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?

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Australian Property Monitors (APM) has released a list of results from 537 auctions in Sydney for the weekend of February 22. The clearance rate was 86.0%. <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.
    
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APM's Sydney 537 auction results show a 86% clearance rate

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The delay to the reforms of the New South Wales Strata Act is being called a disappointment that may see the introduction of “onerous requirements” for developers, according to Urban Taskforce CEO, Chris Johnson.
The six month delay of the reforms comes as stakeholders are asking for more time, with <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/changes-to-nsw-strata-laws-delayed-after-stakeholders-demand-more-time/2014021867843">October suggested as the potential date to expect the changes to be pushed to</a>.
Johnson said that a number of members were looking to re-enter developing in the apartment market on the basis of the proposed reforms, but that they are now reconsidering in light of the delays.
“The development industry has gone along with the reforms as a package but the delay announced by NSW Fair Trading could untangle agreements to-date,” he said.
“It is vital to diffuse the litigious environment around defects resolution and we supported the use of independent assessors and the use of a retention fund of 2% to cover defects but the delays could see other more onerous requirements added to industry costs.”
Johnson told Property Observer that they’ve reached a reasonable package between the various parties, and they’re concerned as to what any changes now may mean.
“The groups that seem happy about [the reforms] taking more time are generally the owners corporation network and consumer groups,” he said, noting that they’d worked with these groups in the past to come up with the current arrangement.
His fear is that the reforms will become skewed against the development industry.
“The reality is that the New South Wales government has been slow in bringing in reforms to do with planning and now the strata act. We’re only a year out from an election and any good bold reformist decisions need to be made well away from that time,” he said.
However, the Urban Development Institute of Australia’s chief executive Stephen Albin disagreed with claims that it will make developers reconsider.
“I don’t think that people will put off plans based on a change in three months, we have been talking about these reforms for the last six or seven years, it isn’t a deal breaker for investors,” Albin told Property Observer.
“The delays aren’t ideal, it would have been great had the whole legislative package been together, but I think one of the important points is that there’s transparency and certainty. The whole package needs to go to parliament as one. It’s a smarter move than putting two bits of legislation up at different times,” he said.
“These laws, which are all about creating better infrastructure, better communities, may be subject to politics and that’s not a good thing, but I think they’ve done the right thing to put the package together as one.”
The UDIA, who have been involved with assisting the legislation for five years, said that there has been a general consensus towards these changes.
Any further requirements for the developers may be changes in the margin, but he said that there are unlikely to be substantial differences as a result of the delay.
“We’ve learned lessons from the planning system and the way planning reforms have been a subject of political misinformation, this time we go in with our eyes wide open,” he said.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

Strata reform see developers fear more “onerous requirements”, but concerns may be misplaced

