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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Hi Margaret,   
This is a question about the tax deductibility of break costs on an investment loan for an investment property. My husband and I had a fixed rate investment loan which we broke last financial year. I am wondering whether the break cost associated with this loan is tax deductible in the year it is incurred, or whether it has to be classed as a borrowing cost for tax purposes and deducted over a five-year period. Also, does it make a difference if the break cost was capitalised into the new refinanced loan?   
Thanks in Advance,   
Kirsten
 
Kirsten, one of the main reasons why someone breaks a fixed rate loan is because they can get a better <a target="_blank" href="?option=com_googlesearch_cse&amp;q=ask%20margaret">rate</a> elsewhere and so reduce their expenses, and this may be the reason why the tax office allows you to claim these costs completely in the year they are incurred.
In addition to this, the interest on the money you borrow to finance the $20,000 will also be deductible, but only while the property is used to produce income.  
Make sure that you have a complete record of the exact costs which you incurred and give it to your accountant in plenty of time to make the allowable claims.
 
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank" rel="nofollow">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Ask Margaret: When are my loan break costs tax deductible?

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Self-managed superfund trustees decreased their cash holdings in favour of fixed interest and direct property investments after rate cuts in the December 2012 quarter, according to the latest Multiport SMSF survey.
Cash holdings fell 1.9% to 24.5% of total SMSF investments over the December quarter while fixed interest holdings increased 0.6% to 11.2% and direct property investment went up 1.1%.
Property now makes up nearly a fifth of SMSF portfolios (18.9%) compared with 17.6% a year ago.
“With cash losing its appeal in the wake of two interest rate cuts for the quarter, SMSF trustees are looking for a new ‘safe’ home for their investments,” AMP’s Philip LaGreca says.
Growth in the allocation of funds to Australian equities by SMSFs was higher than expected over the calendar year. Most SMSF deposits are concentrated in ASX Top 20 companies which outperformed the All Ordinaries by 22% this year.
The survey looks at 1,900 funds, a sample of the SMSFs Multiport administers and the investments they held as of December 31 2012.
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awalsh-7Ub9EypybQ

SMSF holders move away from cash deposits after rate cuts

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Australian economists mostly agree that the Reserve Bank of Australia’s decision to <a href="/news">leave the cash rate on hold at 3% yesterday</a> likely signifies the end of any further rate cuts this year.
They tend to agree too that while the easing phase has come to an end, any cash rate increases are unlikely to happen again soon.
Commsec’s Craig James says, “With home prices and share prices lifting and global risks dissipating, the Reserve Bank would also be loath to keep super low interest rates in place too long”.
But he adds it’s too early for the RBA to be flagging potential rate hikes either later this year or early next year.
He says the easing bias is still appropriate both to highlight the risks that still exist in the global economy and to sustain momentum in the domestic economy.
Commsec expects the RBA will keep rates unchanged for the next six months and says there is a very small chance it will cut the rate again but this is becoming increasingly unlikely.
“If the Reserve Bank was to cut rates in the next few months it would likely be prompted by fresh global turmoil, especially combined with evidence of weaker US and Chinese growth, low domestic inflation and a high Australian dollar,” James says.
“An interest rate hike would only be contemplated if there were solid evidence of stronger US and Chinese economic growth, firmer domestic growth, greater confidence of a lift in investment outside the mining sector and greater upside risks for Australian inflation.”
HSBC chief economist Paul Bloxham described yesterday's rate-hold as “tactically dovish”.
He says given the high Australian dollar, it’s prudent for the RBA to be dovish, but that it doesn’t necessarily mean it will follow through with further cuts.
“With demand already picking up in the interest-rate sensitive sectors of the economy, we remain of the view that the easing phase is done,” Bloxham said
He offered no prediction of how long until the next cash rate increase.
ANZ said the easing bias is increasingly tactical with it increasingly unlikely that they will cut rates again.
ANZ expects the RBA will maintain its bias towards further easing if the non-mining economy does not pick more strongly but it probably won’t cut rates further.
“While we still view a rate cut mid-year as a distinct possibility, in part because this will follow the next read on businesses’ capital expenditure intentions, the chances of a cut occurring appear to have diminished. Nevertheless, we see little risk of a rate rise this year as some are predicting.”
 
