<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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>

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Ellen Walker

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

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<a href="https://www.propertyobserver.com.au/auctions/afl-grand-final-day-auction-avoidance-with-few-vendors-willing-to-risk-missing-the-bounce/2012091656603" target="_blank"><img src="/images/stories/2012/09/33.gif"></a>
The number of Melbourne vendors who are <a href="https://www.propertyobserver.com.au/auctions/afl-grand-final-day-auction-avoidance-with-few-vendors-willing-to-risk-missing-the-bounce/2012091656603" target="_blank">bringing their homes to auction on grand final day</a>. The weekend before there are about 700 auctions scheduled, according to APM, and 500 on the following weekend.
 
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<a target="_blank" href="https://www.propertyobserver.com.au/retail/melbourne-shopping-strip-bridge-road-richmond-has-highest-vacancy-rate-in-five-years/2012091656593"><img src="/images/stories/2012/09/11point5percent.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/retail/melbourne-shopping-strip-bridge-road-richmond-has-highest-vacancy-rate-in-five-years/2012091656593">rental vacancy rate for Melbourne shopping strip Bridge Road</a>. This is up from 2.9% just two years ago.
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/sydney-housing-crisis-deepens-as-outer-suburbs-fall-further-behind-on-new-home-building-targets-mckell-institute/2012091656598"><img src="/images/stories/2012/09/2908.gif"></a>
The <a target="_blank" href="https://www.propertyobserver.com.au/residential/sydney-housing-crisis-deepens-as-outer-suburbs-fall-further-behind-on-new-home-building-targets-mckell-institute/2012091656598">shortfall of homes in Sydney for the first quarter of 2012</a>, according to the McKell Institute. The greatest concentration of houses is required in the south-west and the north-west, where the target is for 169,000 homes to be built by 2036, says the think-tank. “Councils across the city need to flatly reject NIMBYism and accept that if they don’t approve more dwellings and get the construction sector pumping, our housing affordability crisis will get out of control,” says McKell.
<hr>
<a href="https://www.propertyobserver.com.au/retail/st-kat-s-george-calombaris-s-kew-premises-gets-chinese-landlord/2012091756615" target="_blank"><img src="/images/stories/2012/09/4point31m.gif"></a>
The <a href="https://www.propertyobserver.com.au/retail/st-kat-s-george-calombaris-s-kew-premises-gets-chinese-landlord/2012091756615" target="_blank">price paid by a Chinese investor for the premises of St Katherine's</a>, the much-lauded Kew restaurant of MasterChef's George Calombaris and his business associate Shane Dalia.
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<a target="_blank" href="/news"><img src="/images/stories/2012/09/1point56m.gif"></a>
The <a target="_blank" href="/news">price that self-betterment guru Siimon Reynolds has secured for his Double Bay bachelor pad</a>. The two-bedroom apartment was last traded for $788,000 in 1997.
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The 5 must-know numbers of the working week, starting with Melbourne auctions on grand final day

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Commercial property investors James Dawson and Anthony?Pangallo are selling Koreelah, their five-bedroom 1905 Byron Bay hinterland farmhouse. 
It's an original Arts and Crafts-style house nestled on the hill below St Helena at Skinners Shoot.
All its rooms home featuring mahogany and teak floors and rosewood detailed ceilings open onto verandas.
The location was first settled in 1890, with the 1905 house trading for the only time in 1998 when bought from the original owners, the Raywards, one of Byron’s oldest families .
It had a sympathetic renovation to make it all quite luxurious.
There's a pool in its  two-hectare Skinners Shoot Road grounds. 
Its short stay rates are from $750 per night in the low season to $1,500 per night in the peak.
The property is listed through <a href="https://www.uniqueestates.com.au/Homes/Detail.aspx?id=ue277&amp;wlid=ea8be237-2fbf-4c6e-b7b1-b3632ce8033f">Nicolette van Wijngaarden of Unique Estates </a> with $5 million-plus hopes when expressions of interest close October 31.
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Koreelah, authentic Arts and Crafts home at Skinners Shoot

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<img src="/images/stories/flagtitletat.jpg" style="margin: 5px; float: left;">
Loch Maree, the latest Vaucluse harbourfront listing with ambitious $30 million expectations, comes with very special 1970s Leonard French stained-glass windows.

