Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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?

Work is expected to resume later this year on the Nightcliff apartment complex Seabreeze in Darwin.

The project stopped construction in 2016 given the ailing Northern Territory economy and a downturn in the apartment market.

Sunbuild has reportedly lodged a reapplication permit for the site on the corner of Progress and Dick Ward drives.

Sunbuild owner Neil Sunners has begun the process of completing the five-storey, 92-apartment development.

About a third of the project had been completed, the NT News reported.

Sunners said it had taken until now for confidence in the economy to return.

“I believe the time is right in Darwin to get going again, as the economy is stronger than a few years ago and confidence is continuing to grow,” Sunners told the NT News.

He expects it will take about eight months to complete with works likely to begin around August.

The project was first mooted in 2009

Darwin, which is a small town and relies on big oil and mining projects, has seen a weak apartment market.

According to the latest data from real estate firm Raine & Horne, the number of properties hitting the market for sale in Darwin is about 75% higher than the capital city’s historical January average.

Glenn Grantham, at Raine & Horne, noted there had been a surge of vendors releasing their properties for sale in January, "after many recognised last year had been very good for capital growth.” 

In 2021, Darwin’s real estate values increased by almost 15%, its highest annual growth rate in many years.

"Many of the properties for sale are long-term rentals. 

“Given the transient nature of Darwin’s workforce, plenty of tenancy agreements end at this time of year and rather than seeking to find a new tenant, the owners are deciding to put the properties on the market for sale
.
“This decision makes plenty of sense as it is often more straightforward to show a vacant property to buyers than a home with a tenant.”

"Around 85% of buyers in Darwin are currently owner-occupiers seeking to a first home or to upgrade. 

"If there is a lease in place on a property, first home buyers and upgraders will look elsewhere.

“We’ve even seen an increase in off-market sales to tenants.

“These off-market sales not only take the tenant out of the rental market but also take the long-term investment properties out too.”

 “The silver lining is that a smaller pool of rental properties combined with strong tenant demand will push up investment yields in Darwin which is great news for investors.”

Sunbuild stopped construction at the site in 2016 

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Seabreeze, Darwin apartment block set for 2022 construction restart

The three bedroom Rapid Creek apartment of&nbsp;the boilermaker Robert Crispe featured in the last series of&nbsp;the&nbsp;LifeStyle Channel&#39;s&nbsp;Selling Houses Australia has been sold to an owner-occupier.

It was after four on-off marketing campaigns over the previous two years all the while the data and the headlines suggesting Darwin was the best price performing capital city in the country.

The then&nbsp;vast, empty penthouse apartment had been on the market since late 2010 with its pre-Selling Houses Australia makeover asking price falling from its lofty $790,000 despite Darwin being&nbsp;in the midst of a property boom.

It&#39;s been recently sold for a respectable $660,000, several months after the show put the apartment to late 2012 auction.

[smartcode_project:default project_id=5502 project_image_fid=155330]

It last sold at $275,000 in 2003, thereby reflecting 8% annual price growth.&nbsp;Latest research from RP Data shows over the past decade Darwin&#39;s house and unit prices have increased 10% per annum.

Its $1700 a quarter body corporate rates wouldn&#39;t have helped secure a sale.&nbsp;

The suburb&#39;s median unit price sits at $431,500, up 13% on the year and 37% over the past five years, <a href="/news">according to RP Data</a>.

The presenter Andrew Winter initially said the penthouse&nbsp;was a 1970s time capsule before its five days of renovations.

Andrew Winter&#39;s Selling Houses Australia described the Darwin apartment offering&nbsp;on its initial appearance as&nbsp;like a remand centre with the&nbsp;roofed terrace of a prison exercise yard.

But it attracted no bids at the filmed auction and was then listed with a&nbsp;$699,000 asking price&nbsp;through&nbsp;Shun Hatton at O&#39;Donoghues First National.

The 151-square-metre, three-bedroom, two-bathroom 1979-built unit was being marketed as&nbsp;having<a href="https://www.realestate.com.au/property-apartment-nt-rapid+creek-112221983" target="_blank"> &quot;wow factor&quot;.</a>

[smartcode_project:default project_id=4939 project_image_fid=152578]

Located close to amenities including beaches, quality schools, university and transport,&nbsp;O&#39;Donoghues&#39;s&nbsp;property managers estimated prior to its sale to an owner occupier that the potential rental was $850 plus&nbsp;per week furnished.