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Fires in properties are a source of fear for many, and it is a terrifying situation for any property investor or tenant to be in.
There have been a number of saddening stories in the past about the deaths of tenants due to smoke alarm failures, with <a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-coroner-fired-up-about-smoke-alarms-in-investment-properties/2012050754591">a coroner in 2012 issuing a warning about smoke alarms</a> after a Hamilton, New South Wales tenant died in a 2010 house fire. According to Fire &amp; Rescue New South Wales, 144 deaths occured due to house fires between 2000 and June 2005. However, it doesn't appear that all investors have looked into upgrading their systems.
Tenants are responsible under legislation for replacing the batteries in fire alarms, while investors are responsible for providing a working alarm.
However, there are steps that can be taken to help reduce the risks and the potential for disaster or death that look beyond the minimum standards.
Property Observer headed out to <a target="_blank" href="/news">Penrith</a> in Sydney’s west to see a block that, over the weekend, had the complex's garage set on fire by local vandals. 
{yoogallery src=[images/stories/2014/02/19/pen]}
Source: Just Think Real Estate, Edwin Almeida
The Penrith area has seen some strong growth recently, 9.2% on units according to RP Data, bringing the median price to $283,500. The property in the photographs above is not unusual for the Penrith area.
A property manager from Just Think Real Estate, who manages one of the properties in the complex photographed above, explained earlier in the day that as soon as the fire was out and they had spoken with the tenant, they sent a cleaner in to help fix the property to make it habitable for the tenant. 
The way the garages are placed, and due to their internal access, saw black smoke pour through the garage door and into the apartment.
The strata managers, however, later said that the property manager should have waited until Monday to send in the cleaners, due to an issue of insurance. In fact, all of the other apartments were left until the Monday. The burnt areas are still black with smoke and soot, and there’s security tape up to keep people away from the burnt rubbish and mess. The ceiling and outside walls are blackened.
Even with the cleaners having been through, the smell of burnt rubbish, surprisingly close to the smell of cigarettes, inside the rental is still there to the point where it gets into the back of your throat. The tenant, relieved that the property had been cleaned, said there had luckily been little damage to her own belongings– just some dirt and ash on her car.
The ceiling in the laundry room had black marks and damage left behind, even after the initial clean.
{qtube vid:=9djPS1fMgTA&amp;feature=youtu.be}
The above video was created in conjunction with Oz Real Estate TV
However, the most terrifying situation for this rental – and, as a neighbor informed us, for two other apartments – was that the battery-operated fire alarm never went off, despite the entire property filling with smoke. We emphasize that the owner of this apartment had not provided a hard-wired battery, and they are not required to by law as the building is older than when the 2006 law was introduced. Up until this time, they believed the alarm to be working. Under current legislation, now it has been proven to be faulty, they will be required to install a new alarm up to the current standard.
The layout of the rental is such that if the fire had come through the garage, and the tenant had been in her bedroom, there may have been no easy way out of the property.
Which leaves us with a conundrum about the fire alarms, where the law asks you to do one thing, but perhaps common sense dictates another. Investors cannot necessarily stop vandals from setting fires, and cannot pre-empt situations outside of their control regarding candles left in rentals or similar, however they can equip their properties with the best fire alarm to ensure the safety and protection of their property and their tenant.
Just Think Real Estate’s Edwin Almeida said that a hardwired battery is the best option here. He estimates $300 for the installation.
He explains that while in new build properties these are a mandatory requirement, as of 2006 in New South Wales, the laws are not “back dated” to include existing properties and so investors need to be proactive and take the initiative to install them themselves.
In Queensland, for instance, the law explains that homes built before 1 July 1997 must have at least one 9-volt battery-operated alarm, however those after this time or that have been significantly renovated require a 240-volt hard-wired smoke alarm.
In Western Australia, from 1 October 2009, mains alarms need to be installed for properties available to rent, sell or hire.
Regardless of the minimum standards of the law, every investor should look to protect their property and their tenant as best possible.
jduke@propertyobserver.com.au
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Vandals set the garage on fire, and three fire alarms failed to work: Is your tenant living in squalor?

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Lynch Group Australia has sub-leased a warehouse facility in Sydney's Mascot.
The company has secured 1,404 square metres of sub-leased space, at Unit 9/476 Gardeners Road. 
The length of the lease is for nine months, at a gross face rent of $155 per square metre.
The previous tenant in the property was Smartbox Storage Pty Ltd. 
Agent Trent Gallagher of Colliers International handled the lease. 
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
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kjiminez-eaYKfU7qd2

Lynch Group Australia sub-lease Mascot, Sydney warehouse

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Non-profit group People with Disability Australia (PWD) has relocated to new offices in Sydney's city fringe suburb of Redfern.
The firm secured 433 square metres of space on Level 10, 1 Lawson Square Street, Redfern.

The leasing deal was negotiated by Ray White Commercial Office Leasing Director John Skufris.

The lease was struck at a gross rental of $166,705 per annum over three years.

Nearby at 161 Redfern Street, the Aboriginal Disability Network leased 129 square metres, at a gross rental of $450 per square metres a year. Mr Skufris also negotiated the lease.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
 
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People with Disability Australia relocating office to Redfern

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An offshore investor has acquired an industrial property in Sydney's Regents Park for $12.425 million. 
The 7,827 square metre building is located at 2-6 George Young Street and was owned by vendor Abacus. 
The sale price reflected an initial yield of 7.6% and equated to about $1,587 per square metre.  
Colliers International's John McCann and Tony Durante negotiated the off-market transaction.  
The agents said that the property was listed to go to an on market campaign with advertising booked but was sold prior.
The property is leased to Colorpak Limited until May 2021.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Regents Park industrial property sells off-market for nearly $12.5 million

