New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

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]

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

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 redundant Toorak tennis court block was the nation's top selling auction result.
The $7.8 million sale secured a 773 sqm <a href="https://www.domain.com.au/16-stradbroke-avenue-toorak-vic-3142-2013758331" target="_blank">Stradbroke Avenue</a> block.
It was sold by the neighbours on the eastern side who had paid $710,000 in 1996 and then knocked down the house.
The sale was almost $2 million above the reserve price of $5.9 million.
It was sold on Saturday morning to a local Toorak family for $7,805,000 after a June pre-auction sale fell over at around $6 million. 
Auction activity increased across the combined capital cities over the past week with 2,239 homes taken to auction.
It was the largest number of auctions held since the first week of June, CoreLogic auction analyst Kevin Brogan said.
 The larger volume of auctions returned a preliminary auction clearance rate of 71.1 per cent, up from last week’s final results when 2,064 auctions were held and 69.8 per cent cleared. 
Over the corresponding week last year, the clearance rate was 74.5 per cent when 2,153 auctions were held.
"It is expected as more results are collected that the final auction clearance rate will revise lower to remain within the high 60 per cent range, where clearance rates have been tracking since early June," Brogan said.
 Melbourne's 1116 offerings ranked as the highest volume of auctions for the weekend and then the highest clearance rate of 73.8 per cent.
The city's highest house sale was at Glen Iris when <a href="https://www.realestate.com.au/sold/property-house-vic-glen+iris-126078254" target="_blank">a 2011-built five bedroom house</a> fetched $5.77 million.
The 1000 sqm Anthony Street block had sold at $1.83 million in 2009.
The Glen Iris home of three-time track and field Olympian Lauren Fox, nee Hewitt, was passed in on a $2.85 million vendor bid.
Marshall White agent Zali Reynolds said <a href="https://www.realestate.com.au/property-house-vic-glen+iris-126046346" target="_blank">the 1920s Britten Street home</a> was for sale at $3.15 million.
Sydney’s preliminary clearance rate increased to 71.6 per cent across a higher volume of auctions week-on-week (814).
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The highest notified Sydney price across its 644 auction results was $7.11 million on Macquarie Street, in the Sydney CBD.
It was a <a href="https://www.domain.com.au/1503-61-macquarie-street-sydney-nsw-2000-2013752867" target="_blank">three bedroom penthouse</a> in the late 1990s Pullman Quay Grand featuring Circular Quay and Botanic gardens views from its 242sqm space.
It had previously sold at $3.7 million in 2012.
Last week’s final figures saw 67.8 per cent of the 720 auctions cleared, which was down on one year ago, when 788 auctions were held across Sydney at a 78.5 percent clearance rate.
Sydney's CBD and Inner South region recorded the strongest clearance rate of 80.6 per cent across 81 auctions.
The preliminary clearance rate in Brisbane was 45.4 per cent, similar to the 45.1 per cent over the previous weekend.
Auction volumes were similar with 138 auctions held, as against 135 last weekend. 
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Adelaide recorded a preliminary clearance rate of 75.5 per cent across 68 auctions this week, up from 62.4 per cent across 98 auctions last week. 
Over the corresponding week last year, 83 Adelaide homes were taken to auction, with 63.3 per cent recording a successful result.
There was a narrow $2250 difference between the nation's cheapest weekend results at Brisbane and Adelaide.
There was a <a href="https://www.realestate.com.au/property-house-qld-deception+bay-126011226" target="_blank">$265,000 Deception Bay three bedroom house</a> sale, some 32 kms north of the Brisbane CBD.
In Adelaide there was a $262,750 sale when <a href="https://www.realestate.com.au/property-house-sa-para+hills-126131658" target="_blank">a three bedroom Para Hills house</a> was sold, some 17 kms north of the Adelaide CBD.
There had been $250,000 pre auction hopes for the Adelaide offering.
In Perth, 33 auctions were held this week with 62.5 per cent successful, up on last week when the final auction clearance rate for Perth was 50 per cent across 35 auctions.
Canberra’s preliminary auction clearance rate of 71.2 per cent this week is lower than last week, when the final auction clearance rate was 74.6 per cent and lower than the 71.4 per cent recorded last year.
The top ACT sale was at Yarralumba where $1.39 million was secured for <a href="https://www.propertyobserver.com.au/https://www.allhomes.com.au/ah/act/sale-residential/7-weld-street-yarralumla-canberra/1317415336611" target="_blank">a three bedroom home</a> with the cheapest a <a href="https://www.realestate.com.au/sold/property-house-act-charnwood-126061154" target="_blank">three bedroom home at Charnwood</a> that sold for $401,500, that had been listed with $390,000 plus hopes.
Tasmania saw eight auctions take place this week, six results have been reported so far, with five sales. 
There was a $336,000 sale at East Launceston, <a href="https://www.realestate.com.au/property-house-tas-east+launceston-126131314" target="_blank">a three bedroom 1880s weatherboard home</a>.
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j.ballantyne1990-6AQqhLzZaK

