An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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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A five-bedroom, three-bathroom waterfront house in Noosa Heads, Queensland has been sold for $3.6 million through Tom Offermann estate agents Peter TeWhata and Tom Offermann. 
The <a href="https://www.propertyobserver.com.au/A%20riverfront%20five-bedroom,%20four-bathroom%20house%20in%20Corinda%20was%20sold%20for%20%245.1%20million%20through%20Adcock%20Prestige%20estate%20agent%20Jason%20Adcock." target="_blank">Cooran Court property</a> is located on leafy streetscape only five minutes to Noosa Main Beach, with a palm-lined garden path, timber features on the facade and glass-panelled double doors. 
The 740 sqm parcel of land features a lofty-entrance hall, timber kitchen, family living spaces, and additional living and dining spaces with glass doors on two sides which open out to a terrace designed for entertainment.
There is also direct access to water from the property.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/27/17_Noosa%20Head%204.jpg" alt="" style="caret-color: #000000; color: #000000;">
In the guest or family wing, two of the four bedrooms look out to the swimming pool and all share a family-size bathroom.
Upstairs is the master suite with walk-in robe and ensuite.
According to Domain, 14 other five-bedroom houses in Noosa Heads have recently been sold with a similar one on Noosa Springs Drive sold for $2,224,000 in early February. 
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j.ballantyne1990-6AQqhLzZaK

Waterfront five-bedroom Noosa Heads house sells for $3.6 million 

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For many developers, COVID-19 has put a spanner in the works – with buyers acting more cautiously due to the unpredictability of the market. For <a href="/developers/assemble">Assemble</a>, it's quite the opposite. With demand for their latest Kensington project rapidly increasing, Assemble's model proves that going above and beyond to deliver what buyers truly want pays off even in the toughest of times. 

We spoke with Assemble's Managing Director Kris Daff about the future of affordable housing in Australia, and the launch of Assemble's latest project 15 Thompson Street, Kensington. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-28_at_12.23.36_pm.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="294" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-28_at_12.23.36_pm.png?itok=TlUbdjBZ" width="580"></a></figure>Urban: Congratulations on the launch of Assemble's Kensington Project! With unique features such as a lending library, woodfire pizza oven and parcel delivery with fridges, it's clear you've really thought through all the practical things people want in a home and delivered them in an innovative way. What are the features you are most proud of about 15 Thompson Street? 

Kris Daff: We’re very proud of the overall design of our latest development, 15 Thompson Street, Kensington. We have always taken a resident-led approach to design and have surveyed over 1,500 potential future residents to establish what are their actual needs, not just relying on our views on what they should have! We then fed this information into our work with our collaborators including architecture practice, Hayball, and landscape architecture practice, Oculus, to design a neighbourhood that responds directly to our future residents' needs and desires.

I love the open breezeways and vertical gardens that connect each home, along with a ground floor pocket park and the large rooftop that encourages people to get together and meet their neighbours over the barbeque, woodfire pizza oven and communal (and pet!) play facilities. This opportunity for spaces which allow for casual interactions between residents is often what is missing in many apartment developments.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-28_at_12.23.49_pm.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="318" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-28_at_12.23.49_pm.png?itok=O6bhv49A" width="580"></a></figure> 

U: This time is pretty uncertain for the housing market in Australia – yet over the past few weeks, you've received daily applications from first home buyers, individuals and families – proving that people are in fact still buying property. What do you think is the secret to your success? 


KD: The process of buying a new property can be very stressful at the best of times, let alone during this unprecedented time, we are currently experiencing due to COVID-19. The flexibility, transparency and trust that is embedded in the Assemble Model has given people a great deal of comfort and confidence, especially for first home buyers, who want to own their own apartment but find the traditional purchasing options a real strain. The Assemble Model offers long-term rental stability for five years, with then the option to buy the apartment at an agreed price that is fixed in advance of us commencing construction. This gives our residents a total of seven years to save.

The model works to support those seeking to ultimately own their apartment in an Assemble project, with established minimum household incomes (MHI) to ensure each applicant is eligible (but not obligated) to purchase the property after they rent for the five-year period. Residents are offered free-of-charge opt-in financial coaching through construction and the lease to assist them in reaching their homeownership goal. At the of the lease period, they can choose to buy their apartment if it still suits their circumstances – many have called it the ultimate try before you buy scenario.