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Economists agree RBA easing cycle may be over but increases to the cash rate not imminent

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Dwelling values across Australia's capital city markets rose 2.8% over the March quarter, the strongest result seen since March 2010, according to the RP Data-Rismark March Hedonic Home Value Index Results.
Values were up a strong 1.3% over March.
Every capital city recorded a rise in dwelling values over the month apart from Adelaide, which remained steady over March.
Perth recorded the highest level of growth over the month of March, with dwelling values increasing 3.4% to a median price of $479,000.
However Hobart was the best performing capital city over the quarter with an increase of 6.1% to $332,500 following a 2.5% increase over March.
It still remains the nation’s most affordable capital city market in terms of dwelling values.
Melbourne recorded a 2.5% rise in dwelling values over the quarter and a 0.8% rise over March with a median dwelling price of $475,000.
Sydney recorded a 3.4% rise over the quarter and a 1.5% rise over March and remains the most expensive capital city market, with a median dwelling price of $550,500.
The weakest property market was Adelaide, with values unchanged over March, and down 0.5% over the March quarter.
Adelaide is the only capital city to record a fall in values for the first three months of the year.
 
Year-on-year, the report shows that Darwin has experienced the greatest rise in value of 7.3%.
“The March 2013 result is one of the strongest we’ve seen over the three years since March 2010,” says Rismark International CEO Ben Skilbeck.
“Further, it was the strongest quarterly growth seen since the three month period ending May 2012,” says Skilbeck.
“Since the capital city housing market bottomed out at the end of May last year, we have seen dwelling values rise by 4.7% after falling by 7.4% from their market peak back in late 2010,” says RP Data research Director Tim Lawless.
Lawless says the most significant recoveries have been recorded across Darwin where values have risen 13.9% since bottoming out in January last year, and Perth where values are up 9.4% since November 2011.
“Both cities are recording rental growth higher than 10% year on year which is providing a significantly higher total return compared with other cities,” says Lawless.
According to the index - which factors in the gross yield as well as capital gains – Darwin is recording a year on year gross return of 13.9% and Perth is recording a total gross return of 10.6%.
“Both are significantly higher than the combined capitals average of 6.9% gross,” says Lawless.
The middle priced housing sector is continuing to show the healthiest market fundamentals.
Rismark’s Ben Skilbeck says the investor segment of the housing market is showing greater responsiveness to the low interest rate environment than the owner occupied segment.
“The gross capital city unit rental yields now at 4.9%, and a number of short term fixed rate loans also being offered at these levels, it’s not surprising to see investors responding to these conditions more quickly than owner occupiers,” says Skilbeck.
The report suggests that there are many indications that the housing market recovery will continue.
“Auction clearance rates haven’t been below 55% on any occasion so far this year, and over recent weeks the capital city weighted average clearance rate has been around the 60% mark with Melbourne and Sydney nudging the 70 mark,” says Lawless.
“RP Data’s Mortgage Index, which tracks activity across the RP Data mortgage platforms, reached levels not seen since August 2009, suggesting housing finance commitments are likely to show a decent lift when the ABS publishes the data for February and March later this year,” Lawless says.
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Capital city dwelling values record highest quarterly rise in three years: RP Data

