National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

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The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

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Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

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Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

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Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

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Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

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Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

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One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

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There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <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> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

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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Coal mining executive Peter Bond from Linc Energy has spent $2,125,000 to buy the landmark 125-year-old former Redfern post office, now an office building, as an investment. It was sold recently by Max Markson, the publicist who had used the Redfern Street heritage property as the base for publicity business Markson Sparks for five years. The building, which has a clock tower and bell, sold through McGrath agents Paul Ephron and Ben Forsyth. Markson had bought it from Sorin Dascalu &amp; Associates in 2006 for $1.9 million.
“This commercial opening comes at a time of exciting regeneration and rapid development to the vibrant city fringe location,” Ephron says.
The former Redfern Post Office, in Redfern, NSW, was built in 1882. It has a two-storey Victorian Italianate building plus a dominant four-and-half-storey corner clock tower. The post office included a telegraph office, parlour, drawing room, three bedrooms, kitchen, a servant’s room, bathroom, scullery, washhouse, fuel shed and two stall stables. In 1880, £3000 was provided for the erection of the Redfern post office, and then the Public Works added a clock tower for an estimated extra £700.
The building has 480 square metres of internal space on its 330-square-metre Redfern Street block. Markson is looking for bigger space, and the upstairs tenant, Andrew Forrest’s Generation One Aboriginal employment initiative, retains occupancy of the upstairs space.
Redfern’s recent sales include Fiona Lochtenberg, the wife of Cockatoo Coal director Mark Lochtenberg, spending $2,215,000 through Cushman &amp; Wakefield agent<a title="Cushman &amp; Wakefield - Sydney" href="https://www.realcommercial.com.au/sold-leased/by-abcsyi/list-1"> </a>Lindsay Sturrock for a two-storey premises with 702 square metres of space on its 493-square-metre holding.
The Turner Street premises are opening as upmarket cabintery premises, Studio Becker, after a refurbishment overseen by Dale Jones-Evans Architects.
Bond has been an active player in the coal and gold mining industries in Australia for about two decades and overseas after building on his early engineering background. He gained a unique knowledge and understanding of the coal mining industry over the course of a diversified career spanning more than 20 years. Linc Energy is a Brisbane-based energy company specializing in coal and synthetic fuel production.
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jchancellor-FAypfDUnLy

Redfern proving magnetic for coal executives

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A second apartment at The Cove Clovelly boutique apartment project in Sydney’s eastern suburbs has been sold off the plan.
The apartment, a three-bedroom unit located on the ground floor measuring 116 square metres, has been bought for $2.2 million, equating to about $19,000 per square metre. The buyer is an eastern suburbs-based owner-occupier.
This follows an earlier sale of a second-floor 120-square-metre apartment for $2.65 million, equating to around $22,000 per square metre.
Co-agent David Poppleton from RPM Group says there is an undisclosed offer on the 248-square-metre penthouse.
The Cove Clovelly, situated on Donnellan Circuit overlooking Clovelly Beach in Sydney’s eastern shore, features four apartments and two penthouses. Construction has commenced and it is due to be completed in 12 months.
“We expect to sell another two apartments while under construction and the other penthouse on completion,” Poppleton says.
Although there is strong interest in the development, Poppleton says buyers are more cautious.
“People are being very discerning. If you don’t have the right products they will wait,” he says.
The development is being marketed by Poppleton and Peter Coulton of Savills Residential Projects.
It has generated more than 450 registered expressions of interest since being launched in February 2011.
Coulton says interest has mainly been local, but includes potential buyers from Hong Kong and Singapore.
Coulton says the Clovelly market is quite strong because nothing else is being built in the suburb or in the surrounding suburbs of Bronte or Tamarama.
“There is quite a bit of development in Coogee,” he says.
Interest in Clovelly is not reflected in the wider Sydney market, with listed developer Becton reporting that off-the-plan buying for its Divercity apartments has levelled off in 2011.
Becton has submitted plans for the second stage of its Divercity project on Bourke Street in Waterloo featuring 359 apartments.
 “[Buyer pre-sales] are certainly not as strong as they were in 2011,” Becton CEO Matthew Chun has told the Australian Financial Review.
“There is generally more cautious behaviour from the consumer due to natural disasters and continued economic shocks around the world.”
The Cove Clovelly is been developed by Iris Capital and designed by Squillace Nicholas Architects.
The interiors use raw timber and natural stone features to present a modern interpretation of luxury beachside living.
A two-bedroom, two-bathroom apartment in the development is currently being marketed at $2.155 million by Peter Coulton and David Poppleton.
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lschlesinger-FZcF9M3vE6

