<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

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&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

[smartcode_project:default project_id=151921 project_image_fid=370263]

The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

[smartcode_project_cta:default project_id=151921]

AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

First look: Scion plots Castle Hill apartment development near Hills Showground Metro Station

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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GUEST OBSERVATION
Labor is promising a “living wage” rather than a “minimum wage” if elected.
It will ask the Fair Work Commission to first determine what wage would offer a “<a href="https://brendanoconnor.com.au/news/latest-news/labor-will-make-sure-the-minimum-wage-is-a-living-wage/" target="_blank">decent standard of living for families</a>”, and then to determine the time frame over which it should be phased in, taking into account the capacity of businesses to pay, and the potential impact on employment, inflation and the broader economy.
It is selling the idea of what would be a very big increase on the present minimum wage as “good for workers and good for the economy”.
“Consumer spending makes up 60% of the Australian economy,” its employment spokesperson Brendan O'Connor said. “When low-paid workers get a pay rise, they spend it in the local shops and help small businesses. It’s good for everyone.”
The idea harks back to the 1907 <a href="http://worksite.actu.org.au/the-harvester-judgement-and-australias-minimum-wage/" target="_blank">Harvester judgement</a>, in which an arbitration court judge decreed that wages at a Melbourne factory should be based on the cost of living “for a worker and his family”.
To get there from the current bare minimum wage of A$18.93 per hour would almost certainly require increases bigger than the sum of productivity growth and inflation, which are running at a combined annual rate of around 3%.
Unacknowledged by Labor in spruiking the policy this week was the fallacy of its consumer spending argument, the cost of the proposal to jobs, and the likelihood that it won’t much help many of the people who need it.
The false increased spending argument
One of the claimed benefits of a living wage is that employees will spend most of their extra income, resulting in large increases in national spending, national income, and even the tax take.
An implicit assumption is that the extra money comes “as manna from heaven” with no second-round effects.
But given that other labour costs won’t come down (it is hard to see executive pay being cut), the labour cost for each affected business will climb, pushing down returns to the providers of capital, including the returns to shareholders and small business owners.
With lower returns, less capital will be put up to invest.
Where businesses can, they will pass on the increased costs not matched by increased productivity by increasing prices.
They will get away with it unless they face competition from imports or other exporters.
Where import competitors and exporters face international competition, they will reduce output. In turn, the greater amount of money sent out of the country will eventually push down the Australian dollar, pushing up the Australian dollar price of import and export products.
In the short term, the increases in prices of goods and services will cut the purchasing power of the wage increase. In the longer term, it might create a vicious cycle of wage and price hikes, with adverse economic consequences.
The bad news on jobs
It is well established that wage increases above the rate of productivity growth plus inflation lead to less employment than there would otherwise be, in both the number of employees and the hours worked per employee.
Labour costs are a major expense for most businesses.
In response to higher labour costs, many employers will choose less labour-intensive ways of making their products. The large and rapid wage increases in the mid-1970s and early 1980s resulted in sharp reductions in employment. In contrast, the recent low rates of labour cost increases have helped drive significant increases in employment and a fall in unemployment.
With the Australian economy facing a likely slowdown over the next year or two, a large increase in wages might be particularly poorly timed.
The false hope for those most in need
Universal education and health care, and the redistribution of income via social security payments funded by a progressive income tax, are the most direct and effective ways to fight household poverty.
The world today is very different to the world of the Harvester case in 1907. Then, most workers were in full-time employment and needed a living wage to support a family. Now, about a third are employed part-time. Redistribution via the tax and payments system is how we support families who need it.
A higher minimum or “living wage” would provide minimal assistance to some on low incomes, and would lift the incomes of many others not generally considered in need of support.
Many of those below the poverty line who are only employed part-time or not at all would not be lifted out of poverty. A higher living wage would provide more to those already in full-time jobs than it would to part-time workers.
And it would provide more to low-wage employees who are members of high-income families, who probably shouldn’t be our first concern.
We can do more more directly to alleviate poverty by reforming the income tax and social security systems. They are specifically designed to redistribute income according to need.
We should start by reducing income tax on low earnings, automatically indexing tax brackets, and increasing Newstart.<img src="https://counter.theconversation.com/content/114359/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;">
John Freebairn, Professor, Department of Economics, University of Melbourne
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/the-false-hope-offered-by-talk-of-a-living-wage-114359" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