Melbourne tops auctions again with $7.8 million Toorak tennis court sale

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"Aussie" John Symond's ownership of his mortgage broking empire has come to an end. 
The Commonwealth Bank of Australia has finalised the purchase of Symond's remaining 20 per cent stake in Aussie.
The Australian Financial Review says the price eclipsed initial expectations. 
The payment, which was made via 2.1 million CBA shares at $78.54 apiece, came in at almost $164 million.
It was well ahead of initial expectations of as much as $90 million.
Symond is said to have been given the option to take stock or cash this time round, but opted for the former as he did in previous sell downs. 
Sources said he had confidence in the domestic banking system and CBA's prospects, despite the bank's AUSTRAC and regulatory woes. 
Street Talk said the last time CBA moved on Aussie was in 2012 when it increased its holding from 33 per cent to 80 per cent.
That deal was said to value the broker at $420 million, whereas the latest sell down delivers Aussie an $820 million valuation.
CBA's latest results showed home loans originated through its proprietary channels, such as branches, accounted for 57 per cent of new mortgages as at June 30. Loans through brokers sat at 43 per cent.  
It reflected a move away from broker originated loans when the split between the two channels was 50 per cent each just a year ago.
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CBA finalises buyout of Aussie John's remaining stake in Aussie Home Loans

