A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

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The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

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The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

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Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

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Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

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The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

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Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

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.

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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.

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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?

The Albanese and ACT Governments have struck a deal to unlock nearly 5,000 new homes across Canberra, with more than 1,700 earmarked exclusively for first home buyers.

The agreement marks the second formal partnership under the Federal Government’s election commitment to deliver up to 100,000 homes for first home buyers nationally, working alongside state and territory governments and industry.

At the centre of the deal is a $250 million funding injection from the Albanese Government, targeting enabling infrastructure to bring forward new housing supply across a number of key precincts in the ACT.

That includes funding to unlock 75 homes in the Kingston precinct, support new development in Weston Creek, and deliver estate works across the territory that will facilitate more than 500 homes by 2034. Additional investment will go towards relocating powerlines, water infrastructure in Molonglo Valley, and further expansion of the Ginninderry regeneration precinct.

Housing Minister Clare O’Neil said the agreement was about making it easier for first home buyers to enter the market, particularly in a housing environment that continues to challenge affordability.

“We’re determined to make it easier for young people and first home buyers to achieve the dream of owning a home,” O’Neil said.

“We know the housing market is tough, and we want Australians to know that Labor has got your back.”

The announcement builds on more than $800 million already committed to housing in the ACT since 2022, according to Finance Minister and ACT Senator Katy Gallagher, who said the latest funding would help ensure national housing programs are translating into real supply on the ground.

“We’re working closely with the ACT Government to unlock land and invest in the infrastructure needed to get these homes built sooner,” she said.

For the ACT Government, the agreement aligns with its broader target of delivering 30,000 new homes by 2030, with Chief Minister Andrew Barr pointing to the role of coordinated planning and infrastructure investment in accelerating delivery.

“Now, thanks to our agreement with the Albanese Government, this work is about to reach a new level,” Barr said.

The deal sits within the Federal Government’s broader $45 billion housing agenda, which includes initiatives such as the Housing Australia Future Fund, the Help to Buy shared equity scheme, and incentives aimed at increasing construction capacity and reducing barriers to development.

Canberra set for 4,900 new homes under Federal housing deal

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Not everyone has the luxury of a large yard to barbecue in over the summer season, however those with a balcony can still enjoy a good cook up provided they take care around certain risks.
Archers Body Corporate Management’s managing director, Colin Archer, warns that unit occupants should be careful when cooking on balconies to ensure gas cylinders are checked regularly. This should help avoid fire or injury.
LPG and barbecue fires are largely caused by wear and tear on gas hoses and burners, or unsafe use of barbecues, said Archer.
In confined spaces, the risks can often be maximised due to the consequences of fire and explosions in small areas.
“Every year the Fire Service is called out to fires in unit complexes caused by barbeques that are faulty or have been used incorrectly,” he said.
“These fires can cause extensive damage to the property, or worse, injury or fatalities.”
Bodies corporate should check communal barbecues, yet those on balconies are the responsibility of the tenant. They should still comply with by-laws.
LPG cylinders should never be used in confined spaces, and the gas always needs to be turned off after use.
Archer’s tips for barbecuing in the holiday season:
<ol start="1">
<li>Ensure smoke is not disturbing neighbours or damaging the walls or paint. </li>
<li>Ensure smells are not excessive. Positioning the barbeque in an area where there is adequate air flow will help with this.</li>
<li>Check to ensure the gas bottle and connections are safe, in good condition and checked by a professional regularly.</li>
<li>Ensure noise from visitors is within an acceptable level and ceases at a reasonable hour.</li>
<li>Ensure the balcony is not overcrowded and any rubbish from the BBQ and guests is not thrown over the balcony.</li>
<li>Ensure the balcony and barbeque is cleaned after use and food scraps are disposed of, these can attract pests or rodents.</li>
</ol>
<a href="mailto:Jduke@propertyobserver.com.au">Jduke@propertyobserver.com.au</a>
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Tenants and unit owners: A practical guide to barbecuing

