Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Joel Robinson

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

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.

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

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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The Allawah Hotel in Sydney's southwest has been sold for about $30 million in private equity style transaction through Ray White Hotels. 
It is believed, but unconfirmed, that White &amp; Partners, the private investment vehicle of Australia's most famous real estate family, has secured the Allawah Hotel.
The hotel is ranked 140 in NSW’s latest Top 200 gaming rankings.
Its sale brings the total number of A-grade freehold hotels sold in Sydney in the past 18 months to 25, selling agent Andrew Jolliffe of Ray White saying he was confident of further market strength given the underlying fundamentals for the sector. 
The Allawah Hotel was sold in an off-market transaction.
It is situated on a 1,274 sqm corner site and close to the Allawah Train Station.
The vendors, parties associated with the Feros family JDA hotels, had owned the property since 2007. It is understood that JDA hotels have retained an ownership percentage and entered into a management agreement with the new purchasing entity. 
"This is uncontroversially a very strong A Grade gaming hotel sale, and consequently is indicative of a transaction which required a different approach than that typically deployed,” said Ray White’s Andrew Jolliffe, who brokered the deal.
The sale was a combination of a “hard asset changing hands, a significant equity refresh event and the implementation of a Management Agreement,” added Jolliffe, saying such deals will will enjoy currency in the future.
Speaking on behalf of JDA hotels, founder John Feros agreed that the private equity style deal structure was something his group had done in the past. 
"We had owned the Allawah Hotel for over a decade and decided the time was right to recalibrate the capital stack" advised Feros. 
"Suffice to say, we're very happy with the deal that has been concluded, and look forward to working with our new investor group to reposition the property so as to seek new value accretion opportunities.”  
Joliffe’s recent sales include the Coolibah Hotel 40 million, and the Tennyson Hotel which was sold to the Justin Hemmes-led Merivale group for $37.05 million.
Both are ranked in the top 60 in the state.
The Ray White Group said it recorded its biggest ever year with $44.7 billion in sales in 2016-17, up four per cent on the previous fiscal year.
 
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jonathanchancellor-7SQnKwU6yx

Southwest Sydney hotel changes hands for about $30 million 

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Online retail sales slowed in July, falling for the second consecutive month, though it still grew higher than traditional retail, according to the NAB Online Retail Sales Index.
The index slowed in July (+0.4% mom s.a.). The slowing in the past couple of months is on the back of the May sales rebound(+1.5%,mom s.a.). 
The year-on-year growth was also slightly weaker in July (8.3%) but remained positive. Trend online retail sales (+0.5%) were slightly more subdued compared to the previous two months (0.6%).
ABS data on traditional retailers showed month on month seasonally adjusted sales up 0.3% in June. However, NORSI was still faster month-on-month.
<a href="https://www.propertyobserver.com.au/images/2017/09/06/NABRetailChart1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/09/06/NABRetailChart1.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/09/06/NABRetailChart2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/06/NABRetailChart2.png" alt="">
“We estimate that Australian consumers have spent around $23.06 billion over the 12 months to July 2017. This is equivalent to 7.5% of spending at traditional bricks &amp; mortar retailers, as measured by the ABS in the 12 months to June 2017,” said NAB in a media release.
Mixed results by category this month, with Department Stores (12.1% yoy July  vs 8.4% yoy June), Grocery and Liquor (7.7% vs 5.4%), Daily Deals (6.5% vs 5.3%), and Fashion (0.7% vs -2.4%) accelerating through the year. 
The largest spend share, Homeware and Appliances (15.4% vs 16.0%) was only slightly slower over the year, and maintains the fastest overall growth position. 
Games and Toys (11.9% vs 12.0%) sales were virtually unchanged while, Media growth halved in the 12 months to July (8.1% vs 16.7%). 
Personal and Recreational (2.0% vs 2.7%), and Food Catering (11.5% vs 13.6%) also slowed but remained positive.
SME sales made up just a little over a third of all online sales. Seasonally adjusted SME sales saw a mild contraction in the month (-0.1%,mom s.a.) despite strong year-on-year growth for SMEs (17.5%).
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Online sales slightly slow in July, but growing over the year: NAB retail index