Clovelly catches two off-the-plan buyers as caution increases

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13 Shellbank Avenue, Mosman, NSW, 2088
Yachties will be in heaven in this four-bedroom, five-bathroom waterfront residence with its own jetty, boat shed, pontoon and mooring shed. The contemporary, light-filled house has an infinity pool and large outdoor entertainment area, and those who don't want to climb the stairs to the third level will be glad to learn there is a lift. All four double bedrooms have ensuites and walk-in wardrobes, and the house also features a home study. It is being sold by <a href="https://www.propertyobserver.com.au/https://www.rwm.com.au/136041" title="Richardson and Wrench" target="_blank">Richardson and Wrench</a> agents Richard Simeon and Mark Manners, with price expectations of $13 million plus.
 
 
{module 238}
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cknowlton-QnEa6ntUYP

Waterfront indulgence in Mosman

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The Australian expatriate boss of Nakheel, Chris O’Donnell, is departing Dubai and returning to his Hunters Hill, Sydney home.
As Nakheel restructures $10.5 billion of debt, O’Donnell, who joined the Dubai World unit in 2006, quit after his contract ended.
Chief financial officer Sanjay Manchanda will replace him until further notice, the company says.
“The departure won’t affect Nakheel’s strategy, which at this point is determined by the government and the chairman,” says Majed Azzam, an analyst at AlembicHC Securities in Dubai.
“Once the restructuring is completed, the new CEO will have to start making some tough decisions on what to do with Palm Jebel Ali and other projects that are on hold.”
Nakheel, which constructed an artificial archipelago shaped like a world map, has suffered since Dubai’s property prices slumped 64 percent from the market's peak in mid-2008.
Mr O’Donnell leaves behind two Australian former colleagues, Matthew Joyce and Marcus Lee, who were senior executives of the Nakheel, subsidiary Dubai Waterfront.
The two, who can’t leave the emirate, are accused of profiting from the sale of land in an unauthorised manner.
O’Donnell recently testified in their favour.
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Nakheel CEO quits and returns to Sydney

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With a modern interpretation of the Victorian terrace, five grand new terrace homes built within the heritage-listed Walter Reynell &amp; Sons building redevelopment in The Rocks in Sydney are nearing completion and listed for sale.
Set on Gloucester Street, the Reynell Terraces all come with a timber-clad triple-storey, eight-metre-high glass atrium that bathes the interiors in natural light.
Overseen by the Kann Finch Group, the strata title Reynell Terraces sit within the 1913 Walter Reynell &amp; Sons wine-making building, which when built was among the last phase of warehouse and light industrial development in the Sydney CBD.
The Reynell Terraces sit on the ridge of Sydney Cove, where the First Fleeters established small farms and homes, which then gave way to terraces, lodging hostels and hotels to accommodate the growing seafaring and mercantile population.
By the late 1800s and early 1900s bond stores proliferated, typified by The Reynell Building and The Bushells Building.
The latest arrival of residents will have the services of a concierge and use of an indoor heated lap pool and gymnasium located in the inter-connected 30-storey Stamford Residences tower.
“The Reynell Terraces combine the vibrancy of New York, the leafy charms of Paris, the urban sophistication of London and the true heritage of Sydney,” says Murray Wood of Colliers International.
“The serenity inside each terrace is hard to believe considering they are located on the southern edge of the Harbour Bridge in one of Sydney’s most popular precincts.”
There are four three-bedroom, four-bathroom terraces with space of between 203 square metres and 243 square metres internally, along with eight-square-metre balconies. There is also a smaller two-bedroom, three-bathroom terrace houses (169 square metres plus eight square metres externally).
Two of the terraces have been decorated, by Coco Republic (pictured) and Thomas Hamel.
Prices are around $4 million, with strata levies expected to be around 0.6% of the purchase price.
The neighbouring 122-apartment Stamford Residences, which is the last approved high-rise development in The Rocks Urban Conservation Area, has seven apartments remaining.
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Five grand terraces built within heritage Reynell development

