<p>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.</p>

<p>The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=185853]</p>

<p>Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.</p>

<p>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.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=374280]</p>

<p>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.</p>

<p>McMahon said the pricing strategy was a deliberate response to the current market.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=106566 project_image_fid=362498]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=106566]</p>


Joel Robinson

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

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366473]</p>

<p><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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366474]</p>

<p>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.</p>

<p>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.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=374378]</p>

<p>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.</p>

<p>Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=140818 project_image_fid=366480]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.</p>

<p>"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."</p>

<p>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.</p>

<p>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.</p>

<p>Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>[smartcode_project_cta:default project_id=140818]</p>


Lowe Living set new Melbourne off the plan apartment record

<p data-end="481" data-start="254">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.</p>

<p data-end="817" data-start="483">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.</p>

<p data-end="954" data-start="819">Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.</p>

<p data-end="1151" data-start="956">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.</p>

<p data-end="1277" data-start="1153">"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.</p>

<p data-end="1510" data-start="1279">"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."</p>

<p data-end="1618" data-start="1512">Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.</p>

<p data-end="2038" data-start="1620">"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."</p>

<p data-end="2295" data-start="2040">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.</p>

<p data-end="2474" data-start="2297">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.</p>

<p data-end="2837" data-start="2476">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.</p>

<p data-end="2909" data-start="2839">[smartcode_project:default project_id=149594 project_image_fid=362614]</p>

<p data-end="3074" data-start="2911">While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.</p>

<p data-end="3307" data-start="3076">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.</p>

<p data-end="3543" data-start="3309">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.</p>

<p data-end="3821" data-start="3545">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.</p>

<p data-end="3893" data-start="3823">[smartcode_project:default project_id=149594 project_image_fid=362633]</p>

<p data-end="4682" data-start="4522">"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.</p>

<p data-end="5037" data-start="4684">"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."</p>

<p data-end="5037" data-start="4684">Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.</p>

<p data-end="5088" data-start="5039">[smartcode_project_cta:default project_id=149594]</p>


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

<p>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.</p>

<p>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.</p>

<p>The towers will rise above the iconic Breakfast Creek Hotel.</p>

<p>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.”</p>

<p><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" /></p>

<p>Kennon describes the project as a once-in-a-generation opportunity.</p>

<p>"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.</p>

<p>"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."</p>

<p><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" /></p>

<p>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.</p>

<p>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;</p>

<p>There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.</p>

<p><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" /></p>

<p>&nbsp;</p>

<p>Frank Developments has increasingly focused on design-led residential projects across South East Queensland.</p>

<p>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>.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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_" /></p>

<p>The design report identifies the public realm as a central driver of the proposal.</p>

<p>"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."</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>"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."</p>

<p>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.</p>


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

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

<p>For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.</p>

<p>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.</p>

<p>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.</p>

<p>The biggest takeaway is that inflation continues to move in the right direction.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>That trend is important because it aligns with what many economists and lenders have been saying for the last month.</p>

