<html><body>
The decision by the WA state government to increase the first-home owners grant to $10,000 for those who purchase a new home (with only $3,000 for existing homes) from September 15 brings it into line with the other state and territory governments as part of plans to boost the take-up of new homes as the population expands.
From September 1, the ACT government will replace the $7,000 first-home owner grant  with a $12,500 grant for new homes only.
For first-home buyers, these are the grant handouts available in their state and territory markets currently as well as what’s about to change in the coming months:
<div>
<div>
(Click on the state names for links to the relevant state revenue office pages).
<a href="https://www.osr.nsw.gov.au/benefits/first_home/" rel="nofollow" target="_blank">NSW</a>
The NSW state government offers a $15,000 grant for first-home owners who purchase or build a new home valued at up to $650,000 up until January 2016.
<a href="https://www.sro.vic.gov.au/sro/sronav.nsf/alltitle/First%20Home%20Owners?open" rel="nofollow" target="_blank">Victoria</a>
The Victorian government offers a $10,000 grant to build or purchase a new home under $750,000.
<a href="https://www.osr.qld.gov.au/first-home-owner-grant/index.shtml" rel="nofollow" target="_blank">Queensland</a>
The Queensland government offers a $15,000 great start grant for first-home buyers buying or building a new home valued under $750,000.
<a href="https://www.finance.wa.gov.au/cms/content.aspx?id=344" rel="nofollow" target="_blank">Western Australia</a>
The WA government currently offers the $7,000 first-home owner grant for both existing homes and new homes. A cap limits the total value of properties (i.e. total value of home and land) to $750,000 or less, or if the home is located north of the 26th parallel to $1,000,000 or less. From September 15 the firrst-home owners grant will increase to $10,000 for those who purchase a new home with only $3,000 for those who purchase an existing home.
<a href="https://www.revenuesa.sa.gov.au/fhog/index" rel="nofollow" target="_blank">South Australia</a>
The South Australian government offers a FHOG of $15,000 for new homes. For first home buyers buying an existing home there is a First Home Owner Grant (FHOG) of $5,000, which expires on June 30 2014.
<a href="https://www.revenue.act.gov.au/home_buyer_assistance" rel="nofollow" target="_blank">ACT</a>
The ACT government offers a $7,000 grant to first home buyers buying both existing and new homes capped at the total value of home and land of $750,000 or less. This expires on August 31. From September 1 first-home buyers in the ACT will receive $12,500 if they buy or build a new home or buy one that has been substantially renovated.
<a href="https://www.sro.tas.gov.au/fhog" rel="nofollow" target="_blank">Tasmania</a>
The Tasmanian government currently offers a one-off FHOG payment of up to $7,000. The grant is not means tested and there is no cap on the value an eligible home.
There is also a First Home Builder Boost (FHBB), a payment, in addition to the FHOG, of up to $8 000. It is available for eligible applicants, purchasing a newly built home or who are owner-builders between 1 January 2013 and 30 June 2014 and who meet the required time frames for commencement and completion of the house.
Both these grants will end on June 30, 2014.
From July 1 2014, Tasmanian first-home buyers who build or buy a new home (including off-the-plan) will be entitled to a $7,000 FHOG.
<a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/HomeOwnerIncentives/Pages/default%20220213.aspx" rel="nofollow" target="_blank">Northern Territory</a>
The Northern Territory offers a first-home owner grant for both new and established homes that remains ongoing.
FHOG is not means tested however, from 1 January 2010 eligibility ceases to apply if the consideration for, or the value of the home is more than the transaction eligibility threshold (see table below). This includes the unencumbered value of the land on which a home is to be built. The amount of the transaction eligibility threshold is determined based on the commencement date of the eligible transaction.
The commencement date of an eligible transaction is:
for a contract to purchase or construct a home, the date when the contract is made; or
for an owner builder, the date the laying of the foundations commenced.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="318">
Commencement date of eligible transaction?
</td>
<td valign="top">
Transaction eligibility threshold?
</td>
</tr>
<tr>
<td valign="top" width="318">
On or after 4 December 2012?
</td>
<td valign="top">
$600 000?
</td>
</tr>
<tr>
<td valign="top" width="318">
From 1 January 2010 - 3 December 2012?
</td>
<td valign="top">
$750 000?
</td>
</tr>
<tr>
<td valign="top" width="318">
Prior to 1 January 2010?
</td>
<td valign="top">
No threshold applied?
</td>
</tr>
</tbody></table>
The amount of the grant increased on 4 December 2012 in relation to eligible transactions that commenced on or after that date. From that date, the amount of the grant also varies depending on the type of transaction and location of the property.
If the commencement date of the eligible transaction is on or after 4 December 2012, the amount of the grant is the lesser of the consideration actually paid for the eligible transaction, or:
a) $12 000 if the home is an established home in the urban area;
b) otherwise - $25 000
If the commencement date of the eligible transaction is before 4 December 2012, the amount of the grant is the lesser of the following:
a) the amount of consideration actually paid for the eligible transaction;
b) $7000
An established home is one that has been previously sold or occupied, and is lawfully fit for occupation.
An urban area means all land located wholly within the boundaries of:
<ul>
<li>the Darwin, Palmerston or Litchfield municipalities;</li>
<li>Wagait Shire;</li>
<li>the Darwin Waterfront Precinct;</li>
<li>the “prescribed area” for the Darwin Rates Act.</li>
<li>any other area prescribed by regulation.</li>
</ul>
Carrots photo courtesy of Rahims/flickr.
<ul></ul>
</div>
</div>
</body></html>

