Melbourne residential developer ANGLE has secured a double-quick approval for its new apartment project in the heart of Camberwell.

ANGLE, who is currently delivering Fernhurst in Kew and has an impressive portfolio of completed projects across the likes of Elwood, <a href="https://www.urban.com.au/developments/hawthorn-vic">Hawthorn</a> and South Yarra, has been given the green light by the&nbsp;City of Boroondara for a 10-level mixed-use building at 335 Camberwell Road with 69 apartments.

The development, to be known as <a href="https://www.urban.com.au/new-apartments/335-camberwell-road-camberwell">Terrace</a> given its stepped design, will be&nbsp;ANGLE’s seventh project in Boroondara and second in Camberwell, which has a median house price of $2.61 million, reflecting its status as one of Melbourne’s most sought-after suburbs, bolstered by its grand, historic residences and tranquil, leafy streets.

<img alt="ANGLE Camberwell" data-entity-type="file" data-entity-uuid="b044395f-069d-490b-bea9-3097510efce7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-02-10%20at%2011.22.42%E2%80%AFAM.png?VersionId=qwy2hBAT3nYp2h.eNLgKMFcbH2ABQF7h" />

The building has been designed by Tristan Wong Architecture and Design and will offer a mix of one, two and three-bedrooms, with an average internal area of over 190 sqm and large terraces averaging over 30 sqm.

The 3,807 sqm site is just 300 metres from Camberwell Junction.

The apartments will sit above ground floor retail and hospitality spaces along Camberwell Road, as well as 213 parking spaces in the basement, an averge of three spaces per dwelling.

ANGLE is giving back a lot of the site to resident use. They're only covering 58 per cent of the near-one acre site, so they can create a private 500 sqm north-facing park with large canopy trees and dense landscaping by MALA Studio and Amanda Oliver Gardens.

<img alt="ANGLE Camberwell" data-entity-type="file" data-entity-uuid="361af7a4-1bbc-49fe-a2f9-fec518ba60de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-02-10%20at%2011.17.23%E2%80%AFAM_0.png?VersionId=KruqYlNXjzNIIgEflaIMrWwHxV1JeHeg" />

"Projects with park outlooks have always outperformed the market and given the location opposite Camberwell Civic Centre and the amount of frontage afforded to us, almost every apartment will have a park aspect. Further, given the size of the setbacks and 58% site coverage, the building sits in a heavily landscaped setting," ANGLE Director Lachlan Gibson says.

He believes they have one of the best sites in the area.

"Analysis shows that this is one of the only developable sites in excess of 3,500 sqm in the Camberwell Junction Activity Centre, so we consider ourselves extremely fortunate to have secured what we think is the best one, being almost an acre in size and fronting a park."

Gibson is expecting local downsizers to make up the majority of purchasers.

"We are super bullish on the Melbourne market in the space that we are playing in. There is an extremely low supply of high-quality projects and the market is becoming increasingly discerning, which is pleasing to see. Buyers are more than happy to pay a premium for something if they love the design and know it’s going to be delivered well. This is especially true if the project has a bit of X factor, such as a park outlook."

Construction on Terrace is expected to start in 2026, with completion slated for 2028.​​​

Construction on Terrace is expected to start in 2026, with completion slated for 2028.​​​

Joel Robinson

ANGLE secures new Camberwell apartment project

Bondi Beach's famous Hall Street is set to see its transformation continue, with more plans for new shoptop housing.

The latest proposal is for a redevelopment of 27 Hall Street, currently a Vodafone and a mobile phone repair shop beneath six original apartments.

The plans for the 593 sqm site, which was bought for $23 million in 2021 by&nbsp;Hong Kong-based OCP Asia partner Dan Simmons and his wife Mandy, is for a five-level building with 17 apartments, including affordable housing, above two retail spaces.

Brian Meyerson's MHN Design Union, which is behind several new development designs in <a href="https://www.urban.com.au/developments/bondi-beach-nsw-2026">Bondi Beach</a>, handled the plans for the latest project.

<img alt="Hall sTreet" data-entity-type="file" data-entity-uuid="2b3daa29-9831-46a1-b8e5-b100a17893d5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-02-10%20at%2012.28.22%E2%80%AFPM.png?VersionId=6AhtzVwrLCw014d4OnO37WvQp2O6eXYu" /> 
The plans by MHN Design Union

The Urban Context Rpeort, prepared by&nbsp;AE Design Partnership, referenced Waverley Council's 'Our Liveable Places' strategy, which says&nbsp;“The desired future character of Hall Street is to be an iconic destination for locals and international travellers that is lively, green and sustainable. A centre that has a community feel and is creative and diverse”.

In a move not common with new development applications, a focus has been on smaller units. Two studios have been proposed, as well as 11 one-bedroom apartments and four two-bed units, two of which will have their own private rooftop terraces.

<img alt="Hall Street" data-entity-type="file" data-entity-uuid="2bc4a2d2-b296-4721-91ad-4013cf600301" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-02-10%20at%2012.32.18%E2%80%AFPM.png?VersionId=79C.zeT7Wff7K75ccrB0qLQ1azoxF4M8" /> 
The current building at 27 Hall Street

There are currently six developments on Hall Street which are either with the local council or approved, the submission noted.

The proposal comes at a time when three major projects for the area are coming to a close.

Buyers are settling at Aqualine where Koichi Takada-designed pentouse sell for around $22 million, a <a href="https://www.urban.com.au/news/nsw/aya-penthouse-bondi-beachs-largest-single-level-apartment-sells-for-around-22-million">record for a non-beachfront facing apartment</a>.

Rebel Property Group's Hall &amp; Campbell, too a record setter with the $23 million sale of its penthouse for a <a href="https://www.urban.com.au/news/nsw/hall-campbell-sets-new-apartment-record-in-bondi-beach">record $105,000 per sqm</a>, will finish soon, as will Princeton's Eurangi Bondi Beach which is near Hall Street on Campbell Parade.

There are currently six developments on Hall Street which are either with the local council or approved.

First look: Hall St, Bondi Beach transformation to continue with new shoptop housing pitched

The softening of Sydney's housing market looks to be short-lived, with hopes of an interest rate cut or two in the near term fuelling a slowdown of the slowdown.

October marked the first time in 21 months that the <a href="https://www.urban.com.au/developments/sydney-nsw">Sydney housing market</a> went backwards. Sydney's last decline saw the market contract -12.4 per cent between February 2022 and January 2023.

That doesn't look on the cards this time however, with some positive signs coming at the start of 2025.

In January, house values declined -0.4 per cent and units -0.2 per cent, according to CoreLogic's Home Value Index, better than they both fared in December.

If next month prints even better, it will look like both the house and unit market might give up just two or three per cent of the gains they saw for 21 months until October 2024.

<h2>What happened in Sydney’s off the plan apartment market in January?</h2>

The property market is generally quite quiet in Sydney until after Australia Day when kids return to school and prospective buyers restart their search after the summer break.

There was nothing quiet about the development applications pushed to various councils across Sydney's inner city in January however - with several developers getting back to the desks early and putting their proposals on the desks of local councils.