<p>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.</p>

<p>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".</p>

<p>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.</p>

<p>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.</p>

<p>Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


The inflation result the property market was waiting for

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<p>GUEST OBSERVER</p>
<p>Two social trends that pose imminent challenges – and require policy responses – to sustainable futures in our cities are the rise of single-person households and homelessness.</p>
<p>One in four Australians live alone, either voluntarily or circumstantially. The ageing population is one factor. The rise of younger people choosing to live alone is another, and it’s historically and distinctively a new phenomenon.</p>
<p>The number of pension-aged people living alone has grown because that population itself has increased. However, the number of younger people living alone has grown in proportion to multi-adult households of working age in Australia and across the globe. We still have very limited understanding of this latter group.</p>
<p>The proportion of single-person households is expected to grow to 30-40% or more of households in most developed countries, including Australia, by 2030. At the same time, more people are dying alone.</p>
<p>Evidence suggests that these trends have significant health, sociocultural, economic and environmental implications. Japan, where these trends are further advanced, is already having to deal with these.</p>
<p><strong>Lessons from Japan</strong></p>
<p><em>Kodokushi</em> (lonely death), <em>genkai shuraku</em> (village on the edge of extinction) and <em>chihotoshi shometsu</em> (the disappearance of regional towns) are major problems in Japan today. New services are emerging in Japan to cater to the needs of people who live alone. For example, one service plans and carries out the cleaning of someone’s home should they die alone.</p>
<p>For this reason, Japan is referred to as <em>kadai senshin koku</em> (frontier in solving global problems). Australia will soon need to face these problems too.</p>
<p>Digital and networked technologies, especially artificial intelligence and robots, are being explored as support mechanisms in homes, care homes and hospitals. Increasingly, though, the crucial role of human creativity and connection in care is becoming evident.</p>
<p>In neighbouring South Korea, cultural trends like <em>mukbang</em> (eat-casting) are said to have their origins in “the loneliness of unmarried or uncoupled Koreans, in addition to the inherently social aspect of eating in Korea”.</p>
<p>In this case, technologies are being used even to jeopardise people’s health, as individual “BJs” (Broadcasting Jockeys) are paid to broadcast themselves eating – often excessively – while interacting with their audience. Many of them are also eating alone while watching the show.</p>
<p>Problems associated with living alone will have an even more damaging impact on those without homes. In Australia, one in 200 people are homeless. Most of them are people under 35 or, increasingly, women over 55.</p>
<p>We must acknowledge the diversity of the homeless population, and the different factors that cause and sustain the experiences of living alone or being homeless. Such diversity will increase with the growing number of single-person households, income inequality, broader participation in the gig economy, and loss of jobs to automation.</p>
<p><strong>What role for government?</strong></p>
<p>Policy and regulatory measures to decrease housing prices will help. Australia ranks high for unaffordable housing among OECD nations.</p>
<p>The government could also play a central role in enabling collaboration among diverse stakeholders to seek new ways of creating and applying knowledge. This could be used to ask and answer difficult questions about even some of the most widely accepted concepts, like what is “home” for those living alone and homeless.</p>
<p>The answers should then guide us as we create data, tools and systems for care and with care.</p>
<p>It will be critical to ensure the focus is not predominantly driven by a technocentric vision. We need to consider the sociocultural implications that existing and often celebrated technocratic discourses – around smart cities, for instance – might have.</p>
<p>To avoid a technocratically determined fate, we must develop diverse and enduring narratives of Australian cities. This requires what this year’s Boyer lecturer, Genevieve Bell, might call a “bolshie” move. Part of that could involve bringing together interests and capacities across the public, private, community and research sectors to place urban futures as a key intellectual and social agenda.</p>
<p>We need comprehensive, transdisciplinary research and development for short to long-term goals. This must include ambitious innovation in research and practice, supported by new and emerging technologies, but most importantly, creative engagements beyond the usual suspects. This cannot be gesticulatory “co-design” workshops that are exclusive to certain participants.</p>
<p>Instead, we need inclusive engagement to produce new kinds of knowledge relevant to complex present and future urban conditions.</p>
<p>The Australian government’s role in the future development of cities should not be about cleaning up the technological hubris or proliferation of “feral” technologies that we’re generating. Rather, it should be about building individual and communities’ capacity to question and co-create “the wisdom or propriety of a particular developmental direction” of Australian cities.</p>
<p><em>This article draws on the author’s submission to the <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/ITC/DevelopmentofCities" target="_blank">parliamentary inquiry into the Australian government’s role in the development of cities</a>.</em></p>
<p><em><strong>Jaz Hee-jeong Choi </strong>is senior lecturer in design at Queensland University of Technology</em></p>
<p><em>This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/we-are-living-alone-together-in-todays-cities-and-that-calls-for-smart-and-bolshie-moves-85318" target="_blank">original article</a>.</em></p>
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j.ballantyne1990-6AQqhLzZaK