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“Venice-like” islands, laneway jetties and rooftop gardens are some of the architectural features that could one day grace the Parramatta River foreshore, the commercial, government and retail hub of greater western Sydney.
These were the concepts contained in the winning “Ideas on Edge” entries selected by judges as part of the Parramatta Council’s plans to develop a 2.2-hectare site between the Lennox and Bernie Banton bridges on the Parramatta River.
The development zone is connected to transport, shopping facilities and Parramatta’s dining precinct, “Eat Street” (Church Street in the CBD).
One of the judges, Sydney architect and executive chairman of Hassell Ken Maher, says the top three winners demonstrated an ability to capture the city’s relationship with the river.
“Parramatta Islands”, for instance, takes advantage of Parramatta’s waterfront access by proposing opening up the area to business, culture and social life, based on similar principles adopted in the cities of Venice, Amsterdam and Suzhou.
Another winning submission “Vertical Farming and Laneway Jetties” was recognised for its ability to reduce transport costs.
“The ‘Innovation Ecosystem” submission was chosen as a winner after the judges found that “it brings nature and commerce together and encompasses mixed-use development, including housing, an aged-care facility and just about everything you can think of”.
Parramatta Council will now take on board all of the ideas submitted when creating a functional brief for the site. The council will also consider the long-term master planning of the whole site.
Expression of interest will be accepted later this year.
A $70,000 prize pool will be distributed to the three winning entries, which came from Sydney, Brisbane and Arkansas, in the US.
The competition received 160 submissions from architects, designers, artists and students from all over the world including the United Arab Emirates, China, Belgium, Netherlands, United Kingdom and the US.
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Parramatta has Venitian dreams

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Listed property trust Stockland is shifting its focus away from industrial, as it prepares to develop a $1 billion residential and retail development in south-west Sydney at the same time as it is selling $200 million worth of its industrial assets.
The 339-hectare East Leppington development, the property group’s second NSW acquisition this year, is set to become about 3000 homes and a shopping precinct.
“The transaction further increases our geographic diversity and strengthens our presence in NSW,” Stockland chief executive for residential Mark Hunter told the Australian Financial Review.
The vendors are reported to be private landowners Joe Stambe and Vince Lopresti, and the first homes on the site are expected to be sold in the 2014-2015 financial year.
The news comes at the same time Stockland has confirmed it is in negotiations to sell $200 million in industrial properties. Currently about 13% of the group's commercial investment portfolio is made up of industrial properties.
The group's commercial property chief executive, John Schroder, says Stockland is considering an offer of about $200 million, which comprises 20 per cent of its entire portfolio, and that negotiations were advanced.
"We have a clearly articulated strategy to reweight our commercial portfolio towards retail and self-fund our growth opportunities," Schroder says.
Schroder says Stockland was also evaluating a number of acquisition opportunities for reinvestment of the proceeds into assets across the group.
This is in line with Stockland's "3-R strategy", which involves investment in retail, retirement and residential property.
On delivering its half-year result, Stockland said it had sold $148 million of non-core office and industrial assets. At the end of May, Stockland sold 50% of its stake in Waterfront Place, the fifth tallest building in Brisbane, to the Future Fund for $216.4 million. In the second half of last year, Stockland reported a profit of $425 million.
The company has advised in the next five to seven years, it aimed to own and manage a quality commercial portfolio with 10% industrial assets, 15 to 20% per cent office assets and 75% of retail properties.
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Stockland sells industrial, buys retail and residential