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Fast changing and high yielding Ultimo is a source of fascination for many Sydney residents. It’s an area that is largely known for its education hubs, but is quickly becoming known for new developments and a growing affluent crowd.
In fact, much of these changes seem to hang on the <a target="_blank" href="https://www.propertyobserver.com.au/commercial/big-corporates-circling-office-space-at-%242-billion-central-park-development/2013092565276">new $2 billion Central Park development</a> that has sprung up so quickly, and is designed so carefully, that it appears to have grown out of the ground itself. It saw commercial interests swooping in earlier in the development, and is now steadily part of the changing face of the area.
Conveniently placed in the heart of the action, near Central Station on one side, close to the University of Technology, the University of Sydney, TAFE and a number of other financial institutions, and a short walk from Chinatown, Paddys Markets Broadway Shopping Centre and the cultural delights of Glebe, it’s hard to think of something that the <a target="_blank" href="/news">Ultimo</a> area doesn’t have.
RP Data notes the current unit price for the area at $252,500, while the median asking rent sits at $550 a week. That’s a ridiculously impressive rental yield of 11.3%.
Just several years ago, there was an abundance of lower-status pubs along the road, largely frequented by university students, and it’s clear that the caliber is slowly changing – helped by the new shopping precinct on the ground floor of Central Park. There are also a number of boutique-style shops and cafes that cannot be called anything other than ‘hipster’. The mood of change is also evident with the number of cranes dotting the skyline, as well as the number of signs of development and property sales, such as show rooms.
The University of Technology campus is changing, with current construction walls covering some of the buildings <a target="_blank" href="https://www.uts.edu.au/partners-and-community/initiatives/city-campus-master-plan/our-vision">in a $1 billion redevelopment</a>. This should do good things for the streetscape.
The growing suburb, as of 2011 census, had 67.6% of dwellings rented, with a scary 40.7% of tenants paying more than 30% of their income on rent, meanwhile 93.2% of mortgage holders are paying less than 30% of their income as their mortgage repayment.
An <a target="_blank" href="https://www.shfa.nsw.gov.au/content/library/documents/FB43C542-0F79-96FE-68538841A8F3E24A.pdf">analysis from the Sydney Harbour Foreshore Authority comparing 1994 to 2004 showed that it had been a strong 10 years of change</a>.
From 5,000 jobs in 1994 across Pyrmont and Ultimo, this skyrocketed to 22,000 in 2004. Affordable housing was introduced, more buildings were given a heritage overlay, an emphasis on green space was introduced and pedestrian links were also brought in. The median unit and house prices more than doubled over this period.
“In 1994 Ultimo and Pyrmont resembled a building site. Fewer than 5,000 people lived on the 1.6km peninsula adjoining the Sydney CBD. Disused industrial structures were being cleared and everywhere bulldozers turned over soil, hardhats were worn and the foundations laid for the rebirth of a neighbourhood,” it explains.
“In 2004 Ultimo and Pyrmont is a place renewed. A peninsular of old industrial buildings and smokestacks has more than eight hectares of new parks. More than 13,000 residents now live in the two postcodes – addresses characterised by high quality medium-density housing designed for a mixed and harmonious community.”
Since 2004, the area has clearly changed dramatically yet again, and it has become ripe for developments. In fact, <a target="_blank" href="https://www.citywesthousing.com.au/development">City West Housing has 200 units planned for delivery either this year or in 2015</a>.
And now, in 2014, we’re seeing the next stage of gentrification for the area. However, whether this will translate into another doubling of prices is yet to be seen.
jduke@propertyobserver.com.au
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Suburb spotlight: High yielding Ultimo may be set for another decade of change

