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?

<html><body>
For the past five weeks, auction clearance rates in Sydney have exceeded 80%, a further sign that strong growth in the city’s housing prices is set to continue into 2014.
Although some surveys indicated prices in Melbourne were flat last month, elevated clearance rates in the city led analysts to describe the market as solid.
Despite a general consensus among economists that the Reserve Bank board will keep official rates on hold  tomorrow, the outlook for property prices in both cities remains bullish as home buyers are likely to benefit from improved borrowing conditions as financial institutions compete to attract lenders.
In 2013, the median house price in <a target="_blank" href="https://www.smartcompany.com.au/finance/investment/35385-brisbane-to-boom-house-price-growth-to-slow-property-trends-for-2014">Sydney rose by 15.1%</a> to $793,000 and in Melbourne the median <a target="_blank" href="https://www.smartcompany.com.au/finance/investment/35385-brisbane-to-boom-house-price-growth-to-slow-property-trends-for-2014">price jumped 8.6%</a> to $569,000, according to Australian Property Monitors.
<h3>Sydney still booming</h3>
In Sydney 82.7% of properties that went to auction were sold, the fifth week in a row that the figure has exceeded 80%. Over the month of February, 1490 homes were sold at auction, the best monthly results for February on record.
The average price for houses sold by auction in Sydney was $1.08 million, up from $989,000 for the same weekend last year. For Sydney units, the average median price was $681,005, up from $637,500 last year.
Auction listings also remained strong, with this weekend’s offering of 671 properties well ahead of last year’s 455 over the same weekend.
Australian Property Monitors senior economist Andrew Wilson noted in a report that “February’s record breaking Sydney weekend auction market has unsurprisingly continued into March with no sign of a let up in buyer or seller enthusiasm.”
<h3>Melbourne solid despite February flat spot</h3>
Despite monthly data from the <a target="_blank" href="https://www.rpdata.com/research/monthly_indices">RP Data-Rismark Home Value Index</a> showing that prices actually fell by 0.19% in Melbourne in February when compared to the previous month, clearance data for the month points to a strengthening in the home auction market.
Wilson told SmartCompany Melbourne’s property market was “solid rather than strong.”
“Buyer and seller confidence in Melbourne’s auction market remains solid with no sign of a waning in activity despite ongoing concerns over the performance of the local economy”.
In Melbourne, the average median house price was $810,000, up from $730,00 for the same weekend in 2013, while the average price for units sold at auctions was $550,000, up from $495,500 last year.
The clearance rate for auctions in the metropolitan region on Saturday was 76.1%, well ahead of the 65.8% clearance rate registered over the same weekend in 2013 and also about the weekend average of 75.2% for the month.
As in previous years, the number of properties going to auction was bolstered by an expected pause in the market next week due to the Labour Day holiday. A total of 1,102 properties were listed to be sold at auction last weekend, about the same as the 1,139 that went under the hammer the previous week and well ahead of the 882 auctions that took place during the same weekend last year.
The most expensive auction in Sydney over the weekend was a five-bedroom house in  Coogee which sold for more than $4.3 million. At the other end of the property market, a two-bedroom unit in Bankstown went for $377,500.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>. 
                                   </body></html>

