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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The conflicting messages in the media lately have left many investors wondering where Australia’s property markets are heading. Even the different research organisations seem to be coming out with conflicting reports about what’s happening to property prices.
 Then there has been increasing concern about economic problems overseas, plus reports of further interest rate rises on the horizon. No wonder so many investors are wondering: what comes next?
The problem is that many of these investors have not owned properties throughout a complete property cycle, and this makes them uncomfortable as we move through the various stages.
Today I will delve into my memory and see what we can learn from previous cycles to help you understand where our markets are heading.
 But before I do I’d like to remind you that while we’re currently in the slower stage of the property cycle, the bottom line is that as a long-term investment, property is hard to beat.
I remember reading a research report from Massey University suggesting that Australian residential property has been the best-performing asset class over the long haul. The study dated back to 1920 and showed that property produced an average return of around 15% per annum (combining rental income and price gains) since that time.These figures don't really reflect how good property is as an investment, as they don't take into account the power of leverage and the higher returns you can obtain on your own funds. When you factor this in, property far outperforms all other asset classes over the long term.
 But while there's little doubt that property is a potent wealth-builder in the long term, it goes through the same kinds of cycles as other investment classes, which means that the reported high long-term average returns take into account periods of very high growth and also periods when property went nowhere for a few years.
 
<hr class="system-pagebreak">
 
Think of the ’80s
 Back in the early 1980s house prices across most of the capital cities were stagnant. Melbourne's median house price languished at about $50,000 from 1980 to 1983, then grew steadily but unspectacularly before really taking off in 1987.
 In Sydney, the median house price reached about $80,000 in 1981 and stayed there for the next four years. Perth prices were falling in 1983, and Brisbane house prices were going nowhere after a year or two of 25% returns in the early 80s. It took until 1987 before these property markets all began to boom again.
 After crashing in 1990, property prices in Sydney and Melbourne stayed flat until 1995 and then they started moving slowly upwards. And it wasn't until 2000 that prices in Brisbane finally took off after a decade of growing at 5% or less per year. Interestingly, this was despite a huge influx of immigrants from other states coming to the sunshine state.
 In Perth, a short recovery followed the boom and bust of the late 1980s and early 1990s. The market there ambled along, with annual returns at about 6% until its boom in the middle of last decade, where Perth's median property price overtook all capital cities other than Sydney.
 In the last year or two some of our property markets performed strongly while others languished. Melbourne and Sydney were of course the shining stars, with a couple of years of strong growth.
The lesson to learn from all of this is that as a property investor you must be aware of and prepared for these cycles.
Sure, it's hard when you are in the middle of the flat period of the property cycle, as Brisbane and Perth have been for a few years. But look at the property prices that prevailed 10 and 20 years ago and look at property prices today. Property investment is a long-term play – you need to be patient, as values in our major capital cities have doubled every seven to 10 years.
 What causes the cycles?
 What were the factors behind those cycles? It's the old story of supply and demand. Property prices are pushed up by the demand created by a healthy economy, by high levels of employment, population movements caused by migration and immigration and positive market sentiment.
They are dragged down when the economy performs poorly, when interest rates rise, when employment and immigration figures fall, when supply exceeds demand and when the marketplace is nervous about wealth and the future.
 Cycles are an inevitable part of any investment market, and our property markets are behaving normally at present.
 One more thing: there are local, as well as national, property cycles. Each state is at a different stage of its property cycle, and within each state there are cycles within the various suburbs.
 