<img src="/images/stories/2012/09/lochmaree3.jpg">
It offers colourful views across the tennis court towards Vaucluse Bay. 
The window is a two-metre by eight-metre stained-glass feature window behind the main staircase.
<img src="/images/stories/2012/09/lochmaree2.jpg">
It was undertaken by Leonard French in a similar style to his windows in the Arts Centre of Victoria and the Australian National Library.
There are several other smaller complementary stained-glass windows throughout the now contemporary house.
An update – the only one since its original incarnation in the late 1970s – was undertaken for the current vendors, the Saville family.

<img src="/images/stories/2012/09/lochmaree.jpg">
It was Gordon Barton, the late business entrepreneur, who had the 1970s house built - with stone floors quarried from a 14th-century convent in France by Burgundian monks - along with the Leonard French stained-glass feature windows.

The cul-de-sac residence on a 2311 square metre block comes with self-contained boathouse with slipway.

It's been offered by Michael Pallier at Sydney Sotheby's International Realty in conjunction with <a href="https://bradfieldcleary.com.au/3289276/1A-Loch-Maree-Place-Vaucluse">Bob Guth at Bradfield Cleary</a>.
It last traded at $4.75 million in 1993 when bought from Gordon Barton, the entrepreneur who started Interstate Parcel Express Company (IPEC) while still <a href="https://en.wikipedia.org/wiki/Gordon_Barton">studying at university</a>.
It was listed in the early 1990s after Gordon Barton and his wife, Mary Ellen, decided to remain and retire in Europe.
<img src="/images/stories/2012/09/maree2.jpg">
The original Loch Maree – which up to the 1950s had been a private girls' school that once hit the headlines when a raw milk enteritis scare broke out – changed hands when society photographer Joe Fallon purchased the site. 
Fallon's visitors to the then house included Prince Philip, whom he'd met in 1946 as a naval officer.
Prince Philip occasionally visited the historic limed-redwood boathouse situated next to the now heated harbour's edge pool. 
<img src="/images/stories/2012/09/maree3.jpg">
The Sydney Morning Herald reported two unofficial visits by Prince Philip to Fallon's house in 1954.
On one, he slipped out of Government House to a private pool-side party, where "a gramophone played Hawaiian music" and 50 guests danced until 11pm. Kitty Kelley's controversial book The Royals mentioned Prince Philip's visits.
Fallon later subdivided the property and sold a large waterfront to the diamond merchant Albert Joris. Joris in turn sold it to Gordon Barton in 1966, who remained in Morella Place, Castle Cove, until the Michael Dysart-designed residence was completed in 1972 at a cost of $280,000. They Barton couple moved into the boatshed when they renovated the big house.
"It had a beautiful boatshed which had a magical quality," Mary Ellen Barton recalled in the late 1990s. 
"It was the perfect love nest. Gordon and I moved in there when we renovated the big house and rather wondered why we weren't living in it permanently," she said.
In the 1970s the Fallon main house, which had been bought by Barton from Fallon's widow, Desiree, disappeared.
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Leonard French windows at Vaucluse's Loch Maree: Title Tattle

