Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year. The developer also plans to redevelop the 13,088 sqm WIN Grand megasite into a new $500 million precinct with nearly 600 apartments and has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

Joel Robinson

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

Commercial property group FiveX is doubling down on its move into the residential space.

The group, founded by Joshua and Marko Berger more than five decades ago, has followed up its plans for a 39-storey tower on North Sydney's Alfred Street with a proposed 61-storey tower in Chatswood.

The new tower at <a href="https://www.apartments.com.au/new-apartments/815-pacific-highway-chatswood-nsw-2067">815 Pacific Highway</a>, which would be one of the tallest proposed in Chatswood in recent years, will comprise 490 apartments, 76 of which will be dedicated affordable housing and managed by Evolve Housing for a minimum of 15 years.

The project will replace the long-standing Panorama Building, originally known as the BMA Tower, a 14-storey office building completed in 1972 and designed by Hungarian-born architect Hugo Stossel. At the time of its completion, the building was the tallest structure in Chatswood and became a local landmark due to its distinctive curved form and external glass lift.

<img alt="FiveX" data-entity-type="file" data-entity-uuid="956bd299-3864-47a0-8ea6-162b5524c5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.02.03%E2%80%AFPM.png?VersionId=EWx7teUr7RcYrI9mgRytwppwt5AdUDtb" />

fjcstudio is behind the designs. Its Architectural Design Report argues the ageing commercial building no longer reflects Chatswood's role as one of Sydney's key strategic centres and that the site is ideally positioned to support significantly higher residential density.

"The site is located at the heart of Chatswood, within the TOD accelerated rezoning area that supports higher density development around the new Metro station," the report states.

"The site's role within a walkable 400-metre radius catchment is where housing, employment, retail and community uses are encouraged to cluster in support of transit-oriented living."

<img alt="fjc" data-entity-type="file" data-entity-uuid="8d198f5e-cc71-4175-9357-be6ec7207473" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%201.18.27%E2%80%AFPM.png?VersionId=5WUFc3IYBPvhQMBUYLCsjJhzdcVeYodE" />

The proposal has undergone two rounds of review by the NSW State Design Review Panel, with the design evolving through an extensive assessment process focused on design excellence, public realm outcomes, residential amenity and the integration of affordable housing.

fjcstudio says the residential component provides a diverse mix of apartment typologies, supporting a broad demographic and contributing to housing supply in a highly accessible location close to major transport, employment and retail infrastructure.

The application follows FiveX's plans for a 39-storey tower at <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">275 Alfred Street</a>, which it <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">submitted through the same NSW Government pathway</a> in December. That's for 184 apartments.

Recent activity in Chatswood includes Hyecorp launching its Archer Street project, Celine, and Develotek securing approval for a 34-storey tower.

First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

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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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GUEST OBSERVATION
As lockdowns are relaxed around the world and people return to their workplaces, the next challenge will be adapting open office spaces to the new normal of strict personal hygiene and physical distancing.
While the merits and disadvantages of open plan and flexible workspaces have long been debated, the risk they posed of allowing dangerous, highly contagious viruses to spread was rarely (if ever) considered.
But co-working spaces are characterised by shared areas and amenities with surfaces that need constant cleaning. Droplets from a single sneeze can travel <a href="https://www.propertyobserver.com.au/https://jamanetwork.com/journals/jama/fullarticle/2763852">over 7 metres</a>, and surfaces within pods or booths, designed for privacy, could remain <a href="https://bmcinfectdis.biomedcentral.com/articles/10.1186/1471-2334-6-130">hazardous for days</a>.
Even in countries such as <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-27/has-new-zealand-done-better-than-australia-on-coronavirus/12182254">Australia and New Zealand</a> where efforts to “flatten the curve” <a href="https://www.theatlantic.com/politics/archive/2020/04/jacinda-ardern-new-zealand-leadership-coronavirus/610237/">have been successful</a> and which have relatively easily controlled borders, it’s fair to ask whether communal workspaces might be a thing of the past.
Perhaps – if vigilant measures are in place – some countries can continue to embrace collaborative, flexible, activity-based workplace designs and the cost savings they represent. But this is <a href="https://www.vox.com/recode/2020/4/14/21211789/coronavirus-office-space-work-from-home-design-architecture-real-estate?subId3=xid%253Afr1586892270547ich">unlikely to be the case in general</a> in the coming years. Even if some organisations can operate with minimal risk there will be an expectation they provide virus-free workplaces should there be future outbreaks.
Working from home
Worldwide, there will undoubtedly be fewer people in the office – now workers have tried working from home, they may find they like it. And organisations may have little choice but to limit the numbers of workers on-site. Staggered shifts, enforced flexitime, and 24/7 operations may become the norm, along with working remotely.
The open plan model has been criticised for everything from lowered productivity, <a href="https://royalsocietypublishing.org/doi/full/10.1098/rstb.2017.0239">less interpersonal interaction</a>, <a href="https://www.sciencedirect.com/science/article/abs/pii/S0003687016302514?via%3Dihub">antisocial behaviour</a>, <a href="http://irep.ntu.ac.uk/id/eprint/34543/1/12020_1101a_Tyler-Merrick.pdf">reduced well-being</a>, too much <a href="https://www.sciencedirect.com/science/article/pii/S0272494413000340">distraction</a>, a <a href="https://www.sciencedirect.com/science/article/abs/pii/S0272494413000340">lack of privacy</a>, and making workers <a href="https://www.sciencedirect.com/science/article/pii/S0003687018303466?dgcid=rss_sd_all">feel exposed and monitored</a>.
But it has also been shown to <a href="https://theconversation.com/open-plan-offices-can-actually-work-under-certain-conditions-89452">improve cooperation and communication</a>. Whether these innovative spaces are within a large organisation or are communal workspaces where start-ups, freelancers, and contractors can sit together (such as <a href="https://gridakl.com/">GridAKL</a> in Auckland or <a href="https://thecommons.com.au/location/sydney/">The Commons</a> in Sydney), their popularity is undeniable. The sense of community and the ability to share knowledge and ideas are key attractions of co-working.
 