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A 19-bedroom, 19-bathroom offering is currently sitting on the market, in the form of <a href="https://www.blueandwhitelodge.com.au/faq/Clodge.htm" target="_blank">Canberran Lodge and Blue &amp; White Lodge</a>.
The two properties operate as one commercial hospitality/accommodation opportunity, and sit on the gateway to Canberra - 524 and 528 Northbourne Avenue, Downer.
Also featuring a reception area, dining room and large function kitchen, as well as close to Dickson shopping centre and public transport, the rental return potential is $7,550 per week, the listing notes.
They comprise of 19 rooms and feature a reception area, dining room and large functional kitchen. They also have central heating and the upstairs rooms have balconies with views of Black Mountain.
The properties have undergone major refurbishments over the last decade, with new facades, and covered balconies.
The stylish lodges currently have a "Your home away from home" motto, and have room tariffs spanning from $95 to $200 a night (without breakfast inclusion).
The properties are currently open to offers.
It appears that the two blocks were previously advertised in 2007 for $2,200,000, according to RP Data records.
Most online reviews are positive, however it appears that noise may be an issue for visitors.
The current owners seem to have held the two accommodation properties for many years, and note that they're a family business with 42 years of experience in the industry.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Historic Canberran lodges sitting on market, with $7,550 per week rental return

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Last but not least in our series, we head to our capital, ACT, to have a look at five of the most gorgeous properties currently listed.
This is a territory with some of the most beautiful property facades, and some A-class neighbours.
You might want to read our <a target="_blank" href="https://www.propertyobserver.com.au/victoria/five-of-the-most-beautiful-homes-currently-on-the-market-in-victoria/2013112766650">top five from Victoria</a> and the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/step-inside-five-of-the-most-beautiful-residences-in-nsw/2013120166700">most stunning from New South Wales</a>. We've also covered <a href="https://www.propertyobserver.com.au/queensland/queenslands-five-most-beautiful-homes-on-the-market/2013120366766" target="_blank">Queensland,</a> <a href="https://www.propertyobserver.com.au/tasmania/tasmania-s-five-most-breathtaking-homes-on-the-market/2013120866841" target="_blank">Tasmania</a>, <a href="https://www.propertyobserver.com.au/south-australia/the-beauties-of-south-australia-five-homes-you-have-to-see/2013120566816" target="_blank">South Australia</a> and <a href="https://www.propertyobserver.com.au/western-australia/five-of-the-most-beautiful-properties-in-wa-currently-listed/2013121266918/Page-1" target="_blank">Western Australia</a>.
5) <a href="https://www.realestate.com.au/property-house-act-red+hill-114830279" target="_blank">139 Mugga Way, Red Hill</a>
The taps are gold plated, the tiles are gold leaf, and the carpet is 100% wool. They're the first two things that stick out from this listing.
This house is on the market for $4.2 million, and with four bedrooms, seven bathrooms and views from Black Mountain to Queanbeyan, it has a number of impressive features. We particularly loved the split/double staircase , 6.5 metre high grand entrance foyer in Italian marble, providing one of the more beautiful entrances we've ever seen.
Completed in 2006, it has 3.5 metre ceilings on the ground floor, a billiard room, a butler's pantry and a powder room attached to one of the bedrooms.
It also has a number of practical inclusions, such as double glazing, hydronic under floor heating, porcelain tiles, plantation shutters, dumbwaiter (small freight elevator), electronic sunscreens and a wet edge pool.
It also has two spa baths and a gymnasium, full size billiard table and seven-hole indoor putting green. It's somewhat indulgent, with the words 'imported' (vanities, granite benches, European chandelier, mosaic from South America etc) and 'opulence' being used.
The billiard table previously belonged to snooker and billiards champion Eddie Charlton's GP, and was played on by Charlton himself.
The cornices are hand painted, and there is a Venetian Murano glass light fitting over the dining table.
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4) <a href="https://www.realestate.com.au/property-house-act-o%27malley-106421512" target="_blank">4 Berbet Street, O'Malley</a>
Advertising it to ambassadors, the listing for this six-bedroom, six-bathroom residence explains that there's a teenage retreat, a walk-in pantry, brand new reverse cycle heating and cooling and a sizeable yard on the 2,193 square metre block.
It also includes a second kitchenette, a swimming pool, a loft with skylights, imported marble flooring in all the bathrooms, a 20,000 litre underground water tank and a storeroom.
The property has been listed for a very long period of time, according to RP Data, currently having sat with a 'by negotiations' label for 1,361 days. It has also previously been put on the market for rent a number of times.
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3) <a href="https://www.luton.com.au/listing?listing_id=574" target="_blank">24 Pindari Crescent, O'Malley</a><a href="https://www.luton.com.au/listing?listing_id=574" target="_blank"> </a> This high-ceilinged six-bedroom, three-bathroom $2,999,000 listing (although it's $3,500,000 on the agent's website), advertised towards a "diplomat or business magnate" has a 270 degree view of Woden and the mountains.
The renovated property includes a ballroom and billiard room adjacent that can apparently accommodate more than 200 guests.
It has a full size tennis court with flood lighting, a 400 square metre pavilion (with approved plans for conversion into a games room). There's also a 20 metre indoor pool surrounding guest quarters.
There's a triple car garage and onsite parking for 12 cars.
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2) <a href="https://manuka.ljhooker.com.au/FHRFMF" target="_blank">20 Tennyson Crescent, Forrest</a> This large property, on 2,480 square metres, has high ceilings, polished timber floors, and is basically a very elegant home. With five-bedrooms and three-bathrooms, and up for negotiation, it has a number of comforting inclusions.
With a walk-in pantry, two pyrolytic ovens and two dishwashers, it is certainly fit for a lover of cooking. It also has an outdoor kitchen with a stainless steel barbecue and granite benchtops.
It has a saltwater swimming pool with glass fencing, a poolside entertainment deck, a garden studio and a full sized tennis court, making it suitable for outdoor lovers as well. It has a landscaped garden with roses and exotic plants... and a computerised watering system.
It has a library, a conservatory sunroom, a gym and a rumpus room as well as a large double garage.
It last sold in 2003 for $1,862,500, according to RP Data.
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1) <a href="https://www.realestate.com.au/property-apartment-act-city-107055166" target="_blank">115/3 London Circuit, City</a>
Our final listing is this city-based apartment, that we couldn't help putting on the list. It's asking for $1,700,000, and has four-bedrooms and four-bathrooms. It has been on the market for a while, and was last listed in December 2010, asking $1,900,000.
With gorgeous views of the city, mountains and the lake, this 16th floor penthouse allows you to see the views from a jacuzzi.
It has floor to ceiling windows throughout, a double oven, 100 square metres of balcony space, a downstairs guest's powder room, zoned in-floor heating and a double garage.
Rates are listed at $983.54 per annum.
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{module Which of these is your favourite currently listed ACT home?}
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Fit for a politician: Five beautiful Canberra residences