The biggest plans were revealed in the CBD where&nbsp;<a href="https://www.urban.com.au/developers/billbergia">Billbergia Group</a>&nbsp;and Metrics Credit Partners are teaming up for two 80-level towers that will home around&nbsp;600 apartments, a high-end hotel, retail spaces, and an upgraded public domain.&nbsp;

The duo acquired a&nbsp;6,000 sqm site spanning Castlereagh, Pitt, and Liverpool Streets and intends on starting demolition on the site, subject to approvals, next year.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/billbergia-metrics-propose-two-80-level-towers-in-sydneys-cbd">Billbergia &amp; Metrics propose two 80-level towers in Sydney's CBD</a>

<img alt="Billbergia &amp; Metrics propose two 80-level towers in Sydney's CBD" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/fjcstudio%20-%20338%20-%20V2-%20Final.jpg?VersionId=KNbLILH27WtrgtvvaMZzpRfUHeQ6NnK2" />

&nbsp;

In harbourside <a href="https://www.urban.com.au/developments/double-bay-nsw-2028">Double Bay</a>, furniture king Anthony Scali is plotting a redevelopment of the Savoy Hotel on Knox Street.

Scali has submitted plans for a five-level, mixed-use building at 35-45 Knox Street, comprising nine luxury apartments above three ground-floor retail spaces.<img alt="Double Bay makeover to continue as Scali furniture boss plots new luxe apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Plan%20-%20Photomontage%20-%20DA2024%20546%201%20-%2039-41%20Knox%20Street%20DOUBLE%20BAY%20%281%29.JPG?VersionId=JAz.LKybCrHzHwoivGoVjyBML029QMfL" />

Designed by <a href="https://www.urban.com.au/architects/mhn-design-union">MHN Design Union</a>, the $31 million development aims to integrate with the suburb’s established character while catering to a diverse demographic, including families, downsizers, and retirees.&nbsp;

The proposal is part of a broader wave of redevelopment in Double Bay, which includes the $1 billion transformation of the InterContinental Double Bay precinct and other shop-top housing projects in the area.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/double-bay-makeover-to-continue-as-scali-furniture-boss-plots-new-luxe-apartments">Double Bay makeover to continue as Scali furniture boss plots new luxe apartments</a>

Mixed-use projects proved popular in January. <a href="https://www.urban.com.au/developers/fabcot">Fabcot</a>, the development arm of supermarket giant Woolworths, finally submitted its long-awaited plans for its&nbsp;<a href="https://www.urban.com.au/developments/waterloo-nsw-2017">Waterloo</a>&nbsp;shoptop development.

&nbsp;

The $165 million project designed by <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a>&nbsp;will include two residential buildings with 110 apartments, a five-level commercial building, and a full-line Woolworths supermarket with specialty retail.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/woolworths-unveils-long-awaited-waterloo-precinct-with-shop-top-housing">Woolworths unveils long-awaited Waterloo precinct with shop-top housing</a>

<img alt="Woolworths unveils long-awaited Waterloo precinct with shop-top housing" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/923%20-%20935%20Bourke%20Street%2C%20Waterloo.png?VersionId=2jKvJSrvW5xy_JvUr6rj_QO8pY_OvujU" />

Waterloo is undergoing a major transformation. Adjacent to the site is DASCO's six-building <a href="https://www.urban.com.au/new-apartments/danks-st-district-903-921-bourke-street-waterloo-nsw-2017">Danks Street District</a> which was recently launched to the market.

And the growth in Waterloo is set to continue with joint venture partners&nbsp;<a href="https://www.urban.com.au/developers/mirvac" target="">Mirvac</a> and John Holland changing up their plans for Waterloo Metro Quarter, scrapping offices in favour of co-living and apartment towers.

The $960 million submission will deliver 655 apartments in total, as well as retail spaces and community facilities above the recently opened metro station.

<img alt="First Look: Mirvac, John Holland, submit $960m Waterloo Metro Quarter plans" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/MIR_WAT_VIEW_12_FINAL_V2.jpg?VersionId=X5IF2ucStjwn0HHuziLE5sXwgS0eC1EV" />

&nbsp;

The original Concept SSDA, approved in 2019, envisioned a mixed-use development but was later amended in 2021 to primarily focus on office space.

However, the developers cite significant shifts in market demand following the COVID-19 pandemic, including a decline in demand for city fringe office space and an escalating need for residential housing in the Waterloo-Zetland area.

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/first-look-mirvac-john-holland-submit-960m-waterloo-metro-quarter-plans">First Look: Mirvac, John Holland, submit $960m Waterloo Metro Quarter plans</a>

&nbsp;

If next month prints even better, it will look like both the house and unit market might give up just two or three per cent of the gains they saw for 21 months until October 2024

City Beat January 2025: Sydney property market cooldown slows as new apartment pipeline ramps up

The $500 million 26 Vista Surfers Paradise apartment development by Malaysian construction and development company&nbsp;<a href="https://www.urban.com.au/developers/mrcb">MRCB International</a>, has continued to impress buyers.

They've now sold 70 per cent of the 280 apartments and townhouses in the sustainability-focused building named after its location on Vista Street.

“<a href="https://www.urban.com.au/new-apartments/vista-surfers-paradise-26-vista-street-surfers-paradise">26 Vista</a> offers the ultimate coastal lifestyle, and as such has attracted very strong interest from locals wanting to live there and interstate buyers wanting to get a foothold in a hot Gold Coast Market,” says Matt George from project marketer Urban Activation.

“The diverse mix of buyers we’ve seen investing in this development stands as a testament to the superior product that is being offered. 26 Vista is truly the gold standard for coastal living, with its thoughtfully considered design and its commitment to providing residents with five-star luxury in sub-tropical surrounds.”

[smartcode_project:default project_id=112730 project_image_fid=319148]

26 Vista will offer a unique array of three-level terraces, one, two, three and four-bedroom apartments and a swell of communal amenities.

Club Vista will span the whole of the fourth level and will feature wellness and&nbsp;recreation facilities, including a lap pool, spa, outdoor lounge areas, gym, sauna steam room, yoga deck, cinema room, games room and resident’s lounge.

Taking amenities to sky heights, the rooftop terrace will have 360-degree views stretching from the ocean to hinterland ranges.

[smartcode_project:default project_id=112730 project_image_fid=211252]

On Level 51, Stratos will provide residents with both indoor and outdoor lounges, complete with a fireplace area.

Exclusively for Alto Collection Residences, Alto on Level 51 offers a private indoor lounge and dining room, along with an outdoor fire pit and plunge pool.

[smartcode_project:default project_id=112730 project_image_fid=211251]

“Buyers have loved that they don’t feel the pinch of downsizing and that their sacrificing space, rather, their new residences and the spectacular amenity offerings provide them with more than they could imagine," George added.

“We’re thrilled to see such an outstanding buyer response, and given the rate with which the apartments and townhouses have been purchased, we’re expecting the remaining residences to have as strong of an uptake.”

[smartcode_project_cta:default project_id=112730]

26 Vista will offer a unique array of three-level terraces, one, two, three and four-bedroom apartments and a swell of communal amenities

26 Vista Street, Surfers Paradise apartment development, hits 70 per cent sold

The construction industry demands meticulous attention to quality and compliance, and the Technical Inspection Service (TIS) has emerged as a critical component in achieving these standards.