U: With housing security becoming a fear for many Australians in the wake of the COVID-19 pandemic, what kind of financial security does rent-with-the-option-to-buy offer property seekers?

KD: The ‘rent-with-the-option-to-buy’ development offer (the Assemble Model) negates the need for prohibitive up-front cash deposits by offering residents with a stable rental, ample time to enjoy their well-designed home, all while working towards a savings goal. We are promoting homeownership and creating an environment where they are encouraged to improve their financial wellbeing.

Once their five-year lease period is up, residents can then decide if it is the right financial and lifestyle choice before buying into the project. They have the flexibility to not exercise their option to purchase their apartment if it no longer suits them, without being financially penalised.

U: For people who are currently experiencing employment uncertainty but can still make rent payments, is there still a way for them to apply for rent-with-the-option-to-buy?

KD: Yes. Our model is aimed at supporting those with a low- to moderate-income households with a total household income from $60,000 can have the opportunity to gain a foothold on the property market – between 80-90% of Assemble Model apartments are classified as affordable for these households.

The two-year construction period and five-year rental period is designed to provide a seven-year home deposit savings timeframe – the average length of time it takes people to save for a home deposit. We also have an <a href="/expert-insights/buying/resetting-your-finances-during-covid-19-a-financial-coachs-guide">in-house financial coach, Sarah</a>, who assists residents in setting up a savings plan, so once their lease is near completion, they are in the best financial position to buy their apartment.

U: In a <a href="/expert-insights/buying/rent-with-an-option-to-buy-the-housing-model-helping-first-home-buyers-into-the-property-market">previous interview with Urban</a>, you said, "We strongly believe that everyone deserves the opportunity to access stable housing" which is so important. I'm sure there are many readers who are keen on the Assemble concept but don't live in Melbourne. Do you have plans to expand your model to other states across Australia? 

KD: Yes, we are a fast-growing business, with two <a href="/news/introducing-the-assemble-model-a-new-pathway-to-apartment-buying-and-ownership">Assemble Model projects</a> in Melbourne, including <a href="/buildings/38-albermarle-st-393-macaulay-road-kensington">393 Macaulay Road</a> and 15 Thompson Street in Kensington, and other sites soon to be announced.

We are also expanding in affordable Build to Rent projects and have a number of partnerships in place to develop more affordable apartments and community housing. We are actively looking at site opportunities interstate including Sydney and Brisbane – watch this space!

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-28_at_12.24.21_pm.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="319" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-28_at_12.24.21_pm.png?itok=Tk2PKhdc" width="580"></a></figure> 

U: How do you think COVID-19 has impacted the future of housing in Australia? What changes do you foresee the industry making in response to the current situation? 


KD: This time has illustrated how important it is to create homes that foster connected communities.

COVID-19 has seen us retreat to our homes. It is important to have access to good natural light and ventilation, and ample space and flexibility. Having the ability to get outside and enjoy fresh air has also been vital so gardens and outdoor play spaces will be a non-negotiable for people seeking their next property move. Quality, well-designed housing should be accessible to all, and that is the driver of all Assemble developments.

U: And finally, what would your ideal neighbourhood look like and why?

KD: My ideal neighbourhood is one which provides housing designed for people, not investors and that is free of any anxiety around the residents’ housing future. As a result of that certainty, a neighbourhood that fosters a sense of inclusion and participation.
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Olivia Round

Assemble's Kris Daff discusses 'rent-with-the-option-to-buy' and the future of housing in Australia

