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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A commercial building with potential for development located in Melbourne inner suburb Richmond is going to auction with expectations of more than $1.2 million.
The <a href="https://www.realcommercial.com.au/property-retail-vic-richmond-502537226" target="_blank">221 Swan Street</a> property is within walking distance of East Richmond Railway Station and within 3 kilometres of the CBD.
It will be auctioned on September 27 through Teska Carson.
The 209 sqm site is zoned Commercial 1 under the City of Yarra Planning Scheme.
The Commercial 1 Zone promotes mixed use commercial centres for retail, office, business, entertainment and community uses, as well as residential uses at densities complementary to the role and scale of the commercial centre.
Improvements include a single level retail/workshop/showroom building.
<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/TeskaCarsonMel.jpg" alt="">
According to marketing agents, Teska Carson’s Tom Maule and Larry Takis, the property can suit both an owner-occupier or investor, but it may be of most interest to developers looking at its considerable potential for a mixed use development subject to council approval.
"There is very strong demand for any property with development potential in the inner suburbs and especially those with main street frontage and Commercial 1 zoning,” Maule said.
He said the land was located within the City of Yarra’s Swan Street Structure Plan which identified Swan Street East as a major activity centre.
The property will be sold with vacant possession.
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j.ballantyne1990-6AQqhLzZaK

Richmond site with development potential to go under the hammer

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A historic building on Melbourne's Queen Street has been listed for auction.  
Located at <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502505566">375 Queen Street</a>, the property was built in 1860 and was occupied earlier by the Bank of NSW.
It last changed hands for $1,840,000 in 2013, according to Corelogic RP Data. It is expected to fetch under $3 million.
The building was in the news in 2009 when the council shut down the Rajah Sahib Tavern restaurant which was occupying the site, Fairfax Media reported.
Rajah Sahib Tavern was controlled by immigration agent Larry Mendonca. In 2013, his former girlfriend and landlord of 375 Queen Street – the property for sale – was trying to evict Mendonca from using office space in the building.
Prior to that, rock singers Mick Jagger and Elton John visited the building when another restaurant was being run on the premises.
The building features a façade with a dual street frontage of 20 metres.
The property has direct access to the Melbourne CBD and is close to Flagstaff Gardens and public transport.
The double storey, corner building is currently vacant and is ideal as an office headquarters, hospitality or luxury residence, according to its description.
It is set to benefit from the $250 million renewal of the QVM opposite the property.
The property will be auctioned on September 13 and is being offered through Colliers International agents Oliver Hay, Daniel Wolman and David Sia and Knight Frank agents George Burbury and Andrew Hansen.
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Historic commercial Melbourne building listed for auction