Designed to assess and enhance building quality, the TIS program plays a pivotal role in reducing risks, securing <a href="https://www.urban.com.au/news/resilience-latent-defects-insurance">Resilience Latent Defects Insurance</a> (LDI), and ensuring long-term confidence in construction projects.

Unlike traditional certification systems, the TIS sits above existing frameworks, providing an independent, comprehensive layer of quality assurance. By proactively identifying and rectifying potential issues during the construction process, the TIS sets a new benchmark for industry accountability.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

<h2>What is the Technical Inspection Service (TIS)?</h2>

The TIS program is an independent, third-party review process that monitors and evaluates a building’s design and construction. Its purpose is to ensure compliance with local codes, regulations and best practices, while also addressing risks that other systems might overlook. By integrating regular inspections and detailed assessments into every stage of construction, the TIS significantly reduces the likelihood of latent structural defects—issues that become apparent only after project completion.

This proactive approach is a mandatory requirement for obtaining Resilience LDI, which provides 10 year protection for property owners against hidden structural and waterproofing defects.

<h2>How the TIS Sits Above Traditional Systems</h2>

While standard certification systems focus on verifying compliance with minimum regulatory requirements, the TIS goes beyond by offering a deeper and more comprehensive review of the construction process. Key distinctions include:

- Independent Oversight: Unlike certifiers who may work closely with project teams, the TIS providers operate independently, ensuring unbiased and rigorous assessments.

- Enhanced Quality Assurance: the TIS program focuses on potential risks that may not be detected by standard certifiers, such as detailed evaluations of waterproofing, structural integrity, and geotechnical considerations.

- Integrated Risk Management: By addressing risks proactively, the TIS complements and strengthens existing certification processes, adding a robust layer of oversight.

<h2>Key Components of the TIS Program</h2>

1. Design Risk Assessment 
 
Before construction begins, the TIS provider conducts a comprehensive review of the project’s plans, specifications, and structural designs. This ensures that potential flaws are identified and resolved at the earliest stage, preventing issues from arising during or after construction.

2. Regular Site Inspections 
 
Throughout the construction process, the TIS program involves regular spot audits and scheduled inspections at critical milestones. These inspections verify that the building adheres to the approved plans and meets the highest quality standards. Issues are identified and corrected in real-time to minimise delays or risks.

3. Detailed Quality Assurance Reporting 
 
Each inspection is followed by a detailed report, providing transparency and actionable recommendations. These reports are shared with project teams, ensuring any concerns are promptly addressed and resolved.

4. Final Completion Review 
 
At the end of construction, a final detailed review is conducted to certify that the building meets all requirements for Resilience LDI coverage. This certification provides the assurance needed to secure the policy.

<h2>The Added Benefit: 10 Years of Protection</h2>

One of the most compelling aspects of the TIS program is the 10-year protection it provides through its alignment with Reslience LDI. This long-term coverage ensures that any structural and waterproofing issues missed during the construction and inspection phases are addressed without financial burden on property owners.

For buyers, developers, and financiers, this decade-long protection adds a layer of confidence rarely matched by traditional systems. Knowing that issues arising years later will be covered fosters trust in the project and enhances its value in the market.

<h2>How the TIS Program Facilitates Resilience LDI</h2>

Resilience LDI provides property owners with coverage for latent defects, such as structural or waterproofing issues, that may emerge years after project completion. To qualify for Resilience LDI, compliance with the TIS program is mandatory. By addressing potential risks and certifying the quality of construction, the TIS program ensures that projects meet the stringent requirements necessary for Resilience LDI coverage.

<h2>Why Developers Should Embrace TIS</h2>

- Enhanced Marketability: Projects with TIS-backed, Resilience LDI coverage are viewed as safer investments, attracting buyers and investors who prioritise quality and risk mitigation.

- Streamlined Risk Management: The independent, proactive approach of the TIS program reduces the likelihood of costly repairs, legal disputes or reputational damage.

- Higher Valuations: Properties backed by Resilience LDI often achieve higher market valuations due to their perceived quality and reduced risk profile.

- Improved Buyer Confidence: The 10-year protection provided by Resilience LDI reassures buyers, making properties more appealing and easier to sell.

<h2>TIS: A Step Toward Better Industry Standards</h2>

The Technical Inspection Service represents a significant shift in how the construction industry approaches quality assurance. By providing a rigorous, independent layer of oversight that complements existing systems, the TIS program ensures that projects meet the highest standards of safety, durability, and reliability.

For developers, embracing the TIS program isn’t just about meeting insurance requirements—it’s about building trust, enhancing marketability, and delivering long-term value. As the Australian construction industry evolves, Resilience LDI and the TIS program will play a crucial role in shaping a future defined by accountability, quality, and confidence.

Resilience LDI may be the safety net, but the Technical Inspection Service is the foundation that makes it possible. Together, they represent the future of construction assurance.

The TIS program is an independent, third-party review process that monitors and evaluates a building’s design and construction

Latent Defects Insurance 101: What is the Technical Inspection Service (TIS) Program

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.

Urban Editorial

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>

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Ellen Walker

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

A number of people ask - what is the settlement process when buying off the plan property?

The simple answer is that the process is one part of the off the plan buying journey that isn't too dissimilar to buying in the established market.

The major difference is the time from exchange to settlement, given the off the plan property isn't built yet. The standard settlement for established property is around six to eight weeks.

This however has a number of pros for off the plan buyers.

One of the biggest is that the price paid for the property at the time of exchange doesn't change. Even if the value of the apartment has risen during construction, buyers will still settle on their apartments at the same price agreed.

The settlement date will be forecasted in the contract, as to when the developer believes the building will be complete, and the certificate of occupancy is obtained. Then settlement can start to occur and buyers can move in.

The settlement date forecast is another pro for buyers. While this date can chop and change due to a number of reasons, least of all delays in construction, labour, and materials, it gives the buyer a ballpark future date where they need to have their finances in shape to settle.

By paying a deposit you lock in that price, and you might not be required to pay the rest of the deposit for two or three years, if the construction timeline is that far away. This allows buyers years to save up the rest of the money while their yet-to-be-built property potential grows in value.

The settlement date estimate also puts a time limit on buyers as to when they should either vacate their current rental, or put the wheels in motion to sell their current home.

If you're thinking of purchasing an off the plan apartment, it's a good idea to speak to a conveyancer or solicitor who can advise you on the settlement process and help ensure that everything goes smoothly.

A number of people ask - what is the settlement process when buying off the plan property?

Off the plan property settlement - how does it work?

Arguably floor plans matter more in off the plan property than any other type of property.

In established markets, the floorplan is the floor plan. That's it, barring renovations.

But in the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers when discussing buying an off the plan property.

First there's the floor plan size.

Floor plan sizes advertised by agents or developers can differ hugely state by state, so it's important to understand whether you are being pitched a property's internal size, or total size.

Internal size is the measurement of the internal floor area of an apartment, and is typically measured in square metres (m²). External size is the measurement of the external dimensions of an apartment, be it a courtyard or a balcony, but sometimes it can include a parking space or storage cage.

Generally, off the plan apartments are advertised with their internal size, as this is the size that you will have to work with when furnishing and decorating your new home. It's important to be aware of external size, however, as this will give you an indication of the overall size of the building and how much outdoor space you will have access to.