The false hope offered by talk of a living wage: John Freebairn

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A Sydney city fringe property with future development potential has been listed.
The mixed-use freehold corner site at 18 City Road, Chippendale has a two level building on a 259 square metre site.
It has B4 zoning allowing mixed-use and student accommodation development, potential to strata subdivide (STCA) and dual street frontage.
<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/2019/4/5/18%20city%20rd%20living%20area%201.jpg" alt="">
Savill’s Tom Tuxworth, David Hickey, and Jacey Lee are marketing the property.
Hickey said the investment offers a diverse tenant mix with strong annual income.
“This is a prominent, highly sought-after and strategic location within the booming city fringe and fast developing cosmopolitan suburb of Chippendale,” said Hickey.
“We expect interest from owner occupiers, local and offshore investors, student accommodation developers, mixed-use developers and value add investors.”
<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/2019/4/5/18%20city%20rd%20rooftop%201.jpg" alt="">
According to Savills Australia, over the last 18 months, five out of 10 freehold transactions in the Sydney city fringe with a value of $10 million-plus were sold to local buyers.
Tuxworth said competition between local and offshore, in particular Asian investors and developers will be fierce.
“Throughout 2018 many owners sold their assets for a number of reasons including strong rental demand and record capital growth being achieved,” he said.
“The increase in values can be attributed to, in part, record low interest rates and a surplus of global capital flowing into Sydney over the last few years.
“With stock supply reduced in 2018, demand and competition was and continues to intensify which resulted in record-breaking prices in the city fringe.
“However, in the New Year we have seen a resurgence in Asian capital and active offshore buyers looking to secure prime investment stock.”
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jonathanchancellor-7SQnKwU6yx

Chippendale corner site tipped for local and foreign buyer showdown 

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A new co-working space has opened in Sydney’s CBD.
The GPT’s Group’s Space&amp;Co venue at 580 George Street Sydney will occupy more than 1,000 square metres on Level 10.
The space will be able to accommodate 160 members.
Features and amenities will include workstations, two boardrooms, secure internet connections, private suites and multiple meeting spaces, GPT’s National Director, Flexible Workspace Solutions Shey Hooper said.
“Our new Space&amp;Co. venue has been specifically designed to deliver to the growing interest we are seeing from businesses of all sizes for flexible workspaces that offer more privacy and digital security,” Hooper said. 
“We continue to see strong demand for our premium flexible workspaces, including 580 George Street where we have now increased the size of our Space&amp;Co. a second time since we opened in the building in 2016.”
“The opening of our new Sydney venue follows the successful expansion of Space&amp;Co. in Melbourne – where we now have four venues with around half of our members drawn from the existing tenants in the buildings where we operate.”
BVN Senior Practice Director Sally Campbell said the design of the new venue had been shaped by the evolving needs of members.
“We are now able to collect data from existing sites which provides a deeper understanding of the challenges Space&amp;Co. customers face in their own businesses and how that impacts their space requirements,” said Campbell.
“Space&amp;Co. is a provider of real estate solutions that support evolving businesses, and for this reason it is a necessity to incorporate flexibility in both environment and service to be able to respond quickly to tenants ever changing needs. Adopting an attitude of constant evolution is critical.”
Hooper said the said the venue benefitted from being in Sydney CBD’s Midtown area, which has emerged as a hub for start-ups and international technology and creative firms.
“580 George Street includes the best amenities and is arguably the most convenient location for any workplace in Sydney,” said Hooper.
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New co-working space opens in Sydney CBD 