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A three bedroom Quinns Rocks, Western Australia house has been listed for mortgagee sale.
Located at <a href="https://www.realestate.com.au/property-house-wa-quinns+rocks-126295682" target="_blank">31 Buffett Ramble</a>, the property is marketed as perfect for first home buyers or investors.
Built in 2001 it last sold in 2011 for $350,000.
It features three bedrooms plus central open plan kitchen with breakfast bar.
A dining area leads out onto the rear yard with a pool.
The median price of a house in Quinns Rocks is $445,000, according to CoreLogic.
The property is set for September 30 auction through Casey Winter Real Estate agent Murray Winter.
A nearby three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-quinns+rocks-125485182" target="_blank">33 Morialta Avenue</a>, Quinns Rocks (below) was sold in July for $400,000.
<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/2017/09/04/33%20Morialta%20Avenue.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Quinns Rocks, Western Australia house listed for mortgagee sale

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The former Principal of Sherwin Financial Planners Pty Ltd and Chairman of Wickham Securities Ltd has today pleaded guilty to 25 charges brought by ASIC, arising out of the collapse of his financial planning business.
Bradley Thomas Sherwin, 62, of Everton Hills, Queensland, appeared in the Brisbane District Court, and pleaded guilty to:
<ul>
<li>twenty four counts of dishonestly causing a detriment between May 2009 and December 2012 to the value of nearly $10 million to a number of clients of Sherwin Financial Planners; and</li>
<li>one count of dishonestly breaching his duties as a director of Wickham Securities Limited between June 2010 and October 2010.</li>
</ul>
Mr Sherwin will be sentenced on 14 November 2017.  Mr Sherwin did not apply for bail and was remanded in custody.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
Wickham Securities collapsed in December 2012, owing more than $27 million to approximately 300 debenture holders. 
Sherwin Financial Planners and other companies of which Mr Sherwin was a director collapsed in January 2013, owing more than $30 million to clients of Sherwin Financial Planners.
In May 2016, ASIC permanently banned Mr Sherwin from providing financial services.
In September 2016, the former Chief Executive Officer of Wickham Securities, Garth Peter Robertson, was sentenced to 5 years imprisonment after pleading guilty to various charged brought by ASIC, including fraud.
In June 2013, ASIC cancelled the registration of the auditor of Wickham Securities, Brian Kingston, after forming the view he failed to carry out or perform adequately and properly the duties of an auditor.
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Principal of Sherwin Financial Planners pleads guilty to fraud

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The University of Sydney, Southern Cross University and interior design firm Cachet Group have launched a pilot study into the impact of office design on worker productivity.
The study aims to find out how activity-based office designs affect worker productivity and wellbeing.
Leading the research project is the University of Sydney’s Dr Christhina Candido who runs the Building Occupant Survey System (BOSSA).
She said open plan offices have evolved significantly in Australia over the last few decades as a result of innovative concepts such as activity-based working now becoming the norm.
“We know a lot about the issues around open-plan working, but we need to understand more about how this latest wave of activity-based work environments may affect the productivity of office workers,” she said.
“Typically, it may see workers migrating to team desks, quiet concentration rooms, a variety of meeting rooms, brainstorming areas, multi-media rooms and lounges.
“The advantages of activity-based working have already been widely reported in the property sector but it is time to provide evidence around this growing office trend in Australia."
Wearable technology and analytical software developed by Southern Cross University and the University of Sydney will be used to the responses of workers in a variety of work spaces.
Rowan Hamman, Managing Director of Cachet Group’s Australian operation said the Australian study will provide the research needed to develop an exemplary global practice of work place design.
“It will provide the basis for evidence-based design solutions to increase worker satisfaction,” he said.
“Cachet Group is extremely proud to be a part of this pioneering study with such iconic research institutions for the interior design and architecture field.
"We hope that data collected and information produced from the study will give us, as an industry of professionals, a greater understanding of this subject matter.
“It is also an opportunity for us to give back some of our time, energy and expertise to the industry that has supported our business and our key objective of improving the happiness and wellbeing of everyday Australians through strategic workplace design and innovation.”
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Pilot study into the impact of office design on worker productivity

