A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

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 plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also 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.

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 Australia</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 Australia'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 Australia 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 Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia 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 Australia doubles down in Campsie with 33-storey Metro-front tower plans

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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A Maitland, South Australia mortgagee home has sold for $145,000. 
The property last sold for $155,800 in 2010.
The house spent two out of the last four years on the market.
Scott Bockmann of Ray White marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-house-sa-maitland-131659830" target="_blank">11 Viewbank Crescent</a>, the abode comprises three bedrooms, one bathroom and a two car garage.
Set on a 945 square metre block, the recently painted home is described in the listing as ideal for a first home buyer or retiree.
Built in 2008, the DA for the home and additional carport construction were valued at $89,000 and $9,500 respectively.
From 2015 to 2017, the home was listed with an asking price of $190,000 reduced to $175,000.
In this most recent campaign the house sought $165,000.
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Maitland, SA mortgagee home sold at $10,000 loss 

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Investa Commercial Property Fund, one of Australia’s leading unlisted wholesale office funds, is seeking to raise new equity via a capital raising drive.
According to the fund, they plan to use the new capital to replenish their balance sheet, positioning the fund for future acquisition and development opportunities.
The fund’s existing investors will be given pre-emptive rights to purchase the new securities issued.
They predominantly include a mix of Australian institutions and superannuation funds.
“It is our expectation that existing investors will participate in the offer and any securities not taken up by existing investors will be made available to new investors, where we have strong demand,” said Jason Leong, the ICPF Fund Manager.
Leong further states that institutional investors have been waiting for this opportunity, with interest from potential investors from Asia, the UK, Europe and North America to date.
“Potential investors come from a range of areas including insurance companies, pensions and sovereign wealth funds,” he said.
ICPF’s portfolio currently comprises interest in 15 office buildings, primarily located in Sydney and Melbourne, valued at $5.6 billion.
ICPF recently reached practical completion on the premium grade 60 Martin Place Sydney, achieving record rentals with leasing commitments in excess of 90% delivering the project a 7.5% yield on cost.
It is also planning to commence construction of 360 Queen Street, Brisbane, a 55,000 square metre prime grade commercial office project in 2020.
ICPF has been active recently, selling its interest in 242 Exhibition Street, Melbourne for $830 million, along with its co-owner Oxford Investa Property Partnership (OIPP) at a 20% premium to valuation.
It also recently struck an agreement to acquire a further 50% interest in a central Sydney office building, 135 King Street, from co-owners Stockland for A$335 million and a 1,000 bay cark park adjoining its 567 Collins St Melbourne building.
 “The ICPF management team has been disciplined in its investment execution, divesting assets no longer aligned with its strategy and focussing on building a pipeline to develop new generation buildings,” said Investa’s Chief Investment Officer, Peter Menegazzo.
 “We expect that these factors will result in solid support for the capital raising, and in turn, will set a sound foundation to deliver ongoing investment performance.”
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Investa embarks on capital raising drive

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Australia’s fifth largest bank, ING, has announced that it is cutting home loan interest rates by 0.15%.
The bank’s interest rates will drop for both new and existing customers, and will be effective from October 16.
The cuts take ING’s lowest variable interest rate for new customers to 2.99%, for home loans over $1 million, and 3.03% for loans under $1 million.
A total of 26 lenders have announced rate cuts for their customers three days after the Reserve Bank cut the official cash rate to 0.75%.
The average interest rate reduction across the owner-occupier home loan market is currently 0.17% and just five lenders are passing on the full 0.25% RBA cut.
The chief executive of RateCity.com.au, Paul Marshall, said there are still dozens of lenders yet to announce what cuts they’ll make.
“With the cash rate now below one%, banks are cautiously considering what to pass onto home loan customers, while still appeasing shareholders and savers,” Marshall said.
“If your bank hasn’t declared their hand, you should call, email or even tweet them into action.”
 