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It is getting easier to believe that the US economy is poised for a decent recovery and that growth could even be strong in 2013. A key reason for what is finally an optimistic outlook is housing.
The run of recent housing data is pointing to a convincing upswing with prices, new activity and builder confidence all rising. Low interest rates – supported by almost four years of the Fed’s zero interest rate policy and now three rounds of quantitative easing – are clearly key drivers of this upswing, but the US is also assisted by very favourable demographics that includes annual population growth of around 2.5 million people.
Until 2007, the US was in the middle of a housing construction boom to the point where there was a horrendous glut of unsold houses on the market. It was inevitable that a housing construction downturn would occur, but that fall was compounded by all the ills in the banking sector and a sky-rocketing unemployment rate.
From peak levels, house prices in the US fell by around 35% – in some states, the falls were more than 50%. The number of housing starts reached a peak annualised level of around 2 million in the period 2004 to 2006, but then fell by around 80% to a level below 500,000.
A widely watched survey of home builders confidence fell from 65 points to a low of 13, with readings above 50 consistent with expansion in the sector. Housing construction as a share of GDP fell from a peak around 6% in 2007 to an all-time low to be just over 2% now.
It was a disaster and the housing depression was perhaps the most obvious symptom of the US recession.
This housing slump caused the banks to lock in large losses as foreclosures escalated. In addition to losing money that prompted the partial nationalisation of many of the “too big to fail” institutions, the banks went on a lending freeze, unwilling to add more risky mortgages to their already damaged balance sheets.
Those home owners who did not hand back their keys to the bank were left with negative equity in their houses, and this wealth destruction and job insecurity caused consumer spending to remain subdued.
That’s the bad news that appears to be slipping back in history.
 
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Since early 2012, the signs that housing is turning higher are convincing.
 
House prices are around 6% above their lows. Home builder confidence has more than trebled, and new housing starts are 50% above the recent lows. There are also signs of a higher housing demand, with turnover of established dwellings rising to a two-year high.
There is now a real prospect that the housing oversupply and glut will be rapidly reduced and it is now on the cards that in some states at least, there will be a housing shortage.
In the last four years, the population of the US has risen by around 11 million people to over 314 million. In that time, there have been around 2.5 million new houses built, including rebuilds. Working on the latest US census estimate of 2.6 people per house, the growth in population means there has been demand for 4 million houses.
A large part of this extra demand was met from the prior oversupply, but it now it is increasingly clear the supply and demand dynamics are close to equilibrium.
With population growth still running along at 2.5 million per annum, housing starts need to pick up to at least 1 million to satisfy new demand. So far in 2012, new housing starts have been running at an annualised pace of around 730,000, so construction is still shy of what it needs to be.
If, or rather when, housing starts lift to 1 million or even a little more, housing construction will make a valuable contribution to the return to solid growth.
The markets seem to be convinced that this is the case, with the US S&amp;P 500 index up a thumping 30% since July 2011 to be just 5% from reaching a new record high. According to Bloomberg, the sub-index of home builder shares has risen 77% since the start of the year, reflecting the recovery in housing.
With the Fed committed to keeping its policy rate at zero until 2015 and targeting mortgage backed securities in its third round of QE, it is easy to be optimistic that this time, the recovery in housing is real. If it is, an era of rising house prices and higher new construction can help return the US economy to a path of decent economic growth.  It looks like 2013 will be a year of solid growth in the US, with housing leading the way.
This article originally appeared on<a target="_blank" href="https://www.businessspectator.com.au/"> Business Spectator.</a>
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US economy poised for recovery, led by turnaround in housing: Stephen Koukoulas

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Agents are still to secure any sale of the three campuses of Mowbray College, the Melton school in administration with $18 million of debts.
Fitzroys Agent, David Bourke, says there has been strong interest from education providers during the expressions of interest campaign which ended on September 14.
Bourke is selling the three campuses, two in Caroline Springs and one in Melton, along with CBRE agents Scott Orchard and Clinton Ramm.
Bourke says potential buyers were looking at purchasing the campuses in one line and individually.
“A number of parties have been shortlisted and we will be progressing this interest to formalise the sale of the campuses over the coming weeks,” Bourke says.
The campuses were <a href="https://www.propertyobserver.com.au/news/mowbray-college-in-melbourne-s-west-listed-for-sale/2012081956040">listed for sale in August</a>.
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Mowbray College offers under consideration

