trends such as the fact that over recent decades, households have tended to become smaller as the number of families with relatively large numbers of children has fallen and the number of elderly couples and number of elderly people who live alone have both increased, according to the ABS.
These household compositional changes have generated far greater demand for housing than might be expected from population growth if average household sizes had remained the same. They have also given rise to demand for different housing options.
Details, such as main source of household income, number of employed persons in the household, value of dwelling and household type, provide contextual information required to help plan our collective housing future.
The ABS review involved input from Dr Nicholas Biddle, Research Fellow in the Centre for Aboriginal Economic Policy Research (CAEPR) at the Australian National University.
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There's more to socioeconomic status than housing

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Some 83% of consumers expect rates to rise over the next year, but that’s down on the 91% recorded in February, according to the latest Westpac Melbourne Institute index of Consumer Sentiment.
Notably, just 26% in June (versus 38% in February) expect rates to rise by more than 1%, according to the Westpac Red Book, edited by Westpac senior economist Matthew Hassan.
Just over 12% of consumers now expect rates to stay unchanged over the next year (versus 7% in February), and 4% expect rate cuts, against 2% in February.
Average mortgage rates were unchanged between the two surveys.
The detail shows a broad softening in rate rise expectations but a particularly big mark-down in Queensland, which went from having the most hawkish consumers in February to the most dovish in June.
Younger age groups also cut rate expectations more aggressively and are notably less hawkish.
Consumers appear more hawkish on rates than markets and most economic forecasters. The spread of responses in June points to an average expected rise of 58 base points by June next year, well down on the 77 base points expected in February. That implies a standard variable mortgage rate of 8.4% by June 2012.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/wesstpacjune22big.jpg"><img src="/images/stories/wesstpacjune22.jpg"></a>
Source: Westpac Red Book
The overall Westpac–Melbourne Institute Index of Consumer Sentiment slipped 2.6% in June, from 103.9 in May to 101.2. Although the move was small and the index is still in optimistic territory, the index is now at its lowest level since June 2009, when Australian households were realising the local economy had ducked the worst of the “great recession” that had engulfed the major developed economies but were still fearful of the near-term outlook, according to Hassan.
Consumer views on whether now is a “good time to buy a dwelling” are less upbeat than responses to the other “time to buy” questions but still showing notable resilience. At 115.4, the index tracking responses is about seven points below its long-run average but a touch above the average since 2001, comfortably in optimistic territory (i.e. above 100), and well above the lows seen in previous market “corrections”.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpac2big.jpg"><img src="/images/stories/westpac2.jpg"></a>
Source: Westpac Red Book
However, Hassan notes market conditions are soft. Prices are slipping lower in most markets at about a 2% annual pace over the last six months. Auction clearance rates are also down sharply and near previous lows in Sydney and Melbourne.
"Conditions are notably weaker in Queensland, where Brisbane house prices are falling faster (at a 6% annualised pace) and have experienced a bigger correction to date (-6.9% versus -5.4% in 2008-09). The floods in early 2011 hit building activity, although they also reduced dwelling stock. The Queensland “time to buy a dwelling” index jumped sharply in June but has been very erratic this year. The Queensland Government’s latest decision to remove some stamp duty concessions will be a hit in the near term," the Red Book says. 
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Home buyers and investors more hawkish than economists

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Institutional developers are showing interest in residential development sites in suburbs and regional areas close to Canberra.
There is particular interest in the ACT region due to a shortage of available land, strong wages growth, unemployment holding steady and overall good local economic conditions, according to Tim Mutton, associate director of consultancy at Colliers.
In addition, private developers are looking to get into a market that has to date primarily been developed by the ACT Government.
Mutton recently negotiated the sale of a 35-hectare site in Ngunnawal to the Village Building Company for $36.25 million in an auction that attracted beds from 11 local and interstate companies.
The sale comes as the ACT Government’s Land Development Agency has announced it will sell the first sites on the eastern side of the Kingston Foreshore project.
CB Richard Ellis agents Mark Nicholls and Andrew Stewart have been appointed to market the three sites in a precinct known as “The Peninsula” with tenders due to close September 29, 2011.
The three blocks, which have a total area of 9,925 square metres, can accommodate approximately 300 residences. They have a mixed-use zoning, allowing for significant flexibility in relation to any future development.
Mutton says the Ngunnawal site is attractive “due to its size, location and likely position within the market when finally developed”.
Another factor in its appeal is its pricing.
Village chief executive Bob Winnel has suggested two bedroom homes will be priced at about $335,000, and the three-bedroom house-and-land packages will be priced from $365,000 to $400,000.
Mutton says there is strong interest in the ACT in retail blocks priced between $400,000 and $450,000.
“The estate was priced at a point where the market is interested,” he says. Furthermore, according to Mutton, the Ngunnawal block is just big enough to attract interest from large institutional developers.
Approximately 475 dwellings will be built on the Ngunnawal site, situated 18 kilometres from the CBD.
The winning bid came from the Canberra Estate Consortium No 30, a subsidiary of the Village, which has committed to providing 122 two-bedroom houses and a further 102 three-bedroom house-and-land packages.
The development will be completed over the next three years and will comprise townhouses, villas, duplexes, free-standing homes and larger residential lots.
In the next few months 131 blocks of land ranging in size from 420 square metres to 900 square metres and priced from $220,000 to $355,000 will go to market.
The Village is currently developing The Fair at North Watson, 6.6 kilometres from the Canberra CBD. It will comprise 316 homes upon completion.
Other Village developments underway include Nexus on Flemington Road in Gungahlin, where 110 one- and two-bedroom apartments are being sold priced between $299,000 and $374,000.
The Ngunnawal auction was conducted by Colliers International on behalf of the Land Development Agency.
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Housing developers showing interest in ACT: Colliers