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Radical changes proposed to strata schemes in NSW have been delayed by at least six months after stakeholders demanded the state government take more time to get new legislation right.
NSW Fair Trading released a <a href="https://www.fairtrading.nsw.gov.au/biz_res/ftweb/pdfs/About_us/Have_your_say/Strata_title_law_reform_position_paper.pdf" target="_blank">position paper</a> on strata title law reform<a href="https://www.propertyobserver.com.au/trends/strata-law-changes-will-have-a-big-impact-on-the-residential-market-in-2014/2013121666961" target="_blank"> in November 2013</a>. A final bill was expected to be introduced to Parliament in early 2014 but that has been extended until August following a recent meeting between NSW Minister for Fair Trading Stuart Ayres and key stakeholders.
“There was concern among the stakeholders that the most significant social reforms in strata since 1961 could be placed in jeopardy by legislation that was prepared as part of an unrealistic timeframe,” Owners Corporation Network chair Stephen Goddard told Property Observer.
More than 70 reforms have been put forward. Goddard said four separate pieces of legislation would need to be amended to enact the planned reforms and each fell into a different area of state government.
“The policy changes that are coming into play are therefore in need of a whole of government solution, not just one ministry,” he said.
One of the reforms’ aims is to ensure defects in new strata buildings are identified and fixed sooner.
Goddard said around 85% of new strata residential buildings have defects, with owners’ corporations often having to fight for problems to be rectified.
The proposed reforms will also provide a way to terminate strata plans to make it easier to redevelop existing strata buildings.
They aim to facilitate decision making and dispute resolution in strata communities; protect individuals from unfair practices; and improve transparency and accountability in strata management, the use of proxies and disclosing potential conflicts of interest. The proposed changes are also intended to reduce red tape.
“This legislation will be ground-breaking. It will roll out into all the other jurisdictions I’m confident about that because the issues recur in Victoria, Queensland and Western Australia,” Goddard said.
Former NSW Fair Trading minister Anthony Roberts started an extensive consultation process on the reforms in September 2012, leading up to the release of the position paper in November 2013. The consultation received submissions from more than 70 organisations including the Housing Industry Association, the Master Builders Association, the Property Council of Australia, the Real Estate Institute of NSW, Owners Corporation Network and local councils, as well as from hundreds of individuals.
Ayres took over from Roberts as NSW Fair Trading Minister on December 9, 2013 and has continued with the reforms. A spokeswoman for the Minister confirmed the timetable had been delayed until August.
“It’s really significant legislative reform and we did not want to rush it,” the spokeswoman said.
Industry sources suggested legislative changes could be pushed out again to October.
There are more than 72,000 strata schemes in NSW with $350 billion in assets.
One in four Australians now live in strata accommodation and according to government 20 years, half of the NSW population is expected to be living or working in a strata or community scheme.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a> 
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Changes to NSW strata laws delayed after stakeholders demand more time