The Rapid Creek block&#39;s most recent sale was $388,000 for a two bedroom 74 square metre unit which was listed late last year with a $420,000 plus asking price. It was put up for rent at a $480 a week asking rent, which has since been reduced to a $430 a week asking rent, reflecting a 5.7% yield.

The prior sale in the block was in 2011 at $350,000 for a two-bedroom, one-bathroom 74-square-metre garden unit, which was recently available at a $430 a week asking price lease. Its rental in 2002 was $170 a week.

Even Selling Houses Australia's Andrew Winter-renos didn't turn the tide on Rapid Creek, Darwin apartment offering

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Nightcliff is Darwin’s most searched suburb by buyers, but with a median house price of $843,448 it’s out of reach for many. But nearby Coconut Grove has a median house price that is 19.8% cheaper.
Westpac has compiled a list of 10 Darwin suburbs where it’s cheaper to buy than in their more popular but pricey neighbouring suburbs.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/09/03/darwin-houses-sept-3-big.gif" rel="shadowbox"><img src="/images/stories/2013/09/03/darwin-houses-sept-3-small.gif"></a>
The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price. The most popular suburbs were determined by the most searched for suburbs on realestate.com.au.
“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” says Westpac’s Gai McGrath.
If you wanted to buy a house in Darwin’s fourth most popular suburb, Parap, with a median house price of $808,054, you could consider travelling just three kilometres down the road to The Narrows where the average house price is 27% cheaper at $591,916.
You could own your home 15 years and eight months sooner and save $216,138 in purchase price $244,122 in interest repayments over time, according to Westpac.
If you wanted to buy a unit in Golden Grove, Adelaide’s eighth most popular suburb, you could consider travelling eight kilometres to Salisbury East where the average unit price is 28% cheaper.
The hidden suburb with most marked difference with its more popular counterpart was The Gardens which with a median house price of $719,522 is 40.5% cheaper than Larrakeyah’s $1.21 million.
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Darwin's 10 hidden gems: Parap is 27% cheaper than The Narrows and just 3km away

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CBRE has recruited agribusiness veterans Phil Beale and Geoff Warriner amid what the agency sees are signs of a turnaround in Australia’s northern cattle station market.

Mr Beale is the former CFO of AACo, Australia’s largest cattle producer, while Mr Warriner is the former COO of Consolidated Pastoral Company, Australia’s second largest cattle producer.
Danny Thomas, regional director of CBRE Agribusiness, said the appointments put CBRE in a strong position to capitalise on the recovery in Australia’s cattle station market which had suffered as a result of the high Australian dollar, high debt and the Federal Government’s intervention in the live cattle trade and, more recently, drought.
CBRE has rapidly expanded its agribusiness team from a standing start in May last year to more than 30 sales and valuations professionals around the country.
Mr Beale and Mr Warriner bring a combined 45 years of agribusiness experience to the team.  
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/cbreAustralia/status/374333101235003392"><img height="204" width="470" src="/images/stories/2013/09/02/tweet-of-the-day-sept-2.jpg" alt="tweet-of-the-day-sept-2"></a>
<div class="stream-item-footer"><a href="https://www.propertyobserver.com.au/cbreAustralia/status/374333101235003392" class="details with-icn js-details"> </a></div>
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CBRE rustle up veteran cattle pastoralists for its agribusiness team 

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If an escape from winter’s chill isn’t enough reason to shift up north, recent industry reports on the demand for building and construction work in the Northern Territory should convince many businesses to upstakes and go.
While many regions will experience varying outlooks across residential, non-residential building and engineering construction work, the Australian Construction Industry Forum’s latest report for the territory shows positive growth for all sectors over the short-medium term.
<img height="323" width="470" src="/images/stories/2013/08/acif-chart-aug-14-four.jpg" alt="acif-chart-aug-14-four">
The NT has enjoyed a sustained period of strong demand in engineering construction. While the peak has been crossed, the rate of work will remain at historically high levels over a long period. And this has a bump-on effect for other sectors, too.
“Construction staff and others working in mining, infrastructure and other engineering projects increase the demand for other building work. These businesses and their staff need housing, health services, entertainment and retail therapy, all of which benefit the region and the local building and construction industry,” says ACIF executive director Peter Barda.
“ACIF’s Construction Market Report shows that the Northern Territory will enjoy heightened demand across all sectors for much of the next decade, and when it does fall back it will be to levels that still offer good amounts of work for the industry.’’
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NT engineering construction has peaked, but set to remain at historic highs over a long period: ACIF