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Darwin continues to be the standout market among the capital cities, with compelling statistics on vacancies, rents and prices. 
I tend to see Darwin more as a regional centre than a capital city. Its size and function mark it one of the regional boom towns – which is where the real estate action is now and, I believe, in the future. 
Our big cities are showing signs of stabilisation and gradual recovery, but the most dynamic of our regional centres are pumping strongly – and Darwin is part of that scenario. 
On Monday <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/property-investors-will-thrive-in-areas-benefiting-from-lng-boom-terry-ryder/2012091856636">I wrote that the core of the resources revolution and consequent real estate growth is not iron ore or coal, but gas.</a> The growth in Darwin is exhibit A in my argument. 
The Northern Territory is evolving into a gas hub of international significance. It started with the establishment of the ConocoPhillips LNG plant six years ago and will take another stride with the Ichthys gas project. This $34 billion enterprise will extract gas off WA but process it in Darwin.
At the same time, the territory government has sought companies to build and operate a marine supply base in Darwin. The base will be developed next to East Arm Wharf, and many of the companies based at the site will serve the oil and gas industries in the Timor Sea.
The supply industry is already worth $150 million a year to territory business and is expected to grow strongly. The giant Bayu-Undan gas field is largely serviced from Darwin, and Woodside’s Sunrise floating platform will use the city for food, maintenance and transport. By the time Ichthys is operational in 2016, the supply industry in Darwin will be a multibillion-dollar business.
Paul Henderson, who was chief minister before being tipped out at the recent election, said: "The offshore gas industry is expected to be the biggest driver of NT's economy over the next 40 years."
As an aside, Charles Darwin University is spending $6 million on an oil-and-gas research and training centre at its Casuarina campus in Darwin. An agreement to set up mining academies in the territory was signed in March 2012. 
It’s estimated the territory will need 6,000 additional workers in the next five years to meet demand from mining and gas companies.
The Port of Darwin is rising in importance, due to the increased exploitation of petroleum in the Timor Sea, the evolution of the LNG industry and continued expansion in trade with Asia. Darwin’s proximity to Asia makes it a key Australian gateway to countries such as Indonesia.
We’re already seeing the impact of all this in the real estate figures. 
Darwin has very low vacancies. “With a current vacancy rate of 0.5% (total of 114 vacancies) it is fair to assume that the city is continuing to show all the symptoms of a severe rental crisis,” says SQM Research managing director Louis Christopher. 
The previous over-supply of apartments in Darwin has been soaked up by the market. 
This correlates with other data, such as the rental report from Australian Property Monitors, which finds Darwin is experiencing strong growth in rents for both houses and units, well ahead of other capital cities. The median house rent grew 18% in the 2012 financial year, giving Darwin by far the highest house rents (the median is $650 a week) among the state and territory capitals. It also has the highest median unit rent ($500 a week), after 11% growth in the 2012 financial year. Perth is the only other capital city producing strong rental growth at present. 
The latest RP Data-Rismark home value index report shows that the Darwin index for all dwellings has recorded an 8.4% rise so far this year, including 5.2% in the three months to the end of August. None of the other state and territory capitals comes remotely close to these growth numbers. 
The value index for houses has increased 7.7% so far this year, and the value index for units has risen 11.4%. 
As Darwin continues evolving towards a gas hub of global importance, led by Ichthys, demand for residential accommodation will continue to rise. Who knows what the numbers will be a year from now.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
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Darwin a standout market for property investors: Terry Ryder