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HIA has asked the Fair Work Commission to consider changes to the Building and Construction General Onsite Award that help employers and employees in the residential building industry stay connected despite the impacts of COVID-19.
Home builders and trade contractors are feeling the impacts of COVID-19 in their business every day.
They want to keep their staff and keep them employed despite the decline in home building activity as a result of COVID-19. The current Onsite Award that applies to our industry simply does not give both sides the necessary flexibility to do this.
Last month, 99 modern awards were changed to address COVID-19 impacts but building and construction was left off the list.
The changes we have put forward largely reflect the changes to workplace arrangements available to employers covered by those 99 modern awards and employers eligible for JobKeeper Payments.
The application would also help those employers who remain ineligible for JobKeeper the same flexibility as other businesses. The proposals also address the need for building businesses to comply with COVID health and hygiene requirements by recognizing that extra time during the work day may be needed to carry out building work.
It is important that everyone on construction sites can prevent the spread of COVID-19.
Offering greater options in the Award regarding, for example start and finish times, would support businesses appropriately schedule their work while still being able to get the job done.
The Prime Minister’s comments this week regarding the need to realign our current industrial relations system and support job creation are consistent with this application.
A positive response from the Commission, combined with further advice from Treasury to address the unique situation home builders face under the JobKeeper arrangements, would be a welcome outcome.
With up to half a million jobs at risk in the residential building industry keeping employees connected with their workplaces and keeping businesses in business must be a priority. Any measures that can help facilitate this are now critical.
MELISSA ADLER HIA Executive Director - Industrial Relations.
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HIA seeks changes to housing industry awards and wages

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The recently departed NSW arts minister Don Harwin - who plans to see out his parliamentary days based at his Pearl Beach retreat - has sold his redundant Elizabeth Bay apartment.
It fetched $1,235,000 to the only bidder, who raised his initial $1.2 million offer.
It was put up for sale with the prospect of pocketing $1.2 million.
The apartment’s marketing by LJ Hooker agent David Malouf highlighted it having “views across the sparkling waters of Rushcutters Bay, the marina, park and the harbour foreshore offering an outstanding lifestyle opportunity in a highly sought-after address.”
Harwin noted he had medical ailments that he felt were best recovered on the coast.
The former NSW’s Minister for the Arts will be at home at Pearl Beach.
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Don Harwin sells Elizabeth Bay apartment for $1,235,000

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Even as the recovery gets under way, the RBA Governor Dr Philip Lowe expects there will still be a shadow cast by the pandemic.
"As a country, we will need to turn our minds as to how to move out of this shadow," Lowe said today.
"A reform agenda that makes Australia a great place for businesses to expand, invest, innovate and hire people would certainly help. For its part, the RBA will maintain its expansionary settings until progress is being made towards full employment and we are confident that inflation will be sustainably within the 2–3 per cent target band."
When answering questions he said the number of job losses has been lower than initially expected.
He described the pandemic as a "black swan event."
He re-affirmed negative interest rates were not on the policy agenda and were "extraordinarily unlikely" to happen in Australia. 
"I don't think they work," he said.
Lowe said, we need to re-examine the way we tax consumption as well as property among a number of other things he mentioned.
In light of APRA's estimated residential mortgage rate buffer of 2.5% he said the odds of the cash rate increasing by such a significant amount wasn't likely
He also discussed his fears of a lack of dynamism in the economy, that we would go too far in the movement towards regulation and impact the future and growth of the economy.
If we want to have a better standard of living for us and our children then dynamism and growth in the economy are vital.
In his opening statement he said, "the evidence so far is that our mid-March package is working as expected and it is helping build the necessary bridge to the recovery."
"The shape and timing of that recovery depends not only on when restrictions are lifted, but also on the confidence that Australians have about their own health and their finances."
"With the national health outcomes better than earlier feared, it is possible that the economic downturn will not be severe as earlier thought. Much depends on how quickly confidence can be restored."
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RBA governor expects long shadow cast by the pandemic as recovery gets underway

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Recently, Urban sat down with Idle Wealth Director Torey Hensel to discuss the current position of the Australian property market and how it’ll fare in the near future. 

Urban [U]: What are the best ways to spot opportunities for investing in property in a post-COVID-19 world?

Tory Hensel [TH]: Pretty simply, I’d say stick with the research fundamentals starting with the top down. Property has always been about identifying opportunities within a supply and demand framework, and the period we are going through at the moment is just adding another variable to that equation. 