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Governments are busily rezoning our cities for high-rise apartments. The New South Wales government, for example, plans to rezone a 20-kilometre corridor in Sydney, from Sydenham to Bankstown, for urban density, in concert with a new metro rail line. Residents and community groups have reacted vociferously to the prospects of high-rise buildings in previously low-density suburbs.
But there is another, overlooked dimension to the redevelopment. Much of it is on industrial land: pockets of old factories and workshops, portrayed as decrepit and in need of renewal.
Our new project documents enterprises that actually use urban industrial lands. It’s a story of surprising and largely hidden vibrancy at the interface between creative industries and small manufacturing.
Planners and economic developers tend to assume manufacturing has left central cities and that manufacturing enterprises can simply locate to city-fringe greenfield sites. In reality, manufacturing is changing form, and often depends on – and benefits from – urban industrial lands.
Despite the scale of renewal plans, no detailed knowledge exists of what will be lost, or of existing enterprises’ needs.
Manufacturing has a new, creative face
In planning reports for renewal strategies, industrial zones are seen as redundant because it’s assumed that manufacturing is in a state of inevitable decline. This is false and misleading.
Employment, exports, enterprise formation and R&amp;D investment statistics all point to manufacturing’s endurance, as well as its transformation and increasingly diverse character.
Most manufacturers these days are small, agile and creative. Manufacturing is increasingly interwoven with creative industries, through innovation-driven additive manufacturing, craft-based production, and bespoke maker scenes.
Cities such as New York and Portland are actively planning for this, because they recognise that the creative-manufacturing interface generates jobs, assists place marketing, contributes to liveability and enlivens local communities.
Creative-manufacturing favours older industrial sites
There is, however, a planning dilemma cities must face. Enterprises at the interface tend to locate in inner-city industrial zones. This is where other relevant enterprises are co-located and buildings are more suitable, often older and lower rent, with limited restrictions on noise.
Like-minded micro-enterprises sub-let workshops or pods within older factory complexes. They cannot afford commercial rents in stand-alone buildings. Older industrial zones also provide access to distribution and business networks, cultural venues and institutions, and final markets.
These are the very zones favoured for major “renewal” schemes. In practically every case, this means medium- and high-rise apartments. Retail space is provided, typically at ground-floor level (which often sits vacant for months or years).
Ironically, the presence of creative industries helps sell real estate. But such renewal schemes rarely, if ever, provide replacement workshop space zoned for industrial uses.
Carrington Rd, an unassuming creative-manufacturing hub
Our new report documents enterprises in one such industrial precinct in Marrickville, inner Sydney, that’s slated for redevelopment. A single 700-metre-long stretch of Carrington Road is home to more than 200 diverse micro-enterprises and small manufacturers.
These have strong local ties, employing an estimated 1,800 workers. Fifteen discrete enterprise clusters thrive there. These include theatre production, puppet and prop-making, furniture restoration, fashion and textiles.
What underpins this pre-eminent creative-manufacturing interface precinct? It’s a combination of affordability, sympathetic landlords, industrial land use zoning, and a mix of small and large factory spaces with suitable features.
Proximity to the CBD, media corporations, major entertainment venues and iconic cultural institutions is vital. That’s because these firms supply stage sets, install event equipment, rent studios for photography, television and film shoots, and perform at corporate functions.
The social and cultural milieu of surrounding areas is also crucial. These areas generate nearby markets for locally made fashion, jewellery and ceramics.
No consultation on a looming loss for the city
Shockingly, enterprises in industrial zones potentially affected by this latest renewal strategy are not being consulted before rezoning.
NSW Planning and Environment commissioned a consultancy firm to investigate employment impacts of proposed redevelopments throughout the Sydenham-Bankstown corridor. The report was a desktop study. Detailed site inspections “were not undertaken nor interviews or consultation with businesses in the Opportunity Sites”.
When we visited Marrickville’s creative-manufacturing enterprises, it became clear none had been consulted about the details of renewal plans for the precinct. They were unaware the closing date for public submissions was imminent.
Creative micro-enterprises and small manufacturers reported that city fringe relocation is not feasible. Rezoning this industrial space, one of inner Sydney’s last, may force enterprises to close altogether. Others said they would move overseas.
The loss for Sydney could be tragic. As one artisan said: "If all the people who worked on this street worked in one company and were sacked, it’d be national headlines."
Similar processes are under way in Melbourne’s inner north, an iconic part of that city’s cultural profile. Rezoning in the name of urban density has given a green light to the conversion of old light industrial buildings into residential developments.
So, just as Creative Victoria establishes a Collingwood Arts Precinct to host creative practitioners, tenants next door have been evicted to make way for a 12-storey apartment block. The developer has now objected to the potential noise from local venues.
Learning from other global cities
Our project’s next phase is to explore how other global cities foster creative and manufacturing enterprises.
Chicago has planned manufacturing districts and Portland, Oregon, has industrial sanctuaries. These are long-standing and successful examples of industrial land preservation. The German zoning system has also long mixed “non-disturbing” industry with other uses.
San Francisco’s production, distribution and repair (PDR) zone attempts to accommodate the growth of small manufacturers. New, higher-rent office development cross-subsidises lower-rent industrial space. Austin, Boston, Los Angeles and Nashville in the US and Vancouver, Canada, are pursuing similar policies.
In China, Shenzhen, the 21st-century “workshop of the world”, is looking to the “creative economy” not to replace but to enhance Chinese manufacturing prowess.
While growing cities like Sydney clearly need to plan for housing, another conversation in our cities is needed, not just about high-rise redevelopments, but about what’s at stake when industrial lands are rezoned.
Chris Gibson, University of Wollongong; Alexandra Crosby, University of Technology Sydney; Carl Grodach, Queensland University of Technology; Craig Lyons, University of Wollongong; Justin O'Connor, Monash University; Xin Gu, Monash University 
The discussion appeared in <a href="https://theconversation.com/can-our-cities-thriving-creative-precincts-be-saved-from-renewal-83042?utm_medium=email&amp;utm_campaign=Latest%20from%20The%20Conversation%20for%20August%2030%202017%20-%2081866652&amp;utm_content=Latest%20from%20The%20Conversation%20for%20August%2030%202017%20-%2081866652+CID_a8078e42d468edbf1d13a3574d52dfb3&amp;utm_source=campaign_monitor&amp;utm_term=Can%20our%20cities%20thriving%20creative%20precincts%20be%20saved%20from%20renewal" target="_blank">The Conversation</a>.
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Can our cities’ thriving creative precincts be saved from ‘renewal’?