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Around $3.5 billion of commercial property priced over $5 million changed hands over the first quarter of the year with A-REITs returning to the market, according to CBRE.
This is a 15% increase compared to the same time last year.
CBRE’s head of research for Australia, Stephen McNabb, says the data signals a healthy start to the calendar year.
Domestic investors were prominent over the quarter with the the level of domestic buying 33% higher in the first quarter  of 2013 when compared with  the March 2012 quarter.
However, foreign purchaser activity was down 31% for the quarter.
CBRE national director of capital markets Josh Cullen says the re-emergence of the domestic REIT’s seeking core investments across all property sectors was a positive sign for 2013. 
“In the past week alone we have received in excess of $4.5 billion worth of offers with the closure of sales campaigns for Raine Square in Perth and the GE Core portfolio,” says Cullen. 
“The local REIT’s are well positioned with both balance sheet and wholesale capacity to take advantage of quality offerings in the market place. Leveraging has reduced to around 26% from a peak of circa 40%, which would imply funding capacity of $6 billion if leverage moved back to a still conservative level of around 32%.”
A-REIT acquisitions are up by $1.4 billion over the year to March 27, 2013 compared to the previous year.  
A-REITs  have become net purchasers over the period.
Assuming 10% of the current $30 billion in super fund cash allocations was also directed to domestic property, CBRE estimates that some $3 billion in A-REIT and superannuation money could find its way into the property market. 
However, Cullen says one issue was the lack of quality stock openly available and this was expected to result in cap rate compression for core assets.
Around $14.3 billion in commercial sales have been reported for the 12 months to March 27,  a 1% increase compared with the $14.2 billion recorded in the year to March 2012.
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Commercial property sales up 15% in first three months of the year with A-REITS returning: CBRE

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Canberra house and unit vendors are offering slimmer discounts than their counterparts in other Australian capital cities in order to secure sales, according to the latest information from RP Data.
Figures for the week ending March 10 show Canberra units are selling for an average of 2.5% less than their initial asking price.
Houses in the Australian capital were selling for an average of 4.1% that their initial asking price – a figure matched by Darwin.
<img alt="rpdatavendordiscountingmarch14" height="357" width="470" src="/images/stories/2013/03/rpdatavendordiscountingmarch14.gif">
The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price.
The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations.
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po-LsXgBTHBmX

Canberra vendors discounting less than other capitals: RP Data

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Sydney units are spending an average of just 49 days on the market before being sold - a stark contrast to the much longer waits for units in Adelaide, Darwin and Brisbane - according to the latest information from RP Data.
The figures for the week ending March 3 show Adelaide units spend an average of 95 days on market, while Darwin units spend an average of 91 days on market and Brisbane 88 days.
There is less variation among Australian capitals when it comes to house sales, with Brisbane houses spending an average of 87 days on market and Canberra houses spending an average of 65 days on market.
<img height="363" width="470" src="/images/stories/2013/03/rpdataweeklymarch5timeonmarket.gif" alt="rpdataweeklymarch5timeonmarket">
'Time on market' (TOM) is the average number of days between when a property is first listed for sale and the contract date.
The statistics are calculated across results received by RP Data over the past week and include properties transacted over the past four weeks. The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Sydney units spending least time on market: RP Data

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Total construction work in Australia fell 0.1% in December, according to Australian Bureau of Statistics figures released yesterday, defying economists' more optimistic expectations.
It had been previously predicted construction jobs would rise by 1.5% for the quarter, but the results suggest the construction industries woes are not yet over.
The latest Australian Securities and Investment Commission statistics indicated the construction industry had the highest number of insolvencies in 2012, making up over a fifth of the total 10,632 companies.
Savanth Sebastian, market analyst at CommSec noted while construction work eased in the December quarter, work done was still up 11.9% on a year ago and just holding shy of the record highs reached in the September quarter.
"In addition September quarter construction was revised up from 1.7% to 1.9%," he said.
Commercial building work done rose by 2% in the December quarter with residential work up 1.7% while engineering work fell by 1.3%.
South Australia (down 9%) and Western Australia (down 7.5%) lead the declines.
"The modest decline in construction activity is hardly anything to be concerned about," Savanth Sebastain said.
"The weakness in the latest result was largely driven by the pullback in engineering activity driven by the mining services sector late last year and confined to Western Australia and South Australia.
"Given the subsequent improvement in Chinese activity and rebound in commodity prices some of the weaknesss in engineering activity would be reversed in coming months.
"Residential building work rose for the second straight quarter and while it is starting off a low base the improvements are certainly encouraging.
"The housing sector is showing signs of life given the low interest rate environment and the fundamentals remain sound for a healthy pickup in residential construction.
"Low interest rates, pent up housing demand, strong population growth, and low unemployment coupled with state and federal govenement grants should ensure that residential construction coninues to improve over the coming year," he said adding the Reserve Bank would be encouraged by the pickup in residential activity.
 
