<p>An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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>.</p>

<p>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.</p>

<p><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." /></p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>Rebel had secured approval for the concept plans late last year.</p>


Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p><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_" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><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.</p>

<p>"<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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>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.</p>

<p>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.</p>

<p>"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;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>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.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Juliet to sit quietly amid Roseville apartment boom

<p>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.</p>

<p><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.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>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.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>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.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


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

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>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.</p>

<p>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.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"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.</p>

<p>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.</p>

<p>“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.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“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.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“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.”</p>


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

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

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<p>The highly anticipated $2 billion dual tower skyscraper, <a href="/new-apartments/sth-bnk-by-beulah-southbank-60-southbank-boulevard-southbank"><u><strong>Southbank by Beulah</strong></u></a>, has been awarded the seal of approval from Planning Minister Hon. Richard Wynne to commence construction next year.</p>

<p>It's a pivotal moment for the property industry and skyscraper enthusiasts across the country, who have waited almost a year to hear the verdict as to whether the landmark development would be gracing the Melbourne skyline anytime soon. In a time of social and economic disruption due to the current pandemic, the positive news couldn't have come at a more apt time.  </p>

<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_2020-04-24_at_1.12.43_pm.png" rel="gallery-all" title="Image supplied."><img alt="" class="image-article-full-width-580px" height="373" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-04-24_at_1.12.43_pm.png?itok=rGezhk6L" title="Image supplied." width="580"></a>

<figcaption>Image supplied.</figcaption></figure><p><u><strong><a href="/developers/beulah">Beulah International</a></strong></u> Managing Director, Jiaheng Chan, acknowledged the financial strain the country is currently experiencing and hopes to reinvigorate the market once the new <a href="/new-apartments/southbank-vic-3006"><u><strong>Southbank</strong></u></a> project is delivered. </p>

<blockquote>
<p><em><strong>"We would like to extend our sincere gratitude to both the Victorian Government and the City of Melbourne for their endorsement of Southbank by Beulah, which we hope will play a significant role in Melbourne's economic recovery over the coming years."</strong></em></p>
</blockquote>

<p>Southbank by Beulah is likely to take five years to complete construction and will offer jobs to approximately 4,700 construction workers, via the provision of a $1 billion additional investment stimulus to the Melbourne construction industry. Once complete, the development also has scope to provide the Victorian workforce with around 3,250 jobs in the commercial, retail, entertainment, hospitality and child care sectors. These new job opportunities will, in turn, grow the Southbank working population by around 8%.</p>

<blockquote>
<p><em><strong>"Southbank by Beulah will transform the way Melburnians work, live, learn, revitalise and play — it will set a global benchmark for an unprecedented lifestyle hub that caters to present and future generations and will assist in the future growth of Melbourne and its vision to become a truly global smart city."</strong></em></p>
</blockquote>

<p><em>Jiaheng Chan, Beulah International Managing Director </em></p>

<p>With plans to reach a staggering 365 metres tall, Southbank by Beulah is likely to claim the title of Australia's tallest building, overtaking Australia 108 which is due to top out early this year.</p>

<p>The collaborative design by Dutch firm <a href="/architects/unstudio"><u><strong>UNStudio</strong></u></a> and local firm <a href="/architects/cox-architecture"><u><strong>Cox Architecture</strong></u></a> will see the transformation of the existing BMW site, into a future-focused vertical village, spanning a total of 270,000 square metres of sought-after real estate. </p>

<p>Each of the two towers feature a unique helix shape, which ensures each floor utilises the exceptional city views on offer. Colloquially referenced as the 'Green Spine', Southbank by Beulah dons striking vertical greenery, as well as a vibrant rooftop garden, encased in a canopy of alternating vertical and horizontal beams, which will protect the plants from the elements. The decision to include vertical greenery is not only visually striking and an environmentally conscious choice, but it also pays homage to Melbourne's title of The Garden City. </p>

<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_2020-04-24_at_1.12.33_pm.png" rel="gallery-all" title="Image supplied."><img alt="" class="image-article-full-width-580px" height="486" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-04-24_at_1.12.33_pm.png?itok=ikmf4Wpt" title="Image supplied." width="580"></a>

<figcaption>Image supplied.</figcaption></figure><p>As a mixed-use development, the buildings will also include a variety of designated zones such as:</p>