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Commercial property sector returns and capital growth eased in the year to June from the previous year, recent figures from the Property Council/IPD Australian All Property Index, released by MSCI, show.
Leading index provider and analytics firm MSCI Inc. recorded an annual 11.9% total return for Australian property to June 2017,  a step down from 13.4% in June 2016. 
While the number indicates that the commercial property market is still strong, it has stabilised in recent quarters, according to a media release.
The index covers 1396 assets across all the sectors of office towers, shopping centres, industrial property, healthcare and hotels.
That the market had cooled off slightly, was evident from the drop in both income return (down from 5.6% to 5.0%) and capital growth (6.6% to 5.6%) between June 2016 to June 2017. 
However, office markets outperformed, driven by strong capital growth in Sydney (10.9%) and Melbourne (5.8%).  Perth continued to soften, with negative annual capital growth of -2.7%, but Brisbane showed positive growth of 1.9% in the office sector. 
MSCI also noted that “strong market movements in Sydney office rents have not translated into higher income returns for investors as capital growth has continued to outpace income growth”. 
Valuations are however clearly reflecting changing rental assumptions, it added. 
Summing it up, Mitchell McCallum, vice-president for MSCI, said the results show that “markets have stabilised in recent quarters, although we continue to see strong growth, especially in the non-core sectors, with Healthcare showing a record annual total return of 25.1%”.
“The limited scale that the non-core sectors currently offer in Australia has contributed to the interest we are now seeing in the build-to-rent sector as a viable option,” said McCallum. 
MSCI’s global property database illustrates that this is not a new idea, as it is a substantial sector in other global markets, making up 50% of MSCI’s national database in the Netherlands, 23% in the US and 6% in the UK, to highlight a few. The lower yields have generally been offset by a strong capital growth profile. Over 14 years the residential sector has recorded a 7% total return on average across global markets, added McCallum.
Other highlights from the index:
<ul>
<li>Super and major Regional Shopping Centres were the only retail sub-sector with a higher return than for June 2016, with some of the largest shopping centres changing hands over the past year. </li>
<li>The Hotels and Healthcare segments were still performing very strongly, showing total returns of 22.8% and 25.1% respectively. </li>
<li>As tightening cap rates and lack of stock have fueled demand for other none core property options, build-to-rent has seen a major surge in Australia. </li>
</ul>
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prateek24-ezbwHMbNAk