We are living alone together in today's cities: Jaz Hee-jeong Choi

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<p>GUEST OBSERVER</p>
<p>On 11 September 2017, the NSW Court of Appeal entered final orders allowing the appeal of a District Court judgment that had found against a managing agent of a residential property, in favour of its owners and tenant, as to liability to various people injured when the property's balcony collapsed.</p>
<p>The decision confirms that:</p>
<ul>
<li>appointing a managing agent to manage residential rental premises will not necessarily be a defence to a claim for personal injury damages;</li>
<li>an entitlement to a contractual indemnity may be reduced by reason of that party's contributory negligence;</li>
<li>a tenant who is on notice of a risk of harm may be found liable to lawful entrants if there are measures the tenant could have taken to remove the risk; and</li>
<li>section 5B(1) of the <em><span>Civil Liability Act 2002</span></em> (NSW) requires accurate identification of the actual risk of harm faced by a plaintiff.</li>
</ul>
<p><strong>Background</strong></p>
<p>Deepak Bhide and Alka Bhide (the owners) owned residential property at Collaroy, NSW (the property). In 2005, they appointed Libra Collaroy Pty Ltd (the agent) to manage that property pursuant to an Exclusive Management Agency Agreement (Residential) (MAA). There was a long history of complaints regarding the state and structural integrity of the balcony from the tenant of the property, Joanne Gillies (the tenant), who also happened to be an architect.</p>
<p>On 15 June 2012, a group of school friends were gathered on the balcony at the property. The balcony collapsed.</p>
<p>Four of the people injured in the collapse commenced proceedings in the District Court of NSW against the owners and the agent. The tenant was the mother of one of the victims. She was not home when the balcony collapsed, but she also sued the owners and the agent for nervous shock.</p>
<p>The agent and owners issued cross claims against each other seeking an indemnity from the other, firstly, as joint tortfeasors pursuant to section 5(1)(c) of the <em><span>Law Reform (Miscellaneous Provisions) Act 1965</span></em> (NSW) and, secondly, pursuant to a contractual indemnity clause in the MAA.</p>
<p>The owners and the agent also issued cross claims on the tenant for her failure to lock access to the balcony in circumstances where she was fully aware of the potential risk of harm, as she had made multiple complaints to the agent that the balcony was not structurally sound.</p>
<p><strong>First Instance decision</strong></p>
<p>On 29 September 2015, a liability trial took place before Judge Curtis of the District Court. On the last day of trial, his Honour delivered an <em><span>ex tempore</span></em> judgment, finding that:</p>
<ul>
<li>the agent was 100% liable to the plaintiffs;</li>
<li>the owners discharged their duty of care as owner to the plaintiffs by delegating the management of the property to the agent; and</li>
<li>the tenant did not breach any duty of care she owed to any of the plaintiffs.</li>
</ul>
<p>His Honour found that the cause of the balcony collapse was, in essence, a deterioration of steel bolts caused by weather and poor maintenance. The agent had obtained and passed on various quotes for repairs to the balcony to the owners, who had rejected them. His Honour found that the agent should have gone further than simply passing on the quotes and should have instead specifically recommended that the owners obtain expert advice to assess the structural integrity of the balcony.</p>
<p>His Honour also found that the owners were not liable to the plaintiffs in tort because they had discharged their duty owed to the plaintiffs by appointing a managing agent to manage the property.</p>
<p>His Honour further found that the tenant had discharged her obligations owed to the plaintiffs by complaining to the agent about that the balcony was not structurally sound.</p>
<p>The agent appealed.</p>
<p><strong>Appeal</strong></p>
<p>On appeal, the agent did not challenge the finding that it was liable, but instead challenged the findings that the owners and the tenant were not liable to the plaintiffs.</p>
<p>The agent also challenged the decision on the ground that Judge Curtis had failed to consider and apply section 5B of the <em><span>Civil Liability Act</span></em>, in not identifying the precise foreseeable risk of harm, which, in this case, was the risk of injury to people due to the failure to properly investigate and maintain the structural integrity of the balcony.</p>
<p>The Court of Appeal found that:</p>
<ul>
<li>Judge Curtis had erred in failing identify the relevant risk of harm and whether the owners and/or the tenant knew, or ought to have known, of the risk as required by section 5B of the <em><span>Civil Liability Act</span></em>. Accurate identification of the risk is necessary to determine what constitutes a reasonable response to the risk;</li>
<li>a reasonable person in the position of the owners should have formed the view that the agent had not properly discharged its duty and that they should have expressly instructed the agent to engage an expert to investigate the structural integrity of the balcony. The owners could not rely on their delegation to the agent in answer to their alleged breach of duty;</li>
<li>the owners succeeded in their claim for a contractual indemnity from the agent, but the entitlement to a contractual indemnity should be reduced by 30% by reason of their contributory negligence pursuant to section 9 of the <em><span>Law Reform (Miscellaneous Provisions) Act</span></em> in failing to expressly instruct the agent to engage a suitable expert to investigate the structural integrity of the balcony;</li>
<li>the tenant was liable to contribute 20% to the agent's liability to the plaintiffs by reason of her failure to lock access to the balcony in circumstances where she knew about potential structural issues; and</li>
<li>apportionment of liability between the agent, owners and tenant should be 50%, 30% and 20%, respectively.</li>
</ul>
<p><strong>Final Orders</strong></p>
<p>On 11 September 2017 the Court of Appeal made orders giving effect to its reasons, which, in addition to setting aside various orders made by Judge Curtis, were essentially:</p>
<ul>
<li>Judgment for the plaintiffs against the owners.</li>
<li>Judgment for the owners against the agent.</li>
<li>Any damages recovered by the owners from the agent to be reduced by 30%.</li>
<li>Judgment for the agent against the tenant.</li>
<li>The tenant is to contribute 20% to the agent's liability to each of the plaintiffs.</li>
<li>The owners and the tenant to pay the agent's appeal costs.</li>
<li>The agent and the owners to each bear their own costs of their cross claims in the District Court.</li>
<li>The tenant to pay the agent's cross claim costs in the District Court.</li>
<li>The agent, owners and tenant are to respectively pay 50%, 30% and 20% of the plaintiffs' costs.</li>
</ul>
<p><strong>Implications</strong></p>
<p>If a party is entitled to be indemnified pursuant to a contractual indemnity clause, the amount of indemnity can be reduced by operation of section 9 of the <em><span>Law Reform (Miscellaneous Provisions) Act</span></em>.</p>
<p>In claims against real estate agents and property owners by injured plaintiffs, a tenant may bear some responsibility if they did not act as a reasonable tenant to avoid a risk of injury, if measures were available to them to prevent the risk of harm. Presumably, a tenant will always know about the risk; they will usually be the source of the complaint. Whether they can take steps to prevent the harm occurring will depend on what is required. In this case, the Court found the tenant could have simply locked the door, blocking access to the balcony.</p>
<p><em>Gilchrist Connell acted for the successful agent.</em></p>
<p><em><strong>Paul Kozub</strong> is principal at Gilchrist Connell (Sydney) and <strong>Catherine Hing</strong> senior counsel at Gilchrist Connell (Sydney).</em></p>
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Shared blame in the collapsed Collaroy balcony court decision: Gilchrist Connell

