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

<html><body>
GUEST OBSERVATION
The facts are not in dispute.
Annual GDP growth has fallen to <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5206.0" target="_blank">1.8%</a>. On a per-capita basis we have had three consecutive quarters of negative growth. The last time that happened was during the drought and recession of <a href="https://theconversation.com/expect-weak-economic-growth-for-quite-some-time-what-wednesdays-national-accounts-tell-us-118273" target="_blank">1982</a>, almost four decades years ago.
The most recent inflation reading was literally <a href="https://theconversation.com/vital-signs-zero-inflation-means-the-reserve-bank-should-cut-rates-as-soon-as-it-can-on-tuesday-week-115931" target="_blank">zero</a>. Real wage growth has been stagnant <a href="https://theconversation.com/this-is-what-policymakers-can-and-cant-do-about-low-wage-growth-101025" target="_blank">for six years</a>. Household debt is nearly <a href="https://bit.ly/2K0KbIZ" target="_blank">double</a> disposable income. And underemployment is <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0" target="_blank">more than 8%</a>, on top of a 5.2% rate of unemployment.
What is in dispute is what to do about it.
We’ve entered secular stagnation
After being been told for years that the economy is in good shape and that we are <a href="https://www.businessinsider.com.au/video-prime-minister-malcolm-turnbull-on-his-1-billion-ideas-boom-2015-12" target="_blank">“transitioning away from the mining boom”</a>, it’s time to face the reality that, like most advanced economies, we are in a low-growth, low-interest rate, low-inflation trap.
Former US Treasury Secretary Larry Summers has argued for some time that advanced economies, almost universally, are suffering from what he calls “<a href="https://theconversation.com/secular-stagnation-its-time-to-admit-that-larry-summers-was-right-about-this-global-economic-growth-trap-112977" target="_blank">secular stagnation</a>” — a protracted period of low growth caused by too much savings chasing too few productive investment opportunities.
If the description applies to us, and it does, there are only two ways to escape it.
We’ve two options
One is unconventional monetary policy: measures that have the effect that pushing interest rates below zero would have.
The other is aggressive fiscal policy: either big (and if necessary, repeated) tax cuts or a big (and if necessary, repeated) boost in government spending, each of which would put the <a href="https://theconversation.com/vital-signs-when-it-came-to-the-surplus-both-bill-and-scott-were-having-a-lend-116806" target="_blank">surplus</a> at risk.
What would an aggressive-enough monetary policy look like?
The starting point is a concept known as the “equilibrium real interest rate”. It’s the real (inflation-adjusted) rate of interest consistent with stable macroeconomic performance (which means full employment without financial bubbles).
1: Aggressive monetary policy
There is <a href="https://www.brookings.edu/wp-content/uploads/2019/03/On-Falling-Neutral-Real-Rates-Fiscal-Policy-and-the-Risk-of-Secular-Stagnation.pdf" target="_blank">compelling evidence</a> that in advanced economies such as Australia the equilibrium real interest rate is negative.
But getting there in a low-inflation environment is hard. The Reserve Bank can, if it chooses, set the cash rate as low as 0% (<a href="https://theconversation.com/the-reserve-bank-will-cut-rates-again-and-again-until-we-lift-spending-and-push-up-prices-118263" target="_blank">this week it cut it to 1.25%</a>) but it can’t safely move it much lower than zero. If it did, if people and firms found themselves having to pay money in order to keep money in banks, they might simply take their money out, giving the Reserve Bank even less control.
This problem is known as the “zero lower bound”. It means that if the bank needs to cut rates beyond than zero it’ll probably have to do something else that has a similar effect.
The most likely candidate is “<a href="https://theconversation.com/now-is-the-time-to-plan-how-to-fight-the-next-recession-111497" target="_blank">quantitative easing</a>” (QE), whereby the central bank buys long-term government bonds and other securities from investors that have them, effectively forcing cash into their hands, which the zero interest rate means they have little choice but to spend.