Australian commercial property market stabilising after strong growth: MSCI

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<div>An interesting week indeed for Australian econofans, with an emphatic rebound in engineering construction reported for the second quarter of the calendar year, driven by Western Australian resources projects (or, at least, one project). </div>
<div> </div>
<div>Then on Thursday, a +0.8 per cent quarterly increase to $28.3 billion was reported for private new capital expenditure, which is not something we've been able to say too often over the past five years! </div>
<div> </div>
<div>The increase was largely driven by a +2.7 per cent uplift in expenditure on plant and equipment to $12.5 billion. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/04/C1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
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<div class="separator"> </div>
<div>The improvement lately has been as much about a steadying of the resources states as anything else, although Victoria is now seeing a relatively strong expansion in investment. </div>
<div> </div>
<div>Only a tiny fraction of the lift in investment in Victoria has been driven by mining or manufacturing, instead being overwhelmingly accounted for by services industries and other sectors. </div>
<a href="https://www.propertyobserver.com.au/images/2017/09/04/C2.jpg" target="_blank"> Click to enlarge</a>
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<div>Perhaps more importantly, the outlook is brightening, with a +17.6 jump in the third estimate for FY2017-18 capital expenditure to just under $102 billion (against market expectations of less than $96 billion, so that's a significant beat). </div>
<div> </div>
<div>Mining investment plans have lifted - though remaining unsurprisingly as subdued compared to the heady peak - while services and other selected industries are beginning to hit their straps, with an increase of +18.6 per cent on prior year expectations. </div>
 Construction confounds 
<div>AIG's industry surveys, which report on the direction of industry sectors relative to a neutral reading of 50, now record a very strong expansion in the massive services sector (56.4), while manufacturing (59.8) is expanding at the fastest pace in 15 years. </div>
<div> </div>
<div>A salient concern in 2016 was that a disorderly drop in residential construction could lead to widespread unemployment and the strong multiplier effect of that industry going into reverse. </div>
<div> </div>
<div>And yet the construction sector is now top of the pile, with a survey reading of a blistering 60.5 in July. What gives?</div>
<div> </div>
<div>I was down in Sydney this week, and was struck by the burgeoning use of serviced and other office space - you can't help but notice the difference from 2012, when office space was abundant and activity appeared moribund. </div>
<div> </div>
<div>Anecdotal, yep, and yet this has become of the key drivers of the construction outlook. </div>
<div> </div>
<div>Building approvals for office buildings, educational space, and other commercial construction are absolutely flying in New South Wales and Victoria, sending the annual dollar value of non-residential building approved nationally to the highest level on record. </div>
<div>
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<div class="separator"> </div>
</div>
<div>And while high-rise apartment approvals have, as expected, dropped by a quarter, there has been a more sustainable rebalancing towards approvals for townhouses, boutique apartment blocks, and detached housing.</div>
<div> </div>
<div>A bit of reluctant credit where it's due, too: the manufacturing surveys pointed to an uplift in infrastructure investment as a key driver of the rebound, responding to the ramp up in budget spend. So, a small hat tip for Treasurer ScoMo there, too. </div>
<div> </div>
<div>New phase</div>
<div> </div>
<div>With capital expenditure and engineering construction no longer in material decline after five years of pain, it's fantastic to see the services and manufacturing industries coming to the party to rebalance the economy.</div>
<div> </div>
<div>The only people forecasting an imminent recession now are apparently doing so more in hope than expectation, and the unemployment rate is steadily declining back towards the 4 to 5 per cent range. </div>
<div> </div>
<div>With almost all indicators pointing to improving rather than deteriorating economic conditions ahead, the economy and our housing markets are moving into a new phase, with the household sector to become the main point of focus. </div>
<div> </div>
<div>Specifically there will be a great deal of analysis of household debt, and how households cope with the prospect of a normalisation of interest rates from the end of 2018 forth. </div>
<div> </div>
<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>.
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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pwargent-M4siyDbqQY

Mining cliff Rest In Peace: Pete Wargent

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An IGA-anchored convenience centre in Brisbane’s Everton Hills has sold to private investor for $7.7million in a deal brokered by Savills.
The shopping centre, On Q Centre, has a gross lettable area of 2,019 sqm and the transaction reflects an initial yield of 6.7%.
Everton Hills is located in the Hills District of northern Brisbane.
The centre features a prominent 5,035 sqm site located at the corner of Queens and South Pine Road.
The deal was negotiated by Jon Tyson and Michael Harcourt of Savills following an on market expressions of interest campaign.
Tyson said the On Q Centre had a high exposure location due to its corner position on two main roads.
It has a mix of retail, service and medical oriented tenancies.
“Well located convenience centres like On Q Centre continue to be highly sought after by a range of buyer groups primarily including private investors smaller fund managers and property syndicates,” Tyson said.
On Q Centre is the latest in a string of South East Queensland convenience centre sales brokered by Savills during the first half of 2017, added Harcourt.
Others brokered by Savills this year include Wynnum West Shopping Centre for $7.88 million, Pinnacle Pines Shopping Centre for $19.7 million and a Red Rooster-anchored convenience centre in Narangba for $4.2 million.
“This sustained level of activity clearly indicates that investor demand for centres of this nature remains solid as we enter the second half of the calendar year,” Harcourt said.
Recently, two adjoining commercial properties in the Brisbane suburb of Kangaroo Point, opposite the Shafston Hotel, were snapped up for $1,940,000 in an off-market deal through Savills.
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jonathanchancellor-7SQnKwU6yx

