Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

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.

[smartcode_project:default project_id=106566 project_image_fid=185853]

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."

[smartcode_project:default project_id=106566 project_image_fid=362498]

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]

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

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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One of Surry Hill’s landmark buildings has been listed by The City of Sydney through CBRE in a move that will help reactivate the iconic Oxford Street commercial strip.
The <a href="https://www.domain.com.au/property-profile/1-5-flinders-street-surry-hills-nsw-2010" target="_blank">1-5 Flinders Street</a> property is a freestanding building on a 350 sqm landholding in the heart of Taylor Square. 
It was built in 1910 and was previously known as the ‘T2’ building. It has had a number of uses over the years, including a Commonwealth Bank branch and bar venue.
The property, which has a net lettable area of 923 sqm, is recognised by its unique exterior pattern, which is a result of City Of Sydney’s 2012 “Streetware” programme. The pattern is an urban Aborignal artwork that is reflective of the building’s position within Taylor Square.  
The building is being marketed by CBRE’s team of Nicholas Heaton, Gemma Isgro and Michael Khouri.
Isgro said the sale represented an outstanding opportunity to be part of Oxford Street’s resurgence as a popular retail, commercial and residential destination. 
“The future of this property has the potential to redefine Oxford Street, bringing new life to one of Sydney’s most loved and renowned streets,” Isgro said. 
Khouri said the property would attract strong interest from hospitality groups looking to capitalise on its prime inner-city position. 
“The freehold nature of the building will also be of interest to owner occupiers looking to secure 100% ownership of their head office, as well as investors keen to acquire a slice of prime Sydney city fringe real estate.” 
The property is being offered for sale via expressions of interest closing October 25.
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Iconic Surry Hills building T2 put on the market

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A 3.1 hectare site with potential for development in Sydney’s Campsie has been listed for sale.
The site at <a href="https://www.propertyobserver.com.au/https://www.propertyvalue.com.au/property/11-harp-street-campsie-nsw-2194/1708305" target="_blank">11 Harp Street</a> is opposite Canterbury Hospital and offers the potential to rezone for residential uses subject to council approval.
It is also close to Frasers’ “Clemton Park” residential redevelopment of the former Sunbeam factory.
The listing agents are Edward Washer and Sam Brewer of JLL, along with Michael Crombie and Trent Gallagher of Colliers.
JLL’s Washer said they expected interest from developers as it was a large infill site, which was rare in Sydney’s industrial markets.
“This is a rare opportunity to purchase a fully-leased industrial investment in Campsie, with future rezoning potential. Indicative medium and high density residential schemes have already been prepared for the property, along with multiple industrial schemes, all providing further upside potential,” said Washer. 
The site is tenanted, with leading auction and valuation specialist Pickles Auctions on a long term lease. 
The sale is via an expressions of interest campaign closing November 1. 
 
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Infill site with prospects for apartments in Sydney's Campsie listed 

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Kitchenware wholesale business Sheldon and Hammond has signed a ten year lease at Mirvac's industrial development Calibre at Eastern Creek in New South Wales. 
Construction of the 31,000sqm facility at Calibre is due to commence during September 2017. The building features high clearance warehouse space and office space, with a contemporary architectural design and outdoor courtyard.
Sheldon and Hammond imports Victorinox, Scanpan, Global, Zippo, Maglite, Brabantia, Avanti, Chasseur, Cusinart and Lifetime Brands.
Mirvac Development Director, Industrial, Fabian Nager, said Sheldon and Hammond were seeking to consolidate their existing facilities in a strategic location, into a new purpose built facility that reflected the quality of their offering and would support the evolution of the company.  
“The high quality and flexible design of this facility will cater to the growth that Sheldon and Hammond’s business is experiencing across Australia," he said.
“At Calibre, we’re continuing to push the boundaries of standard office and warehouse options, creating facilities that deliver long-term efficiencies for our customers and our portfolio. As Australia’s supply &amp; logistics, retail and manufacturing sectors adapt to current market changes, we’re delivering assets that help future proof our tenant’s businesses."
Calibre is located at the junction of the M4, M7 motorways and the Great Western Highway.
Colliers International, who brokered the deal, said whilst the pre-lease market is competitive, Calibre has a significant point of difference given its connectivity to the M4/M7 Motorway’s and the fact that its masterplan approved, therefore offers a significant time saving to achieve a purpose built facility in a short timeframe. 
Mirvac has begun construction on Building 3 at Calibre.
Building 3 offers a blend of functional warehousing with premium, high quality finishes and fixtures providing flexible office and warehouse solutions from 6,000 to 20,000 square metres. Building 3 will be available from December 2017.
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Sheldon and Hammond sign 10 year lease in Mirvac's Calibre, Eastern Creek

