International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

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Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

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 OBSERVER
People have been spending more in New South Wales in recent years, followed by Victoria, South Australia, Queensland and Western Australia, according to a new report. And while real household spending has climbed by 14% in NSW between 2009-10 and 2015-16, it only rose by 4% in WA over the same period.
While spending soared, the price of goods also rose over the same period. The consumer price index (CPI) in Sydney rose by 16.4% - again the highest among all capital cities - followed by Melbourne, Brisbane, Perth (15.1%), and Adelaide.
But the preceding six-year period tells a very different story. Between 2003-04 and 2009-10, growth in real household spending spiked at 25% in WA and Queensland, but other population centres experienced much slower spending growth.
These state and territory differences reflect the workings of a “two-speed economy”, where people’s spending levels are more sensitive to the ups and downs of the economic cycle in the resource-rich states of WA and Queensland.
The report compares prices and spending across Australian states and capital cities, drawing on a range of data sources.
<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/2017/12/8/chart1.jpg" alt="">
What drives cost of living in the most and least expensive cities?
There’s also similarly wide disparities in cost-of-living patterns across our major capital cities. Sydney ranks as the most expensive, followed by Melbourne, Brisbane, Adelaide and Perth.
Perth’s ranking jars against the popular perception that it is one of the most expensive cities in Australia.
Sydney’s ranking as the most expensive city is mainly driven by increases in housing and education costs, which have risen by 5.7% and 5%, respectively, between 1995 and 2017.
Housing makes up one-quarter of households’ spending – the dominant share. So it’s no wonder that rises in housing prices in Sydney are so keenly felt.
Price increases have been much slower in Perth relative to other capital cities, in the areas of food and non-alcoholic beverages, transport and communication. Growth in wages has outpaced the growth in prices of goods in WA, more than in any other state and territory over the past 15 years.
Financial stress acute for some in WA
While people in WA might be spending less, there are still segments of the population that are vulnerable to intense cost-of-living pressures.
It’s clear that households in severe financial hardship are having to divert increasing shares of their household budgets to meet housing needs and utility costs. We define households in severe financial hardship as those who have had to seek financial assistance from family, friends or welfare institutions and those that could not eat or heat due to money shortages in the last year. During 2015-16, these households diverted around 39% of their budget to housing alone. This was higher than the 25% typical WA household spend on housing.
In order to spend more on housing, households in severe financial hardship are cutting back on other discretionary spending. These households are trading off transport and health spending to meet housing needs.
We found the cutback on transport spending becomes more prominent over time. During 2015-16, the budget share that stressed households diverted towards transport was only 4%, compared with 11% for a typical WA household.
<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/2017/12/8/chart2.jpg" alt="">
Housing costs comprise an even bigger share for WA households seeking financial counselling (around half), than the broader group of households in severe financial hardship (39%). For households seeking financial counselling, the size of a mortgage is likely to be the reason they are in financial trouble.
WA households seeking financial counselling spend on average well over half (55%) of their weekly budget on housing alone (versus 44% spent by the renters). Housing costs are clearly the largest cost and biggest risk factor for financial hardship, well ahead of food (18%), transport (10%) and utilities (5.5%).
Households who sought financial counselling spend even less of their budget shares on health (3.6%) than the broad group of households in severe financial hardship (4%).
<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/2017/12/8/chart3.jpg" alt="">
Overall, the typical WA household has continued to fare reasonably well in recent years, with incomes rising much faster than living costs. Yet the same is clearly not true for vulnerable groups within our community.
Those on low incomes have struggled in recent years to keep up with the cost of living. The cost of housing has emerged as the greatest single living cost for most Australian households and the most critical factor in the risk of financial hardship, poverty and inequality within our community.
<img src="https://counter.theconversation.com/content/88168/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Policy makers need to tackle the vexed issue of housing affordability if they wish to have an impact on poverty and financial resilience and ensure fewer vulnerable members of our community are left behind.
Rachel Ong, Deputy Director, Bankwest Curtin Economics Centre, Curtin University.
Alan Duncan, Director, Bankwest Curtin Economics Centre and Bankwest Research Chair in Economic Policy, Curtin University.
Chris Twomey, Senior Industry Fellow, Curtin University.
Ken Leong, Researcher, Curtin University.
Silvia Salazar, Research fellow, Curtin University.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/sydney-the-most-expensive-capital-in-australia-perth-comes-in-fifth-new-report-88168" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Sydney the most expensive capital in Australia, Perth comes in fifth: new report