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An Australian-based, full service real estate investment and asset management partnership has been formed by UBS and Grocon.
UBS Global Asset Management is one of the world’s top five real estate investment managers, and Grocon is one of Australia’s largest private development and construction firms.
The joint venture, based in Sydney, is called UBS Grocon Real Estate. It aims to provide market-leading investment opportunities for investors by combining UBS Global Asset Management's capital raising and real estate investment management capabilities with Grocon's expertise in development and deal origination.
The new entity will support demand from institutional investors for a broad range of fund types and real estate investment products covering core office, residential, and other value add and opportunistic investments.
It will benefit from a first right of refusal over Grocon's development pipeline as well as being able to acquire third party assets in the open market.
John Fraser, CEO and chairman, UBS Global Asset Management, will chair UBS Grocon Real Estate and Daniel Grollo, CEO Grocon, will be a non-executive director. The rest of the board will be appointed in the coming months.
"This partnership forms part of our strategy to strengthen our real estate presence in the APAC region and specifically in the Australian market,’’ Fraser said.
"Securing a partnership with one of Australia’s most prominent developers will allow us to bring the best development opportunities as well as top quality assets to both our domestic and international client base."
Daniel Grollo said: ”This is an exciting opportunity to work with one of the great global brands and one of the world’s largest real estate asset managers. The joint venture will support Grocon’s aim of producing the best investment grade real estate product in Australia."
Thomas Wels, head of global real estate, Global Asset Management, said: "This is an important building block in our global growth strategy. More and more of our growth will stem from partnering with best in class real estate developers to bring the best investment opportunities to our global client base."
UBS Grocon Real Estate is expected to participate in a number of substantial investments over the coming months from within Grocon’s existing $2 billion development pipeline and beyond. This covers significant residential projects, including the next stage of Grocon’s redevelopment of the Carlton Brewery and its redevelopment of 85 Spring Street, both in Melbourne.
UBS Grocon Real Estate is separately exploring potential high quality office investments from Grocon’s development pipeline.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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staylor-63KgDrKwoY

UBS and Grocon join forces for real estate investment and asset management partnership 