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The global benchmark for environmental, social and governance (ESG) performance of real assets, GRESB has named the Australia and New Zealand real estate market as the world’s most sustainable.
GRESB assessed 850 real estate companies and funds, representing more than 77,000 properties and AUD $4.6 trillion in global assets under management.
The Australia/New Zealand regional score was 73, compared with a global average of 63.
In 2016, Australia/NZ scored 74, compared with the global average of 60.
Ruben Langbroek, Head of Asia Pacific at GRESB said a record 66 Australian companies with AUD $205 billion in assets reported to GRESB this year, up from 55 last year.
He said this uptake is a direct result of increased investor demand for ESG-related disclosures.
“Transparency on ESG performance of property companies and funds supports investors, such as superannuation funds, to make better informed decisions on where and how to allocate their capital," he said.
“Importantly, it also enables them to identify material topics for engagement with their investment managers, with the aim of enhancing and protecting shareholder value.
“The results for Australia and New Zealand underline that investor interest, supported by accurate ESG performance benchmarking and building-level certification programs, is empowering the spread of leading practices in sustainability.
“The region’s integrated approach to sustainability supports the industry’s efforts to create healthy working environments, efficient buildings, inclusive communities and resilient cities.”
Romilly Madew, CEO, Green Building Council of Australia’s said green building certification programs, like Green Star and NABERS, are now institutionalised in mature real estate markets like Australia.
“Disclosure and transparency continue to drive the market in Australia, influenced by a host of factors from the Paris Agreement targets and Sustainable Development Goals, to disclosure requirements through the stock exchange and the Green Building Council of Australia’s zero carbon agenda,” she said.
“Australia continues to be recognised globally for its high level of transparency, collaboration and knowledge- sharing, as well as its accountability for sustainability at the highest levels.
“GRESB can help investors understand important non-financial metrics that are influencing the value of buildings across global markets.
“Leading companies understand this, which is why 20 per cent more Australian companies are now reporting to GRESB than a year ago.”
Lendlease’s Australian Prime Property Fund Commercial was ranked number one of all 850 companies and funds globally.
Lendlease International Towers Sydney Trust and Lendlease One International Towers Sydney Trust were jointly named the most sustainable development funds globally, and the Asian Retail Investment Fund 1 recognised as the regional leader for the retail sector in Asia.
The Australian Prime Property Fund Retail ranked number two in Oceania.
Josh McHutchison, Lendlease’s Managing Director, Investment Management, said around the world, we continue to see more and more investment in sustainable world-class assets.
“Established rating tools like Green Star provide investors with an independent verification of performance and helps us position our funds to meet the demands of leading investors,” he said.
Dexus Wholesale Property Fund was named a global sector leader for diversified office and retail groups.
Darren Steinberg, Dexus Chief Executive Officer said being named a global sector leader recognises our success in delivering world class, sustainable properties and is testament to the hard work and efforts of our sustainability team
Stockland was ranked first globally among listed companies for the diversified office and retail sector.
Stockland also announced today they will invest $23.5 million roll out Australia’s largest ever property solar project at 10 of its shopping centres across the country.
Davina Rooney, Stockland General Manager for Sustainability, said Stockland, sustainability is integral to what we do, creating vibrant and thriving places to shop, work and live, now and into the future.
“We continue to take a concerted effort to improve and measure sustainability across the business - within our assets, through our supply chain, the location and design of our communities and through tangible benefits to our customers and retailers,” he said
“We are 100% committed to investing in sustainability for the business and extremely proud to be setting this new standard in solar for Australian property.”
GRESB’s regional sector leaders for Australia/NZ are:
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="186">
Retail – Mixed:
</td>
<td valign="top" width="239">
Vicinity Centres
</td>
</tr>
<tr>
<td valign="top" width="186">
Office – Listed:
</td>
<td valign="top" width="239">
Dexus Office Trust
</td>
</tr>
<tr>
<td valign="top" width="186">
Office – Private:
</td>
<td valign="top" width="239">
Australian Prime Property Fund Commercial – Lendlease
</td>
</tr>
<tr>
<td valign="top" width="186">
Industrial – Mixed:
</td>
<td valign="top" width="239">
Frasers Logistics &amp; Industrial Trust
</td>
</tr>
<tr>
<td valign="top" width="186">
Diversified – Retail/Office Mixed:
</td>
<td valign="top" width="239">
Dexus Wholesale Property Fund
</td>
</tr>
<tr>
<td valign="top" width="186">
Development fund – Listed:
</td>
<td valign="top" width="239">
Goodman Group
</td>
</tr>
<tr>
<td valign="top" width="186">
Development fund – Private:
</td>
<td valign="top" width="239">
Lendlease International Towers Sydney Trust
</td>
</tr>
</tbody></table>
The Dow Jones Sustainability Index named Mirvac the top real estate group.
Investment specialist group RobecoSAM, which compiles the rankings, singled out Mirvac’s “climate strategy and approach to biodiversity” as “particularly laudable”.
Mirvac's top ranking was underpinned by strengths in corporate governance, impact measurement and valuation, environmental reporting, and social reporting.
Mirvac’s CEO and Managing Director, Susan Lloyd-Hurwitz. said the result demonstrates our whole-hearted commitment to sustainability in its broadest form, which provides real value to our communities, customers, partners and investors.
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Australia posts seven years of global sustainability leadership