Brisbane convenience centre sells for $7.7 million through Savills

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GUEST OBSERVER
Insurance bonds offer the simplicity of creating lasting inheritances and inter-generational wealth transfers.
As you can structure insurance bonds with vesting dates out to a child’s 25th birthday, it can be a simple and cost-effective way to create lasting inheritances as well as use them to achieve inter-generational wealth transfers.
An insurance bond can play an important role in arranging an estate’s affairs with certainty, and importantly you can use the bond either outside, or in conjunction with normal Will and legal estate arrangements.
For instance, with an automatically investing bond:
• Parents in blended family situations and in second marriages might make financial provision outside of their Will for the children of a previous marriage or relationship; and
• Grandparents might use them to prevent potential conflicts and inequities between classes of beneficiaries (e.g. children vs. grandchildren) that might be difficult to handle under their Will.
Also important is that prior to its vesting, the bond owner retains full ownership and control just in case there is a change of mind about the child, or a change in the bond owner’s financial situation. This includes being able to make full or partial withdrawals for the owner’s personal use.
An insurance bond can be used in estate planning to achieve similar inter-generational wealth transfer objectives instead of creating a testamentary trust under a Will.
Importantly, this can be done with the bond directly vesting in favour of the Nominated Child irrespective of the death of the person who has established the bond such as a parent or grandparent.
An insurance bond is subject to the Life Act. If a parent or grandparent dies during the bond’s accumulation stage, then their personal legal representative must hold the bond in trust for the Nominated Child until the vesting age, or until the child’s prior death.
Over the period the bond is held in trust under the Life Act - similar to how a testamentary trust typically works – the bond can only be operated for the maintenance or benefit of the Nominated Child.
To achieve similar outcomes using a testamentary trust not only requires creating the trust under your Will, but also appointing a willing and “investment-competent” trustee to act, and sometimes for many years.
Setting up a trust can also be impracticable for smaller dollar bequests, and trust structures also entail annual administration and tax reporting costs and can be inflexible to access and costly to unwind.
Investment bonds are a low maintenance investment with tax and cost-effectiveness, and operates in a “Set-and-Forget” tax environment (nil tax return requirements unless withdrawal made in first 10 years).
Richard Atkinson is head of IFA product at <a href="https://www.austocklife.com" target="_blank">Austock</a>.
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jchancellor-FAypfDUnLy