It shows up in lower longer-term interest rates (rates for borrowing 5, 10 or even 30 years into the future) and should boost spending and borrowing just as much as cutting short-term rates.
There are at least three difficulties with QE in Australia.
The first is that because the Reserve Bank has never done it before, there are questions about how it would mechanically execute on it. The United States and European experience is helpful in providing a template.
The second difficulty is getting out. Nobody, including the US Federal Reserve, really knows what happens when QE is unwound.
Third, if secular stagnation persists, then QE needs to be a long-term strategy. But is it possible for a central bank to expand its balance sheet buying bonds and securities indefinitely, even if it was buying them at a modest pace? Again, nobody knows.
2: Aggressive fiscal policy
If nothing else, the headaches with monetary policy suggest that fiscal policy might be an attractive alternative. It might also be more effective.
As Reserve Bank governor Philip Lowe noted <a href="https://www.rba.gov.au/speeches/2019/sp-gov-2019-06-04" target="_blank">in a speech on Tuesday</a>, done in a good way government spending on infrastructure could both boost the economy and boost longer term productivity, giving a double benefit. It could be complemented by “structural policies that support firms expanding, investing, innovating and employing people”.
It’s hard to argue with Lowe’s logic. So hard in fact that some of us have been saying <a href="https://www.afr.com/opinion/big-project-spending-a-good-way-to-kickstart-stagnant-economy-20150819-gj2i7v" target="_blank">exactly what he just said for some time</a>.
A quicker way to boost the economy would be to splash cash, either as Kevin Rudd did in the form of cash payments during the global financial crisis, or in the form of <a href="https://theconversation.com/its-the-budget-cash-splash-that-reaches-back-in-time-114188" target="_blank">tax offsets</a> of the kind the Morrison government announced in the 2018 and 2019 budgets.
Delivered straight into bank accounts, both have <a href="https://theconversation.com/election-tip-23-9-is-a-meaningless-figure-ignore-the-tax-to-gdp-ratio-115432" target="_blank">much the same effect</a>, even though one is classified as spending and the other as cutting tax.
The obstacle to doing such things is this government’s – make that this country’s – obsession with balanced budgets.
The surplus can wait
I have <a href="https://theconversation.com/vital-signs-do-deficits-matter-any-more-112680" target="_blank">argued strongly</a> and still believe that debt and deficits do matter, but at the moment we are in serious danger of falling into recession. That makes it imperative to act.
Given the politics of budget deficits and the narratives around economic management, it might be that the burden of action falls on the organisation the least able to pull it off in the present circumstances. That’s the Reserve Bank.
If Australia does dip into recession in the next year or two it will be an unforced error.
Not only would the government be responsible for it by not having taken strong enough action on spending when it could, the bank would also be responsible by taking action too late and letting things get to the stage where it had to act while interest rates were near zero.
Richard Holden, Professor of Economics, UNSW
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/vital-signs-if-we-fall-into-a-recession-and-we-might-well-have-ourselves-to-blame-118387" target="_blank">original article</a>.
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rh-YsoTT2xMuQ

If we fall into a recession (and we might) we’ll have ourselves to blame

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GUEST OBSERVATION
Australian building owners face a bill that could run into billions of dollars to replace <a href="http://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186" target="_blank">combustible cladding</a> of the sort that fuelled the <a href="https://www.bbc.com/news/uk-40301289" target="_blank">Greenfell tower fire in the UK</a>, which killed 72 people, as well as fires in Australia and <a href="http://www.mfb.vic.gov.au/media/docs/post_incident_analysis_for_lacrosse_docklands_-_25_11_2014%20-%20final-dd61c4b2-61f6-42ed-9411-803cc23e6acc-0.pdf" target="_blank">overseas</a>. The cost estimate is based on our calculations for Victoria, which has had apartment building cladding fires in <a href="https://theconversation.com/lacrosse-fire-ruling-sends-shudders-through-building-industry-consultants-and-governments-112777" target="_blank">2014</a> and <a href="https://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186" target="_blank">2019</a>.