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A retail property in Mornington Peninsula has sold for $2.9 million under the hammer, at a record low yield of 3.52% for the area, indicating the strength of the commercial property market there.
The sale of the properties at <a href="https://www.realcommercial.com.au/property-retail-vic-mornington-502513098" target="_blank">157 Main Street and 1 Barrett Lane</a>, which has two shops and an apartment over one title, reflected a land rate of $10,357 per sqm.
The property encompasses a land area of 280 sqm.
Both properties are leased to cafes, with Biscottini Café occupying 157 Main Street on a three-year deal while 1 Barrett Lane is leased to Onde Café on a three-year lease with another option for three years.
The selling agents were Chris Kombi and Mark Talbot of Fitzroys.
Kombi said commercial transaction across the Mornington Peninsula have returned strong results over the past 18 months particularly, as local and offshore investors alike have increasingly looked beyond the heated inner and middle metropolitan areas for investment opportunities. 
“The tightening yields across the region reflect the growing consistent demand for retail, hospitality and social infrastructure services from the local population, underpinning the viability of traders in the future,” added Talbot. 
Earlier this year, Fitzroys sold a Rosebud retail property to a Chinese buyer for $2.045 million at auction, reflecting a record price for a single-fronted shop in the Peninsula location, and at a 4% yield. 
Fitzroys also recently sold the Kingswim swim school centre at 2 St Catherines Court in Mornington for $5.4 million, with a secure 15+10+10-year lease to major not-for-profit organisation YMCA from October 2011. 
The demand in the region is spreading throughout the retail market, with a local investor acquiring the Baxter-Tooradin shopping centre for $16.6 million in May, shortly after the sale of the Hastings Shopping Centre for $32.1 million. 
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Retail assets in Mornington Peninsula sell for $2.9 million on record low yield