<ul>
<li>Residential </li>
	<li>Commercial</li>
	<li>Arts and cultural spaces</li>
	<li>A 5-star resort</li>
	<li>A childcare centre</li>
	<li>Town hall</li>
	<li>Rooftop sky garden</li>
	<li>Public spaces</li>
	<li>Health and wellness precinct</li>
	<li>World-class retail</li>
</ul>
<p>Congratulations to all involved in the project, we look forward to watching the progress take shape over the coming years. </p>

<div class="rtecenter"><strong><em>FURTHER READING</em></strong></div>

<div class="rtecenter"><a href="/news/city-of-melbourne-unanimously-endorses-southbank-by-beulah-planning-application"><u><strong>City of Melbourne unanimously endorses Southbank by Beulah planning application</strong></u></a></div>

<div class="rtecenter"><a href="/news/beulah-international-submits-planning-application-for-southbank-by-beulah"><u><strong>Beulah International submits planning application for Southbank by Beulah</strong></u></a></div>
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Olivia Round

Southbank by Beulah: State Government give Australia's tallest future skyscraper the green light to commence construction

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<p>Many NSW towns are still reeling from the emotional, physical and financial impact of the summer of bushfire disasters.</p>
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<p>And historically, these local economies in bushfire affected towns undergo a resurgence within just a year of the disaster, with each community typically in a better economic position just a few years down the track.</p>
<p>But the impact of the coronavirus is going to be a setback in this recovery, just as the campaigns to encourage visitors was getting underway.</p>
<p>Recent auction offerings in NSW bushfire regions have not fared well, as it is just too early for the positives of investment to outweigh the obvious nearby signs of devastation.</p>
<p>Median house prices flattened in bushfire locations in the year of the bushfires, but by the second-year medians were above those in the year of the bushfires, according to the national estate agency, PRD Real Estate’s latest research report, Australia Bushfires: The Real Estate Perspective.</p>
<p>It gives a glimmer of hope to the devastating impact many Australian communities have experienced.</p>
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<p>PRD analysed the long-term effects of four previous catastrophic bushfires in Australia and found without fail that each community was in a better economic position just a few years down the track.</p>
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<p>“While it may be hard now for anyone to believe their community will survive, let alone thrive again, our research shows that is exactly the case," the PRD managing director Todd Hadley noted.</p>
<p>"Our analysis should give confidence to those wishing to remain in their local area but are unsure about its future economic viability.”</p>
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<p>The research examined the economic effects of four previous Australian bushfire disasters: the Canberra bushfires in 2003, Black Saturday bushfires in Victoria in 2009, Perth Hills bushfires in 2011 and Pinery bushfires in South Australia in 2015.</p>
<p>The PRD chief economist, Dr Mardiasmo acknowledged there has been damage that cannot be quantified on a personal level.</p>
<p>"This emotional anguish cannot be discounted, but there are some real positive economic benefits when communities choose to unite and persist in the process of rebuilding.”</p>
<p>“Each of the four previous bushfire affected areas analysed experienced an increase in Gross Regional Product (GRP) growth in the year immediately following the bushfires."</p>
<p>The Perth Hills region experienced an increase in GRP growth from +0.2 per cent in the year of the bushfire, up to +5.8 per cent in the year following, Dr Mardiasmo advised. </p>
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<p>It found economies started to turn around once compensation and insurance payments filtered into the communities.</p>
<p>This week the NSW state government announced a grant for businesses who have been indirectly affected by the bushfires and have lost business as a result. </p>
<p>There are 17 NSW LGAs eligible for this grant including the Blue Mountains, Eurobodalla, Hawkesbury, Lithgow, Port Macquarie, Shoalhaven, Wingecarribee and Wollondilly.</p>
<p>Eligible businesses must have experienced a 40 per cent drop in revenue over a three-month period, compared to the previous year, as a result of the recent bushfires. </p>
<p>Deputy Premier and Minister responsible for Disaster Recovery John Barilaro said about 20,000 NSW small businesses will be eligible.</p>
<p>As the towns were rebuilt, demand for construction often bought more people to the towns, boosting demand for accommodation, food and services. </p>
<p>Once charities passed on donated funds, local economies also started to improve with that money being spent locally helping many business owners get back on their feet.</p>
<p>PRD stressed it was essential these funds are quickly passed on to residents so that the economic cycle is kick started in these towns again.</p>
<p><em>This article was first published in the</em> Saturday Daily Telegraph. </p>
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jchancellor-FAypfDUnLy