Riding the shared/flexi-space wave have been companies such as WeWork – popularising communal tables within co-working hubs and providing “pods” for private conversations. But there is now little doubt WeWork will be an early casualty of COVID-19. Already in <a href="https://www.forbes.com/sites/bradthomas/2020/04/15/wework-from-home-now/#5035b4bb7093">financial trouble</a> before the pandemic, WeWork will cut more than 1,000 jobs this month.
But what about the thousands of organisations that retooled their densely populated work environments to encourage flexibility, activity-based work, and movement within and between spaces?
James Muir, CEO of sustainability start-up <a href="https://www.crunchandflourish.com/solutions">Crunch and Flourish</a> has no doubt using co-working offices in central Auckland has been a positive: “We benefited from the great community at GridAKL,” he says. “And before long we were collaborating with other start-ups on marketing and design as well as getting great advice from more experienced entrepreneurs.”
Missing social cues online
Those fortuitous conversations and information exchanges will inevitably become rarer as we avoid the risk of interpersonal contact - and they are almost impossible to mimic online. Personal interaction (even within the office) will be replaced with the already familiar virtual video meeting - or even, as TIME magazine reports, <a href="https://time.com/5801882/coronavirus-spatial-remote-work/">holograms and avatars</a>.
However, communication is more challenging when conducted remotely. We are more persuasive in person, particularly if we <a href="https://doi/10.1037/0022-3514.45.2.241">know the person</a>. Being on a video call is <a href="https://www.bbc.com/worklife/article/20200421-why-zoom-video-chats-are-so-exhausting?ocid=ww.social.link.email">more draining</a> than a face-to-face chat because workers must concentrate harder to process non-verbal cues such as tone of voice and body language. Anxiety about technology is another barrier, and some find <a href="https://doi.org/10.1016/j.displa.2012.10.009">lack of eye contact</a> in virtual meetings (mimicked by staring at the “dot” of your own camera) disquieting.
New norms of hand sanitising, cleaning equipment and wearing masks will emerge. Handshaking or friendly pecks on the cheek may soon be things of the past, as will family photos and mementos on desks, if they prove too difficult to sanitise.
Aside from behaviours, policies, and attitudes, the <a href="https://www.cnbc.com/2020/04/27/after-coronavirus-the-office-of-the-future-is-the-office-of-the-past">physical office will need to change</a>. Already, a company in the Netherlands has coined the term the “<a href="https://www.cushmanwakefield.com/en/netherlands/six-feet-office">6 feet office</a>”, aiming to redesign workspaces to help workers maintain social distancing at work.
We may even see the return of the high-walled cubicle, and the introduction of wide corridors and one-way foot traffic, already found in some <a href="https://www.wired.com/story/hospitals-quickly-reshape-treat-covid-19-patients/">hospitals</a>. Activity-based work and hot-desks (which oblige people to move throughout the day) could be replaced by assigned desk arrangements where workers sit back to back.
New builds might incorporate touch-free technology such as voice-activated lifts, doors and cabinets, touchless sinks and soap dispensers, improved air venting and UV lights to disinfect surfaces overnight.
In the meantime, will James Muir resume running Crunch and Flourish from his co-working office after the pandemic? “Yes,” he says, “once the risk of any new cases is under control.”<img src="https://counter.theconversation.com/content/137382/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/rachel-morrison-296325">Rachel Morrison</a>, Associate Professor, <a href="https://theconversation.com/institutions/auckland-university-of-technology-1137">Auckland University of Technology</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/goodbye-to-the-crowded-office-how-coronavirus-will-change-the-way-we-work-together-137382">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