lschlesinger-FZcF9M3vE6

The new house and apartment buyers' guide - state-by-state first-home owner grant availability

<html><body>
Western Australia has followed the example of the other states by incentivising first-home buyers if they choose to buy a new home over an established home.
In the state budget released yesterday, treasurer Troy Buswell announced that from September 15 FHBs that purchase new homes will be eligible for a $10,000 first-home owner grant while those who purchase an existing home will only get $3,000.
This means that first-home buyers wanting to purchase an existing home have just over a month to access the existing $7,000 grant.
At the same time, those FHBs considering buying a new home may delay their purchase until after September 15 to take advantage of the bigger incentive.
NSW, Queensland and South Australia offer a $15,000 grant for FHBs building or buying a new home and Victoria offers $10,000 for those who buy or build a new home.
From September 1 first-home buyers in the ACT will receive $12,500 if they buy or build a new home or buy one that has been substantially renovated.
From July 1 2014 Tasmania will offer the $7,000 first-home owners grant for new home purchases only.
The Northern Territory offers a first-home owner grant for both new and established homes providing $12 000 if the home is an established home in the urban area or $25,000 everywhere else. 
Also as part of WA’s Housing Supply Package - designed to increase the supply of housing in a state, which has the fastest growing population - the state government intends to expand the number of affordable rental properties by committing an additional $47.8million for an extra 1,000 homes under the National Rental Affordability Scheme (NRAS).
It will also aim to streamline residential planning and building approvals processes to ensure the supply of new housing is not held up in red tape.
</body></html>