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Danish jewellery retailer Pandora has leased an entire building on Melbourne's Bourke Street Mall in probably the biggest retail leasing deal in the Melbourne CBD so far this year.
The deal for <a href="https://www.realestateview.com.au/property-360/property/280-282-bourke-street-melbourne-vic-3000/" target="_blank">280-282 Bourke Street Mall</a> was worth nearly $1 million in annual rent. The Pandora deal highlighted the trend of retailers looking to build a strong retail network in the CBD with the company already having a shop nearby on Little Collins Street and a third store within a three block radius.
Pandora will replace US retailer Nine West at the building. The fashion retailer Zara is the neighbour.
Pandora has leased the building in a seven-year deal. However, the retailer will use only the 90 square metre ground floor space for retail, implying that the effective retail rent rate is more than $11,000 per sqm, according to The Australian Financial Review.
The remaining floors of the five-level building will be utilised for storage or other non-retail uses. The building has been owned by the Snowden family since 2004.
The deal was brokered by CBRE who advised there were no vacancies on Bourke Street Mall, which is home to flagship department stores for Myer, David Jones and H&amp;M.
 
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Pandora leases on Bourke Street Mall with $1 million deal

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An iconic building which was home to retailer Walton’s in Brisbane’s Fortitude Valley has been listed. 
The former Waltons department store building, which closed down in 1987, has been owned by investment company Mount Cathy Pty Ltd.
The property is being marketed by Knight Frank’s Christian Sandstrom, Justin Bond and Dominic Ong, along with Glenn Gracie of Glenn Gracie Real Estate.
Sandstrom said the property is likely to attract interest from both local and offshore investors as well as developers.
“The property could suit a large cross-section of buyers looking to undertake a substantial refurbishment for re-adaptive use.
“Alternatively under the local plan a substantial mixed use development including retail, residential or commercial of the site is allowable (STCA), which would incorporate the heritage elements of the existing buildings.”
The property has a site area of 3,489 sqm with frontages to both Wickham and Brunswick Streets.
It has an entry to the Fortitude Valley train station and adjoins the proposed $500 million redevelopment of the Valley Metro Centre.
“The property is improved by a number of classical well-constructed buildings and is well-known as the Walton’s building, which was home to one of Brisbane’s largest retailers Walton’s Limited,” Bond said.
“Similar to the recent investment trends, Fortitude Valley has experienced increased institutional foreign investment from the US, UK, South Korea, Hong Kong and China.”
The property is being sold through an international expressions of interest campaign expected to start in four weeks.
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Former Walton’s building in Brisbane’s Fortitude Valley up for sale

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Melbourne is fast catching up with long-standing rival Sydney in the office leasing market, according to Cushman &amp; Wakefield.
An influx in planned supply in Melbourne will bring overall stock levels within 100,000 sqm of Sydney by 2021, the first time ever the gap has been this narrow (last was 400,00 sqm in 1992), it says.
Sydney, often considered the corporate capital and global property hub of Australia, previously benefited from disparity between both the size and quality of available office space. 
However, today despite Sydney’s 5.1 million sqm of net lettable CBD office space compared to Melbourne’s 4.6 million sqm, and a tighter office market in Sydney with vacancy rates of 5.9% compared to 6.5% in Melbourne, the most noticeable difference is in average prime rent, according to Cushman &amp; Wakefield.
While rental growth continues in both markets, CBD office space in Melbourne still remains markedly less expensive than Sydney. 
Average Prime net effective rents in Sydney is currently $720 per sqm across the CBD, whereas the equivalent Melbourne rent is practically half, at $370 per sqm. 
<a href="https://www.propertyobserver.com.au/images/2017/09/03/SydVsMel.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/03/SydVsMel.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/09/03/SydVsMel2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/03/SydVsMel2.png" alt="">
Alongside rent, an assortment of factors have helped close the gap in attractiveness. 
The Victorian government’s proactive approach to development and construction has seen net office supply grow at nearly three times the pace of Sydney over the past 5 years, according to the real estate firm. 
This will continue with significant disparity between the net negative forecast supply in Sydney (- 15,250 sqm) and the additional 435,000 sqm forecast supply entering Melbourne between 2017 and 2021.
This projected supply will significantly alter overall office volume, and in 2021 Melbourne office stock will come within approximately 100,000 sqm of Sydney. 
For perspective, the previously narrowest gap was approximately 400,000 sqm in 1992, and since 1990 the average gap has been circa 800,000 sqm. Beyond 2021, the proposed increased supply for Sydney will see this gap shift to a more traditionally balanced level. 
Whilst the Melbourne office market doesn’t incorporate major submarkets like Sydney, the abundance of newly built and renovated quality stock is bringing business to the CBD. 
“We are seeing large occupiers take a renewed interest in the CBD. They are gravitating from fringe areas like Richmond, Hawthorn and St Kilda Road back to the CBD for unsurpassed access to a wider talent pool and better amenities,” said Chas Keogh, joint head of Office Leasing Victoria.
Tim Courtnall, head of Office Leasing NSW added that “for the first time following the GFC we are seeing a shift from the importance of cost efficiency towards people and culture”. 
Many companies feel a renewed sense of confidence and are comfortable committing to a longer lease with many also upgrading their space to provide a competitive edge in today’s war for talent, he said. 
Despite the strong rental growth in Sydney’s CBD, firms are going after prime grade office space in superior locations with the best amenities to be competitive in targeting talent. 
While Melbourne’s significant population growth and attractiveness of cheaper prime grade rent has its appeal, Courtnall said he is yet to see companies relocating head offices to Melbourne as a result, and believes Sydney remains the preferred location for global financial and tier 1 technology firms. 
Highlighting the point, Cushman &amp; Wakefield recently secured space for two leading corporates that have chosen to expand their footprint or relocate within the financial core of Sydney’s CBD, despite steadily growing rents. 
RCR Building Services relocated from 50 Bridge Street in the Sydney CBD due to demolition, opting to lease two floors (2,410 sqm) in one of Sydney’s most iconic premium buildings, 1 Macquarie Place, Gateway. Growing fintech player, SocietyOne, also recently secured an entire floor in 45 Clarence Street, taking 44% more space and a higher effective rental. 
With both cities offering appealing lifestyles, and the range of office products becoming increasingly aligned, whether expanding an existing Australian footprint, relocating, or entering the Australian market, Melbourne’s eclectic appeal and Sydney’s celebrated locale is enticing to both investors and occupiers. 
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Melbourne closes in on Sydney in office stock: Cushman & Wakefield

