For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

A regional housing taskforce will be set up to aleviate the supply shortage of new housing lots across NSW.

It comes after more than 18,000 new homes have been earmarked for immediate rezoning in Sydney&rsquo;s south-west.

Minister for Planning and Public Spaces Rob Stokes made the announcement at an Urban Development Industry Association (UDIA) event last week.

Stokes said the Government&rsquo;s focus was now on creating new greenfield housing supply. 
&nbsp; 
&ldquo;It&rsquo;s clear that as a result of the pandemic, demand for greenfield housing has increased even more than anticipated so we are responding with new housing in some of Sydney&rsquo;s best growth areas, the south-west and the Macarthur,&rdquo; Mr Stokes said.

[smartcode_project:default project_id=32227 project_image_fid=93954] 
&nbsp; 
&ldquo;Housing supply is not just important in Sydney but across our regions, which are experiencing strong growth as we bounce back from drought and as more people are working flexibly and remotely. 
&nbsp; 
&ldquo;This is why I am setting up a regional housing taskforce to report back by September on how we can better use the planning system and other levers to boost supply.&rdquo; 
&nbsp; 
The government confirmed Sydney&rsquo;s south-west would see a new Glenfield Precinct with 7,000 dwellings along with 7000 dwellings at Lowes Creek Maryland.

Leppington 2 and 5 will see up to 2,400 new dwellings including 1,900 dwellings in Stage 2 and 500 dwellings in Stage 5.

[smartcode_project:default project_id=7317 project_image_fid=79248]

The Wilton Town Centre Precinct will have 1600 dwellings.

It was 2019 when Stokes advised a new approach would clear the decks of planning proposals stuck in the system. 
&nbsp; 
&ldquo;Sydney&rsquo;s population is growing rapidly and this is our plan to fast-track the creation of great new places, from Camden to Crows Nest, Wilton to Westmead,&rdquo; Mr Stokes said.&nbsp; 
&nbsp; 
&ldquo;Our new approach clears the way forward to deliver more than 50 new precincts right across the city.&rdquo;

All NSW councils are required to be using the NSW Planning Portal to lodge development applications and complying development certificates by 1 July 2021, in line with the Premier&rsquo;s 2019 mandate.

There is a taskforce that will report back by September on creating new greenfield housing supply.

jchancellor

NSW Government shifts focus to creating new regional greenfield housing supply

Rawson Communities&rsquo; latest community of Leppington Central delivers the ideal family living experience in Sydney&rsquo;s south-west.

Situated on Heath Road, the site is anchored by a heritage cottage, a rural remnant of the Tegal family farm, one of the first poultry farms in NSW.

The cottage was one of the secondary buildings on site, likely the home of one of the Tegel sons, and not the main homestead itself, according to the development application.

[smartcode_project:default project_id=28100 project_image_fid=141042]

&ldquo;The cottage is the most valuable house within the development&rdquo;, the architects said. It provides the foundation of their understanding of the architectural style of the property.

<blockquote>
&ldquo;We seek to draw on the art-deco language, as well as sit with the remnant piece of architecture on site in the heritage cottage&rdquo;, they said.
</blockquote>

A gate, which still stands from the same period, represents the high optimistic art-deco period, even more so than the cottage.

[smartcode_project:default project_id=28100 project_image_fid=141047]

The heritage features speak of the absolute moment of success when industry was booming and discretionary spend could be afforded on the front entrance.

Leppington Central is set to provide 75 three-bedroom residences on the site, boasting spacious floorplans and convenient access to amenities.

A range of employment and community facilities are planned close by, including business centres, shopping centres, schools and universities.

[smartcode_project:default project_id=28100 project_image_fid=141045]

A hardstand barbeque area has been included centrally for easy access from all the homes.

Other amenities include a pedestrian loop with a small playground, aimed to entertain toddlers and younger children. &nbsp;

Leppington Central also offers land packages to buyers interested in capitalising on this affordable suburb.

Situated on Heath Road, the site is anchored by a heritage cottage, a rural remnant of the Tegal family farm, one of the first poultry farms in NSW

max.kwok_55688

The design decisions behind Rawson Communities’ latest Leppington masterplanned community, Leppington Central 

Sierra Residences is among the newest residential developments finding roots in Sydney&rsquo;s north-western suburb of Kellyville.

Delivered by Metro Property Development, Sierra boasts a boutique collection of 51 house and land sites&nbsp;with prestige inclusions.

Situated in an area of booming growth, residents can enjoy natural bushland, local parks, village hubs and major retail centres, positioned between Rouse Hill and Castle Hill.