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<img src="https://counter.theconversation.com/content/82375/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
A lot of faith is vested in cities to tackle climate change, and with good reason. A day after the June 1 declaration that the US would exit the Paris Agreement, 82 American “climate mayors” committed to upholding the accord.
By August 4, when the US gave formal notice of its withdrawal, there were 372 “climate mayors” representing 67 million Americans. 
In Australia, too, national intransigence has led to greater expectations of local actions. The Climate Council’s July report declares that deep cuts in cities’ greenhouse gas emissions can achieve 70% of Australia’s Paris goals. 
The report notes that a majority of Australian cities have adopted climate policies. Many are committed to 100% renewable energy or zero emissions. One of the report’s authors argues that, even without national leadership, Australian cities can “just get on with the job of implementing climate policies”.
Many European cities have ambitious emission-reduction targets. Copenhagen plans to be the world’s first carbon-neutral capital by 2025. Stockholm aims to be fossil-fuel-free by 2040. 
So, at first glance, cities do appear to be leading the way. 
A word of caution
We support local decarbonisation and the desire for cities to be progressive actors. Yet there are ample grounds to be dubious about cities’ ability to deliver on their commitments. 
Sam Brooks, former director of the District of Columbia’s Energy Division, has laid out sobering evidence on the reality of climate action in US cities. 
Brooks supports stronger local action rather than “press releases” and “mindless cheerleading”. He shows that most emission cuts in US cities can be attributed to state and federal initiatives such as renewable portfolio standards or national fuel-efficiency rules. 
<a href="https://www.propertyobserver.com.au/images/2017/09/26/Screen%20Shot%202017-09-26%20at%2011.13.49%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/26/Screen%20Shot%202017-09-26%20at%2011.13.49%20AM.png" alt="">
America’s narrative of climate-friendly cities relies heavily on California’s leadership to make it credible.
By May 2015, California had built the Under2 Coalition of cities, states and countries committed to keeping the global temperature increase below 2°C. California Governor Jerry Brown was prepared for the June 1 White House announcement, quickly detailing why it was “insane”. Days later Brown signed a deal between China and his state to collaborate on cutting emissions. 
California’s activism sets a benchmark. But Brooks details how New York, Boston, Washington DC and other “frequently lauded cities” often do not use the powers they have. 
No US city reports its electricity consumption more than annually. Many do not report it at all. Poor monitoring is a key reason they have not cut consumption, in spite of enormous scope for efficiency. 
Cities have not added much to national trends
It isn’t just American cities falling short, as Benjamin Barber’s new book, Cool Cities makes clear. 
Like Brooks, Barber championed urban action against global warming (he died in April 2017). Yet he looked past the hype to point out shortcomings in the mitigation measures of such exemplary cities as London and Oslo.
London’s stated goal is to cut emissions by 60% by 2040. It seems likely to fail, with blame falling on rapid population growth and inadequate policies in the building sector. 
Oslo is committed to a 100% cut in emissions by 2050. But its emissions have risen from 1.2 million tonnes in 1991 to 1.4 million tonnes in 2014. One complication is that oil and gas production comprise 22% of the Norwegian economy. The nation’s emissions are up 4.2% since 1990.
Even the progress of climate superstar cities such as Copenhagen, Stockholm and Berlin is, on close examination, subject to important caveats.
Copenhagen makes much of having cut emissions 21% by 2011 from 2005 levels. Yet the city admits that 63% of its goal of becoming carbon-neutral relies on buying carbon offsets for its emissions. 
National policy is a crucial context for urban action. For instance, Copenhagen has benefited greatly from a 27% fall in Denmark’s emissions between 1990 and 2015. Unfortunately, Danish emissions are expected to increase after 2020 without new policies.
Stockholm has cut emissions by around 37% between 1990 and 2015. This is mainly a result of changes to building heating – transport emissions have barely changed. 
As in Copenhagen, Stockholm’s achievements rely greatly on a national target – net-zero emissions by 2045 – backed by a robust policy framework.
As for Berlin, its goal is an 85% cut in emissions by 2050, compared to 1990. By 2013 the city had cut emissions by about one-third. Yet most recent data indicate that emissions have begun to rise slightly. Berlin is at risk of achieving only half of its mid-term goal of a 40% cut by 2020. 
Berlin is not responsible for a national policy that remains lax on coal and unduly favours automobiles, the source of 18% of German emissions. But civic leaders in Berlin could do more to nudge a car-centred culture towards sustainability.
What must cities do?
The urgency of real action is clear from the IEA’s 2016 report on sustainable urban energy systems. It warns that business as usual in cities could mean emissions increase by 50% by 2050. 
The IEA notes that 90% of the growth in primary energy demand is in non-OECD countries. At the same time, climate science tells us deep emissions cuts must begin by 2020. We have to accelerate decarbonisation, which means demanding greater ambition and transparency from cities. The following steps need to be taken:
Every city should have accurate, timely and transparent data on their performance across a range of indicators. These include emissions, electricity consumption, energy efficiency and renewable energy availability.
We need more robust comparative frameworks to make sense of the data. The 2014 Global Protocol for Community-Scale Greenhouse Gas Emission Inventories was a valuable start, but has to be expanded.
Cities should be more global when calculating their emissions. At present, they tally up emissions from their own territory and production, leaving out emissions from consumption of traded goods and (often) aviation. The differences can be significant. Were Copenhagen’s emissions measured on a consumption basis, the total would be four to five times higher.
Cities need to differentiate between emission cuts resulting directly from their own actions and those derived from state or national programs. We need to see what cities themselves are doing.
Cities too often advocate climate neutrality rather than zero emissions. The more a city relies on credits for offsets elsewhere, the greater the risk of failing to cut actual emissions within the city. 
There should be less cheerleading all around. City mayors need to lobby their state and federal counterparts to ensure co-ordinated action at all levels. And citizens must throw out mayors - not to mention regional and national leaders - who don’t accept the urgency of climate mitigation.
Sadly, many cities are dangerously complacent about the need for speed in decarbonisation. No press release can obscure the fact that time is not on our side.
<a href="https://theconversation.com/profiles/brendan-f-d-barrett-179124" target="_blank">Brendan F.D. Barrett</a> is Senior Lecturer, Program Manager, Masters of International Urban and Environmental Management, RMIT University.
<a href="https://theconversation.com/profiles/andrew-dewit-112433" target="_blank">Andrew DeWit</a> is Professor, School of Policy Studies, Rikkyo University.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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jchancellor-FAypfDUnLy

