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

Joel Robinson

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

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

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

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

Bottega House secures landmark riverfront site in St Lucia 

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

SIERA kicks off construction at Northcliffe tower Exhale

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

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

Boutique Perth developer ADC has unveiled its latest project.

The developer, which focuses on bringing apartments to some of Perth's most premium inner-city and riverside suburbs, has launched <a href="https://www.apartments.com.au/new-apartments/mos-lane-mosman-park-46-manning-street-mosman-park-wa-6012">Mos Lane</a>, 68 luxury apartments and townhouses in the heart of <a href="https://www.apartments.com.au/developments/mosman-park-wa-6012">Mosman Park</a>.

<section data-scroll-anchor="true" data-testid="conversation-turn-124" data-turn="assistant" data-turn-id="request-69e027bc-1530-839b-a316-e9dad2cbd4d9-34" dir="auto">
Alongside the one-, two-, three- and four-bedroom apartments, the development will also include five two-level townhomes and two luxe penthouses. ADC is also introducing a significant retail offering for residents through Mos Lane Village, which will feature a wellness studio, fish and chips shop, barber, and florist, adding a layer of amenity not typically found in the predominantly residential Mosman Park area.

Construction has already commenced on the project, which sits just a short walk from the Swan River, Mosman Park Bowls Club, and Mosman Park Golf Course.

House Agency Directors Tom House and Lachlan McDonald say they are fielding the majority of buyer interest from local downsizers, as well as buyers with a long-standing affinity for Mosman Park.
</section>

[smartcode_project:default project_id=148957 project_image_fid=364591]

Mos Lane will comprise two buildings; Samson House and Manning House, which have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/nelson-koo">Nelson + Koo</a>, an emerging design consultancy specialising in the masterplanning and design of mixed use places and spaces.

The two buildings adopt distinct architectural responses to their surroundings. Manning House references the strong roof forms of nearby homes, with floorplates oriented to maximise light and long-range views, while Samson House is organised around a central atrium designed to bring daylight deep into the building and create a greater sense of openness.

At ground level, the inclusion of five townhomes introduces a typology more commonly associated with Mosman Park’s established streets, each with private courtyards and direct frontage, offering a transition between traditional housing and apartment living.

[smartcode_project:default project_id=148957 project_image_fid=364103]

Interiors have been led by Melbourne-based Hecker Guthrie, with an emphasis on practical, long-term liveability. Residences incorporate sculpted joinery, generous storage and flexible multi-purpose rooms that can adapt to changing household needs, whether for working from home, guest accommodation or additional living space.

Material selections draw on a restrained palette of textured stone, timber and neutral tones, with options for lighter or darker schemes. Detailing such as fluted glass, full-height joinery and integrated appliances is intended to balance functionality with a more refined residential finish.

Outdoor spaces are a consistent feature across the development, with balconies and terraces designed for dining and entertaining, and larger apartments incorporating outdoor kitchens. Orientation has been considered to allow residents to choose between morning or afternoon sun, while mature street trees and landscaped communal areas contribute to a softer streetscape.

[smartcode_project:default project_id=148957 project_image_fid=364107]

Shared amenities are positioned to support both day-to-day convenience and occasional use. These include a private dining room with a caterer’s kitchen, alfresco entertaining areas, and a bookable guest suite for visiting friends and family. Additional practical features such as a resident workshop, storage facilities, car and pet wash areas, and concierge-style services for cleaning and dry-cleaning collection reflect a focus on usability.

Positioned between the Swan River and Cottesloe Beach, and within reach of schools such as Iona Presentation College and St Hilda’s Anglican School, the development is aimed at a broad buyer group, from downsizers seeking a lower-maintenance alternative to larger homes, through to local residents looking to remain in the area in a different housing format.

Mos Lane represents one of the more significant additions to Mosman Park’s limited pipeline, combining new housing supply with a village-style retail centre in a suburb where opportunities for large-scale redevelopment are relatively constrained.