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Those owning duplexes in ACT will now need development approval before they can be demolished or substantially altered, according to Minister for the Environment and Sustainable Development, Simon Corbell.
Where duplexes currently fell under exempt development rules, Corbell said that in response to community discussions this has now been altered.
"The unique character of duplexes means their demolition and alteration can have significant impact on the adjoining duplex," he said.
"Anyone wanting to demolish and rebuild a duplex or make major alterations will have to lodge a development application, which gives neighbours the opportunity to review the plans and make comments and ensures the planning authority can assess the proposal against current laws and standards to protect the amenity and integrity of the adjoining dwelling."
An example provided is to ensure the party walls are not left exposed to the weather or structurally unsound.
This brings duplex development proposals back to the 'default position' for the majority of developments.
Minor alterations will remain exempt in line with single dwellings, such as exterior refinishing, installation of chimneys and skylight installation.
This amendment is to s.1.100 and s1.100B of schedule 1 of the Planning and Development Regulation 2008.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Duplexes lose development exempt status in ACT

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Noting that residential building approvals eased over October 2013, the Housing Industry Association's chief economist Harley Dale said that it's actually a healthy result.
“After a modest decline of 1.8% in October, total residential building approvals are still at their second highest level since March 2010," said Dale.
However, New South Wales seasonally adjusted building approvals dropped by a significant 33.5%.
“There were wide variances in the October approvals results, including strong growth in Victoria and Queensland helping to offset a dip in New South Wales,” he said.
The fastest growth in approvals when looking beyond October is occurring for New South Wales, Victoria and Queensland. Growth in 'other dwelling' approvals, at 43%, is outpacing detached housing.
“The upward momentum to building approvals is impressive and augers well for new home building activity heading into a new year,” he said.
In October, growth in seasonally adjusted building approvals was noted to be strongest in Victoria, at 23.4%, followed by Tasmania at 19.7%. The Northern Territory saw approvals increased by 13.4%, while Queensland saw a 10.5% increase.
Modesr growth was seen in South Australia, recording 1.2%.
Western Australia recorded a 6% fall, while the ACT saw a 4.7% decline.
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Building approvals ease slightly over October but mixed picture: HIA

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The high clearance rates and double-digit house price growth being experienced in the property market is expected to moderate in the next few months, as experts say the market is unable to sustain momentum.
The final weekend of spring saw the highest number of property listings for the year to date, but clearance rates in Melbourne and Sydney were below the season’s strong average.
According to RP Data figures, 74.7% of houses sold over the weekend in Sydney, while Melbourne recorded a clearance rate of 69.2%.
There were more than 3400 homes up for grabs, with most of these located in Melbourne and Sydney.
Australian Property Monitors senior economist Andrew Wilson said it had been a record-breaking spring, but he doesn’t expect the momentum to be carried forward to 2014.
“We’ve had some extraordinary results throughout spring… it shows there has been a surge in sellers into the market to take advantage of the best-selling conditions in three to four years,” he says.
“I wouldn’t be surprised to see the clearance rates drop down a bit, as in the next few weeks there will be increased competition between sellers, so reserves might moderate a bit and there could be weaker price growth.”
In the last weeks of the year Sydney is expected to have around 1700 auctions and Melbourne will see up to 2700.
Wilson says people are making sure they settle before the end of the year when the market drops off until February.
“Clearance rates have flattened a little bit in recent weeks, but it’s been nothing dramatic in terms of decline… buyers have been spoilt for choice,” he says.
“While there is no real sign of creaking under the massive load, the tests do still remain. The question is, are there enough buyers to soak up properties at the rates we’ve seen this year? We should expect some moderation in clearance rates.”
While Sydney and Melbourne have performed strongly this year, the markets in Perth and Tasmania remain weak.
Over the weekend, 30.8% of houses sold in Tasmania, while 42.9% of homes in Perth were successfully shifted. In Brisbane homebuyers were deterred by heavy rain, seeing it record a clearance rate of 44.2%.
In Sydney and Melbourne, the current average time on the market for a house is 26 and 34 days respectively, according to RP Data.
Wilson says in 2014, high unemployment rates and broader economic concerns could hamper the property market.
“The economy is still mixed. Where the property market goes from the middle of next year will depend on where the economy goes,” he says.
“A lot of this year has been spent playing catch up and the Melbourne market is now just about back to where it was three years ago. We’ll have a solid start to the year, but Sydney can’t sustain the double figures prices growth of this year.”
According to APM, the most expensive property sold over the weekend was a four bedroom house in Port Melbourne which went for $5.175 million.
The cheapest property in Melbourne, a three bedroom unit in Seaford, sold for $247,000.
Across the year, the strongest performing Melbourne suburbs have been the outer and inner east, while in Sydney the inner west, south and north shore suburbs have done best.

