Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

Land Value

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The cost of purchasing a plot of land in Melbourne rose 12.4 percent in 2016, buoyed by low interest rates, strong auction clearance rates and population growth, with the trend expected to continue this year.
The latest figures from project marketers red23 add to the strength of the Melbourne property market where house prices surged 15 per cent in 2016 ( CoreLogic), says a recent article in the Australian Financial Review. 
Across the 143 active housing projects tracked by red23, the Melbourne median lot price rose to just under $240,000, though buyers were compensated with slightly bigger blocks of land, with the median lot size rising from 420 to 448 square metres.
Explaining the surge in land prices, Red23's head of research Andrew Perkins was quoted by the AFR as saying, "In 2016, we saw interest rates at an all‐time low, the strongest auction clearance rates since 2009, continued strong population growth, affordability relatively sound in comparison to Sydney and confidence levels stable.
A Melbourne lot is still 40 percent cheaper on average than a Sydney lot. The October HIA-CoreLogic Residential Land Report recorded a Sydney median lot price of $420,000 for a 450 sq m block.
"This suggests that all things being equal, 2017 will be much the same [for price growth]," he added.
Factoring in the cost of building, a new three-bedroom home within 25 kilometres of the Melbourne CBD can still be bought for under $350,000. In Sydney's outer west, a new three-bedroom home will cost around $600,000.
According to red23, lot price growth was strongest in Wyndham in the south-west, home to the more established growth suburbs like Point Cook and Williams Landing, where lot prices soared 28 per cent to $270,000 and weakest at just 3.8 per cent in Hume in the north and Melton in the west.
Strong buyer demand was also a key factor in rising lot prices, with the Victorian Planning Authority reporting a record 22,000 lot sales in the year to September – Melbourne is home to the country's fastest selling housing estate, the 7000-lot Woodlea estate at Rockbank in the west being developed by Mirvac and VIP Properties.
The strong rise in lot prices and record demand for new housing has seen developers pay huge sums of money for land in the outer suburbs.
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jonathanchancellor-7SQnKwU6yx

Melbourne land prices rose in double digits in 2016

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GUEST OBSERVER
The continuing question of what return a rural property can demonstrate has been the source of many discussions between valuers, investment managers and accountants involved in financial modelling of rural assets.
Buyer motivation, data access and credibility, commodity and seasonal fluctuations are among the variables that influence a decision about how much someone will pay for an asset.
So while a complex calculation can be built, I asked my research guy Rick, if he could simply overlay the Eastern Young Cattle Indicator (EYCI) and Queensland Cow Market Indicator (QCMI) across the Queensland Grazing Property Index (QGPI) as reported annually by Herron Todd White and see what came up.
The result is per the graphic below and it reveals a very interesting story.
EYCI and QCMI with the QGPI for settled ales over 2,000 hectares
<a href="/images/2016/09/01/Screen%20Shot%202016-09-01%20at%2010.25.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/01/Screen%20Shot%202016-09-01%20at%2010.25.55%20AM.png" alt="">
For the period 1997 to 2004 the result reflected that  the land values moved in line with, but six months behind the underlying commodity movements with a high conviction.
From 2004 to 2009 however the value of rural land growth to the peak of the market in 2009 was significant with values increasing 62% on the median price in the five years, the ECYI decreasing 15.5% and the QCMI decreasing 10.6%. In other words the driver of land value was not reflective of the commodity return. This disconnect was also highlighted in the QRAA Rural debt surveys in 2009 and 2011.
From 2009 to 2013 the conviction between the land value and commodity return come back into relative alignment, but largely because of the fall in values not the rise in commodity prices.
2014 and 2015 then show the impact of the significant shift in the beef pricing and subsequent impact on land values. The rate of growth in the curve for the EYCI and QCMI is as sharp as at any point in the past 20 years which is no surprise for those in the industry. The jump in land values however is possibly more of a surprise.
So the question then moving forward for all stakeholders is what is the sustainability of the commodity market pricing relative to current sale yard, processor grids and live export pricing? There are potential risks out there (Indian frozen buffalo, Brazil exports etc) that could place a cap on prices and possibly see a reduction in the market place. If this were to occur, the logical view would be that the land values if still following the lag period would adjust accordingly or at least flatten out.
I have recently presented to a few banks and corporate clients and commented that the rapid rise in values in some sense has actually in my mind brought time forward. Where we thought the values may get to in say 2018 have been achieved in 2015 and 2016. The shift has been good for vendors and agents are reporting across the country that it is harder to find or list assets relative to the demand currently. Does the market settle a bit to draw breath or does demand see another level of value shift in land? Only time will tell.
Conclusion: Forecasting the land value movements based on the commodity price overlay which has a six month lag may be a good guide to looking at least into the short term land market values. This assumes the conviction between the commodity outlook and the land values remains high. Of course valuers are not there to forecast or predict the future. They deal with settled sales evidence in a consistent manner of analysis so that our clients have a consistent reference for the conclusions drawn.
The Australian Farm Institute has for its winter edition sought to investigate this question and I was fortunate enough to be asked to contribute to the discussion.
For those interested in reading the five articles from industry and educational institutions, go to the website <a href="https://www.farminstitute.org.au" target="_blank">www.farminstitute.org.au</a> and you can subscribe to the journal. The process of writing this article was good in that it really challenged me to look nationally for information and data to see where the value relationship to land and returns sits based on settled sales over many years. 
Tim Lane the national rural director at HTW and can be contacted <a href="https://www.htw.com.au" target="_blank">here</a>.
 