No more crowded office, how coronavirus will change the way we work together

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EXPERT OBSERVATION
Following times of crisis, real estate is traditionally the first to bounce back.
COVID-19 bears striking similarities to the Spanish Flu pandemic of 1919, when despite the media creating fear and hysteria through alarmist headlines, capital city housing prices didn’t fall at all. They boomed in 1919 and then continued to rise by more than ten per cent each year until 1921.
After the national recession (1990-91) and after the GFC (2008-09), it was the real estate market that most quickly saw a return to pre-crisis activity and values.
Why? Because everyone needs a roof over their head  - be that as an owner occupier or a tenant, a business owner or employee, an educator or student, a surgeon or a patient. Be that as a grower or manufacturer, wholesaler or retailer.
I see no indication that this crisis, this pandemic, will be any different. And look what the federal government has done in light of COVID-19? It has stepped in to look after the real estate market as an asset class. I haven’t seen any similar level of intervention in other asset classes, including the share market.
I look at the stages we have already gone through since the first suggestion of COVID-19 affecting the real estate industry some six or seven weeks ago, and what is still to come.
For some perspective, the coronavirus pandemic was confirmed to have reached Australia on January 25, 2020. The first death in this country was recorded om March 1st. On 24th March, realestate.com.au reported that ‘Every day is changing in the wake of coronavirus and it is becoming clear that the property market will not be immune.’ On 12th April, it reported ‘The coronavirus pandemic is having a catastrophic effect on Australia’s economy. While it’s still too soon to tell what damage has extended to the property market, it will unlikely come out unscathed.’
Stage 1 - Outbreak. Taking away of freedom.
Our federal and state governments introduce necessary rules and guidelines to restrict the spread of COVID-19.
Stage 2 - Acceptance
We are adapting to the new way of doing things. Businesses are adapting and pivoting, but initial acceptance turns to ‘get me out of here’ as the novelty wears off. (Staff gravitate back to the office environment, for example). Real estate transactions still occur as people still want and need to buy, sell and rent. Rules around inspections change. Auction go virtual. The real estate industry responds and the better the leadership, the more continuity is ensured and the more fluidly this this carries us through the peak crisis period. We are now starting to see a light at the end of the tunnel.
Stage 3 - Return to ‘normal’. Almost there.
This is ahead of us. It is a re-entry into life as we knew it. It will be complex to navigate, and business leaders and employees alike have critical roles to play in restructuring and moving forward. Courage, confidence, compassion and above all, great leadership, are required.
Stage 4 - The ‘new’ normal
There is a need to re-imagine the old, to bed down new or adapted strategies, and thrive. Businesses won’t go back to what they knew before the pandemic. They will reinvent themselves to be more resilient.
The real estate industry has got this.
We are at the cusp of the positive phase but stage 3 will not be a ‘bang, bang, bang’ like stage 1. This will be more gradual – over three to six months rather than a matter of weeks.
In the medical landscape, the focus is on the flattening of the curve. In the real estate landscape, we look to the upward curve of positive indicators.
This COVID-19 pandemic is going to give us a ‘new normal’ but those trends will shape the way we live and work.
Nothing will change the need for a roof over our heads.
Share market losses and recessions are not necessarily predictors of property declines. Confidence will drive economic recovery, and real estate activity will be significant as ‘flight to safety’ sees property offering better options in comparison to other asset classes given the low interest rate environment and the fiscal policies put in place by governments in response to COVID-19. (Relief packages, stimulation packages, funding and support)
One of the most googled questions right now is: How will coronavirus affect house prices?
Some markets may experience this more than others, with a decrease in values – but not at alarmist levels. I do not believe we’ll see significant drops or forced sales across the board.
Right now, around one-third of the world’s population is living under some sort of lockdown. Only public health indicators will bring an ‘end’ to the pandemic.
Three factors determine the severity of economic downturn: the degree of isolation and social distancing expected; how long these things go on for; and monetary and fiscal policies.
Australia is in a good space. As is New Zealand.
While no sector of the economy is being spared from COVID-19 impact, real estate is Australia’s biggest industry and its greatest contributor to employment. It represents more than 13 per cent of GDP, which is why those leaders who must manage and plan the economic and policy response to this pandemic will keep their focus firmly on real estate.
Housing is Australia's single largest asset class. Residential property outperformed all other investment types, including shares, over the past 20 years.
Real estate makes the economy stable, has tangible value, provides jobs and is an income generating asset. Real estate exists to provide shelter. Real estate will be a major pillar of recovery.
And when we come out the other end, our leaders – across government, real estate and other sectors, will be even better prepared for any crisis of the future.
MICHAEL DAVOREN is the Managing Director at RE/MAX Australia
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All roads lead to real estate: RE/MAX's Michael Davoren

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When <a href="/guides">purchasing apartments</a> or seeking to refinance lenders have restrictions and tighter lending criteria regarding size.

Any <a href="/guides/top-7-tips-on-how-to-value-a-house">valuation</a> undertaken for <a href="/guides/how-to-secure-a-mortgage-free-lifestyle-sooner">mortgage</a> is required to include commentary and risk if the unit has a living area of less than 50 square metres. This is not a valuers opinion as to whether it is a risk, it is an instruction from lenders that the valuer must identify risk in this circumstance.

The method of measurement used is to be in accordance with The API Standard which is a Founding Member of the International Property Measurement Standards Coalition (IPMSC).

The difficulty is in executing this standard.

Developers and agents often advise purchasers of the living area being 50 sq m or more. If it is less than 50 this often results in <a href="/expert-insights/buying/why-we-shouldnt-have-a-minimum-size-for-melbourne-apartments">harder lending requirements</a>.

In arriving at the <a href="/news/is-australia-ready-for-smaller-footprint-apartment-living">size of an apartment</a> the valuer is required to measure in accordance with a standard however this requires measurements to midpoint of walls and exterior faces of walls – as the valuer cannot determine the width of walls it must be estimated.

The problem can be best demonstrated from the below surveyors plans which show both the internal living areas and the measurements in accordance with the standard. In accordance with the standard the area is 50 square metres; as noted on the plan; however the area of the internal measurement is only 44 square metres.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/how_to_properly.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="559" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/how_to_properly.png?itok=fqn7JCoT" width="580"></a></figure>In this case, the valuer measured the living area accurately at 44 sq m however added only 5% to allow for the depth of walls resulting in a living area of 46 square metres; and included the required risk and as a result, the purchaser's finance was declined.

Prospective purchasers/brokers/developers should be aware of the ramifications of living areas on value and commentary.
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Melvie

How to properly measure apartment sizes according to a valuation expert

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<h2>OPINION:</h2>

What a rollercoaster this has been for us all. The last two months have rocked the world on many levels and we are still navigating our way out of both the health crisis and the subsequent financial crisis. There is a lot of uncertainty and many are fearful of what the future holds. Businesses are <a href="https://www.health.gov.au/resources/publications/coronavirus-covid-19-temporary-closure-poster-for-businesses">shutting down</a> and many of those will not reopen, unemployment rates have doubled almost overnight, and some are predicting unemployment to reach levels anywhere from 15-20%, depending on who you listen to. 

