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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New home sales have bounced back in March after a strong decline in February, according to the Housing Industry Association.
The HIA New Home Sales report shows a 4.2% increase in seasonally adjusted new home sales in March bringing sales figures back to what they were 12 months ago.
<img alt="hiamay1one" height="292" width="470" src="/images/stories/2013/05/hiamay1one.jpg">
There was a strong decline in new home sales in February – a 4% decline for new detached house sales and an 11% decline for sales of multi-units. They both increased by 3.9% and 5.6% respectively.
“A bounce back in March after a disappointing result for February is a good result to see," says HIA Chief Economist, Harley Dale. "It was important we saw a rise, even one that didn't completely eradicate the February decline."
“However, the overall trend of recovery since November last year means sales volumes are now at low rather than record low levels.”
During March detached house sales increased by 16.3% in New South Wales, 7.3% in Victoria, 3.2% in Queensland, and 5.7% in South Australia.
Detached house sales fell by 5.6% in Western Australia following three consecutive rises.
Dale used the results to call for economic reform by the federal government to boost new housing supply.
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New home sales increase in March after a drop in February

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The 1860s South Melbourne terrace of the AFL's No.2 man, Gillon McLachlan and his wife Laura was passed in on a $4.4 million vendor bid at auction today. But its sold sticker was posted early afternoon before the bounce of the ball at the MCG.
The sale price was undisclosed but about $4.525 million was the whispered price gleaned by Property Observer.
There had been an opening and only bid of $4.3 million from one of the few interested parties prepared to show their hand at the onsite parkside auction. 
It had been listed by Rob Vickers-Willis and Jock Langley of Abercromby's Real Estate Armadale initially by private treaty in February without success.
The envisaged revised auction marketing price range was between $4 million and $4.5 million on the <a href="https://www.propertytycoon.com.au/tip/melbourne" target="_blank">Property Tycoon</a> tipping website.
The weekend's highest disclosed weekend sale was nearby at St Vincent Place, Albert Park where $3.97 million was recorded at a mortgagee auction through Cayzer agents Michael Szulc and Geoff Cayzer.
It was the <a target="_blank" href="https://www.propertyobserver.com.au/victoria/rare-st-vincent-place-mortgagee-sale-attracts-four-bidders/2013041560418">second of three adjoining unrenovated terraces offered for public auction over three consectutive weekends</a>.
There were whispers the $3.97 million buyer - one of the five bidders - may have been associated with the mortgagor.
The REIV reported a 67% weekend auction success rate on initial results. Its been 69% in the year to date.
<img src="/images/stories/2013/02/mclachlan1.jpg" width="470" height="353" alt="mclachlan1">
The three bedroom, two bathroom house sold by the McLachlan's (pictured above) cost $3.6 million in 2007. Set on a 460-square-metre block, it was formerly owned and restored by broadcaster Peter Couchman, who then bought next door.
<img alt="mclachlan2" height="353" width="470" src="/images/stories/2013/02/mclachlan2.jpg">
When Couchman bought it in the 1970s, it was divided into flats, but underneath plaster boards and layers of paint were fine period features.
The terrace, one of a pair built for a locksmith overlooking a little park, had previously traded at $1,925,000 in 2004, then $785,000 in 1996 and $625,000 in 1992.
<img alt="mclachlan3" height="353" width="470" src="/images/stories/2013/02/mclachlan3.jpg">
It was mid-last year that McLachlan, the AFL  deputy chief executive, knocked back the job as chief executive of the ARL Commission in Sydney.
He married, Laura, the daughter of Spotless chief Brian Blythe in 2003.
Property Observer will provide an update on Monday on all the weekend auction results.
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jchancellor-FAypfDUnLy

Price undisclosed but Gillon McLachlan secures weekend top sale as South Melbourne beats Albert Park