po-LsXgBTHBmX

Sydney auction clearance rates continue to soar while Melbourne flattens

<html><body>
New Queensland legislation has caused a rift between the Real Estate Institute of New South Wales and the Real Estate Institute of Queensland to appear as they argue through the potential banning of auction price guides.
Much discussed in the media over the past few weeks, the banning of price guides under the new legislation has seen<a href="https://www.propertyobserver.com.au/queensland/queensland-auction-price-guide-ban-defies-common-sense-john-mcgrath/2014022367953" target="_blank"> John McGrath referring to it as “dark days”, taking out full page advertisements in Queensland newspapers</a> to argue against the change.
The changes, which are said to stop price guides from being provided or discussed with potential buyers, to stop buyers from being able to search auctioned properties online by price and for property reporters not to be able to mention price guides or estimations in their editorial, were slammed by McGrath. It has even had <a href="/news">some news outlets calling it a breach of freedom of speech</a>.
The legislation for the Property Occupations Bill and the Agents Financial Administration Bill 2013 is currently before Parliament.
On Friday, the Real Estate Institute of New South Wales (REINSW) released a statement calling for Queenslanders and those looking to invest in the state to immediately voice their concerns over the proposed legislation. REINSW president Malcolm Gunning said that this potential ban on auction price guides would cause havoc. “It is a step backward for consumers. Now more than ever buyers are demanding transparency in regard to property. To take away price guidelines will turn back the clock on Queensland real estate,” Gunning said.
They also included comments from McGrath Estate Agents chief executive John McGrath, who is an REINSW member, as he called the potential changes “insanity”. “There is no logical reason why this should happen. The new legislation would effectively act to ban the agent, buyer and seller from holding a conversation in regard to price,” McGrath said. “It will not solve the issue of underquoting and will prevent buyers from other states and internationally from looking at the Queensland market.”
He said that web searches would become useless, with thousands of auction listings appearing in “random order”. They called for consumers to write to <a href="mailto:attorney@ministerial.qld.gov.au" target="_blank">Attorney-General of Queensland, Jarrod Bleijie</a>.
Despite the REINSW’ view, the Real Estate Institute of Queensland (REIQ) were providing a quite opposite message.
Discussing ‘factually incorrect statements recently made in the media’ about the proposed changes, they agreed that under the new bill the use of price guides and disclosure of reserve prices in Queensland auctions would be prohibited.
However, CEO of REIQ, Anton Kardash, said that the absence of these price guides is standard in Queensland, despite the uproar.
“Currently in Queensland, it is common practice for real estate agents to market an auction property with no price guide or likely sale price indication. In fact, the proposed new laws simply seek to clarify existing laws which many in the real estate industry consider to be consistent with the proposed provisions,” said Kardash.
“Indeed, auctions are not unique to real estate. Art, horses and motor vehicles, to name but a few, are regularly auctioned without a fixed price or a price guide because that is the very nature of auctions. The market will decide on the day of auction what it is prepared to pay for that particular asset.”
He also hit back against comments that new laws would stop allowing an agent representing a property to make a comment on the price. He said that under the proposed laws, they would be permitted to provide a comparative market analysis or a written explanation of the property’s estimated price.
However, this must have been prepared by the agent or auctioneer, given to the seller, consented to by the seller, and then passed on to the public.
He also said that if sellers want to market their property with a price or price guide, then they should use a private treaty method instead.
“It should also be highlighted that if a seller wishes to market a property with a price or using a price guide, they may do so by instructing their agent to sell via the much more popular private treaty method,” he said.
He also noted that auctions are a small segment of the Queensland sales market, and that where auction price guides are permitted, such as in New South Wales, there are said to be problems with underquoting or price baiting.
“We all know that by advertising a price guide or giving an indication of the reserve price, an expectation may be set at a level that is too high or too low and this may impact on the outcome of the auction,” he said.
“It is with great pride that Queensland can say that it has largely avoided claims of misleading and deceptive conduct in relation to property price guides. Unlike in some other states where such complaints are rife, Queensland has not been subject to constant complaints of such a nature and will continue to prevent any future issues with the passing of this legislation.”
The Real Estate Buyers Agents Association of Australia (REBAA) has recently spoken out against the proposed ban on price guides, saying it will expose buyers to the risk of overpaying.
Queensland spokersperson for REBAA, Scott McGeever, said that buyers would be forced to spend a considerable sum to undertake due diligence on every property they had some interest in.
“A ban on giving a price range for properties going to auction will seriously disadvantage buyers,” said McGeever.
“More than ever before, buyers will need to do their research thoroughly and ensure they get their building and pest inspections done, engage solicitors to look over contracts and get bank valuations,” he said.
He pointed to an alternative being to get agents to provide recent sales, but said it is “fraught with danger” due to sales not always being directly comparable and their ability to be manipulated.
“In what is the biggest transaction most people ever make, the buyer is totally unrepresented and will now be relying totally on the selling agent to make their offer price,” he said.
“To remove the only guides available to them seems nonsensical.”
A <a href="https://www.propertyobserver.com.au/news/should-reserve-prices-be-published-for-auctions/2014022768076" target="_blank">recent poll of Property Observer readers</a> (results below) saw the vast majority, 84.5%, looking to have reserve prices published across the country. 
<img alt="poll-results-march-3" src="/images/stories/2014/03/03/poll-results-march-3.png" height="111" width="470"> 
It is Property Observer's view that the more information provided to those looking to buy and sell in the real estate industry the better.
There is currently <a target="_blank" href="https://www.change.org/en-AU/petitions/jarrod-bleije-mp-amend-proposed-legislation-aimed-at-banning-price-guides-on-properties-going-to-auction-in-qld?recruiter=83952376&amp;utm_campaign=signature_receipt&amp;utm_medium=email&amp;utm_source=share_petition">an online petition to amend the proposed legislation that has reached 1,000 signatures</a>, with signatories claiming it will cause a further loss of transparency and that it is an illogical move.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
                  