<hr class="system-pagebreak">
 
What’s ahead for property?
 Eventually the cycle will move on – it always has. Traditionally the more affluent suburbs tend to perform well at the beginning of the property cycle, and that's what is likely to happen again this time around.
 As our economy and the sharemarket pick up, more affluent Australians will be back in the market upgrading their homes. Many will be many chasing similar types of property, which will push up values in our more “upmarket” suburbs. As values increase in these innerring suburbs, the price differential between these and their neighbouring suburbs will increase. Soon buyers will start looking for “bargains" in these adjoining suburbs, and the increase in property values will ripple out to the middle-ring suburbs.
 This increase in property values and higher rents will start to draw investors back into the market. However, many beginning investors will hold back at this early stage of the property cycle, waiting for more signs of certainty.
Of course while they are waiting many will miss out on significant property price growth the savvy investors who get in early and buy counter-cyclically will enjoy.
 What about affordability?
 Every cycle I hear the cry "Property prices are too high! They can't keep going up like that", I remember it in the early 1980s and then again in the late ’80s, when people said house prices just couldn’t go up any more. "They are so high our children will never be able to afford a house" was the catch-cry, but prices doubled over the next decade.
 Of course, many are saying the same again now. However, while most of us are sympathetic to the plight of the average first-home buyers struggling to get into their first properties, I feel that even if they don't admit it, secretly most home owners enjoy hearing how house prices keep rising.
Those of us already in the "game" take comfort from the fact that our homes, our castles, are quietly but consistently increasing in value. And deep down we hope this continues because not only does it make us feel wealthier, it actually makes us wealthier.
 There is no doubt that affordability will be an issue for many in the future and this will limit the growth of property prices in some areas more than others. For example, first home buyers and those in the lower socio-economic brackets are more likely to be affected by rising interest rates than those with more disposable income.
 What this means is that some areas – particularly new suburbs and the lower-priced suburbs – will perform worse than the more affluent suburbs as the cycle moves on.
 Business as usual
 In summary, our property markets are behaving normally, working their way through their individual property cycles. Within each state the property markets are fragmented, with some suburbs holding their values well and sometimes slowly increasing in value while other suburbs, particularly the outer "mortgage belt" suburbs, languish.
These cycles mean there are great opportunities out there for property investors who are selective and think long term.
Are you ready to exploit the opportunities that will arise?
 
Michael Yardney is the director of Metropole Property Investment Strategists, a best-selling author and one of Australia's leading experts in wealth creation through property. For more information about Michael visit <a href="https://www.metropole.com.au/">www.metropole.com.au</a> and <a href="https://www.propertyupdate.com.au/">www.PropertyUpdate.com.au</a>.
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myardney-DFoGhGbSJX

Learn from history

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Residential tenancy legislation
Laws regarding residential tenancies in New South Wales are covered by the <a target="_blank" href="https://www.legislation.nsw.gov.au/maintop/view/inforce/act+42+2010+cd+0+N" title="New South Wales Residential Tenancies Act">Residential Tenancies Act 2010</a>  and by the <a target="_blank" href="https://www.legislation.nsw.gov.au/maintop/view/inforce/subordleg+664+2010+cd+0+N" title="New South Wales Residential Tenancies Regulations">Residential Tenancies Regulation</a> 2010. These laws came into effect in January 2011, and a Q&amp;A addressing some common concerns about them can be found <a target="_blank" href="https://www.rpemery.com.au/rental_agreement/new-tenancy-laws-NSW." title="New South Wales Residential Tenancies Act Q&amp;A">here</a>.
Further information for residential landlords The NSW state government has a <a target="_blank" href="https://www.fairtrading.nsw.gov.au/Tenants_and_home_owners/Being_a_landlord" title="New South Wales guide for landlords">guide for landlords</a> on its website.
Dispute resolution for residential tenancies Disputes regarding tenancy in New South Wales are handled by the <a target="_blank" href="https://www.cttt.nsw.gov.au/default.htm" title="New South Wales Consumer, Trader and TenancyTribunal">Consumer, Trader and Tenancy Tribunal</a>.
Further resources The <a target="_blank" href="https://www.reinsw.com.au/" title="Real Estate Institute of New South Wales">Real Estate Institute of New South Wales</a>, <a target="_blank" href="https://www.poansw.com.au" title="Property Owners Association of New South Wales">Property Owners Association of New South Wales</a>, <a target="_blank" href="https://www.propertyoz.com.au/NSW/Division/Default.aspx" title="NSW division of Property Council of Australia">Property Council of Australia</a> and<a target="_blank" href="https://www.ntd.net.au/index" title="National Tenancy Database"> National Tenancy Database</a> are other resources that can be useful for landlords of residential properties.
Commercial tenancy legislation Owners of commercial properties in New South Wales can find information about retail tenancy on the NSW state government’s <a target="_blank" href="https://www.fairtrading.nsw.gov.au/Businesses/Retail_tenancy" title="NSW commercial tenancies information">website </a>. Retail leases in the state are governed by the <a target="_blank" href="https://www.legislation.nsw.gov.au/maintop/view/inforce/act+46+1994+cd+0+N" title="NSW Retail Leases Act">Retail Leases Act of 1994</a>.
Dispute resolution for commercial tenancies Any disputes regarding retail tenancies must be mediated by the <a target="_blank" href="https://www.fairtrading.nsw.gov.au/Businesses/Retail_tenancy/Resolving_retail_tenancy_disputes" title="NSW commercial tenancy dispute mediation">Office of Fair Trading</a> , but if this does not resolve the dispute, the matter can be escalated to the <a target="_blank" href="https://www.lawlink.nsw.gov.au/lawlink/adt/ll_adt.nsf/pages/adt_retail_leases_division" title="NSW Administrative Decisions Tribunal">Administrative Decisions Tribunal</a>.
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cknowlton-QnEa6ntUYP