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Western Australia's retail property sector is experiencing some positive sentiment with expectations for price growth in positive territory for the second consecutive quarter, according to research by Property Council of Australia and ANZ.
Sentiment across all sectors within Australia’s property industry is at an 18 month high, according to a Property Council of Australia-ANZ Property Industry Confidence Survey.
The research found gains are driven by increased confidence in the housing market and easing financing conditions.
Across the country overall sentiment is up from 107 last quarter to 124 on the index. A score of 100 is considered neutral.
NSW, VIC, WA and QLD recorded the largest increases in sentiment.
Western Australia leads at 149, followed by Northern Territory at 132, New South Wales at 131, Queensland at 121, Victoria at 117, South Australia at 108, ACT at 96 and Tasmania at 96.
The report made reference to commercial property in the following states:
Queensland
Queensland jumped 17 points in the index.
“Respondents...expressed a positive outlook for hotels, tourism and leisure product in Queensland for the first time since the survey’s inception,” Queensland executive director of the Property Council of Australia, Kathy Mac Dermott says.
“Similarly, expectations for the retail sector continued their recent positive trend, also rising above 100 for the first time – one of only three states in the country to positively rate the sector this quarter.”
ANZ head of property research, Paul Braddick, says, “while property industry confidence remains weighed down by a soft outlook for the coal mining sector and recent job cuts to the state government public service, solid growth in retail sales and house prices in Queensland appear to be partly driving a more optimistic outlook for Queensland’s economy and property sector.”
NSW
New South Wales rose 19 points on the index.
“NSW enjoyed the biggest lift in sentiment of all jurisdictions across the country,” Property Council NSW executive director, Glenn Byres says.
Paul Braddick, says “tight residential property market demand/supply fundamentals, low mortgage rates and solid housing market sales in recent months have driven property industry expectations for house price growth and housing construction higher.”
“However expectations remained varied across sectors with the strongest expectations for capital growth in aged care and commercial office property, while a subdued outlook for retail spending is expected to drive retail property values lower in the coming year,” Mr Braddick says.
VIC
Victoria rose 18 points on the index.
Paul Braddick says, “the increase in property industry confidence was likely driven largely by an improved outlook for the residential property market, with solid housing sales and positive house price growth in recent months.”
“In addition, a more stable global economic outlook and expectations of increased availability of debt finance are likely to have boosted expectations for construction activity and property capital growth in Victoria,” Mr Braddick says.
“Nonetheless, we expect property industry confidence to be weaker in the coming quarters, weighed down by a soft outlook for the Victorian economy, further slowing in Victoria’s housing construction from the recent peak and a subdued outlook for retail spending and office employment.”
WA
Western Australia rose 18 points on the index.
Property Council WA executive director, Joe Lenzo, says the survey results are strong and that sentiment has benefitted from the re-election of the Barnett Government in WA, which guarantees the development of a number of key property projects in the State.
In construction survey results show respondents expect residential, retail, hotels and retirement construction activity to increase over the next year. Western Australia posted strong expectations for construction activity, including the strongest reading for planning office construction activity.
Commercial office price expectations have improved modestly from the previous quarter. The Perth office market has seen strong investment in-flows from international and eastern-states based investors over the last 12-months.
The retail property sector is experiencing some positive sentiment with expectations for price growth in positive territory for the second consecutive quarter.
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WA retail property sentiment positive as national industry sentiment at 18 month high: PCA

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Mirvac has reportedly withdrawn from any acquisition bids of Australand Property Group, preferring to concentrate on smaller acquisitions, The Australian Financial Review’s Street Talk suggests.
It does not want to battle with GPT Group – the only other party to have submitted a bid for the company.
The supposed withdrawal of Mirvac will put the pressure on the trust whose principal shareholder, Capitaland from Singapore, wants to exit the business.
GPT put in a $3 billion bid for the company in December but it was quickly rejected after it became apparent it was merely cherry picking the best bits of the trust.
Mirvac is reportedly looking at a $575 million property portfolio on offer by US giant General Electric.
While Mirvac withdraws its interest, Apollo Global Management has reportedly stepped into the arena, joining Blackstone and Brookfield which have both been spotted in the data room.
Capitaland owns a 60% stake in Australand and wants to exit the trust, but any takeover must be agreed to by the board.
The group is being advised by Fort Street and Macquarie.
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Mirvac withdraws interest from Australand acquisition as Apollo takes a look

