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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Toorak Park is the outcome of a decade of development overtones for an expansive and formerly underutilised site abutting Toorak Station.

Few projects across Melbourne are larger in terms of site size, with developer Lendlease over recent months applying the finishing touches to 446 apartments and 18 townhouses across a host of buildings. What makes Toorak Park particularly impressive though is the extensive greenery and public permeability across its ground plane.

Often by necessity the vast majority of Melbourne's apartments buildings find themselves in a truly urban context; surrounded by other buildings they are small in footprint and often lack expressive, inclusive or even interesting public realm outcomes.

Toorak Park is at the opposite end of the scale; it is not an outwardly flashy development but when roughly 35% of the site's 2.5 hectares has been seeded to green areas or parkland, it becomes an excellent public outcome.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_8283.jpg" rel="gallery-all" title="A direct and publicly accessible link to Toorak Station"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_8283.jpg?itok=p4iYKuQw" title="A direct and publicly accessible link to Toorak Station" width="580"></a>

<figcaption>A direct and publicly accessible link to Toorak Station</figcaption></figure>The development team consists of Lendlease as developer/builder, Denton Corker Marshall as architect, Carr Design Group account for interiors and Tract Consultants who devised the project's landscaped areas.

Various buildings up to 12 levels dot the site, and generally present with the same architectural form and expression. Whilst they may not rank as among the most impressive buildings in Melbourne, the format and execution across the project's ground plane is deservedly worthy of praise and equal to any that Apartments.com.au has reported on in recent years.

The development is bound by Orrong Road, Toorak Railway Station, Osment Street, Toorak Park and Victory Square Reserve. Greenery, permeability, and wayfinding are all present, as is a new alternative route in accessing Toorak Station and Beatty Avenue via the heart of the site.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_8289.jpg" rel="gallery-all" title="Toorak Park's built form outcome"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_8289.jpg?itok=lj6VXMkj" title="Toorak Park's built form outcome" width="580"></a>

<figcaption>Toorak Park's built form outcome</figcaption></figure>Toorak Park is a shining example of the accord that can be achieved when new development is inclusive of publicly accessible green spaces.

Wide, clear and well-signed paths, an immense number of plantings right across the development and the separation between vehicle access and pedestrian space are all on show; the latter is especially noticeable and makes for a quiet and safe experience when walking through the finished product.

The pre-existing pedestrian link from Orrong Road to Toorak Station which flanks the site's northern border is a prime example of what effective landscaping can do. The narrow passage formerly lined by cyclone fencing now enjoys stepped layers of greenery that provides a lit and safe pedestrian space, whilst also masking the necessary security and privacy measures for residents directly behind.

During the project's sales campaign Tract director and landscape architect Mike Stokes was quoted as saying "We create landscapes that grow old gracefully. We were mindful of the spaces between all the buildings, and responded to leafy surrounding suburbs, such as Toorak, Armadale, and Prahran."

Once the new plantings reach maturity and the overall development is 'worn in', it will be interesting to see just how gracefully the landscape around Toorak Park ages, given how impressive it is right now.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/img_8270.jpg" rel="gallery-all" title="Plantings are in contrast to what was cyclone fencing"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_8270.jpg?itok=FOdRPTYe" title="Plantings are in contrast to what was cyclone fencing" width="580"></a>

<figcaption>Plantings are in contrast to what was cyclone fencing</figcaption></figure>See below various images of Toorak Park taken during August.
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silvermb