[smartcode_project:default project_id=94621 project_image_fid=155474]

&ldquo;[Sierra] presents the perfect family address, enjoying excellent amenities and connectivity&rdquo;, the project marketing reads.

Designed to suit a variety of lifestyle needs, 11 architecturally designed freestanding residences are included within the residential development.

The four-bedroom, two-bathroom residences include high-quality kitchen finishes, such as engineered stone benchtops and stainless steel Miele appliances.

[smartcode_project:default project_id=94621 project_image_fid=155478]

Among its other features include built-in robes, ducted air conditioning, low-maintenance gardens and modern chrome hardware.

Set amongst beautiful streetscapes, many Sierra homes also enjoy Blue Mountains views.

Kellyville is the ideal Sydney suburbs for young families, with nearby schools including Ironbark Ridge Public School, which offers opportunity classes (OC).

[smartcode_project:default project_id=94621 project_image_fid=155473]

Sierra Residences is located a brief four-minute drive to the Kellyville Station, well-serviced by metro trains that connect to Macquarie Park, Chatswood and soon the new inner-city line.

Families can enjoy living in close proximity to Kellyville Park&rsquo;s sporting complexes, Castle Hill Country Club, the historic Bella Vista Farm and Castle Towers.

The freestanding homes are listed from $1,125,000.

Delivered by Metro Property Development, Sierra Residences boasts a boutique collection of 51 house and land sites with prestige inclusions

Sierra Residences, the brand-new four-bedroom homes coming to Sydney’s north-west

The Greater Sydney apartment pipeline is tipped to plunge by 2024, with the 36,275 new apartment developments to be completed over the next three years, well below the 67,925 recorded in the prior 2018-20 period.

The major decline has been revealed in Knight Frank Research&rsquo;s Australian residential development review 2021, which tips a 47 percent decline.

&ldquo;Limited new apartment project launches in recent years have highlighted the supply issues ahead for Sydney with decade low levels of new supply in the pipeline,&quot; said Knight Frank&rsquo;s head of residential research, Michelle Ciesielski.

She also noted as developers commence construction, &quot;they&rsquo;re likely to feel the pinch from rising building costs and sourcing labour with limited migration and competition from a mammoth pipeline of state and federal government infrastructure projects being fast-tracked.&quot;

<a href="/developments/sydney-nsw?source_news_article_id=103013&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_7.jpg" width="1200" /></a>

&ldquo;With an increased reliance on sub-contractors, there is also competition coming from those dabbling in home renovation post lockdown.&rdquo;

Despite a weakening apartment market, NSW has for the 9th straight year maintained its position as the nation&rsquo;s leader for developer&rsquo;s expanding their sites portfolio, accounting for almost half of all sales in Australia last year.

Of the $4.1bn of total residential development site sales recorded nationwide in 2020, Sydney accounted for $1.97bn which was above Victoria ($1.29bn), Queensland ($642m) and Western Australia ($84.8m).

While high-density apartments made up the majority of total Sydney residential development sales ($1.3bn in 2020), Sydney also experienced a significant increase in low-density developments.&nbsp;

[smartcode_project:default project_id=32227 project_image_fid=93945]

Last year, 27.6% of development sites purchased across Greater Sydney were suitable for low density development,which was almost double the 14.2% share of low-density developments recorded in 2019.

Overall, a total of 8,280 new single allotments were released across Greater Sydney in 2020, up 70.4% on 2019, while low-density building approvals grew by 7.5%, with 26,483 single dwellings.

Despite the trend away from high-density projects in Greater Sydney, Knight Frank noted there were developers making longer term plans for this product with a rapid rise in collective site developments &ndash; considered those with the potential for residential development and including more than one vendor&ndash;with GreaterSydney recording $474.7m of sales in 2020.&nbsp;

The investment being made in collective site developments in Sydney is the highest among all capital cities.

Knight Frank&#39;s Head of Investment Sales in NSW, Grant Bulpett said: while HomeBuilder has lured first home buyers to the low-density market, many developers were already seeking longer term plays with significant englobo parcels being purchased in recent years.

&ldquo;This gives these developers options to subdivide, then turn the tap on and off to meet market demand.