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Like many other markets across Australia, Queensland’s south-east including Brisbane and the Gold Coast have seen falling lot production over recent years. Since a peak in 2003-2004, supply has been in decline since 2007 and unlike trends in Victoria and NSW an up swing is not yet evident.
However in terms of land marketing, there are some good results being achieved and one estate in particular on the Gold Coast helps to highlight how the right combination of size, location and price will produce strong sales.
In what is described as ‘a bumper sales run’ we can see <a href="https://www.northpoint-hopeisland.com.au" target="_blank">North Point at Hope Island</a> (pictured below) as the fastest selling land estate in south-east Queensland and certainly as strong as many other locations along the entire eastern seaboard.
<img alt="chittendenapril16one" height="292" width="470" src="/images/stories/2013/04/chittendenapril16one.jpg">
The recent strong sales are also seen as a further sign the Gold Coast’s property market is on the road to recovery. This good news comes from project marketing director Tony Holland of Colliers International's Gold Coast office. Tony believes that Gold Coast-based buyers have identified the unrivalled value at North Point, where waterside lots are selling from $215,000.
Price is always a central consideration and as markets in Brisbane, Perth and Melbourne start to converge North Point stands as good value as supply continues at low levels.
However as the south-east market continues to grow, the appeal of waterside lots is clearly set to remain very attractive.
Tony Holland reports that in less than 12 weeks, over 60 contracts have been issued for the estate resulting in sales valued at $15.8 million. An even stronger result when you consider that this is the first release of 73 home sites at North Point. Hope Island is a very desirable location and targeted marketing has helped to secure this result and importantly it represents a rate of sale that has not been seen in this area for many years.
 
<hr class="system-pagebreak">
The marketing has helped to reinforce the fact that locals know that North Point offers competitive prices for a quality location like Hope Island and this has been strongly realized in the sales results.
<img alt="chittendenapril16two" height="308" width="470" src="/images/stories/2013/04/chittendenapril16two.jpg">
I asked Tony what were, in his experience, the key factors that had driven the results, and he pointed to some familiar territory.
“The local market is well aware of the lifestyle and location advantages of the area and they have enthusiastically embraced the terrific value proposition of this project,” he said.
“North Point has also come to the market at a time when the supply of residential land across the city was now starting to lag behind rising demand.”
The UDIA State of The Land Report shows that supply has yet to recover in Brisbane while Colliers International’s own research and forecast report for south-east Queensland communities found that land sales on the Gold Coast had jumped 45% in a six-month period while reflecting the UDIA figures approvals continued to slide and this fueling demand and prices were now moving up.
Another fact that is pushing demand in the area is population growth. The latest census data shows an increase of around 7,000 residents annually over the last five years creating demand for an additional 2,800 dwellings each year.
Dwelling approval rates over the past two years have fallen well short of this demand and if this continues it may well result in developers considering bringing forward the release of lots currently on hold.
From a marketing perspective Hope Island is a popular area and it is forecast to need 3,000 more dwellings over the next decade as the suburb’s population grows to more than 15,000 people and in any future growth land like that at North Point on the waterside locations.
Research from Colliers International and the UDIA also reveals the weighted average sale price of residential land on the Gold Coast was almost $245,000 and so here again we see that value is a key proposition well marketed for North Point’s success, as Tony highlights.
“Given the current market dynamics, North Point offers the chance to snap up land in a prestigious location at prices that start below the current average and so there is reason to see some clear upside for anyone buying now,” he said.
When we stop and look at the marketing activity it is clear to agree that astute locals are taking advantage of this rare window of opportunity. Colliers International Gold Coast and Foxwood Property Solutions are marketing North Point under instruction from Philip Campbell-Wilson of Ernst &amp; Young, acting as receiver and manager and this fact will also have acted to encourage buyer interest in the estate.
North Point comprises a selection of both waterside blocks from $215,000 and premium waterfront home sites with marina berth priced from $430,000. Lots in the initial releases of North Point range in size from 415sqm to 584sqm, a range that is now seen as above average.
North Point offers a good example of how impressive results can be achieved from a well-planned and detailed sales path that is directly aligned to market conditions, but it should also be acknowledged that the wider market is still somewhat hesitant and so this volume of sales comes from leveraging all of the facets outlined.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
 