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<p>GUEST OBSERVER</p>
<p>As the saying goes: </p>
<ul>
<li>there are the things that you know; </li>
<li>the things that you know that you don’t know (the known unknown); and </li>
<li>the things that you don’t know that you don’t know (the unknown unknown). </li>
</ul>
<p>The recent Grenfell Tower fire tragedy in London highlights the potential catastrophic consequences of failing to find out the unknown unknown things and/or failing to take action to appropriately deal with the necessary things once known, such as the condition and performance standards of the materials in the building along with the necessary maintenance obligations of the body corporate.</p>
<p>There has been considerable media attention around the widespread existence of non-conforming building materials and potential devastating ramifications for bodies corporate. This article is aimed at the practical and proactive steps which bodies corporate can take to empower themselves and protect their lot owners and residents.</p>
<p>It is certainly true that the effective maintenance of strata title buildings is a complex affair. The contracts for the construction of the buildings on scheme land are entered into between the developer and the builder, long before the lot owners are ever in the picture. This means that; the lot owners have no input into the selection of materials or the standards of construction, and they are often unaware of the location of essential documents for the proper administration of their schemes, including construction contracts, plans and specifications.</p>
<p>This means that the body corporate and lot owners inherit the building with often unknown building materials; unknown latent conditions and they are unaware of the maintenance requirements for their particular building. This also has a direct effect on effectively budgeting for the future expenditure to properly maintain the building in order to maximise its effective lifespan.</p>
<p>Add to this the fact that there is a high amount of change within bodies corporate, which exacerbates the difficulty in managing vital information about the building. Lot owners sell, body corporate managers can change from year to year, resident managers can sell their management rights and committees often change each year. What this means is that the collective knowledge of all of the people who have been involved in the building is rarely centralised and as a result, key information and documentation is often misplaced along the way or is never obtained in the first place.</p>
<p>We recommend that bodies corporate take control of their information and documentation by implementing a building management document or plan. By the committee working in with the body corporate manager to create a bespoke plan for the operation and management of their building, bodies corporate will be able to identify what they know, what are the known unknown things about the building, and what unknown unknown things about their building (which are generally discovered by expert reports and professional advice). Additionally, this information is to be documented and centralised so that the body corporate does not lose this information as lot owners, body corporate managers, resident managers and committees change over time.</p>
<p>As part of the process of creating the building management plan, it is essential for bodies corporate to know the current (point-in-time) status of their building and documentation. For this reason, we highly recommend engagement of an expert, or team of experts, to enable the body corporate to “catch up” on the history of their building by obtaining all necessary documentation and obtain a status report as to the condition of their building as at today. This information and documentation can then be included in the building management plan and future obligations and expenditure for the building can be informed by this information. Additionally, all new occurrences at the building can be recorded in the building management plan as time goes on so that committees have the information which the need to effectively act on behalf of the body corporate to make decisions within their authority and to properly inform the lot owners in order for them to make effective decisions at general meetings.</p>
<p>Building condition and maintenance is only one of the many things which we recommend is included in an effective building management plan. If bodies corporate know what they know, know what they don’t know, and find out the unknown unknown things, then they are in a much greater position to plan for and make effective decisions on all matters which can have an effect on their building.</p>
<p>Hopefully, such an approach can enable bodies corporate to minimise or prevent financial and physical disasters.</p>
<p><em><strong>James Nickless</strong> is partner of <a href="https://www.clarkekann.com.au/newsroom/combustible-cladding-audit?utm_source=Mondaq&amp;utm_medium=syndication&amp;utm_campaign=View-Original" target="_blank">ClarkeKann Lawyers</a>. </em></p>
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Combustible cladding is just one of many essential building owners issues: CK Lawyers

