International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

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Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

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Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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<img src="/images/sponsored/inside-the-market-series/Brought-To-You-By-Mozo.jpg" height="50px">
It’s a big commitment, so it’s best to go in eyes wide open with all the facts
A home loan is one of the most serious investments a person can make.
While online rate comparison tools have made looking for a loan easier than ever, it still takes time to work out what the best option is for you. Here are five expert tips to ensure you are on track.
<h3>1. Know what you can afford</h3>
Interest rates may be low at the moment, but will you still be able to afford the repayments once they begin to rise?
The interest rate is by far the biggest cost of a home loan. As a rule of thumb, an interest rate difference of 1% will increase the annual cost of servicing a typical $300,000 loan by around $2,000.
Kirsty Lamont, a director at mortgage comparison website <a href="https://pubads.g.doubleclick.net/gampad/clk?id=136265697&amp;iu=/109628257/click_tracker" target="_blank">Mozo.com.au</a>, says that when you’re calculating how much to borrow, don’t use current interest rates.
“Consider what will happen down the track when interest rates go up 1% or 2% percentage points or more,” says Lamont.
“Do your calculations by including a buffer to make sure you can still afford to maintain your repayments if rates do rise a couple of percentage points.”
<h3>2. Do your research</h3>
Finding the best home loan can often come down to making sure you do your research on the options available and choosing wisely, says Lamont.
Picking the wrong home loan could cost you tens of thousands of dollars in extra interest and fee charges. The home loan experts at Mozo have crunched the numbers and found that on a typical $300,000 home loan, the difference between the cheapest and most expensive home loans on the market adds up to over $4,000 each year in extra costs. Over 10 years that totals a whopping $40,000.
“These days it’s easy to research home loans online and with comparison sites like Mozo you can literally compare the market at the click of a button so use technology to your advantage,” she says.
<h3>3. Consider your individual circumstances</h3>
While you’re conducting research, make sure you consider your individual circumstances, says Steve Jovcevski, a property investment expert and home loan negotiator with Mozo.com.au.
Consider whether you would like an interest only loan, or a principal and interest loan.
“If you want an interest only loan where you make interest only payments at a low rate, make sure the loan-to-value ratio covers off that rate,” says Jovcevski.
<h3>4. Understand comparison rates</h3>
Borrowers need to check their loan is competitive on the fee front. The average upfront fee you will pay is $500, but some of the best value loans on the market have no application fees at all.
It’s also becoming more common for lenders to waive the application fee if you put pressure on them.
The comparison rate is a government-mandated calculation that includes the interest as well as the loan’s main fees and charges in the one rate and hence more accurately reflects the true cost of a mortgage.
“If you’re searching for something as important as a mortgage, and a comparison rate gives you a chance to level the playing field, you really must pay attention,” says Mark Bouris, executive chairman of wealth management company Yellow Brick Road.
“Because all lenders have to use the same formula, the result gives a borrower the means to compare the true cost of a loan before they commit to it, and it gives some reality to the headline interest rate.”
<h3>5. There’s a lot more than the Big Four</h3>
The big banks and other major lenders commonly charge annual ‘package’ fees of between $200 and $400 a year for a discounted home loan package.
These sorts of packages can offer substantial discounts on the lender’s standard interest rates, particularly if you’re borrowing a large amount, but it always pays to compare package deals against the top low-rate loans from smaller lenders like loans.com.au and uBank to see if you can get a comparable rate without the hefty annual package fees.
For information on property loans, rates and more, visit Mozo.com.au or <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/42368-get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook" target="_blank">click here</a> for the free Property Observer eBook, Get loan-savvy – tips for a first time, investment or refinancing loan, which helps you decide on a home loan that meets your requirements.
 