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After a busy 12 months the Darwin property market has stabilised over the last quarter with median house and unit prices holding steady and the number of sales dropping considerably, according to valuers Herron Todd White.  
‘’According to REINT’s latest quarterly statistics, inner Darwin median house prices increased 5.4% over the year, however the last quarter saw no increase with the current median selling price sitting at $875,000.  
‘’In the northern suburbs, Sanderson showed 4.1% growth in the past 12 months and this last quarter saw a 1.1% increase, now at $572,500. Palmerston, which has gone up 12.7% for the 12 months to March 30, had a 2.8% increase over the first quarter with a median  house price of $550,000.’’  
Herron Todd White says the overall Darwin median two-bedroom unit price is at $425,000. This is a 2.4% increase over the past 12 months, but over the last quarter it has decreased 1.2%.  
So, while there have generally been small increases in the median price, the big change is in the sales volumes.  
The inner Darwin sales volume is 19.2%  down on the previous year - while the northern suburbs (Sanderson) recorded a 20.7% drop in sales.  
Cheaper house prices and development projects in Palmerston meant there is less of a drop at 12.3%.  
With more and more people coming to the Top End rents are still strong, the valuer says. Rent was generally up across the board in the Darwin region with three-bedroom house rentals showing a 1.9% increase in the last quarter and a 16.3% annual rise.  
‘’Anyone who bought in the past two years would now be sitting back happily with some strong capital gains. Those who bought in late 2009 and early 2010 will be breathing a sigh of relief now that the market has corrected itself after the drop in 2011.  
‘’But the gains that we have seen over the past year or so were unlikely to keep on at such a high rate because of unsustainable growth and affordability issues,’’ the valuers say.  
While things have quietened down slightly, the Darwin market is still sturdy. Indicators such as low vacancy rates and a shortage of housing mean that, while prices may have stabilised and might not increase much in the short term, investors with a long-term view will still do well.  
‘’Unit developments in the area will release more than 500 units into the market over the next 12 to 18 months which could lead to oversupply and lower rental yields,’’ Herron Todd White forecasts.  
‘’However, there are still good returns in the housing market with rents ready to rise over the short term, with infrastructure projects, such as INPEX, increasing demand.’’  
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Darwin property market stabilising, despite considerable sales drop: Herron Todd White

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Darwin is losing its status as the growth leader of capital city Australia.  
The Northern Territory was the runaway leader on rental and price growth last year and the early part of this year. But its markets may be cooling.  
I say that with a degree of caution, because the statistics suggesting a tapering of price growth in Darwin are recent – and it’s often a mistake to make too much of data covering a short time period.  
Cycles are seldom smooth and there are fluctuations from one month to the next; it’s the long-term trend that matters.  
The underlying economic indicators for Darwin and the Northern Territory continue to be exceptional.
The Northern Territory has the second lowest unemployment rate in the nation, the highest economic growth and the strongest annual growth in finance to property investors.  
For the first half of 2013, Darwin has been one of the standout performers in the nation.
Australian Property Monitors records a 10% annual rise in the median house price and a 6% rise in the median house price, but the figures for the June quarter, from both APM and RP Data, suggest a slowdown. APM reports a 2.1% decrease in Darwin’s median house price, while RP Data records a 1.8% drop.  
National valuation firm Herron Todd White appears to agree, writing in its August edition of The Month in Review: “After a busy 12 months, the Darwin property market has stabilised over the past quarter, with median house and unit prices holding steady and the number of sales dropping considerably.”  
That latter factor, a major drop-off in sales volumes, is ominous because a change in the number of sales is usually a forerunner to pricing changes.  
But rents remain very strong.
Darwin has the highest average rents in capital city Australia and they’re still rising, according to Herron Todd White.
The median rent for a three-bedroom house has grown 16% in the past 12 months.  
HTW says: “While things have quietened down slightly, the Darwin market is still a sturdy one. Indictors such as low vacancy rates and a shortage of housing mean that, while prices may have stabilised and might not increase much in the short-term, investors with a long-term view will still be able to do well.”  
The market requiring the most caution is the city unit market. Darwin has had a substantial over-supply in the recent past and may have another in the near future.  
“A number of unit developments in the area will release more than 500 units into the market over the next 12-18 months and could lead to over-supply which could lower rental yields,” HTW says.  
A 26.5% rise in building approvals in the Northern Territory (mostly in Darwin) sounds impressive, but it may contain the seeds of the over-supply to which HTW is referring.  
So it’s time to be a little cautious about Darwin.
It continues to have the highest rental yields in capital city Australia, by a considerable margin, it still has very low vacancies and it will continue to receive a massive boost from the Ichthys gas venture.  
But I’d be waiting for the next big set of numbers to make judgment about the trend in Darwin.  
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank" rel="nofollow">hotspotting.com.au</a> and you can contact him at <a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a> or <a href="https://twitter.com/hotspotting" target="_blank">twitter.com/hotspotting</a>.
 