&ldquo;With strong off the plan sales, low-density developers in Sydney are certainty operating in a low risk environment, however the increases in contributions and delay in service delivery in emerging markets is proving difficult to navigate.&rdquo;

&ldquo;With the residential market heating up, many developers are favouring development approved sites to get their project sales moving and capitalise on the current demand.&rdquo;

Despite the trend away from high-density projects in Greater Sydney, Knight Frank said there were developers making longer term plans

Upcoming three-year pipeline of new Sydney apartments sees a significant drop: Knight Frank

One of the penthouses in the Sirius building at The Rocks has been sold to a $19 million buyer from Coogee, setting a new high for Sydney&rsquo;s luxury apartment market of more than $118,000 a square metre.

A larger $35 million penthouse sale equates to $112,000 a square metre, when the 311 square metre space on top of the original brutalist building sold off the plan for $35 million yesterday to a buyer from Point Piper.

<img alt="" height="850" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sirius_2.jpg" width="1200" />

The apartments were sold through Ben Stewart and the CBRE chairman Justin Brown.

The remaining seven penthouses and 67 pod style apartments will be offered for sale this Saturday.

The boutique development will have a dress circle position overlooking the harbour and Opera House.

<a href="/developments/sydney-nsw?source_news_article_id=103010&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_6.jpg" width="1200" /></a>

The developer JDH Capital is headed by the former Macquarie banker Jean-Dominique Huynh, who commissioned Australian firm BVN to designed the 76 luxury apartments within and atop of the original building.

Prior record prices per square metre include sales in the Opera complex, just across Circular Quay, that fetched a&nbsp;record-setting $96,400 per square metre off the plan in late 2016.&nbsp;

The state government sold the site for $150 million with the building designed in the late 1970s by architect Tao Gofers for the NSW Housing Commission.

&nbsp;

A buyer from Coogee set a new high for the luxury apartment market of more than $118,000 a square metre

Sirius penthouses selling for up to $118,000 per square metre in The Rocks

The Sydney developer ALAND has seen a flurry of sales at two of their Greater Western Sydney developments, as investors continue to&nbsp;look away from the regional areas and invest closer to the city.

ALAND&#39;s Greater Western Sydney projects Schofield Gardens in Schofields, near Kellyville,&nbsp;and their Liverpool development Hoxton, have seen a sharp increase in investor demand.

Data from My Housing Market found that area&#39;s such as Wollongong to the south of Sydney and Newcastle and Central Coast to the north see rental yields in the mid three percent range, when calculating the area&#39;s median property price and median rental price.

ALAND&#39;s Schofield Gardens development has investors seeing gross rental yields topping 4.7 per cent.

[smartcode_project:default project_id=29042 project_image_fid=165529]

&ldquo;What Sydney property investors don&rsquo;t realise is that they can make much more money in their own backyard than they can in regional areas, while taking advantage of what will probably be much higher capital gains,&rdquo; ALAND sales director Mark Bernberg said.

&ldquo;Sydney&rsquo;s western suburbs are ripe with investment opportunities and no shortage of rental demand.

&quot;Investing in a freshly-built apartment saves many headaches as well, with next to no maintenance required for the first few years of its life.&rdquo;

Schofield Gardens will home one-, two- and three-bedroom apartments on Grima Street, opposite Schofield&#39;s Woolworths and train station.

[smartcode_project:default project_id=29042 project_image_fid=165522]

Prices at Schofield Gardens start from $450,000 for a one-bedroom apartment with parking. Two beds are priced from $550,000 and three-bedroom apartments from $699,000. Completion is slated for mid-2022.

The Schofields Precinct was rezoned by the NSW government in 2012 and new planning controls were put in place to allow for urban development, which the government said at the time would include nearly 3,000 new homes.

ALAND are also seeing investor demand creep back in to their Liverpool apartment tower The Hoxton.

The 32-level tower in the heart of Liverpool, again a short walk from the closest train station, will home 331 apartments.

[smartcode_project:default project_id=9198 project_image_fid=164866]

One bedders in The Hoxton start from $480,000, two-bedroom apartments from $523,000 and three bedroom apartments from $677,000. ALAND also have a mid-2022 completion for The Hoxton.

In 2019, the NSW Government said that population growth for the Liverpool area was expected to increase 26 per cent over the next decade.&nbsp;

The increase in investors in Greater Sydney comes after Knight Frank Research Australian residential development review 2021 found that the&nbsp;Greater Sydney apartment pipeline is tipped to plunge by 2024 by nearly 50 per cent.

The 36,275 new apartment developments to be completed over the next three years are set to be well below the 67,925 recorded in the prior 2018-20 period.

ALAND's Greater Western Sydney projects Schofield Gardens in Schofields, near Kellyville, and their Liverpool development Hoxton, have seen a sharp increase in investor demand

ALAND see investor demand spike in Greater Sydney apartment projects

Local Central Coast buyers are enjoying refined coastal living at JMGM&rsquo;s latest Gosford development, Horizon.