Toorak Park delivers where it matters most

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Median house prices over the June 2017 quarter increased nationwide with the exception of Adelaide and Perth, according to the latest REIA Real Estate Market Facts.
The report found the weighted average capital city median price increased by 1.8 percent for houses and 2.6 percent for other dwellings.
Malcolm Gunning, president, Real Estate Institute of Australia said the weighted average median price for houses for the eight capital cities increased to $768,227, with prices increasing everywhere except for Adelaide and Perth.
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“The weighted average median price for other dwellings increased to $604,456, again driven by median price increases in Melbourne and Sydney and, to lesser extent, in Darwin, Adelaide and Hobart,” he said. 
“The largest increase in the median price for houses was seen in Hobart at 4.9 per cent, while for other dwellings Darwin’s 9.3 per cent increase was the highest. 
“In contrast median house prices decreased in Adelaide and Perth and median prices for other dwellings decreased in Brisbane, Canberra and Perth,” he said. 
"Over the quarter, median rents for three-bedroom houses decreased in most capitals except for Canberra. 
“Adelaide had the largest decrease at 2.9 percent, with the other capital cities having similar declines. Median rents for two-bedroom other dwellings increased in Canberra, Hobart and Sydney. In Melbourne, Adelaide, Perth and Darwin median rents for other dwellings declined with Brisbane having the highest decrease of 5.1 percent. 
“The weighted average vacancy rate for the eight capital cities remained steady at 2.8 percent during the June quarter. Both Darwin and Perth continue to have high vacancy rates at 7.3 per cent and 6.9 per cent respectively, while Canberra recorded the largest decrease of 0.4 percentage points. Perth was the only capital city to see an increase with a rise of 0.8 per cent,” he said. 
"Both investor finance and owner-occupied housing finance, excluding re-financing, showed strong increases of 12.8 percent and 13.6 percent respectively over the quarter. 
“Whilst both increased, over the last eight quarters we have seen owner occupied financing greater than that of investors. The decline in investors is in response to the more rigid lending criteria imposed by APRA on investment property lending which is cooling the residential markets, particularly in Melbourne and Sydney. 
“The past level of investor activity is flowing through in higher vacancy rates than has been the case for the last two years,” Mr Gunning said.
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jonathanchancellor-7SQnKwU6yx