Bushfire affected towns and suburbs could be set for resurgence: PRD Research

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<div class="column">Land values in NSW dropped by up to 33 per cent after the 2019/2020 bushfires destroyed properties across the state, according to the 'Review of the impact of bushfires on land values' report released on April 9, 2020.</div>
<div class="column"> </div>
<div class="column">CSIRO report that there was more than 10 million hectares of land burnt in Australian during the 2019/2020 bushfire season. This is greater than the combined area burned in the Black Saturday 2009 and Ash Wednesday 1983 bushfires. The CSIRO lists weather and vegetation as playing the major contributing factors to the 2019/2020 bushfires.</div>
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<p>Record low rainfall (2019 was the driest year since records began in 1900) and record high temperatures lead to dry vegetation and an increased frequency of fire weather days.</p>
<p>During the 2019/2020 bushfire season to date, NSW Justice has issued a natural disaster declaration for 51 LGAs across NSW.</p>
<p>The Rural Fire Service (RFS) recorded the most fire incidents in NSW in the 2019/2020 fire season over the last 20 years.</p>
<p><img src="https://www.urban.com.au/images/2020/4/24/NSW%20bushfire%20history.png" alt=""></p>
<p>The number of bushfire incidents recorded in each fire season  Source: NSW Review of the impact of bushfires on land values, 9 April 2020. </p>
<p> </p>
<p><img src="https://www.urban.com.au/images/2020/4/24/Areas%20of%20NSW%20subject%20to%20bushfires%20201920.png" alt=""></p>
<p>Areas of NSW that were subject to bushfires in the 2019/2020 bushfires. Source: NSW Review of the impact of bushfires on land values, 9 April 2020. </p>
<p>By March 3, 2020 the RFS recorded that the majority of destruction from the bushfires had occurred to residential properties with some commercial, industrial and public areas also being impacted. The total number of properties destroyed and damaged are as follows: </p>
<table style="height: 58px; width: 933px;" border="0"><tbody>
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<td><span style="color: #ffffff;">Degree of damage</span></td>
<td><span style="color: #ffffff;">Residential </span></td>
<td><span style="color: #ffffff;">Out Building</span></td>
<td><span style="color: #ffffff;">Commercial </span></td>
<td><span style="color: #ffffff;">Industrial </span></td>
<td><span style="color: #ffffff;">Public Area</span></td>
</tr>
<tr>
<td>Destroyed</td>
<td>2,355</td>
<td>5,207</td>
<td>172</td>
<td>25</td>
<td>49</td>
</tr>
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<td>Damaged</td>
<td>962</td>
<td>1,911</td>
<td>71</td>
<td>26</td>
<td>66</td>
</tr>
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Source: NSW Review of the impact of bushfires on land values, 9 April 2020.
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<p><span>In addition to the significant level of damage caused by the bushfires to property structures it has been suggested that the extent of the fires may also cause some sterilisation of the landscape. This is due to the greater intensity of these bushfires and the dryness of the landscape which had been in drought. However, the level of regeneration achievable will not be known until after the end of the bushfire season. </span></p>
<p>In response to the bushfires, the NSW government declared that it will cover the full cost of council rates for the third and fourth quarters of the 2019-2020 financial year and in conjunction with the Commonwealth government will pay the clean up costs for properties that were destroyed (Service NSW, 2020).</p>
<p><span>In early February 2020, NSW experienced significant rainfall which helped put out most fires in the state and weakened drought conditions across most of eastern NSW.</span></p>
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<p><span>The NSW Valuer General determines land values for approximately 2.6 million properties across the state each year. Almost half of these, 1.1 million, are in located in the </span><span>51 LGA’s where a natural disaster declaration </span><span>was issued. </span></p>
<p><span>NSW RFS impact assessment data indicates approximately 38,000 thousand of these were in the fire impact area. This represents approximately 1.5 per cent of the total number of valuations in the state.</span></p>
<div class="column">NSW Valuer-General David Parker studied the impact of past bushfires on property sales across the US and NSW to give land owners and councils an indication of where prices could fall this year after the unprecedented events of the past summer.</div>
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<div class="column"><img src="https://www.urban.com.au/images/2020/4/24/Case%20studies.png" alt=""></div>
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<div class="column">Impact on land values were contingent on where properties were located, how much land was destroyed by bushfires and the level of demand for land. </div>
<div class="column"> </div>
<div class="column">Dr Parker explains, “If there was a strong market for land before the bushfire and the bushfire only affected a small proportion of properties in the area, there was almost no effect [on the land value]". </div>
<div class="column"> </div>
<div class="column">Looking at the 2013 Blue Mountains bushfires, land values dropped between two and six per cent due to damage to relatively few properties but sustained high levels of demand in the region, ergo property prices after the event created many vacant blocks for sale. </div>
<div class="column"> </div>
<div class="column">However, on the flip side, there was an 11 to 33 per cent drop in land values after the 2017 Sir Ivan bushfires in the Warrumbungle local government area. </div>
<div class="column"> </div>
<div class="column">Dr Parker explained, "areas where demand is low and a high proportion of properties of land was destroyed, you saw the biggest impact on values. </div>
<div class="column"> </div>
<div class="column">"When you think about it, they're the people who need the most help. Their lives have been destroyed."</div>
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j.ballantyne1990-6AQqhLzZaK