Set across 19-storeys, the Mann Street development comprises 182 one, two and three-bedroom apartments, as well as 2,500sqm of retail space.

[smartcode_project:default project_id=101204 project_image_fid=162046]

The Gosford region is not just for locals. Many buyers have begun recognising the beauty of the area and its sparkling waterways, sandy beaches and family-friendly activities on offer.

The area continues to grow and thrive as both a desirable place to live and a flourishing tourist destination, home to renowned beaches such as Avoca, Terrigal and MacMasters Beach.

Gosford is an attractive and affordable option for first home buyers and investors alike, boasting strong rental returns and positive capital growth.

[smartcode_project:default project_id=101204 project_image_fid=162047]

Designed by Lutolli Architects and Partners, Horizon has been carefully crafted as a modern and luxurious tower, boasting exceptional views and spacious interiors.

Each residence&rsquo;s kitchen is characterised by sculptural curved surfaces and a sophisticated, timeless palette of warm neutrals.

The home&rsquo;s feature floor-to-ceiling windows, wrap-around balcony, open-plan living and dining, and amazing views across Gosford, Brisbane Water and National Parklands.

[smartcode_project:default project_id=101204 project_image_fid=162051]

&ldquo;Floor-to-ceiling windows and frameless glass balconies bring views into your living and dining spaces&rdquo;, the project marketing reads.

Exclusive amenities available to residents include an outdoor pool, pool lounges and Swedish-inspired sauna.

[smartcode_project_cta: project_id=101204]

Local Central Coast buyers are enjoying refined coastal living at JMGM’s latest Gosford development, Horizon

Coastal living at Gosford’s newest residence: Introducing Horizon by JMGM

The Cronulla mall is set for a $350 million facelift, with the Sydney developer Sammut Group set to create a new mixed-use retail and residential precinct.

The mixed-use urban renewal project at the northern end of the Cronulla Mall, which the&nbsp;Sutherland Shire Council calls the Northern Gateway site, will see the old retail and commercial and retail space renovated and extended.

The 5,225 sqm development, called Vue, will also home&nbsp;122 one, two and three bedroom apartments, developed above the shopping precinct.

<img alt="" height="1005" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/vue_3.jpg" width="1200" />

&ldquo;This is a game-changing development that will provide the catalyst for the future revitalisation and growth of the Cronulla CBD,&rdquo; Sammut Group director Allen Sammut said.

&ldquo;It&rsquo;s a pivotal project for the area, particularly the many businesses in Cronulla that have been struggling in recent years.

&ldquo;We&rsquo;re extremely excited and eager to see our vision for this iconic gateway site come to life, ushering in a new era of optimism and opportunity for Cronulla.&rdquo;

<img alt="" height="990" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/vue_2.jpg" width="1200" />

There will be 885 sqm of commercial space, as well as&nbsp;speciality shops, restaurants and full-line major supermarket brand Harris Farm Markets, set to become their flagship store.

It&#39;s the same location where there was a 20-level tower proposed back in 2017 by a different development group.&nbsp;

About the developer

Established as Sammut Constructions by Paul Sammut over five decades ago, the family-owned business is now headed by sons Allen and John, and grandson Julian Sammut, who have evolved the business into &lsquo;Sammut Group&rsquo;.

They have won over 40 major industry awards for their projects and have an extensive portfolio&nbsp;in the New South Wales market and the local market with Banc, Loft, Breeze and Drift all developed in the Sutherland Shire.

Sammut are developing Vue with the Sydney-based investment group Alceon, who they are also teaming up with for the <a href="/news/qld/tower-reveal-sammut-lodge-plans-for-200-million-surfers-paradise-apartment-tower-coast">$200 million luxury Surfers Paradise development</a>.

The 5,225 sqm development, called Vue, will also see 122 one, two and three bedroom apartments developed above the shopping centre

Sammut Group's $350 million mixed-use development Vue to change Cronulla CBD

The NSW Treasurer Dominic Perrottet has released a progress paper on the Government&rsquo;s property tax proposal for stamp duty reform.

The reform would see an optional longterm annual land tax paid by residential home buyers who opted out of the current one-off, upfront stamp duty obligation.

The paper notes feedback and submissions from the community and stakeholders received over the past six months.

The paper acknowledges there were &quot;mixed views regarding how the property tax could impact the ongoing affordability of property in NSW.&quot;

It noted some industry stakeholders and members of the community suggested that removing stamp duty would cause upward pressure on prices due to an increase in spending power.