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EXPERT OBSERVER
The new Minister for Planning and Public Spaces, Rob Stokes, must kick start Sydney’s falling housing supply as his first priority.
Rob Stokes is a good choice as NSW Planning Minister as he clearly understands the portfolio and is a good advocate for quality urban growth.
Rob has previously been Planning Minister but the portfolio has become much more complex and is even more significant for the state’s economy than when he left the portfolio. Housing approvals have collapsed in Sydney, as have housing pre sales, which will lead to a big drop in the supply chain of new homes over the next few years.
Part of the reason for the big drop in approvals over the last year has been the very negative rhetoric about over development across Sydney that has even included terrace houses as being too dense for suburban streets. The Ryde council area has put all new planning proposals on hold, and 50 councils have been given a moratorium on allowing town houses and terrace houses in their areas.
There is also significant confusion about the role of the Greater Sydney Commission (GSC) with its planning Assurance Reviews, related to the role of the Department of Planning particularly with policy and strategic planning issues. The Minister will need to clarify the roles of these two organisations.
When Premier Berejiklian first took on the role of Premier she stated her first priority was to increase housing supply, but the opposite is now occurring with a dramatic slowdown in supply. It is essential that the State Government must make the increase of housing supply its first priority.
Compounding the slowdown in housing approvals is the increasing cost for infrastructure levies; with the government’s cap now removed and confusion over policies for affordable housing, and the use of old industrial land where the GSC seems to have a different position to the Department of Planning.
The Urban Taskforce believes that Minister Stokes must instigate a Housing Supply Summit soon, so that all parties can understand what is likely to happen over coming years if no policy changes are made. It will be important to involve NSW Treasury in the Summit, as stamp duty levies will dramatically reduce NSW Government income unless the industry is stimulated.
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We also acknowledge the appointment of Andrew Constance in the important role of Minister for Transport and Roads, as this infrastructure is the critical determinant of where new growth should be located.
Clearly the Treasurer, Dominic Perrottet, will have a critical input into the housing and property industry, as any slowdown will have a negative impact on the state’s economic performance. We believe the Treasurer will need to get his Productivity Commissioner and Chief Economist to take a critical look at the housing industry.
The Urban Taskforce is keen for the new Minister for Property and Housing, to continue the Communities Plus program of renewing social housing estates across Sydney.
A major priority is to ensure that the Minister for Planning has up to date information on housing approvals and commencements as the Department of Planning’s Housing Monitor has not been updated since October 2018. It is essential that transparent information on housing supply is available for all stakeholders.
CHRIS JOHNSON is the Urban Taskforce CEO.
 