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Mosman's historic Musgrave House has been listed for sale with $10 million-plus hopes through Darren Curtis at Christies International.
The sandstone mansion dates back to the 1880s. It currently sits on a 1,840-square-metre holding of beautifully landscaped grounds designed by Paul Bangay.
Set above Mosman Bay, the house has been fully restored by the current owners.
{yoogallery src=[images/stories/2012/09/sept20msomanout]}
Four of its six bedroom have ensuites.
The estate was once leased to the international singing star Diana Ross during her late 1980s tour. 
In 1990 it was subject to a high-profile court case when the prominent orthopedic surgeon John Bannister took Supreme Court proceedings against his defaulting $9.75 million purchaser, the bankrupt businessman Kahlil Piscopo.
At the time it had been combined with a 1,000-square-metre McLeod Street waterfront holding.
Bannister had bought Musgrave House in 1976 for $40,000 and then paid $2 million in the late 1980s for the adjoining property providing waterfront access.
<a href="https://www.propertyobserver.com.au/new-south-wales/john-james-sydney-school-mosman-harbourfront-listed-but-without-heritage-protection/2012083056330">Neighbouring property </a> is currently for sale.
Inside pictures on page 2
 
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{yoogallery src=[images/stories/2012/09/sept20mosmanin]}
The Mosman prestige residential market got some recent momentum when the Macquarie Bank boss Nicholas Moore and wife Helen secured a $13 million contemporary home on Middle Harbour, having lived elsewhere in a Federation Mosman house that cost just over $1 million in 1991.
Their new home had been <a href="https://www.propertyobserver.com.au/new-south-wales/after-three-years-on-market-mosman-house-sets-shellbank-avenue-price-record/2012081756092" target="_blank">on the market</a> for three years. Shane Smyth, CEO of Cover More Insurance, was the seller, having renovated after paying $9.2 million in 2007, and then listing it with $14 million-plus hopes.
Property Observer revealed earlier this year <a href="https://www.propertyobserver.com.au/new-south-wales/chinese-buyers-playing-property-pick-a-box-but-record-mosman-price-unlikely/2012030653723" target="_blank">it was a Chinese buyer who topped recent Mosman sales</a>.
It was the $20 million sale of the home of the retired car dealer Laurie Sutton, at 5,154-square-metre on Bay Street it also ranked as the suburb's largest harbourfront estate. It was bought by Ying Li.
Mosman’s first big test in 2012 <a href="https://www.propertyobserver.com.au/new-south-wales/bankers-are-supposedly-bailing-but-mosmans-mandolong-house-reputedly-sells-for-bullish-%2418-million/2012031853893" target="_blank">came with the sale of the 1885 Mandolong House</a>, the renovated hillside residence listed with $17 million reported hopes – which sold for $18 million and represented a suburb-record price for a non-waterfront residential property.
The Mandolong Road property situated in a 2,909-square-metre location high on the slopes of Balmoral with a north-south tennis court and swimming pool was sold by the Woollahra-bound businessman Barry Roberts-Thomson and his wife, Victoria. It was bought by the Kahlbetzer pastoralist family.
Last year’s top Mosman sale was the $19 million sale of a Hopetoun Avenue waterfront property to neighbour <a href="/news">Ros Oatley of the Oatley wine family</a>. Its price reflected a serious price weakness, since it had traded at $22.5 million in pre-global financial crisis 2007.
Ros Oatley recently lodged plans with the council  to utilise the extra space with a small single-storey addition to her own home, including a new dining room, along with a pool and landscaping, plus a sprawling lawn.
It came with a $2 million development application price tag.
Oatley had bought her existing home, Rivendell, a mansion complete with tennis court and pavilion, for $15.5 million in 2001 through Richardson &amp; Wrench.
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Musgrave House in Mosman listed with $10 million-plus hopes