 
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pchittenden-eLqUUC8TWW

Sales at Queensland's North Point development show value of detailed sales path: Peter Chittenden

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The Australian residential market could be on the road to recovery with pre-conditions now existing for the market to grow, according to CBRE.
The Australian Residential MarketView report  for the December 2012 quarter shows an improvement in sales volumes but suggests previous significant growth cycles are unlikely to be seen in the immediate future.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/04/cbreapril11one1.gif"><img src="/images/stories/2013/04/cbreapril11one1thumb.gif"></a>
“A low interest rate environment, modest improvement in building approvals, an increase in population growth, improving rental yields, expanding buyer enquiry levels, sales volumes improving and recent equity market growth are all necessary for a market geared towards recovery,” says CBRE’s regional director of residential valuations Tom Edwards.
Edwards says households will remain focused on debt reduction rather than expanding property holdings, which will deliver a stronger capital growth.
Melbourne remains the star performer in terms of auctions, with a surge in auction listings and a strong clearance rate of 70% over late February.
The clearance rate during the same period in 2012 was around 50%.
However, the report says a recovery in price growth is not evident as buyers remain well informed about realizing pricing levels and are cautious about taking on high levels of debt.
 
<hr class="system-pagebreak">
Buyer activity within South East Queensland is improving and the South East Queensland Coastal market is stabilising after a period of very low buyer activity.
“Despite this improvement, indications of capital growth remain largely absent,” says Sam Reilly from CBRE’s global research and consulting team.
Reilly says the lower price brackets in South East Queensland markets are reporting better levels of buyer enquiry and increased levels of stock shortages as demand improves.
In Sydney, the vacancy rate is well below the equilibrium of 3% at 1.9%.
The report says building activity within Sydney is gradually improving however sales volumes are flat as buyers are reluctant to purchase in upper and prestige brackets.
However, Sydney’s Inner West is rebounding, with properties up to $1.2 million subject to a high degree of buying activity.
“Current residential building activity in Sydney is gradually increasing from the subdued conditions experienced during and after the GFC,” says Reilly.
“This is partly in response to stable economic conditions but also as a result of supply shortage that was difficult to rectify due to a challenging planning regime and problems associated with obtaining credit.”
In the west, Perth remains positive with strong economic growth and residential sales improving.
The report says rental growth and levels of investor demand are improving due to low interest rates and stable levels of buyer confidence.
Click to enlarge
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Perth’s vacancy rate remains tight with Edwards saying this is a strong contrast to most other residential markets across Australia, where employment outlooks are subdued.
Adelaide continues to have low levels of buyer confidence as the state has a subdued economic growth outlook.
The report says the current growth level is sitting well below the national average.
Canberra’s entry-level apartments are the star performers of its residential market and the report notes the federal election has had no effect on buyer activity.
Click to enlarge
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ntrotman-Et3xWpamVh

Australian residential market could be on road to recovery: CBRE

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The RP Data listings index has started to ease from its seasonal peak over recent weeks.
The index peaked at 308.4 points over the week ending 24 March, which was its highest level since March 2011.
Since that time there has been a clear easing of the index.
The recent strong ramp up in the index foreshadowed an uplift in the number of new properties being brought to market.
Over the two most recent weeks, the first of which included Easter, there has been a sharp decline in pre-listing activity and subsequently a decline in listings.
The big test of market conditions will be whether the additional supply which has recently been added to themarket will be absorbed in a timely manner.
RP Data is currently tracking 286,630 properties available for sale across the country which is 1.2% higher than at the same time last year however, it is -1.0% lowerthan the amount of stock for sale four weeks ago.
<img src="/images/stories/2013/04/rpdatalistingsapril12thumb.gif" width="470" height="203" alt="rpdatalistingsapril12thumb">
The RP Data Property Index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market. 
RP Data customers account for over 70% of all listings in the Australian property market.
The index, which tracks the flow of metadata across RP Data’s real estate data platform, shows a 75% correlation with the number of new listings about to enter the market.
The RPI was launched in February 2013.
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ckusher-ujnxiKuFQs