NSW land values dropped by up to 33 per cent after bushfires

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<p>Community Housing Providers (CHPs) will have greater contractual certainty, to enhance the delivery of social housing outcomes, via new initiative by the NSW Government.</p>
<p>A change in contractual arrangements offered by the NSW Land and Housing Corporation (LAHC) will open the door for CHPs to transition from existing three-year general social housing leases, to 20-year leases on their LAHC owned portfolio.</p>
<p>NSW Minister for Water, Property and Housing Melinda Pavey announced the initiative today by opening an Expression of Interest process, calling for applications from interested CHPs.</p>
<p>A staged implementation process will initially focus on Tier One CHPs that express interest in taking-up the 20-year leases, for which LAHC will review and determine their eligibility to transition around 14,000 properties to 20-year leases.</p>
<p>Stage two will see a review of the suitability for Tier Two and Tier Three CHPs to transition to 20-year leases, covering approximately 1400 properties.</p>
<p>Minister Pavey said this significant increase (about 570 per cent) in the prescribed time-frame for leases will provide greater certainty in contractual obligations between LAHC and CHPs.</p>
<p>Mrs Pavey said, "a 20-year lease will enable CHPs to consider leveraging more secure longer-term revenue streams, to grow their portfolio, employ more people and engage with financiers and investors, to ultimately deliver higher quality homes.”</p>
<p>Minister for Families, Communities and Disability Services Gareth Ward said this initiative followed the successful transfer late last year of 14,000 properties to nine CHPs, under the Social Housing Management Transfer program.</p>
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NSW Government initiative to increase social housing leasing periods

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<p>Beauxbatons Manor, the castle-like residence just outside of the <span>Dandenongs in outer Melbourne, has hit the market for the first time in over 16 years.</span></p>
<p><span>The stately home in </span>Sassafras, near Olinda some 45 kilometres east of Melbourne, last traded for $1.18 million in 2003.</p>
<p>Now the 2,550 sqm estate is up for sale with a suburb record guide of $2.6 million to $2.86 million through Bell Real Estate Olinda agents Corinne Sukroo and Jo Hirst.</p>
<p>Through a main entry with wide stone stairs, flanked by bronze Hellenistic sculptures, past garden rooms, conifers and a pond, is the front porch, with Gothic influenced windows, doors and pointed arches.</p>
<p>Immediately is the central timber and cast iron stairway. </p>
<p>On the ground level is two master suites, each with their own ensuites, split by a casual sitting room with fireplace and bar nook, with French doors leading to a terrace with garden views.</p>
<p>The main living space is upstairs. There's original wood panelling in the living and formal dining rooms. The dining room features a Trompe l'oeil painting spanning a whole wall.</p>
<p>There's a further two bedrooms on this level, as as well as a mezzanine alfresco patio. Up the stairs is a cinema room. </p>
<p>Sassafras' biggest residential sale came two years ago when a four bedroom home on 7,685 sqm sold for $2.3 million.</p>
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jrobinson-rf4aSBido9