[smartcode_project_cta:default project_id=148957]

Living village precinct set for Mosman Park as ADC launches Mos Lane

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A local real estate agency involved in the advertising of a Cookernup property and a Pelican Point home has had his “not guilty” plea upheld, after an appeal made against a Bunbury magistrate’s decision.
The Supreme Court dismissed the Commissioner for Consumer Protection’s appeal against the agent regarding a case of potentially misleading advertising of the two separate property listings. The result was released this week.
The real estate agency in question was Barr and Standley, and there were six respondents of the appeal - all associated with the agency.
The first charge involved the January 2012 advertising of a <a target="_blank" href="/news">Cookernup</a> property, that said it was located in <a target="_blank" href="/news">Harvey</a>. The existence of an interactive map on the online advertisement was enough, ruled by the judge to sufficiently qualify the location of the property.
The property, advertised as "47 Hardwick Street, Harvey" was said to be not strictly misleading by Justice Jeremy David Allanson, of the Supreme Court WA. The home, a four-bedroom, two-bathroom house, was asking for $535,000 plus.
The prosecutor opened the appeal by saying that consumers wishing to find a property online use search terms to the narrow the field, most commonly by location and price.
"Once a property is displayed on the website by the agency, any member of the public can locate the advertisement while searching online for properties to purchase under the search terms of 'price' and 'location'. It is the content entered by Barr and Standley in relation to a particular property that dictates the content of the online advertisement seen by the consumer.
"Price and location are specific fields on the web page that require data entry at the time the property listing is created by Barr and Standley. A property advertisement on the web page will have the location in prominent font at the top of the first page with the price underneath and it is then possible to scroll down to read a more detailed description of the property features or characteristics," the prosecutor said.
The prosecution also alleged that it was initially advertised in the correct location for three weeks, but was then changed to Harvey.
Rhys Standley, from the agency, said that few people knew of the township and it would generally be referred to as "being near Harvey".
Justice Allanson said that the representation was, as a result of the Google map inclusion, not strictly misleading. It took the buyers to the true location, some 12 kilometres from Harvey township but within the Shire of Harvey.
The second charge revolved around a listing of a <a target="_blank" href="/news">Pelican Point</a> property between January to April 2012. The complaint had been made to the authorities by another real estate agent.
The home was first advertised for $2.2 million to $2.5 million, and later altered to $1.5 million to $2.5 million, despite the owner saying they would not accept anything below $2.2 million.
Jay Standley, from the agency, said: "I think they would put a range on it where the bottom end would be market value and you would endeavour to get as much as we can."
He further said that while vendors will say they will not take under a certain amount, and buyers will say they won't pay over a certain amount, the reality is very different.
The respondents said that: "A certain amount of 'puffery' is to be expected to attract potential purchasers in the real estate market."
Justice Allanson said that Magistrate Langdon erred in coming to the conclusion, but did not look to a guilty verdict. This was due to a lack of evidence presented in support of the charge that would show how the audience would have responded to the advertised price range.
The defences case used arguments that the price range was agreed to by the owner. This was rejected by Justice Allanson.
The notion that it was widespread practice by Bunbury agents and that the lower price was based on market value were also rejected notions.
Commissioner for Consumer Protection, Anne Driscoll, said that despite this dismissal, it does not remove the legal requirements not to mislead buyers.
“The original magistrate’s decision and the subsequent dismissal of our Supreme Court’s appeal are judgments made on the specific circumstances and the evidence presented in this particular case,” Driscoll said.
“It should not be taken by the industry as a licence to advertise a property as being located in a more desirable nearby suburb, or advertised at a price that is not actually acceptable to the owner.
“The overarching principle of the Australian Consumer Law is that advertising must be fair and accurate, and not misleading. Consumer Protection will continue to enforce the law in relation to false and misleading representations and ‘bait’ advertising, and we will take action if there is evidence that these laws have been breached.”
jduke@propertyobserver.com.au
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jduke-EHk3XBmHkn

WA agent found "not guilty" after advertising home in wrong suburb: Consumer Protection