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Australia’s fifth largest bank, ING, announces interest rate cuts for home loans

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GUEST OBSERVATION
There’s a <a href="https://www.sbs.com.au/news/the-feed/forget-housing-grave-space-is-the-new-millennial-headache" target="_blank">lack of new cemetery space</a> in parts of Australia but we could solve that problem by burying the dead among newly planted vegetation belts near our towns and cities.
Burial Belt is a proposal we’ve been working on for reinventing the Australian cemetery landscape by creating near-limitless land for burial. Our idea is currently on exhibition at the <a href="http://oslotriennale.no/en/aboutoat2019" target="_blank">Oslo Architecture Triennale</a>, in Norway.
This new approach to burial would feature native trees rather than rows of headstones.
It would reforest cleared land and provide an alternative to <a href="https://www.theguardian.com/environment/2018/may/31/avoiding-meat-and-dairy-is-single-biggest-way-to-reduce-your-impact-on-earth" target="_blank">high-emissions livestock grazing</a>. It could even prevent suburban sprawl by safeguarding green space in perpetuity.
All it requires is a new way of thinking about what happens to our bodies when we die.
<a href="https://images.theconversation.com/files/294690/original/file-20190930-185369-1uzbli3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/294690/original/file-20190930-185369-1uzbli3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Burial space is running out in some Australian cemeteries. <a class="source" href="https://www.flickr.com/photos/quirky/6527021105/" target="_blank">Flickr/Wendy Harman</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
After life
Traditional burial in a local cemetery was the norm for most Australians until late in the 20th century. Today an increasing proportion of Australians choose cremation.
Unlike burial, cremation seems clean, efficient and free of the emotional weight of a sombre headstone in a grid of other graves. Cremation doesn’t have to take up space and ashes can be stored in a special place or dispersed into a favourite landscape.
Cremation now accounts for <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/science/2019-04-27/green-death-funeral-environment/10994330" target="_blank">more than 70% of all Australian interments</a>. That is not surprising when you consider that the average cost of cremation is <a href="https://www.gatheredhere.com.au/burial-cremation-everything-need-know/" target="_blank">less than half that of burial</a>.
Soaring land costs and dwindling reserves of existing cemetery space have also contributed to the high cost of burial.
Australian burial plots are among <a href="https://www.domain.com.au/money-markets/the-most-expensive-land-in-australia-might-be-graves-heres-the-problem-20180627-h11wzp-441795/" target="_blank">the most valuable real estate</a> in the country.
What else goes up in smoke?
Most people we speak to are surprised to learn that cremation is an energy-intensive and toxic process.
The energy consumed by a single cremation is equal to about <a href="https://www.theguardian.com/environment/2005/oct/18/ethicalmoney.climatechange" target="_blank">one person’s average monthly domestic use</a>.
Each <a href="https://www.foreground.com.au/environment/urban-burial-cemetery-landscapes/" target="_blank">cremation</a> releases on average about 50kg of CO2 and other toxins.
When you consider both the economic and environmental costs of cremation, the obvious solution is to provide more affordable burial space.
But with scarce land available for this purpose close to our city centres, any solution is contingent on persuading large numbers of people to not only return to burial, but to reconsider the entire cemetery experience.
A more natural burial
The Burial Belt proposal relies on a societal shift from traditional burial and cremation to natural burial. <a href="https://www.theguardian.com/lifeandstyle/2018/nov/11/pushing-up-trees-is-natural-burial-the-answer-to-crowded-cemeteries" target="_blank">Natural burial</a> does away with embalming, wooden coffins, concrete shafts and expanses of tarmac.
Bodies are placed in direct contact with the soil and buried within reach of microbes, where they can then truly return to the earth.
Natural burial is also <a href="https://www.gatheredhere.com.au/green-funerals-australia/" target="_blank">much cheaper to implement than traditional burial</a>.
Where would this take place? That’s where the Burial Belt proposal comes in.
Our future burial parkland already exists, just beyond the outermost suburban lots that ring Australian cities. This border land is currently occupied by sheep and cattle pastures but is increasingly being rezoned and amalgamated into an ever-expanding urban footprint.
Converting this territory into burial parkland, rather than housing subdivision, would protect whatever wildlife and vegetation remains in this cleared and denuded landscape, while curtailing urban sprawl.
Preserved forever
The key element of this proposed transformation is that, while natural burial land quickly becomes indistinguishable from bushland, current legislation provides for preservation of cemetery spaces in perpetuity.
Incorporating burial within the forest establishes a covenant over the revegetated grazing land that cannot be reversed. No more urban sprawl.
Fields and allotments would be individually acquired by public or private entities and converted into burial forest. Adjoining sections of forest would be gradually amalgamated into a single Burial Belt, a linear green swathe that halts further development and protects agricultural land and remnant habitat on the other side.
<a href="https://images.theconversation.com/files/294474/original/file-20190926-51434-1co1tt5.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/294474/original/file-20190926-51434-1co1tt5.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
View of a burial ring at the edge of a clearing in a proposed Burial Belt. Other Architects, Author provided
From an architectural point of view, there are many ways this general idea could be implemented to suit different site conditions and communities.
In the current proposal, large clearings are carved out of the immensity of the forest, with smaller hollows containing intimately-scaled burial spaces dispersed around the edges of these clearings.
Access could be provided via boardwalks and other temporary facilities similar to those found in national parks. The proposed forest cemetery requires little upkeep. Rather than returning periodically to sweep away leaves or lay flowers on a loved one’s traditional grave, visitors are free to let nature do its work.
There is no reason why the Burial Belt idea could not be widely implemented by local operators and councils as an effective method of funding habitat regeneration while providing for the community’s long term burial needs.
This article draws on UTS Master of Architecture design studios conducted by David Neustein and Grace Mortlock, and specific research contributions from UTS students Rowan Lear and Sora Graham.<img src="https://counter.theconversation.com/content/124259/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;">
David Neustein, Associate, School of Architecture, University of Technology Sydney.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/buried-beneath-the-trees-a-plan-to-solve-our-shortage-of-cemetery-space-124259" target="_blank">original article</a>.
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A plan to solve our shortage of cemetery space: David Neustein