A solution for smooth wealth transfer between the generations

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The Swiss AFIAA (Foundation for International Real Estate Investments) has broadened its interest in the Australian real estate market with an “asset swap”. 
The company has bought an office building in Melbourne’s <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-502382946" target="_blank">628 Bourke Street</a> (above) for its property portfolio for around $181 million. The seller is M&amp;G Real Estate Asia. 
In return, AFIAA has sold its “HQ South” office building at <a href="https://www.commercialrealestate.com.au/property/520-wickham-street-fortitude-valley-qld-4006-2013471731" target="_blank">520 Wickham Street</a> (Fortitude Valley) in Brisbane, which measures nearly 14,000 sqm, to the investor for $119 million. 
<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/AFIAA_BrisbaneHQ.jpg" alt="">
The Melbourne property is in the CBD and offers around 23,400 sqm of office space and 940 sqm of retail space. Both the lift lobbies and individual floors have been renovated in recent months. One of the key tenants is the insurance company QBE.
AFIAA chief executive Ingo Bofinger said the group was planning further acquisitions in central metropolitan locations as part of its growth strategy. 
“The transaction is a prime example for the implementation of our focus strategy: We are investing the sale price received for HQ South of around AUD 119 million in a larger property in Melbourne, where we already have two more properties,” Bofinger said.
“We are eying further potential to increase rents in excellent locations in Melbourne in particular.” 
Potential properties also include real estate with development potential whose value added is to be enhanced by asset management using refurbishment measures.
In Australia, AFIAA also owns properties in Sydney in addition to two other properties in Melbourne’s CBD. 
AFIAA is an investment foundation under Swiss law that invests foreign real estate assets. Forty-five Swiss pension funds currently invest directly in prime foreign properties through AFIAA. The properties in Australia are centrally managed by the AFIAA office in Sydney. 
The legal consultant for the acquisition and sale was Mills Oakley. 
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Swiss AFIAA Foundation does an asset swap deal, buys in Melbourne, sells Brisbane HQ to realty investor 

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Centuria Metropolitan REIT, Australia’s largest metropolitan office REIT, announced its inclusion on the S&amp;P/ASX 300 Index from the start of trade on September 18.  
The S&amp;P/ASX 300 Index includes up to 300 of ASX-listed entities by float-adjusted market capitalisation and provides a widely-used benchmark for many general equities and real estate specific institutional investors.
“We have previously indicated it was our goal to be included in the Index. We’re delighted to have achieved this milestone, thanks to the support of our securityholders,” said Nicholas Blake, trust manager of the REIT.
“Inclusion in the index will enhance CMA’s relevance within the Australian equity market and generate increased institutional investor interest.”
The ASX inclusion caps an eventful year for the real estate investment trust. It  merged with Centuria Urban REIT (CUA), posted a statutory net profit of $37.7 million in the financial year 2017, and also completed a $90 million capital raising, increasing CMA’s market capitalisation to over $500 million.
Recently, the REIT bought three commercial properties in Perth, one of them being the Hatch building (below) and Melbourne for a total of $150 million. 
Centuria Group entity Centuria Industrial REIT (ASX: CIP) is included in the S&amp;P/ASX 300 Index, while Centuria Capital (ASX: CNI) is a potential candidate for inclusion at a future rebalance.
“The inclusion of the REIT in the ASX/S&amp;P 300 Index is an important milestone for CMA, which was launched in December 2014. Combined with our $1.6 billion unlisted property syndication business, we now have three distinct property investment platforms that can grow independently. This enhances the group’s overall growth prospects,” said Group CEO John McBain. 
 
 
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Centuria Metropolitan REIT added to S&P / ASX300 index 

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A development site in Melbourne’s Box Hill has been sold to a local development group with Chinese connections for $13.5 million through Savills in an off-market deal.
The transaction follows a recent spate of sales along Prospect Street as the precinct continues its transition from commercial to high-rise residential development, according to Savills.
The property at <a href="https://www.domain.com.au/property-profile/31-35-prospect-street-box-hill-vic-3128" target="_blank">31-35 Prospect Street</a> is a rectangular site with an area of 1,653 sqm.
It is used as an open air car park generating income of nearly $45,000 per annum.
The property is situated within the rapidly changing “Major Development Precinct” of Box Hill with development height potential of at least 20 levels.
The deal was brokered by Savills’ Clinton Baxter and Nick Peden.
The selling price reflects a strong rate of $8,166 per sqm.
Baxter said that the site was snapped up by an under bidder following the agency’s recent $12.19 million sale of nearby 15-17 Prospect Street, and $22.25m sale of 843 Whitehorse Road.
<a href="https://www.propertyobserver.com.au/images/2017/09/05/BoxHill1.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/09/05/BoxHill1.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/09/05/BoxHillNew.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/05/BoxHillNew.png" alt="">
“We are experiencing unprecedented developer interest in Box Hill as the market seeks to take advantage of the greater height allowances within the Activity Centre and the huge demand for apartment living within walking distance of Box Hill Central Shopping Centre ” Baxter said.
Peden added that the property was held by a local private family for many decades.
 
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