So that raises a valid point - who should you listen to? And even in ‘normal’ times, who is best placed to assist you on your property journey and how do we get through this without too many battle scars? Is all this just doom and gloom or is there a silver lining on the horizon that we just can’t see yet? 

The effects on individuals and businesses alike have been devastating. Companies, such as Virgin Australia, entering <a href="https://thenewdaily.com.au/finance/finance-news/2020/04/22/virgin-australia-voluntary-administration-coronavirus/">voluntary administration</a> in the space of just a handful of weeks would have been unthinkable back in January. But is this a ‘shake-up’ of society that we needed in one way or another? Has this had an effect on the way we look at our work lives and our personal lives?

Over the last few weeks, I have had dozens of meetings with new and existing people about exactly these points. It’s interesting to listen to investors’ fears and concerns at the moment; some are worried about their incomes, some about the market crashing and some are deeply concerned about their ability to retire in the next few years. 

The general consensus I've found is that overall there is an underlying level of optimism which is encouraging to see and hear.  However, for the next little while, the overwhelming uncertainty surrounding both the health risks and the financial risks are going to weigh on people’s minds just as much as on our healthcare resources and the economy. 

Australian residential property, in general, has performed well over the last decade or so following on from the global financial crisis, and we have achieved significant growth in most capital city markets. Changes to APRA requirements have allowed banks to take a slightly more relaxed approach to lending, and of course, interest rates have dropped to drastically <a href="https://www.rba.gov.au/statistics/cash-rate/">record lows</a>.

For me, I see a perfect storm of opportunity right now, enabling savvy investors to take advantage of low-interest rates and market uncertainty. With many buyers and sellers sitting on the sidelines this is a great time to be <a href="/guides">buying property</a> and building your asset base. 

We have experienced this before. In 2000 we had the tech bubble, in 2001 we had the September 11 attacks in the USA, and since then we have had to deal with SARS, MERS, the Global Financial Crisis, Ebola and now COVID-19. History has shown that Australian property prices have been temporarily and only mildly affected before making a solid comeback in the following years. Each time these end game scenarios occurred, commentators were out in force saying ‘this time it's different’. Maybe at the time, it was difficult to see how we would make it through to the other side, and just maybe, the same thing is playing out again in front of our eyes all over again. 

Long-term property investors understand that market conditions are always going to change and that external factors are simply a part of investing. Investing for the long term is almost guaranteed to involve periods of uncertainty and being outside of your comfort zone, but of course, this goes back to the old saying ‘if it were easy everyone would be doing it’. Now is as good a time as any to refocus on your long term goals and what you really want out of life. 

I saw a post on social media recently that summarises our current scenario succinctly:

<blockquote>
“Traffic has gone, fuel is affordable, bills extended, kids are at home with their families, parents are at home taking care of their children, fast food has been replaced with home cooked meals, hectic schedules replaced by naps, rest and relaxation. The air seems cleaner. The world, quieter. People are conscious about health and hygiene. Money doesn’t make the world go around anymore. Doctors and nurses are being praised instead of athletes and celebrities. And collectively, we now have time to finally stop and breathe”. 
</blockquote>

Our long-term goals do not change because of these external factors; nor should they. 

This short-term health crisis has most certainly had a massive impact on the economy and, while governments at both state and federal levels have responded swiftly, there is likely going to be a debt hangover for some time to come. 

Regardless of these external factors, I encourage you to look to the future and navigate your way through these difficult times. Find your own pathway forward. Team up with experts who have the experience to guide you and don’t be afraid to ask for help. Use this time to think about what is truly important in life and link that to the opportunities that will present themselves in the months and years ahead. Sitting on the sidelines and waiting for the perfect time to buy certainly won’t move you any closer to achieving your goals. 

Our financial markets and property markets will recover, and things will return to normal – even though we are likely facing a ‘new’ normal that neither you nor I have any direct control over. Stay positive and don’t let the noise get in the way – it could cost you your financial future.
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COVID-19 and the pathway forward for property

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<h2>OPINION:</h2>

There are inherent risks involved in buying any property, however, in recent years the <a href="/guides">off-the-plan market</a> has received a lot of the scrutiny, with variables such as construction quality, settlement value and affordability keeping purchasers up at night.

The reality of today’s market is that off the plan purchasers have never been more in control of their buying experience or ultimately their finished product at settlement. Today the power is with the purchaser to mitigate these risks by electing to work collaboratively with a developer and getting involved in the development process.

Never before have the expectations on developers been so extreme. Purchasers expect world-class design and a financially <a href="/guides">sound and transparent developer</a>. They expect a trusted builder to construct their home with care and diligence.

Below are five key risk-management strategies for potential purchasers or developers in the current marketplace.

<h2>1. Problem: Potential building defects</h2>

We only have to look at recent news reports on newly completed projects deteriorating rapidly, to understand the legal, emotional and financial hardship that an ill-constructed building results in.

Not knowing how to repair your <a href="/new-apartments">new home</a>, how long it will take and who pays for it are certainly not the kinds of decisions you should be navigating after settling your brand new apartment.

No other industry operates with the same nonchalance that some developers, unfortunately, get away with. It is unfathomable to think that a car dealership would suggest they have 12 months to fix faults and issues associated with your brand new car. This shouldn’t be the case for a brand new apartment either.