As winter looms real estate agent activity starts to ease: RP Data

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It’s surprising how many think increasing land supply will solve the alleged affordability crisis.  
Some politicians see it as a magic pill to cure first-home buyer indigestion. Flood the market with new land and, hey presto, house prices will suddenly be palatable to the young and the assetless.  
They would have more credibility and greater support if they could produce some precedents to demonstrate that their theory works. They don’t because there aren’t any.  
Another reason politicians who champion this idea tend to get that lonely feeling is that most Australians don’t want prices to be pushed down. And sensible politicians know it.  
Most households are owners and the last thing they want is a policy fart that devalues their major assets – which form the basis of their retirement plans.  
That’s assuming the scheme would work. It wouldn’t.  
Bill Marmion used to be the environment minister in Western Australia. Now he’s been named mines and petroleum minister, which shows how well he did protecting the environment. In his spare time he’s also the housing minister.  
As housing minister, Bill knows how to fix things for people struggling to buy a home: flood the market with land. Here’s what he told the West Australian this week: "Opposition leader Mark McGowan laughed at me in Parliament (in 2010) when I said you have got to try and flood the market with more land to drop the cost. But that is the only solution – to have land ready to go."
He’s wrong on two counts: it won’t make new homes cheaper and it’s not “the only solution”.
But there’s an even nuttier politician than Bill. There’s Bob Katter, the Queensland pollie who wears his white Akubra everywhere, including to bed, apparently. Katter, who formed Katter’s Australian Party to embrace everyone who wasn’t smart enough for One Nation, is the sort of bloke you’d rather have as an opponent than a supporter.
The Mad Hatter says he can reduce the cost of house blocks in mining towns to just $25,000!  
How will we do it? “We open up the land,” he says. “The price of land has got nothing to do with anything else except the restrictions placed upon land subdivisions by government. Remove those restrictions and I can give you housing prices that you can only dream of.”  
The average residential home site costs around $170,000 in <a href="/news">Emerald</a>, which sits between two major coal-mining provinces in Queensland. The median house price in coal town Moranbah is $750,000 while in Western Australia you pay $1.2 million for the typical house on land in Port Hedland, the iron ore hub.  
The mind boggles to think how much land Katter plans to release to cut the price of a home site to $25,000 in such places.  
There are already precedents of Australian property markets with significant over-supplies of residential land. The south-west of Melbourne is one of them.  
Developers in new suburbs around <a href="/news">Werribee</a> and <a href="/news">Wyndham Vale</a> have built far too much new housing. At various times in the past 2-3 years, residential vacancies have been as high as 9-10%.  
Faced with too much stock, lots of competition and not many buyers, did developers cut their prices to make sales? No, they did not.  
Developers will do anything to make a sale – other than cut the price. In the case of Melbourne’s southwest, they offered incentives and freebies and rebates, they sent marketing teams up to China and they engaged spruikers to flog them at inflated prices to interstate investors.  
The median prices for houses in Werribee, Wyndham Vale, Tarneit and Point Cook are still considerably higher than they were three years ago. A significant over-supply has not decimated prices.  
Developers are not renowned for their benevolence. Give them cheap land and they’ll seize the chance to make a bigger profit. They won’t be selling at bargain prices.  
The problem with affordability is not land supply. Most of our major cities have plenty of residential land. Much of it is in the hands of big developers, who land-bank and drip-feed supply to the market to suit their own ends.  
The real solution to the cost of new housing will come only when politicians admit that the greatest cost component comes from the taxes, charges and delays they heap upon the development process.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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terryryder-YECXbqmri2

Increasing land supply is not the answer to affordability issues

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Superannuation experts are becoming more concerned over the suite of <a target="_blank" href="https://www.smartcompany.com.au/superannuation/054951-government-announces-superannuation-changes-everything-you-need-to-know">changes announced by the federal government</a> on Friday, warning even people with a modest amount in their accounts could be caught by new taxes.