Beauxbatons Manor, Sassafras estate hits the market 

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<p>REIV President Leah Calnan says the Victorian Property Market achieved record-breaking growth prior to the outbreak of Coronavirus.</p>
<p>During the March Quarter metropolitan, houses soared to a new record height, eclipsing $890,000 for the first time, a 3.7 % growth on the previous December 2019 quarter.</p>
<p>Metropolitan Units followed this strong trend reaching over $640,000.</p>
<p>Records were smashed in the Outter Melbourne region with both Houses and units reaching new high values.</p>
<p>While Inner and Middle Melbourne, the price of units grew to new heights and even outperformed the growth of houses in those regions.</p>
<p>Growth continued evenly across regional Victoria with gains in both units and houses. Greater Bendigo has fared very well featuring five suburbs in the list of top 20 suburbs for quarterly growth for regional Victoria.</p>
<p><img src="https://www.urban.com.au/images/2020/4/24/Melb%201.JPG" alt=""></p>
<p>REIV President Leah Calnan said the March Quarterly Medians shows that the Victorian property juggernaut was in peak form before the outbreak of Covid-19</p>
<p>“2020 has been an amazing year for real estate; property values have reached new heights across the state during January, February and March.” Ms Calnan said.</p>
<p>“Investors in the Victorian property will be thrilled with these figures, units and houses have soared in value; our market is in red hot form.”</p>
<p>“Our local market is strong and resilient; buyers from across the globe are have shown great interest in Victoria.”</p>
<p>“Everybody wants to get in on the action; we were regularly getting over 1000 homes sold at auction over a weekend, competition for houses in Victoria remains strong.”</p>
<p>“In chaotic times such as we are battling now, it is a much welcome relief to be able to see some good news, Victorian real estate is in great condition.”</p>
<p>“Our industry is strong, and we will survive Coronavirus, the desire for Victorian real estate is high when this over we look forward to more fantastic results,” she concluded.</p>
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Victorian property market was in peak form pre-coronavirus: REIV

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<p>Demand for agricultural property is up, Ray White found with Brymay at Lot 8 Tumut Plains Road, Tumut, NSW the latest example.</p>
<p>The holding attracted 11 registered bidders and sold for $185,000 over reserve at online auction.</p>
<p>It was a competitive auction seeing 34 bids before finally selling for $785,000.</p>
<p>"I've been in the real estate game for 21 years and I can honestly say the last week has been the second busiest in terms of sales that I've ever had," said Ray White Tumut Principal Ray Piper.</p>
<p>"Agricultural land is becoming more and more popular, and even though this property wasn't presented as the best, buyers could see beyond the mess because of the potential and the fact it's in a high rainfall area.</p>
<p>"Despite the restrictions and limited access to the property, we still attracted 21 people to private inspections, and over half of them registered to bid.</p>
<p>"The auctioneer Alex Pattaro was excellent because he took the time to sit down and take us through how the online auction platform worked.</p>
<p>"We logged on as the whole team one evening to run a mock auction so we really understood the process and could ask/answer any questions ahead of the auction.</p>
<p>"It's a great tool for future business and our office actually sold two from two today using the online auction platform."</p>
<p>Ray White NSW Chief Auctioneer Alex Pattaro (above) said this was an excellent result and there was a sense of growing positivity around online auctions.</p>
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Brymay, Tumut agricultural holding sold 30% over reserve at online auction

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<p>Building sustainably should be at the forefront of all building development. However, with a multitude of financial obligations, it can become a 'nice-to-have' rather than a 'must-have' for many developers. If we're to meet global carbon reduction goals over the next 10 to 20 years, we really need to see this paradigm shift.</p>

<p>With experience in both finance and property, Matt Khoo has a knack for finding the perfect balance between investing in sustainable building materials, selling homes at an affordable price and still maintaining the profitability of his business. How? There's no clear-cut formula, but Matt shared with us some valuable insight into how he measures the feasibility of ICD Property's projects.</p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/JWmKCZr9DgQ" width="660"></iframe></p>

<p><em><strong>Interviewee: </strong>Matt Khoo, Managing Director at ICD Property </em></p>

<p><em><strong>Journalist:</strong> Urban Editor, Olivia Round</em></p>

<p>Key talking points:</p>

<p>0:29 - How Matt got into property and finance</p>

<p>1:34 - Risk in property development</p>

<p>1:48 - How sustainable design enhances the lives of residents</p>

<p>4:17 - Incentives for developers to build sustainable developments</p>

<p>5:40 - Roadblocks for developers to create sustainable developments</p>

<p>7:21 - Do buyers want sustainable homes and services?</p>

<p>9:12 - Future sustainable initiatives ICD Property are going to be rolling out</p>

<p>10:04 - Finding the perfect balance between building sustainable homes which are affordable, whilst also maintaining the profitability of your business</p>

<p>12:26 - How to communicate to buyers the value of paying more for a sustainably built home</p>

<p>13:41 - Increased buyer interest in sustainable homes (in recent years)</p>

<p>14:21 - Challenges of building large-scale sustainable projects</p>

<p>16:05 - How does living sustainably extend beyond "going green" (recycling, solar etc.)</p>

<p>17:35 - Creating a sustainable investment</p>

<p>18:36 - Matt's view of what the national benchmark should be for sustainability in Australia</p>