Adelaide, Perth median house prices flat over June 2017 quarter

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<img src="https://counter.theconversation.com/content/83144/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Housing for people with disability is being transformed from grants-based funding to a market-based system where people with disabilities control their own funding.
This market has the potential to grow in size by around A$5 billion over the next five years in the National Disability Insurance Scheme (NDIS).
PwC and the Summer Foundation recently released a paper called NDIS Specialist Disability Accommodation: Pathway to a mature market. The paper provides a vision of a mature, properly functioning disability housing market and outlines the pathway to reach it. 
<h2>The importance of getting this market to work</h2>
Creating housing is one of the most important tasks for the NDIS. It’s especially important for the young people living in aged care and the adults with disability living with ageing parents. 
More than 6,200 young people are living in aged care, with 2,000 young people entering aged care annually. In some parts of the country, young people occupy more than 20% of all aged care places. 
The NDIS has the resources and mandate to fix this problem through the Specialist Disability Accommodation (SDA) payment policy. The NDIS has an annual recurrent budget of $700 million for SDA. This housing funding is designed only for people under 65 with very high disability support needs. This equates to around 6% of NDIS participants – 28,000 people.  
<a href="https://www.propertyobserver.com.au/images/2017/09/15/Screen%20Shot%202017-09-15%20at%209.41.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/15/Screen%20Shot%202017-09-15%20at%209.41.12%20AM.png" alt="">
The SDA policy is ambitious. The value of all SDA properties across Australia is expected to total around $11.5 billion. The breakdown would be:
<ul>
<li>
$2.5 billion to create housing for the 6,000 young people in aged care;
</li>
<li>
$2.5 billion to create housing for others with unmet needs for SDA; and
</li>
<li>
$6.5 billion to replace, refurbish and manage disability housing stock that existed prior to the NDIS. 
</li>
</ul>
<h2>How this market works</h2>
The PwC and Summer Foundation paper provides a vision for how this market will operate once it is mature. 
The report shows how funding for housing provided directly to people with disability creates a user-driven market. People with disability will be empowered to decide where they live and who they live with. 
NDIS participants with high support needs will receive annual funding to pay for the cost of their housing. The SDA payment is calculated based on the dwelling’s location, size and level of accessibility. The housing payments are designed to cover the costs incurred in providing the bricks and mortar and offer a return on investment at market rates (5-12%).
Critically, the provider bears the vacancy risk should they fail to find a tenant – only when the dwelling is occupied are SDA payments made. In this competitive SDA market, housing providers will compete to deliver the best outcomes for tenants, which include being close to shops and transport.
<h2>Progress over the past year</h2>
The government and the National Disability Insurance Agency (NDIA), which oversees the NDIS, have done a tremendous job in setting up this new funding stream. The new SDA rules under the NDIS Act took effect in March 2017. We are moving from policy design to implementation. 
We now need to make sure that this well-funded and well-designed SDA payment delivers new housing on the ground. 
The market is responding, with NDIS housing being built in cities across Australia. Large retail banks and superannuation funds are reviewing SDA transactions. Large developers are including SDA builds in some new developments. 
Summer Housing (Summer Foundation’s sister entity) opened ten new SDA apartments in the Hunter Region of New South Wales in mid-2016. Contracts were recently signed for another ten apartments designed for people with disability throughout a 77-apartment development built by Grocon in Fairfield, Melbourne. 
Summer Housing aims to build 300 apartments through SDA – meeting the needs of less than 5% of all young people in aged care. 
<h2>What will it take to meet the need more quickly?</h2>
Over the next five years, 16,000 new or refurbished SDA places are needed. Around 650-700 new SDA places were created or commissioned in the past 12 months. Only 250-300 of these are for unmet demand. The remaining 400 are to rebuild existing, outdated government disability housing stock. 
The market needs to reach scale more quickly. The NDIA and government need to listen to and actively steward this fledgling market. 
The government sector can do three things to accelerate progress toward a mature market: 
<ol>
<li>
The federal government can provide certainty to the market about how long these prices are guaranteed for and how any price reviews occur. 
</li>
<li>
The NDIA can provide regular and good-quality information on demand for SDA. 
</li>
<li>
Local and state governments can mandate targets for SDA in major developments.
</li>
</ol>
Beyond these actions, there is the potential to link SDA with the federal government’s commitment to support a strong Social Impact Investing market in Australia. Social impact investments generate measurable social outcomes, while delivering a financial return to the investor. 
Robust evaluation and evidence-based decision-making are integral to social impact investing. The NDIS approach will provide solid evidence that well-located housing with accessible design and technology will increase the quality of life and independence of NDIS participants, thereby reducing the NDIS’s lifetime care costs and liability. 
The SDA market has the potential to demonstrate how government can leverage large amounts of capital from superannuation to fund other forms of affordable housing.
<h2>Laying the foundation for a revolution</h2>
For people with the highest levels of disability, the NDIS housing payment will bridge the gap between what people with disability can reasonably afford and the cost of building highly accessible housing. 
This policy lays the foundation for developing the range and scale of housing needed to resolve the issue of young people in nursing homes in Australia. 
The next step is for government to work with stakeholders in the market — including investors and the housing sector — to create the revolution in housing that Australians with a disability and their families have been waiting for.
<a href="https://theconversation.com/profiles/di-winkler-8828" target="_blank">Di Winkler</a> is Adjunct Associate Professor, La Trobe University.
<a href="https://theconversation.com/profiles/george-taleporos-287224" target="_blank">George Taleporos</a> is Adjunct Senior Research Fellow, Living with Disability Research Centre, La Trobe University.
<a href="https://theconversation.com/profiles/luke-bosher-255941" target="_blank">Luke Bo'sher</a> is Fulbright Scholar, New York University.
All are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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jchancellor-FAypfDUnLy