Minor defects or issues should always be covered under good warranty, repaired quickly, and the materials and finishes should remain perfect for many years to come.

<h2>Potential problem solution:</h2>

Ensure you have trust in the developer. Meeting directly with the developer can be a way to feel comfortable and gain trust in not only the company, but the team behind the brand who are responsible for creating your future home or investment property.

Ask whether the builder has been appointed, and understand what similar projects they have delivered in the past. A builder with a strong track record stands for a lot. Having a builder appointed means the developer knows exactly how much the construction is going to cost. This allows the developer to deliver what is being sold and significantly reduces any risk of value management (code for cutting corners) and reduction of the building specification.

Get professional advice. Speak with people in construction, real estate agents, developers, valuers – seek their professional thoughts on the marketing material, specification, builder, developer and status of the development project. If the advice is based on knowledge versus just personal opinion and it all lines up, it certainly assists in reducing the risks of the unknown.

<h2>2. Problem: Delay</h2>

Development of any product in any business can be delayed due to many reasons, and there can be consequences to those delays.

If you’re an owner-occupier expecting to be moving into your new apartment on a certain date and the project becomes heavily delayed, you may be caught out having to pay additional rent in your current premises, or be forced to find accommodation alternatives at short notice.

As an investor you do not have to face the issue of not having somewhere to live, however it might impact your tax situation, depreciation, financial approval, arranged tenants and even your personal plans should you need to be physically available for settlement.

<h2>Potential problem solutions:</h2>

Take the time to fully understand not just when construction is scheduled for commencement, but the details of the construction program. Construction on a typical residential project will likely take between 12 – 24 months, depending on the size of the development project you’re purchasing into. This is plenty of time to coordinate everything, even enough time to sell your home if you’re <a href="/news/is-australia-ready-for-smaller-footprint-apartment-living">downsizing</a> and moving into your new apartment.

If the developer doesn’t give you regular construction progress updates, then ensure you are proactive and seek program status information regularly. The developer should immediately highlight any delays incurred. You can also request the monthly builder’s report and/or the quantity surveyor’s monthly assessment of the construction status and program.

Ask your lawyer to review the sunset clause and advise you on your best course of action to protect yourself from the impacts of long-term delays. The sunset clause stipulates the amount of time the developer has to deliver the dwelling following the signing the contract of sale.

<h2>3. Problem: Changing market conditions</h2>

Being able to forecast fluctuations in the property market is extremely complex, and whilst it may appear that <a href="/guides">buying off the plan</a> is even more involved than buying an established property, it does not have to be.

There’s no denying that some experts are touting a property bubble, and others are suggesting that you need to buy in quickly before prices get further away from us. It can be challenging to navigate the varying recommendations but premium properties in blue-chip suburbs may be susceptible to different swings from the rest of the market.

Because of this, trying to pick the bottom and top of the market is futile. Demand for property in Australia’s most sought after areas will always be consistent, so seeing long term strong capital growth is a matter of patience. Buying off-the-plan in one market, and selling your existing property in another, can never be perfectly timed. We need only look to history to see that the property market is cyclical but has consistently demonstrated long term upside irrespective of seasonal fluctuations or economic swings. Hold on for long enough and the returns from property can be hugely rewarding.

<h2>Potential problem solutions:</h2>

The primary reason why you are buying the property makes a large difference to how you should assess the market and your individual purchase criteria.

As an owner-occupier, purchasing your next home is a much more emotional decision and generally, the return in the short term is not so important to some. The average Australian owns their home for 11.1 years According to Corelogic data, and Greater Melbourne’s annual capital growth over the last 10 year period is 4.9% of just shy of a 50% increase in total.

If you look more closely, inner-city suburbs outperform, enjoying higher than the average percentage increase. <a href="/new-apartments/south-yarra-vic-3141">South Yarra</a>, for example, was assessed as the most liveable Victorian suburb in 2019, while Melbourne was voted most liveable city in the world in 2018 and second in 2019. South Yarra’s nominal change (percentage) since 2010 has been an increase of 104%.

If this is a “stepping stone” home – one that is an interim step towards your dream property - then this decision requires more careful consideration through an investor lens in order to ensure it will further you toward the goal of that next property.

Property investors need to consider market conditions and statistics such as vacancies, supply levels, population growth, valuations and rental yields. The critical figures to keep an eye on is a vacancy level of above or below 3% - under 3% indicates it’s a vendor’s market, with rents going up and therefore yields increasing too. Over 3% vacancies indicates you might be offering a few weeks rent free or dropping the rent. Purchasers need to do their research.

There is a formula for assessing the <a href="/expert-insights/buying/4-reasons-to-have-faith-in-australia-s-property-market-for-the-long-run">Australian property market</a>. However, ensuring you are buying (or developing) a first class product, in an outstanding location, that will stand the test of time will certainly assist when it comes to ensuring capital growth and an attractive resale value in the future.

<h2>4. Problem: Product not as advertised</h2>

Legally there is a 5% or less variance provision for purchasing off the plan. This allows builders to have a very small amount of construction flexibility. For example, if a wall is 10mm thicker than on the plan it could have an impact of 1sqm on the total apartment area. A very minor change which can happen but not enough to detrimentally impact your apartment’s liveability.

If items are drastically different and you do not support the changes, or were unaware they were happening, then you may have grounds for concern. This is, however, very unlikely.

<h2>Potential problem solutions:</h2>

Make sure that the building specifications are listed within the contract of sale. We ensure they are specific and that materials are listed clearly and precisely. This will ensure items cannot be substituted into your apartment that are of a lesser quality than what was specified.