It is important to understand that variable as best as possible and understand the impacts that COVID-19 is going to have on the different property markets within Australia. Obviously, this virus is not going to affect what is a 7-trillion dollar property industry in the same way across the board. So, in terms of what to look for, we are targeting properties and locations that will likely avoid most of the negative effects of COVID-19 but benefit from the recovery. So, areas that:

<ul>
<li>Have a slightly older demographic, where the majority of young professionals aren’t highly exposed to hospitality and recreation jobs, i.e. the ones who have been hardest hit from the last few months; </li>
	<li>Staying away from areas that are experiencing a flood of new rentals coming on to the market from AirBnB hosts converting their short-term accommodation into long term rentals;</li>
	<li>Locations that are in close proximity to proposed large public and private infrastructure projects that are yet to get off the ground.</li>
</ul>
With the latest figures of over 600,000 job losses and $230 billion COVID-19 bill, the government would want to rectify that as soon as possible, and the best way for them to do so is with the approval of large-scale infrastructure projects. Counterintuitively, the best way for the government to make up on deficits is to spend money creating jobs, which will, in turn, see more people off JobSeeker, free up income for discretionary spending, retail will pick up, inflation speeds up, and the government will reap the rewards in the form of taxes.

Projects that were waiting for a tag to clear might just get a green light across the board and the property market in direct proximity to these projects will be the beneficiaries. So, keep your eyes on the priority development areas.

U: How has Idle Wealth been providing support for clients who are impacted by COVID-19? 

TH: One of the most difficult and frustrating aspects of this pandemic — from the standpoint of investors, at least — has been the murkiness of policies from the government and hyperbolic clickbait headline-grabbing that we see in the media. It has been very difficult to pin down exactly what the policies have been, what the data is actually telling us about the property market, and what the path forward is going to look like.

I think the greatest value that we have been able to bring to our client base is the clear communication of government policy and the facts around the current market performance as we ascertain them. The majority of our clients are not on the rich list; they are mums and dads trying to build a foundation of wealth for their retirement. To be honest, we haven’t seen much protection of them in the media nor in the government, and I feel that it is our responsibility to represent the voices of investors who are also hurting during this time.

U: In Idle Wealth’s latest property update video about COVID-19, it was mentioned that Australia’s property market has a history of performing well during global financial crises. Do you think that Australia’s resilience will re-emerge this time around? If yes, will this resilience attract more international buyers?

TH: I think the Australian market has already shown a significant level of resilience to the economic effects of the virus and I think it is worth unpacking why this has been the case. History, as the question states, the Australian property market does have a history of performing well through global financial crises, and I outlined some of those periods in my latest <a href="/news/how-to-ride-the-covid-19-wave-the-ultimate-developer-survival-kit">COVID-19 video</a>, which you can check out on my Instagram, @IdleWealth.

The same reasons property has held up well in the past will hold true in this case. Our economy was in a great position before all this happened. I am optimistic that the additional variables of the government’s economic stimulus and debt holidays for those who are in financial hardship will mean that the number of hardship-induced sales will be far lower than in comparable economic downturns, thus reducing the risk of a crash that the usual suspects have been predicting for twenty years.

As for international buyers, Australia already has a very appealing and economically diverse property market. Add in the extra variables of our positive national response and handling of the crisis, I think that can only improve buyer sentiment and confidence. Another possible reason that property has been so resilient through this time is that the hardest hit areas, and the most affected, younger generations — the waiters or waitresses, bar staff, arts and [recreational job] workers, air hostesses, retail workers — are not your typical homeowners or investors. Though this might have a flow-on effect, widening the wealth gap between boomers and millennials, it does somewhat insulate the property market from the dramatic unemployment spike that we are currently seeing.

U: Since the nationwide lockdown there has been a surge of online visits to <a href="/guides">off-the-plan property listings</a>. When the pandemic is over, to what extent do you think that these online enquiries will translate into real life?

TH: It’s difficult to say. What the data is showing at the moment is a large increase in online searches, but these searches are not spread out evenly across the board. For example, there has been a five to eight times increase in search volumes for the more premium suburbs in Brisbane, <a href="/developments/sydney-nsw">Sydney</a> and Melbourne. But there has been a decrease in search results for areas about 30-40km radius from the CBDs.

Another factor is how do you determine how many of those visits were serious buyers versus people shopping around at home because they are bored at home and have nothing to do? With no physical inspections over the last month, it is unsurprising to me that there has been an increase in online traffic. What is going to determine how many of those visits and enquiries translate into real life will be a combination of the confidence in the market as the restrictions are removed, and how quickly jobs will recover on the other side of COVID-19. 

U: As per your Australian property update in April, how much longer do you think things will get worse before they get better?