 How the NDIS is using the market to create housing for people with disability

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<div id="lightbox0">GUEST OBSERVER</div>
As Hurricane Harvey made landfall north of Corpus Christi, this Category 4 hurricane left devastation in its wake.
CoreLogic estimates that the total residential insured and uninsured flood loss for Hurricane Harvey is between $25 billion and $37 billion.
In the days before making landfall, the hurricane rapidly intensified, transforming itself from a small tropical storm of little concern, to now, what we consider to be one of the most devastating hurricanes to hit the United States.
Yet, the real characteristic that sets Hurricane Harvey apart from other hurricanes is the unprecedented flooding that resulted, with record setting rainfall reaching upwards of 50 inches in a single location.
Subsequently, the enormous geographic breadth of the flood area is beyond comparison to any recent hurricane or flood event in the U.S. CoreLogic analysis estimates that 70 percent of the flood damage from Hurricane Harvey is uninsured, highlighting an insurance gap that leaves many of those impacted uninsured.  
<a href="https://www.propertyobserver.com.au/images/2017/09/15/Screen%20Shot%202017-09-15%20at%209.01.22%20AM.png" target="_blank">Click to enlarge</a>
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Naturally occurring catastrophic events can be tipping-point events, where a failure in one area can quickly cascade into interconnected failures.
We cannot control the timing of low-probability catastrophes (and the rare occurrence of more than one event in a short period, such as Hurricane Irma on the heels of Hurricane Harvey, making landfall in the continental United States) of this severity but can improve our ability to respond, and subsequently rebuild.
Having a comprehensive and granular understanding of risk powered by data and analytics is critical to that. We look to do this through improvements gained largely though the maintenance of better insurance exposure data sets, and the introduction and acceptance of catastrophe risk loss models that can simulate the occurrence of large catastrophic events.
In 1992 when Hurricane Andrew made landfall, it took months for the government and insurance industry to accurately quantify the losses from this event and this delay increased the losses in both financial and human terms. However, in the wake of Hurricane Katrina, the loss severity was rapidly assessed, quickly putting into motion large scale government and private restoration efforts.
In short, as bad as the effects were from Hurricane Katrina, they could have been significantly worse.
The widespread flooding from Hurricane Harvey, caused by storm surge and inland flooding, highlights the challenge of flood risk to properties in the United States.
Since we cannot influence the timing and severity of natural catastrophes, we need to focus on resilience – our collective ability to rebuild and restart businesses and lives.
Insurance is an important part of our resilience because insurance provides the funds necessary to restore the damage to capital from these events. Hurricane risk modeling became accepted after Hurricane Andrew highlighted weaknesses in our ability to respond to large urban catastrophes, and this adoption has led to faster restoration of lives and livelihoods after hurricanes.
Flood risk modeling is a much more complex data and analytic challenge than hurricane risk modeling, but the greater availability of location data sets and grid computing in 2017 have improved our ability to respond to flood disasters.
If we characterize the last phase of risk resilience improvement as the era of catastrophe modeling data and analytics, the next era will be known as the era of big data and grid-computing analytics. And one where we began to actively manage flood risk in the United States.
CoreLogic's Tom Larsen can be contacted <a href="https://www.corelogic.com/default.aspx" target="_blank">here</a>.
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70 percent of the flood damage from Hurricane Harvey is uninsured