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cjohnson-8xfqfuuCSq

Rob Stokes must kick start Sydney's falling house supply: Urban Taskforce

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There was no game, set and match when a Brighton tennis court failed to find a buyer at weekend auction, after attracting just the one bid of $3.75 million.
The vendors at <a id="m_1632196101188182388LPlnk173799" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/tucWCmO5OnH1wWoOiGsxWv?domain=marshallwhite.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/tucWCmO5OnH1wWoOiGsxWv?domain%3Dmarshallwhite.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNFdfXvzXpBMTEtqfYK6m_HzxGdf8Q">58 Were Street</a> had $3.8 million to $4.1 million pre-auction price hopes, and will now take $3.95 million.
Their neighbouring house at <a id="m_1632196101188182388LPlnk64277" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/jqFBCnx1xocl0mZ8tJb4La?domain=marshallwhite.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/jqFBCnx1xocl0mZ8tJb4La?domain%3Dmarshallwhite.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNGr-SNOj-SnNcfmEcJDXA24CH8Usg">60 Were Street</a>, which had $3.5 million to $3.8 million hopes, was also passed in with one bid at $3.55 million.
The home with tennis court has only had two owners since its 1919 construction with the current vendors buying it in 1982 for $285,000, The Herald Sun reported.
The tennis court is a 892-square-metre block of land (top) , while the five-bedroom house with garden (below) covered by a heritage overlay is on 1070 sqm.
<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/2019/4/1/Were1.jpg" alt="">
It's a periodic occurrance as earlier this month a Hunters Hill, Sydney tennis court offering fetched $3.55 million, some $250,000 above reserve.
<a id="m_1632196101188182388LPlnk449287" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/BIe2CoV1V0hlNvVOtVXeJ3?domain=thenewdaily.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/BIe2CoV1V0hlNvVOtVXeJ3?domain%3Dthenewdaily.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNEqulnKGlPV5H63j7dbgn2QGjlMlw">The 900-square-metre grass tennis court holding</a> was once part of the 1893 house next door.
In 2017 a tennis court at <a id="m_1632196101188182388LPlnk651901" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/OEDuCp818qhQrA0YtGBQWi?domain=thenewdaily.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/OEDuCp818qhQrA0YtGBQWi?domain%3Dthenewdaily.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNHpzW3jOsD8qG0zp3G_ojkBDvBWiA">16 Stradbroke Avenue, Toorak</a> fetched $7.805 million at an auction that resembled a five-set tennis match.
Melbourne's top weekend sale was at Albert Park where <a id="m_1632196101188182388LPlnk567997" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/dGsgCq717rSLAXyqsNNNS8?domain=cayzer.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/dGsgCq717rSLAXyqsNNNS8?domain%3Dcayzer.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNGBRS2-wtUAZBG1MM-PtmfZW-xp7g">7 O'Grady Street</a> (below) sold through Cayzer Real Estate for $3.14 million after it had been totally transformed behind its classic Victorian facade.
<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/2019/4/1/Albert.jpg" alt="">
Set on 272 sqm with double garage, the four bedroom, two bathroom home last traded at $492,500 in 2000. 
There had been $2.75 million to $3 million price guidance.
Melbourne had the <a id="m_1632196101188182388LPlnk572311" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/OaT7Cr818vhwK2RgCN-NPS?domain=harcourts.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/OaT7Cr818vhwK2RgCN-NPS?domain%3Dharcourts.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNGzRHzcKl0ZmlxjFt9qYC8WU_IbAA">cheapest weekend result across the capital cities when a Malvern East</a> studio apartment sold at $103,000.
The price guidance had been $130,000 to $143,000 for the student accomodation at 203/60 Waverley Road, set close to Monash University Caulfield Campus.
It was last advertised as a $275 a week rental.
CoreLogic reported the highest residential sale under the hammer in Sydney was <a id="m_1632196101188182388LPlnk118333" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/8-_-Cvl1lzIOmAnQHyb2Ln?domain=georgesellis.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/8-_-Cvl1lzIOmAnQHyb2Ln?domain%3Dgeorgesellis.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNFvazU6Wkg5Onyd_O8iSaVAZ-vyPA">7 Wallis Avenue, Strathfield</a> (below) for $4,250,000 through George Ellis and Co. It was a three bedroom home marketed as set to be extended or rebuilt on its 689 sqm block.
<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/2019/4/1/Strath.jpg" alt="">
There was a pre-auction $5,375,000 sale at <a id="m_1632196101188182388LPlnk7499" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/XuqKCwV1VAh0MyEBSQAJyc?domain=ppdre.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/XuqKCwV1VAh0MyEBSQAJyc?domain%3Dppdre.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNHb61nGq2NKP-b4GEkWSanBCGC-oQ">436 Bronte Road, Bronte</a>, continuing the Sydney trend where more offerings sold pre-auction than under the hammer for the third consecutive week.
But the Sunday Telegraph reported the vendors of a unit in Cremorne Point were rewarded for sticking with their auction when it sold for $2.11 million, some $110,000 higher than a pre-auction offer for the three-bedroom <a id="m_1632196101188182388LPlnk733547" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/P3okCxngnBIm6x5YfA3Kms?domain=belleproperty.com" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/P3okCxngnBIm6x5YfA3Kms?domain%3Dbelleproperty.com&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNF8MR5LlP4A-LzxUIebNVgDTxLcZg">14/14 Kareela Road offering</a>.
It last sold at $1,411,001 in 2014.
There were 2,155 homes taken to auction across the capital cities this week, with preliminary results showing a 56.8 percent success rate. 
"It is likely that we will see revision down to the low 50’s as final results are collected," CoreLogic auction analyst Kevin Brogan said.
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Through March the largest auction markets have seen the clearance rate holding around the mid-to-low 50 percent range which is lower than the same time last year, but a substantial improvement relative to late 2018, he noted.
"The number of auctions is likely to rise further in the lead up to Easter; if we see the clearance rate continuing to hold, it will be a strong sign that the fit between buyer and seller pricing expectations is becoming more balanced," he added. 
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In Melbourne, a preliminary auction clearance rate of 53.4 per cent was recorded across 991 auctions this week, down slightly from 55.1 per cent across 814 auctions over the previous week. 
Last week’s clearance rate was the highest Melbourne had seen since September 2018.
Sydney was host to 789 auctions this week, with preliminary results showing a 65.9 per cent success rate, compared to 52.1 per cent across 506 auctions last week. This time last year, the clearance rate was a stronger 67.9 per cent across 394 auctions.
Across the smaller auction markets, Brisbane was the only city to see an increase in the number of homes taken to auction this week, while all other cities saw lower volumes week-on-week.
In Brisbane a waterfront apartment in East Brisbane sold at auction for $1.91 million. There were three registered bidders for the Riyala complex offering, a three-bedroom, plus study and two-bathroom apartment at <a id="m_1632196101188182388LPlnk694141" class="m_1632196101188182388OWAAutoLink" href="https://protect-au.mimecast.com/s/5LDwCyojoDh6vLPxhk-RDV?domain=raywhitepaddington.com.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/5LDwCyojoDh6vLPxhk-RDV?domain%3Draywhitepaddington.com.au&amp;source=gmail&amp;ust=1554153686165000&amp;usg=AFQjCNH6tsvQAaR-fdyS9Ak71jQjZb_qEg">241 Wellington Road, East Brisbane</a>. 
Bidding opened at $1.7 million through agent Phil Waight of Ray White Paddington.
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Brighton tennis court fails to sell in final set of March weekend auctions 