When considering internal vs external size, it's important to keep in mind that internal size may vary slightly from the advertised size due to the internal walls of the apartment. External size, on the other hand, is usually accurate to the advertised size as it's based on the overall dimensions of the building.

Another thing to consider when analyzing floor plans in off the plan property is that floor plans aren't necessarily set.

The majority of developers, providing construction is still at its early stages, will allow buyers to customize their floor plan to suit their lifestyle.

It might be that you want to move a bedroom or bathroom, or re-orientate the living area. This generally isn't a problem for developers as long as the moving of internal walls doesn't impact the building structurally, and the redesign all occurs within the same floor plate size of the original apartment.

In the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers

How to read a floor plan, what questions to ask, and why it's important for off the plan property buyers

Buying off the plan isn't for everyone.

Every building begins as a new build before aging into the secondhand property market, much like cars transition from the showroom to the used car lot. While most Australians purchase established homes—akin to the prevalence of used cars on our roads—the majority of property buyers are more familiar with existing real estate.

While the concept of off the plan purchasing has been around for decades, the trend only really gained momentum in Australia in the 2000s, following a recovery from the early 1990s recession. As the market stabilized, property developers increasingly saw opportunities in multi-residential developments, particularly in major cities like Sydney, Melbourne, and Brisbane.

As urban centers grew, there was rising demand for apartments, particularly in inner-city areas. The trend toward apartment living grew as people sought more affordable and convenient living options close to city centers.

Now, off the plan buying in Australia is widespread and growing, and the type of purchasing has become favorable for those who are willing to wait for construction to complete on their new home. It favors first home buyers who want to get into the property market but aren't ready to make repayments or are increasingly frustrated by being outbid at auctions in the more traditional established market.

Downsizers have been the biggest movement in recent years. These buyers typically purchased their family home decades ago and are now ready to move into something closer to the city from the suburbs they've lived in. They seek properties that are low-maintenance and “lock and leave,” ideal for travel in retirement, and prefer buildings with high levels of amenities for added convenience.

While there are many factors that contribute to the popularity of off the plan buying, in this article, we’ve looked at eight of the biggest reasons why people choose this option.

<h2>Floorplans designed for 21st-century living</h2>

The majority of Australia's apartment buildings, particularly the classic 'walk-up' apartments, were built four or five decades ago.

While these properties present at a more affordable price point compared to brand-new developments, they don’t have the modern floorplan configurations that today's buyers expect for 21st-century living.

Many of these older buildings still feature communal coin-operated laundries, carport parking, and lack modern intercom systems for security.

New apartments now typically feature integrated study nooks (a response to the growing work-from-home trend), concealed internal laundries, balconies to extend the main living area, and kitchens with floating islands that create additional prep or dining spaces.

<h2>Customisation</h2>

Off the plan buyers often have the option to customise their apartments. This could be as simple as selecting a color scheme or upgrading appliances, or as significant as combining two apartments to create a larger unit or changing internal walls to adjust room configurations.

For an owner to do this in an established apartment, a renovation of that scale could cost hundreds of thousands of dollars, and it may not even get past the strata committee, which can be notoriously difficult when it comes to apartment renovations.

Read more:&nbsp;<a href="https://www.urban.com.au/news/vic/why-the-ability-to-customise-is-a-crucial-offering-in-the-off-the-plan-apartment-market">Why the ability to customise is a crucial offering in the off the plan apartment market</a>

<h2>Sustainability</h2>

New apartment buildings have a responsibility to focus on sustainable practices.

Most state governments enforce sustainability requirements, and now buildings have to be 7-star NatHERS rated, which means they must include energy-efficient features like double glazing and better insulation.

While it's a positive for the environment, it's also a benefit for new apartment buyers. Energy-efficient appliances and standard practices like solar panels and rainwater harvesting can save thousands on electricity and water bills every year.

You’d be hard-pressed to find an apartment building built before 2000 with solar panels.

<h2>Technology</h2>

Developers today go the extra mile to set their developments apart, and a small feature they often include is advanced technology.

Some developers offer keyless entry systems, whether through keypad door handles or facial recognition, as well as smart home capabilities like routine-driven lights or Wi-Fi-controlled air conditioning. Many fixtures in an apartment, from blinds to air conditioning and lighting, can be controlled remotely via an app, whether at home or not.

This enhances both the functionality and security of living in these buildings.

Developers creating large towers or masterplanned communities in particular understand they're not just building homes, but fostering a community. They&nbsp;go as far as offering a mobile phone application, which, depending on the project, can be used to reserve any of the bookable facilities, request concierge services, or see what community events are taking place.

<h2>Facilities</h2>

One of the biggest differences between apartment buildings from the 1960s and those of today is the level of facilities.

While the facilities offered vary depending on the size of the apartment building, developers dedicate significant resources and floorspace to ensure that residents are well-catered for within the building.

At a minimum, developers allocate large portions of the site for walkable gardens, often landscaped by a professional. Smaller boutique buildings, which may not have a pool or gym, often feature rooftop communal spaces with barbecue facilities and alfresco dining areas.

Larger skyscraper towers go all out with luxury facilities. It's no longer enough to have just a pool and a basic gym. Now, towers are offering facilities that rival those of high-end hotels.

Lap pools, accompanying spas, and daybeds are now standard. Gyms are often replaced with wellness centres that include saunas, hot and cold plunge pools, and rooms reserved for classes or yoga.

Private dining spaces with large communal kitchens have become common, and many developers in Brisbane and the Gold Coast orient these facilities on the rooftop to take advantage of the warmer climate.

In recent years, some towers have even included golf simulators, cinemas, and karaoke rooms. The majority now feature co-working spaces. Buildings with a prominent street presence often include a ground-level café, while those on larger sites may offer multiple hospitality and retail venues at street level, along with office spaces on the lower floors.

Parking is also becoming more innovative, with license plate recognition systems that sometimes eliminate the need for key fobs.

<h2>Location</h2>

The location of new developments tends to be more strategically selected than older buildings.

Developers nowadays ensure their sites are close to major transport links or local amenities like parks, beaches, and shopping areas. Buyers are less willing to compromise on location when they’re paying more than ever before for a new apartment.

<h2>The fact it's brand new</h2>

Much like the customisation reason, the fact that the apartment is brand new is a huge selling point.

There’s no need to upgrade any fixtures or fittings once the apartment is complete. New apartments feature top-of-the-line appliances, typically from brands like SMEG or BOSCH, with some luxury apartments offering Gaggenau appliances.

Additionally, improvements in flooring materials, like engineered timber and stone benchtops, provide durability and a modern finish that is resistant to wear and tear.

<h2>Financial benefits</h2>

Buying off the plan comes with several financial advantages, including potential stamp duty savings in certain states, which can significantly reduce costs on completion.

Additionally, the staggered payment structure in the off the plan market allows buyers to secure a property at today’s prices while saving for settlement during the construction period.

Generally, buyers pay 10 percent upon going unconditional on the contract, with the remaining 10 percent due on completion. Many developers, however, offer flexible deposit terms, which could be as low as five percent.

The deposit is placed in a protected trust account by the developer, ensuring that the money is safe and untouched, while also generating interest during this time. That interest is handed to the buyer upon completion.