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<img src="https://counter.theconversation.edu.au/content/82892/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Last Friday, the world’s central bankers and some high profile economics professors will gather in Jackson Hole, Wyoming, for the annual Jackson Hole Economic Policy Symposium.
The Symposium, which is hosted by the Kansas City Federal Reserve, began in 1978. It does allow for discussions, information exchange, and time to reflect on the key issues bearing on monetary policy. But it’s not like the US Fed Chair Janet Yellen can’t talk to the European Central Bank (ECB) president whenever she wants – and vice versa.
More importantly, it provides a platform for Yellen and ECB President Mario Draghi to send very public messages about the future path of monetary policy in their respective jurisdictions.
The theme this year is “Fostering a Dynamic Global Economy”. That sounds like a good thing to have – better than an “undynamic one” – but don’t expect a lot of headline-grabbing comments from Yellen or Draghi.
All the data, and all the recent public statements by Yellen and Draghi, point to things basically going as planned. Cross your fingers. Hold your breath. Pray. Whatever works for you.
Draghi is a very smart guy, but he made a complete unforced error in a speech in June. At a banking conference in Portugal he offered: “All signs now point to a strengthening and broadening recovery in the euro area.”
Markets sure paid attention to those remarks. Bond yields rose, as did the Euro, as investors figured Draghi was going to start unwinding his quantitative easing policy. That led to a cast of ECB members having to tell markets that QE was here to stay for now.
Draghi seems to have learned his lesson. On Wednesday in Lindau, Germany he said: “While forward guidance (a tool used by central banks to influence, with their own forecasts, market expectations) is a useful instrument, recent research has highlighted that its effectiveness can be improved if combined with other non-standard monetary policies.”
Translation: no end to QE for now.
We can expect him to say something equivalently uninformative in Jackson Hole (which is actually a compliment to a central banker).
In the US, the Fed has been slowly, deliberately, and carefully tightening monetary policy in response to low unemployment and improved GDP growth. According to the Bureau of Labor Statistics (BLS), unemployment now stands at 4.3% nationally. Wage growth is still on the low side with average hourly earnings (for private, nonfarm payrolls) at US$26.36, up by 2.5% year-on-year to July. But compare that to Australia’s 1.8% wages growth for private-sector workers.
The main issue for the Fed is that inflation remains subdued. Two weeks ago the US Labor Department released figures showing the CPI was up 0.1% in July, after being unchanged in June. Year-on-year the CPI stood at 1.7%, still below the 2% Fed target.
This is Big Issue One for the Fed. Why is inflation so stubbornly low? Is it really because stuff is cheap on Amazon? It’s fair to say that the Fed’s (and others’) macroeconomic models are having a hard time explaining this fact.
But don’t expect Yellen to wade into the inflation-puzzle waters this week. That’s the sort of thing best done in the post-summer period – the US academic new year. My guess is that Yellen will start addressing that topic publicly some time before Thanksgiving, if she decides to do so at all.
There is, however, always the possibility for some fireworks at Jackson Hole. Not from Yellen or Draghi, but one of the academic speakers.
<h2>Rocking the boat</h2>
At Jackson Hole in 2005 University of Chicago Booth School of Business professor Raghuram Rajan gave a speech that was not popular with then-Fed-Chair Alan Greenspan, but turned out to be prescient.
The title of the paper he based it on was “Has Financial Development Made the World Riskier?” And he answered it in the affirmative. The reaction from many in the room at the time was that Professor Rajan was some kind of financial Luddite. Perhaps he also thought the wheel was a bad invention?
The fact that he was, well, right, is interesting and important, but beside the point for the purposes of this column. The real question is what the equivalent bomb-throwing speech from a participant might be this time.
Hard to say, but it might be to do with 2% GDP growth being the new normal, and what that means for long term monetary policy. This has been discussed by many people, such as former US Treasury Secretary Larry Summers, so it might not be all that new. But it could be made forcefully at the very large megaphone that Jackson Hole provides.
Look for a speech from a noted academic suggesting that inflation targeting should be abandoned; perhaps replaced with targeting of nominal GDP growth.
Such a speech wouldn’t be super new, or very surprising. But it might ruffle some feathers. The Fed has a plan and they’re sticking to it. This is practical macro. I suspect they are not in the mood for an academic seminar.
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a> is a Professor of Economics and PLuS Alliance Fellow at UNSW and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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jchancellor-FAypfDUnLy

Don’t expect much from the central bankers at Jackson Hole: Richard Holden

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Bentleigh East and Reservoir in Victoria are the busiest suburbs for auctions this week, with each set to host 17 auctions, followed by Mount Waverley (Vic) with 16 auctions, and Mosman in NSW with 15 auctions scheduled according to CoreLogic.
CoreLogic's latest auction market preview expects a slight increase in auction activity this week across the combined capital cities, with 2,086 properties scheduled to go to auction, up from last week’s final of 2,064 auctions held.
<a href="https://www.propertyobserver.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2011.22.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2011.22.41%20AM.png" alt="">
"Volumes have remained relatively steady throughout most of July-August, and have continually tracked higher each week when compared to the equivalent week’s last year, however while volumes are to increase this week, this will be the first week since early May where volumes are expected to be lower than what was seen one year ago, with results from last year reporting a slightly higher 2,153 auctions held," CoreLogic reported.
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"Across Melbourne and Sydney, the number of properties scheduled to go to auction this week is set to be higher than last week, with 1,039 and 760 auctions currently being tracked, increasing from last week’s 1,001 and 720 auctions held respectively.
"While the larger markets are to see an uplift over the week, activity across the smaller markets is set to fall by varying degrees, with Adelaide expected to see the most notable decrease in activity down by 32.7 per cent when compared to last week, followed by Tasmania (28.6 per cent), Perth (14.3 per cent), Canberra (10.3 per cent) and Brisbane (7.4 per cent). "
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-bentleigh+east-126061058" target="_blank">6 Wolai Avenue</a>, Bentleigh East (above) will be auctioned for between $1.1 million to $1.2 million.
A three bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-vic-reservoir-125994938" target="_blank">1E Black Street</a>, Reservoir (below) will be auctioned for between $600,000 to $660,000.
<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/2017/08/25/1E%20Black%20Street.jpg" alt="">
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mick.cee-iDmgDDAmu8