Useful links for landlords in NSW

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Question: 
My husband and I are considering buying our first investment property. Given the current economic climate, is now a good time to be investing in property? Secondly, we are thinking of buying the property through a trust my husband set up as part of his self-managed super fund – what are your thoughts?
Answer: 
While there never seems to be an ideal time for investing in property, the number one rule is to try and take the emotion out of the process. This is easier said than done; however, here are some suggestions that may help you and other readers in achieving “emotion-free property investment nirvana”. Remember that property by and large is a safe long-term investment but it does move in cycles and the more you understand these cycles (both local and national) the better.
<ul>
<li>Remember that property by and large is a safe long-term investment but it does move in cycles and the more you understand these cycles (both local and national) the better. 
<ul></ul>
</li>
<li>Are you looking to own investment property for a regular income stream or leverage it for long-term capital gain? My suggestion would be the latter.</li>
<li>Find the right deal – the competitive lending landscape is making now an ideal time to look for a deal, but you need to do your research. 
<ul></ul>
</li>
<li>Adopt the right attitudinal mindset and look at the bigger picture. If you do you’ll see that the currently low interest rates and strong rental demand are both welcome factors for property investors. 
<ul></ul>
</li>
<li>Create a “buffer” to help you fund the property in difficult times.</li>
</ul>
I would argue that right now is not a bad time to consider investing in property, you just need to buy in the right geographic area where the cycle is more on your side than against you. However, you and your partner need to ask yourselves one further question: do you feel confident with your decision? For example, if a tenant moves on and the property lies vacant for a number of weeks, will the short-term loss of income create a significant problem? If not, I would say you are ready to take the plunge.
Whether you should own the property through your husband’s trust or in your own name depends very much on your specific circumstances. There is certainly no “one size fits all” approach, and you should speak to a specialist who can advise you on the advantages versus the disadvantages (and there are some subtle nuances through asset ownership in a trust) before making your decision.
In general, there are three broad benefits of owning a property through a trust structure.
1.       Income generation It is critical to have a properly drafted deed based on your circumstances (i.e., you must have a reasonable expectation that your investment will recoup your costs and make a profit, in other words the rent you receive over time will become greater than your expenses).
2.       Asset protection Trust law has, as part of its central core, the fundamental principal that ownership is by the trust and beneficiaries or unit holders (in most trusts) don't have a right or ownership to the underlying assets of the trust. This can be beneficial in the event of litigious circumstances.
3.       Estate planning Trusts can be useful tools when looking at estate planning needs. In essence, a trust is a structure whereby the "family" can control its assets for the benefit of the family now and in the future, passing on assets from generation to generation and in many instances without incurring stamp duty or capital gain tax.
In conclusion, buying through a trust mechanism, as part of a self-managed super fund, is an excellent way of long-term wealth generation, asset protection and passing on assets within the family. However, it's absolutely imperative that your accountant has the right trust deed in place from the outset and knows how to use and manage the trust moving forward as non-compliance is invariably what causes problems further down the track.
 I wish you luck.
Ken
Ken Raiss is a certified accountant and director of <a target="_self" href="https://www.chan-naylor.com.au/" title="Chan &amp; Naylor ">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance.
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kenraiss-JsVyb3YKka

Should you buy an investment property through a trust?