Investigate the consultant teams including structural, services, geotechnical, acoustic, lighting, traffic and waste engineers. The team of consultants determine the quality of the project alongside a good builder.

This team of consultants can impact the notion of quality which can take on different meanings depending on the team in place to deliver that quality benchmark. For example, quality materials can be purchased and included within a project, however a quality design team ensures the materials are installed, utilised and will continually perform at their best.

It’s important to be clear about what is base build and what constitutes upgrades. Understand what you need to pay extra for. This is the buyer’s responsibility and it is very important to manage this so that expectations are clear and there are no surprises when you settle and move in.

<h2>5. Problem: Valuation risk upon settlement</h2>

The price the developer sells you an apartment for isn’t necessarily its market value. The price you pay for your apartment could be well above (or potentially below) the value that the market determines. When it comes time to settle, the valuation of your apartment could be less (or more) than the purchase price. This is potentially an issue because in this case, your financier is likely only going to lend you a percentage of the valuation (versus the purchase price) and if the valuation is lower than your contracted price, you (the purchaser) will need to contribute more of your own cash or savings (equity) to settle the purchase of your property.

<h2>Potential problem solutions:</h2>

Research the surrounding area before you buy and do not just compare the apartment you are considering to other off the plan sales. It is important to review your purchase against a mix of established products. This is because valuations are assessed against resold stock only, and valuers do not take into account any other off the plan sales. Basically, the property has to have re-transacted once completed to be included in any valuation assessment.

Also, assess the value of any car parking included with the apartment you are considering buying. Car Parking spaces are often sold over and above the apartment price for significantly more than the valuer will give them.

<h2>Conclusion</h2>

Taking into account these considerations, it’s understandable that some purchasers can be wary about purchasing off the plan, as too are developers about the potential risks to their reputation. However, there are avenues to ensure the risks are mitigated and you have greater confidence in the final outcome.

An additional obvious measure is stamp duty concessions available to buyers of off the plan property development projects, making off the plan property an attractive investment strategy when used prudently.

In Australia our immigration and population growth will always mean that demand for housing is strong – people are always going to need somewhere to live. As such, apartments will need to continue to be built to ensure that housing supply meets demand. The proximity of inner suburban development to CBD-based work opportunities will deliver steady growth in demand for quality, medium-density apartment living. Financial restrictions on the capital available to property developers mean that apartments must be sold off the plan to buyers willing to embark on a property development journey with the partnership of a quality property developer who can professionally manage the project on their behalf.

Buying a high-end property might be the biggest financial decision you will make. It’s natural to want to be able to see it, feel it, imagine your family at the dining table, and dream about coming home after a day’s work. This visualisation can be easier with established stock. But it’s harder to get exactly what you envisage without having some input into the development. You can regain some of this control, and mitigate many of the aforementioned risks.
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Is buying off the plan keeping you up at night?

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<a href="/guides/covid-19-how-to-adapt-to-working-from-home">Working from home</a> and spending extended periods of time indoors is putting the energy efficiency of our housing into sharp focus.

The more time we spend indoors the more we are becoming aware of the thermal and acoustic performance of our housing. Are you needing to run heating and cooling throughout the day in order to be comfortable? Do you have enough access to natural light and cross ventilation? Are you able to access local amenities and green spaces on foot? Do you have an outlook to the sky and greenery or are you staring at a concrete wall?

Spending more time at home in self-isolation provides the opportunity to completely rethink the role that housing plays in our cities. The dramatic shift we have all seen in our day to day lives provides pause to re-evaluate our connections to our neighbours, access to local amenities and green spaces. 

Our homes are currently supporting more activities than they were necessarily designed for. They are now offices, classrooms and gyms, as well as lodgings and entertainment spaces. Depending on the energy efficiency of your home, this 24/7 occupation will have an alarming effect on our energy bills.  <a href="/news/5-new-sustainable-apartment-developments-in-australia-2019">Carbon-neutral housing</a> is climate resilient in its self-sufficiency. These homes rely less on the grid to keep the lights on, keeping energy bills for residents low and they don’t rely on fossil fuels to create a comfortable living environment all year around.

Getting to carbon-neutral requires a number of considerations when building and designing a home:

Embodied Carbon

<ul>
<li>Use locally sourced, natural materials. Generally, locally sourced and processed materials have lower embodied carbon, requiring less offsets to be carbon neutral. </li>
</ul>
Operational Carbon

<ul>
<li>Remove gas from a home to be 100% electric;</li>
	<li>Apply passive design principles including orientation, solar penetration and natural ventilation;</li>
	<li>Ensure the home is thoroughly insulated; and </li>
	<li>Integrate systems including on-site solar energy capture and battery storage.</li>
</ul>
Strong passive design principles reduce the energy required to cool homes in summer and heat in winter. The reduced energy required to operate a home can then be sourced on site with rooftop solar generation and battery storage. The minimised shortfall of required energy between what is generated by the on-site solar panels and a homes’ needs can be met by purchasing renewable energy from the grid. 

Now is our opportunity to support carbon-neutral dwellings, particularly multi-residential housing that is connected to established local amenities, green spaces and public transport infrastructure. Carbon-neutral multi-residential housing reduces the impact of the built form on the environment, whilst meeting the broader policy objectives of responsibly densifying our inner and middle ring suburbs. 