TH: Again, referencing my last COVID-29 video update, what the future holds for the Australian property market really depends on a few key events or scenarios playing out over the next few months. The worst-case scenario, as restrictions ease and people get back to some form of normalcy, is a second wave of the virus, forcing another government shutdown. If this does happen, I think there will be a much more severe impact than we’ve seen so far: with many businesses that are just on the brink at the moment unable to cope with yet another hit at their back pocket. On the other side of the spectrum, if restrictions are lifted successfully — as they have been so far — and we continue to get back on our feet as a country, positive growth in the last quarter of 2020 would not come as a surprise.

U: What do you think will happen to residential property prices in the near future?

TH: It is still too early to say exactly what is going to happen over the coming months, and there will likely be varying outcomes in different markets across Australia. But on a macro or national level, there are a number of variables that we still need to consider. There is a possible second wave of the virus, as I mentioned, keeping buyers and sellers cautious. Banks are tightening up lending due to the uncertainty, which, historically, will have a negative impact on price growth. Low migration numbers will definitely impact population growth, and this will likely have a flow-on effect to the lower end, up-and-coming suburbs. We’ve seen so far, and we will continue to see, strong performance around the median price points of higher grade suburbs that offer a mix of location, land scarcity, and owner-occupier appeal.

Again, this is where we are focusing the majority of our attention: vacancy rates, particularly in inner-city Melbourne and Sydney, will be heavily impacted over the short term with (a) a flood of <a href="/news/airbnb-plans-to-help-house-100000-covid-19-responders">AirBnB properties</a> coming onto the long-term rental market, and (b) the exposure that those locations have to the most affected younger workers who make up the majority of tenants. 
To finish on a positive note, with all-time low-interest rates, investors at the moment are able to find cash flow-positive properties in areas where it was impossible to find five years ago. We are seeing a number of people with very healthy retirement balances moving their money out of shares and into a property, seeking a more stable asset class which, from a supply and demand point of view, will provide yet another buffer, reducing any sort of dramatic market fallout.
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Nick Dante

Q&A: Urban sits down with Idle Wealth Director Torey Hensel to discuss the current position of the Australian property market

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We need our space, and if a time period has proven this more than ever it is now. This period of change has proved that open space is critical to the functioning of our society, even when everything else is shut down. 

In Melbourne, Councils are taking differing approaches to open space strategies, but are all prioritising it and looking towards growth and improvement of available open space for the public. 

Associated with open space in communities is the obvious physical benefits of exercise, both individual and group.  However, there are also social benefits by providing a space for meetings, picnics, gatherings with families and friends and the proven mental health benefits of leisure, mental development and connection with nature, as well as the life-giving effects of fresh air and sunshine.

Green open space also mitigates the impact of the <a href="/news/urban-heat-island-effect-whats-that">Urban Heat Island effect</a>, and as we are faced with steadily rising temperatures, green space will be able to provide some relief to the absorption of heat in urban areas. 

Urban Heat Island is the effect where the abundance of paved surfaces in urban area absorbs heat throughout the day and holds the heat much longer than green permeable surfaces. At night when the temperature drops, the heat is trapped in the city from the buildings and surfaces that are still radiating heat. As a result, metropolitan areas have temperatures 1-3 degrees Celsius hotter than rural areas.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.49.57_pm_0.png" rel="gallery-all" title="Urban Heat Island and Open Space Diagram. Image credit: [City of Melbourne]"><img alt="" class="image-article-full-width-580px" height="329" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.49.57_pm_0.png?itok=z-MF6pT6" title="Urban Heat Island and Open Space Diagram. Image credit: [City of Melbourne]" width="580"></a>

<figcaption>Urban Heat Island and Open Space Diagram. Image credit: [City of Melbourne]</figcaption></figure> 

As the image above indicates, more open space aids in providing cooler spaces throughout the day and also helps cool the city at night through evapotranspiration. 

The provision and management of open space is a critical part of local government area strategies. In response to this time, I’ve looked back on three inner-city Melbourne local government areas and their Open Space Strategies to see what has been prioritised. 