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Sydney’s inner suburb of Pyrmont has transitioned into a stylish suburb from a habourside industrial hub, and it will only expected to benefit from the growing population, says Savills.
Pyrmont’s transformation over the last few decades is interesting. As industry moved out, the area declined and by 1991 had just 530 residential dwellings. However, several government initiatives later, redevelopment has picked up.
The number of residential dwellings has increased by a multiple of 12 and Pyrmont is now one of the densest suburbs in Australia, say Savills in their latest residential spotlight, authored by Sophie Chick.
However, the rate of development has slowed over the past decade with residential stock in the suburb increasing by just 9.1 percent over the decade to 2016. 
The redevelopment of the current site of the Sydney Fish Market, which is earmarked for residential development, is expected to change the site into a prestigious residential destination. 
The median price for an apartment in Pyrmont is $1.05 million, slightly higher than the neighbouring suburbs of Sydney, Glebe and Ultimo but lower than those in Rozelle and Balmain. 
By contrast, the median house price at $1.57 million is lower than all neighbouring suburbs with the exception of Ultimo due to the nature and size of stock selling. 
<a href="https://www.propertyobserver.com.au/images/2017/09/12/Pyrmont1.png" target="_blank">Click to enlarge</a>
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Property prices in Pyrmont have experienced strong growth over the past decade. The median value of houses has nearly doubled over that period while the median apartment price has increased by 120 percent. More recently, the rate of growth has slowed with median values rising by 7.5 percent and 7.1 percent over the year to June 2017 for apartments and houses respectively. 
The median weekly rental value in the area in June 2017 was $840 for a house and $810 for an apartment, equating to average yields of 2.8 percent and 4.0 percent respectively, notes Savills. 
The proportion of private renters in Pyrmont is significantly higher than average accounting for 48 percent of the population compared to 28 percent across Sydney. Due to this high demand and lack of new supply in the area, the vacancy rate has remained consistently low over the past couple of years. In June 2017, the residential vacancy rate stood at 1.2 percent compared to an average of 2.1 percent across Greater Sydney. 
Pyrmont is popular with young professionals. The largest household types are couples without children and lone persons, which account for 57 percent of the population compared to 43 percent across Great Sydney. 
Correspondingly, there is a significantly higher proportion of the population aged between 25 and 34. Employment opportunities are a key reason people are drawn to live an area. Pyrmont is just a short walk away from the CBD, driving demand in the area from white-collared workers.  
The largest employment industries for people living in area are the Professional, Scientific and Tech sector and the Financial and Insurance sector accounting for 18 percent and 15 percent of employees respectively, significantly higher than the Sydney average.  
Pyrmont has a multicultural community with 51 percent of residents born overseas compared to 37 percent across Greater Sydney. Chinese dominate Pyrmont, accounting for seven percent of residents, followed by the United Kingdom and South Korea with six percent and four percent of residents respectively. As such, many international buyers are attracted to the area, providing an important source of demand for the housing market as both owner-occupiers and investors. 
As Sydney’s population continues to increase, interest rates remain low and infrastructure projects near completion, the long-term prospect for Pyrmont remain sound, according to Savills. 
Additionally, the transformation of the Bays Precinct is expected to improve the quality of life for existing residents and attract new buyers to the area in spite of the challenges of affordability and a slowing of the property market in Sydney. 
<a href="https://www.propertyobserver.com.au/images/2017/09/12/Pyrmont2.jpg" target="_blank">Click to enlarge</a>
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Pyrmont has transitioned into suburb of choice: Savills 

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The home of Bondi Wholefoods, as well as the modern Bondi Beach Apartments complex, is set to hit the market for auction in October.
The listing of <a href="https://www.domain.com.au/building-profile/30a-hastings-parade-north-bondi-nsw-2026" target="_blank">30a Hastings Parade, North Bondi</a> follows last month’s successful sale of a block of eight residential apartments plus retail at 134-138 Campbell Parade for $18.25 million with the rental return of 2.7%.
The beach block will go to auction on October 19.
Positioned in the heart of Bondi’s “Golden Triangle”, on the corner of Hastings Parade and Wairoa Avenue North Bondi, the former Bondi Police Station was redeveloped in 2011 by the local identity, Ash Samadi.
The block consists of seven one, two and three-bedroom apartments and retail space which has been the home of the organic retailer &amp; café, Bondi Wholefoods, since completion.
The listing agents are Colliers International’s Miron Solomons and Matt Pontey along with Alexander Phillips and Anthony Puntigam of Phillips Pantzer Donnelley.
“The tenancy mix of luxury apartments and flagship retail means investors enjoy a balanced portfolio at Australia’s most famous beach,” said Miron Solomons of Colliers. 
Tenancies are long-term leases that expire in March 2021, with further five-year options, generating income of nearly $630,000 p.a.
 