This is why we cannot rely on cities alone to tackle climate change

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A freehold, modern building in Sunshine Coast’s Cooroy, ideal for office or medical use, has been listed with price expectations of $795,000 plus GST through Savills.
The property at <a href="https://www.realcommercial.com.au/property-offices-qld-cooroy-502456802" target="_blank">3-5 Myall Street</a> is located in the business district of Cooroy, a fast growing railway town.
The building previously housed award-winning owner Ausmar Homes for nearly 20 years.
The recently renovated, standalone building boasts a modern façade, standalone backlit pillar signage at its entrance and dual street access.
The office area is 266 sqm comprising a reception, five offices, a boardroom, and all amenities, in an open plan format.
The land area is 792 sqm.
The office is flanked by allied health and medical tenants. It is also close to cafes, restaurants and public transport.
The property is being marketed by Savills’ Will Carman and Peter Capps.
“Freehold office in general is extremely hard to come by on the Sunshine Coast at present, let alone of 3-5 Myall Street’s calibre, with the recent improvements made to the asset solidifying it as an A-grade office accommodation offering,” Carman said.
“The property, with its impressive fitout, numerous features and great exposure, would be extremely well suited to professional businesses, the medical industry or owner occupiers,” he said.
The property was put on the market as Ausmar Homes is expanding and wanted a bigger office. It builds on average 250 homes annually
The building was only completed in 2012, so it’s as good as new.
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Office building in Sunshine Coast's Cooroy listed for sale: Savills 

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Industrial and logistics occupiers are on an overall basis, optimistic about the future with a majority hoping their businesses will be better off financially over the next 12 months, according to a new survey by commercial real estate firm CBRE.
According to the Industrial and Logistics Occupier Survey Report by CBRE, 66% of respondents expect their business to be better off financially, while a quarter said expecting things to stay the same over the next 12 months (Figure 5).
<a href="https://www.propertyobserver.com.au/images/2017/09/25/CBREchart1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/09/25/CBREchart1.png" alt="">
CBRE engaged TNS Kantar for the survey that aimed to gain a better understanding of decision making, future plans and how changes in technology are impacting the industry. 
The warehousing and distribution sector is the most positive with 86% of respondents expecting their business to be better off, while 61% of the transport sector had a positive financial outlook (Figure 6).
<a href="https://www.propertyobserver.com.au/images/2017/09/25/CBREchart2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/25/CBREchart2.png" alt=""> 
Increases in road tolls, particularly in Melbourne, and the introduction of a container charge to be levied on transport companies at Melbourne and Sydney ports may have been a factor for the flatter score, CBRE said.
“Victoria is experiencing stable economic growth and solid wage growth. These favourable economic conditions have been reflected in the results of the survey,” said the report.
Victorian businesses have the strongest outlook with 76% expecting their business to be better off than what it is now while only 65% of NSW businesses said the same.
Furthermore, 48% of Victorian businesses are considering hiring more staff compared to 29% for NSW businesses. NSW’s softer results follow a period of very strong economic growth driven by construction activity in the housing and infrastructure sectors which is easing from high levels - the slowdown in momentum may have driven the flat results.
On the other hand, 70% of Queensland based survey respondents expect to be better off which reflects a period of flat economic performance which is now turning around, encouraging positivity in the sector. 
<a href="https://www.propertyobserver.com.au/images/2017/09/25/CBREchart3.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/09/25/CBREchart3.png" alt="">
Australian manufacturing has recorded negative Gross Value Add (GVA) growth for the past 18 out of 19 quarters and has been a significant drag on industrial output. Conditions in manufacturing remain mixed, although not all areas are contracting. 40% of manufacturing respondents indicated that they were expecting a high level of staff growth over the next 12 months; however, the sector also had the highest level of staff contraction (17%). As the Australian manufacturing industry shifts towards a smaller scale, high technology offering, there will be a shift in the number of staff required in each facility.
Overall, the survey suggests the strongest net growth is in the retail and warehousing industry closely followed by transport. Unsurprisingly, manufacturers have the lowest net growth expectations.
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Industrial and logistics occupiers positive on growth outlook: CBRE survey

