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Amid the gloom announced in yesterday’s Mid-Year Economic and Fiscal Outlook is the faint hope Treasurer Joe Hockey is broadcasting a worst case scenario to avoid economic surprises.
But on the face of it, the MYEFO forecasts hold bad news for the nation’s finances, with untrimmed deficits blowing out to $123 billion over four years.
Just last month the deficit was set to disappear by 2016-17, according to the Pre-Election Economic and Fiscal Outlook.
The MYEFO forecasts get worse to the tune of a $667 billion deficit by 2023-24.
Crikey federal politics correspondent Bernard Keane suggested one “interpretation” of the tighter MYEFO figures is that “[Treasurer Joe] Hockey has demanded Treasury slash its forecasts and give him the worst-case scenario for revenue” to avoid troubles that plagued the previous government as Treasury continually revised down revenue projections.
“The key reason is that forecasts for nominal GDP growth have been revised down, and revised down a lot,” <a target="_blank" href="https://www.crikey.com.au/2013/12/17/myefo-hockeys-budget-blows-out/">he wrote yesterday</a>.
Growth in nominal GDP as stated in PEFO was 4.5% in 2014-15, but MYEFO has revised that figure down to 3.5%, and in the following years nominal GDP is half a per cent lower than the PEFO forecasts.
“They are the lowest nominal GDP forecasts since the global financial crisis,” says Keane.
Rivkin investment firm chief executive Scott Schuberg has offered a similar sentiment to Keane’s, stating “while Labor played politics coming into the election by consistently downplaying the softening figures behind our economy, this outlook is designed to get the bad news out early so that expectations remain low before we next go to the polls”.
Schuberg said MYEFO was “more of an articulation of reality than a revelation”.
The Australian Chamber of Commerce and Industry has used the deficit number to call on Parliament to, literally, think of the children.
“Unless the budget is brought back into repair inside this budget cycle, our nation faces the unpalatable prospect that children born in 2007 will not see a government living within its means until they hit secondary school,” said ACCI chief executive Peter Anderson.
The challenge for Hockey’s team is to find a way to slice away the $123 billion forecast deficit.
But Anderson has a way, pare back the Coalition’s “excessive” paid parental leave scheme, and unwind expenditure related to carbon pricing and “expensive renewable energy schemes”.
The Australian National Retailers Association was not worried by the MYEFO news. Chief executive Margy Osmond was “slightly concerned” it would scare buyers out of shops and curtail the claw-back in Christmas retail spending.
The Institute of Chartered Accountants Australia reacted with a call to look at widening the GST tax base to address the variability in projected revenues seen over 2013.
Hockey spoke as the MYEFO figures were released yesterday when he said “taxpayers can no longer afford old government spending priorities,” as quoted in The Australian Financial Review.
“Australians will now have to adjust their expectations of what government can sustainably provide,” he said.
Expectations are that Hockey will cut from education, welfare and social spending, Phillip Coorey in the AFR states.

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This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Analysts hoping for worst case outlook after Joe Hockey reveals Mid-Year Economic and Fiscal Outlook

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Retail giant Harvey Norman’s franchises in Victoria and Tasmania have been fined a total of $116,000 for misleading customers on their consumer rights.
The fines come after <a target="_blank" href="https://www.smartcompany.com.au/legal/34724-electronics-retailers-found-to-be-breaching-consumer-law-85-of-sales-staff-got-it-wrong">consumer group CHOICE concluded 85% of the salespeople they surveyed</a> in a secret shopper investigation misunderstood their Australian Consumer Law obligations.
The Federal Court ordered three franchises, located in Sale and Hoppers Crossing in Victoria and Moonah in Tasmania, to pay fines of $28,000 each, and a fourth franchise in Launceston to pay $32,000.
Following an investigation by the Australian Competition and Consumer Commission, it was revealed that staff at the franchise stores had told consumers they had no obligation to provide remedy for damaged goods unless notified within a short period of time, such as 14 days.
They also led customers to believe they had no obligation to provide an exchange or refund for faulty goods and that they had no legal requirement to provide a remedy independent of the relevant product manufacturer.
The Launceston store went a step further and stated on customer receipts that “no claims will be honoured on damaged goods unless notified within 24 hours of delivery or pick-up”.
Consumer law specialist and partner at law firm Hall &amp; Wilcox, Ben Hamilton, told SmartCompany goods and services were protected under the ACL.
While the legislation doesn’t explicitly state terms for refunds or warranty, Hamilton said companies must be aware of their obligations “that the goods are of acceptable quality, and business can’t contract out of that”.
He says the supply of goods or services up to $40,000 worth are protected by consumer law, and that “regardless of value, any goods and services ordinarily acquired of a personal or domestic or household use” are protected.
Hamilton says businesses violating these obligations are doing so “at their own peril”.
An additional obligation retailers must now be aware of is their responsibility to offer consumers a refund or repair of all faulty big ticket purchases, regardless of the warranty conditions.
In 2011 the legislation changed which saw retailers responsible for major failures to big ticket purchases.
In these situations, the consumer gets the option to end the contract with the supplier and seek a replacement, repair of refund.
For a refresher on the obligations in the ACL, see the <a target="_blank" href="https://www.accc.gov.au/consumers/consumer-rights-guarantees/consumer-guarantees">ACCC’s guidelines on guarantees</a>.