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Five expert tips on getting the best loan

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<img src="/images/marketing/first-time-investor-series/Brought-To-You-By-RAMS.png">
When lenders work out your borrowing capacity for an investment property, they take into account rental income and your claimable expenses to see your capacity to repay the debt.
Rental income is considered income much in the same way as your salary.
However, lenders do not take 100% of the gross rental income expected into account. While it varies from lender to lender, the general rule is that 80% of rent will be calculated into the equation. Some take as low as 70% into account. This is largely due to letting periods, associated costs such as repairs and any vacancies that may occur.
While it’s less common, some lenders are known to consider rental yields instead. Another point worth remembering is that some banks, will allow you to live in the house with the intention of leasing out individual rooms, and may take this income into account.
Some banks have been known to consider up to 100% of the rental income, however there are usually a number of other hoops to jump through to achieve this, such as an 80% or lower Loan to Value Ratio (LVR) and a maximum amount of total loans with that lender.
If you become “rent reliant” – where a certain portion of your income is made up by rent – then you may start to see yourself declined by some lenders.
Banks usually use rental income confirmed through a valuation. It can assist to provide a managing agent’s rent assessment on the property with your loan application.
For help getting started in property investment, speak with a RAMS home loan specialist and pick up your free <a href="https://crtl.aimatch.com/pm/adclick/FCID=2756/size=1x1/viewid=1/random=1/relocate=https://www.rams.com.au/investor-pack/" target="_blank">RAMS Investor Pack.</a>
Follow RAMS on <a href="https://crtl.aimatch.com/pm/adclick/FCID=2766/size=1x1/viewid=1/random=1/relocate=https://www.facebook.com/raymondaram" target="_blank">Facebook</a>, <a href="https://crtl.aimatch.com/pm/adclick/FCID=2767/size=1x1/viewid=1/random=1/relocate=https://www.twitter.com/RAMS_AU" target="_blank">Twitter</a> and <a href="https://crtl.aimatch.com/pm/adclick/FCID=2772/size=1x1/viewid=1/random=1/relocate=https://www.linkedin.com/company/rams" target="_blank">LinkedIn</a>
Disclaimer: Information in this material in general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.
The taxation positions described are general statements and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation.
<a href="https://www.rams.com.au/home-loans/" rel="nofollow">RAMS Financial Group</a> Pty Limited does not endorse or assume any responsibility for the advice, content or services provided by Property Observer or any other third party referred to in this material.
RAMS Financial Group Pty Limited ABN 30 105 207 538 AR 405465 Australian credit licence 388065. Credit provider and issuer of RAMS deposit products: Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
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What rental income percentage is taken into account when lenders work out lending potential?

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<img src="/images/marketing/sponsored-post/Brought-To-You-By-REV3.jpg" width="444">
House and land packages are growing in popularity, not just for home buyers but among property investors.
There is something exciting about a new home.
Industry-run property portal realestateVIEW.com.au has recently launched new features to assist in the challenge of choosing from the hundreds of packages on offer, partnering with houseandland.com.au.
The new house and land section allows buyers to explore land estates and house and land packages, with location, price, builders, designs and materials all in the mix to help buyers secure the best possible outcome.
Property Observer spoke to realestateVIEW.com.au general manager Petra Sprekos and houseandland.com.au director Mark Shearer about why buyers might consider house and land packages, and how to make an informed decision.
{qtube vid:=VptIR3TuXk0}
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jonathanchancellor-7SQnKwU6yx

Two childcare centres see strong bidding at Burgess Rawson auction 

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Three medical centres went under the hammer at Burgess Rawson's 100th portfolio auction, with yields in the 5-6% range.  
The property at 1, Nettleford Street in ACT's Belconnen is leased out to Top 100 ASX-listed Primary Health Care Ltd and netted $8.65 million.  
It was second on the auction list and opened with a bid of $6.5 million.
The building spans 1,725 square metres and is fitted out with treatment and x-ray rooms, dental surgery and a pharmacy.
The land area is 9,706 square metres with parking space for 60 cars.
The asset's annual net income is estimated at $483,346, translating to a yield of about 5.6 percent. The rent increase is 3 percent.
The lease was recently renewed for 10 years with a five-year option expiring in early 2030.
The tenant pays all outgoings, including management fee.
Belconnen suburb has a population of 95,000 and growing.
The other two medical centres auctioned were in the suburbs of Sydney.   
The first, in Dee Why, is leased to PRP Diagnostic Imaging, and fetched $2.9 million.
The 5&amp;6/812 Pittwater Road property is set on 417 square metres, with a lease that expires in 2020.  
Set in the Northern Beaches, the property has prominent exposure to a six-lane arterial road.
The estimated net income is $195,132 per annum, with the yield working out to 6.7%.
PRP pays all outgoings, including management fee.
The annual rent increases to greater of CPI or 4%.
The property at Hawkesbury Road in Westmead is leased out to ASX-listed Laverty Pathology and was the centre of much drama at the auction.
Bidding started at $1.2 million and each time the hammer was about to strike, a fresh offer was made. This went on for at least five times until the hammer finally came down at $1.815 million. 
The pathology centre at Unit 6 of 151-155 Hawkesbury Road is leased out until 2019 end.
This medical centre is spread over 133 square metres of space and is part of a building occupied by medical specialists.
With an estimated annual net income of $107,780, the yield works out to around 5.9 percent.
The lease comes with annual CPI rent increases.
Laverty Pathology serves more than 4 million patients every year. 
All the properties were sold by Darren Beehag and Dean Venturato.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years. fro more information, <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
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Three medical centres sold under the hammer