City of Melbourne

<a href="/news/city-of-melbourne-adopts-policy-for-mandatory-inclusionary-zoning-as-mechanism-to-deliver-affordable-housing">The City of Melbourne</a> is blessed with several large parks and open spaces, some of which attract tourist and locals in large numbers. As part of the Open Space Strategy – Planning for Future Growth, there is focus on improving existing parks and creates links of open space as part of a greater open space network throughout the local government area. 

New open spaces both major and smaller are planned in areas that are outside the 300m-500m walkable open space network (10-minute walk). Identified gaps are prevalent in the West, which are areas that will be experiencing planned urban renewal. These areas include Flemington, Kensington, <a href="/developments/north-melbourne-vic-3051">North Melbourne</a> and Docklands which have been targeted for major open spaces and improved corridors and links. 

Urban Renewal Areas provide opportunities to increase the amount of open space in the vicinity in tandem with urban renewal development example include Fisherman’s Bend and Arden and Macaulay. 

There are also smaller open spaces proposed all around the precinct varying from 0.3 hectares to 1 hectare, providing more open spaces of smaller sizes dotted around the precinct to ensure all residents can walk to an open space regardless of size. 

The strategy has already surged ahead with commencement two open space projects, the Southbank Boulevard and Dodds Street open space corridor and the University Square transformation.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.51.38_pm_0.png" rel="gallery-all" title="Carlton Gardens in the City of Melbourne. Image credit: [City of Melbourne] "><img alt="" class="image-article-full-width-580px" height="357" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.51.38_pm_0.png?itok=Cg7CX1HG" title="Carlton Gardens in the City of Melbourne. Image credit: [City of Melbourne] " width="580"></a>

<figcaption>Carlton Gardens in the City of Melbourne. Image credit: [City of Melbourne] </figcaption></figure>Carlton, East Melbourne and Parkville do not have any existing walkable distance gaps and these areas represent a purposeful goal to strive towards for the whole of the City of Melbourne. 

City of Moreland

The City of Moreland has 839ha of open space in the local government area. The main goals of the Open Space Strategy 2012-2022 include:

<ul>
<li>Providing parks close to home </li>
	<li>Having a mix of open space types and experiences </li>
	<li>Making places for nature </li>
	<li>A greener more liveable Moreland </li>
	<li>Making the most of open space through effective management </li>
	<li>Enhancing participation and use of open space </li>
	<li>Development of network of shared trails. </li>
</ul>
Similar to the City of Melbourne, one of the main initiatives is striving to have parks and open spaces within <a href="/news/the-social-benefits-delivered-through-landscapes">500m walkable distance</a> and 300m in the densest residential areas. Moreland City Council has dubbed this the ‘A Park Close to Home’  plan and is actively purchasing land in areas that do not have open space within a walkable catchment area. Two new parks have already been unveiled.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.53.26_pm_0.png" rel="gallery-all" title="Artist illustration of Garrong Park on Tinning Street, Brunswick. Image Credit: [Craig Perry]"><img alt="" class="image-article-full-width-580px" height="407" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.53.26_pm_0.png?itok=9CbkBk-L" title="Artist illustration of Garrong Park on Tinning Street, Brunswick. Image Credit: [Craig Perry]" width="580"></a>

<figcaption>Artist illustration of Garrong Park on Tinning Street, Brunswick. Image Credit: [Craig Perry]</figcaption></figure> 

New parks on Tinning Street and Breese Street are in industrial locations, close to the train line, and are in transitional residential areas. Design, naming, and use of the parks has involved the community with resident consultation and important illustration correspondence from Brunswick North Primary. The Tinning street park is to be named Garrong in the Woi Wurrung Language meaning ‘Wattle,’ and the Breese street park is to be named Bulleke-bek, similarly in the local language, meaning Brunswick. 

A strong feature of the strategy is the acknowledgment of the different demographics across Moreland and providing open space that is appropriate to everyone. There are proposed improvements and additions to the open space network to suit both young and old users. Spaces that will allow everyone to benefit from contact with nature while providing an opportunity for social and family use, recreation, sport and more. 

If more people feel connected or included by provided open space it can result in residents utilising them more and being respectful and proud of those spaces. 

City of Darebin 

The City of Darebin Open Space Strategy Breathing Space focuses on protecting, enhancing and increasing open space in the precinct. The current access to green space is 19.6sqm per capita, which is below the goal for 30sqm per capita. 