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Singapore listed group Hiap Hoe has extended its presence in Australia, this time acquiring an A-grade building in Perth for $90 million. 
The off-market transaction, at 130 Stirling Street (pictured below), is the fourth purchase undertaken by Hiap Hoe in Australia and is the biggest sale in Perth since May 2013. 
<img alt="130_Stirling_St_2" height="353" width="470" src="/images/stories/2014/02/19/130_Stirling_St_2.jpg">
The 5,033 square metre site was held in a Charter Hall syndicate. 
The sale was negotiated by Paul Craig and Miles Rowe from Savills Perth office.
Savills managing director of Western Australia, Paul Craig, noted that the sale signalled the entry of a major new international investor in Perth, which "represents a strong vote of confidence in the property fundamentals and future outlook for the market". 
Since making its first foray in 2013, Hiap Hoe has acquired three Melbourne CBD assets: 6- 22 Pearl River Road; 380 Lonsdale Street and 206 Bourke Street. 
The Perth acquisition is said to be in line with the company's strategy to build up a strong geographical presence in Australia with a diversified portfolio of income – generating assets. 
The seven-storey building has a net lettable area of 12,349 square metres. 
Hiap Hoe executive director, Tracy Wun, said: “130 Stirling Street enjoys a strong occupancy of 97.7 per cent with a weighted average lease expiry of 5.71 years.”
"Moving forward, Hiap Hoe will continue to opportunistically expand our regional real estate portfolio as we remain focused on quality investment assets with attractive yields just as 130 Stirling Street.”
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Hiap Hoe splashes $90 million on A-grade Perth building

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Perth is now a key player in global commercial office markets. A growing list of multi-national companies are locating in Perth resulting in a wave of new office construction in the CBD and key suburban centres. This is creating exciting development opportunities and challenges asolder buildings compete with new offices for tenants.
The Property Council of Australia’s latest Office Market Report illustrates the scale of new office development happening in Perth and the emerging challenges. In the six months to January 2014, the Perth CBD office vacancy rate rose from 6.9 to 9.0%. This rise is linked to the slowing down of the mining investment boom and the corresponding decline in demand for office space by mining companies and businesses providing mining services.
However, while the overall vacancy rate may have risen, the demand for premium grade offices in the CBD has actually strengthened, which is evidence that the commercial office market is sorting itself as businesses move into new office towers and the space they left behind is filled.  It is worth noting that all new major office developments in Perth today are pre-leased before construction, which ensures that the speculative building booms of previous decades that lead to blow-outs in vacancy rates is not repeated.
Another factor that will support the Perth office market is the continuing presence of multi-national companies like resource giants BHP Billiton, BP, Rio Tinto, Woodside, Chevron and Shell.  And while growth in investment in the iron-ore sector is slowing it is expected that investments in LNG projects will continue to generate positive demand for office space.
It is not just resources-based companies that call Perth home. Local-grown success Wesfarmers has their corporate headquarters stationed in Perth, despite taking over thenational Coles Group conglomerate. The Big Six law firms, as well as the major accounting firms all have large offices in Perth.
Perth has seen an influx of significant investments from major property and construction companies attracted by world-class development projects in and around the CBD, such as the City Link, Elizabeth Quay and Waterfront. The suburbs of Perth are also seeing a raft of new office developments, from Belmont to Subiaco and Herdsman through to Fremantle.
This will provide construction work and inspiration for inner city entertainment and culture, but more new office supplies will inevitably put pressure on older buildings as occupancy rates vary with economic cycles. This in itself may lead to more building upgrades and refurbishments, or even changes of use like hotel conversion and apartments
This all adds up to an exciting time for the commercial office sector.  The size and diversity of Perth’s corporate sector places the office market in the position where it can cope with the challenges and benefit from the opportunities that arise better than ever before.
Joe Lenzo is executive director of <a href="https://www.propertyoz.com.au/" target="_blank">Property Council of Australia</a>, WA division. 
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Growing waves of office construction as Perth commercial property comes of age

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Three strata factory units at Maddington in Perth’s south-east have fetched a combined 1.17 million.
The three units, located at 2-4/20 Alloa Road, were each sold for $390,000 and according to selling agent Jeremy Parasiliti of Ray White Commercial Perth, the properties sold within weeks of being listed for sale.
The units ranged in size from about 200 square metres to 221 square metres.
“The properties are located just 18 kilometres from Perth’s CBD in a popular industrial region which is scheduled for further expansion under plans prepared by the city of Gosnells", said Mr Parasiliti.
<a target="_blank" href="mailto:news@propertyobserver.com.au"> </a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
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Three Maddingon, Perth strata factory units fetch combined $1.17 million