<p>20:57 - The value of investing in extra amenities such as garden areas</p>

<p>22:12 - How Matt would like to see Australia's housing look in 10 to 20 years time</p>

<p><em>Lead image: Matt Khoo, Eq. Tower. Credit: Elenberg Fraser.</em></p>
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ICD Property's Matt Khoo discusses the cost of sustainability in property development

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<p>Recently we had a chat to ICD Property's Development Director Alice Smith about how ICD is adapting as a result of COVID-19, advice for buyers looking to purchase in the current market and the future of property in Australia once COVID-19 is over. </p>

<p><strong>Urban.com.au: What are the key changes ICD Property has noticed in the market as a result of COVID-19?</strong><br>
 <br>
Alice Smith: As COVID-19 continues to develop as do the changes we’re seeing in the <a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">property market</a>. For instance, due to Government restrictions that came into place quite early encouraging people to stay home, one of the first changes we noticed in the property market was lower foot traffic in display suites and sales centres. <br>
 <br>
Due to more people staying indoors. In response, however, online <a href="/guides">property listings</a> started experiencing an upward trend of visitation. Similarly, project websites and requests for information online such as brochures, pricing lists, etc. have become more popular and seen more demand.</p>

<p><strong>U: How is the business pivoting its strategy to account for the current restrictions surrounding social distancing and isolation requirements?</strong><br>
 <br>
AS: The number one priority for us at the moment is the health and safety of our staff, partners, consultants, and purchasers. And we’ve taken appropriate actions to protect all these groups whilst upholding the Government’s <a href="/guides/covid-19-is-it-possible-to-practise-social-distancing-at-home-absolutely">social distancing requirements</a>. For instance, last Wednesday 15 April marked 5 weeks of all <a href="/developers/icd-property">ICD Property</a> staff working from home. <br>
 <br>
The leadership team decided quite early in the best interest of our staff and those we work with, we would implement a few rules including: a travel ban eliminating staff requirements for any domestic and international work-related travel; and indefinite work-from-home for all staff. We also immediately transferred all in-person meetings with partners and consultants to digital video call meetings to protect those we work with too. In relation to purchasers, we minimise the number of people in our sales centres and display suites at any one time by changing their opening hours to be by private appointments only. <br>
 <br>
On top of increasing the cleaning of these sites to include regular additional hospital-grade sanitation. We’re now focusing on doing everything we can to ensure we’re fully able to service our purchasers and other stakeholders with the best remote customer service experience as they would experience in person. Another way we’re doing this is by offering purchasers video-call conferences with sales agents across all our projects so they’re able to still take them through marketing brochures, available stock, and find the perfect future home.</p>

<p><strong>U: What advice do you have for buyers who are considering buying property in the current market?</strong><br>
 <br>
AS: Of course there’s never one umbrella piece of advice to apply to everyone, so I think my biggest piece of advice for buyers right now would be to <a href="/expert-insights/buying/is-buying-new-the-right-move-in-2020-a-perspective-from-a-property-strategist">assess what is right</a> for them in their situation. Short, medium and long term. Of course, the record low RBA cash rate cuts that we’re starting to slowly see be passed through the banks means purchasers at the moment can take advantage of some of the cheapest mortgage interest rates we’ve ever seen. Or that we’ve seen in a long time. <br>
 <br>
It can be enticing and further assist those who are wanting to purchase their <a href="/guides/how-to-buy-a-house-in-2021-a-guide-for-first-time-home-buyers">first property</a> by cutting a bit off their monthly repayments. It’s also advantageous to those wanting to refinance their current home or investment property. Staying on top of market news and having a good understanding of your own personal position is my best tip for property purchasers at all times, not just in this new COVID-19 environment.</p>

<p><strong>U: What extra precautions is ICD Property taking to ensure the health, safety, and wellbeing of their staff and clients?</strong><br>
 <br>
AS: As previously mentioned, we are enforcing social distancing by implementing indefinite work from home. However, of course, we understand working from home can be difficult for some people who lack the right equipment or perhaps have children. To help transition staff into their new working environments, ICD Property’s incredible HR team Hayley Randall and Laura Burgess quickly conducted formal work-from-home surveys to assess the functionality and safety of each staff’s environment. They then went on to provide additional equipment such as monitors, keyboards, mouses, ergonomic chairs, internet, etc. to those who needed it.<br>
 <br>
On a company level we’ve cancelled all corporate events including training, speaking opportunities, marketing events, and the like. It’s important to us that if we aren’t asking our staff to attend business travel and events, then we aren’t asking our consultants to do the same. We’re also ensuring all our construction sites stay up-to-date with Government guidelines such as social distancing rules. Which is something that continues to change and we monitor each day.<br>
 <br>
Acknowledging that this time can be tough for some and lead to feelings of isolation and being disconnected, we’re implementing a lot of things to keep up staff morale, culture, and mental wellbeing including:</p>