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AMP Capital Diversified Property Fund has sold Crossroads Homemaker Centre to Ashe Morgan for $140 million.
Located on the corner of Beech Road and Camden Valley Way, Casula, the 48,400 square metre-plus centre is home to 28 large format retailers, including anchor tenants Bunnings, The Good Guys, Freedom, Nick Scali and Fantastic Furniture. 
The centre was developed by AMP Capital after its acquisition of the 143,400 square metre site in 2002. 
CBRE's Nick Willis said the sale highlights continued demand for Sydney metropolitan retail assets. 
“Despite forecast headwinds in the retail sector, we are continuing to see an uplift in enquiry and bidder interest as investors identify relative value in the sector compared to other commercial real estate sectors,” said Willis.
“This was again evidenced with Crossroads Homemaker Centre, where we attracted strong and diverse investor interest from private and institutional groups, with 46% of the formal offers received being maiden capital into the large format retail sector. 
 “The Homemaker Centre’s strategic gateway position in Sydney’s south west growth corridor, coupled with its143,400 square metres underlying land area over four separate lots, provides flexibility to adapt the asset to meet the needs of the rapidly changing surrounds.” 
Jonathan Fox of Stonebridge added: “The sale result and volume of enquiry during the sale campaign was extremely strong. We received 13 expressions of interest and the highly competitive second round process highlighted the depth of demand for quality Sydney metropolitan retail assets.”
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Crossroads Homemaker Centre at Casula sold for $140 million

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Following success on New South Wales’ Central Coast, The Grand Pavilion Indian restaurant has established a flagship fourth location in Sydney’s CBD. 
The restaurant has leased 315 square metres of strata retail space at 261 George Street. 
CBRE’s James Beerworth and Leif Olson negotiated the five-year lease deal at $300,000 per annum + GST, which equates to circa $952 per square metre. 
“The Grand Pavilion has opened its new central location, following a $1 million fitout, in answer to Sydney’s under-representation of premium Indian cuisine in the CBD,” Beerworth said.  
“The space offers an accessible George Street location, with proximity to Sydney’s commercial and hotel market, George Street light rail, Australia Square, the Met Centre and Wynyard Station.”
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Grand Pavilion Fine Indian restaurant chain expands into Sydney CBD

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The historic five-storey Assembly Hall building at Scots’ Church in Melbourne CBD’s ‘Paris End’ is now fully leased.
Designed by Henry H. Kemp and built by Swanson Bros. in 1914, it sits immediately in front of Westpac’s modern headquarters and is adjacent to the 1873-built Scots’ Church, on the corner of Russell Street.
Mens’ shoes and fashion accessory label Double Monk has taken a 42 square metre space on part of the ground floor on a 6+6-year deal at $35,000 per annum plus GST with 3.5% increases.
The five suites, across the ground and second floors, cover a total of 172 square metres and the leases will initially bring in a combined rent of circa $94,000 per annum gross plus GST.
Rates range from $450sqm to $550 square metres plus GST per square metre for the second floor.
Other tenants include Jackie Knight Consulting, William Angliss Charitable Fund and Enable Workplace Consulting.
Fitzroys Manager - Agency, Stephen Land and Agency Executive, Sam Friend negotiated the deals.
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Land said the Gothic Revival-style Assembly Hall offered rare self-contained offices in the coveted east end of Collins Street.
“Assembly Hall has retained its historic character over more than a century, an element that continues to draw tenants across the boutique office market,” said Land.
He said strong levels of enquiry were received from a number of different commercial operators, with legal, financial and real estate consultants, not-for-profit groups, and psychology and counselling services particularly prominent.
“The city’s east end offers a vibrant mix of its famous high-end shopping that has the street dotted with iconic global brands; high-profile modern and classic office buildings, and a range of food and beverage options, while Assembly Hall is also located a short distance from the heart of the Melbourne’s CBD.
“Tenants continue to look for spaces that offer attractive lifestyle elements and are well located, with Assembly Hall’s location on Collins Street between Swanston and Russell Streets easily accessible via a multitude of public transport options.”
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Scots’ Church’s Assembly Hall building now fully leased