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GUEST OBSERVER
Australian governments have stepped into the market at critical times since the late 19th century to encourage and channel investment in affordable housing. With rising housing stress in Sydney, Melbourne and other areas, the Australian government has now done just that.
On Friday, Assistant Treasurer Michael Sukkar slipped into the National Housing Conference in Sydney to announce a government guarantee on investment in affordable housing.
The announcement went largely unreported, but it was significant. The guarantee is a crucial piece of the affordable housing policy architecture, complementing the “bond aggregator” (or intermediary) mechanism announced in the budget. Treasurer Scott Morrison and Treasury officials have been working on this intermediary, a National Housing Finance and Investment Corporation, over the past 18 months.
These combined measures should create an efficient private investment pathway into social and affordable housing for super funds, insurance companies and other entities hungry for low-risk returns.
The government’s Affordable Housing Working Group outlined this approach, drawing on a number of our reports commissioned through the Australian Housing and Urban Research Institute (AHURI). These assembled powerful evidence from a range of countries of the proven record of government-backed financial intermediaries and debt guarantees in affordable housing finance systems.
Judging from responses to the Treasury consultation paper, the guarantee enjoys strong industry and political support.
This development could also catalyse efforts to build a national housing accord backed by industry, civil society and welfare groups to expand affordable housing for the growing number of Australians in need. A campaign in support of this, Everybody’s Home, was foreshadowed at last week’s conference.
New model based on an old principle
A government guarantee to back bonds issued by the new NHFIC marks a welcome return to the Commonwealth’s former role of actively enabling investment in housing for low and moderate-income households. Historically, this involved reshaping circuits of investment to increase supply, improve quality, deliver better-planned suburbs, ensure returning soldiers were housed, broaden access to home ownership and provide security for households not served by a failing market.
The government support for investment will guarantee access to cost-effective private finance for community housing providers. It will be backed by a secure cash flow from rental income supported by Commonwealth Rent Assistance.
Affordable housing includes not only rental housing geared to income but also below-market-rate rental housing and home ownership. This offers a refuge for households unable to afford housing at market rates.
Coupled with dedicated public funding, the guarantee could turn what has been a trickle of short-term and costly bank debt into a hugely increased flow of longer-term and lower-risk investment.
Why invest in social housing?
Our AHURI-funded international research has found that long-term and patient capital makes an ideal partner for affordable rental housing. Instead of capital gains from sales, the steady cash flows from rent revenue offer secure returns. This is what makes it attractive to pension funds.
Combined with public co-investment and not-for-profit management, secure affordable housing outcomes are more assured.
This investment ultimately saves us all money. Too many Australian households are one step from homelessness, which is devastating for any family. The costs of homelessness to the nation are also huge.
But it’s not just a matter of cost. Homelessness is an affront to the Australian values of compassion and a fair go, often underestimated by political leaders.
Lessons from overseas are clear
The government’s re-engagement with efforts to boost affordable rental housing is in tune with moves in other similar countries.
Just last month Canada released its first national housing strategy, highlighting housing as a human right. The aim is to increase the supply of moderate rent and supportive housing by at least 100,000 homes over 11 years. A National Housing Co-investment Fund will provide A$16.5 billion to repair and expand the affordable housing stock.
Also last month, the UK government announced a new round of debt guarantees for “build to rent” development, alongside A$15.7 billion in direct investment and increased borrowing caps for social housing.
It is true the most effective affordable housing policy levers available to governments are land supply and direct public investment. This was the approach taken in early postwar Australia.
But since the 1990s Australian governments have shown no inclination to re-adopt this model. As an alternative, international best practice combines the most cost-effective long-term investment with strategic public investment in well-regulated not-for-profit landlords.
Finland offers an example. In a country one-fifth the size of Australia, 9,000 social housing dwellings are built each year. This is financed by low-cost government-guaranteed loans via a public intermediary, with interest subsidies and conditional grants to not-for-profit providers.
Finland has the lowest rate of homelessness in Europe. Young Finns leave their parental home and become independent earlier than anywhere else in the European Union. It’s a clever housing system, not based on the luck of the market or family fortune.
Now to tackle the public funding gap
Australian governments have long talked the talk of decent homes for all. But they have struggled to align policy on land development, property taxation and social security accordingly. Our political leaders have simply failed to reform our planning and tax systems to favour affordable housing.
The social housing investment guarantee represents an important return by the Commonwealth to leadership in housing policy and investment. It will bring in a large and willing industry super sector, delivering not only returns for policy holders but also real gains for society at large.
However, enabling more cost-effective private finance can narrow but not eliminate the shortfall in funding for social and affordable housing so that the books balance. As the government’s own advisory body made clear, this policy framework can realise its potential only when government commits the funding needed to bridge this gap.
Julie Lawson, Honorary Associate Professor, RMIT University.
Hal Pawson, Associate Director - City Futures - Urban Policy and Strategy, City Futures Research Centre, Housing Policy and Practice, UNSW.
Vivienne Milligan, Senior Visiting Fellow - City Futures Research Centre, Housing Policy and Practice, UNSW.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/government-guarantee-opens-investment-highway-to-affordable-housing-88549" target="_blank">original article</a>.
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Government guarantee opens investment highway to affordable housing: UNSW