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<p>A two-level Victorian offering with potential for further development in Richmond on Melbourne CBD’s eastern fringe is set to go under the hammer on November 1 with price expectations of more than $2.25 million.</p>
<p>Located at <a href="https://www.realcommercial.com.au/property-offices-vic-richmond-502581762" target="_blank">121 Burnley Street</a>, the property boasts an address in one of Melbourne’s most popular restaurant, fashion and entertainment precincts.</p>
<p>The building includes a reception area, conference room, eight individual offices, kitchen facilities and toilets on the ground floor, and a large boardroom, kitchen, balcony and three individual offices upstairs.</p>
<p>The 439 sqm site, zoned Industrial 3, has frontage to Burnley Street and rear access via North Street.</p>
<p>The marketing is by Teska Carson’s Luke Bisset and Michael Taylor along with Jeffrey Richardson of Richardson French.</p>
<p>According to the agents, the property will be offered with vacant possession and provides an opportunity to invest in arguably Melbourne’s premier inner-eastern property market. </p>
<p>Bisset said the area had benefitted from a number of high profile residential and commercial developments, driven by population growth and the attraction of Richmond’s well documented retail and entertainment offerings, as well as its proximity to the CBD.</p>
<p>“It is ideally suited to an investor or owner-occupier seeking a well-presented commercial property in a great location with the benefit of the potential for further development (STCA) and the prospect of capital growth,’’ Bisset said.</p>
<p>Strong enquiry is expected for the property.</p>
<p>“Property in this precinct is very popular with investors and that popularity has intensified in recent times as the purchaser market has expanded to include SMSFs and foreign investors as well as the traditional smaller investor. And of course owner-occupiers have been much more prominent due to the favorable borrowing rates,” Richardson said.</p>
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Victorian building in Richmond set for auction with $2.25 million expectations