Bentleigh East and Reservoir set to be busiest weekend auction hotspots

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Renovation loan applications have surged over the past six months, highlighting the dilemma of housing affordability, according to home loan lender ME.
Applications for cosmetic loans rose 48% while structural loan requests grew 25% between January and June.
The average amount borrowers requested for structural-related loans such as new builds was $400,000.
For cosmetic-related loans such as kitchen and bathroom renovations, the magic number was $40,000, it said.
ABS figures also confirm renovation lending has reached a new seven-year high:
<a href="https://www.propertyobserver.com.au/images/2017/08/24/ME.jpg" target="_blank">Click to enlarge</a>
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Even CommSec chief economist Craig James said last month that in trend terms, loans for alterations and additions of homes (renovations) hit 7-year highs. 
ME Head of Home Loans, Patrick Nolan said the trend towards renovation funding could be related to the high cost of housing.
“While many homeowners are still relocating, it is clear many are choosing to stay put to avoid the high house prices, and expenses such as stamp duty,” he said.
A majority of ME customers are using equity in their home to fund their renovations.
“Home equity is what’s left over when you subtract your home loan from your property’s current market value,” said Nolan.
“If you’ve owned your home for a number of years it’s likely you’ve racked up some impressive gains in home equity.”
Sydney property owners have the most equity in their homes, an average of $443,900 per property, compared to $276,845 in Melbourne and $203,813 in Canberra.
“If you’re ahead with loan repayments, you may be able to use redraw to dip into your equity,” adds Nolan.
“It’s a simple option but you are limited to the value of those additional repayments. Having a loan with an offset account can be an easier way to access equity.”
According to Nolan, renovation is a smart idea to use the equity in one’s home as it typically adds value to the property.
“In addition, quality home improvements can add to your lifestyle and save on the cost and hassle of relocating to a new home.”
He said it was a good idea to check your suburb before spending a bomb on a makeover.
“To avoid spending more on the renovation than the value it adds to your home, consider the market in your area to be sure your improvements will fit in. Adding a fourth bedroom for instance, can make sense if you live in a family-friendly suburb, less so if you’re in an area popular with young singles.
“Next, put your hard earned cash to work where it will deliver the greatest benefit. High quality kitchen and bathroom renovations almost always add value to a property because they have broad appeal. The same can’t be said of outdoor spas or swimming pools, which can be high maintenance and don’t always deliver a fiscal return.”
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jonathanchancellor-7SQnKwU6yx

ME bank sees spike in renovation applications

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An art deco jewel, Cyclone House, in a Melbourne CBD laneway is set to go under the hammer with price expectations of more than $5.5 million.
The property at <a href="https://www.allardshelton.com.au/leased/17-19-Hardware-Lane-MELBOURNE/500881808.aspx" target="_blank">17-19 Hardware Lane</a> is being offered to the market for the first time in 45 years. The auction is on September 20. 
The 402 sqm three-level, art deco property was built in 1930 and has been restored with modern additions including a lift and air-conditioning.
The property is being offered with vacant possession and includes retail frontage with two upper levels that could be used for office, residential or retail space, or for a tenant in the services industry, according to The Australian.
The listing agents are Patrick Barnes, Joseph Walton, Michael Ryan and James Gregson of Allard Shelton.
The zoning is flexible and there is potential for diversified income streams, according to Gregson. 
“There is simply not enough supply of A-grade commercial investments like this in Melbourne anymore to satisfy the influx of demand we are experiencing,” Gregson said.
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Art deco Cyclone House in Melbourne CBD listed with over $5.5 million hopes 