Experts have given a mixed reaction to the changes, which include placing a higher tax on earnings over $100,000. Although the government says these changes will only affect the highest income earners, experts say people with accounts as low as $500,000 could be affected.
Particularly, they say, if you sell assets which incur higher taxes, such as capital gains, which could cross the line of earning $100,000 in a year.
"This just shows when you start to tinker with the tax and superannuation system...it just leads to further complexity," Tax Institute senior tax counsel Robert Jeremenko told SmartCompany this morning.
However, CPA Australia policy head Paul Drum told SmartCompany such an event is possible, but unlikely.
"I wouldn't say it's outside the realms of possibility, but that presupposes you're getting a fantastic return on an investment. It's unlikely."
The changes have received a variety of responses. While some industry experts say some of the changes are welcome – such as easing up on some excess contributions penalties – others are more worrisome.
The Association of Superannuation Funds of Australia said it mostly welcomed the changes, although noted there is a lot of detail still to analyse.
"We will examine these proposed changes in detail to ensure they deliver the best outcomes for the sustainability of the system and a comfortable retirement for all Australians," chief executive Pauline Vamos said.
The Institute of Public Accountants was more timid, saying the reforms were "mixed" and the concept of a "council of superannuation guardians" was not necessarily convincing.
The government said a council will be established to make sure any future reforms are consistent with a charter on superannuation stability.
"There have been a large number of reviews from systemic taxation reviews to comprehensive superannuation reviews; we are unsure as to how a 'charter' will impact on better retirement savings outcomes for Australians."
Institute of Chartered Accountants head of superannuation, Liz Westover, also wrote while the changes ended speculation, they also aren't guaranteed to pass Parliament, which could lead to more uncertainty.
While commentary has been mostly negative towards some changes, such as the 15% tax to be placed on earnings over $100,000, and the move to make deeming rules apply to super pensions, others have been welcomed.
These include an increase in the contributions cap to $35,000, and new reforms to excess contributions caps which will see people be allowed to withdraw the excess deposits made into their accounts.
This has been a particular problem for some, as they are taxed at more than 47% for the excess amount.
Jeremenko says this change is welcome and is an acknowledgement from the government "most people" try to do the right thing.
However, he says other changes are problematic.
"There are already questions about whether the 15% tax on earnings over $100,000 will affect certain people. It shows the government should be viewing changes to the super system in its entirety."
Paul Drum says it's important to keep the changes in context – they haven't reached Parliament yet.
"When there is a change of government – and there will be, we just don't know to what yet – that will reveal more."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Experts say new super rules could affect those with more than $500,000 in accounts