Eight reasons why people buy an off the plan apartment

In Australia, a significant percentage of real estate transactions involve properties bought off the plan, yet this approach remains unfamiliar to many buyers.

Purchasing a property before it’s built can offer several opportunities, but it also comes with unique risks and considerations. Understanding the ins and outs of the off the plan buying process is crucial for making an informed decision.

In this article, we’ve highlighted the key factors to consider when buying off the plan, ensuring you’re well-prepared for this important investment.

<h2>1. What does "buying off the plan" mean?</h2>

Buying off the plan refers to purchasing a property, such as an apartment or house, that has not yet been constructed or is currently under construction.

Instead of viewing a finished property, buyers base their decision on building plans, designs, and artist renderings provided by the developer.

<h2>2. What are the advantages of buying off the plan?</h2>

<ul>
	<li>Potential Price Savings: Developers often offer competitive prices and incentives to secure early buyers, particularly before construction begins.</li>
	<li>Extended Saving Time: You typically only pay a deposit upfront, giving you more time to save for the remaining balance due upon completion.</li>
	<li>Capital Growth Potential: The property's value may appreciate during the construction period.</li>
	<li>Modern Design and Features: Enjoy new, contemporary designs and the latest amenities.</li>
	<li>Stamp Duty Savings: Some states and territories offer stamp duty concessions or exemptions for off-the-plan purchases, especially for first-home buyers.</li>
	<li>Tax Advantages for Investors: There can be potential tax deductions for investors, such as depreciation benefits.</li>
</ul>

<h2>3. What are the disadvantages and risks of buying off the plan?</h2>

<ul>
	<li>Project Delays: Construction timelines can be unpredictable, potentially leading to extended settlement periods.</li>
	<li>Potential for Value Fluctuations: The property market can change during construction, and the final value may be lower than the purchase price.</li>
	<li>Developer Bankruptcy: If the developer goes bankrupt, completion of the project may be jeopardized, and deposit recovery could be difficult.</li>
	<li>Limited Customization: Changes to the design or finishes might be restricted once construction has commenced.</li>
	<li>Unforeseen Costs: Be cautious of potential hidden costs or variations that can arise during the development process.</li>
</ul>

<h2>4. How does financing work for off the plan purchases?</h2>

Lenders may grant conditional loan approval (pre-approval) based on the projected value of the completed property. However, the final loan approval and amount are contingent upon a valuation conducted closer to settlement.

This final valuation ensures the property's value aligns with the loan amount and assesses any changes in your financial situation.

<h2>5. What is a sunset clause, and why is it important?</h2>

A sunset clause is a provision in the contract that allows either the buyer or the developer to terminate the agreement if construction has not reached a specific stage by a predetermined date. This clause protects buyers from indefinite delays and allows them to potentially recoup their deposit if the project faces significant setbacks.

<h2>6. Can I negotiate the price when buying off the plan?</h2>

Negotiation is possible, especially in the early phases of a development when the developer is seeking to attract initial buyers.

Be prepared to do your research and make a reasonable offer.

<h2>7. What should I check before signing an off the plan contract?</h2>

<ul>
	<li>Developer Reputation: Research the developer's track record and financial stability.</li>
	<li>Contract Terms and Conditions: Carefully review all clauses, paying close attention to payment schedules, sunset clauses, potential variations, and dispute resolution processes.</li>
	<li>Inclusions and Finishes: Obtain a detailed list of inclusions and specifications, including the quality and brand of fixtures and appliances.</li>
	<li>Seek Legal Advice: Consult with a solicitor or conveyancer to ensure you understand the legal implications of the contract before signing.</li>
</ul>

<h2>8. How is my deposit protected when buying off the plan?</h2>

Deposits for off the plan purchases are held in a trust account until settlement. This protects your funds in case of developer insolvency or project failure.

Be sure to understand the specific deposit protection regulations in your state or territory.

Buying off the plan refers to purchasing a property, such as an apartment or house, that has not yet been constructed or is currently under construction

The top eight considerations when buying off the plan

In the dynamic world of insurance, there is a product that has been quietly making waves across the globe for decades – Latent Defects Insurance (LDI).

Originating in Europe, this innovative insurance coverage has now found its way into the Australian market, promising a brighter future for the construction industry.&nbsp;

Latent Defects Insurance, also known as structural defects insurance or building warranty insurance, provides the most comprehensive protection to property owners, covering them against any hidden defects in construction projects. These defects may not be immediately apparent but could manifest months or even years after the completion of the project, leading to costly repairs and legal disputes.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/expert-insights/building/the-advantages-of-first-resort-strict-liability-latent-defects-insurance-for-off-the-plan-property-buyers">The advantages of first resort, strict liability, Latent Defects Insurance for off the plan property buyers</a>

The history of Latent Defects Insurance can be traced back to the mid-20th century when it was first introduced in Europe to address growing concerns surrounding construction defects. As the construction industry evolved and became more complex, the need for comprehensive, structural insurance coverage became increasingly apparent.&nbsp;

Over the years, Latent Defects Insurance gained popularity in countries like the United States, Canada, and the United Kingdom, where it became a standard requirement for large-scale construction projects. The insurance industry recognised the value of this product in mitigating risk and fostering a culture of accountability among construction stakeholders.

Now, Latent Defects Insurance is gaining traction in Australia, with nationwide availability transforming the construction landscape. This development marks a significant milestone for the Australian construction industry, offering newfound security and peace of mind to property owners, investors, developers, and builders alike.

Read more:&nbsp;<a href="https://industry.urban.com.au/updates/how-resilience-ldi-helps-off-the-plan-apartment-developers">How Resilience LDI helps off the plan apartment developers</a>

The introduction of Latent Defects Insurance in Australia is already having a transformative impact on the industry, promoting higher construction standards, reducing disputes, and enhancing overall project quality. With this innovative insurance coverage now widely accessible, the future of construction in Australia looks more promising than ever before.

The evolution of Latent Defects Insurance, from a niche product to a mainstream offering, is a testament to its effectiveness in addressing the complex challenges of the construction industry. As latent defects insurance continues to expand its reach, the future of construction worldwide, and especially in Australia, looks brighter and more secure than ever.

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The pioneering insurance firm, the only insurer who can offer Latent Defects Insurance in Australia, is Resilience Insurance.

Resilience Insurance CEO Corey Nugent says the insurance benefits both the purchaser and the developer.

“Ultimately what we’re trying to do is build better buildings the consumers can have trust in, but more importantly improve the post-completion and settlement process, so that when buyers take possession, they have full insurance protection, from day one, for 10 years” Nugent says.

“The insurance protects the buyer from any structural defects in the building, and developers who have taken Resilience LDI have reported an uptick in both sales volumes and sale values compared to competing developments that don’t have Resilience LDI.”

To find out more about Resilience Latent Defects Insurance, <a href="https://www.urban.com.au/news/resilience-latent-defects-insurance">click here</a>.

Latent Defects Insurance provides the most comprehensive protection to property owners, covering them against any hidden defects in construction projects

The evolution of Latent Defects Insurance worldwide and its nationwide availability in Australia

Three years ago, credit reporting giant Equifax identified a need to provide transparency to the development market in Australia.