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A $13 million luxury development at Circular Quay has been planned, with Queensland-based company rawGROUP Hospitality aiming to break into the Sydney market.
rawGROUP Hospitality Director Adrian Rosato said the company had signed a lease for a 662 square metre site in the luxury residential and retail development, Opera Residences at Bennelong Point.
The project will replicate the business’s Madame Wu riverfront restaurant in Brisbane.
“With the fit out included, we are planning for the total investment in this project to be around $13 million,” he said. 
“Madame Wu Sydney will stretch across two levels, offering diners extraordinary views of one of the world’s most iconic settings, and will be located inside the luxury development that has been reported as having Australia’s most expensive apartments.” 
rawGROUP Hospitality also owns Chu the Phat Asian street food diner in South Brisbane, a chain of casual Beach Bar and Grill restaurants across south east Queensland, and an Italian eatery at Chermside in Brisbane’s northern suburbs.
The company opened Madame Wu Brisbane, on Eagle Street, in 2014.
Sydney-based designer Paul Papadopolous of DS17, who designed the Brisbane complex, will also be applying his flare to the Sydney site.
He described the project as ‘glamorous, contemporary and eclectic’. 
Madame Wu Sydney is expected to open before Christmas 2020.
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Queensland's Madame Wu restaurant chain coming to new development at Circular Quay

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A Port Pirie, South Australia mortgagee home has sold for $66,750.
The home sold after it was placed on the market for 400 days. 
Sean Manfield of Wardle Real Estate marketed the property.
Situated at <a href="https://www.realestate.com.au/property-house-sa-port+pirie-129080722" target="_blank">8 Swan Street</a>, the three bedroom one bathroom abode has one carport space and six garage spaces.
Set on 864 square metres, the home was built in 1954.
The house was being offered for less than it sold for in 2004 when the home transacted at $102,500.
It saw its asking price slashed to $89,000 from $145,000 over the course of the life of the listing.
Following the 2004 sale a DA was submitted in 2007 for a garage/shed with a build value of $9,037.
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Port Pirie, SA mortgagee sold for $45,000 loss