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GUEST OBSERVER
Across house sales over the past 12 months, Tasmania recorded the highest proportion of stock turning over with 5.6% of all houses in the state selling. Conversely, Western Australia saw the lowest proportion of turnover with just 4.0% of all houses selling over the past year. 
The current lower volume of housing stock turnover highlights why caution should be taken when interpreting median sale prices. 
With such a small fraction of housing actually transacting over a given period, median prices can be biased. Furthermore, median prices may not be reflective of the whole market. When making a comparison between periods they may compare two very different bundles of housing types and quality.
<a href="https://www.propertyobserver.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2011.17.14%20AM.png" target="_blank">Click to enlarge</a>
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Concerned about housing stock levels, REINSW President John Cunningham said, “The results signal warning bells for the housing industry. It shows just how little has been transacted over the past year.”
“We know from a variety of property data sources that stock levels are steadily declining and a key reason why the affordability issue presents a bigger picture problem, particularly for Sydney and Melbourne.
“When we have stock on market, it keeps the property market competitive and in balance. Without stock we see less vibrancy and activity across the market and much more buyer competition taking place as opposed to activity between properties.” Ultimately, he said, “the knock-on effect damages the supply and demand chain.”
Lower housing turnover is being influenced by a variety of factors. “Advertised stock levels remain low across those cities where capital gain conditions are strong. Additionally, high transactional costs, which are based on a percentage of the selling/purchasing price, have become a larger disincentive across those markets where values have shown a material rise.”
Highlighted in the adjacent tables, it shows the five suburbs in each state which have seen the greatest turnover of houses over the past year. Only those suburbs that have at least 500 houses have been included on the list.
Zuccoli in Darwin had the highest proportion of stock turning-over across the country with 38.5% of all houses in the suburb selling over the past year. Clyde North in Melbourne had the second- highest level of turnover with 17.6% of all houses in the suburb selling over the past year.
<a href="https://www.propertyobserver.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2011.18.58%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2011.18.58%20AM.png" alt="">
While the data shows the suburbs with the greatest turnover of houses, each of the suburbs listed have seen substantially less than half of all houses selling.
Another characteristic of note is that most of the suburbs shown are in areas where there is, or has been over recent years, a substantial injection of new housing stock; average hold period data which shows that in new housing estate areas housing stock tends to turnover with greater regularity.
Overall, housing turnover in any given year reflects only a small proportion of the total housing stock. It further highlights that taxes on transactions such as stamp duty are heavily reliant on collection from only a small pool of overall housing stock.  
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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ckusher-ujnxiKuFQs

Housing turnover remains low despite strong selling conditions in Sydney & Melbourne: Cameron Kusher