In 2022 they launched iCIRT, a voluntary rating tool in which developers, builders and construction consultants all over Australia could apply to become a credited iCIRT rated company.

Since then the likes of Sekisui House, Stockland and Deicorp have all become an iCIRT rated developers.

We recently caught up with Brad Walters, Head of Product and Rating Services at Equifax, to talk more about iCIRT.

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<h2>What is iCIRT?</h2>

iCIRT stands for the&nbsp;Independent Construction Industry Rating Tool.

iCIRT ratings were developed in consultation with the government, regulators, industry and market associations to help purchasers find trusted residential building professionals.

<h2>How does it help buyers?</h2>

"iCIRT was designed to support and improve transparency and to provide buyers and investors with independent information that they can turn to that could give them confidence," Walters says.

The iCIRT rating system is voluntary for any developer, builder or construction consultant&nbsp;in Australia.&nbsp;

The process of becoming iCIRT-rated involves Equifax undertaking a detailed assessment of the company, from previous developments and experience to financial records and company structure.

Following the assessment, Equifax provide an iCIRT rating for the company between zero to five stars - the more starts, the more confidence in the developer.

A 3-gold star rating or higher indicates a trustworthy business with a demonstrated ability to honour its commitments and fix defects.

<h2>How do I find iCIRT-rated businesses?</h2>

iCIRT has a register&nbsp;<a href="https://www.urban.com.au/news/nsw/how-icirt-is-changing-the-off-the-plan-industry-for-the-better-the-sydney-developers-to-first-secure-the-accreditation">of all property professionals</a>, including developers and builders, who are iCIRT rated.

Some 130 companies now have an iCIRT rating.

Michael Bird

How iCIRT is helping build confidence in the off the plan apartment market

For the first time since the Reserve Bank of Australia began hiking rates in May 2022, markets are pricing in four interest rate cuts within the next 12 months. 
 
At the end of each trading day, the ASX publishes its&nbsp;RBA Target Rate Tracker&nbsp;which calculates the probability of changes in the overnight cash rate based upon the implied yields of very short-term (30-day) interest rate futures.&nbsp; 
 
The ASX’s Tracker as at yesterday’s close shows that markets are predicting the RBA will first cut interest rates by 25 basis points in February 2025, with three more in the run-up to August. The RBA meets eight times in 2025 (February, April, May, July, August, September, November, and December). 
 
The RBA’s official cash rate sits at 4.35 per cent.

Any movement in the official cash rate, and most importantly banks passing on those interest rate changes, will help address several challenges in the off the plan apartment space.&nbsp;

The first one is demand. A lower interest rate environment means buyers will have more money to spend due to increased serviceability. Buyers haven't had an opportunity to extend their serviceability in over two years.

For a prospective buyer wanting to take out a $641,000 mortgage, the average mortgage size across Australia according to the ABS, four rate cuts would translate to over $5,000 in savings per year on average, Finder analysis suggests.

On top of lower repayments, there's increased serviceability, meaning a buyer can spend more than they could if the interest rate is higher.&nbsp;

Average Aussie mortgage repayments

<table>
	<thead>
		<tr>
			<th>&nbsp;</th>
			<th>Cash rate</th>
			<th>Average home loan rate*</th>
			<th>Average monthly repayment</th>
			<th>Average monthly decrease</th>
			<th>Average annual repayment</th>
			<th>Average annual decrease</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>September 2024</td>
			<td>4.35%</td>
			<td>7.07%</td>
			<td>$4,296</td>
			<td>-</td>
			<td>$51,552</td>
			<td>-</td>
		</tr>
		<tr>
			<td>1 rate cut</td>
			<td>4.10%</td>
			<td>6.82%</td>
			<td>$4,189</td>
			<td>$107</td>
			<td>$1,284</td>
			<td>$1,284</td>
		</tr>
		<tr>
			<td>2 rate cuts</td>
			<td>3.85%</td>
			<td>6.57%</td>
			<td>$4,083</td>
			<td>$213</td>
			<td>$2,556</td>
			<td>$2,556</td>
		</tr>
		<tr>
			<td>3 rate cuts</td>
			<td>3.60%</td>
			<td>6.32%</td>
			<td>$3,977</td>
			<td>$319</td>
			<td>$3,828</td>
			<td>$3,828</td>
		</tr>
		<tr>
			<td>4 rate cuts</td>
			<td>3.35%</td>
			<td>6.07%</td>
			<td>$3,873</td>
			<td>$423</td>
			<td>$5,076</td>
			<td>$5,076</td>
		</tr>
		<tr>
			<td colspan="5">Source: Finder, RBA, ABS. *Owner-occupier variable discounted rate. Repayments based on the average loan of $641,143 (ABS data analysed by Finder).</td>
			<td colspan="2"><img alt="" data-bit="iit" data-entity-type="" data-entity-uuid="" height="31" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXco5HuNAjqBICpVCvo3HzWGg4p7cL4LNNgRMBhoA67KYJfOqqJQa7ZSRA71Ju988qgvPsCeSbWhwDfAV4E8iSpKXp6wBkUPMclLxe1_IMfwemjiI4eU8l9Q_QrMukqJYMAzm_jSHgst3qtOzFkqULeIMf8?key=iigATMhksU1ODdPeSGzwIA" width="170" /></td>
		</tr>
	</tbody>
</table>

Not only will buyers have more money to spend due to increased serviceability, but the supply of new apartments is likely to increase if borrowing costs for the developers are reduced.

Many developers across the country have new apartment projects ready to launch but are waiting for more favorable news on interest rates. It seemed at the start of the year that rates would be going down by mid-2024; however, inflationary pressure has led the RBA to maintain a hold on rates in each of the five meetings this year.

The Board will meet again next week, expecting to hold the official cash rate again at 4.35 per cent.

For a prospective buyer wanting to take out a $641,000 mortgage, the average mortgage size across Australia according to the ABS, four rate cuts would translate to over $5,000 in savings per year on average, Finder analysis suggests

Markets price in four RBA rate cuts in next 12 months: What it means for the off the plan apartment market

Resilience Latent Defects Insurance is changing the way people buy off the plan property in Australia.

This insurance, currently only available through Resilience Insurance, provides off the plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in.

The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

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<h2>Boosting Confidence in Off the Plan Apartments</h2>

In this evolving market, developers and project managers have a unique opportunity to enhance buyer confidence and drive sales through LDI. Offering a 10-year warranty on structural components of new apartments, LDI covers issues from leaks to cracks, providing a robust solution that has been a global staple for over seventy years.

<h2>Advantages for Developers and Buyers</h2>

LDI is a game-changer for the off-the-plan market. By incorporating LDI, developers ensure buyers receive comprehensive protection from the moment they take possession. This coverage not only addresses post-completion structural defects but also issues arising during the construction phase. Leading developers like Abadeen, Deicorp, Kanebridge, and Coronation Property have adopted LDI, witnessing increased sales and property value.

[smartcode_project:default project_id=112966 project_image_fid=213736]

<h2>Building Market Confidence</h2>

Corey Nugent, CEO of Resilience Insurance and a pioneer of LDI in Australia, emphasises that LDI enhances the construction process and post-settlement phase. With expert partners involved from the beginning, LDI ensures quality and reliability, alleviating concerns about structural integrity. This proactive approach is crucial in a market where trust in delivery quality is paramount.