</body></html>

jduke-EHk3XBmHkn

Real Estate Institutes go head-to-head over Queensland auction price guide debate

<html><body>
Australian Property Monitors (APM) has released a list of results from 434 auctions in Sydney for the weekend of March 1. The clearance rate was 82.7%. <a target="_blank" rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.
 
</body></html>

APM's Sydney 434 auction results show a 82.7% clearance rate

<html><body>
The Waterfront, Shell Cove, a masterplanned community in Illawarra, has awarded a tender for Stage Two of a $150 million boat harbour situated within the development. Won by Coastwide Civil and valued at $65 million, it is the second of three contracts for this part of the development.
Australand, the developer, and Shellharbour City Council, announced the winner of the tender together. Coastwide Civil also won the first contract for this stage of <a target="_blank" href="/news">Shell Cove</a>'s development.
They are calling <a target="_blank" href="https://www.shellcove.com.au/the-waterfront/">The Waterfront and Shell Cove</a> generally to be the future lifestyle, boating and tourist destination on the south coast of New South Wales. At completion, it will include a 300 berth boat harbour and a town centre with cafes, shops and restaurants.
Mayor Marianne Saliba said that this marks a move into the second stage without any recorded delays. The idea for a boat harbour in this area was first mentioned in the 1980s, according to <a target="_blank" href="https://www.illawarramercury.com.au/story/1981772/shell-cove-project-takes-shape-at-last/">The Illawarra Mercury</a>.
"The creation of the boat harbour and its surrounds is an exciting prospect for our community that will come to fruition during this next construction phase," Saliba said.
"The second stage involves the largest program of construction activities including almost 80 percent of the works to be undertaken on the harbour that will bring this long held dream of Council's closer to a reality," she said.
Australand Shell Cove development director, Glenn Colquhoun, said that stage one is nearing completion.
Stage two involves excavating almost 950,000 cubic metres of soil and rock to create the eastern harbour basin. It also includes constructing the boat harbour edge and constructing a boat ramp for the outer harbour. This is the largest of the three stages and will take three years to complete.
The final stage will be to connect the basin to the ocean.
“The Waterfront, Shell Cove will be one of the most significant pieces of infrastructure delivered in coastal NSW for many years and we are so pleased to appoint such a strong contractor as Coastwide Civil,” said Colquhoun.
More than $50 million to the entire residential development has been committed to the project to date, including the retention and maintenance of 11.5 hectare Myimbarr Westlands.
“The Waterfront, Shell Cove will be an integral part of the overall residential masterplanned community, offering an unbeatable home and lifestyle on the south coast,” he said.
It includes more than 60 hectares of public open space, an on-site primary school and a community centre.
<a target="_blank" href="https://www.propertyobserver.com.au/news/demand-remains-strong-for-australand-s-shell-cove-masterplanned-community/2013100865580">Launch day late last year saw all the 11 sites brought to market snapped up</a>, with the second release brought forward to cater for this demand. Prices for both have been <a target="_blank" href="https://www.propertyobserver.com.au/news/shell-cove-to-release-12-more-lots-this-weekend-following-strong-buyer-demand/2013102265883">somewhere from $310,000 to $400,000</a>.
jduke@propertyobserver.com.au
             