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GUEST OBSERVER
As councils across Australia strive to enhance their liveability, parklets are proving popular among city communities. A poll of 300-plus citizens gathered for the inaugural Perth City Summit in August found parklets are the street activation people would most like to see. But why are they so desirable?
San Francisco is central to the parklet story. In 2005, the design collective Rebar turned a parking space into a “park” for two hours as a comment on the use and control of public space in the city. This was followed in 2006 by the installation of more than 40 temporary parks for PARK(ing) Day, now an annual international event.
By 2010, San Francisco had introduced a policy to help create parklets. This has set an important precedent for parklet policies in Australia and internationally.
There are now more than 50 parklets across San Francisco. According to its Pavements to Parks program, these parklets have “appeared … under the sponsorship of nonprofits, small businesses, neighborhood groups, and others”.
This account conveys a strong sense of democracy and accessibility: anyone can install a parklet in their city, and apparently many do. The Deepistan National Parklet (aka “the Deeplet”), the parklet installed by Deep Jawa outside his home in the Mission District, is a celebrated example.
<a href="https://images.theconversation.com/files/197502/original/file-20171204-5381-1d3jxg5.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/197502/original/file-20171204-5381-1d3jxg5.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Deepistan parklet is a celebrated example created by a community-minded individual. <a href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/ari/9899826405" target="_blank">Steve Rhodes/flickr</a>, <a href="http://creativecommons.org/licenses/by-nc-nd/4.0/" target="_blank">CC BY-NC-ND</a>.
<a href="https://images.theconversation.com/files/197504/original/file-20171204-5392-1i6dzlc.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/197504/original/file-20171204-5392-1i6dzlc.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Source: <a href="https://www.flickr.com/photos/markhogan/6342797343/in/photolist-cSxoUj-oiLKhp-oiLJjn-oyepLE-oiLL5X-oC24uz-oAewcQ-oA4izh-g5Pxxr-g5PmK4-g5PJg9-g5PD1w-cw3iB5-cSxv7d-fik1aM-fAoeeo-cSxqz9-cSxtWW-ae8M3Y-cSxgAW-cSxuv7-cSxkXm-cSxuN5-dh1GEn-dh1GpD-cSxsjY-ayQJn6-cSxsVU-aEuuzV-ayQJjZ-ayQJpB-anPFwN-dpBGWK-aEuuET-as3qhq-arZMWp-dh1GxP-cEDKbu-aaVBBb-arZNr4-arZT1n-UTTLxW-dgSksz-dpBRLC-oAeuHC-ecFQx5-dpBHvp-dpBSn9-aBPZR9-arZNCK" target="_blank">Mark Hogan/flickr</a>, <a href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a> 
The neglected role of business
We hear much less about the businesses behind parklets. Cafes, bakeries, bars and pizza shops have installed almost all of the 50-plus parklets in San Francisco. Deepistan is exceptional not merely for its topiary dinosaur but for its non-commercial nature.
This is not surprising, since the proponent pays for installation and maintenance. And the costs are significant (typically these can be well over A$20,000).
The term “parklet” can be traced to San Francisco (it was coined by City planner Andres Power as a catchier name for Rebar’s proposed “walklet”). But there are many other precedents for the intervention itself.
<a href="https://images.theconversation.com/files/197505/original/file-20171204-5385-pc1w30.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/197505/original/file-20171204-5385-pc1w30.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Rebar’s temporary parklet in 2005, the first of many to show vividly how much space we set aside for private cars. Source: Author provided. 
Perhaps the most obvious, given the strong connection between parklets and cafes, is the long-standing use of footpaths and roadways as restaurant dining areas. The parklet outside Vans Cafe in Cottesloe, for example, was approved under an alfresco dining licence. Converting a parking space into a sitting space is hardly revolutionary.
Yet advocates of parklets rarely make this connection. The story of parklets as entirely new, stemming from Rebar’s DIY park, is far more appealing, suggesting a bottom-up, creative and democratic remaking of the public realm. The link to one of the world’s most innovation-rich cities doesn’t hurt, either.