 
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jchancellor-FAypfDUnLy

Housing sector signs of life, but total construction work fell 0.1% in December: ABS

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After showing a consistent upwards trend, the proportion of homes selling at a loss across the country has eased over the final quarter of 2012.  Based on all dwelling sales over the December quarter 2012, 12.5% of all properties sold for less than their initial purchase price compared to 32.1% of homes selling for more than double their original purchase price.  The result highlights that many vendors continue to enjoy a significant profit on the sale of their home, with 45.1% of all home sales over the quarter realising a profit of more than 50% greater than the purchase price.

<a href="https://blog.rpdata.com/wp-content/uploads/2013/02/Sales-at-a-loss-vs-double-purchase-price.jpg" target="_blank"><img height="182" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/02/Sales-at-a-loss-vs-double-purchase-price.jpg" title="Sales at a loss vs double purchase price" class="aligncenter size-full wp-image-1936" id="_x0000_i1025"></a>

As the above graph shows, the instance of homes selling at a loss has eased over recent months, but on an historic basis the trend remains at elevated levels.  On the other hand, the proportion of homes selling for more than double their purchase price is at low levels after trending lower over recent times.  The proportion of homes sold at a loss has eased from an historic high of 13.5% of all sales over the three months to September 2012.  Although 13.5% of properties sold at a loss over the September 2012 quarter, 30.9% of all homes still sold for more than double their initial purchase price.

The important thing to note with this data is that just because a person has sold at a loss it doesn’t necessarily indicate financial strain.  Some vendors are obviously willing to take a loss on the sale of their home if they are re-purchasing at what they perceive to be a lower price.  The most recent housing loan arrears figures published by the Reserve Bank showed that around 0.6% of all loans across the country were past 90 days due.  Nevertheless, there are regions across the country which are of concern because of the high proportion of homes selling at a loss.

Across individual capital city housing markets, the proportion of homes sold at a loss over the December quarter 2012 ranges from 5.3% of homes in Canberra and Darwin to 18.9% in Brisbane.  On the other hand, the instance of homes selling for more than double their initial purchase price was as high as 43.0% in Perth and as little as 26.4% in Sydney.  It is, of course, a concern that almost one in five homes sold in Brisbane over the quarter sold at a loss. However, the majority of homes still showed a profit on sale.  Across the combined capital cities, the instances of loss are much lower than those nationally.  Over the December 2012 quarter, 9.9% of capital city house sales were made at a loss, compared to 33.2% of sales at prices that were greater than double the original purchase price.

<a href="https://blog.rpdata.com/wp-content/uploads/2013/02/Capital-city-table.jpg" target="_blank"><img height="223" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/02/Capital-city-table.jpg" title="Capital city table" class="aligncenter size-full wp-image-1937" id="_x0000_i1026"></a>

Throughout non-capital city housing markets the instances of loss has been quite varied.  Coastal markets which are associated with tourism and were formerly popular with ‘sea changers’ have typically incurred the greatest proportion of loss-making home sales.  Conversely, regions linked to the mining and resource sector have typically been much less inclined to incur a significant loss on the sale of a home.

Queensland’s Gold Coast, Sunshine Coast and Far North (which includes Cairns) regions have recorded the greatest proportion of homes selling at a loss over the quarter.  These three regions have recorded 39.4%, 34.5% and 33.8% of homes respectively selling at a loss over the quarter.  Most of the other regions which have realised the greatest proportion of sales at a loss are prominent coastal housing markets.