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The Western Australian Department of Commerce has announced the finalists for its 10th annual Consumer Protection Awards.
The awards ceremony, which will be held on March 21, will recognise the contributions of individuals and the media to consumer protection in Western Australia.
Anne Driscoll, the commissioner for Consumer Protection, congratulated the finalists, which were chosen from a list of 22 nominees.
"It really is an accolade to get to this stage considering the calibre of the nominations," she said. "It is a milestone as we mark ten years of the Awards. I am very much looking forward to us once again acknowledging the outstanding efforts of consumer advocates."
This year, the Consumer Protection’s Media Award has been renamed the Ruby Hutchison Media Award, recognising the first woman elected to the state’s Legislative Council.
The shortlisted finalists:
Rona Okely Award (for individuals)
<ul>
<li>Gavan Forster of the Master Builders Association, WA has been raising awareness of consumer building issues via a Q&amp;A newspaper column for more than 15 years.</li>
<li>Sandra Brown assisted consumers during her 18 years at the Citizens Advice Bureau and since retiring in 2011 has continued to give community talks about consumer and tenancy rights.</li>
</ul>
Richard (Dick) Fletcher Award (for organisations)
<ul>
<li>Advocare helps receivers of health and aged care services to know their rights and make necessary complaints.</li>
<li>Consumers' Association of WA is a non-profit, voluntary organisation which successfully campaigned for a product safety ban and the introduction of a service to tell car-buyers if there is any money owing on vehicles.</li>
<li>Consumer Credit Legal Service (WA) provides legal advice on consumer credit, banking and finance; particularly to those who are on a low income, vulnerable, disadvantaged or speak English as a second language.</li>
</ul>
Kidsafe WA Award (any contributor to advancement of injury prevention for children)
<ul>
<li>RAC bstreetsmart – a road safety initiative to reduce fatality and injury rates among young people.</li>
<li>Samantha Menezes petitioned for laws to prevent the supply of alcohol to minors without parental permission.</li>
</ul>
Media Award (for journalists and media outlets)
<ul>
<li>David Weber of ABC Radio has produced property scam and romance fraud stories.</li>
<li>Natalie Bonjolo from Today Tonight has exposed dodgy tradespeople and businesses.</li>
<li>Rashelle Predovnik at The Echo Newspaper reports on consumer affairs, including investigations into service providers and safety warnings for shoppers.</li>
</ul>
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
<ul></ul>
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Property professionals among consumer protection award finalists