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A freehold building in the heart of the Chatswood CBD is about to go under the hammer, bringing with it, a boutique redevelopment opportunity.
The <a href="https://www.realcommercial.com.au/property-retail-nsw-chatswood-502565362" target="_blank">503 Victoria Avenue</a> property is a two-storey commercial building that offers 225 sqm of floor area on a 428 sqm site.
The property is surrounded by a mix of retail and commercial premises. 
The building is being offered with vacant possession coupled with planning controls that allow for future commercial, hotel accommodation, child care, medical, serviced apartments or entertainment or educational purposes subject to council approval.
It was previously utilised as a medical centre.
It has three access points and the flexibility to operate with two separate tenancies, according to the listing agents from Savills and Knight Frank.
The listing agents are David Hickey and Tim Grosmann of Savills Australia and Linda Zhu and Dominic Ong of Knight Frank.
<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/2017/09/25/ChatswoodNew2.jpg" alt="">
This is the third freehold property in the Chatswood CBD that has been publicly offered since 2015 in the below $15 million category.
“The site is favourably zoned B3 – Commercial Core allowing for commercial use, with a height limit of 90 metre and maximum FSR of 5:1. The redevelopment potential for this property could yield (2,140 sqm) in potential Gross Floor Area (STCA) under the existing planning controls,” said Hickey from Savills.
In addition, two major shopping centres Westfield Chatswood and Chatswood Chase are close.
With some 164,000 sqm of retail space, the Chatswood CBD is one of the strongest retailing locations in Australia, said Hickey.
Both investors and developers could be attracted to the property, said Linda Zhu of Knight Frank.
“The close proximity to the Sydney CBD and retail offerings within Chatswood make this a very attractive prospect for investors and developers alike.” 
The auction is scheduled for October 26.
 
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Commercial building in Chatswood up for auction

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Melbourne’s former Duke of York Hotel at Prahran, renamed The Smith after renovation by the owners including Lucy Liu, has been listed for auction with expectations of a $9.5 million plus price tag.
The Smith at <a href="https://www.realcommercial.com.au/property-retail-vic-prahran-502562654" target="_blank">213 to 219 High Street</a> recently reopened following a multi-million dollar renovation, expanding into the building next door and doubling the size of the venue to 1,045 sqm. 
The upgrade includes a retractable glass roof that creates a closed piazza style atrium, a 120-seat dining and bar area and a first floor function room.
The property current earns a net annual rental of $520,000 and will be sold subject to a new 10-year lease with two further ten-year options.
The asset is being marketed by Teska Carson’s Michael Taylor and Michael Ludski.
The auction is scheduled for October 20.
In occupation for the past seven years, the lessees are celebrated Melbourne restaurateurs Michael Lambie and Scott Borg of Lucy Liu, Taxi Dining Room, Lamaro’s and Circa fame, and business partner and current The Smith executive chef, Brad Simpson. 
The business operates a general 3 am liquor licence for 307 patrons.
<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/2017/09/26/Smith2.jpg" alt="">
Listing agent Taylor said the corner (Clifton Street) location would attract both investors and developers due to its commercial 1 zoning and with potential for a high rise residential development.
“The Smith ticks all the boxes for a solid investment with a secure lease to very successful tenants in an unrivalled location, but it also offers an exceptional landbank opportunity should the buyer wish to pursue future development options down the track,” said Taylor.
“Prahran has been and will continue to be a strong property performer as Melbourne’s population grows over the next 20 years and more, and the demand for apartments grows with it.’’ 
According to Ludski, it is the entertainment element that has been a key driver of property values in Prahran in recent times.
 “Put simply, ‘The Smith Prahran’ is an anchor hospitality destination situated within the epicentre of Melbourne’s hottest entertainment precinct,” he added.
 
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