The two main goals are quantity and quality. There is a focus on increasing the quantity of open space and the local government area is working towards the 500m walkable distance from homes. This requires the acquisition and transformation of land into open space, focusing on making connections to transport and existing space, and providing open space in high density or projected growth areas. This is similar between all three local government areas. 

The second focus is on the quality of open space, concerning maintenance, design, services and biodiversity. There is much thought put into ways of providing habitats and supporting local flora and fauna. There is an emphasis on rewilding Darebin by making indigenous bushland the default choice for planting in existing and proposed open spaces.  

The rewilding of Darebin has kicked off with a redeployment of 35 staff members impacted by Covid-19 to help plant 30,000 trees, plants and grasses. The rewilding aims to increase tree canopy and local biodiversity.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.56.02_pm_0.png" rel="gallery-all" title="Redeployed Darebin employees planting trees, plants and grasses to rewild the area. Image credit: [Darebin City Council]"><img alt="" class="image-article-full-width-580px" height="383" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.56.02_pm_0.png?itok=JNuc9Fqy" title="Redeployed Darebin employees planting trees, plants and grasses to rewild the area. Image credit: [Darebin City Council]" width="580"></a>

<figcaption>Redeployed Darebin employees planting trees, plants and grasses to rewild the area. Image credit: [Darebin City Council]</figcaption></figure>Darebin’s focus on indigenous species and the increase of canopy cover is a strong strategy. This will hopefully add to the respect of species and an increase in appreciation and benefits of open space, including physical, mental, social and urban heat. 

With densification and a growing population, Melbourne’s opportunities to grow open space are shrinking. It is paramount that local government areas focus on preserving and improving public open space, and plan to increase where possible, capturing vital land for new parks and spaces before they are gobbled up by new development. 

As this time cooped up at home is showing, access to open space is critical and it can and will be utilised for a whole range of activities by the public, generating collective positive mood shifts when everything else has been impacted. 

There are opportunities to increase walkable access to open space through strategic residential development and the linking of large open space with pocket parks and greenery to create green corridors through urban areas.   
Open space is important and the private open space requirements for new dwellings is only minimal. For single and multi-dwelling it is been 40-80sqm and for apartments, you’ll only get between 10-25sqm to call your own.  As a result, more and more people need to leave the house to stretch their legs and come in contact with some nature in an easy, quick and enjoyable way, and Council’s are working hard to make sure everyone has a public park or space near enough to reap the benefits.
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Out in the Open: Comparing Open Space Strategies

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Physical distancing is going to be one of the key pillars to maintain a <a href="/expert-insights/buying/covid-19-a-little-bit-of-positivity-goes-a-long-way">functioning society and economy </a>until a vaccine is found. Now, with the need to have space between people, it is becoming evident how little space is provided in the public realm to humans. 

<a href="/news/icd-propertys-alice-smith-discusses-the-future-of-australias-property-industry-after-covid-19">Therefore in commercial areas</a> it may be time to reallocate some of the 'space between the buildings' back to people. 

In Western Australia, the City of Bayswater has announced the relaxation of alfresco seating permits. Cr Dan Bull, Mayor of Bayswater said the change is one of a raft of measures put in place to support the local economy through COVID-19. Mr Bull said “The only stipulation is that the City would need to see the business’ public liability insurance and footpaths and other areas would still need to remain accessible to the public." Hopefully more Councils will follow the City of Bayswater's example.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_11.48.56_am_0.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="335" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_11.48.56_am_0.png?itok=73EwTgxb" width="580"></a></figure> 

This is a step towards supporting the local economy. If more space is available to businesses, they can offer dine-in services outside while complying with <a href="/guides/covid-19-how-apartment-dwellers-can-keep-themselves-safe-during-self-isolation">physical distancing requirements</a>. But, in some locations this may lead to conflicts with pedestrians, or may not even be possible because the footpath is too narrow. Restaurants and shops may realise that parking bays are more valuable as an extension of their business rather than for vehicle storage. If these are on-street parking bays, what will be the response from local governments to those business owners that want alfresco space to stay open but don't have space to provide it? 