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The Sydney and Brisbane office markets are entering an accelerated period of rental growth, according to a new global report by CB Richard Ellis.
The report also shows that Australia office rents are cheap by comparison to other key office markets, such as Hong Kong, Singapore and Mumbai.
CBRE ranks Brisbane and Sydney alongside Mumbai, Bangalore, Taipei and New Delhi in terms of rental growth potential in its latest Market View report of Asian Pacific offices for the March 2011 quarter.
 <img src="/images/stories/sydney%20colliers-1.jpg">
Melbourne and Perth are further along the accelerated rental growth cycle, and rental growth in Canberra and Adelaide is slowing.
According to CBRE data, rents in Sydney grew three times faster (0.9%) in the first quarter of the year than they did between March 2010 and March 2011.
Brisbane office rental also remain strong, matching growth of 0.8% for the year in the first quarter of 2011.
The report says rental growth is gathering momentum in Sydney and Adelaide as landlords reduce incentives, while the development outlook for the Brisbane CBD and nearby suburbs is strong due to a lack of large office spaces in the CBD to meet demand.
Adelaide continues to perform strongly but is starting to slow down. CBRE data show that this market grew by 8.2% for the 12 months to March 2011, but by only 1.8% for the first quarter of 2011.
Perth has the most expensive prime office rents, averaging $650 per square metre per year, followed by Sydney at $607, Brisbane at $624, Melbourne at $434, Adelaide at $369 and Canberra at $352.
Australian office rents are cheap by comparison with the major metropolises in Asia Pacific.
Sydney’s average rent equates to an average of US$58 per square foot, but in central Hong Kong, by far the most expensive place to rent office space in the region, one square foot of office space costs US$186 per square foot. The next most expensive are inner Tokyo (U$124) and Mumbai’s Bandra-Kurla Complex (US$109.50).
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lschlesinger-FZcF9M3vE6

Sydney and Brisbane office rents cheap but growing: report

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The fall in house prices in expensive suburbs has been the biggest drag on median values in capital city dwelling markets over the past year, with the trend continuing during April, according to the Rismark RP Data index.



Dwellings in the most expensive capital city suburbs recorded a 5.4% slump over the past year to April 2011.

“The uber-luxury segment is risky and highly illiquid and has the rug whipped from under it via a combination of the soaring Aussie dollar and the volatile share market,” Rismark joint managing director Christopher Joye says.

“Luxury homes in areas like Sydney’s eastern suburbs will continue to face valuation headwinds as banks deal with the new normal of subdued credit growth.”

Joye suggests another fly in the ointment is the much lower growth – and pay packets – expected in the financial services industry.

By contrast, the Rismark RP Data Index found home values in the middle 60% of suburbs were down by 0.9%.

Dwellings in the cheapest 20% of suburbs were the best performers, easing just 0.5%.
<img src="/images/stories/april%20rp%203.jpg">
 
Capital city dwelling markets declined by 0.3% during April, according to seasonally adjusted figures. It was the fourth consecutive month in which a fall was recorded.


The national median dwelling price across Australia stands at $418,000, with a $468,000 median in the eight capital cities.

Sydney dwelling values eased 0.5% (seasonally adjusted) to a $515,000 median in the three months to April.

Perth, Brisbane and Adelaide had the most turbulent three months. Brisbane was the weakest capital city, with values 3.1% (s.a.) to $430,000. Adelaide values slipped 2.3% (s.a.) to a median price of $381,000, and Perth values fell 3% (s.a.) in the past three months to a $468,250 median.

Darwin values eased just 0.2% (s.a.) to $442,250, and Hobart values were down 2.0% (s.a.) to $315,000.

The best-performing capital city was Canberra, with values up 0.8% (s.a.) over the April quarter to $490,000.

The report noted over the three months since the January floods, dwelling values in Australia’s capital cities have tapered by – 1.2% on a seasonally-adjusted basis.

In raw terms, dwelling values have declined by a more modest – 0.2%.

“The difference between the raw and seasonally adjusted results reflects the fact that the housing market typically experiences higher rates of capital growth at the start of each year, which is reflected in the seasonally adjusted data,” Joye says.



“The solid performance of cheap suburbs runs against the grain of popular claims that default rates are rocketing up amongst first-time buyers, which the RBA recently rejected,” RP Data head of research Tim Lawless says.

“The luxury end of the housing market is showing its volatility.
 During the growth phase of the cycle the most expensive homes realised the highest capital gains.
“Yet as the market cools premium home values seem to be losing steam the fastest,” Lawless says. 



Rismark expects at least another one to two rate hikes this year, which will solidify the cooling in residential valuations.