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Ascott Residence Trust (Ascott Reit) has bought Felix Hotel, for $60.6 million.
The prime freehold limited-service business hotel is located close to Sydney Airport and will be rebranded as Citadines Connect Sydney Airport upon completion of the acquisition in May 2019.
The property will be Ascott Reit’s first business hotel in Australia and its first property to be managed by its sponsor, The Ascott Limited (Ascott) under the new Citadines Connect brand.
The 150-room property was completed and opened in February 2018.
Located in Mascot, it is within walking distance to the Mascot railway station and Sydney Airport, which catered to around 44.4 million passengers in 2018 and is forecast to receive around 60.7 million passengers by 2035.
The acquisition will bolster Ascott Reit’s portfolio in Australia to over 900 units across six properties.
Ascott Reit currently owns three properties in Sydney – Quest Mascot, Quest Campbelltown and Quest Sydney Olympic Park, in addition to Citadines St Georges Terrace Perth and Citadines on Bourke Melbourne.
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Bob Tan, Ascott Residence Trust Management Limited’s (ARTML) Chairman, said the purchase was in line with its strategy to redeploy capital and invest in higher-yielding assets.
“This acquisition will deepen Ascott Reit’s presence in the stable and resilient market of Australia, adding to our portfolio a quality property that provides good yield in the highly sought-after Sydney market,” said Tan.
“Well supported by a range of industries, and a transparent and well-regulated business environment, Australia has consistently ranked as one of Ascott Reit’s top contributing markets in terms of gross profit.
“This acquisition will further strengthen our investment in developed markets, which collectively account for almost 80% of the asset value for Ascott Reit.
“Ascott Reit will continue to seek opportunities in key markets with strong corporate demand, such as Australia, Japan, Europe and the U.S., to deliver strong yield and growth in distribution income for our unit holders.”
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Beh Siew Kim, ARTML’s Chief Executive Officer, said the property’s location was important.
“The target business hotel is adjacent to another property owned by Ascott Reit – the 91-unit Quest Mascot which has been enjoying over 85% occupancy,” Kim said.
“It will enable us to leverage scale and increased operational efficiency from the clustering effect across these Ascott-managed properties. 
“With this enhanced presence in the vicinity of Sydney Airport, Ascott Reit is not only well positioned to benefit from the growing transient traveller traffic, but more importantly gain access to a significant number of transport and logistics-related national corporate accounts, as well as to capture demand from the growing industries in its neighbouring suburbs.”
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Ascott Reit buy Sydney airport hotel for $60.6 million

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GUEST OBSERVATION
PowerHousing Australia today welcomes the announcement of tax breaks for institutional investors into build-to-rent if the ALP wins the upcoming Federal Election in May.
The Managed Investment Trust withholding tax rate would be cut from 30% to 15% on tax distributions attributable to investments in BTR.
The announcement today of decreased tax rates for institutional investors if focused on affordable housing will see greater investment into the development of build-to-rent properties as part of a burgeoning new domestic asset investment class.
Build-to-rent is already established in the US where it is known as multifamily housing, and its great success has been followed through in the UK.
With house prices still out of reach to many Australians, increased investment into this emerging asset class will see more rental stock available to the market.
PowerHousing Australia met in the past year with the key pension funds, financial and affordable housing providers as well as intermediaries in San Francisco, New York and Washington and the runs are on the board for the past 30 years.
Build to Rent in the U.S supplies up to 10% of all residential housing delivery per year, and is a safe, government backed investment class which has the lowest volatility in a down turn such as the Great Recession which decimated the US housing market a decade ago.
This election announcement follows the recent announcement of the ALP’s NRAS type 10-year scheme which will subsidise investment into new affordable housing and aims to deliver a quarter of a million new dwellings in areas of need.
With each monthly Building Approvals update we see the Australian new home delivery pipeline fall away. Incentivsation through an NRAS 2.0 as promised and this MIT measure would reduce the potential for new housing delivery rates to collapse with rental prices increase to impact affordability.
The increased federal focus on tackling the housing crisis will go a long way to addressing the shortfall in affordable and appropriate housing across the country, and ensure more Australians can be adequately and fairly housed.
Nicholas Proud is CEO of PowerHousing Australia, which represents Tier One and scale-growth community housing providers.
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