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The outlook for A-REITs, or Australian real estate investment trusts, is modest, reflecting a stabilising property market.
The Australian listed real estate sector is currently trading an average discount to net tangible assets of -3.3%, according to Russell Investments.
News of the modest discount comes as a number of trusts report full-year distributions either in line with or slightly exceeding expectations.
Stockland Group, the third biggest A-REIT, will pay out 11.9¢ per ordinary stapled security for the six months to June 30, just above a forecast of 11.8¢.
Charter Hall, currently awaiting a vote on a management change, will pay a distribution of 16.5¢, compared with expectations of 16¢.
A share price at a substantial discount would indicate that “something was clearly going on”, Martin Lamb, director of Asia-Pacific Real Estate Investment, tells Property Observer.
But, he says, the current modest A-REIT discount suggests the market price is fair and reflects the current state of the property market in general.
“Property prices are stabilising,” Lamb says.
“We see future price appreciation driven by increasing incomes, a rise in occupancies followed by a modest rise in rents.
“The fundamentals of the market remain strong. The outlook for the economy is positive, if not exuberant. We are not anticipating price depreciation.”
Lamb says the current discount is a reflection of investor confidence – “noise has been introduced”.
“Forecasting investor sentiment is difficult. REITs trade in sympathy with the financial stocks. “They can have a negative impact on REIT stocks, but don’t affect the underlying value of the properties held by the REITS,” he says.
Investors generally invest in REITS in expectation of a steady income and are generally not looking to make “deep value” capital appreciation plays, Lamb says.
REITs offer investors returns between 8% and 12%.
The A-REIT market is dominated by Westfield and Stockland, which combined account for more than 50% of its market capitalisation.
 <table border="0" cellpadding="0" cellspacing="0" width="469"><tbody>
<tr>
<td nowrap valign="bottom" width="153">Company</td>
<td valign="bottom" width="94">
 Sector
</td>
<td valign="bottom" width="92">
 Business Type
</td>
<td valign="bottom" width="130">
 Market Capitalisation (US$, million)
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Westfield Group
</td>
<td valign="bottom" width="94">
Retail
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
21,295
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Westfield Retail Tst
</td>
<td valign="bottom" width="94">
Retail
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
8,424
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Stockland
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
8,582
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Leighton Holdings
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Developer
</td>
<td valign="bottom" width="130">
6,866
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
GPT Group
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
6,075
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
CFS Retail Tst
</td>
<td valign="bottom" width="94">
Retail
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
5,538
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Goodman Group
</td>
<td valign="bottom" width="94">
Industrial
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
5,334
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Lend Lease Group
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Developer
</td>
<td valign="bottom" width="130">
5,319
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Mirvac Group
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
4,621
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Dexus Property Grp
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
4,568
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Commonwealth Office
</td>
<td valign="bottom" width="94">
Office
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
2,463
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Investa Office Fund
</td>
<td valign="bottom" width="94">
Office
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
1,882
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Charter Hall Office
</td>
<td valign="bottom" width="94">
Office
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
1,875
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Australand Property
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Developer
</td>
<td valign="bottom" width="130">
1,761
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Charter Hall Retail
</td>
<td valign="bottom" width="94">
Retail
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
1,104
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
BWP Trust
</td>
<td valign="bottom" width="94">
Retail
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
907
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
FKP Ltd
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Developer
</td>
<td valign="bottom" width="130">
835
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Charter Hall Group
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
681
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Challenger DPG
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
539
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Peet
</td>
<td valign="bottom" width="94">
Residential
</td>
<td valign="bottom" width="92">
Developer
</td>
<td valign="bottom" width="130">
506
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Ardent Leisure Group
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
433
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Thakral Holdings
</td>
<td valign="bottom" width="94">
Diversified
</td>
<td valign="bottom" width="92">
Investor
</td>
<td valign="bottom" width="130">
382
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153">
Total market cap
</td>
<td valign="bottom" width="94">
 
</td>
<td valign="bottom" width="92">
 
</td>
<td valign="bottom" width="130">
74,702
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="153"></td>
<td valign="bottom" width="94">
 
</td>
<td valign="bottom" width="92">
 
</td>
<td valign="bottom" width="130"></td>
</tr>
</tbody></table>
Source: UBS Global Real Estate Weekly Valuation
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