Nearly <a href="https://theconversation.com/grenfell-tower-criminal-charges-delayed-but-that-doesnt-mean-there-wont-be-justice-113215" target="_blank">two years on from the Grenfell disaster</a>, there is <a href="https://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186" target="_blank">ongoing tension</a> between policymakers, the building industry and owners about how to resolve the problem of combustible cladding. And little information is available about the scale of the issue for owners across Australia, particularly those living in apartments.
So what could the costs be? We looked at Victoria as a case study. Our modelling produced cost estimates of between A$250 million and A$1.6 billion. The ultimate figure will depend on the cost-efficiency of any rectification program and the risk level and size of the 629 buildings known to be affected – and many more could yet be identified.
<iframe src="https://www.youtube.com/embed/NStPd-v42mY?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Combustible cladding allowed fire to spread rapidly up the Neo200 building in central Melbourne in February 2019. 
How were costs estimated?
The 2018 <a href="https://www.planning.vic.gov.au/building-policy/victorian-cladding-taskforce" target="_blank">Victorian Cladding Taskforce</a> identified 354 low/moderate-risk buildings and 275 high/extreme-risk buildings in a statewide <a href="/news">cladding audit update</a> last October.
There is little data available on dwelling density for Victorian apartment building stock. <a href="https://data.melbourne.vic.gov.au/clue" target="_blank">Melbourne City Council (MCC) records</a> show residential buildings with ten dwellings or more (medium-to-high-density buildings) have an average of 75 dwellings per building in the built-up municipality. Buildings of this density are known to be <a href="https://www.theage.com.au/politics/victoria/government-to-act-on-cladding-crisis-but-only-for-buildings-it-owns-20190527-p51rpr" target="_blank">receiving notices from the Victorian government to act on cladding</a>.
To model costs we have also used real quotes owners have received to rectify their properties, as well as quotes revealed in media reports. These quotes reveal a range of lower costs for low/moderate-risk buildings and higher costs for high/extreme-risk buildings, usually based on the work for varying levels of rectification.
Firstly, we conservatively applied lower rectification cost data, being A$2,500 per dwelling for low/moderate-risk buildings and A$20,000 per dwelling for high/extreme-risk buildings.
Secondly, we applied higher costs found in quotes and media reports. These are $15,000 per dwelling for low/moderate-risk buildings and A$60,000 per dwelling for high/extreme-risk buildings. These figures are still conservative, based on multiple sighted estimates approaching $100,000 per dwelling.
We have calculated costs for two scenarios for all 629 buildings identified by last October: 
<ol>
<li>an average of 75 dwellings per building as per MCC data</li>
<li>an average of 37 dwellings per building, 50% less than MCC data to account for a higher proportion of lower-density developments affected (<a href="/news">based on averages in municipalities</a> significantly affected by the crisis such as <a href="https://www.vba.vic.gov.au/cladding" target="_blank">Port Phillip, Stonington and Moreland</a>).</li>
</ol>
So how high could the bill be?
Our estimates show Victorian owners who are known to be affected may conservatively face a rectification bill of A$250-$500 million, if industry and government work with them to cap costs in economies-of-scale solutions. The bill may be as high as A$1.6 billion, if an inefficient approach is used and we have a higher proportion of larger buildings affected.
<a href="https://images.theconversation.com/files/277823/original/file-20190604-69095-1vb6vrk.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/277823/original/file-20190604-69095-1vb6vrk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Author provided
Cladding audits are ongoing. The number of identified affected properties is likely to rise. At the 2019 <a href="https://www.youtube.com/playlist?list=PLAWpz7v8cdutmOf_GDwtU3Gcs3CLQ5clb" target="_blank">Building Surveyors’ Conference</a>, the Victorian Building Authority appeared to categorise over 1,200 private Victorian buildings as moderately through to extreme risk for combustible cladding.
If this figure is correct, our cost estimates are conservative and will double.