<a href="https://blog.rpdata.com/wp-content/uploads/2013/02/Greatest-instance-of-loss-regional.jpg" target="_blank"><img height="402" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/02/Greatest-instance-of-loss-regional.jpg" title="Greatest instance of loss - regional" class="aligncenter size-full wp-image-1938" id="_x0000_i1027"></a>

Regional markets that are linked to the mining and resources sector have generally seen the lowest instances of loss over the quarter.  It is important to note that the turnover of stock in many of these regions is quite low due to limited housing stock across these markets.  The Far West region of New South Wales has recorded no sales at a loss over the quarter while Western Australia’s Pilbara region has only seen 2.3% of all sales at a loss and North Western New South Wales has recorded 4.3% of all home sales at a loss.

<a href="https://blog.rpdata.com/wp-content/uploads/2013/02/Lowest-instance-of-loss-regional.jpg" target="_blank"><img height="405" width="470" src="https://blog.rpdata.com/wp-content/uploads/2013/02/Lowest-instance-of-loss-regional.jpg" title="Lowest instance of loss - regional" class="aligncenter size-full wp-image-1939" id="_x0000_i1028"></a>

Overall, in certain areas there has been a high proportion of homes sold at a loss over the quarter. However, it is encouraging to see that the instances of loss broadly across the country is falling.  The regions most susceptible to losses are the coastal markets, which were very popular with ‘sea changers’ in the lead up to the financial crisis, as well as being popular locations for holiday homes.  As demand has fallen, vendors have had to significantly drop their prices in order to sell in these regions. This is reflected in the fact that certain markets are seeing a large proportion of homes selling at below their previous purchase price.  The better news is that there is not one region across Australia where the majority of sales are occurring at a price below the previous purchase and subsequently most vendors are realising some form of profit on the sale of their home.
Cameron Kusher is senior research analyst at <a rel="nofollow" href="https://www.myrp.com.au/" target="_blank">RP Data</a>.
Photo by John Nuttall, courtesty of Flickr
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'Sea changers' markets most susceptible to losses: RP Data

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The Prime Minister Julia Gillard has sold her Canberra investment property for $615,000. It cost $540,000 in late 2005, representing just 1.7% annual price growth.
The Prime Minister declared the sale of the apartment in the tightly held 2005 Kingston complex of 24 apartments in her latest update to the register of member's interests on February 5 this month.
It had been rented by Gillard in January 2011.
The two-bedroom Wentworth Avenue apartment with two bathrooms, two balconies, and two basement car spaces had previously been occupied by her before moving to The Lodge when she became Prime Minister in 2010.
It was quietly listed in August, and sold about 57 days later in October last year with settlement last month through Elders Dickson Real Estate.
<a href="https://www.eldersrealestate.com.au/residential/buy/property-unit-act-kingston-507253">The marketing brochure </a>described the 129-square-metre apartment as having “exceptionally generous” space.
"The floors are a combination of timber and pure wool carpet,and together with subtle neutral colours give the whole apartment a feel of luxury," the selling agent Birgitte Moltke said. Moltke was also the agent who had the listing in 2007 with a $530,000 asking price, but official property data indicates its last sale was in 2005 at $540,000.
In 2011 there were three sales between $595,000 and $615,000. The block's highest recent sale was in mid-2011 when $640,000 was achieved for a three bedroom apartment that had previously sold in 2005 for $549,000, reflecting 2.4% annual growth.
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<div class="promo-block promo-image-01 ">“While the sale occurred at the end of October 2012, financial matters related to the transaction were not finalised until the last week of January 2013,” the spokesperson told The Australian.</div>
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<div class="promo-block promo-image-01 ">Canberra's recent real estate price growth status is being questioned especially given the<a href="https://www.propertyobserver.com.au/australian-capital-territory/canberra-property-market-likely-to-tread-water-in-election-year-but-not-without-uncertainty/2013020159081" target="_blank"> prospect of a change of government affecting public service levels</a>. APM recorded a Canberra unit prices rose 3.8% over the December quarter to finish the year almost where they began at a $415,000 medium.</div>
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Canberra set for 4,900 new homes under Federal housing deal

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