<hr>
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
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Experts say property market is unable to sustain momentum

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All sectors of the Australian property market recorded price rises over the past year, with the ‘middle market’ reaping the strongest gains.
According to RP Data’s latest quarterly review of the residential property market, over the 12 months to October, home values across the broad ‘middle market’ suburbs had the greatest value growth at 8.1%.
Also, the most affordable and most expensive capital city suburbs each recorded value growth of 6.7% and 7.4% respectively over the past year.
And, over the past three months, home values rose across all sectors with affordable suburbs recording value growth of 2.1%, the middle market 3.4% and the most expensive suburbs 3.8% growth.
 
<img alt="rolling-nov-28-two" src="/images/stories/2013/11/28/rolling-nov-28-two.gif" height="231" width="470"> 
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Australia's 'middle market' reaping the rewards of price rises

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There has been a resurgence in risk appetite for property investors in the Pacific region, according to a new Colliers International survey.
Next year 72% of investors in the Pacific region plan to expand their property portfolios , up from 56% last year, according to the 2014 Colliers International Global Investor Sentiment Survey.
Just 2% of respondents indicated they were not at all likely to take on more risk. Last year that figure was 70%.
This year 64% specified that they planned to take on more risk over the next 12 months.
The survey queried major institutional and private investors who were asked for their outlook at the global and regional level for 2014 and beyond.
Colliers’ John Marasco says Australian-based investors are becoming far more active.
“In 2012, investment volumes for some property types, particularly core property, were dominated by offshore investors,” Marasco says.
“With local investors back in the market, it is unlikely we will see this same sort of dominance in 2013.”
The report finds that to access a wider range of opportunities, as well as higher yields, many local investors are looking to secondary properties.
“As an example, a number of major Australian institutions are believed to be creating funds to specifically target non-CBD office properties as they seek to diversify their portfolios and target higher yielding assets,” the report says.
Most investors, 85%, are looking to buy within the pacific – mostly locally. Colliers puts this down to an easing of monetary policy over the past 18 months.
Otherwise 39% of investors are looking at Asia, 25% are looking at Europe, the middle east and Africa and just 13% are looking at the US.
Investors in the Pacific overwhelmingly prefer to invest in eastern seaboard Australia – 55% in Sydney, 12% in Melbourne and 4% in Brisbane.
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Rising risk appetite for Pacific property investors

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Funds management group Australian Unity Investments has proposed merging its Australian Unity Fifth Commercial Trust with the larger and more diversified, Australian Unity Office Property Fund to create a $461 million property vehicle.


The Australian Unity Office Property Fund (OPF) is an unlisted property fund, which owns eight quality office buildings in some of Australia’s major centres. It has a forecast total asset value of about $366 million in June 2014.  Australian Unity Fifth Commercial Trust (FCT) is a fixed term trust due to terminate in 2015. Gross assets within the trust stood at $95.61 million as at 30 September. 
The purpose of making the merger proposal now, said Australian Unity, was to maximise the value of FCT’s remaining properties at 5 Eden Park, North Ryde NSW and 30 Pirie Street, Adelaide in South Australia - already 50% owned by OPF.
The merger would allow FCT to transfer its interests in both properties to OPF at an agreed valuation, removing "the reliance on the risks of a sale process, and involves no selling costs,” it said.

Australian Unity general manger of real estate investment Mark Pratt said the merger would provide investors with a cost and tax effective option to continue their investment in commercial property.

He also said that “OPF is forecast to provide higher distribution returnsthan those forecast for FCT, has greater diversification than FCT, and intends to continue providing regular capped withdrawal opportunities to investors.”

Australian Unity Investments is the $10 billion plus funds management arm of healthcare and retirement group Australian Unity.
FCT investors will be able to vote on the proposed merger at a general meeting scheduled for 11 December in Melbourne.
<a target="_blank" href="mailto:news@propertyobserver.com.au"> </a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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