The reluctance of planners and policymakers to connect parklets to business also reflects concerns about the commercialisation and commodification of the city. The problems of privately owned public spaces (“POPOs” – provided by large developers in exchange for variations to planning rules) are well documented, particularly the issues of high levels of management and surveillance.
Parklets, however, are not privately owned public spaces. Parklets are installed on public land, are temporary and cannot be controlled by the business that installed them. Each bears a sign proclaiming the public nature of the space. Anyone can use parklets, whether they buy something or not.
<img src="https://images.theconversation.com/files/197268/original/file-20171201-30919-17b8dbt.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Parklets are only temporary structures paid for and built by the proposer. SDOT Photos/Flickr
One might critique parklets for their scale, their distribution or their use. They are tiny and do very little to meet important needs for play, exercise or engagement with nature. Some appear a little neglected; many are in areas that are already leafy.
<a href="https://images.theconversation.com/files/197506/original/file-20171204-5420-170vqza.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/197506/original/file-20171204-5420-170vqza.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
San Francisco’s Parklet Manual gives detailed instructions on creating a parklet. <a href="http://pavementtoparks.org/parklets/" target="_blank">City of San Francisco</a>
In San Francisco, some parklets have been rejected for fear they will contribute not to community empowerment but to gentrification.
Why so popular?
So how can we explain the popularity of the parklet? Perhaps because parklets support, and build off, the kinds of places people like – and these aren’t just green spaces.
As US urban activist and writer Jane Jacobs explained so powerfully, cities need more than parks and plazas: commercial activity is a crucial component of public life. Cafes are increasingly important sites for community interaction as other places for local exchange disappear, including banks, post offices, corner delis and newsagents, on top of the local hardware, haberdashery and other specialist shops lost to competition from larger retailers and the digital marketplace. Parklets present some hope for walkable, local commerce.
Or perhaps their popularity has more to do with the lack of options for public participation in shaping the city. Parklets may be led by businesses, but they are local businesses, sometimes supported with public or crowdsourced funds, and parklet policies mean that the spaces cannot be private. Opportunities for participation are often much greater than for the larger public spaces created by professionals. They also show vividly how much space we waste on private cars.
<a href="https://images.theconversation.com/files/197510/original/file-20171204-5406-10zff7z.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/197510/original/file-20171204-5406-10zff7z.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
North Perth’s Angove Street Off-cut Parklet, designed by NOMA. <a href="http://www.nomastudio.com.au/work/15-masterplanning/77-angove-street-offcut-parklet" target="_blank">NOMA</a>, Author provided.
After parklets, the second-most-desired street activation, according to the Perth City Summit poll, was “creative installations”, followed by street events and murals. In comparison, parklets offer a more tangible and accessible option.
Clearly, we can’t rely on businesses alone to provide adequate and appropriate public spaces. The role of local and state governments in providing a high-quality public realm continues to be important. But parklets show that businesses are not all seeking to play the system. As we think about public life, parklets might provide a useful model to build on.
Amelia Thorpe, Senior Lecturer and Director of Environmental Law Programs, UNSW.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/people-love-parklets-and-businesses-can-help-make-them-happen-87172" target="_blank">original article</a>.
Main photo: North Perth’s Angove Street Off-cut Parklet, designed by NOMA. <a href="http://www.nomastudio.com.au/work/15-masterplanning/77-angove-street-offcut-parklet" target="_blank">NOMA</a>, Author provided.
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People love parklets, and businesses can help make them happen: Amelia Thorpe