WA bumps up first-home owner grant to $10,000 for new homes

<html><body>
Investorist, a new business-to-business (B2B) website has been launched linking up marketers and developers of off-the-plan residential projects with estate agents, buyers agents and other professionals recommending residential investments to their clients.
Already boasting a third of Victoria’s off the plan property projects,<a href="https://www.investorist.com/" target="_blank"> Investorist </a>has ambitions to be the largest aggregation of off the plan property in Australia by 2014.
<a href="https://www.investorist.com/" target="_blank"><img src="/images/stories/2013/08/investorist-aug-22-one.jpg" alt="investorist-aug-22-one" width="470" height="603"></a>
Investorist makes it possible for developers and project marketers ('sellers' according to the site's terminology) to network and transact directly with registered 'network partners' - those estate agents and buyers' agents seeking off-the-plan apartments for their clients.
Sellers can list stock available for sale with prices, commissions, contract details and track deals from reservation to settlement.
There are also tools to track the overall progress of a sales campaign, cashflow generated and commission payments.
Sellers can also choose to invite their own contacts and filter the network partners they want to access their stock based on feedback ratings, transaction history, geography and commissions.
Network partners can search across projects according to their requirements, send selections to their clients and negotiate direclty with sellers.
Members of the public can also undertake searches with access to limited project information and contact details of the seller.
The website has been created by off the plan property marketing specialist Jon Ellis, whose previous roles have included being marketing manager at listed developer Mirvac Group.
Ellis says the idea of the website is to facilitate direct communication in the promotion and selling of residential developments by breaking down all previously existing barriers between sellers and network partners.
At launch the platform has 90 off the plan projects listed with almost one third of Victoria’s off the plan property market listed on Investorist.
Companies that have signed on including CBRE, Australand, Knight Frank, BPM, AXF Group, Salvo Property Group and Crown Group.
Until the end of August, sellers and network partners will be able to register and transact on the Investorist platform for free. 
After that, a $25 per transaction fee for every property reservation will apply.
</body></html>

Investorist website links residential developers with off the plan marketers

<html><body>
The Commonwealth Bank has become the first major bank lender to announce cuts to its fixed-rate home loans in the wake of this week's RBA cash rate cut.
Australia's biggest home loan provider has cut the interest rate on its three-year fixed rate home loans by 10 basis points to 4.89% per annum.
The new rate is inclusive of any package discounts and required a minimum loan amount of $150,000.
The new rate kicks in from tomorrow (Friday 9 August) and is available to new and existing customers who take out a new fixed rate home/investment home loan or switch into one of these products.
The bank has also committed to beating the advertised rates on one-to-five year fixed rate home loans from competitors ANZ, NAB, Westpac, St George, Bank of Melbourne, and Bank SA for the next seven weeks.
 
Commonwealth Bank acting executive general manager for retail products and customers, Clive van Horen says customers are increasingly looking to lock in a competitive rate, with some fixed rate terms at historic lows. 
“Some of our fixed home loan rates are at 20 year lows, so now is a great time for customers looking for a guaranteed rate across either the short to medium term.”
</body></html>

Commonwealth Bank cuts three-year fixed rates to 4.89% and makes fixed-rate pledge

<html><body>
The unemployment rate remained unchanged at 5.7% in July, the latest ABS figures show.
Market expectations were for the unemployment rate to rise to 5.8% over July.
The number of people employed decreased by 10,200 to 11,653,200 in July.
This was offset by the number of people unemployed decreasing by 5,700 people to 705,400 in July as well as the seasonally adjusted labour force participation rate decreasing 0.2 percentage points to 65.1% in July.
The decrease in employment was due to decreased full-time employment, down 6,700 people to 8,133,900, and part-time employment, down 3,500 to 3,519,300.
Full-time and part-time employment decreased for both females and males.
The highest unemployment rate is in Tasmania (down from 9% to 8.2%) and the lowest is in WA (unchanged at 4.6%).
The biggest unemployment rate rise was in South Australia - up from 6.1% in June to 7.1% in July.
</body></html>