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The ‘feel good’ furore surrounding Australia’s real estate market continues to grow.
In Melbourne, news that overall turnover is some 15% above that recorded this time last year and a collective year-to-date clearance rate of 69% has been welcome news for those that work in the real estate industry and make their money from promoting the ‘buy now’ mantra – a phrase that doesn’t carry as much weight when prices are flat or falling.
In annual terms, both owner-occupation and <a target="_blank" href="/?option=com_googlesearch_cse&amp;q=investment%20lending">investment lending</a> in Victoria have increased by 2.5% and 18.6% respectively – proving the attraction real estate continues to hold as an ‘appreciating’ asset.
We’re once again witnessing increased competition around favoured stock that motivates the old angst amongst buyers, of ‘get in quick before it’s too late’ – a feeling Melburnians are all too used to seeing in a heated auction atmosphere which, out of all the states, Victoria rules.
However, whilst the positive data has provided an interesting ‘told you so’ moment from some of our popular property commentators (who are again trying to convince us that property can continually go up in value and effectively double in a time span of  anywhere between 7 – 10 years, depending on their stance) there is plenty of data that should pose a warning for those thinking we’re simply back in the same cyclical atmosphere which leads us through the ebb and flow of the oft-quoted ‘property clock’ where growth can forever outpace the rate of inflation.
John Edwards from Residex was one voice to highlight that sales transactions remain very low nationally, with January and February’s data <a target="_blank" href="/#more-3121">“the lowest seen on an Australia-wide basis since 1999.”</a>
This is a concern, because whilst the population continues to expand and new households inevitably form, we once again have to yearn for an improvement in the construction sector for any indication that the trend of demand to live and invest in established urban areas – which has played a part in disproportionately inflating capital city values – can be moderated through de-centralisation, the process of which is hopelessly hamstrung due to lack of investment in outer suburban infrastructure and ‘inelastic’ policy responses to demand/supply factors.
Notwithstanding, considering our relatively short-term existence, it’s easy to view Australia’s recent inflationary history as the ‘norm’ – imagining the patterns witnessed over a lifespan can repeat ‘forever more.’
Such is the claim of property investors who have ‘lived’ through 2 or 3 ‘cycles’ and foresee a future not much different from their immediate past.
However, if you delve back into the long-term history of house prices, it’s clear how the past 50 years is completely new in relation to the decades that preceded the hearty capital gains we’ve grown accustomed to achieving – gains which hit their peak in 2010 and are once again on the road to recovery – and gains which have shown a disproportionate inflationary trend which could never have eventuated from population growth alone.
Rather our recent historical gains have been primarily fuelled through a massive burden of private debt conjured up through the ‘magic money tree’ of liberal bank lending – far outside of the fabled deposit ratios we were fooled into believing in high-school economics.
I’ve previously written about the <a href="https://www.propertyobserver.com.au/residential/the-centuries-old-crystal-ball-that-proves-australia-s-housing-price-growth-cannot-outpace-inflation-forever/2012111957939/Page-2?utm_campaign=observers&amp;utm_medium=aida&amp;utm_source=po" target="_blank">Herengracht</a> index which charts a 360 year history of house and rent growth along an established strip of prime real estate in Amsterdam; the results of which concluded that outside periodic market volatility caused by wars, famines, and population factors - prices didn’t stray far from the rate of inflation – in real terms, they remained broadly unchanged.
Once completed, the study prompted respected analyst Robert Shiller to conduct his own long-term analysis of USA house prices, after which he stated – pre-GFC (2006) – that we can’t use the past 20 years to predict the future 20 years – a longer time frame is necessary if we’re to establish how sustainable our inflationary environment really is. In 2006 Shiller commented:
“The news is not good for homeowners. According to our data, homeowners face substantial risk of much lower prices that could stay low for a long time after.”
 
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Whilst Robert Shiller’s prophecy is currently playing out in the USA – although exaggerated due to their irresponsible and unregulated system of sub-prime lending, we’ve yet to see any significant or comparable effect on prices in Australia, outside of a relatively short-term blip in median data, amidst various government-imposed measures to keep stimulating (propping up) prices.
Notwithstanding, the trend that Eichholtz’s study on the Herengracht index and Shiller’s of USA prices highlighted, is consistent with other long-term data – most notably data collected and analysed by Nigel Stapledon from The Australian School of Business, who in 2010 put together a detailed paper charting the history of house prices in Australia between <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1711224">1880-2010</a>.
Stapledon gathered the information for his study from various sources – including early advertised price ranges in print media during periods in which more detailed information was unavailable.
He then spliced this together with more recent house price indexes, producing a paper which clearly highlights how unprecedented – on a broader time scale – the comparatively recent, and for the most part unbroken, price hikes in residential real estate outside the rate of CPI inflation, has been.
Click to enlarge
<a href="/images/stories/2013/04/cashmoreapril8one1thumb.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/04/cashmoreapril8one1.gif"></a>
 
Stapledon points out a series of seven ‘major economic cycles’ which include the two great depressions of the 1890s and 1930s, the gold rushes in the 1850s and 1860s, along with various and significant fluctuations in population growth throughout the analysed time scale.
Each played a part in the consequential boom and bust cycles to 1970, however when smoothed out, price growth to this date broadly tracked the rate of inflation changing little in real terms.
Even from 1970 to the most recent boom, prices stayed relatively stable, rising on average only 3% per annum.
However, the latest boom, which peaked in 2010, has dwarfed anything seen prior or since, and in this respect it’s worth quoting Stapledon in full:
“While much has been written about the excesses of the 1880s boom, in terms of magnitude of cyclical upswings in house prices, the price rises of the 1880s pale next to those of the last cycle starting in the 1990s. This last cycle has seen house prices rise by 111% in real terms versus, by comparison, a modest 33% in the 1880s.”
Yes – over the past 20 years, we’ve had the “mother of all property booms” in residential real estate and consequently, we have an asset class well suited to rampant speculation.
Property currently makes up 15% of the total value of assets held by Australian SMSFs and with the government threatening to dip its sticky fingers into super funds, along with evidence that median values are once again on the up, an increased move towards negative gearing is inevitable.
 