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Canberra was the weekend's strongest auction capital cities with 75.6% of listings finding buyers.
Brisbane was the weekend weakest capital city sitting at around 44%, according to CoreLogic.
Geelong was the strongest region with a 77.8% auction clearance rate.
Canberra's prices ranged from $385,000 for a two bedroom villa at <a href="https://www.realestate.com.au/sold/property-house-act-melba-126968946" target="_blank">44 Goldner Circuit, Melba</a> (pictured above) to $2.12 million for a three bedroom home at 58 Leichhardt Street, Griffith.
 
<img src="https://www.urban.com.au/images/2017/12/4/capital%20city%20auction%20statistics%20preliminary.png" alt="" width="568" height="271">
<img src="https://www.urban.com.au/images/2017/12/4/Sydney%20sub%20regions.png" alt="" width="561" height="832">
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jonathanchancellor-7SQnKwU6yx

Canberra emerges as summer's strongest capital city property market

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The end of the mining boom has impacted Western Australia’s economy, but the resulting affordability has brought in more first time buyers who are injecting life into the state’s property market.
There are more first time buyers (FTBs) as a proportion of total buyers in WA than anywhere else in the country, reveals a new report from Bankwest.
It has been fuelled by a drop in house prices and the attraction of buying rather than renting. 
The 2017 Bankwest First Time Buyers Report shows WA FTBs made 21.7% of all purchases in the year to June 2017 – the highest proportion in the country. 
More recent ABS data (which falls out of the report’s catchment period) shows further growth of 5.1% in the three months to August 2017 – making a total of 15,849 first time purchases in the year to August 2017. 
First time buyers also need less time to get their foot on the housing ladder – the only mainland state to experience such a decrease. 
The average WA FTB has dropped to 3.6 years to save the necessary $94,651 for a 20% deposit, down from 3.8 years last year, says the report.
<a href="https://www.propertyobserver.com.au/images/2017/12/1/WAFHBMostTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/WAFHBMostTime.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/12/1/WAFHBLeastTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/WAFHBLeastTime.png" alt="">
Bankwest general manager personal and small business banking, Donna Dalby said WA’s first time buyers are taking advantage of a number of factors at play. 
“The main reason for this shorter savings time is the fact that house prices declined by 4.5% in the state, the largest decline nationwide. Even though wages only grew by 1.4% during the same period the effect is tangible,” she added. 
The drop in prices has also had a knock-on effect on how much people in WA are having to borrow to buy their first home. Western Australia was the only state in mainland Australia to see the average loan size for FTB couples decline (by 4.2%) in the year to June 2017. 
Perth remains one of Australia’s most accessible capital cities for FTBs, taking the average WA FTB couple just 3.9 years to save the $103,046 deposit required on their first house (three months less than in 2016 (4.2 years) and one whole year below the capital city average of 4.9 years). 
“Perth and Darwin as cities buck the national trend, being the two places where the saving times for first time buyers has dropped year on year. Perth’s house prices have dropped by 4.3% which means the saving time to get the 20% deposit of $103,046 (down $4,627 from 2016) has dropped by three months to 3.9 years,” said Dalby. 
The report also shows that Perth FTB couples could do well to consider opting for a unit rather than a house as a first home. The average saving time for a unit across Australia is 4.2 years, five months less than the saving time for a house.
In Perth the saving time for a unit is 3.2 years, down from 3.5 years in 2016, the biggest drop of any city in the country.
On a state level it now takes just 3.1 years for a WA FTB couple to save a $80,283 deposit on their first unit, three months less than in 2016, a reduction driven by unit prices declining by 7.4% in WA in the year to June 2017. 
“Everyone dreams of having their own house but medium and high density housing is on the increase across the country and can offer a noticeably quicker route to home ownership than aiming at a house purchase,” said Donna.
And while units can offer a quicker route to a first home, those in no hurry could look to try to buy in Perth’s Peppermint Grove, the local government area (LGA) with the longest savings time in the whole nation.
The salubrious suburb takes this unenviable title with a saving time of 21.2 years to save the $672,944 deposit need to put down a deposit (down from 21.7 years a year ago).
At the other end of the scale the LGA of Dundas in south eastern WA is the area with the shortest saving time – just 0.7 years are needed to save the necessary 20 per cent deposit of $16,346.
A three-bedroom house at <a href="https://www.realestate.com.au/property-house-wa-coolgardie-126665970" target="_blank">64 King Street, Coolgardie</a> (picture above) is on the market for $119,000, indicating the affordability of the region.
A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-wa-coolgardie-126395130" target="_blank">4/37 Sylvester Street, Coolgardie</a> (pictured below) sold recently for $62,500.
<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/2017/12/1/Coolgardie2.jpg" alt=""> 
 
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Lower property prices help WA first time buyers to housing ladder: Bankwest 