Our estimates do not factor in the apartments yet to be identified or, more broadly, the issues in <a href="https://www.finance.nsw.gov.au/fire-safety-and-external-wall-cladding" target="_blank">other states</a> that have also been identified.
Government and industry shun responsibility
To date, the response of the Victorian government and industry has been to push financial responsibility back onto home owners. A Victorian low-interest loan scheme was launched in October allowing owners to repay amounts over ten years. It has been <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-02-16/combustible-cladding-risk-affects-thousands-but-few-fix-options/10804014" target="_blank">reported</a>, however, that no loans had been granted as recently as February.
The Victorian government’s <a href="https://s3-ap-southeast-2.amazonaws.com/budgetfiles201920.budget.vic.gov.au/2019-20+State+Budget+-+Service+Delivery.pdf" target="_blank">May 27 budget papers</a> stated that A$160 million would be spent on the crisis “on public safety grounds”. This including ongoing assessments of private buildings affected by combustible cladding and 15 evaluation projects to manage and improve rectification outcomes.
As yet no funding has been provided to help owners of private dwellings who bought supposedly compliant properties. While <a href="https://www.propertyobserver.com.au/https://www.sro.vic.gov.au/node/6514" target="_blank">billions in revenue is recouped from stamp duty</a>, owners are being told to rectify a problem for which they were not responsible – all at their own cost.
Many owners simply will not be able to pay. Some individual bills sighted are as much as a quarter of the owner’s property value. On top of this, some insurance premiums have quadrupled.
At the vast costs we have estimated, and based on <a href="https://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186" target="_blank">the chain of events leading to the cladding crisis</a> and the <a href="https://www.smh.com.au/business/consumer-affairs/victims-suffer-as-combustible-cladding-crisis-rages-on-20190402-p519yy" target="_blank">lack of support following</a>, is it reasonable that sole responsibility falls on owners to pay? And will such a move not lead to thousands of <a href="http://theconversation.com/lacrosse-fire-ruling-sends-shudders-through-building-industry-consultants-and-governments-112777" target="_blank">costly actions through the courts</a> as owners try to recoup costs?
Government and industry should provide substantial financial support to owners to help them recover from mass <a href="https://www.smh.com.au/business/fear-over-highrise-tower-fire-risk-in-melbourne-20141203-11zgp7" target="_blank">failures of policy, regulatory policing and industry practice</a>. The UK government has <a href="https://www.smh.com.au/world/europe/britain-to-spend-200-million-fixing-combustible-cladding-20190510-p51m2c" target="_blank">to the tune of £200 million</a> (A$364 million). It is time to support Australian owners in a billion-dollar crisis they were not responsible for creating.
<hr>
Acknowledgments: We would like to thank Phil Dwyer from <a href="http://www.builderscollective.org.au/" target="_blank">Builders Collective of Australia</a> for working with us on the modelling for this article.<img src="https://counter.theconversation.com/content/118121/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;">
Simon Lockrey, Senior Lecturer/ Research Fellow, RMIT University
Trivess Moore, Lecturer, RMIT University
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/flammable-cladding-costs-could-approach-billions-for-building-owners-if-authorities-dither-118121" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Flammable cladding costs could approach billions for building owners if authorities dither

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Centuria and BlackRock have today announced the sale of their jointly-owned Zenith office towers in Chatswood.
It sold for $438.2 million, a record price for an office building outside of the Sydney CBD.
Knight Frank’s Tyler Talbot and Ben Schubert, in conjunction with CBRE’s Michael Andrews and Scott Gray-Spencer, brokered the deal.
The Zenith is A-Grade office complex comprising twin 21 level towers and basement parking.
The 821 Pacific Highway office building, 12 kms North of Sydney CBD property, attracted 10 offers after it was listed earlier this year <a href="/expert-insights/investing/the-zenith-chatswood-listed-with-400-million-price-expectations">with $400 million price expectations</a>.
Set on a 7,990 sqm site, it has a net lettable area of 44,102 sqm, with 785 parking spaces.