Multi-residential developments that are site responsive and champion durable and sustainable design principles can be environmentally sustainable and also responsibly increase density in our inner and middle ring suburbs. Responsible density is critical to easing the demands of our growing population and preventing further urban sprawl, which encroaches on our precious natural environment and is less resilient to events such as bush fire. 

Carbon-neutral housing needs to be the minimum standard for new housing supply in order to best prepare Australia for an economically prosperous and environmentally sustainable future and to assist in meeting Australia’s commitments to limit global warming to 1.5 degrees.

Mandating that all new housing, particularly multi-residential housing, to be carbon-neutral (both embodied and operational carbon) will result in highly efficient, fossil fuel-free homes that accommodate a diverse range of residents within pedestrian friendly, highly connected locations that are constructed with durable materials, which have a minimal impact on the natural environment. State governments have flagged that <a href="https://www.rsm.global/australia/insights/industry-insights/economic-impact-covid-19-property-and-construction-sector">housing and construction</a> will be a leading feature of COVID-19 economic survival and recovery. 

Now is the time to ensure minimum energy efficiency standards are raised in anticipation of a surge in building activity. There has never been a more crucial time to aspire to heightened standards for designing and delivering climate resilient housing.
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Working from Home Highlights the Benefits of Carbon-Neutral Housing

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We’re going to benefit from the shutdown imposed by the virus, in infinite ways. It may not feel like it at the moment, and I don’t disregard the pain many are going through, but Australia will look back at this crisis as a time that changed the nation for the better.
The discussion now is about how and when we return to normal. But the new normal will be different to the old. It has to be.
One of the big lessons is that we cannot continue to have so many important things made in one country – or anywhere offshore. There are things we need to make in Australia. Manufacturing is poised for a revival, with benefits in employment. This will be part of a strong economic recovery.
The corporate twits who thought it made sense to locate customer call centres offshore because it saved a few bucks are now reconsidering their strategies. They need to bring customer service back home and in the process they will have fewer angry and frustrated customers. And create jobs in Australia.
The situation has forced us to innovate and to work harder at helping our customers. Real estate has found ways to function without live auctions and open houses. We’re seeing examples of online auctions achieving sales well over the reserve price. One-on-one inspections of properties have taken us back to old service standards and getting to know buyers one-on-one. Everyone benefits.
Many of us have realised how much we value the simple things we took for granted, like meeting friends for a cuppa or taking the family to the beach. When the restrictions are lifted, Australians will party like they never have since the end of World War Two – not extravagantly but by going to cafes, pubs, theatres, parks and beaches. A recent survey indicates people plan to take holidays in Australia. Many of the lost jobs will come back (not all, unfortunately).
Some people have learned, by accident, how to save. The restrictions have stopped us going out and spending. The improvement to the bank balance has been an eye-opener. Now some of us know how to get on top of the mortgage and young adults have been shown a way to save a deposit for a first home. First-home buyers with secure jobs will be busy in the second half of the year.
The resources sector has remained steady in the shutdown period. Queensland locations with links to the mining industry have experienced an uplift in rental demand amid the virus crisis, with rents actually rising. China, our biggest trading partner, is projected by the IMF to experience moderate economic growth this year and a boom next year. I’m expecting a resources boom in Australia as China and other nations get ambitious about economic recovery. Real estate markets influenced by resources links may surge – but investors should proceed with caution, because these are fickle and volatile markets.
A more engaging trend with impacts on real estate is the one I wrote about last week. We can expect an increase in people moving from the big cities and buying in lifestyle areas within an hour or two of the city. This movement has been enhanced by technology which allows people to work remotely – and will be exacerbated by the shutdown, which has forced people to work from home.
Some will make it a permanent arrangement. Expect uplift in markets like the Central Coast and the Southern Highlands in NSW; Ballarat, Bendigo, the Latrobe Valley and elsewhere in Victoria; and the Sunshine Coast in Queensland.
As an aside, the virus has done all of us a favour by delivering a major come-uppance to the ugly bastards who run global oil businesses and regularly hold the world to ransom with their cynical manipulation of supply and prices. We’ve all saved money by needing to fill up our cars less often and paying less when we do. Will it change our habits post-shutdown? Hopefully, but probably not.
The virus has generally done the environment a big favour. The before-and-after shots of some of world’s big cities are a revelation, including some in Australia. There’s been a big reduction in emissions. The greatest benefit of the shutdown would be achieved if we learnt something from that. Will we? I fear we will easily slip back into old habits.
But, amid everything, we’ve learnt who the real heroes are and how much we underpay them. We’ve discovered that we can do without over-rated footie players and self-absorbed corporate executives, but not without under-resourced and under-appreciated nurses. Boris Johnson has learnt that more than most.
And we’ve seen a cultural shift in politics and business. There’s been a refreshing absence of adversarial politics. The country apparently can function without people shouting at one another in Parliament. Let’s make that a permanent change.
Business in many ways has sought to be part of the solution, even including the major banks. The only sectors which haven’t entered into the spirit of pulling together have been insurance and some sections of news media.
Who knows – maybe going out of your way to help people is actually good for business.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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The future benefits of the coronavirus crisis: HotSpotting's Terry Ryder

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Limited signs of distress in commercial property so far: REA's Nerida Conisbee