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GUEST OBSERVER
Any amount you can claim on a property will be advantageous to your financial well being.
Negative gearing is a popular wealth creation strategy.
The net loss can be offset against other income to reduce tax which means the higher you can claim on a property, the bigger the tax benefit.
Here are some of the tax deductions you can and cannot claim on negatively geared investments.
Capital gain is derived from the sale of a property where the proceeds are more than the cost base of the property.
There is a capital loss if the proceeds are less than the cost base.
To minimise your CGT, you should know all expenses that fall within the property's cost base.
You can apply capital losses from the previous year as well.
The cost base consists of the property's purchase price, stamp duty, borrowing expenses, broker fees, legal expenses, capital improvement outlays and auctioneer's fees.
Rental properties bought on or after 19 September 1985 are subject to capital gains tax but any remaining net capital gain can be reduced under the 50% CGT discount for those who owned the property for over 12 months.
There are other concessions if it used to be your main residence as well.
You can also claim management expenses against the investment property's income, including insurance, interest on your investment loan, real estate management fees, depreciation on assets, council and water rates, tenancy costs including advertising, repairs and maintenance and cleaning costs.
Until 30 June 2017, reasonable travel expenses to maintain, inspect and collect rent for the property may be claimed.
For body corporate fees, you can claim admin levies and general purpose sinking funds as well.
To those whose rental property is in their name and not part of a property leasing business, you can reduce your tax on prepaid tax-deductible expenses if the prepayment is for services in the next 12 months.
For others, a prepayment may only be deductible immediately if the expenditure is less than $1,000 or specifically required to be incurred by a law.
To claim, you have to present official documentation such as bank statements and receipts and accurate depreciation and capital works schedules.
The depreciation schedule outlines the amount you claim in depreciation every year while the capital works schedule outlines building and construction expenses, costs of altering a building, capital improvements to the surrounding property and how much you can claim every year.
Expenses can be written off at 2.5% every year over 40 years for rental properties build after 15 September 1987.
Those who do not have building or construction records can obtain an estimate from a quantity surveyor, clerk of works, experienced builder or supervising architect.
A quantity surveyor can also create a depreciation schedule. They are experienced in valuing assets accurately to help you save money in the long run.
Meanwhile, expenses you cannot claim are those related to your personal use of the property, utility bills paid by the tenant, borrowing costs when you've borrowed against the investment property's equity for private use and those related to the sale or purchase of the property.
However, many of these can be part of the cost base. You should document and keep all records of all your spending from the start of your investment.
You should document and keep all records of all your spending from the start of your investment.
Talk to your accountant to understand what you need and map out what you want to do in the coming financial year.
Ed Chan is founder and non executive chairman, Chan &amp; Naylor Accountants and can be contacted <a href="https://www.chan-naylor.com.au/" target="_blank">here</a>.
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How to maximise rental property returns: Ed Chan

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A development opportunity in South Yarra’s Forrest Hill precinct is on the market with expectations for more than $5 million.
The property, 30-32 Claremont Street, is marketed by Teska Carson is situated on the eastern side of Claremont Street.
It features a 750 square metre, two level, brick, office/warehouse and four car spaces on a 490 square metre site zoned Mixed Use with 12 metres frontage to Claremont Street.
Teska Carson’s Michael Ludski said this property represents one of the last remaining high-density development opportunities within this tightly held, prime inner-city location, only three kilometres from the Melbourne CBD.
"The property falls within the former Forrest Hill industrial area, which has become a very highly regarded precinct, underlined by its extraordinary transformation in recent years on the back of significant residential and commercial development within the immediate South Yarra vicinity,’’ he said.
"Melbourne’s nation leading population growth, particularly in the coveted inner-eastern suburbs, was the key driving force that would continue to provide developers with quality opportunities.
"Melbourne’s population growth has driven a very strong residential and commercial development market in Melbourne in recent years, especially in areas that offer essential amenity including the best retail, transport and schooling options.
"South Yarra has been at the forefront of that development growth and will continue to be as long as blue-chip opportunities such as Claremont Street remain available."  
The property will be sold subject to a 12 month lease from October.
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Blue chip development site at South Yarra

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A development site in Melbourne’s inner suburb of Fitzroy has hit the market and is expected to attract strong interest from developers.
The listing of the 1,132 square metre site at 62 Rose Street follows the sale of a Webb Street property earlier this month for $6.6 million at Teska Carson auction.
The purchase of the latter property has plans for a high-end, million dollar plus, apartment project.  
According to Teska Carson’s Anthony Choi, who is marketing  Rose Street and Tom Maule who sold Webb Street with Matthew Feld, enquiry for sites in and around Fitzroy has been strong.
“Demand for these type of boutique apartment project sites has been extraordinary even given the strength of the apartment market in general over the last few years. I guess the difference here is the location in what has been one of Melbourne’s hippest suburbs over the last ten or 20 years,” Choi said.
The Rose Street property is zoned Mixed Use with frontages to Rose Street and Fitzroy Street. 
Three standalone warehouses, totalling 952 square metres, are currently leased on short to medium terms, returning $168,840 per annum.
The Rose Street property will be sold by expressions of interest closing September 20.
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