Centuria’s Head of Real Estate and Funds Management, Jason Huljich said, the sale price was "an outstanding result," reflecting the general strength of the market and Centuria and BlackRock's asset management strategy in enhancing the yield on the property.
Mr Huljich said income returns from the Centuria Zenith Fund have been excellent, "on average 7.7% p.a., which is very attractive in the current low interest rate environment.”
“The strong sale price achieved from The Zenith offers more proof of our ability to identify opportunities in strengthening markets, which allows us to implement our active asset management strategy to make our properties more attractive workplaces for both our existing and prospective tenants.”
“In the time we have owned The Zenith with BlackRock, our asset management teams have worked extremely hard on the property – they have closed 58 leasing deals to take the occupancy to 100% and increase the WALE from 2.5 to 4.3 years.”
“The success of our active management strategy is clear in the significantly increased rents.
"When we bought The Zenith in 2016, market rents were on average $490 per sqm net p.a. and we have recently completed a deal at $685 per sqm net p.a., which is the highest rate ever recorded in Chatswood. This is because tenants recognise the quality of the property and its position as the premier building in its market," he concluded.
<img src="https://www.urban.com.au/images/2019/6/7/Zenith%202.JPG" alt="">
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Zenith towers in Chatswood sold for $440 million

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Centuria and BlackRock sold their jointly-owned Zenith office towers in Chatswood to US giant fund manager Starwood.
It sold for $438.2 million, a record price for an office building outside of the Sydney CBD.
The Connecticut based Starwood Capital made the acquisition with New South Wales' Arrow Capital Partners.
Knight Frank’s Tyler Talbot and Ben Schubert, in conjunction with CBRE’s Michael Andrews and Scott Gray-Spencer, brokered the deal.
The deal was struck at a yield in the range of 6 percent and 6.5 percent. 
Early last year, Starwood Capital, Arrow Property Investments and Pindan Capital completed a $160 million purchase of the seven-level, 17,792 sqm St Leonards building at 29-57 Christie Street. 
The Zenith is A-Grade office complex comprising twin 21 level towers and basement parking.
The 821 Pacific Highway office building, 12 kms North of Sydney CBD property, attracted 10 offers after it was listed earlier this year <a href="/expert-insights/investing/the-zenith-chatswood-listed-with-400-million-price-expectations">with $400 million price expectations</a>.
Set on a 7,990 sqm site, it has a net lettable area of 44,102 sqm, with 785 parking spaces.
Allen's advised on the sale of two office buildings with lead partner Victoria Holthouse.
In 2016, Allens had advised BlackRock and Centuria on their joint acquisition.
"Having previously advised on the acquisition of The Zenith in 2016, we were delighted to again assist BlackRock and Centuria on the asset's sale," she said.
Centuria’s Head of Real Estate and Funds Management, Jason Huljich said, the sale price was "an outstanding result," reflecting the general strength of the market and Centuria and BlackRock's asset management strategy in enhancing the yield on the property.
Mr Huljich said income returns from the Centuria Zenith Fund have been excellent, "on average 7.7% p.a., which is very attractive in the current low interest rate environment.”
“The strong sale price achieved from The Zenith offers more proof of our ability to identify opportunities in strengthening markets, which allows us to implement our active asset management strategy to make our properties more attractive workplaces for both our existing and prospective tenants.”
“In the time we have owned The Zenith with BlackRock, our asset management teams have worked extremely hard on the property – they have closed 58 leasing deals to take the occupancy to 100% and increase the WALE from 2.5 to 4.3 years.”
“The success of our active management strategy is clear in the significantly increased rents.
"When we bought The Zenith in 2016, market rents were on average $490 per sqm net p.a. and we have recently completed a deal at $685 per sqm net p.a., which is the highest rate ever recorded in Chatswood. This is because tenants recognise the quality of the property and its position as the premier building in its market," he concluded.