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<h2>Milton Cockburn: Don’t let the REIA’s self-interested assertions torpedo important agent licensing change</h2>
It is now clear that the Real Estate Institute of Australia, and its various state bodies, intend to torpedo the proposed national licence for real estate agents. The REI has made false claims of a “dumbing down” of educational standards; silly demands for a diploma level of education; and misleading assertions about the consequences of removing licensing requirements for commercial agency work. Despite the REI claiming that it “supports national licensing” it is now obviously bent on derailing this vital COAG initiative, instead of constructively responding to the <a href="https://nola.gov.au/files/2012/08/Property-Occupations-Regulation-Impact-Statement1.pdf" target="_blank">regulation impact statement</a> (RIS).
Unfortunately, while most industry associations regard the removal of unnecessary “red tape” as a major objective, some associations are secretly happy with government regulation. Such regulation erects barriers to entry to their industry and therefore reduces competition within the industry. Regulation, in the form of compulsory licensing and continuous professional development, also provides a handy income stream for these industry associations and for their training providers (which are often one and the same). The REI has been a beneficiary of both outcomes, and these are now under threat. The REI’s self-interest, however, must not be allowed to dictate the national interest.
The REI claims the educational requirements of the proposed national licence, which were determined by an industry/government working group, are a “dumbing down” of educational standards. What it hasn’t revealed is that the REI had three members on this working group – far more than any other organisation – and these representatives all signed off on these requirements. The educational qualifications for the proposed national licence are the same level of qualifications currently required for real estate agents in Queensland, NSW and Victoria, where more than 80% of real estate agents practice. Can anyone recall the REI previously suggesting that real estate agents in NSW, Queensland and Victoria were under-qualified (“dumb”?) compared with their counterparts in SA and WA? Of course not! In its desperation to sink the reforms the REI is sprouting nonsense.
What about its claim that the proposed removal of licensing for commercial agency work will leave the consumer unprotected and that “16-year-olds” will be able to sell commercial property? Let’s leave aside the fact that the existing real estate licence (as well as the proposed national licence) doesn’t teach the holder anything about commercial property, since it is overwhelmingly oriented to residential property.
The REI also ignores the fact that the “consumer” being supposedly protected by a licence is not the “man in the street?. The consumers are the owners of commercial real estate, and these are businesses (often very large ones), or business people, who have selected their own managers (agents) and who have the protection of an enforceable management agreement (contract), as well as commercial recourse, if the transaction goes wrong. They do not need, or want, taxpayers’ money being spent to protect them. Of course there are occasional risks in commercial real estate transactions, just as there are risks in any business transaction, but in a market economy this does not necessarily mean such transactions should be regulated by governments (through licensing and compliance with estate agents’ acts).
This is “nanny state" thinking. In any event the RIS, after surveying the state regulatory authorities, could find no evidence of significant risks warranting regulation at either the higher end or the lower end of the commercial property industry. All that licensing and regulation does for commercial property owners is impose unnecessary costs on managers (which are inevitably passed back to the owner) and restrict their ability to negotiate optimum arrangements with other property managers (such as solicitors or accountants).
The national licensing system (for a range of occupations, not just real estate agents) will improve workforce mobility, reduce business costs and boost national productivity. The RIS states removal of licensing will save commercial property owners up to $2.37 million a year, a considerable underestimation. The REI’s false and self-interested assertions must not be allowed to jeopardise this very important microeconomic reform.
Milton Cockburn is executive director of the <a href="https://www.scca.org.au/" target="_blank">Shopping Centre Council of Australia.</a>
Pamela Bennett of the REIA responds on page 2
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<h2>Pamela Bennett: Skilled agents key to consumer confidence in real estate</h2>
The Real Estate Institute of Australia (REIA) rejects outright claims made by Milton Cockburn of the Shopping Centre Council of Australia that it is trying to “torpedo” COAG’s national licensing plan for real estate professionals.
With all due respect, <a href="https://www.propertyobserver.com.au/industry-news/dont-let-the-reias-self-interested-assertions-torpedo-important-agent-licensing-changes-milton-cockburn/2012091856640" target="_blank">Cockburn is misinformed, pure and simple.</a> We do support national licensing, but we are determined to look after Australian property consumers by fighting for the highest possible standards across the board.
The REIA representatives involved in the Property Occupations Interim Advisory Committee (POIAC), prior to the release of the regulation impact statement (RIS) on national licensing, argued for diploma-level qualifications.  The rest of POIAC settled for lower qualifications.  The REIA argued for compulsory professional development to keep the profession up to date but again, the rest of POIAC did not.  The steering committee, compiled of state and Commonwealth regulators, not POIAC, made the final decision.
Diploma-level qualifications, currently in four states and territories, are desired by our members nationwide.  Real estate agents are proud of their profession and the important service they provide to the Australian public, and they want to grow their reputations, not go backwards.  Real estate institutes do not think it is “silly” to be highly qualified.
With regards to commercial property, agents are currently licensed, but the proposed regulations would strip that away.   This leaves the consumer completely vulnerable.  Quite literally, anyone could sell commercial property.  Yes, even a 16-year-old.
POIAC did support licensing of commercial property agents.  A hurdle of $100 million was suggested at the time, but again, the steering committee made the final decision to deregulate commercial property transactions.
Contrary to what some may think, most commercial property sales are under $500,000. In Victoria 51% are under $500,000, so we are not talking the big end of town.  We are talking about “mum and dad” investors who invest in commercial property, either directly or through superannuation funds, and they should have the security and peace-of-mind of having a licensed agent manage their transaction.
For example, the owner of a family sandwich bar in the food hall of a shopping centre wants to sell. In the absence of a licensing regime for commercial sales that provides the consumer with information as to who has the appropriate qualifications and insurance coverage to handle such a complex transaction, the vendor would be vulnerable to anyone who wants to deal in commercial transactions without any qualifications.  On top of this, both parties would take a huge financial risk with their life savings.
I’m quite stunned at how the consumer point of view has been left out of the calculations in the RIS and that the process has been driven by regulators who are not experts on the real estate profession. Their proposals, if implemented, will be detrimental to consumers. The RIS on national licensing states that deregulating commercial property will save a comparatively small $2.37 million.  What this figure does not take into account are consumer costs.
The REIA is also concerned with the proposed deregulation of rural property.  Not all rural property is like Cubbie Station.  In Victoria in 2011, 76% of farms were sold for under $500,000.
The Real Estate Institute of Australia will continue in its endeavours to achieve outcomes that will provide for a national licensing system that supports high standards and not those of the lowest common denominator.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
 