Unemployment rate remains unchanged at 5.7% in July

<html><body>
A Melbourne-based “passive” investor has paid $480,000 above the reserve to acquire the Commonwealth Bank’s Lilydale premises for $2.88 million as part of a Burgess Rawson portfolio auction. 
The sale at a 20% premium to the reserve price demonstrates the appeal of well-located bank premises with secure ASX-listed tenants. 
The property was last acquired for $1.75 million by a Lilydale-based investor less than five years ago, representing annual capital growth in excess of 10%. 
“It’s a sweet return when you add in the annual rent as well,” says Burgess Rawson’s Billy Holderhead. 
The recently refurbished two level 630 square metre building with two ground floor ATMs is rented by the Commonwealth Bank for five years with renewal options to 2025. 
The bank pays annual rent of around $129,000 per annum equating to a “very strong” yield of 4.49%. 
It was marketed by Raoul Holderhead and Jamie Perlinger of Burgess Rawson. 
At a Burgess Rawson portfolio auction in April, an investor paid $1.41 million at auction yesterday for the 491 square metre premises of the Commonwealth Bank on a corner site in the Swan Hill CBD in the Murray River region. The sale represented a yield of around 7% for the buyer. 
Another bank branch, the NAB outlet on Sydney Road in Kilmore, bringing in annual rent of around $39,000, sold for $800,000 to local investor after it was passed-in on a vendor bid of $820,000 – a yield of around 5%. 
In April, an ANZ bank branch in the Victorian heritage country town of Korumburra in South East Gippsland sold at auction today $462,000 well above pre-auction hopes of around $325,000 with bids starting $300,000. 
There were around six bidders and the property sold on a yield of around 5.2%.
</body></html>

Commonwealth Bank’s Lilydale premises prove a cash cow at auction

<html><body>
The peak body for professionals that provide advice on the fast expanding self-managed super fund sector (SMSF) is urging that real estate agents who recommend these investments and mortgage brokers who arrange financing for them be required to hold a licence.
It follows a growing number of cases and complaints against so-called “spruikers” targeted at unwary investors through free introductory lunches as well as ASIC clamping down on unscrupulous operators that don’t disclose the risks of such investments.
SMSF Professionals' Association of Australia (SPAA) chief executive Andrea Slattery, has told the Australian Financial Review it wants Treasury to licence mortgage brokers and real estate agents that provide advice in this area.
SPAA offers its own SMSF adviser and SMSF auditor accreditations.
Mortgage brokers and real estate agents are not a big chunk of the SPAA membership, which counts accountants, auditors, financial planners, lawyers, risk providers, actuaries, administrators and educators among its members.
She says there has been talk of greater regulation of those who provide SMSF advice, but little action to date.
In February ASIC said it was considering increasing its powers to include oversight of property investments schemes recommended to self-managed super funds, but nothing formal has been proposed to date.
In April, it released a report on the quality of advice in the sector and ways to improve it.
ASIC found that while most advice provided was rated as adequate there were pockets of poor advice.
ASIC found issues in the following areas: 
<ul>
<li>advice was not sufficiently tailored to the needs of the investor</li>
<li>replacement product disclosure was absent or inadequate</li>
<li>insurance recommendations were absent or inadequate</li>
<li>an inappropriate single asset class was provided to investors</li>
<li>suitable alternatives to an SMSF were not considered, and</li>
<li>there was inadequate consideration of the investor’s long-term retirement planning objectives.</li>
</ul>
APRA superannuation figures to the end of March show that SMSF assets increased from $473.9 billion to $496.2 billion for a $22.3 billion or 4.7% gain over the quarter with sector accounting for almost a third (31.5%) of the total $1.58 trillion superannuation pool.
According to SPAA research, more than three quarters of SMSF trustees buy assets such as property and shares directly rather than through a managed fund.
In May, ASIC cancelled the credit licence of Money Choice and banned its director, Matthew George, after an investigation found failures to comply with credit laws, responsible lending shortfalls and instances of unlicensed self-managed superannuation fund (SMSF) advice.
In April, it was revealed that <a target="_blank" href="/news">four Melbourne businesses running seminars on investing in real estate through SMSF</a>s are being investigated by ASIC over the potentially misleading nature of flyers, advertisements and online ads promoting these seminars.
</body></html>

Real estate agents and mortgage brokers must have SMSF licence: SPAA

<html><body>
The decision by the Reserve Bank to cut the cash rate to 2.5% in August is unprecedented with the benchmark borrowing rate now well below the previous lowest 'cash rate' setting of 2.89% of January 1960.