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EXPERT OBSERVER
The performance of the housing market can vary dramatically from region to region, but also across the different product types and value ranges. 
Splitting the market into quartiles can provide a better understanding of which sectors are firing and which ones are lagging.
In Sydney and Melbourne its clearly the prestige end of the market that is driving the strongest capital gains, with values up 4.2% and 4.6% over the September quarter across the top quartile of the market.
This was also the sector that recorded the largest decline during the down phase, with Sydney’s top quartile properties remaining 13.6% below their previous peak while Melbourne’s top quartile properties are still 11.9% below their peak.
<img src="https://www.urban.com.au/images/2019/10/4/Lawless%20dwelling%20values%201.JPG" alt="">
Brisbane is showing stronger growth conditions across the middle to lower valued properties where values are 0.8% and 0.7% higher over the quarter.
During the downturn the middle to lower priced segments of the market were also more resilient to falls than the top end.
Similarly, Adelaide is showing better resilience to falling values across the more affordable end of the market while the top quartile records the largest declines over both the quarter (down 1.2%) and cumulatively (down 3.5% since peaking). The opposite is true in Perth were the high end of the market has been a little more resilient to falling values.
While each of the broad valuation cohorts has recorded a sustained drop in values, the reduction has been less severe across Perth’s top quartile where values are down 16.5% since peaking compared with a 27.8% decline across the lower quartile.
Hobart has been one of the strongest markets over the past few years, however with affordability constraints becoming more pressing, the lower quartile properties are showing a better performance relative to more expensive properties.
The lower quartile saw a 1.4% rise in housing values over the September quarter after posting a smaller loss relative to the top quartile.
<img src="https://www.urban.com.au/images/2019/10/4/Lawless%20dwelling%20values%202.JPG" alt="">
Darwin’s housing market has been doing it tough since 2014, however the September quarter has seen the lower and middle quartiles actually record a subtle increase in housing values while the upper quartile continues to record heavy loss.
All three of the broad valuation cohorts have recorded material declines in values since peaking, demonstrating the broad based declines across Darwin's housing market.
Canberra’s upper quartile housing is the only broad housing segment across the capital cities where values were at a record high at the end of the September quarter.
Values are rising across all three of the broad market segments, however it’s the top quartile where growth is strongest.
The different performances of the housing market across broad valuation groups highlights how diverse conditions can be below the surface.
Factors such as housing affordability, lending policies, market cycles and local economic and demographic conditions can have a significant baring on market activity
TIM LAWLESS is the CoreLogic head of research
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Expensive properties are driving the market rebound: Tim Lawless

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EXPERT OBSERVER
Corporate Australia is taking action on climate change. Most recently, at the UN Climate Summit, Atlassian cofounder Michael Cannon-Brookes announced the A$26 billion Australian software company’s commitment to <a href="https://www.forbes.com/sites/daviddawkins/2019/09/23/atlassian-billionaire-presses-united-nations-on-net-zero-emissions-pledge/#6fdba03d96b5" target="_blank">net zero emissions by 2050</a>.
Net zero pledges like this are becoming more common but currently there is no way to really track momentum towards net zero emissions across different sectors of the economy.
Now, a <a href="https://www.climateworksaustralia.org/net-zero-momentum-tracker" target="_blank">Net Zero Momentum Tracker</a> initiative has been established by ClimateWorks Australia and the Monash Sustainable Development Institute to track emissions reduction commitments made by major Australian companies and organisations, as well as state and local governments.
The tracker aims to place all commitments to net zero emissions in Australia in one place and evaluate how well they align with the Paris climate goals.
<h2>Property sector tracking towards net zero emissions</h2>
We began by assessing Australia’s property sector. Last week we released a <a href="https://www.climateworksaustralia.org/publication/report/net-zero-momentum-tracker-property-sector-report" target="_blank">report</a> examining all property companies listed in the ASX 200, plus all of those required to <a href="/news">report their emissions</a> under the National Greenhouse and Energy Reporting Act.
Among the companies we looked at are Dexus, Mirvac, Stockland Corporation, GPT Group, and Lendlease. They develop, own or manage some of Australia’s largest corporate offices, commercial properties, retail centres, retirement villages, and residential developments.
The report found almost half – 43% – of Australia’s largest listed property companies have made commitments that closely align with the Paris Climate Agreement, aiming to achieve net zero greenhouse emissions before 2050 for their owned and managed assets.
Significantly, the six companies with the most ambitious net zero targets represent 36% of the ASX 200 property sector. Among these six, several major companies – Dexus, Mirvac, GPT Group, and Vicinity – are aiming for net zero emissions by 2030, demonstrating the business case for strong climate action.
<h2>Sector leaders can inspire copycat action</h2>
By highlighting what action organisations are taking and how, the Net Zero Momentum Tracker initiative aims to encourage more organisations to make and strengthen commitments to reduce their emissions, in line with the goal of net zero emissions by 2050.
For example, Australia’s largest owner and manager of office property, Dexus, has a comprehensive strategy for reaching its goal of net zero emissions across the group’s managed property portfolio. This includes reducing energy use, shifting to renewable electricity, electrifying their buildings, and reducing their non-energy emissions from waste, waste water and air conditioning.
Of particular significance is Mirvac’s pledge to be “net positive” by 2030. This means the company aims to go beyond net zero, reducing emissions by more than its operations emit. Mirvac has established an energy company to install rooftop solar on their commercial buildings and is selling power to occupants, among other initiatives. The company also has a “house with no bills” pilot project, to explore how their upstream indirect emissions can be minimised for residential developments.
Another major company, the GPT Group, has extended its commitment beyond the assets it owns and manages to all buildings it has an ownership interest in, including buildings it co-owns or does not manage.
These companies will get multiple benefits from their action, including reduced operating costs, better health and productivity for occupants, and increased sales prices, rents and occupancy rates.
<h2>Need to accelerate action</h2>
While many property companies are tracking in the right direction, none of the companies we considered had net zero targets which comprehensively covered all of their emissions – such as those from co-owned assets, their supply chains and investments.
There is still significant opportunity for property companies to strengthen their commitments towards net zero emissions. This requires targets which address the full scope of direct and indirect emissions within each company’s influence, supported by detailed plans to achieve this.
By making these public commitments to reduce emissions, the property sector is helping build momentum towards achieving this goal across the entire Australian economy.
The next assessments to be undertaken by the Net Zero Momentum Tracker initiative include the banking sector and state and local governments.<img src="https://counter.theconversation.com/content/124264/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/amandine-denis-99925" target="_blank">Amandine Denis</a>, Head of Research, ClimateWorks Australia, <a href="http://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/australias-biggest-property-companies-are-making-net-zero-emissions-pledges-now-we-can-track-them-124264" target="_blank">original article</a>.
Main picture source: AAP Image/James Ross
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Australia's biggest property companies are making net-zero emissions pledges – now we can track them