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As the Reserve Bank’s assistant governor Christopher Kent recently noted in his speech “Recent Developments in the Australian Housing Market”, investors need no longer fear any capital loss – effectively waving a 'go ahead, green flag' of encouragement to any still sitting on the sidelines whilst at the same time noting recent rises have been driven by “repeat-buyer owner-occupiers as well as investors.”
Potential first-home buyers suffer the unfortunate haphazard consequence of being born too late to enjoy the leverage party with <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CEQQFjAA&amp;url=http%3A%2F%2Fwww.ratecity.com.au%2F&amp;ei=sS1eUY33G4Ghige1h4HYDg&amp;usg=AFQjCNGV8GPQJDyl6LzJtOHvOE6ic--M-A&amp;bvm=bv.44770516,d.aGc" target="_blank">RateCity</a> noting the average first-home buyer’s loan size has not only doubled in the past decade, but now sits almost three times higher than the level borrowed 15 years ago - a figure which is apparently 82% above the inflation-adjusted average loan size.
However, those thinking the past 20 years is a good enough cycle on which to base the next 20, best of luck to you because despite our buffers and to some extent fair economic management through a GFC environment, to expect the real price of residential real estate to continually rise outside the rate of inflation has its fate in a shaky end, as history will attest.
It’s easy to look across the expanse of ocean that separates us from both Europe and the USA and come up with a fairly academic case as to why ‘Australia is different’.  We have the mining sector, low unemployment, population growth, supply constraints, wage growth… all of which is used as evidence to calm would-be investors against any thought that we could suffer the same fate. The premise is, whilst we can continue to pay our debts and prop up consumer spending, it’s ‘all alright Jack’… or is it?
Prior to the GFC, any talk of regulation in banking was effectively brushed aside under the concept that policy was well equipped to deal with the resulting consequences.
However, changes which have been ushered in during the post-GFC environment are no buffer against price rises and arguably only offer limited security against a future which must by definition forever be bigger than the past in order to ensure continued capital growth (a needed reality to our current system of banking).
As Giovannu Dell’Ariccia – an advisor in the research department at the IMF – wrote last year, in a detailed paper entitled <a target="_blank" href="https://www.rba.gov.au/publications/confs/2012/dellariccia.pdf">“Property Prices and Bank Risk-taking”</a>, discussing the effectiveness of policy changes in light of the GFC:
“We should recognise at the onset that there is no silver bullet. Each policy entails costs and distortions. And effectiveness is limited by loopholes and implementation problems. Broad-reaching measures (such as a change in the monetary policy rate) are more difficult to circumvent but they typically involve greater costs. More targeted measures (such as maximum LTV ratios) may have more limited costs but they are challenged by loopholes, which may jeopardise their efficacy.”
His analysis is worth reading in full – primarily because it outlines how difficult it is to restrain credit when there is no “unifying theory of how banks behave over the business cycle and react to changes in asset prices, much less a theory about how banks react specifically to real estate market developments”.
Therefore, at the risk of being called a ‘nervous nelly’ – or worse still – a ‘doomsayer,’ reading recent reports that evidence a return to <a target="_blank" href="https://www.brokernews.com.au/news/breaking-news/are-we-witnessing-the-death-of-the-5-deposit-174052.aspx">‘no deposit’</a> lending and suggestions that <a target="_blank" href="https://www.brokernews.com.au/news/breaking-news/hypocrisy-in-loan-application-requirements-has-broker-fuming-174104.aspx?p=1">‘shonky’</a> practices still sit relatively ‘comfortably’ in our newly ‘regulated’ environment should cause concern.
Therefore, whilst increased confidence and rising medians along with ‘on the face of it’ good economic data can calm worries of an imminent crash, we are in no way immune. Retiring with a debt-free roof overhead is preferable. However, when it comes to investment, take my advice and remain well diversified.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
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