[smartcode_project:default project_id=114189 project_image_fid=272865]

<h2>Economic Impact and Market Leadership</h2>

According to a survey by MatterFact, 60% of potential buyers are willing to pay over 1.5% of the apartment price for LDI coverage, making it a cost-effective investment for developers. Projects with LDI have reported a 4-5% price increase compared to those without, highlighting the financial benefits for developers. NSW Building Commissioner David Chandler supports LDI, viewing it as a pivotal reform aligned with the state's commitment to improving construction standards and reducing litigation.

For property developers and project managers, integrating LDI into their offerings is not just about insurance—it's about positioning themselves as industry leaders dedicated to quality and buyer assurance. LDI boosts buyer confidence, enhances project marketability, and contributes to resolving Australia's housing crisis by making off-the-plan purchases more attractive and secure.

<h2>Read more about Resilience Insurance Latent Defects Insurance</h2>

<a href="https://www.urban.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

<a href="https://www.urban.com.au/news/nsw/dcn-group-to-develop-first-bankstown-apartment-development-with-latent-defects-insurance">DCN Group to develop first Bankstown apartment development with Latent Defects Insurance</a> 
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For property developers and project managers, integrating LDI into their offerings is not just about insurance—it's about positioning themselves as industry leaders dedicated to quality and buyer assurance

Everything an off the plan developer and buyer needs to know about Resilience Latent Defects Insurance

First home buyers are shrugging off the recent interest hikes with a spike in new mortgages for those looking to enter the market for the first time.

Data from the ABS Lending Indicators showed a 25.8 per cent increase in the value of new loan commitments for first home buyers, up to $5.25 billion nationally.

The value of new loan commitments for investors was rising higher than owner occupier borrowers. Investment lending increased by 18 per cent to reach $9.72 billion while owner occupier new loan commitments were up only 10.6 per cent over the year to reach $17.86 billion in loans.&nbsp;&nbsp;

A total of $27.58 billion in new home and investment property loans were taken out in November, up by a modest one per cent from October and 13.1 per cent over the year.&nbsp;&nbsp;

Investors are up for the month by 1.9 percent, which compares to an increase of only 0.7 percent for owner occupiers.

"You could say investors are back," Canstar’s lending expert Steve Mickenbecker says, with new lending up by 18 percent year-on-year, suggesting they hold a healthy expectation for property prices over the coming few years.

“It’s first home buyers who are leading the way with new lending commitments up by 2.8 percent for the month and 25.8 percent for the year,"&nbsp;Mickenbecker says.

"Looking at the number of buyers, first home buyers’ participation represents 37 percent of all new loans."

The biggest spike in first home buyers was in Queensland, where number of loans issued jumped 10.8 per cent in November. Victoria rose 1.2 per cent and Sydney fell 4.8 per cent, unsurprisingly given the cost of buying property in much higher in the harbour capital.

First home buyer new mortgages spike as "investors are back"

ASX-listed developer Stockland has spent just over $1 billion buying 12 masterplanned communities from Lendlease.

The communities will be part of the&nbsp;Stockland Residential Communities Partnership (SRCP) with Thai real estate development company Supalai. Stockland will hold a 50.1% interest in SRCP, with Supalai holding a 49.9% interest.

They've secured masterplans across Victoria, Queensland and New South Wales, totalling over 27,000 lots. The biggest acquisition is by far Yarrabilba in Queensland, near Logan, which has 10,400 lots.

<img alt="Lendlease" data-entity-type="file" data-entity-uuid="3f291554-0aab-4722-86d4-e78c45ad8d0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-19%20at%207.07.26%20pm.png?VersionId=9HKtuB2gixixMkaa5JQ_xx7zzQjLX4k1" />The&nbsp;Yarrabilba masterplan. Image credit: Lendlease

Stockland Managing Director and Chief Executive Officer, Tarun Gupta, said the acquisition represents a step change in the reshaping Stockland's portfolio.

"[It] accelerates the execution of our strategy by increasing our capital allocation towards residential sectors while scaling our capital partnership platform and generating new sources of recurring income," Gupta said.

“We are pleased to be forming the Stockland Residential Communities Partnership with our existing partner Supalai, who has a strong track record of investing in residential developments across Australia, and is aligned with our strategic ambitions. SRCP achieves immediate scale with this acquisition, and we are excited to further develop the partnership alongside Supalai.”

Supalai Public Company Limited Chairman and CEO, Dr Prateep Tangmatitham said the investment further demonstrates their confidence in the underlying drivers of the market and provides them with exposure to a high quality, well-located portfolio of communities in partnership with one of Australia’s leading residential developers.

The recent acquisitions take Stockland's landbank to around 95,600 lots. They have the potential to increase settlement numbers to around 2,500 lots per annum.

<table>
	<thead>
		<tr>
			<th>Project Number</th>
			<th>Project Name</th>
			<th>State</th>
			<th>Yield</th>
		</tr>
	</thead>
	<tbody>
		<tr>
			<td>1</td>
			<td>Figtree Hill</td>
			<td>NSW</td>
			<td>~1,320</td>
		</tr>
		<tr>
			<td>2</td>
			<td>Calderwood Valley</td>
			<td>NSW</td>
			<td>~2,780</td>
		</tr>
		<tr>
			<td>3</td>
			<td>Springfield Rise</td>
			<td>QLD</td>
			<td>~1,160</td>
		</tr>
		<tr>
			<td>4</td>
			<td>Yarrabilba</td>
			<td>QLD</td>
			<td>~10,400</td>
		</tr>
		<tr>
			<td>5</td>
			<td>Shoreline</td>
			<td>QLD</td>
			<td>~2,760</td>
		</tr>
		<tr>
			<td>6</td>
			<td>Kinma Valley</td>
			<td>QLD</td>
			<td>~2,300</td>
		</tr>
		<tr>
			<td>7</td>
			<td>Atherstone</td>
			<td>VIC</td>
			<td>~1,710</td>
		</tr>
		<tr>
			<td>8</td>
			<td>Aurora</td>
			<td>VIC</td>
			<td>~1,110</td>
		</tr>
		<tr>
			<td>9</td>
			<td>Harpley</td>
			<td>VIC</td>
			<td>~1,720</td>
		</tr>
		<tr>
			<td>10</td>
			<td>Averley</td>
			<td>VIC</td>
			<td>~1,370</td>
		</tr>
		<tr>
			<td>11</td>
			<td>Alkimos Beach</td>
			<td>WA</td>
			<td>~760</td>
		</tr>
		<tr>
			<td>12</td>
			<td>Alkimos Vista</td>
			<td>WA</td>
			<td>~250</td>
		</tr>
		<tr>
			<td>Total</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>~27,600</td>
		</tr>
	</tbody>
</table>

&nbsp;

Stockland CEO of Development, Andrew Whitson said the fundamentals of the residential market in Australia remain compelling, with ongoing land supply constraints amid strong population growth.

"This acquisition has been secured on attractive terms, with active projects that are well positioned to ramp up development activity into a potential recovery in the residential cycle. The size and scale of the acquired projects also present potential development opportunities in adjacent uses, including land lease communities and community real estate assets such as childcare and healthcare centres.”