</body></html>

Residential masterplanned community’s $150 million boat harbour tender awarded

<html><body>
Investors are being offered a rare opportunity to buy a residential development site, with development approval for an 18-level mixed use building in Sydney's exclusive suburb of North Sydney. 
Located at 225-235 Pacific Highway and 22 Angelo Street, the 1,538 square metre site is approved for 190 apartments with 11,937 square metres of residential space plus ground commercial/retail space of 867 square metres. 
<img alt="north-sydney-feb-26-one" height="288" width="470" src="/images/stories/2014/02/26/north-sydney-feb-26-one.jpg">
Knight Frank’s Andrew Drury, Peter Krieg, Brett Burridge and Dominic Ong have been appointed to sell the mixed use development site on behalf of industrial property investment group, Ford Land Company.
Mr Drury said that with limited development sites remaining in such prestige localities, <a target="_blank" href="https://225pacific.com.au/?">225-235 Pacific Highway</a> offers a rare opportunity to acquire such a property with valuable development consent.
The agents said that potential buyer could immediately start per-sales from settlement of the purchase.  
The approval consists of six, three bedroom penthouse apartments, 72 two bedroom apartments, 97 one bedroom apartments, 15 studio apartments, roof top communal entertaining areas, six levels of secure basement parking for 150 cars plus extensive storage areas. The approval also includes lower ground floor areas incorporating a tapas bar, restaurant and café and a top floor concierge apartment.
The DA approved site will be ready for construction to commence in July 2014. The public tender closes on 18 March.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
        
</body></html>

kjiminez-eaYKfU7qd2

Rare residential development site opportunity in North Sydney

<html><body>
Melbourne-based unlisted property fund manager, Quintessential Equity, has leased a further 13% of its office building in Sydney's Lane Cove West, taking it to near fully occupancy. 
Quintessential Equity purchased the 166 Epping Road property last April when it was just 80% occupied. 
Following the recent leasing to a joint venture between Downer EDI Works Pty Ltd, a subsidiary of ASX-listed Downer EDI Limited, and Mouchel International (Jersey) Limited, a major international infrastructure and business services group - just two% or 161 square metres of the building is now vacant. 
Quintessential Equity director, Shane Quinn, said the additional lease agreement was a
positive result for investors in the Trust and demonstrated the success achieved through
proactive management by the company.
"Since we settled 166 Epping Road, we have made steps towards significant enhancements to the property, aiming to attract new tenants".
“We have enhanced the presentation of the space and worked with leasing agent specialists in the Lane Cove area to encourage new tenants to preview the refurbished office building".
The five level commercial building has three levels of office accommodation with a total net lettable area of about 7,129 square metres as well as two levels of basement car parking with 235 individual car spaces.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
                     