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Michael Darling, the chairman of Caledonia Investments and scion of the establishment pastoral and mining family, and his wife, Manuela Darling-Gansser, have spent $14 million to buy a prized oceanfront North Bondi Beach residential building site.
The somewhat neglected five-storey apartment block – most likely to become a luxury condominium compound for the Bellevue Hill family – was recently bought from the retired IT entrepreneur Neill Miller.
Set on the rock shelf known as Mermaid Rocks on the ocean shore at North Bondi, the building now comprises 10 apartments that Miller consolidated at a cost of $14 million between 2006 and 2008.
The Art Deco 1930s Ramsgate Avenue block was marketed as the only privately owned apartment building with direct ocean access on the Ben Buckler peninsula through <a href="https://www.105ramsgate.com.au/" target="_blank" title="105 Ramsgrange">Martin Maskin at Raine &amp; Horne Double Bay in conjunction with Mary Anne Cronin at Raine &amp; Horne Bondi Beach</a>.
It had initial $15 million-plus hopes but sold pre-auction at a then undisclosed price.
Aboriginal rock carvings are etched into sandstone near the site, which has prompted some residents to regard the whole area as a place of cultural significance, but interested parties were advised an Aboriginal archaeological and cultural heritage assessment report had concluded that any development was unlikely to have an adverse impact.
The urbane Oxford- and Harvard-educated businessman is regarded as one of Australia’s savviest investors, having sold the family’s 41% equity in the finance house Clayton Robard for about $200 million shortly before the 1987 stock market crash.
Darling, a descendent of the pioneer John Darling and the son of long-time BHP director L Gordon Darling, was a McKinsey &amp; Company consultant in the mid-1970s. He once climbed Mount Everest as far as Camp 3.
From 1979 to 1987 he was managing director of Clayton Robard Limited, the funds management and life insurance group. In his seven years as managing director he oversaw a lift in its asset values from $3 million to $350 million.
He was also an outside director of the Australian Stock Exchange from 1986 to 1987.
He has been a trustee of the National Gallery of Victoria, a director of the Museum of Contemporary Art and chairman of Art Exhibitions Australia.
The Bellevue Hill family retains a family retreat on the Tilba Tilba coast in southern NSW. Architect Nick Tobias, of Tobias Partners, and Darling’s son-in-law, is in the box seat to undertake any new development.
Miller briefly envisaged the demolition of the building, excavation of the sandstone bedrock beneath and construction of a part three-storey, part six-storey residential apartment block made up of three units, four car spaces and two swimming pools. The plans were drawn up by Puflett Associates and Brian Myerson Architects.
During its marketing campaign, Martin Maskin said: “The ultimate would be the creation of one single residence, ranking it amongst the world’s unique homes.”
“Or there is the option to build up to five luxury apartments with vast internal and external living and entertaining areas with breathtaking ocean and Bondi Beach views.”
There are two approved plans allowing for the development to be divided into either three apartments with four internal car spaces, lift, plant room and boat house; or five apartments with lift and four external car spaces.
Mary Anne Cronin says: “This opportunity comes along once in a lifetime.
“When is there going to be another actual waterfront block of units available in Bondi? I don’t think anything like this could ever come up again.” Cronin notes.
“This is being pitched internationally as well as nationally, and I think a few interesting people will really see the value in this.
“Just about every image you see of Bondi Beach has this building in it, and Bondi is becoming bigger than the Harbour Bridge for people around the world.”
Miller moved to Sydney in the early 1980s, having started an IT database system in a garden shed in South Africa with his first cousin Derek Miller.
Since November 2010 Miller has been involved in Energy &amp; Carbon Intelligence System, an enterprise software solution that streamlines for businesses the capture, reporting and management of environmental data such as energy, fuel, water and carbon emissions.
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Michael Darling buys North Bondi apartment block for $14 million