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Local government boundary reforms being undertaken by the state government are a “one in a hundred year opportunity” to shape the city into the future, according to Lord Mayor Lisa Scaffidi.
Speaking ahead of the City of Perth’s presentation to the Local Government Advisory Board, Scaffidi said that they have been looking closely at the local government reforms achieved in other cities.
“It is clear from the experiences in strong leading cities like Melbourne and Brisbane that it is essential to incorporate all major infrastructure and significant inner city precincts into the boundaries of a capital city,” said Scaffidi.
“Our efforts are focused on shaping a strong capital city so we can strongly promote and show our city to the rest of the nation and the world as we champion our various key industry sectors and attract more investment opportunities.”
Town planning and boundary changes were <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/stand-by-for-australias-town-planning-revolution-terry-ryder/2014010667091">tipped by observer Terry Ryder as being the factors investors should watch for 2014</a>, with the changes potentially providing opportunities for capital growth. Zoning and development changes will be the key factors to keep your eyes open for.
The council suggests just small amendments to the state government’s proposed boundary changes that were announced last year in November.
Belmont Racecourse and the Burswood Peninsula were suggested for inclusion within the City’s boundaries, as well as Kings Park, the University of WA, QEII Medical Centre, Hollywood Hospital, Crown Perth, Medibank Stadium, NIB Stadium and the new Perth Stadium.
“Under the proposed changes by the state government, what would normally be considered key capital city infrastructure would be dispersed around various local governments. This dissipates the role of the capital city” she said.
“That’s not conducive to effective planning and it stifles coordinated development.”
The inclusion of the northern part of the City of Vincent within Perth’s boundaries is also said to be less than ideal due to its suburban nature.
Instead of considering the entirety of the City of Vincent, as suggested in a proposal submitted to the Board in November 2013, Scaffidi recommended that areas such as West Leederville and Subiaco be considered instead due to proximity to the CBD.
This supplementary submission will be presented next week, on February 19. <a target="_blank" href="https://dlg.wa.gov.au/Content/LG/AdvisoryBoard/CurrentInquiries/MetroInquiries.aspx">Public submissions on the boundary changes are being sought</a> until 13 March 2014.
Other proposals included the City of Fremantle remaining as a separate entity, the majority of Mount Lawley remaining within the City of Stirling, the northern section of the City of Cockburn to be transferred to the Cities of Fremantle and Melville and the northern section of the Shire of Serpentine Jarrahdale to be transferred to the City of Armadale, with the southern section to be sent to the Shire of Murray.
Previously, the <a target="_blank" href="https://www.propertyobserver.com.au/news/merge-between-city-of-fremantale-and-east-fremantle-at-core-of-reform-submission/2013101065635">argument to merge the City of Fremantle and East Fremantle was central to the discussion</a>, with the aim to strengthen the activity centres.
In July last year, the state government released the model for local government submissions to be proposed by 4 October 2013. This saw 21 local government proposals.
According to the current submission document the expectation is for a submission to the Minister for Local Government for 30 June 2014.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Perth local boundary reforms are a “one in a hundred year opportunity”: Lord Mayor

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The director of MI Constructions (WA) Pty Ltd has appointed a liquidator of the company, following an assessment of their financial position and restructuring alternatives.
The residential construction business, located in Northbridge, Perth, had employed 18 staff and is currently engaged in more than 175 residential building projects within the area. They are said to be at ‘varying stages of completion’.
MI Constructions uses a number of taglines, such as ‘built for life’ and ‘profit from property’, and their website claims that their history as a builder dates back 40 years. They were a Housing Industry Association member.
The building company was receiving building permits from the City of Stonnington as late as October 2013 for sites in Balga.
The liquidator, Avior Consulting, analysed the company’s position and advised that they should stop trade before his appointment as liquidator.
Dermott McVeigh, Avior Consulting’s managing director, said that they are working closely with the director to ensure an outcome is achieved in the best interests of all creditors.
“We are also working closely with the Company’s insurer, QBE, to assist the Company’s customers to lodge insurance claims in situations where they have suffered a loss from the Company’s liquidation,” said McVeigh.
“I have convened a meeting of the Company’s creditors to take place on Monday, 17 February 2014 and I hope to be in a position to provide creditors with more details of the Company’s position then. We have also commenced an investigation into the Company’s failure which we will discuss with the Company’s creditors in due course.”
Currently, it’s noted that the liquidator requires more time to make an assessment of all building projects currently under construction, with investors to be advised.
More to come.
<a target="_blank" href="https://mce_host/jduke@propertyobserver.com.au">jduke@propertyobserver.com.au </a>
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Perth residential construction company, engaged in 175 projects, appoints liquidator

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Perth’s housing market experienced a rebound of activity at the end of last year with sales turnover during the December quarter moving back to the long-term average for the metropolitan area.  The strong sales activity through the December quarter had not slowed and that enthusiastic ‘buyer momentum’ had carried into the New Year.
Sales normally calm down over the Christmas holiday period but that didn’t happen last year. The real-time reporting from our members currently indicates that January will also be a bumper month for turnover.
Earlier analysis by the Real Estate Institute of Western Australia showed the median house price lifting by 4% on the previous quarter, suggesting 2013 would end up with growth of at least 7% across the year.
However, real-time sale data from REIWA agents indicate that the quarterly growth was closer to 6% and pushing Perth’s median house price towards $545,000 through 9% annual growth.
This has largely been driven by two key factors. The number of first home buyers has dropped 12% since the June quarter with a  notable fall in sales under $400,000, while at the same time there was an increase in sales over $600,000. Together, this compositional change in sales acted to pull the median price upwards towards the end of the year.
I think the fall in turnover with sales under $400,000 has largely been a reaction to both low levels of housing stock and also affordability pressure on some first home buyers.
The number of houses and vacant lots on the market is below average by about 3,000 properties and this is increasing demand on the available stock.
First home buyers
 