</body></html>

Quintessential Equity sign additional lease to expand Lane Cove West office

<html><body>
Several offshore parties are believed to be circling one of Australia's most prestigious hotels - the iconic Sofitel Wentworth - barely a week into the marketing of the five star hotel.  
Property Observer understand that a number of parties from China, Europe, the US and Singapore are already believed to be having a hard look at the hotel -  which has become famous for hosting Liberal Party gatherings on election night.
It is understood that the final buyer is likely to come from offshore and that the selling price will be about $200 million. 
LaSalle Investment Management acquired the hotel for $130 million in 2010, on behalf of the LaSalle Asia Opportunity Fund III.
Expressions of interest for the 436-room hotel close on 21 March through Jones Lang LaSalle's Hotels &amp; Hospitality Group and McVay Real Estate.
<a href="mailto:news@propertyosberver.com.au" target="_blank">news@propertyosberver.com.au</a>
<a href="mailto:news@propertyosberver.com.au" target="_blank"></a>            
</body></html>

Numerous offshore parties circling the iconic five star Sofitel Wentworth hotel

<html><body>
New statistics are showing an increasing trend towards urban apartment living in both Melbourne and Sydney, according to the Urban Taskforce. The Sydney Metropolian Program saw three quarters of the housing approvals being for apartments, however Urban Taskforce's CEO, Chris Johnson, warns that this number could slow as delays on Urban Activation Precincts hinder supply. “The December housing approval figures show that 76% were for multi-unit apartment projects which continues the trend at this level,” said Johnson. “For the last three months of 2013 apartments were 73.2% of all housing approvals and 71.1% of all housing completions.” He noted that Sydney is swinging towards more urban apartments in inner city areas with investors and owner occupiers showing interest. “There is also a clear swing towards more urban living with its greater variety of amenities by a number of demographic groups. It is important that the planning system supports zoning for apartments where people want to live," he said. The greatest number of apartment approvals by LGA in December for apartment approvals: <a href="/news">Parramatta</a> (463) <a href="/news">Waverly</a> (367) <a href="/news">Canterbury</a> (316) The highest number of apartment completions over this period: <a href="/news">Botany Bay </a>(368) <a href="/news">Willoughby</a> (295) Meanwhile, in Melbourne, five high rise projects totalling 2,000 apartments were approved in just one day. “The Victorian Planning Minister in approving a 63 storey apartment tower as well as two 55 storey towers is supporting the growing interest in apartment living in urban areas of Australia,” he said. “The demonstration of leadership by the state government in fast tracking these approvals is a lesson for other states where approvals are often delegated to other bodies.” He said that while many corridors in Melbourne can retain their suburban character, there are nodes where mid- and highrise is appropriate. “The swing towards apartment living in Australian cities seems to be part of a cultural shift to favour location over dwelling size. Coming with the new form of urban living is a more co-operative approach to sharing amenities like swimming pools, parks and gymnasiums," he said. A growing interest in rental properties may be behind much of this shift in Melbourne. <a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
              
</body></html>

Shift towards apartments in Sydney and Melbourne needs government to keep up: Urban Taskforce