According to Lawless, monthly movements in capital city home values have flattened out after the record-low seasonally-adjusted reading for January which was affected by a range of natural disasters.

“On a month-to-month basis, the January result was the worst on record with capital city dwelling values down –1.2 per cent (seasonally-adjusted).

“Since that time the magnitude of declines has moderated noticeably with average monthly seasonally adjusted falls of –0.4 percent between February and April. 

“Thus far this has been a very controlled exit from the strong growth conditions of 2009 and the first half of 2010,” Lawless says.
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Prices tumble in top end of town

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If current home ownership trends continue, one in four Australian retirees will be renters rather than home owners by 2040, a new white paper by Australia’s largest superannuation fund claims.
Rather than invest in property, people are choosing to invest more money in their super funds. Data compiled by REST Industry Super shows that in 2000, 18.6% of those aged between 45 and 54 had more than $100,000 in their superannuation funds. By 2007 this had risen to nearly 27%. The proportion of people aged between 35 and 44 who had between $50,000 and $99,999 invested in super increased from 10.4% to 18.4% over the same period.
Correlating this with ABS home ownership data from 1995-96 to 2007-08, the report shows that the percentage of people under 35 who either owned their homes outright or were paying off mortgages declined from 45% to 37%. If this pace of decline continues, the report argues, it is “inevitable that for an increasing number of Australians, buying property will no longer be the largest investment they make in their lifetime”.
The decline in home ownership is more pronounced the younger the age group. Extrapolating the current 2007-2008 home ownership data reveals that by the time those currently aged between 45 and 54 reach 65, in the next eight to 17 years, one in five will retire without owning their own home.
When those currently aged 35 to 44 reach retirement age, a quarter will not own their own home. And by the time today’s 25- to 34-year-olds reach 65, in 28 to 37 years, a third will be still renting.
“This trend in declining home ownership reflects a combination of both choice and necessity. Some people in younger generations are consciously deciding not to purchase a home. Meanwhile, others want to buy a home but are unable to because of the reduced affordability of housing, especially in capital cities,” the report says.
According to REST Industry Super, the dual trends of lower home ownership and rising superannuation balances means that individuals who do not own their homes will need to ensure they have sufficient alternate retirement savings, which may include superannuation savings.
The median superannuation balance for 55- to 64-year-olds was about $70,000 in 2007. “Unless this is supplemented by other retirement income, like a home or investment property, $70,000 is unlikely to be adequate to support someone through the 15-25 years of their retirement. Retirees will be heavily reliant on the age pension and associated benefits,” the report says.
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Home ownership dream could be in twilight years

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The struggling new home building industry will be in even worse shape should the RBA decide to raise interest rates this year, the Housing Industry Association has warned. 
The warning comes on the back of new home sales increasing by just 0.2% in April, according to the latest HIA – JELD-WEN New Home Sales Report.
Detached house sales increased in NSW (7.8%) and Victoria (2.2%), but fell in Queensland (1.5%), South Australia (0.5%) and Western Australia (10.3%). The sale of multi-unit buildings posted a third consecutive monthly decline, falling by 2% nationwide.
HIA chief economist Harley Dale says the new home building industry is “struggling under the weight of excessive taxation and regulation, a stalled housing supply reform process, and uncertainty over interest rates".
“That profile is an unfortunate indictment of the weak new home building conditions prevalent in 2011 amidst a growing housing shortage, but it’s nothing compared to what we’ll see if another rate hike bullet is fired,” Dale says.
For the year to April, Dale says new detached house sales are running at a volume 22% lower than the long-term average, and new multi-unit sales are down by more than half.
“An industry kick-start is required together with a reinvigoration of the reform process,” he says.
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New home sales could worsen, says HIA