Rental listings rising as COVID-19 continues: REA Group

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GUEST OBSERVATION
The COVID-19 pandemic has shown us our health is intimately connected to the health of the person next to us, and that everyone needs shelter. It has created unprecedented urgency about moving people who are homeless into emergency accommodation – for their health and ours. So what happens next?
Getting people into hotel and motel rooms and off the streets is a good thing, but these are stopgap measures. They don’t provide a home.
The rush to shelter people before the peak of the virus has been driven by a pressing need to protect us all. As the only seven-day-a-week mobile outreach service still operating in Victoria, <a href="https://www.launchhousing.org.au/">Launch Housing</a> has temporarily housed 800 people, half of whom were sleeping rough. So what will happen to them and the thousands of other Australians in emergency accommodation when social-distancing restrictions ease and our world returns to something resembling normal?
Will they exit back into street homelessness to become the face of fear and stigma, while the rest of the community returns to more social activities?
A way to find homes right now
Australia has a significant but solvable homelessness problem, so let’s start solving it right now.
<a href="https://images.theconversation.com/files/330009/original/file-20200423-47804-1m369kz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/330009/original/file-20200423-47804-1m369kz.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
 Image: AAP, Author provided
To avoid people being deposited back onto the streets, we’re asking state and territory governments to fund a rapid spot-purchasing program. The Victorian government has done it before on a smaller scale in 2016, and it worked. It’s time to do it again, but on a bigger scale and around the country.
The spot-purchasing program would fund community housing agencies to enter the property market to buy up “distressed” or cheap housing assets. These properties would be let at below market rent to people who pay 30% of their income as a social rent.
Vendors and developers would get <a href="https://www.domain.com.au/news/price-cuts-on-the-rise-as-vendors-rush-to-sell-in-coronavirus-pandemic-950402/?utm_campaign=strap-masthead&amp;utm_source=the-age&amp;utm_medium=link&amp;utm_content=pos5&amp;ref=pos1">much-needed sales</a> and thousands of people would get a home. Taxpayers would get an enduring social benefit for years to come, as expensive nightly motel bills – without any long-term benefit – get converted to community-owned property assets.
We estimate the program would cost about A$210 million in Victoria and a similar amount in other states. It <a href="https://theconversation.com/supportive-housing-is-cheaper-than-chronic-homelessness-67539">costs more to treat street homelessness than it does to fix it</a>. So, it makes economic and social sense to put the fix in now.
This is our mirror moment. We simply can’t afford to drop people when no one is looking and attention turns elsewhere.
People in emergency accommodation can’t wait years for new housing to be built. They (and we) need those homes now while longer-term solutions are developed.
Meeting rising needs in the longer term
Many people who are not homeless have lost jobs or had their work hours cut, and are facing their first-ever brush with housing insecurity. They are struggling, paying more than 30% of their income for housing.
There was a housing crisis before this latest upheaval, and these conditions haven’t changed. Rents were too high and there <a href="https://theconversation.com/australias-housing-system-needs-a-big-shake-up-heres-how-we-can-crack-this-130291">weren’t enough affordable homes</a>.
The health and economic fallout from COVID-19 has exposed the urgent need for more homes that are cheaper to rent for people on moderate, low or no incomes.
Crucially, we are also calling for the Australian government to fast-track the building of more social and affordable housing as part of an economic stimulus package.
A national social housing stimulus package will help get people back to work, speed the recovery, give the building industry the confidence to retain more workers and put roofs over people’s heads.
Initiatives to fund the construction of new social housing could be rolled out quickly. The industry capacity is there to do it, in partnership with the community housing sector.
The early stages of the stimulus would bring forward maintenance and new construction projects that are already on the drawing board.
By targeting locations with transport and facilities but <a href="https://theconversation.com/coronavirus-puts-casual-workers-at-risk-of-homelessness-unless-they-get-more-support-133782">high levels of rental stress</a>, new social housing buildings can be built quickly and integrated well into local communities.
The stimulus should be designed to encourage new mixed housing models, including properties that are “<a href="https://theconversation.com/build-to-rent-could-shake-up-real-estate-but-wont-take-off-without-major-tax-changes-119603">built to rent</a>”.
It would increase the supply of social housing for households that are homeless, or at risk of becoming so, and would stimulate the building, maintenance and construction industry.
A building-led recovery
The program would build on the <a href="http://www.nwhn.net.au/admin/file/content101/c6/social_housing_initiative_review.pdf">Social Housing Initiative</a> that was launched in response to the 2008 Global Financial Crisis. Some 20,000 new social housing units were built throughout Australia.
This time, we think it is possible to deliver 30,000 new units. Community housing organisations could raise extra private finance to build another 5,000 homes.
We’ll need this <a href="https://theconversation.com/is-social-housing-essential-infrastructure-how-we-think-about-it-does-matter-110777">social infrastructure</a> more than ever after the pandemic. <a href="https://theconversation.com/growing-numbers-of-renters-are-trapped-for-years-in-homes-they-cant-afford-125216">Rental stress</a> and <a href="https://theconversation.com/6-steps-towards-remaking-the-homelessness-system-so-it-works-for-young-people-136385">homelessness</a> are increasing and the <a href="https://www.anglicare.asn.au/research-advocacy/the-rental-affordability-snapshot">lack of low-price rental housing</a> are issues we can no longer ignore.
The pandemic has created some very real challenges, but it also creates some unique opportunities to accelerate progress on ending homelessness, to recognise our interconnectedness and to give people the best possible protection of all – a home.
<hr>
This article was co-authored by Bevan Warner, CEO of Launch Housing.<img src="https://counter.theconversation.com/content/137069/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/ron-wakefield-1044738">Ron Wakefield</a>, Professor of Construction, Deputy Pro-Vice Chancellor, International, and Dean, School of Property, Construction and Project Management, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-need-to-house-everyone-has-never-been-clearer-heres-a-2-step-strategy-to-get-it-done-137069">original article</a>.
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