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<img src="https://counter.theconversation.edu.au/content/82644/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
One of the byproducts of landfill is “landfill gas”, a mixture of mostly methane and carbon dioxide generated by decomposing organic material.
Methane is a particularly potent greenhouse gas, but it can be captured from landfill and used to generate clean electricity.
Methane capture is a valuable source of power but, more importantly, it can significantly reduce Australia’s methane emissions. However the opportunity to produce energy from waste is largely being squandered, as up to 80% of the potential methane in waste is not used. 
If more councils were prepared to invest in better facilities, Australians would benefit from less waste in landfill and more energy in our grids. Even the by-product from using state-of-art processing methods can be used as a bio-fertiliser.
And while these facilities are initially more expensive, Australians are generally very willing to recycle, compost and take advantage of community schemes to reduce waste. It’s reasonable to assume that a considerable percentage of our population would support updating landfill plants to reduce methane emissions. 
<h2>Recycling in Australia</h2>
Australia may have a bad rap when it comes to waste recycling, but there are plenty of positives.
Australians produce approximately 600 kilograms of domestic waste per person, per year – no more than most northern European countries, which set the benchmark in sustainable waste management. 
Looking at kerbside bins we, on average, recycle 30-35% of that waste, saving much of our paper, glass, aluminium and steel from landfill (which also saves and reduces emissions). 
Although the household recycling rate in Australia is less than the best-performing EU recycling rates of 40-45%, this is primarily due to a lack of access to (or awareness of) schemes to recycle e-waste and metals. Data therefore suggests that at the community level, there is a willingness to minimise and recycle waste.
Between 55% and 60% of kerbside waste sent to landfill in Australia is organic material. Over 65% of this organic fraction is food waste, similar to the make-up of the EU organic waste stream, comprised of 68% of food waste. 
Despite this large fraction, approximately half of the household organic we produce – mostly garden waste – is separately collected and disposed, again demonstrating high participation by the community in recycling when collection and disposal options are available. 
<h2>Turning waste into energy</h2>
Energy recovery from waste is the conversion of non-recyclable material into useable heat, electricity, or fuel. Solid inorganic waste can be converted to energy by combustion, but organic waste like kitchen and and garden refuse has too much moisture to be treated this way. 
Instead, when organic waste is sent to landfill it is broken down naturally by microorganisms. This process releases methane, a greenhouse gas 25 times more potent than carbon dioxide. 
Around 130 landfills in Australia are capturing methane and using it to generate electricity. Based on installed power generation capacity and the amount of waste received, Australia’s largest landfills use 20-30% of the potential methane in waste for electricity generation. 
Ravenhall in Melbourne processes 1.4 million tonnes of waste per year, and proposes to generate 8.8 megawatts (MW) of electricity by 2020. Roughly 461,000 tonnes of waste goes to Woodlawn in NSW, and in 2011 it generated 4MW of electrical power. Swanbank in Queensland receives 500,000 tonnes a year and generates 1.1MW. 
The remainder of the methane is flared due to poor gas quality or insufficient transmission infrastructure, is oxidised as it migrates towards the surface of the landfill, or simply escapes. The methane generating capacity of waste is also diminished because organics begin composting as soon as they reach landfill.
But there are more efficient ways to capture methane using specialised anaerobic digestion tanks. The process is simple: an anaerobic (oxygen free) tank is filled with organic waste, which is broken down by bacteria to produce biogas. This is similar to the natural process that occurs in landfill, but is much more controlled and efficient in a tank.
The biogas can be combusted to produce electricity and heat, or can be converted to pure biomethane to be used either in the mains gas grid, or as a renewable transport fuel. In contrast to landfills, 60-80% of the methane potential of waste is used to generate electricity in anaerobic digesters, with most of the remainder used to power waste handling and the digestion process. 
The nutrient-rich sludge that remains after anaerobic digestion, called digestate, is also a valuable biofertiliser. It can support food production, and further reduce greenhouse gases by decreasing our reliance on energy-intensive manufactured fertilisers. 
The use of food waste as a feedstock for anaerobic digestion is largely untapped in Australia but has huge potential. A site in Sydney’s geographic centre (Earth Power Technologies) and Richgro’s Jandakot facility near Perth are part of a handful that are converting food waste to energy using this technology.
<h2>The future of organic recycling</h2>
Local council recycling and waste infrastructure is typically not a priority election issue, except for those close to existing or proposed landfills. 
Ratepayers are generally not informed of the possibility of separately collecting food waste, either for industrial-scale composting or methane capture. We have the right to this information, with costs and benefits presented in the context of the costs we already pay for waste management, and relative to the environmental performance of landfill.
As an example, landfill operators often promote the number of homes they power by electricity generated from methane as a key measure of sustainability. But how does this compare to the electricity and heat that might be obtained from an anaerobic digester that processes the same waste? 
Given the choice, the Australian community may have an appetite to extend organic recycling beyond well-established garden waste composting. They only have to be asked.
<a href="https://theconversation.com/profiles/william-clarke-380521" target="_blank">William Clarke</a> is professor of waste management, The University of Queensland.
<a href="https://theconversation.com/profiles/bernadette-mccabe-147872" target="_blank">Bernadette McCabe</a> is Associate Professor and Principal Scientist, University of Southern Queensland.
Both are authors for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Capturing the true wealth of Australia’s waste