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An investment property leased to fast-food giant McDonald’s at Norlane in North Geelong fetched $3.05 million at Burgess Rawson's portfolio auction.
Twelve bidders went head to head for the property at the $35 million auction, pushing the yield down to 3.7 percent.
Reflecting strong investor appetite for blue-chip assets on long leases, 400 Melbourne Road was expected to go for more than $2,000,000.
“The low, affordable rental of $117,434 per annum reflects the property being subject to a ground lease with McDonald’s owning the building and all other above ground improvements” said Raoul Holderhead, managing director of Burgess Rawson ahead of the auction.
“With McDonald’s having re-built the building in 2003 and in recent years adding a McCafe, it is safe to say McDonald’s plan is to stay.” 
The lease is for 5 years plus 20 years of options through to 2038 with rental reviews annually to CPI and to market, the next due in 2018 upon the exercise of option.
<a href="https://www.burgessrawson.com.au/3P1137#.ViSSoLSqqko" target="_blank">The 3,277 square metre </a>site with 48 onsite car spaces is almost double that of a normal fast-food outlet.
"The busy and proven location is evident by some 37,000 cars passing the property each day," he said.
The site has been a McDonalds since 1980.
Greater Geelong is a growing regional city of 220,000 plus, predicted to double by 2050, according to the G21 Regional Growth Plan.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years. fro more information, <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
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j.ballantyne1990-6AQqhLzZaK

North Geelong McDonald's reaps $3 million at auction

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The Woolworths supermarket at Dural sold under the hammer for $19.65 million at Burgess Rawson's 100th portfolio auction.
It was bought by a local investor who shops at the store.
<a href="https://www.burgessrawson.com.au/buying/NSW/Hills/Dural/Retail/3P1167#.ViWpM94bSZx" target="_blank">The 508 Old Northern Road store</a> is currently on a 20-year lease to 2023 with options to 2053.
Located in Sydney's north western growth corridor, the supermarket is spread across 4,356 square metres. 
Its annual rent is $1,102,900, reflecting a yield of about 5.6 percent.
It was expected to sell circa $17,000,000.
It has 200 car parks.
The tenant pays all outgoings, including land tax as per lease.
The property was sold through Graeme Watson and Simon Staddon.
The agents noted this was a supermarket on an "old fashioned net lease," with the tenant paying outgoings that neither Coles nor Woolworths no longer agree to.
It was marketed as presenting not only as a rare investment opportunity but also a secure one.
Set 32 km from the centre of Sydney, it adjoins Dural Mall, a shopping centre with numerous specialty shops, all adding to Dural’s strong overall customer draw.
The Burgess Rawson agents fielded more than 100 inquiries leading up to the auction. The vendor was a Melbourne private investor who sold the Dural property for "family reasons."
Burgess Rawson is a leading investment sales specialist, pioneers of the portfolio auction system, which celebrated its 100th auction this October.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.
For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
 
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Dural Woolworths store sells to local for $19.65 million at Burgess Rawson auction