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CoreLogic's September quarter regional area insights has once again confirmed The Illawarra region in New South Wales as the country’s standout regional performer by recording the largest annual increase in home values of 13.0 per cent for houses and 17.0 per cent for units.  
In contrast, Townsville stood as the only region where values for both houses and units fell over the year to September.  Based on overall transaction activity, the Gold Coast region experienced the biggest fall with dwelling sales down -8.7 per cent over the year to August 2017.    For rental rates, the Gold Coast saw the largest increase in advertised rental rates for houses, up 6.0 per cent ($30/week) over the year to September 2017, followed by Richmond-Tweed houses at 5.6 per cent ($25/week). Townsville and Bunbury were the only two regions to see rental rates fall over the 12 months to September 2017. 
<h3>New South Wales </h3>
<ul>
<li>Of the three regions analysed for this report (Newcastle and Lake Macquarie, Illawarra and Richmond-Tweed), all experienced home values growth over the year to September 2017; the largest increase was within the Illawarra region, where house and unit values increased by 13.0 per cent and 17.0 per cent respectively, followed by Newcastle and Lake Macquarie.  </li>
<li>In terms of sales activity for the three NSW regions, volumes fall over the year to August 2017 with The Illawarra region experiencing the biggest fall in sales activity with transactions down -5.4 per cent, or 323 fewer homes selling when compared to August 2016. Rental rates increased across all three regions.  </li>
<li>Houses in the Richmond-Tweed region saw the largest increase with rental rates up 5.6 per cent, followed by houses in the Newcastle and Lake Macquarie region (5.0 per cent).  </li>
</ul>
<h3>Queensland </h3>
<ul>
<li> Dwelling sales fell in four of the five regions over the year to August 2017 with the largest fall seen across the Gold Coast, where sales volumes are down -8.7 per cent, followed by Townsville (-6.3 per cent), Cairns (-5.3 per cent) and the Sunshine Coast (2.6 per cent). Across the Wide Bay, sales are in line with one year ago.  </li>
<li>Townsville was the only region to see home values fall, while the Sunshine Coast region saw the largest increase in house values (7.1 per cent), and the Gold Coast region saw the largest increase in unit values (6.9 per cent) values.  </li>
<li> Across the Queensland rental market, the Gold Coast region recorded the largest increase in rental rates for houses (6.0 per cent), while Townsville saw rental rates fall over the year.  </li>
</ul>
<h3>Victoria</h3>
<ul>
<li>Sales activity was down -1.9 per cent across Geelong, while the Latrobe-Gippsland region saw a slight increase (1.8 per cent) in the amount of homes transacting over the year to August. Both regions saw home values increase over the 12 months to September, with values increasing by 8.8 per cent for houses and 6.1 per cent for units in Geelong, compared to the Latrobe-Gippsland region, where house and unit values increased by 4.8 per cent and 1.9 per cent respectively.  </li>
</ul>
<h3>Western Australia </h3>
<ul>