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
<p><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/2017/10/26/Total.jpg" alt=""></p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
<p><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/2017/10/26/NSW.jpg" alt=""></p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
<p><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/2017/10/26/Tas.jpg" alt=""></p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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Dwelling construction surges yet housing turnover falls

<html><body><p>More property investors are choosing to use mortgage brokers to secure finance, the third annual Property Investment Professionals of Australia (PIPA) Property Investor Sentiment Survey has found in the face of tighter lending conditions.<br> <br>The national survey, which gathered insights from 742 property investors, found that 73 per cent of investors used the services of a mortgage broker to secure their most recent loan – up significantly from 65 per cent two years before.<br> <br>And in the next 12 months, 83 per cent of investors intend to finance their next loan through a broker – up from 71 per cent last year.<br><br>By far most investors (68 per cent) think it is unfair they have to pay higher interest rates compared to owner occupiers, the results showed.<br> <br>Yet, despite the changes in lending serviceability over the past two years, the largest proportion of investors (38 per cent) report no difficulty refinancing, although a significant minority (28 per cent) aren’t sure, and 22 per cent said they are having difficulty refinancing.<br> <br>Given lenders are charging higher interest rates for interest-only loans, 30 per cent of investors said they either have switched or intend to switch to principal and interest repayments, however an even bigger proportion (36 per cent) said they have no plans to switch.<br> <br>PIPA chair Ben Kingsley said that the survey results confirmed that sophisticated investors were prepared to use professionals to help their grow their portfolios.<br> <br>"The restrictive lending environment for investors across the nation may have removed some of the speculation out of the market, but is also preventing some sophisticated investors from investing in their financial futures as well as adding to the supply of rental properties," Mr Kingsley said. <br> <br>"Our survey results show that rather than be defeated, educated property investors are opting to use professionals to assist them to achieve their goals – regardless of the lending environment."</p></body></html>

Mortgage brokers increasingly sought out by property investors: PIPA survey

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<p>A two level North Adelaide heritage building has been listed for sale at $2.6 million.</p>
<p>Located at <a href="https://www.realcommercial.com.au/property-retail-sa-north+adelaide-502474278" target="_blank">107-109 O’Connell Street</a>, the 528 sqm property previously operated as a bar named ‘The Banque’.</p>
<p>It features front, side and rear balconies and is ideal for café, retail, offices and possible upstairs residence.</p>
<p>There are also seven spacious rooms available with off-street car parking. It last traded in 2006 at $1.65 million, and at $1.1 million in 2001.</p>
<p>It is offered through McGees Property agents Simon Lambert and Rory Butterworth.</p>
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North Adelaide heritage retail building listed for sale