 
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prateek24-ezbwHMbNAk

Another Bondi beachfront block with retail hits the market

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Low interest rates and rental vacancy rates makes Tasmania the ideal investment locality, according to Herron Todd White’s recent report on the Apple Isle.
The property data firm says that investor interest has grown compared to last year.
“It appears Tassie’s secret is out, that low interest rates, rental vacancy rates and capital entry levels partnered with stable rents translate to good investment yields and these factors appear to be the reasons behind growing investor participation in our residential market.
“Comparative to other states investors have not traditionally played a large part in the Tasmanian residential real estate market, however reports on recent data by the Real Estate Institute indicate that investor activity has grown from 14% to 21% compared to the same period last year with small gains in interstate investor activity.
“Currently first home owners in Tasmania are eligible for a $10,000 grant when purchasing a home however if they purchase either a newly built home, engage a builder or build themselves they are eligible for a further $10,000.
“State Revenue Office statistics reveal that grants paid to those purchasing new properties have declined by approximately 38% over the past twelve months indicating that first home buyers are forgoing the full $20,000 grant by purchasing established properties as they often represent better value.
“In doing so first home buyers are directly competing with investors in the sub $275,000 price bracket.
“Local investors appear to be purchasing residential property in the lower regions of this bracket with a view to renovating it themselves for either an investment yield by building their rental property portfolio or flipping it for capital gain.
“By contrast, interstate investors appear to be seeking investment yields or purchasing properties to retire to and renting them in the interim.
“Depending on the depth of their pockets, in some cases interstate investors are spending anywhere up to $500,000 plus,” the report stated.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-tas-port+huon-124492790" target="_blank">7 Bonnies Way</a>, Port Huon (above) has been listed for over $250,000.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-tas-upper+burnie-125996702" target="_blank">15 Churchill Avenue</a>, Upper Burnie (below) has been listed for $275,000.
Built in 1974 it last sold for $257,500 in 2013.
<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/2017/08/21/15%20Churchill%20Avenue.jpg" alt="">
The diversity in property in Tasmania is also due to its slower population growth Herron Todd White commented.
“Tasmania’s slower population growth has resulted in greater diversity of property types in each suburban area where small cottages can sit next to mansions which may explain why unlike other states, investors don’t tend to focus on any particular suburb,” the report commented.
Investors tend to focus on either properties suitable for renovation or those with development potential Herron Todd White advises.
“Investor focus, of which the lion’s share is local, appears to be on either properties ripe for renovation or those with development potential.
“In Tasmania’s south, the commuter suburbs of Glenorchy and Claremont, approximately ten and fifteen kilometres respectively north-west of Hobart along with New Norfolk, (a slightly longer commute being approximately 35 kilometres also to the north-west of Hobart) have been strong performers in recent months in this price bracket.
“The most economical areas in the north where the greatest volume of residential sales has occurred in recent months include George Town, Newnham and Mowbray. George Town is a satellite town of Launceston with a commute of approximately 40 minutes.
“The majority of sales in George Town were well under $180,000 and marketed for extended periods,” the report advised.
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j.ballantyne1990-6AQqhLzZaK

Investor activity in Tasmania increases: HTW

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A renovated three bedroom MacGregor house sold for $420,000 placing it among Canberra’s cheapest recent auction sale.
Located at <a href="https://www.realestate.com.au/property-house-act-macgregor-126031114">10 Lipscomb Place</a>, the 707 sqm property is situated in a quiet cul-de-sac block.
Built in 1972 the property was last sold in 2004 for $253,000.
It features a front porch with views of the garden as well as an open plan living and dining area.
There is also a large master bedroom with four door ceiling-to-floor sliding door robe as well as two additional bedrooms with new mirrored robes.
The bathroom has also been renovated and features a new shower screen and wall tiling.
The property was offered through Ray White agent Stephanie Hendry.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-macgregor-126121718" target="_blank">8 Aaron Place</a>, MacGregor (below) was recently sold for $600,000.
Built in 1975 the 886 sqm property last sold for $224,000 in 2002.
<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/2017/09/14/8%20Aaron%20Place.jpg" alt="">
A four bedroom house at <a href="https://www.realestate.com.au/property-house-act-macgregor-125920958" target="_blank">5 Gaggin Place</a>, MacGregor (below) has been listed for $599,000 plus.
Built in 1973 the 1034 sqm property last sold in 2011 for $432,000.
<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/2017/09/14/5%20Gaggin%20Place.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/property-house-act-macgregor-126290202" target="_blank">52 Dagmar Berne Street</a>, MacGregor (below) has been listed for $425,000 plus.
Built in 2008 the 485 sqm property's land was sold in 2007 for $320,000.
<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/2017/09/14/52%20Dagmar%20Berne%20Street.jpg" alt="">
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Renovated three bedroom MacGregor house sold for $420,000