<img src="https://www.urban.com.au/images/2019/6/7/Zenith%202.JPG" alt="">
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US giant fund manager Starwood buys Zenith Chatswood for $440 million

cjames-5S2v74qSNK

Active first home buyers; investors on strike: Craig James

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A Wangi Wangi, NSW mortgagee home has finally sold after 300 days on the market and two unsuccessful auctions.
The thee bedroom, one bathroom house, originally listed for $499,000, saw six price reductions over the course of the listing down to $369,000.
Bruce Avery of Avery Property Professionals held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-wangi+wangi-129777710" target="_blank">31 Nunda Road</a>, the property is set on 519 sqm.
The 1980 built house features an in-ground swimming pool, outdoor entertaining deck and a single car garage.
Despite the numerous price reductions on the listing and unsuccessful auctions the property sold for $355,500.
The sale marks a $100,500 price increase on it 2003 sale price of $255,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a home in <a href="/developments/wangi-wangi-nsw-2267">Wangi Wangi</a> is $655,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.4%.
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Wangi Wangi, NSW mortgagee home sold after two unsuccessful auctions

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ME Bank has announced they will be passing on the full RBA rate cut to variable home loan customers.
The announcement comes three days after the <a href="/expert-insights/finance/rba-cut-official-cash-rate-to-a-historic-low-1-25-at-june-2019-meeting">RBA rate decision</a> and comes into effect on 27th June 2019.
On the day of the RBA rate decision all of the Big Four banks as well as a number of smaller lenders announced cuts of varying size.
Both <a href="/expert-insights/finance/nab-joins-cba-in-full-0-25-rate-cut-to-historic-lows">NAB</a> and <a href="/news/cba-announce-full-rate-cut-after-june-rba-meeting">CBA</a> announced they will be passing on the full rate cut. But <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">ANZ is only passing on a cut 0.18 basis points</a>, something Treasurer Josh Frydenberg especially disapproved of stating, “I think the ANZ has let down its customers."
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">Westpac was the last of the big four</a> to announce they were cutting rates, following the RBA's decision they announced their rate cuts late on Tuesday of 0.20 basis points.
ING, the nation’s fifth largest home loan lender chose to pass the full 0.25 per cent cut on to their variable rate customers, effective 25 June 2019.
Popular banks that have yet to announce their intentions include HSBC and AMP.
 
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ME Bank to pass on full RBA rate cut

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EXPERT OBSERVATION
The Customer Owned Banking Association (COBA) has strongly criticised a Treasury proposal to hike levies on smaller banks while cutting levies for the four major banks.
Treasury is proposing dramatic increases in levies on customer owned banks and smaller listed banks while gifting the big four a $3 million levy reduction (see Treasury table below).
The levies are intended to cover higher regulatory costs for the banking regulator APRA flowing from the Financial Services Royal Commission.
Smaller banks’ levies are sharply ratcheted upwards by more than 25% while major bank levies are reduced.
This makes no sense at all given it was the misconduct of the major banks that has prompted the need to increase resourcing for APRA.
Customer owned banking institutions have not engaged in the misconduct examined by the Royal Commission but now face being forced to ‘pay the price’.
These proposals send a very confusing signal about the Government’s intention to hold the major banks accountable for their conduct.
Major banks already have a head start on their smaller competitors through various aspects of the regulatory framework.
They don’t deserve the extra help of a cut in their APRA levies while their much smaller competitors are hit with huge increases.
Click <a href="https://www.propertyobserver.com.au/images/2019/6/6/ADI%20Levies.JPG" target="_blank">here</a> to enlarge
<img src="https://www.urban.com.au/images/2019/6/6/ADI%20Levies.JPG" alt="">
I urge the Treasurer to intervene and rule out these grossly unfair increases in APRA levies on COBA member banking institutions.
Regulator industry levies should be set with sensitivity to the cost burden on smaller banking institutions and with more weighting given to the systemic importance and market power of major banks.
The Productivity Commission describes the banking market as ‘an established oligopoly where the four major banks hold substantial market power and this is substantially supported by regulatory settings which contribute to the major banks’ structural advantages.