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<p>A historic mansion that is currently run as a restaurant and bar in the Victoria’s Bellarine Peninsula is on the market.</p>
<p>The <a href="https://www.realestate.com.au/property-house-vic-queenscliff-126546886" target="_blank">34-38 King Street</a> property is one of Queenscliff’s iconic buildings and has a $5 million to $5.5 million price guide. </p>
<p>It previously sold for $2.2 million in 2013, CoreLogic RP Data shows.</p>
<p>According to its description, in 1854, William Leigh, one of Queenscliff's first residents, planned to build the first considerably sized hotel in the region. </p>
<p>Originally made of fine grade timbers, the first election for the newly established Borough of Queenscliff was held within its walls in 1863 before being destroyed by fire the following decade. The Royal Hotel as we know it today was rebuilt, this time even larger and grander, in the early 1880s.</p>
<p>The Royal Hotel was rechristened Hotel Q after owners Katalin and Stephen Blond went in for a “full-on restoration”, according to the Geelong Advertiser.</p>
<p><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/2017/10/24/RoyalHotel2.jpg" alt=""></p>
<p>Currently used as a restaurant and bar, the ground floor offers a flexible floorplan with multiple zones that can be self-contained for either commercial or residential use. </p>
<p>The beach house is suitable for various uses. It can be divided into two mansions with separate entrances, transformed into luxury seaside apartments, or used as a restaurant, bar or wedding venue subject to council approval. </p>
<p>Zoned Residential One, there is the option of developing another building or apartments subject to council approval. </p>
<p>The selling agents were James Gladman and Lee Botsios of Fletchers.</p>
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Queenscliff's iconic 'Hotel Q' up for sale

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<p>A five acre resort, Riverglen Chalets, on the north western fringe of the Margaret River townsite has sold for about $3 million.</p>
<p>Nestled amongst huge karri, marri, jarrah and peppermint trees, the <a href="https://www.margaretriverrealestate.com.au/buy-commercial-real-estate/hotel-leisure-27-carters-road-margaret-river-wa-41049132195" target="_blank">27 Carters Road, Margaret River</a> property comprises of 14 timber chalets with private verandahs.</p>
<p>It is close to the town centre, supermarkets, cafes and restaurants.</p>
<p><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/2017/10/24/Chalet2.jpg" alt=""></p>
<p>Also located on site is a full sized home which provides residence for management, a 10m x 6m shed and a separate function room with bar, barbeque facilities, games and activity equipment.</p>
<p>The site has the potential for increasing the chalets to 20-25 units.</p>
<p>The asset generates a steady returns.</p>
<p>It was sold by Barry Granville of First National.</p>
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Riverglen Chalets, Margaret River sold for $3 million

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<p>An Abbotsford site, currently home to a former National Bank building, has been listed with expectations of more than $3 million.</p>
<p>The <a href="https://www.realcommercial.com.au/property-retail-vic-abbotsford-502597338" target="_blank">261 Victoria Street</a> property comprises a 540 sqm Italianate palazzo style building over two levels on a Commercial 1 zoned site.</p>
<p>According to Teska Carson’s Michael Taylor, who is marketing the property with colleague Fergus Evans, the land at the rear of the building has potential for development.</p>
<p>“The property presents as a great opportunity to capitalise on the very strong demand for new development in Abbotsford. This would potentially involve subdividing the land and developing the rear hardstand component whilst perhaps retaining and/or expanding on current uses over what is a very attractive and presentable commercial building on Victoria Street.”</p>
<p>He said Abbotsford was undergoing gentrification in response to demand, particularly from the residential market, with a large number of new mixed-use developments completed in the immediate vicinity of the property.</p>
<p>The building has been maintained and refurbished over the years and comprises a number of partitioned offices that could easily be adapted to suit various uses.  </p>
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