This was not the official benchmark figure it is today, since the Reserve Bank did not publish a cash rate target until January 1990.
Rather the cash rate was a proxy measure of short-term interest rates at a time when the banking sector was highly regulated and getting a home loan meant making an appointment with your bank manager and wearing your best suit to an interview.
Putting into more meaningful terms - the cash rate is now 50 basis points below what it was at the peak emergency setting following the GFC, though without the dramatic 75 and 100 basis point leaps that were necessary back then to keep the economy from stalling, or worse, going into reverse gear.
The RBA's plan now, as expressed by Brian Redican, senior economist of Macquarie Research, is to get non-mining sectors of the economy to fire (including housing, tourism, manufacturing and retail) by gradually lowering the cash rate to counter rising unemployment and slowing economic growth.
The latest <a target="_blank" href="/news">housing finance figures for June</a> and yesterday's ABS capital city house price figures suggest momentum is building.
Furthermore, mortgage rates are approaching what they were following the GFC - but an indication of how the banks have clawed back margins on home loans; to achieve this the RBA has needed to cut the cash rate to 2.5% in mid-2013, compared with 3% in May 2009.
The chart below, prepared by ANZ, shows the standard variable home lending rate and the discounted variable home lending rate.
The discounted rate is now broadly equal to the lows achieved at the peak of the Global Financial Crisis, while the standard variable rate is around 20 basis points above those lows.
Apart from this period, these rates are the lowest since the late 1960s/early 1970s.
<img alt="anz_loans" height="304" width="470" src="/images/stories/2013/larry_uploads/anz_loans.jpg">
Despite this revival in housing and the enticement offered through low rates, it would be naive of anyone to call the economy and housing market swinging like the 1960s, the last time the cash rate had a "two" in front of it.
Back then, there were no foreign banks, no discount online mortgage offerings, nor the plethora of different mortgage products tailored for different types of borrowers and investors.
There were no honeymoon rates, low-doc loans, reverse mortgages, packaged home loans or off-set accounts with such product innovation only coming to the fore in the late 1990s and early 2000s.
Getting a good home loan rate meant having a good relationship with your bank manager.
The headline home loan rate was also lower at 5.00% through 1959 and 1960, according to <a target="_blank" href="https://www.propertyobserver.com.au/economy/a-return-to-the-1950s-glory-days-is-on-the-cards-commsec-s-craig-james/2013050861160?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=economy">CommSec chief economist Craig James</a> compared with an average variable rate heading below 5.5% following the August rate cut.
However, a standard variable rate would not even have been quoted in 1960s, with most home loans on fixed-rates with "flexible" mortgage rates only appearing more commonly in the mid-1960s. Certainly most of the Commonwealth Bank's lending would have been done on fixed-rates. 
Assistant RBA governor Guy Debelle pointed out in a speech in 2010 the differences between mortgage lending today and 40 and 50 years ago.
"In the 1960s and early 1970s, the Australian financial system was heavily regulated," Debelle said.
He highlighted a number of wide-ranging controls including that interest rates that banks could charge on their loans and pay on their deposits were controlled.
"Banks were subject to reserve ratios and liquidity ratios. There were directives on the overall quantity of loans banks should make, as well as moral suasion on who they should lend to.
"Institutions were specialised – trading banks lent to businesses, savings banks held large quantities of government debt and lent to households (almost entirely for housing), and finance companies lent for more risky property loans and consumer credit," he explained.
Finance companies likes of the Finance Corporation of Australia funded Alan Bond's first property speculations now subsumed into ANZ-owned Esanda.
However, this heavy regulation of the banks would later result in them losing market share as the unregulated financial sector, primarily building societies moved in.
The banks’ share of total financial intermediary assets declined from nearly 90% in the early 1950s to 70% in 1970.
"The banks’ share of housing credit was just below 60% in 1976 with much of the rest of the mortgage market being provided by credit unions and building societies. Finance companies, which were generally associated with the banks, often provided top-up funding to bank mortgages but were not a particularly large share of the overall market," explained Debelle.
Compare this with today's mortgage market where banks have 96% of outstanding home loans and credit unions and building societies just 4%.
And there are other differences.
It certainly was not possible as it is today to contact your mortgage broker if you felt you were paying too high an interest rate and ask them to source a better deal with another lender.
Or demand that your bank offer you a better rate.
In 1959/60 Australia's GDP growth was 4.4% compared with 3.1% through 2013.
The unemployment rate was under 2% compare with the current 5.7%, meaning decidely fewer borrowers were worrying about paying off their mortgages.
It certainly was not the market-driven banking and lending system we have today while a high Australian dollar - a key factor in the RBA's decision to cut the cash rate on Tuesday - was not a problem as the currency only floated in 1983.
The floating of the dollar coincided with federal treasurer Paul Keating deregulating the banking system between 1983 and 1985 granting 40 new foreign exchange licences in June 1984; and granting 16 banking licences to 16 foreign banks in February 1985.
Australia’s sixth biggest mortgage lender, ING Direct, only began offering its cheap online home loans and high-interest savings accounts in 1999.
Bear in mind that in 1960, the Reserve Bank of Australia had only just come into official being in under the Reserve Bank Act 1959, tasked with undertaking the central banking functions of the Commonwealth Bank.
The Commonwealth Bank as we know it today, originated from this date offering commercial banking and savings banking activities in the form of the newly created Commonwealth Banking Corporation.
Monetary policy was of course entirely different with no RBA imperative to maintain an inflation target of between 2% and 3%.
And it’s not just the nature of the banking system that was so different, house prices had yet to boom as they did in the 1990s and 2000s.
Housing was far more affordable meaning mothers did not have to go out into the workforce to help pay for the mortgage and buying your first home was not the financial commitment it is today.
The boom in property values prior to the GFC saw house price to income ratios of less than to two in the 1960s rise to above four to one currently.
As for household debt that's in a different stratosphere.
In 1960 household debt to Australia’s GDP was less than 20%.
Today it’s just under 150%.
</body></html>