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SPONSORED POST
Australia definitely is the place to be right now. Pretty much every state and territory in Australia appears to be enjoying steady property growth.
The apartment market is rising and developments are selling out before they’re even built. The low density residential markets in the middle and outer suburbs too are enjoying solid growth.
With property doing well in Australia, you’d think it’s the perfect time to buy, but it’s proving to be probably the hardest it has ever been for first time Aussie investors to enter the market. Banks are asking for bigger deposits, interest rates are on the down turn, and first home buyer grants are only for those first time buyers that want to live in their homes. The question many of us ask is; “Is the government doing anything to help first time investors in Australia?” 
The answer is yes, and they did it 3 decades ago. The introduction of negative gearing and the golden gem that is Property Tax Depreciation, gives investors the chance to reduce the after tax cost of their investment, increase their cash flow all while having a property asset appreciate.
Property Tax Depreciation can be an excellent way to make negative gearing work in your favour. Current interest rates, and a competitive rental market make it very easy for a negatively geared investment to become positive. Positive is good – except for the additional burden of a tax bill!
Understanding your property investment, and the cost of it before you buy is prudent, and knowing the available property tax depreciation can, if anything boost your potential buying power. That extra $10-15k of deductions can make a huge difference in the property game.
Knowing how property tax depreciation works is pivotal when making your first property investment, or any property investment for that matter. As property tax depreciation diminishes over time, the older the property, the less property tax depreciation there is going to be available. One might say it’s always wiser to purchase newer property – this ensures you’ll be able to claim the maximum available property tax deprecation, putting more in your pocket during the life of your investment.
So you’ve bought your investment? Then we come to the harder part – who do we trust? Who do we go to, to ensure we have a maximised property tax depreciation schedule?
In the eighties when residential property tax depreciation was introduced to the Australian taxation system, there was only one company that people turned to; Napier &amp; Blakeley.
Napier &amp; Blakeley were the first professional company to provide residential property tax depreciation advice, and over three decades on, they’re still the market leaders and still providing that same trustworthy advice through NBtax. NBtax is a division within Napier &amp; Blakeley that concentrates purely on the residential property depreciation market.   
With tax time so near, if you’ve purchased an investment property in the past year, make sure you’re prepared with a property tax depreciation schedule that’s best for you.
For more information, <a href="https://nbtax.com.au" target="_blank">click here</a>.
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Making your first property investment possible

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SPONSORED POST
Over the past few months, the east coast of Australia has been battered by severe storms and we’ve all seen the pictures, with roofs being ripped off and many properties completely destroyed, it’s a scary time for property owners.
As a property owner or investor, fearing for your own home as well as your investment property during these events is a likely source of sleepless nights and it’s a fact that all property owners want and need insurance cover to protect their investment.
However, all too often property owners incorrectly insure their property, whether it be under insured or over insured.
Having your property insured for either its purchase price or its market valuation is not the right solution.
The insured value should be for re-constructing the property and all that that entails.
The insured cost should include for things such as demolition and clean up, design and engineering fees, project management and other consultants fees of the new build, approvals and permits, the cost of the construction works, and importantly the cost of escalation on the rebuild price between the time of destruction and the time of actually rebuilding.
Additionally, when you insure your property for its purchase price or market value you are effectively and unnecessarily insuring the land!
NBtax, being part of the Napier &amp; Blakeley group, are among the most experienced quantity surveyors in the country.
Quantity surveyors are perfectly positioned to advise on the correct levels of insurance for re-building property.
Quantity surveyors are the only professionals in the market place that are qualified to calculate construction costs.
In the event of insurable damage, we also advise property owners in determining the scope and amount of a claim to be submitted, as well as preparing and administering building contracts for repairs or complete reconstruction.
In the event of partial or total destruction of an investment property you should also consider your property tax depreciation deductions.
We are asked by numerous clients what effect might these damaging incidents will have on their existing and future capital (depreciation) allowances on their investment properties. And the question arises where funds from a third party such as an insurer pays for capital works.
In the event of repair works, then all demolished capital items may be written off from the date of demolition. All newly installed and refurbished costs may be claimed once works have been completed. Always remember to keep all your records of expenditure, even those such as skip hire, professional fees and the like.
It is important to identify the assets within your existing property tax depreciation schedules that have been removed as to ascertain their value at the time of removal. NBtax tailors its service for each client when it comes to maintaining accurate property tax depreciation schedules, after any reconstruction or repair works your schedule may need updating.
With exposure to billions of dollars of actual construction costs, our quantity surveyors, provide a solid platform for insurance advice. This advice should also help you negotiate with insurers if you need to make a claim.
Contact one of our specialists for <a href="https://nbtax.com.au/" target="_blank">further information</a>.
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