Strong first home buyer activity had been a significant market driver over the past 18 months, although applications for established homes dropped away by 12% in the December quarter.
Data from the Office of State Revenue show there were approximately 5,330 first home buyers in the December quarter paying a median purchase price across the state of around $433,000.
However, countering the drop in demand for established homes was a 9% lift in applications for new buildings following the state government’s increase in grants for first home buyer construction.
Entry-level activity had prompted an increase in trade-up sales as relinquishing owners sold to first time buyers.
The City of Fremantle dominated house price growth for the quarter with the western part of the City of <a href="/news">Stirling</a> also doing well.
Across the whole year price growth was strongest in the City of <a href="/news">Belmont</a>, while the cities of <a href="/news">Fremantle</a>, <a href="/news">Gosnells</a>, the western suburbs and the northern end of <a href="/news">Joondalup</a> were close behind with growth exceeding the metropolitan average of 7%.
Units
The sales of multi-residential properties, such as apartments and villas, dropped a little during the quarter but I feel this was probably a reflection of slowing first home buyers and weak investor interest.
Even so, multi-residential dwelling stock enjoyed good growth of almost 5% for the quarter.
Stock and selling days
At the end of the year there were 8,700 properties on the Perth market, virtually unchanged from the September quarter as sales were quickly replaced with new listings.
It was a similar story with blocks of land, with the metropolitan area finishing the year with 1,115 lots on the market, much as it was in the previous quarter.
Days on market have stabilised around 50 days, well down on the 70-plus days at this time last year but it’s the rental market which is really experiencing a slowdown in activity.
Rental system
REIWA data that during the December quarter the metropolitan vacancy rate grew further to around 3.2% as more than 700 additional rentals came onto the market. That’s up 135% since late 2012 with more than 4,800 rental properties currently available for lease through REIWA member agents
In response to the competition the Perth median rent came down by $10 to $460 per week and representing a drop of $15 per week since the middle of last year.
It seems that the downturn of jobs in the mining sector, as well as many former tenants having now become first home owners, has caused the rental system to relax a little.
Regions
In the regions results were patchy depending on local economic conditions.
The Mandurah-Murray area finished up having a good year with sales turnover but price growth was modest. Rents also lifted by $10 to a median of $380 per week.
Turnover in <a href="/news">Bunbury</a> was up by almost 20% across the year despite a dip in sales for the December quarter, however, prices didn’t move much from September.
In Kalgoorlie-Boulder sales activity has been trending downwards for two years resulting in volatility in the median price.
Geraldton-Greenough also had a weak year with its median price sliding on stagnant turnover. The mid-west city reporting 500 sales for the year, the same number as 2012.
In the Pilbara, the downturn in the mining sector is very apparent in the housing system.
<a href="/news">Karratha</a> sales actually picked up despite annual turnover being at its lowest point in 23 years. With the median house price having dropped across 2013, the improved affordability attracted buyers in the December quarter.
Nearby <a href="/news">Port Hedland</a> is also feeling the effects of the downturn with annual turnover being down by a significant 60%, although rents remain very high at around $1,300 per week.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank" rel="nofollow">Real Estate Institute of Western Australia.</a>
<a href="https://reiwa.com.au/home/default.aspx" target="_blank" rel="nofollow"></a>This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" target="_blank" rel="nofollow">reiwa.com</a>.
 