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This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
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Harvey Norman franchisees fined $116,000 for misleading consumers

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A lower GST threshold on imports won’t happen, “full stop, end of story”, according to Prime Minister Tony Abbott in August, but the push is still on to broaden the application of the 10% tax.
Local retailers want offshore imports to be taxed like goods bought in Australia. Currently, imported goods are only taxed under the GST if they cost more than $1000.
State treasurers will meet tomorrow in Canberra with Federal Treasurer Joe Hockey to see the results of a report on changes to the GST, commissioned last year. An official in Hockey’s office said no decision was expected tomorrow.
The National Online Retailers Association chairman Paul Greenberg said there was “strong argument” for the threshold to be lowered, but “if retailers use this as a smokescreen for not keeping up with the pace, I think we’re doing ourselves no favours as an industry and we’re doing the customer no favour”.
NORA called on Australian e-commerce sites to extend into Asia and further worldwide to grow, and to use technology to improve customer experiences.
He said retailers need to “lift the bar a lot more than 10% to earn the Australian shoppers’ custom”.
Hockey has said in August that any changes to the GST need consent from all states and territories, and would be put up for debate before an election.
The opposition infrastructure spokesman, Anthony Albanese, said today Labor would oppose any “extension” of the GST, wrote Business Spectator.
Melbourne University public policy fellow Nicholas Reece told SmartCompany the issue was a “political dance” where politicians don’t want to risk a “backlash” from proposing higher taxes.
“It seems that there is a consensus that has emerged between states and the Commonwealth that online, offshore retailing is an area that needs to be examined, and it looks as though there is going to be a move to lower the threshold,” he said.
“What we’re now seeing however is a political dance as to who will be seen to be responsible for that and who will wear the opprobrium of online shoppers, to the extent that that exists on this issue.
“The government needs to be certain that the additional tax it collects is not outweighed by the admin burden for domestic consumers and online retailers through a lower threshold.”
What the key player’s said:
Joe Hockey, press statement August 7, 2013:
“Any suggestion that the Coalition wants to change the GST is just yet another Labor lie.
“The GST can’t be changed without the consent of every single state and territory, including the Labor-run states.”
Minister for Small Business Bruce Billson, in AFR, Sept 20, 2013:
“There is a need to consider the tax framework that supports our nation.”
Tony Abbott as opposition leader, ABC, August 13, 2013:
"Let me be as categoric as I can. The GST won't change, full stop, end of story."

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This article first appeared on <a href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
 
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'Lift your game' retailers say to government ahead of GST threshold meeting

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Education expense tax deductions will not be limited to a yearly $2000, part of a raft of Labor changes which will not proceed under the Coalition.
This announcement has shown the path the government will take in dealing with 92 proposed tax and superannuation measures announced but not legislated by previous governments.
Assistant treasurer Arthur Sinodinos said 18 measures would proceed, and three more would be “significantly” amended. Seven initiatives would be cut.
Removal of the statutory formula method of calculating the Fringe Benefits Tax on cars was to be removed by the former government, but <a target="_blank" href="https://www.smartcompany.com.au/financial-services-and-insurance/057518-bruised-but-optimistic-salary-packaging-industry-licks-its-wounds-after-seven-weeks-in-limbo">will now to be kept</a>, to the considerable relief of the salary packaging industry.
A $2.4 billion move to scrap Labor’s 15% tax on superannuation incomes above $100,000 has sparked a storm, with the Australian Council of Trade Unions president Ged Kearney calling it a “tax break for the rich” and while Association of Superannuation Funds of Australia chief executive Pauline Vamos welcomed it for giving “certainty”, she acknowledged the average Australian “may think it unfair”.
Sinodinos said “the complexity and compliance costs associated with this initiative are extreme and essentially undeliverable”.
Changes to so-called ‘25-90 deductions’ will not proceed. The changes announced by the previous government permitted a deduction on interest expense on borrowings used to derive certain types of foreign-sourced incomes. Tax Institute tax counsel Stephanie Caredes said the changes affect multinational businesses, but some SMEs could have been affected.
“It was a huge over-reach,” she says.
Sinodinos has set a December 1 deadline for resolving the 64 outstanding changes “with a disposition not to proceed” and aims to have them pass Parliament by July 1 next year.
One of those measures relates to how the tax regime deals with earn outs, a contingency that is negotiated during business sales when its value is not fully known.