<html><body>
A new 20-storey apartment complex, with 129 homes, will be launched in Bondi Junction in May, comprising of two towers.
The complex, named <a target="_blank" href="https://www.aquabondijunction.com.au">AQUA</a>, is being developed by Leighton Properties, along with joint venture partner, Melbourne-based Qualitas, and will be located on the corner of Oxford Street and Hollywood Avenue. This is the third joint venture arrangement between the two companies.
Built on 1,309 square metres, adjacent to a Westfield Shopping Centre, and near Bondi Junction train and bus interchange, the street level of the development will include retail and landscaped outdoor spaces.
<img width="470" height="524" src="/images/stories/2014/02/24/bondi-feb-24-one.jpg" alt="bondi-feb-24-one">
Not to be confused with <a target="_blank" href="https://aquapetsaquariums.com.au/">AquaPets Aquariam</a> at Bondi Junction, AQUA, at 241 - 245 Oxford Street, is also aiming for a four star Green Star design.
Most of the apartments will have Sydney Harbour, Opera House or ocean views, and they are all of north and easterly aspects. They vary from studios to three-bedroom apartments, and the complex will also feature rooftop gardens.
The interior design will be from Koichi Takada, renowned designer who has been involved in <a target="_blank" href="https://www.propertyobserver.com.au/https://showcase.propertyobserver.com.au/2/3">North Sydney’s Skye</a>, <a target="_blank" href="https://www.propertyobserver.com.au/developments/work-begins-on-australia-s-largest-cantilever-on-frasers-one-central-park-tower/2012102357266">One Central Park</a> in Broadway and <a target="_blank" href="/news">Pacific in Bondi Beach</a>.
The current median price for a unit in <a target="_blank" href="/news">Bondi</a> is $735,000, with a 14.2% increase over the past year. Achievable median weekly asking rent is sitting at $650 per week.
Kann Finch Architects, in collaboration with DC8 Studio, will be undertaking the design.
A glass lobby will link the two towers. They are placed on a podium, which is said to maximise the view corridors.
The north tower features “shell white” horizontal bands, while the south tower features contrasting “wayward grey” bands.
Gavin Tonnet, Leighton Properties national head of residential said that they have appointed Colliers International as sales agents, and anticipate marketing to begin in May when the display centre is ready on site.
“[Bondi] is already a great place to live, and our apartments will add quality and style unmatched for this area, and continue the transformation of Bondi Junction’s urban centre,” Tonnet said.
Qualitas’ director, Mark Fischer, said that it’s a convenient location for transport, shopping, restaurants and entertainment.
“We have no doubt AQUA will be Bondi Junction’s most prestigious residential building,” said Fischer.
The enquiry page sees interested buyers able to select options on a studio from "under $500,000" to "$600,000+", one-bedroom from "under $600,000" to "$800,000+", two-bedrooms from "under $900,000" to "$1.2 million+" and three-bedroom properties from "under $900,000" to "$2 million+".
jduke@propertyobserver.com.au
   
 
</body></html>

Two 20-storey apartment towers, Aqua, to be launched in Bondi Junction

<html><body>
Recently announced delays to strata reform have seen mixed responses, with some satisfied the time is being taken to ensure the previous drafts are carefully considered, and others concerned as to what delays mean to what was initially proposed.
Noting <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/strata-reform-see-developers-fear-more-onerous-requirements-but-concerns-may-be-misplaced/2014022067943">his fears for more “onerous requirements” on developers under changes to the current draft</a>, Urban Taskforce CEO Chris Johnson last week expressed his disappointment with the delays.
These delays are <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/changes-to-nsw-strata-laws-delayed-after-stakeholders-demand-more-time/2014021867843">said to be due to an "unrealistic timeframe" that may place the changes to the legislation in jeopardy</a>.
Brookfield Multiplex, a member of Urban Taskforce, while noting that they have not been officially informed of any delays to the reform package that involves amendments to the Home Building and Strata Management Acts, provided Property Observer with a written statement about the delays.
“Further, Brookfield Multiplex can not understand why there would be delays to introducing the legislation as draft bills were circulated in December and by and large there is consensus amongst the stakeholders on the key reform elements. Our expectation is that the legislation will be introduced into Parliament this session,” regional managing director of Brookfield Multiplex Australasia, David Ghannoum, said.”
“The current Acts are not working as the legislation intended. This is to the detriment of homeowners, consumers and the building industry. Accordingly Brookfield Multiplex remains a strong supporter of the reform package,” said Ghannoum.
Applauding the work of previous minister, Anthony Roberts, in developing the “much overdue reform package and for building a consensus around those reforms”, they encouraged the new minister to keep momentum up for the changes.
Urban Development Institute of Australia’s chief executive Stephen Albin, however, recently told Property Observer that he isn't expecting any major changes for developers due to the delay.
Back in November 2013, when the position paper was released, the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nsw-strata-law-reforms-get-thumbs-up/2013111466361">draft for changes to the reforms received a fairly broad thumbs up from a number of groups in the industry</a>.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
</body></html>

Latest New South Wales Property News

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest New South Wales Property News

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News