<ul>
<li>Bi-weekly confidential phone call check-ins with HR</li>
	<li>Online group training sessions with experts in the fields of resilience, stress management, health, and the like.</li>
	<li>Replicating an in-office setting as much as we can with the online program ‘Discord’ which allows us to set up virtual rooms and have casual online conversations like we would in the office (for example, we have created a ‘Kitchen’ room for people to have their morning coffee in and most mornings you can find multiple staff in their having a morning chat before they go on with their work).</li>
	<li>Maintaining one of our oldest traditions which is doing The Age’s daily super-quiz in the kitchen by now doing it every Monday – Friday on video conference together and sharing lunch.</li>
	<li>Friday 5pm virtual games and drinks to ease into our weekend and catch up. We also use this as an opportunity to share positive news across the company such as milestones, achievements, and praising one another.</li>
	<li>Encouraging all staff to once a week get on a phone/video call with someone else in the office just to catch up and keep one another company.</li>
	<li>HR team doing lots of surveys across multiple fields such as the safety and user-friendliness of each staff’s home office (and providing equipment where needed such as monitors, wifi dongles, etc.), mood/mental wellbeing of staff, etc.</li>
	<li>Regular updates from the leadership team to reassure staff of the company’s position and create some transparency and certainty for staff</li>
</ul>
<p><strong>U: What support are you hoping to receive from advocacy groups such as the PCA and UDIA, and the Australian Government?</strong><br>
 <br>
AS: It’s difficult to pinpoint any one outcome as the situation is constantly evolving. What we’d hope to see is advocacy groups and the Government working hand-in-hand for the best outcome of all Australians. Which we’re already starting to see the beginnings of with advocacy groups and Government meeting regularly and sharing their mutual interests to stimulate the economy and keep people in jobs as much as possible. ICD Property’s Deputy Managing Director, Sal Quah, is actually a Property Council of Australia member of their Future Directions committee and hopefully through that relationship ICD will be able to provide some assistance and leadership to the industry as needed.</p>

<p><strong>U: What are you planning as a business once COVID-19 restrictions are lifted?</strong><br>
 <br>
AS: To date, we’ve been business as usual (understanding that times are very much unusual) and of course, there have been necessary pivots and methods of adapting, but we will continue to be flexible to the changing environment and innovate our approach as needed. I’m sure once COVID-19 restrictions are lifted and it’s safe to return to work and we’re in a safer environment, ICD Property will have all staff get together and share many high-fives to celebrate coming out the other end of this stronger.<br>
 </p>

<p><strong>U: How do you think this experience will change the way the property market in Australia operates moving forward?</strong><br>
 <br>
AS: Although this is a challenging time for all Australians, it’s also an opportunity for us to band together and grow stronger. Companies are demonstrating their strength and resilience and Australians are, in our very quintessential Australian way, rallying behind businesses. In property specifically, a lot of developers right now are looking into providing as much online material to purchasers as they can. Due to the stay-at-home restrictions. Where we previously might not have seen all projects have display suite videos or virtual apartment tours online, we’re seeing an increased demand for this from purchasers. They want to access information online from the convenience and safety of their homes. Although this is obviously a current trend in response to COVID-19, it may be something that continues into the future. I think the overall heavier use of technology and innovation will be one positive thing that affects our industry into the future as a result of COVID-19.</p>

<p><em>Lead image: Render of ICD Property's latest redevelopment project, City Tattersalls Club in Sydney.</em></p>
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ICD Property's Alice Smith discusses the future of Australia's property industry after COVID-19