<li>Bunbury region saw house values increase by 2.6 per cent over the year to September 2017, while unit values fell -4.4 per cent. Sales volumes across the region fell -3.9 per cent over the 12 months to August, with current activity -14 per cent below the five year average. Rental rates in the Bunbury region fell -3.6 per cent for houses and -9.1 per cent for units when compared to September 2016. </li>
</ul>
  Across all three quarters in 2017 (March, June and September) The Illawarra region has consistently recorded the largest annual increase in home values each quarter, followed by the Newcastle &amp; Lake Macquarie and Richmond-Tweed regions.     Cairns has seen minimal movement in home values, while Townsville has recorded a negative annual increase in home values each of the quarters. Townsville and Bunbury were the only regions to see rental rates fall over the 12 months to March, June and September for both houses and units, while Wide Bay units remained unchanged over the same period.    Overall, our latest data points to an increase of value growth in regional markets, particularly those which are located adjacent to capital cities. As people are priced out of certain capital cities, buyers now appear to be looking to these adjacent regions.
Home owners in Sydney and Melbourne have seen a substantial rise in housing equity over recent years. Subsequently, we are seeing some evidence that these buyers are starting to look for holiday and investment properties in certain regional markets which is also providing an impetus for some of the value growth we are currently seeing. 
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Townsville the weakest region for both house and unit prices: CoreLogic

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Ballarat estate agency Gull and Company has been reprimanded and penalised $5,000 by the Victorian Civil and Administrative Tribunal (VCAT) for operating without a licence during 2015. 
The company operated without a licence between 27 August and 19 October of that year, during which time it carried out estate agent functions. 
In June and August of 2015, the Business Licencing Authority (BLA) emailed Gull and Company, reminding it to lodge its annual statement and pay the required fee, which the company did not do within the required time. As a result, Gull and Company’s licence was automatically cancelled. 
The company initially claimed that it had not received the second email, and was therefore not given sufficient notice of its annual statement and payment obligations, as required under the Estate Agents Act 1980. 
Prior to the VCAT hearing, Gull and Company arranged for a forensic examination of an old computer server, which showed that the company had received the second email.
As well as the penalty and reprimand, Gull and Company must also: 
<ul>
<li>advise vendors that it acted for while unlicensed that, among other things, it was not a licensed estate agent at the time </li>
<li>establish a system to ensure that it lodges its annual statements and pays the required fees on time. </li>
</ul>
Gull and Company applied to the BLA for a new licence, which was granted on 20 October 2015.  
The $5,000 penalty must be paid into the Victorian Property Fund. 
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Ballarat estate agency cops fine after licensing mixup