Stockland recently released one of the <a href="https://www.urban.com.au/news/qld/stockland-release-the-lake-residences-with-private-marina-berth-at-newport-qld">last residential opportunities</a> at their Redcliffe Peninsula masterplan Newport.

Stockland Managing Director and Chief Executive Officer, Tarun Gupta, said the acquisition represents a step change in the reshaping Stockland's portfolio

Stockland buys 12 masterplanned communities from Lendlease for $1 billion

Sydney is predicted to have the highest growth in luxury residential property prices of the Australian cities in 2024, according to Knight Frank research.

Knight Frank’s Global Prime Residential Forecast found the New South Wales’ capital sits in fifth place out of 25 cities globally for predicted prime property price growth next year, with 5% growth forecast.

Prime property is generally defined as the top 5% of property in each market. Melbourne came in at number eight for forecast growth in prime residential property prices over 2024, with an expected rise of&nbsp; 3%.

Globally, Knight Frank’s latest projections for prime prices in 2023 and 2024 were revised upwards by the global research network in its Global Prime Residential Forecast, foreseeing an average growth of 2.4% in 2023 and 2.5% in 2024.

<img alt="Knight Frank" data-entity-type="file" data-entity-uuid="53f3a14e-d1ea-43a3-98c5-e4e2f3b8cdc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-12-07%20at%2011.29.02%20am.png?VersionId=sOnYotq_Va2y8BXJRKfTzXcoz8QVKjEy" />

Both Sydney and Melbourne were in the list of 10 cities in Knight Frank’s Global Prime Residential Forecast that had seen an improvement in the luxury property price growth forecast for 2024. The 5% growth figure forecast for Sydney is a 2% increase on the original forecast for prime property price growth in 2024, made six months ago by Knight Frank, and is the second highest forecast price growth revision for next year behind Auckland.

Melbourne's forecasted price growth has jumped from 1% to 3%.

Both cities have also had better growth in luxury residential property prices than predicted over 2023, with price growth forecasts up to the end of this year also revised upwards.

Sydney’s forecast for luxury residential property growth for 2023 has been revised upward from 0% to 3%, while Melbourne’s forecast has been revised upwards from -1% to 1%, reflecting the better than expected performance of these two cities over 2023.

[smartcode_project:default project_id=136076 project_image_fid=212615]

Knight Frank Head of Residential Research in Australia Michelle Ciesielski said cautious optimism was emerging in the luxury residential property market globally, with prime buyers appearing confident that economic headwinds were easing.

“In Australia, buyer appetite is strengthening, while supply of prime properties is constrained,” Ciesielski said.

“The limited number of exceptional and most desirable prime residential property listings continues to create a price floor under many luxury Australian properties.

“This undersupply of luxury homes is one of the key factors set to shape the performance of the Australian prime residential market in 2024, with inflation and interest rates also set to play a big role.

“In saying that, in this upper echelon of the market, we are seeing an increasing number of cash buyers, with the proportion being 60% of all prime residential property sales in Sydney and 65% in Melbourne.

“Climate risk, geopolitical tensions and currency shifts are also expected to impact the Australian luxury property market.

“Amongst these risks there are opportunities, however, with property set to continue to appeal as a means to diversify and spread risk, being seen as a safe haven for capital.”

[smartcode_project:default project_id=108801 project_image_fid=236536]

Prime residential property has outperformed most other asset types over a 10-year period, with 55% growth, according to Knight Frank’s Prime Global Cities Index. It came in second behind oil, with growth of 110% over the same timeframe.

Knight Frank Head of Residential in Australia Erin van Tuil said in pockets of prime suburbs around Australia, record sale prices were being achieved, with some taking place before an advertising campaign takes place.

“Many of these properties are located on the waterfront, large estates and on the upper levels of apartment towers with panoramic views,” she said.

“The super-prime end of the market - especially A$20m-plus - is doing exceptionally well, with no shortage of buyers and limited homes.

“Most buyers are local Australian buyers, with a notable absence of foreign buyers committing to sales, despite enquiries.

“Relative to other Australian cities, Melbourne has counted more prime luxury product built over the past couple of years, which has made prime prices lag the stronger performance in other Australian cities.

“Melbourne is also still recovering from an extended lockdown in the pandemic, with city seeing many residents move interstate to Queensland and the slower return of international investors which the city relies heavily on.”

Knight Frank research shows in Sydney 5% of prime property buyers are foreign buyers, while in Melbourne it’s 10%.

Both Sydney and Melbourne were in the list of 10 cities in Knight Frank’s Global Prime Residential Forecast that had seen an improvement in the luxury property price growth forecast for 2024

Sydney and Melbourne in world top 10 for luxury property market growth in 2024: Knight Frank

Expert commentary from CoreLogic

Australian dwelling values have regained the losses from the recent downturn and surpassed their previous peak to reach a new record high, CoreLogic's national daily Home Value Index shows.

After reaching a peak in April 2022, national home values fell -7.5%, finding a floor on 29 January 2023.&nbsp; Since bottoming out, the national HVI has risen by 8.1%, taking the market to a new record high on Wednesday 22 November 2023.

CoreLogic’s Executive Research Director, Tim Lawless, said it took around nine months for the National HVI to move from record highs to the recent trough, then roughly 10 months to recover from the short but sharp downturn.

"The 'V' shaped recovery may seem counter intuitive, given high interest rates, deeply pessimistic levels of consumer sentiment and high cost of living pressures, however the recovery can be explained by an imbalance between supply and demand," Mr Lawless said.

<img alt="CoreLogic" data-entity-type="file" data-entity-uuid="a3e91765-dc93-4738-b4df-9f36a6551d6e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2012.43.47%20pm.png?VersionId=2eWv.dKdHlT_fwuodMNTtZWFcgITa0LD" />

"From a supply perspective, advertised stock levels have held remarkably low through 2023.&nbsp; Although inventory levels are now rebalancing as vendor activity picks up, listings remain 16.6% below the previous five-year average nationally.&nbsp; At the same time, demonstrated demand, based on the volume of homes sales, is trending roughly in line with the five-year average."

While the national index has reached a new record high, the headline figures hide a growing level of diversity in housing market conditions.&nbsp; Across the capital cities, Perth, Adelaide and Brisbane are all at record highs, with their regional counterparts Regional WA, Regional SA and Regional Queensland also at new peaks.

<img alt="CoreLogic" data-entity-type="file" data-entity-uuid="e55913d9-55cf-4cd8-abea-4e15d93d5c43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-11-22%20at%2012.46.25%20pm.png?VersionId=Mlq9pAMPAzwaaqdOUI2xGBiqzCGae8ni" />

At the other end of the scale is Hobart, where values remain -11.8% below their peak and Regional Victoria, where dwelling values are -7.0% below their record highs.

As housing values continue to trend higher across most regions, Mr Lawless said we are likely to see more areas return to record high housing values.&nbsp;

"While this is great news for home owners, for those looking to buy, affordability pressures are becoming more pressing amid rising values, high interest rates and worsening serviceability challenges.

"The good news for prospective buyers is that the pace of growth is clearly easing in some markets as advertised stock levels rise and purchasing demand remains fragile."

Tim Lawless said it took around nine months for the National HVI to move from record highs to the recent trough, then roughly 10 months to recover from the short but sharp downturn.

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