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terryryder-YECXbqmri2

Is Darwin's property market cooling?

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Darwin's northern suburbs present the best bet for investors looking future capital growth says Herron Todd White in its June market report.
"The Darwin CBD is dominated by investor owners who are looking to cash in on the high yields, while the northern suburbs are mainly owner-occupiers. So with current renters being driven into purchasing this could lead to capital growth in the northern suburbs where a large percentage of owners are owner-occupiers," says the valuation firm.
HTW also notes that Palmerston, 20 kilometres south east of Darwin, could also see some growth in new sub-divisions such as Durack Heights and Zuccoli "where many investors are putting their money".
"With news of INPEX (the Ichthys LNG Project) and other infrastructure projects in the area forecasting a higher need for housing. the new developments seem to be the first port of call for investors in the area as it offers brand new housing which is going to get the higher rent and require less maintenance.
"As the demand for housing increases and these new suburbs develop, this could lead to an increase in value."
HTW notes that Real Estate Institute of NT (REINT) statistics show that Darwin has been a hotspot for growth over the past 12 to 18 months compared to many other capital cities of Australia which have been slow in recovering from the effects of the GFC.
These figures show that inner Darwin suburbs have seen a 5.4% annual increase (to 31st March 2013) in median house price and 11% increases in median unit price. northern suburbs (Sanderson) 4.1% increase in median house price and 7.4% increase in median unit price, and Palmerston has had an 12.7% in median house price and 11.5% increase in median unit price.
The median house price for inner Darwin now stands at $875,000, the northern suburbs (Sanderson) $572,500 and Palmerston $550,500.
For units, the median price for inner Darwin is $499,500, the northern suburbs (Sanderson) $386,500 and Palmerston $399,000.
HTW notes a shift among homebuyers "due to the affordability challenges of renting in the top end".
"Many of the buyers are those that are fed up with the high rental costs, and are jumping off the rental roundabout into home ownership for similar and in some cases lower cost.
The average two-bedroom unit/townhouse in inner Darwin rents for $552 per week.
"Given that a $500,000 loan at 6% will cost you around $576 per week, it is understandable why this is happening.
HTW predicts that Darwin capital values will remain "relatively stable in the short term" noting that currently prices are "high compared to other state capitals and affordability is becoming a real issue which is underpinned by a severe housing shortage in the region".
"Many are pointing at Darwin as a major city of the future for Australia, with China and much of Asia looking like being economic leaders of the world in the ‘Asian Century’. Darwin is the closest Australian city which could see the region grow sizably due to trade and tourism.
"As an investor buying in the current market, Darwin could be a great option with high returns and indicators suggesting rents could go up even further in the next 12 months if the housing shortage is magnified as a result of the infrastructure projects mentioned above. As a home owner it seems to be a case of looking to purchase just to keep costs down so living in the region remains a viable option.
"However, the news is not all bad for those not yet ready to step into home ownership. A number of CBD towers are under construction and looking to be completed in late 2013 to early 2014 which will release over 200 units and should give some much needed rental relief in the market."
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Darwin's northern suburbs present capital growth opportunities: HTW