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A three bedroom house in the Rockhampton region of Berserker, Queensland has been listed for mortgagee sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-berserker-126281270" target="_blank">157 Witt Street</a>, the 1012 sqm Queenslander property requires renovation to bring it to its full potential.
It last sold in 2007 for $128,000.
It features an in-ground pool plus an extra-large entertainment area complete with toilet and shower attached.
There are also three bedrooms and granite kitchen benches with extra storerooms under.
The median price of a three bedroom house in Berserker is $216,500.
The property is offered through Century 21 agent Nicola Skinner.
Another three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-berserker-124345574" target="_blank">162 Nobbs Street</a>, Berserker (below) was recently sold for $125,000.
The 607 sqm property was last sold for $217,500 in 2011.
<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/2017/09/12/162%20Nobbs%20Street.jpg" alt="">
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Berserker, Queensland house listed for mortgagee sale

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Lending finance was shaping higher again by July, back up to $71.6 billion in trend terms, to be +6.7 per cent higher than a year ago, and getting pretty close to the highs of 2015.
<div id="post-body-6073029281620770471" class="post-body entry-content">
<div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/09/15/A5.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><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/2017/09/15/A5.jpg" alt=""></div>
 <div>Commercial lending to businesses picked up, which is generally seen to be a good sign, while housing lending to owner-occupiers hit a record high. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/15/A2.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><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/2017/09/15/A2.jpg" alt=""></div>
 <div>Personal lending commitments are tracking back down at levels not seen since 2002.</div>
<div> </div>
<div>This was mirrored by data elsewhere, with the Reserve Bank's statistical tables showing average credit card balances at their lowest level in nearly a decade. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/15/rba.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><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/2017/09/15/rba.jpg" alt=""></div>
 This does not fit the stretched household budgets theme. <div>Investor juggernaut slowed</div>
<div> </div>
<div>Property investment loans are being successfully slowed by regulatory measures, and this is now filtering through into the rolling annual data at the state level. </div>
<div> </div>
<div>Interestingly the credit squeeze may be impacting the states that were already weak more keenly, rather than New South Wales and Victoria, though lending to investors is set to slow across the board. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/15/A1.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><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/2017/09/15/A1.jpg" alt=""></div>
<div class="separator"> </div>
Elsewhere, investor loans are rolling over in the nation's capital.</div>
<div class="post-body entry-content"> </div>
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<a href="https://www.propertyobserver.com.au/images/2017/09/15/A4.jpg" target="_blank">Click to enlarge</a> <div class="separator"><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/2017/09/15/A4.jpg" alt=""></div>
 And in Darwin, err, yikes.</div>
<div class="post-body entry-content"> </div>
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<a href="https://www.propertyobserver.com.au/images/2017/09/15/A3.jpg" target="_blank">Click to enlarge</a> <div class="separator"><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/2017/09/15/A3.jpg" alt=""></div>
 <div>The wrap</div>
<div> </div>
<div>Overall, this was a positive result given the lift in commercial lending to business, while in the property market, lending continues to shift from investors to homebuyers.</div>
<div> </div>
<div>I had a meeting with the brilliant Jonathan Tepper of Variant Perception this week - a considerably smarter fellow than you or I - and it was interesting to compare notes on where Variant sees Australia's economy heading.</div>
<div> </div>
<div>While VP's research reports are confidential to subscribers, their leading index has rolled over on Australia's economy, a major driver of this being the coming downturn in residential construction.</div>
<div>
 Westpac's leading index has followed a remarkably similar trend. </div>
<div> </div>
<div>Residential construction made a very positive contribution to the economy is 2016, but by 2018 Westpac sees this as becoming an equivalently significant drag (and although non-residential building has been picking up, this is expected to be less labour-intensive. </div>
<div> </div>
<div>Job advertisements figures suggest that hiring will remain solid over the next 6 months, but it wouldn't be a shock if rate cuts are back on the agenda in 2018 especially after a weak inflation result for Q4 is released to the market early next year. </div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
<h3 class="post-title entry-title"> </h3>
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
 
</div>
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