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Super prime rents in the Sydney CBD have risen as high as $13,000 per square metre as a result of a resilient luxury brands market, according to a new retail report by Colliers. 
This top-of-the-market price was paid by a retailer in the Pitt Street mall. On average, high street retailers on Pitt Street Mall in the CBD are paying between $8,000 and $10,000 per square metre. 
Nora Farren, director of research at Colliers, told Property Observer “normal levels of growth are expected in the short to medium term”. 
“There has just been so much growth on the back of the completion of Westfield Sydney and Mid-City Centre [both on Pitt Street],” she says. “I do not expect to see similar growth until we see new developments.” 
During the past few years, strong rental growth was driven by the lack of space and reshuffling that occurred during the construction of Westfield Sydney. The report says rents are now expected to stabilise, with higher incentives returning to the market. 
While Castlereagh Street has traditionally been the heart of the luxury precinct in Sydney, a number of retailers are now choosing to locate on George Street, including Burberry at 343 George Street and Louis Vuitton at 70 King Street. As a result a new luxury precinct is forming on George Street between Martin Place and King Street. 
Melbourne has also enjoyed a strong luxury market of late, with the likes of Jimmy Choo, TAG Heur, Prada, Tiffany &amp; Co and Miu Miu all opening stores in Melbourne during 2010. 
Collins Street is still the major luxury shopping destination in Melbourne, with rents reaching as high as $6,500 per square metre. 
In the Perth market, luxury retailers can be found around the Hay Street precinct between William and King streets in the CBD.
 In Brisbane, there are a cluster of luxury retailers at Queens Plaza on Queens Street Mall, and on Edward Street in the CBD, where rents as high as $7,500 per square metre have been achieved. 
The growth of luxury brands is attributed to a flight to quality over the past few years, “with consumers showing a preference for investment pieces, making fewer, but more expensive purchases,” Farren says. 
The sale of luxury goods rebounded strongly last year. The Luxury Goods Worldwide Market Study by consultants Bain &amp; Company estimated that the global luxury market grew by 15% in 2010.
The report also notes the expansion of the luxury brands market into the suburbs with Chadstone shopping centre in Melbourne, and Westfield Bondi Junction in Sydney having recently introduced new international luxury brands. 
According to Colliers, a legacy of the GFC is that consumers are a lot more value-conscious and now prefer to shop either high or low. 
This is resulting in a polarisation of retail with the bargain and premium sectors benefitting most, and middle market retailers losing ground.
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Luxury retailers push up Sydney super prime rents

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Peter Lowy, the Los Angeles-based co-chief executive of the Westfield Group and son of the veteran shopping centre tycoon Frank Lowy, has spent $10.35 million on Sydney harbour-front residence.
The Double Bay purchase signals the likelihood that Peter Lowy and his wife, Janine, will be spending more time in Sydney. The couple have resided in the United States for the past 21 years, where he helped oversee the expansion of the Westfield Group into one of the world’s largest publicly traded real-estate companies, with investment interests in 119 shopping centres in the United States, United Kingdom, Australia and New Zealand. 
The property was recently sold by McLean family through LJ Hooker Double Bay agent Bill Malouf.
The four-bedroom house that sits on a 570-square-metre block was previously traded in 1998 for $3.25 million when sold by the late former chairman of the Maritime Services Board, John Barraclough, and his wife, Lois.
The house is set on a cul-de-sac close to the ailing heart of the cosmopolitan Double Bay village.
It comes with northerly harbour views, a sprawling grassed garden to the water's edge and a nearby berth for a small boat or dinghy.
The <a href="https://www.latimes.com/business/lat-fi-taxshelter_j69z80nc,0,469337.photo" title="Los Angeles Times" target="_blank">Los Angeles Times</a> has reported that Peter Lowy took American citizenship. The couple own a seven-bedroom, nine-bathroom Beverly Hills house, which was built in 2004 with 1,200 square metres of living space. The 4,460-square-metre block cost $US6.6 million in 2000. It currently has an estimated value of US$10.3 million, according to Zillow, the United States price estimate website. Its value at the peak of the property market in America was put at $US14 million.
<img src="/images/stories/lowy2.jpg">
Peter Lowy's two brothers have owned Sydney harbour-front homes for many years. Stephen is at Watsons Bay and the eldest, David, who recently stepped down from Westfield board after 34 years, is at Vaucluse. Their parents, Frank and Shirley, live on the harbour front at Point Piper.
In May Peter and Steven Lowy took over day-to-day control of Westfield Group as Frank stepped back from the company he founded in 1959.
Frank Lowy, 80, assumed the role of non-executive chairman.
Peter and Steven Lowy have served the company for 28 and 24 years respectively.
Both held operational management roles with the company early in their careers, with Peter starting as assistant treasurer in 1983 and Steven as manager of Garden State Plaza shopping centre in New Jersey in 1987. Both then spent time in leadership positions in operations, development and finance before progressing to more senior country head roles and then joint group managing directors.
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