Sharply increasing levies paid by smaller banking institutions while reducing levies paid by major banks will make a bad situation worse.
MICHAEL LAWRENCE is the CEO of the Customer Owned Banking Association. 
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Unfair tax hike proposed for smaller banks: COBA's Michael Lawrence

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GUEST OBSERVATION
In 2019, <a href="https://www.communitycouncil.com.au/content/australia-we-want-media-release-7-may-2019" target="_blank">The Australia We Want</a> report noted that at least half of Australian women do not feel safe walking alone at night. This is unsurprising given the <a href="https://www.plan.org.au/freetobe" target="_blank">prevalence of sexual harassment</a> and gender violence women manage when moving through cities every day. Women’s avoidance of areas of the city creates a <a href="https://theconversation.com/no-harm-done-sexual-entertainment-districts-make-the-city-a-more-threatening-place-for-women-81091" target="_blank">complex internal geography of exclusion zones</a> and “take extreme care” zones – all in the hope that this vigilance will keep them out of harm’s way.
Protecting women from the violence committed by some men is a priority. So too is recognising that most <a href="https://theconversation.com/gender-makes-a-world-of-difference-for-safety-on-public-transport-80313" target="_blank">cities are gender-blind and disregard women’s needs and experiences</a>.
We need to understand the patterns that exclude women from areas of cities and not defer to the usual responses – brighter lighting, more CCTV cameras and more authority figures. In fact, <a href="http://planfreetobe.org/">our research</a> into unsafe “hotspots” has found young women’s perceptions of urban safety do not correlate with the most brightly lit spaces.
We know that creating safer cities for women requires one fundamental shift: that we <a href="https://theconversation.com/to-design-safer-parks-for-women-city-planners-must-listen-to-their-stories-98317" target="_blank">listen to women’s voices</a>. We need to develop urban strategies and planning policies that draw on women’s experience and expertise as users of city spaces.
What does the research tell us?
<a href="https://www.plan.org.au/" target="_blank">Plan International</a>, the <a href="https://www.monash.edu/mada/research/labs/xyx-lab-monash-space-gender-communication-lab" target="_blank">Monash University XYX Lab</a> and <a href="https://www.arup.com/" target="_blank">ARUP</a> lighting researchers have pooled their expertise to drill down into the stories of young women and analyse the relationship between urban lighting and women’s perceptions of safety.
<a href="https://research.arup.io/story/cities-for-girls">The research </a>struck on some compelling correlations between light levels and unsafe places. Analysing over 80 of the most unsafe “hotspots” identified by women in Melbourne, the research found that high illuminance – or very bright and overlit spaces – does not correlate with young women’s perceptions of urban safety.
This is important information as planners often light spaces to a high <a href="https://www.standards.org.au/standards-catalogue/sa-snz/electrotechnology/lg-002/as-slash-nzs--1158-dot-4-colon-2015" target="_blank">“P” Category</a> (a measure used in urban place-making guidelines) of lighting. It’s assumed this will reduce the risk of crime and increase the feeling of safety.
But our research shows that designing lighting that is positive for women’s urban experience requires more nuance. The findings show that sites with higher light levels are more likely to be perceived as unsafe sites – the average light level across these sites was twice what was measured across safe sites. This is a finding with the potential to radically change a city’s approach to lighting for safety.
The analysis showed that consistent and layered lighting – where there are multiple light sources and where surfaces with different reflective values are taken into consideration – makes women feel most safe. This kind of lighting reduces the “floodlit effect”, the sharp drop-off of light beyond the path, and the potential for glare and contrast to blind and disorientate.
The emphasis on LED lights for their energy efficiency is unquestioned. But in urban lighting they are mostly a higher colour temperature such as 4000K “cool white” and above. This new research challenges the effects of this approach.
Instead of yellowish sodium lighting, women prefer a high-quality LED light that enables them to distinguish shapes and colours. 
ARUP’s research shows the human visual spectrum reacts better to warm light, and the data from young women showed how sensitive they are to cool white light with regard to feeling safe in cities. Spaces with warmer colour temperatures are perceived as safer places.