 
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Room for debate: Should commercial real estate agents be licensed?

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Long-established horse riding school Samarai Park in Terrey Hills, NSW, has been listed by LJ Hooker with a $3 million price guide.
Located at 90 Booralie Road Terrey Hills, just 20 minutes from the Sydney CBD, Samarai Park offers expansive northerly bushland views over its two-hectare holding.
The horse riding school opened in 1956 and still offers agistment, lessons, riding camps and children’s birthday parties.
Samarai Park was founded by Thelma Budrodeen.
Her most prized assistant was the white Arab-Crossed horse named Bell Boy who was used to teach children to ride.
Samarai Park was the first registered riding school with the Equestrian Federation of Australia (EFA), and Budrodeen received a Medal of the Order Award (OAM) for her charity work with the Riding for Disabled Association.
The property was sold by the Budrodeen family in 1998 for $1.25 million, with it onselling again in 2000 at $1.6 million.
Samarai Park is now owned by the Frawley family, who bought the park in 2007 for $3.28 million.
It still operates as a riding school and offers boarding for horses for $235 per week. Float storage is also available for an extra $15 per week.
Samarai Park is centred close to the Ku-ring-gai Chase National Park, with direct access to national park riding trails.
The property comprises of an office and shops, staff quarters/self-contained flat, two full-size dressage arenas and a full-size jumping area with lighting.
Samarai Park has 33 stables, 24 day yards, tack, feed and storage rooms, a lunging area, wash bays and three work sheds plus a dam.
The three-bedroom home located on the property consists of a study, two bathrooms and an outdoor swimming pool. The outside parking accommodates for 20-plus vehicles.
Despite the increased residential density in the district, Property Observer looked at six riding schools operating nearby in the mid-1980s and found that four are still operating today.
Boonaroo Riding Club in Terrey Hills has since changed its name to Green Fields Equestrian Centre, but Otford Valley Farm, Palomino Corral Riding School in Belrose and Scenic Hills Riding Ranch in Ingleburn are still operating under their original names.
Jackeroo Ranch in Kenthurst is no longer operating after a bushfire in 2002 ripped through the property and destroyed the ranch. Jackeroo Ranch was a respected tourist facility established in 1961, and the iconic house on the property was used in the pilot for the television series Home and Away. Wayandah Riding School in Ingleside has since closed down.
Many of the districts horse related proeprties participate in The North Shore Horse and Pony Association, which was formed in 1975 to ensure that horses and horse-riding activities continue to form a vital part of the community.
Samarai Park has been listed for sale by Kevin Packham from LJ Hooker Terrey Hills.
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Samarai Park riding school on Sydney's outskirts listed