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The decline of the live export trade has cut the value of agricultural land in the Northern Territory with major land holders slashing the reported value of their holdings.
Herron Todd White's latest report says there were no new confirmed sales of commercial sized rural property in the <a href="https://www.propertyobserver.com.au/northern-territory/" target="_blank">Northern Territory</a> in March apart from a small cattle block in the Florina District near <a href="/news">Katherine</a>.
“Details remain confidential at this stage however the sale will reflect a discount on the 2009 purchase price in the order of 35%,” Herron Todd White writes.
Meanwhile Macquarie Pastoral Fund’s Paraway Pastoral, one of Australia’s largest landholders, has lost $23 million after being hit by property devaluations, according to ASIC documents obtained by The Australian Financial Review.
The $700 million fund’s properties in Queensland and Northern Territory had $27 million wiped off their value over the year to December 2012.
The fund, which recorded profits of $700,000 last year, blames 2012’s losses on the declining live export market.
Valuations from Herron Todd White and M3 Property Strategists recorded a carrying value of $424 million for its overall portfolio of 3.6 million hectares.
But properties in Northern Australia, which include the 1 million-hectare Walhallow Station and the 1.5 million hectare Davenport Downs fell 8% in value to $248 million.
Indonesia is a critical live export market for Australian cattle producers. In 2007 Australia exported 772,000 live cattle to Indonesia but that dropped to just 278,000 in 2012 because of Indonesia's moves to become self-sufficient in beef following a temporary suspension of live cattle exports in 2011.
 
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The collapse of the live export trade led to the market being flooded with cattle and sheep.
The fund didn’t pay any dividends to its shareholders but it has set aside more than $9 million to reinvest into property.
After spending $111 million on live stock properties in 2011, the fund did not purchase any major property in 2012, though its sister company Lawson Grains did, including $16 million of land in northern NSW.
Australian Agricultural Company recently posted a $40.8 million decline in its portfolio’s value.
It said the fund was hardest hit in the Northern Territory where properties were “impacted by the live cattle suspension”.
“This result was primarily due to flow-on effects from the Federal Government’s live cattle export suspension in mid-2011,” the company’s chairman, Donald McGauchie said in March.
“As a result of the suspension, cattle which would have ordinarily been exported to the Indonesian market remained in the Australian market. This caused over-supply issues and a subsequent deterioration in the domestic cattle price.”
He said the suspension “created a challenging property market in northern Australia, which has led to a significant decrease in the value of AACo’s extensive land holdings in the region.”
Herron Todd White’s latest monthly report says the situation may not last though, with the government’s push to introduce legislation allowing property holders to diversify how they use the land.
“During this recent period of uncertainty in the north of the Northern Territory where the market is still finding it difficult to stomach the prospect of placing all eggs in just one basket (ie the live export market), it looks like there will soon be more to consider now that the Northern Territory Government has announced their intention to push through with proposed changes to the Northern territory pastoral land act,” Herron Todd White writes.
“The proposed amendments aim to give 38 pastoralists greater freedom to utilise their property’s natural attributes and diversify the income streams possible from their cattle station.
“It would appear that the support for the change is wide and if enacted could have significant benefits for the Northern territory pastoral industry and is likely to change the way buyers and sellers look at a particular cattle station.”
 
 
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NT agricultural property market still reeling from live export ban