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<p>Sydney’s real estate prices were the sturdiest in March, with prices in most capital cities subdued and heading towards decline, according to the latest quarterly analysis from Domain.</p>
<p>According to the report, Sydney house prices rose 13.1%, to $1,168,806, in the year ending March 2020. </p>
<p>There was 2.6% in the March quarter.</p>
<div data-sticky-id="0">Melbourne’s median house price is expected to fall after it reached a record high of $918,350 in the March quarter.</div>
<div data-sticky-id="0"> </div>
<div data-sticky-id="0">Sydney, Hobart and Melbourne saw the largest price increases for the March quarter, the Domain House Price Report calculated. </div>
<div data-sticky-id="0">
<div>
<div id="adspot-1x1-pos-5" data-google-query-id="CMLesM-8_egCFUyDcAodNrYAQA">
<div id="google_ads_iframe_/31694718/domain.com.au/news/national_3__container__"><iframe title="3rd party ad content" name="google_ads_iframe_/31694718/domain.com.au/news/national_3" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" width="1" height="1" data-google-container-id="4" data-integralas-id-a73f0d96-8a5a-4636-76da-5b5e87cd399b="" data-load-complete="true"></iframe></div>
</div>
</div>
<div>Darwin, Canberra and Brisbane recorded house price gains between 0.3 and 1.2 per cent.</div>
<div> </div>
<div>Prices in Perth and Adelaide were flat.</div>
</div>
<p>The unravelling coronavirus crisis, however, has taken its toll on the market, with a shutdown of non-essential services, and a temporary ban on onsite auctions and open inspections, taking effect in late March and early April.</p>
<p>The number of homes on the market fell.</p>
<p>Between March 23 and April 10 new sale listings dropped 12 per cent compared to the same period last year, Domain’s figures show.</p>
<p>More than 14 per cent of vendors have since revised their price expectations, reducing them by an average of 4.36%.</p>
<p><img src="https://www.urban.com.au/images/2020/4/23/house%20prices.png" alt=""></p>
<p>In the March quarter Sydney maintained its status as Australia's most expensive capital city for residential real estate, with a median house price of $1,168,806 and a median unit price of $744,672.</p>
<p>Melbourne and Canberra rounded out the top three - Melbourne holding a median house price of $918,350 and a median unit price of $554,306, and Canberra holding a median house price of $779,050 and a median unit price of $441,055.</p>
<p>Canberra, however, saw significantly weaker growth quarter-on-quarter than Sydney or Melbourne. The nation's capital saw house prices grow just 0.3% (compared to Sydney's 2.6% Melbourne's 2%), and saw unit prices drop a substantial 5.2% (compared to a growth of 2.7% in Sydney and a 0.4% contraction in Melbourne).</p>
<p>In Darwin house prices grew by a respectable 1.2%, however the value of units plummeted by  8.1% - The highest margin in the nation.</p>
<p>The drop is part of a massive 16.2% year-on-year nosedive in Darwin's unit market.</p>
<p>Sydney saw the most quarterly grows in houses at 2.6%, however Adelaide topped the list for units with a growth of 4.2%.</p>
<p><img src="https://www.urban.com.au/images/2020/4/23/unit%20prices.png" alt=""></p>
<p>In Domain’s February forecast for the year ahead, a combined average growth of 8% was predicted for houses in Australian capital cities during 2020, with a further 5-7<sup>% </sup>growth projected in 2021.</p>
<p>Sydney topped this list, with a projected 10% growth in 2020 (and 6-8% in 2021), while Hobart and Adelaide were at the bottom of the list with a projected growth of just 3% in 2020 (and 2-4% in 2021).</p>
<p><img src="https://www.urban.com.au/images/2020/4/23/feb%20forcast%20house.png" alt=""></p>
<p>For units, a combined average growth of 6% was predicted across Australian capital cities during 2020, with a further 3-5<sup>% </sup>growth projected for 2021.</p>
<p>Sydney had the highest projected growth in 2020, at 8% (with 3-5% predicted for 2021).</p>
<p>Hobart saw the least expected growth, at just 2% (with 1-3% predicted for 2021).</p>
<p><img src="https://www.urban.com.au/images/2020/4/23/feb%20forcast%20unit.png" alt=""></p>
<p>The rapid development of the coronavirus and the ensuing economic fallout, however, have thrown these projections into uncertainty. </p>
<p>Dr Nicola Powell, the senior research analyst at Domain, said that the pandemic was weighing heavily on sellers’ minds.</p>
<p>“Those who have to sell are editing their price to achieve the timely sale in fear of what could be ahead economically,” Dr Powell told Domain.</p>
<p>“The recovery was well on its way before coronavirus. Houses had regained the majority of the $165,000 loss in the downturn. Units had regained about $62,000 of the $103,000 lost in the downturn.</p>
<p>“When the market is moving and moving rapidly, those asking prices need to meet the market. We’ve seen the market flip in March.</p>
<p>“It’s almost a given we’re going to see fewer transactions. The fact we’ve got wage subsidies, mortgage repayment holidays and low interest rates will help support prices.”</p>
<p>Dr Powell said it was unclear how far prices would drop in months to come.</p>
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