Reserve Bank takes cash rate back to pre-1960s but economy not quite swinging yet

<html><body>
The June ABS housing finance data indicates that the mortgage market has enjoyed its strongest start to a calendar year in four years.
The number of home loans to owner occupiers rose 2.7% over June to 51,001 mortgage commitments, well above economists’ expectations of a 2% rise and the sixth successive month that this key housing market metric has increased.
CommSec chief economist Craig James says that over the first six months of 2013, housing finance has lifted by 13.8%, with loans to build new homes having risen for seven consecutive months and above both five-year and 10-year averages.
The number of home loan commitments trended up in all states, led by the resource states of WA and Queensland, which have gained 18.5% and 19.9% respectively over the past 12 months, but with strong growth also recorded for the ACT (14.3%), SA (13.9%), NSW (10.5%) and Victoria (7.7%).
Loans are up by 5.3% annually in Darwin, with Tasmania the weakest state with just 2.1% annual growth.
Indicating the impact of lower home loan rates, the value of loans that were refinanced in June was a record $4.43 billion, up 13.4% over the year - though appetite for fixed-rate home loans eased from 19.1% of all loans to 17.8% in June
There was also a small improvement in the size of the first-home buyers’ market, whose share of total loans taken up edged up from 14.6% to 15.1%, though still below the long-term average of 20%.
Loans to investors fell slightly in June but are a reasonably strong 18.3% higher over the past year, notes Michael Workman from the Commonwealth Bank.
Craig James found both positive and negative trends in the June data noting that despite mortgage rates at their lowest in over 50 years the value of all new loans (excluding refinancing) is still is over 4% below the highs set five years ago.
“In short, borrowers remain cautious – especially first-home buyers.
“Despite some of the most attractive buying conditions in years, the proportion of first home buyers in the market is still well down on the average levels recorded over the past 22 years.
“The good news is that more people are taking out loans to build new homes rather than buying established properties. The revised grants from state governments are helping to lift construction, as is the low level of interest rates,” he says.
James says the rise in mortgage lending equates to “more homes being bought and more homes being built.
“So housing is well placed to provide a boost to the economy and take over growth leadership from mining,” he says.
Macquarie Research senior economist Brian Redican described the better than expected June housing finance figures as a sign that this is “one [non-mining] sector that is moving forward” that hopefully has a bit of momentum behind, but said the rise would not be  reason to stop cutting rates with the RBA looking to encourage more first-home buyers and investors into the market.
However only a 0.2% rise in loans for the purchase of new dwellings remains a “minor concern” said Redican as part of comments reported by Fairfax.
</body></html>