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AMP Capital has received Stage 2 Development Application (DA) approval to refurbish Sydney’s first skyscraper, 33 Alfred Street, Circular Quay, from the City of Sydney.
Built in 1962, 33 Alfred Street has local heritage listing and is an iconic part of Sydney’s harbour skyline.  
The work, which is due to start in 2021, will include refreshing the building’s façade as well as modernising its services and interior while maintaining its heritage characteristics and reinstating lost building features. 
Once complete, the building will be premium grade, with improved environmental performance. The Alfred Street building is targeting a 5 Star NABERS rating and a 5 Star Green Star v3 rating.
AMP Capital real estate chief operating officer Louise Mason spoke on the redevelopment approval.
“We are delighted to have received approval for the redevelopment of 33 Alfred Street from the City of Sydney, who we have consulted with on this project for more than two years.  After 55 years, it’s time to upgrade the building and give it new life for many more decades of service. 
“This work will make 33 Alfred Street one of Sydney’s most highly sought-after, premium-grade office buildings.  However, it will still be recognisable as one of the most loved and distinctive buildings at Circular Quay, the gateway to Sydney.” 
AMP Capital has been advised by architect JPW.  33 Alfred Street is jointly owned by investors in the AMP Capital Diversified Property Fund and the AMP Capital Wholesale Office Fund.
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AMP Capital receives go ahead to revitalise historic 33 Alfred Street, Sydney

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Pfizer Australia, one of the world's leading biopharmaceutical companies, is relocating its Australian office into a new building in the heart of the Sydney CBD. 
The building - Barrack Place, at 151 Clarence St, will be one of the most advanced buildings in its class in Sydney when it is finished in 2018.
Pfizer will occupy the top four floors of this new prestigious building in an emerging entrepreneurial and innovation hub. The immediate business precinct is where many innovative businesses have set up such as Atlassian and Apple.
Melissa McGregor, managing director of Pfizer Australia said the company are proud of their manufacturing legacy at their West Ryde site over the past 60 years.
“Locating Pfizer Australia in this burgeoning business precinct - in the heart of the Sydney CBD - positions us strongly for the next 60 years. We are making a deliberate move to be at the cross section of society – businesses, Government, customers, and the general community all intersect in the Sydney CBD. 
“We will be part of the innovation and creativity that surrounds the area. In part because of the location, we will continue to attract vibrant and talented people to work at Pfizer Australia, as we have done for many years.”
<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/2017/12/8/pfizer.jpg" alt="">
Pfizer is delivering on its sustainability responsibilities by getting 400 single- occupancy cars off the road every business day.
The building is currently under construction and is being built to world-class standards in terms of amenities, energy rating and environmental sustainability.
“As it’s a new building, we have the opportunity to design, shape and construct our internal workspace to our exacting and unique specifications. As you can appreciate, such opportunities are rare – particularly in this exciting location,” McGregor said.
Pfizer Australia plans to move its employees by December 2018 when building works are completed. Pfizer was assisted by Pepper Property for its Sydney office search.
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Pfizer Australia to relocate to a state of the art CBD location in 2018

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A family home in Edmonton near Cairns has been listed for sale by the mortgagee in possession.
The <a href="https://www.realestate.com.au/property-house-qld-edmonton-127134422" target="_blank">1995 built home</a> on 940 sqm last traded for $350,000 in 2014.
It has three bedrooms, two bathrooms and a swimming pool.
Ray white Cairns South agent Therese Plath is marketing the home for a January 20 auction.
 
 
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