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jchancellor-FAypfDUnLy

Rural returns and land values: HTW's Tim Lane

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On 1 July 2016, Land and Property Information (LPI) will separate into five discrete units which will be integrated into the Department of Finance, Services and Innovation (DFSI) - see organisation chart below. 
<ul>
<li>LPI – Titling and Registry Services</li>
<li>Office of the Registrar General</li>
<li>Spatial Services</li>
<li>Valuation Services</li>
<li>Office of the Valuer General</li>
</ul>
Why we’re changing
LPI was formed around 16 years ago to create a government agency with responsibility for land valuation, land titling and registration and surveying, mapping and spatial information. The division has operated successfully throughout this period and many synergies have been created. 
With advances in technology, many manual processes are now digital and there are channels to ensure continued information sharing between the existing LPI units, without requiring the units to be grouped together as one division. 
With this in mind, as part of a scoping study of LPI, the Government has concluded there is opportunity to provide more benefit to the State if the Titling and Registry Services (TRS), Valuation Services and Spatial Services units of LPI are separated and integrated into DFSI.
Further, the Government has decided to separate the regulatory and operational functions of LPI’s Titling and Registry Services. 
What is changing
The newly formed Office of the Registrar General (ORG) will oversee the operations of LPI - Titling and Registry Services (TRS) and focus on legislative change and policy administration relating to the conveyancing industry. This area will become part of the Better Regulation division, providing for a consistent approach to regulation across government. 
The split of regulatory and operational functions will enable TRS operations to focus on maximising efficiency, customer service and innovation - improving service outcomes for the conveyancing industry. 
Valuation Services will move into Property NSW and will benefit from synergies with the other units within the division that manage property across NSW. Valuation Services will continue to provide services to the Valuer General under a service level agreement. The Office of the Valuer General will remain a separate unit reporting to Parliament and the Secretary, DFSI
Spatial Services will be integrated into Government and Corporate Services to ensure spatial information is provided to other government agencies efficiently, maximising innovation in this rapidly evolving area of technology.
The separation was carefully designed to avoid any increase in complexity and the new model strengthens commercial performance, innovation and regulatory oversight. As part of this, a new pricing framework has been introduced.
Land and Property Information changes 2016
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<a href="/images/2016/06/22/Structural_Changes_2016V3.jpg" target="_blank">Click to enlarge</a>
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<h2> </h2>
Operational
LPI – Titling and Registry Services
LPI – Titling and Registry Services (TRS) – maintains a secure and efficient system of land ownership and State-Government-guaranteed land title protection (under the Torrens system).
In September 2015, the NSW Treasury launched a comprehensive scoping study to investigate future options for Land Property Information (LPI). 
As announced on 20 May 2016, the Government has decided to offer a long term concession of 35 years for the management of the titling and registry services business of LPI.
You can also read the Treasurer’s announcement.
Spatial Services
Spatial Services, on behalf of the Surveyor General, creates and maintains a spatial representation of the State and acts as a ‘single source of truth’ for foundation spatial information and survey infrastructure and services in NSW. It supports the legislative and statutory requirements for the NSW Surveying and Spatial Information Act 2002.
Spatial Services provide leadership to NSW in the production and maintenance of foundation spatial datasets and services by capturing, sourcing, aggregating and quality-assuring information so that government, industry and the community can make informed decisions and create social and economic value.
It also digitises and preserves NSW state records including historic aerial imagery, land titles, plans and state survey records. 