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The Reserve Bank of Australia has listed a near harbourside, residential mansion in Sydney's Kirribilli.
The six bedroom Federation, Eversley mansion on 920 square metres at <a target="_blank" href="https://raywhitelowernorthshore.com.au/nsw/kirribilli/1094445/">10 Carabella Street </a>has been listed through Ray White agent Kingsley Yates for March 22 auction.
It's been across international wire services since Bloomberg News wrote the story, with property blogging conspiracists going into overdrive ever since.
No price guide has been given on the heritage listed home, <a target="_blank" href="/news">but I'd expect it could almost double the Kirribilli median house price of $2.25</a> million as the street's longtime substantial five bedroom offering, entreprenuer Simon Clausen's Burnleigh, the 1875 landmark home on 810 square metres, remains <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-kirribilli-nsw-2061/193990">listed with $4.4 million pricing hopes</a>.
The timing might possibly be prescient with home prices currently at record levels, but I am aware that in recent years the property has been beset with pesky landlord issues taking up much of the central bank's time.
Issues including leaking taps, pathway descaling, problematic cistern, dangerous tree limb decay, low pressure hot and cold shower water, hazmat requirements, leaking roof tiles, balustrade compliance, damp kitchen ceiling, decaying front garden fencing, the back fence replacement, bathroom grouting issues, possums in the fiddlewood tree, beeping fire alarm on the first floor, and the failing light above the sandstone stairs that meant the steps were dangerous. At one point rental abatement was given.
{qtube vid:=NSNwiUdyvFg}
Some of the landlord-tenant issues apparently even needing the governor Glenn Stevens' attention over the past few years or so. They quite simply have better things to do with their time and money.  
There was already a $180,000 refurbishment in 2011 and some $140,000 estimated to repair the bathrooms more recently.
The now renovated and refurbished house, split into two apartments, is one of an estimated 70 freestanding homes in the suburb. It is a two storey brick house with multi-gabled slate roof, plus timber shingles to gable ends and verandahs. There is stone voussoirs to large semi-circular leadlighted window and leadlight at entry porch. The upstairs has around 199 square metres of space - at a $1,125 weekly rental. There was 218 square metres of space downstairs - with the rental details not known by me as it was on an expired lease arrangement.
Let's say the rental yield - from my back of an envelope calculations - was 2.9% - hardly the right signal of the bank who wantas to convey fiscal wisdom.  
But it was a great asset as it was bought in April 1986 under Bob Johnston's governorship just before the Sydney market took off in its record boom for $630,000. I recall it was snapped up within two weeks of its 1986 listing as it provided not only a landbanking opportunity for the central bank, but also to provide overflow accomodation for lecturers participating in the 1988 SEANZA conference. Only oldtimer RBA watchers like Alan Mitchell, Ross Greenwood and Terry McCrann would know the establishment of South East Asia, New Zealand, Australia (SEANZA) grew out of a 1956 meeting of central bank governors from the Asia-Oceanic region.  Ensuring the landbanking opportunity, the RBA also bought next door, 8 Carabella Street in the very next month, May 1986 for $575,000, which was 14 flats in a historic building with three storey Italianate tower on 799 square metres. Its heritage listing describes it as having simplified Italianate details used with restraint. It was incorporated into the bank's then conference centre plans for its longtime holding at 112a Kirribilli Street, joined by a two level brick-walled passage between 8 Carabella Street and the large new development adjacent.
The property adjacent to 8 Carabella Street is the RBA's training and conference property, the H.C. Coombs Centre for Financial Studies on Kirribilli Avenue.  The centre has 30 guest rooms – 12 with harbour views and 18 with garden views.
The site where the H.C. Coombs Centre for Financial Studies now stands originally housed a guest house but following its acquisition by the Commonwealth Bank the building was turned into a residential training college for staff.
The Reserve Bank inherited the building in 1960 using the premises to host interstate staff employed by the Bank at residential courses.
The tenants of one of the apartments within 10 Carabella Street gave notice of their plans to vacate in mid-2013, but the other tenant wanted to stay despite the poor bathroom, and even sought to buy it off the bank directly.
“The bathroom works have been planned for some time and for this reason, the latest lease term of one year was offered," bank email correspondence shows.
“I note your request to negotiate off market for the acquisition of the property, if the bank decided to sell it for reasons of probity and in the taxpayers' interests, it would approach the market transparently and at arm's length.
"It would be improper for the bank to negotiate a sale that was not transparent and it would not do so” emailed Linh Gutierrez, the RBA senior manager property services.
news@propertyobserver.com.au
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jchancellor-FAypfDUnLy

No more landlord niggles, as RBA lists excess $4 million Kirribilli residential property 

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A two-bedroom apartment in Sutherland has been sold for $615,000 by Raine &amp; Horne Miranda, creating a record for this type of property in the area.
Pointing to retirees as the ‘major factor’ in securing a record price, despite it being sold to a first home buyer, the 18-month old north-facing apartment, at 3/7 16-720 Princes Highway, <a href="/news">Sutherland</a>, had 28 groups at the open inspections.
RP Data records that two-bedroom, two-bathroom neighbour at 2/7 sold for $546,000 in early February. Sutherland's median price for units is $450,000, with $410 per week rent.
Principal of Raine &amp; Horne Miranda, Anthony Bouteris, said that this beat the previous record by $45,000. Sold at private treaty, the affordability of the area and low interest rates are said to have been encouraging buyers.
“This time last year, a near-new two bedroom apartment of this calibre would have attracted about 14 groups,” said Bouteris. 
Downsizers from <a href="/news">Gymea Bay</a>, <a href="/news">Lilli Pilli</a> and <a href="/news">Caringbah</a> were a dominant group at the open inspections for this property and others in the area.
“Although this property sold to a first home buyer from Hurstville, who had the support of a cashed-up grandparent, the majority of aspiring buyers are empty-nesters looking to shift from bigger homes to apartments closer to shopping centres such as Westfield Miranda, as well as better medical and transport services,” he said.
The first floor apartment’s price isn’t far off of that of an older two-bedroom house at 30 Auburn Street, Sutherland that recently sold for $717,000.
Due to this interest, Bouteris predicts that 15% growth is expected for the area and surrounding suburbs this year.
 
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>  
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