The next step, if appropriate, is to re-allocate some of the street space back to people. Many local governments have parklet guidelines or policies that enable a local business to expand into a parking space outside of their premises. These policies have many requirements in terms of design quality and location. For example, limiting parklets to streets where the speed limit does not exceed 40kph will prove challenging to most of Perth (That is a discussion for another time). Also, not all Councils have city hosted parklets, therefore the entire design, build, and maintenance of the parklet is the responsibility of the business. 

Councils relaxing alfresco seating permits is a positive step towards supporting the re-opening of businesses. It is also a step towards reclaiming public space for people to linger and enjoy. It starts a conversation about the purpose of a footpath or parking lot. Then the discussion will lead to another question - why are vehicles given 3 meters of road space width to be stored while pedestrians, patrons, and people on bikes fight over 1.6 (sometimes 1.2) meters of footpath? Is on-street parking the best use of that space? What if it was redistributed into space for people? Perhaps it is more useful as an extension of the footpath, or perhaps it could become a bike lane. 

Streets for People wants to see initiatives that use temporary road treatments to re-allocate vehicle space back to people.
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Making physical distancing possible - Seizing the Opportunity to Make Streets for People.

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Bringing a new sense of luxury living to Melbourne's Camberwell is <a href="/buildings/hawthorn-park-33-camberwell-road-hawthorn-east">Hawthorn Park</a>. Designed by multi-award-winning architect, Rothelowman, Hawthorn Park reimagines the norm of apartment living. 

Hawthorn Park boasts unparalleled amenities - from Melbourne's first sky pool and theatre rooms in selected apartments to a stunning sky lounge and approximately 2000 square metres of parkland curated by landscape architect Jack Merlo. 

Check out our video tour:

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/ukGas_GbMcg" width="660"></iframe>

<h2>HAWTHORN PARK AT A GLANCE</h2>

Developer: Dahua Group

Architect: Rothelowman

Location: 33 Camberwell Road, Hawthorn East VIC 3123

Number of apartments: 330

Slated for construction: Dec 2020

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/hawthorn-park-33-camberwell-road-hawthorn-east-99caf70ff16916932338e6b85733c7bc_0.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="394" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/hawthorn-park-33-camberwell-road-hawthorn-east-99caf70ff16916932338e6b85733c7bc_0.jpeg?itok=9Vm6n_hr" width="580"></a></figure>Starting our tour in the kitchen, you'll notice the generous amount of space and high-quality fixtures, with exceptional Miele and Gaggenau appliances. 

The kitchen offers residents plenty of built-in storage, with designer golden lighting and a stone kitchen island, providing the perfect centrepiece for friends and family to gather around and socialise. The kitchen flows seamlessly to the living area, which features opulent floor-to-ceiling joinery to allow for an abundance of natural light. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/4ae00165-6e92-482a-9cc8-6022fdafa021-w1920-h1080.jpeg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/4ae00165-6e92-482a-9cc8-6022fdafa021-w1920-h1080.jpeg?itok=UNtFJ09L" width="580"></a></figure>The Hawthorn Park bathrooms feature a stunning wall-sized mirror, rainfall and handheld showerheads, luxurious stone vanity and plenty of bathroom storage as well as ultra-modern gunmetal tapware.

With a completion date set for late 2020 and situated just 6.7km from Melbourne's CBD, these apartments won't be on the market long, so secure your new Hawthorn East address today by <a href="/buildings/hawthorn-park-33-camberwell-road-hawthorn-east">reaching out to a Hawthorn Park sales agent</a> via Urban.
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Urban’s tour of the Hawthorn Park display suite

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A Melbourne residential unit has come onto the market priced at $5,000 less than it was sold for more than a decade.
Located at 3206/31 A'Beckett Street, the apartment features two bedrooms, one bathroom, a combined kitchen and living area, and a car space.
It last sold in 2008, for $443,500.
It has been listed in 2020 for $438,000.
The sale reflects a growing concern about the stability of Melbourne's housing market in the current economic climate, with HSBC estimating prices could drop by as much as 17% if the current downturn is prolonged.
Another unit, on the same street, has also been <a href="https://www.propertyobserver.com.au/listed-my80-unit-facing-potential-loss-of-96-000-on-2014-price" target="_blank">recently listed with a price guide reflecting a likely loss on the investment.</a>
Sam Liu, from Selling Melbourne Real Estate, has the A'Beckett Street listing.
 
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