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Collapsed bookseller REDGroup has highlighted rental costs as a major issue facing retailers as part of its submission to the Productivity Commission’s inquiry into the retail industry.
REDGroup, owner of Borders and Angus and Robertson, currently in administration, wrote in its submission – seen by the AFR – that although Australian businesses’ average sales per square metre are equal to those of their global peers, average square metre retail leasing cost costs $770 in Australia, the highest in the world.
“As the bricks-and-mortar retailer revenue model becomes increasingly challenged, so will the current rental cost model,” REDGroup wrote in its submission. “Landlords who have transparency of their tenants’ sales performance will need to review their rent models as retailers start to question the value of bricks-and-mortar stores beyond the ‘flagship’ store in key locations or hubs.”
Borders rented on Pitt Street Mall in Sydney, among other locations. According to a Spring 2010 Colliers report, the average weekly retail rent in Sydney on Pitt Street Mall sat at US$769 per square metre, the sixth most expensive in the world. Paris’s Champs-Elysees ranked as the dearest retail rent at $1,255 per square metre, followed New York’s Fifth Avenue at $1,250, Russell Street in Hong Kong at $1,205, London’s Bond Street at $1,174 and Milan’s Via Monte Napoleone at $929, according to Colliers.
Concerns over rental costs come as a deed of company arrangement is due to be agreed this week between administrator Ferrier Hodgson and the group’s creditors.
REDGroup went into voluntary administration on February 17 this year owing about $8 million to employees, $118 million to secured creditors and $44 million to unsecured creditors.
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REDgroup says retail rent too high

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A combination of low unemployment and rising household incomes should ensure that the rate of prime mortgages 90 days or more in arrears remains under 1%, according to Tim Lawless, head of research at RP Data.
Lawless was speaking to Property Observer on the back of the latest Fitch Dinkum Index, which revealed that rate of second-tier residential mortgage-backed securities (RMBS) loans more than 90 days in arrears had increased. Arrears jumped from 0.54% in the fourth quarter of 2010 to 0.65% in the first quarter of 2011.
This is still under the 0.72% recorded for arrears of more than 90 days in the December 2008 quarter during the height of the GFC.
 “It is very doubtful we will see prime loan delinquencies rise much higher than the current rate, considering unemployment is so low and household incomes are rising at a rate more than double that of CPI,” Lawless says.
“As evidenced by the high rate of household savings, it is likely that most Australian mortgage holders are focusing on paying down debt rather than spending.”
According to Lawless, “Australia’s full-recourse lending regime is a major incentive when it comes to debt payment.
“The vast majority of Australians will adjust their spending patterns and make lifestyle sacrifices before they fall behind on their debt payments,” he adds.
A report in The Sydney Morning Herald highlighted efforts made by the major banks to breathe life into mortgage lending by a combination of discounts on mortgage rates and lower lending requirements on prime mortgages.
Commonwealth Bank of Australia has increased its loan-to-valuation ratio from 90% to 95%, and Westpac is allowing people to borrow up to 85% of the value of their homes without requiring lenders mortgage insurance.
The Fitch Index recorded that delinquencies of more than 30 days in the Australian prime RMBS sector reached a record high of 1.79% in the first quarter of 2011, up 42 base points from the December 2010 quarter. The previous peak was in December 2008.
Fitch analysts believe RMBS delinquencies have peaked in the current cycle and expect them to “fall slightly in either quarter two, 2011 or quarter three, 2011 as the usual seasonal effect dissipates and borrowers affected by flooding are expected to receive financial support and for business conditions stabilise”.
 The prediction does not factor in the impact of likely interest rate rises later this year.
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Mortgage delinquencies won't rise: RP Data

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Australian property group Stockland is reported to be interested in buying Victoria’s Point Cook Town Centre mall, according to the Australian Financial Review. Developer Lang Walker is reported to be asking about $200 million for the 43,000-square-metre retail precinct 23 kilometres south west of Melbourne’s CBD.
Horses for courses Developer MAB Corporation bought the 21.8-hectare Cranbourne West Equine Hospital site and plans to turn it into a business park, according to a report in The Age. The site, which sold for an estimated $9 million, is in Melbourne’s south-eastern suburbs and is adjacent to the Western Port Highway. The Victorian Government’s planned redevelopment of the Port of Hastings, 30 kilometres from the equine hospital site, could include widening the Western Port Highway to six lanes and is expected to bring commercial and industrial development to the area.
Laneway look-in Bakers Lane, in Brisbane’s Fortitude Valley entertainment precinct, is up for a major revamp under a plan by AMC Developers to transform the laneway into a shopping and dining destination. The plan, which is before Brisbane City Council, calls for the demolition of a significant part of two popular heritage-listed bars in the area, the Bowery and Laruche, to make way for a farmer’s market, The Sydney Morning Herald has reported. AMC submitted the plans in November 2010 as part of Brisbane’s “vibrant laneways and small spaces” initiative.
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