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The Real Estate Institute of Australia (REIA) rejects outright claims made by Milton Cockburn of the Shopping Centre Council of Australia that it is trying to “torpedo” COAG’s national licensing plan for real estate professionals.
With all due respect, <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/dont-let-the-reias-self-interested-assertions-torpedo-important-agent-licensing-changes-milton-cockburn/2012091856640">Cockburn is misinformed, pure and simple.</a>  We do support national licensing, but we are determined to look after Australian property consumers by fighting for the highest possible standards across the board.
The REIA representatives involved in the Property Occupations Interim Advisory Committee (POIAC), prior to the release of the regulation impact statement (RIS) on national licensing, argued for diploma-level qualifications.  The rest of POIAC settled for lower qualifications.  The REIA argued for compulsory professional development to keep the profession up to date but again, the rest of POIAC did not.  The steering committee, compiled of state and Commonwealth regulators, not POIAC, made the final decision.
Diploma-level qualifications, currently in four states and territories, are desired by our members nationwide.  Real estate agents are proud of their profession and the important service they provide to the Australian public, and they want to grow their reputations, not go backwards.  Real estate institutes do not think it is “silly” to be highly qualified.
With regards to commercial property, agents are currently licensed, but the proposed regulations would strip that away.   This leaves the consumer completely vulnerable.  Quite literally, anyone could sell commercial property.  Yes, even a 16-year-old.
POIAC did support licensing of commercial property agents.  A hurdle of $100 million was suggested at the time, but again, the steering committee made the final decision to deregulate commercial property transactions.
Contrary to what some may think, most commercial property sales are under $500,000. In Victoria 51% are under $500,000, so we are not talking the big end of town.  We are talking about “mum and dad” investors who invest in commercial property, either directly or through superannuation funds, and they should have the security and peace-of-mind of having a licensed agent manage their transaction.
For example, the owner of a family sandwich bar in the food hall of a shopping centre wants to sell. In the absence of a licensing regime for commercial sales that provides the consumer with information as to who has the appropriate qualifications and insurance coverage to handle such a complex transaction, the vendor would be vulnerable to anyone who wants to deal in commercial transactions without any qualifications.  On top of this, both parties would take a huge financial risk with their life savings.
I’m quite stunned at how the consumer point of view has been left out of the calculations in the RIS and that the process has been driven by regulators who are not experts on the real estate profession. Their proposals, if implemented, will be detrimental to consumers. The RIS on national licensing states that deregulating commercial property will save a comparatively small $2.37 million.  What this figure does not take into account are consumer costs.
The REIA is also concerned with the proposed deregulation of rural property.  Not all rural property is like Cubbie Station.  In Victoria in 2011, 76% of farms were sold for under $500,000.
The Real Estate Institute of Australia will continue in its endeavours to achieve outcomes that will provide for a national licensing system that supports high standards and not those of the lowest common denominator.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
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