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BRW Rich Lister Arthur Laundy has sold off his Bateau Bay Hotel on the NSW Central Coast.
It fetched around $13 million after buying it two years ago for nearly $11 million.
The Bateau Bay Hotel, one of 19 NSW venues owned and managed by Laundy Hotels, was bought by a local north coast pub group.
"Pubs are going very strong. It's definitely a sellers market ... I am cashing in on the prices being paid at the present time," Laundy was cited as saying by the Australian Financial Review.
"If the right price came along, I would sell more [from my portfolio].” 
The sale was on a sub 10 per cent yield.
"The Bateau Bay Hotel been a solid business, but given we have a few projects on the go at present thought it was the right time to sell,” Laundy said.
The off-market deal was brokered by CBRE Hotels’ Daniel Dragicevich and Ben McDonald. 
The deal shows the strength of the NSW coastal pub market following the recent sales of the Swansea Hotel in Lake Macquarie and the Country Club in Shoal Bay, said McDonald.
"The sale of Bateau Bay, both in quantum of dollars and initial yield, adds weight to the flow of transactional activity in coastal pub markets at levels traditionally reserved for metropolitan assets," Dragicevich said.
Pubs in the region on the market include the Premier Hotel in Newcastle.
Other high-profile pub owners too are taking Laundy’s view on the current market. Geoff Dixon and John Singleton's Australian Pub Fund recently sold the Vic on the Park hotel in Enmore, Sydney, for about $20 million.
"It makes sense that if the Sydney market is closing in on 8 per cent cap rates, that hotels within two hours of the CBD in markets such as the Central Coast are selling at rates of 10 per cent or sharper,” Dragicevich said.
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