 
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Perth sales activity rebounds, but rental rates slacken

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Heytesbury Stud, the famous Western Australia stud property founded of the Holmes à Court family, is to cease operating as a commercial breeding enterprise.
The influential thoroughbred breeding operation - launched in 1971 - will sell its yearlings for the last time at this month's Perth Magic Millions sale.
Heytesbury Holdings director Paul Holmes à Court said the Keysbrook stud will shut down, but that the property will be retained by the family.
"It's obviously a difficult decision on a personal level, having watched my father, mother and grandmother develop Heytesbury Stud from scratch," the son of the late Robert Holmes à Court told the West Australian.
"I'm retaining our racing colours, an interest in a new stallion Ouqba and certainly won't be selling the farm, but 2013 was our last breeding season," Paul Holmes à Court told the local paper.
The late Robert Holmes à Court launched Heytesbury four decades ago with the dream of breeding his own Melbourne Cup winner. 
He bought Melbourne Cup winner Silver Knight as the stud's foundation sire and the mare Brenta was among his foundation broodmares.
The mating of Silver Knight and Brenta produced Black Knight, the Holmes à Court owned winner of the 1984 Melbourne Cup, trained by George Hanlon.
<a href="https://www.heytesburystud.com.au" target="_blank">The Keysbrook property</a> (pictured below), one hour south of Perth, has 900 acres.
{yoogallery src=[images/stories/2014/02/03/hey]}
“In some ways, Heytesbury Stud’s closure is the end of an era for the WA industry.  My father did things that had never been done before, and might never happen again,” Paul Holmes à Court added.
For a time, Robert's widow, Janet was Australia's richest woman following his sudden death in 1990. It was in the mid-1990s when Heytesbury Holdings closed its horse-breeding programs at <a target="_blank" href="/news">Wallan</a> in Victoria having received government approval for the subdivision of the 1000-hectare property, 50 kilometres north of Melbourne, into 700 rural residential lots of around 1.2 hectares to two hectares each.
At the time it was expected residential lots are expected to sell in the $80,000 to $90,000 range.
The estate sold in 1997 to developers the Far East Consortium who developed the estate into <a href="https://www.hiddenvalleyaustralia.com.au/home.aspx" target="_blank">Hidden Valley</a> (pictured below), where land is available for sale.
{yoogallery src=[images/stories/2014/02/03/hid]}
By 2008 with 950 broad-acre allotments, along with smaller blocks averaging 1,000 square metres, it was home to more than 400 families with a golf course redesigned by Australian Open golfer, Craig Parry and a modern equestrian centre.
Heytesbury also sold Trelawney Stud, Heytesbury's 172 hectare stud in the Waikato region on New Zealand's south island was sold.
news@propertyobserver.com.au
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Farm not for sale, but Heytesbury, the Holmes à Court Western Australia stud to cease operating

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February is historically the month of the seasonal rebound after the Christmas season’s lull however, despite an expected upsurge, it is expected that sellers will be those profiting from the Perth market next month.
RE/MAX WA's managing director, Geoff Baldwin, said that buyer demand is expected to go to a much higher level again, even with strong momentum being retained through the holiday period.
“Sellers who have been holding off would be well advised to take advantage of this predicted upswing in buyer demand as it historically creates more competition for available listings often resulting in better sale prices and a shorter time on the market,” said Baldwin.
He said that one of the problems <a target="_blank" href="/news">the Perth market</a> is facing is comparatively love listing stock levels, requiring buyers to choose from less and making it advantageous to those who are putting their properties up for sale.
“We have seen buyer demand increase significantly in the second half of January and this momentum is expected to grow as we move into February with the overall outlook for 2014 being very positive for sellers,” he said.
Meanwhile, he urged buyers to act soon to avoid paying more later.
This comes despite results towards the end of 2013 noting softness in the market, with <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/prices-down-rents-down-perth-s-trend-of-decline-continues-david-airey/2013101065602">prices and rents down in October</a>. Following, in December, the Real Estate Institute of Western Australia (REIWA) recorded the <a target="_blank" href="https://www.propertyobserver.com.au/news/perth-median-reaches-a-new-high-while-rents-fall/2013121166794">prices picking up, pushing towards a new record high</a>.
“The main reason for the big rise in sales was that Perth was coming out of a big slump in turnover in the September quarter and had returned to more normal conditions,” wrote David Airey of the market in December.
However, he also noted a recovery of the number of properties on the market from below average levels over 2012 to the highest point for 2013, with REIWA recording 8,656 dwellings and 1,199 lots for sale at the time.
jduke@propertyobserver.com.au
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