But the paper relied on the McKell Instutute which suggested while the introduction of the property tax may place upward pressure on house prices in the short term, &quot;the reduction in stamp duty costs will still result in a net positive effect on housing affordability.&rdquo;

<a href="/developments/sydney-nsw?source_news_article_id=102661&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_5.jpg" width="1200" /></a>

The paper advised several financial institutions and the Tax Institute provided feedback that the annual property tax would need to be considered in determining a borrower&rsquo;s capacity (&lsquo;loan serviceability&rsquo;) to repay 
any home loan.&nbsp;

Lenders would need to take property tax payments into account as part of their Household Expenditure Measure (HEM) when determining maximum lending limits, which the paper concluded would minimise the pricing impact of property reform on driving up bidding in auctions.&nbsp;

&quot;Any savings made by opting-in to property tax will therefore be unlikely to translate to an increase in property prices,&quot; it concluded.

The proposal was originally outlined in the November 2021 NSW budget.

The paper provides additional detail on the proposed reform, which would give prospective homeowners the choice to pay stamp duty or a small, annual property tax when they purchase their new home.

[smartcode_project:default project_id=32227 project_image_fid=93954]

Mr Perrottet said the NSW Treasury &ldquo;Have Your Say&rdquo; website received more than 23,800 visits with 3,544 surveys completed since the proposal was announced last November.&nbsp;

It also received 57 detailed submissions from industry stakeholders and 196 community submissions.

&ldquo;We are proposing a once in a generation reform to make home ownership more affordable and achievable, and the engagement and interest from across all segments of the community has been significant and heartening,&rdquo; Mr Perrottet said.

The key findings of the consultation period include:

&middot; &nbsp; &nbsp; &nbsp; &nbsp; A strong view that reform of the existing system is needed;

&middot; &nbsp; &nbsp; &nbsp; &nbsp; The proposal resonates strongly with first home buyers struggling to save for a deposit and also pay stamp duty;

&middot; &nbsp; &nbsp; &nbsp; &nbsp; Some stakeholders have concerns about how any reform could impact them;

&middot; &nbsp; &nbsp; &nbsp; &nbsp; The annual nature of the proposed tax raises uncertainty over potential rate increases over time;

&middot; &nbsp; &nbsp; &nbsp; &nbsp; The proposal would benefit people seeking greater mobility who would not be faced with significant transfer duties each time they purchase a property, and

&middot; &nbsp; &nbsp; &nbsp; &nbsp; The more people learn about the proposed reform the more comfortable and supportive of the proposal they became.

&ldquo;The first round of consultation and submissions showed 84 per cent of people believe stamp duty reform is needed and two thirds of the community said stamp duty was a significant barrier to home ownership,&rdquo; Mr Perrottet said

[smartcode_project:default project_id=7317 project_image_fid=79239]

&ldquo;Making changes to the property tax system is highly complex and we want to make sure we get this right.&quot;

The paper raised the prospect of a lower than advised rate for owner- occupied residential property, but higher for commercial and residential investment properties and unchanged for farmland.

Comments on the additional information presented in the paper can be sent to TaxReformTaskforce@treasury.nsw.gov.au by Friday 30 July 2021.

To read more, <a href="https://www.nsw.gov.au/initiative/property-tax-reform">click here</a>.

The reform proposal resonates strongly with first home buyers struggling to save for a deposit and also pay stamp duty, according to NSW Treasurer Dominic Perrottet

NSW stamp duty reform could prompt short term housing price rises: NSW Treasury

A 253 sqm Darlinghurst development site was the most viewed land/development auction listing on the realcommercial website in May.

The two terrace site is 93-95 Crown Street, Darlinghurst.

It comes with development approval offering a FSR: 3:1 with 22 metres height limit.

The approval for 16 self contained rooms and approx 210sqm of commercial space.

It is currently leased for $161,400 per annum.

<img alt="" height="887" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/crown_dev_plans.jpg" width="1200" />

The land/development category outperformed other categories on views per listing this month on realcommercial.com.au, recording 120% year-on-year growth and a 16% month-on-month increase.

At a national level, &lsquo;Buy&rsquo; searches on realcommercial.com.au are up 34% compared to the same time last year.

There is another Crown Street listing, occupied by City Gym at 107-113 Crown Street, which was listed for sale in March.

It has a land area of 768 sqm with a FSR 2.5 : 1 and height limit of 18 metres.

It is listed through Gunning RE and Colliers.

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