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This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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Federal government axes seven inherited tax policies

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Strong real estate sales results from the weekend in Melbourne and Sydney have buoyed expectations for the rest of 2013, which has already seen “unprecedented” figures.
But market analysts point to icebergs on the horizon, with unknowns such as interest rates, unemployment rates and wage growth in the new year expected to level out growth.
“There are some concerns over the future direction of the local economy,” Andrew Wilson from Australian Property Monitors said. “Over the medium term house prices will be constrained by wages growth.”
According to APM, the clearance rate in Melbourne was 76.9%. There were 1,362 properties listed and 922 of them auctioned, of which 714 sold. Total sales reached $438.8 million and median prices for auctioned houses was $809,250 and units $506,750.
Activity focused on the bayside suburbs of Brighton, St Kilda, Port Melbourne and at Glenroy, and leafy, affluent Hawthorn, says Real Estate Institute of Victoria spokesman Robert Larocca.
Larocca says the above-trend market was a “really, incredible result” but next year held some signs for caution.
“What we’ve seen seems quite sustainable for the Melbourne market,” he says. “Looking into next year we have to have an eye for the wider economy.”
Wilson says the weekend in Melbourne “broke all records”, and buyers had the choice available to find an appropriate property.
In Sydney the clearance rate was 83.2%, with 689 properties listed and 459 auctioned, of which 400 sold. Total sales reached $352.3 million and median prices for auctioned houses was $1 million and units $650,000.
In Sydney, clearance rates had been above 80% for 14 of the past 16 weeks, pointing to investors re-joining the market after selling to first home buyers last year, Wilson says.
He said activity focused on the inner west, southern Sydney and the upper north shore.
Real Estate Institute of New South Wales chief executive Tim McKibbin said “confidence” had grown over the past 12 months in the state due to low interest rates.
“The momentum we’ve seen here is sustainable and will flow into next year,” he says.
He says the major problem was supply of houses for sale.
Other capitals fielded much lower totals, Brisbane had a clearance rate of 56.8% and Adelaide posted 48.7%.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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Booming property sales, but experts say don’t get too confident

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Forecasts are down for the engineering construction sector but economists are crystal-ball-gazing to see where the sector will end up.
The residential construction sector has been picked to carry the ball but its recovery has not been a swift starter. Expectations that residential will rise in the next six-12 months are not meeting actual figures.
A rise in commercial construction has also been flagged but is not expected for 18 months at least.
A BIS Shrapnel report released today states the engineering construction sector, responsible for transport, mining and other heavy industry projects, was set for a 7.6% decline this financial year. The figure is a jump on a March forecast of a 5.4% slump, The Australian reports.
The report states engineering construction peaked in 2012-13 and is expected to plummet 19% over the four years to 2016-17.
A Master Builder’s Association survey on confidence in September has shown a drop in sales, work on the books, and expected activity exceeding actual activity.
MBA chief economist Peter Jones said the construction industries were still gleaning the depth and rate of the drop in engineering construction. He said the MBA’s forecasts predicted a 9.9% drop this year and a 20% drop over three years.
He said all that was needed was a psychological change among business-holders from cost-cutting to growth, “it’s like animal spirits”.
“The key to the outlook is improving confidence,” he said. “We need to have a switch from cost-cutting mode to growth mode.”
The MBA’s September survey of business confidence, released this week stated: “Business conditions fell in the September quarter, and the best that can be said is that the index appears to be finding a floor.”
Housing Industry Association chief economist Harley Dale said the BIS Shrapel forecasts were “reasonable”.
“Residential construction is not looking like filling the void as much as we’d like it to do. It’s a recovery that is taking time to gather breadth.”
He said there was some growth overall, but if NSW and WA figures were excluded here was an insignificant 1% recovery elsewhere.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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Construction recovery guided by 'animal spirits'

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

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[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

[smartcode_project:default project_id=139989 project_image_fid=350986]

The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

[smartcode_project:default project_id=134800 project_image_fid=370647]

The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

[smartcode_project:default project_id=134800 project_image_fid=372541]

The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

[smartcode_project:default project_id=134800 project_image_fid=351535]

Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

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<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

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<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

[smartcode_project:default project_id=135247 project_image_fid=262183]

Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=135247]

Dan Moss

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