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In one of my current seminar presentations, I throw up a slide of data about Darwin with the comment: “Here’s what a boom market looks like.”  
The numbers tumbling out of Darwin and the Northern Territory are extraordinary.
The Territory ranks No.1 in Australia on a number of key economic and property indicators. It has the lowest unemployment rate (3.9%, against the national average of 5.4%) and employment growth is running at almost three times the national average.
State Final Demand has risen 27%, six times the national average.
The Territory ranks No.1 on three key real estate indicators: growth in loans to home buyers, the increase in investor loans and growth in building approvals.
Housing finance commitments by owner-occupiers are up 18% in annual terms (five times the average) while loans to investors have risen 30% (four times the average). At a time when building approvals nationally have increased just 1.4%, in the Territory they’re up 46%.
Darwin continues to have the highest residential rents among the state and territory capital cities (the typical house is $650 per week and apartments average $550) and rental growth in 2012 was exceptional – the house median rent up 16% and the apartment median rising almost 20%. Perth is the only challenger to those growth rates.
Often different research sources provide conflicting numbers about price growth, but everyone seems to agree that Darwin house prices, on average, had double-digit growth in 2012. The Australian Bureau of Statistics, Australian Property Monitors and RP Data all say about 10%, while the Real Estate Institute of Australia reports 12%.
With all four sources, Darwin had the biggest price growth last year among the capital cities, by a considerable margin.
According to the REIA, Darwin has the second highest median house price ($578,000) among the cities, after Sydney.
The thing about Darwin is that its current upward cycle is just beginning. The prime catalyst is the $34 billion Ichthys gas project, but there are plenty of other big infrastructure projects to carry the Territory economy forward.
There are numerous mining projects, a marine supply base, a prison, an abattoir, the possibility of expansion of ConocoPhillips’ gas facilities and the ongoing expansion of the US military presence in Darwin.
Any of Australia’s capitals would experience an uplift with that level of economic activity, but Darwin in a city of just 120,000. In 2013, as in 2012, it is likely to be the national leader on real estate performance.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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The numbers tumbling out of Darwin are extraordinary: Terry Ryder

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Buoyed by its multi-billion dollar resource projects, Darwin ranks as the strongest property market in Australia with strengthening buyer activity and exceptionally high demand for houses recorded in the final quarter of 2012.
There were 825 property sales recorded over the quarter totalling $414.3 million, a 14% increase on the volume of sales in the September quarter where there were 732 transactions, totalling $364.8 million, according to a new report by Colliers International.
“In the December quarter the median house price was recorded at $600,000 and it was found that in Darwin 43 % of all house sales were recorded between $500,000 and $600,000” says Colliers International analyst Lianna Georges and author of the latest Darwin Residential report.
Rents also rose “substantially” over 2012 with average rental rates now around $700 per week for a three-bedroom house and $550 per week for a two-bedroom unit, “making Darwin very appealing to investors”.
However, Colliers also notes that the increased rental rates have pushed up the cost of living in Darwin and may "place home-ownership out of reach for young locals”.
Georges warns that a lack of affordable housing will remain a key issue for 2013 with minimal stock priced under $600,000, while changes to Northern Territory government incentives, could potentially affect home ownership.
“The previous First Home Buyers scheme included no stamp-duty up to a threshold of $540,000, a $7,000 grant to first home buyers and the addition of the $10,000 Build Bonus Grant for new dwellings. These incentives have been replaced by a new $25,000 First Home Buyers grant for the purchase of a new dwelling, or a $12,000 grant for an existing dwelling; although home buyers are now liable to pay for stamp-duty on their first home,” explains Georges.
A search on realestate.com.au for properties under $600,000 reveals no free-standing houses among the 197 properties listed under this threshold, with two and three-bedroom units dominating listings under this limit.
<a target="_blank" href="https://www.realestate.com.au/property-house-nt-darwin-112524147">A four-bedroom house and land package</a> is offered at $640,000 through Helen Saunders of KRK Properties – Mandurah, but does not disclose the address with the more than half of the listing devoted to describing the billion dollar liquefied natural gas projects in the pipeline or underway in and around Darwin.
According to RP Data, Darwin values for the year to December increased by 11.7 %, far surpassing Sydney where a 2.5% increase in house prices was recorded.
The unit market continued to record steady sales growth in the December quarter and offered a more affordable housing option for first-home buyers.
Over the course of 2012, the strongest price band for unit sales was $400,000 to $500,000 comprising 31% of all unit sales.
Georges says that as 2013 unfolds, Darwin will be “keenly observed particularly in regard to rental rates as interstate investors look to purchase property with enticing yields; although this has the potential to be counteracted by the rising cost of living that may place home-ownership out of reach for young locals”.
“The year ahead will be an interesting time for Darwin’s property market as the Territory continues to experience unprecedented economic development.
“The past 10 years have seen Darwin transform from a sleepy regional town, into a dynamic capital city that is burgeoning with trade, resource projects and new development.
“As Darwin continues to grow over the next decade and attract new residents, the need for infrastructure development to assist housing construction will become apparent,” she says.
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