Looking deeper into the quality of light in our cities, the majority of bad areas had a very large range of colour rendering. The lowest colour rendering came from sodium luminaires that make everything look overly yellow. Women preferred a high-quality LED light that enabled them to distinguish shapes and colour, helping to create a sense of safety.
What does this mean for urban design?
More broadly, the research challenged the assumptions that urban lighting design relies on in general, and the effect it has on the character of our cities at night.
At present, illuminance (the measure of light falling on a surface, or Lux) is the only unit of measurement required to comply with the P Categories of the Australian Standards. Based on the results, it appears other metrics such as luminance (light bouncing off a surface and hitting the observer’s eye) should be considered too. This will ensure the context of material finishes and surface intensity is taken into account for how the eye perceives space.
Through research such as this, we have the knowledge, data and technology to engage women in trialling new ways of co-designing better outcomes for cities after dark. We can use considered urban design as a tool for positive change.
Nicole Kalms, Director of XYX Lab + Associate Professor in the Faculty of Art, Design and Architecture at Monash University, Monash University
This article was co-authored by ARUP VIC/SA lighting leader Tim Hunt. The site analysis was led by ARUP lighting designer Hoa Yang.<img src="https://counter.theconversation.com/content/113359/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
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/more-lighting-alone-does-not-create-safer-cities-look-at-what-research-with-young-women-tells-us-113359" target="_blank">original article</a>.
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More lighting alone does not create safer cities: Nicole Kalms

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CWP Renewables and Partners Group are pioneering Australia’s first, large-scale, public, community investment into a utility-scale wind farm. 
The Sapphire Wind Farm Community Co-investment allows investment in the Sapphire Wind Farm in the New England district.
At 270MW it is the largest wind farm in New South Wales. The energy generated by the Sapphire Wind Farm is enough to power around 115,000 homes and to displace 700,000 tonnes of carbon dioxide each year.
DomaCom, who has partnered with developers CWP Renewables and Partners Group, are closing applications for the co-investment initiative of Sapphire Wind Farm in rural New South Wales at the end of the month.
The Sapphire Wind Farm, in Kingsland is an Australian first for its community co-investment.
Initially the opportunity, closing June 30 was only made available for those in the local community, however building on the success of the campaign, the developers extended the initiative to all residents from NSW and the ACT.
Over $7.4 million of pledges were made by community members interested in investing throughout 2017/2018.
DomaCom's <a href="https://domacom.com.au/" target="_blank">fractional property platform</a> allows small investors alongside institutional investors.
The platform allows multiple investors to aggregate their investments into an asset, typically a real estate asset, but now also renewable energy projects.
Andrew Dickson at CWP Renewables, the company behind constructing the wind farm, said DomaCom is a great fit for the community co-investment initiative.
"Their online platform makes it very easy for people to establish and manage their investment," Dickson said, adding that after testing the community's interest late last year, he was surprised with the level of interest."
The project is projected to have a return of 6% which Andrew said, "represents a good investment... better than the bank."
A minimum investment of $1,250 is required (maximum investment of $200,000).
The latest fund raising seeks $3 million of pledges.
Ross Laidlaw from DomaCom said, "the Sapphire Wind Farm Community Fund is a clear demonstration of the vision of DomaCom taking large institutional assets and breaking them down into fractional components to allow retail investors to obtain exposure to an asset class not previously available.”
Construction of the wind farm began in January, and the final turbine was installed in October. 
100MW of the wind farm's capacity has been contracted to the ACT government, as part of the Territory’s 100 per cent renewable target for 2020.
Another 50MW of the project’s capacity was contracted to renewable energy retailer Flow Power, which has now sealed a deal with the Sydney Opera House.
Under that deal, the Opera House will buy 16 gigawatt hours of wind and solar output a year from both Sapphire and the Bomen solar farm, also located in NSW.
For more information on DomaCom <a href="https://domacom.com.au/" target="_blank">click here.</a>
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