Spatial Services will be part of Government and Corporate Services within DFSI.
Valuation Services
Valuation Services manages the valuation system on behalf of the Valuer General. The Valuer General delegates specific functions to Valuation Services, detailed in a service level agreement. 
Valuation Services: 
<ul>
<li>establishes and manages valuation contracts </li>
<li>monitors the performance of contract valuers </li>
<li>audits and quality assures land values </li>
<li>determines compensation following the compulsory acquisition of land </li>
<li>manages objections and appeals </li>
<li>delivers customer service </li>
</ul>
Valuation Services will be part of Property NSW, within DFSI.
Office of the Valuer General
An independent statutory officer appointed by the Governor of New South Wales, the Valuer General is responsible for: 
<ul>
<li>the valuation of land for rating and taxing </li>
<li>the determination of compensation when land is compulsorily acquired </li>
<li>setting standards and policies for the valuation system which is managed by Valuation Services </li>
<li>monitoring Valuation Services’ management of contract valuers </li>
<li>monitoring the quality of land values and services provided to the community by Valuation Services</li>
<li>providing professional leadership and stewardship to the valuation industry. </li>
</ul>
The Valuer General reports administratively to the Minister for Finance, Services and Property and the Secretary of DFSI.
Regulatory
Office of the Registrar General
The newly formed Office of the Registrar General (ORG) has assumed the regulatory functions of LPI – Titling and Registry Services (TRS). It will oversee the operations of TRS and focus on legislative change and policy administration relating to the conveyancing industry. The ORG will be integrated into Better Regulation in DFSI, providing for a consistent approach to regulation across government.
The Registrar General’s role 
The Registrar General maintains the NSW land titles system, which underpins over $130 billion dollars of economic activity in NSW each year. This includes the creation and maintenance of land titles records evidencing legal ownership and registered interests for land parcels and the examination and registration of plans and documents relating to land within NSW, while ensuring compliance with statutory requirements and protecting the integrity of the State’s cadastre. 
The NSW Government guarantees security of ownership for registered landowners recorded in the NSW land title system, ensuring confidence in the land title system.
 
For more information, <a href="https://www.lpi.nsw.gov.au/" target="_blank">click here</a>.
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NSW land, property changes on July 1

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House price growth accelerated during the March 2015 quarter as turnover fell 5.2% from the previous quarter, marking the third decline for land transactions in three consecutive  quarters.
Housing Industry Association chief economist Harley Dale said the combination of escalating residential land values and a related decline in sales volumes is not a good combination.
"The combination of significantly reduced turnover and strong price growth suggests that supply bottlenecks in residential land are intensifying," Mr Dale said.
"That is pricing new home buyers out of the housing market and capping the construction cycle at a lower level than would otherwise be the case.
According to the quarterly HIA CoreLogic RP Data Residential Land Report the residential land price in Australia increased 4.1% in March when with the previous quarter, up 8.2% from the same quarter last year. The amount of residential land transactions dropped 5.2% and is 17.6% lower than the same quarter last year.
CoreLogic RP Data research director Tim Lawless said the number of vacant land sales peaked over the June 2013 quarter and have since reduced by almost 30," Mr Lawless said.
"To see the price of land consistently rising over the same time frame suggests low supply is the main driver of this price growth rather than a slowdown in demand.
“Higher land prices translate to more expensive housing which is an unfortunate circumstance for those looking to purchase a detached house. Sydney stands out as the most expensive land market with a rate per square metre of $678, followed closely by Perth with a rate per square metre of $664.” 
 
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