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EXPERT OBSERVER
The appointment of Abbie Galvin as the NSW Government Architect is a positive signal about the design of the state’s urban environment.
It is a good move forward to have the first woman as NSW Government Architect in Abbie Galvin.
The role of the Government Architect has evolved over 200 years from one of designing all of the state’s public buildings to now having an overview of the whole built environment.
The Urban Taskforce has had a long relationship with the Government Architect particularly as the chair of our Development Excellence Awards jury over almost 20 years. The development industry is keen to contribute to a quality built environment and we look forward to working with Abbie Galvin in this regard.
The NSW Government has recently stressed the importance of public spaces and the quality of the public realm, which will require a balance between the role of the state government, of councils and of the private sector that developed most of the buildings in the state.
It will be important to balance the quality of buildings with affordability, particularly as NSW housing is one of the most expensive in the world. It will also be important for the Government Architect to bring a commercial understanding of building and construction when reforming or developing broader planning rules and requirements that applicants for new projects must comply with.
Already, the NSW planning system is very complex, and slow - and the pursuit of design excellence should lead to faster rather than slower approvals.
The new Government Architect should become an advocate for a more urban way of living, with greater density than the traditional suburbs and champion these more urban ways of living.
The Urban Taskforce is keen to work with Abbie Galvin in her new role as the NSW Government Architect, in shaping the future urban form of our cities.
CHRIS JOHNSON is the Urban Taskforce CEO
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NSW government architect can help shape the urban environment: Chris Johnson

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EXPERT OBSERVER
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Why has the treasurer of Australia, Mr Josh Frydenberg let the banks off the hook for not passing on the full interest rate cut when the RBA reduced interest rates by 0.25% of a 1% earlier this week to stimulate the economy.
Two of the big banks CBA &amp; NAB have refused to pass on the full interest rate cut to their customers, profiting on the back of everyday Australians.
When the Treasurer, Mr Josh Frydenberg was interviewed by Ross Greenwood on the today show of Channel 9, instead of bringing the banks to account threatening them with new legislation to force them to pass on 100% of the rate cut he put the earnest on the customers to shop around for a better deal.
The process of changing lenders is very difficult and intrusive, and the banks have too much control over their clients. 
The federal government of Australia needs to be held to account to stop the big banks holding their mortgage holders to ransom and not passing on the rates cuts which are meant to stimulate the economy not their bottom line. 
This has an effect of stifling economic growth, short changing every day Australians and damping confidence and restricting the growth of new jobs.
Glenn Farah is a partner at real estate agency NGFarah.
 
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Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

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Guides

Developments

New apartments

New townhouses

News