Mortgage market rally continues with 2.7% rise in home loan commitments in June, but still scope for further rate cuts

<html><body>
The outlook for the retail property market remains distinctly gloomy with an oversupply of retail property expected to persist until at least 2016 and with capital values and rents still falling, according to the sentiments of 300 property industry participants surveyed by NAB as part of its June quarter commercial property market survey.
The reading of the retail property index was below its long-term average of -25 points in the June quarter and still the weakest segment in the commercial property market.
Retail property market sentiment was negative in all states in the June quarter, except in WA, though it still recorded a drop in state index from 10 to 0 points.
Sentiment improved most in Queensland (up 28 to -5 points) and NSW (up 3 to -26 points) but fell heavily in both Victoria (-50 points) and SA/NT (-50 points).
Sentiment is expected to improve in all states in the next year, led by Queensland (+18 points), WA (+8 points) and NSW (+8 points).
<img alt="nab_retail_index" height="279" width="470" src="/images/stories/2013/nab_retail_index.jpg">
“The retail property market remained subdued in the June quarter with sentiment little changed during the quarter,” says NAB chief economist Alan Oster.
“Despite subdued retail spending, however, it is possible that sentiment may have benefited from the recent depreciation of the Australian dollar and another interest rate cut in May.
“That said, expectations in the retail market were scaled back in the June quarter - a result consistent with the latest readings from the NAB Business Surveys which indicate that retail trading conditions worsened sharply in June while confidence among retailers was negative.
“This suggests that sentiment in retail property markets may continue to flounder in the near-term.
With few signs of turnaround on the horizon, the outlook is not expected to turn positive until June 2015, but still well below the commercial property average. 
The retail outlook is weakest for Victoria, South Australia and Northern Territory and brightest for Queensland, WA and NSW.
Participants in the survey expect that excess supply will be “slowly worked out” and that neutral  conditions - where demand and supply are in synch - are three to five years away.
Over the June quarter, retail property recorded the steepest fall in capital values of 1.5% compared with 0.7% fall in office property values and a 0.5% decline in the industrial sector.
CBD hotels remained the strongest performing sector over the quarter with a 0.3% rise in capital values.
Average capital values for retail property are tipped to fall 0.6% in next 12 months with a very modest rise of 0.3% forecast over the next two years.
The retail property sector also recorded the steepest fall in rents (-2% compared with a 1.2% fall for offices and 0.9% fall for industrial property) as well as the highest level of rental incentives over the quarter.
The steepest fall in rental returns were in Victoria (-2.7%), NSW (-2%), SA/NT (-3.8%) with flat growth in WA.
Average retail rents are expected to fall by -0.3% over the next 2 years (downgraded from 0.1% previously), with property professionals predicting negative income returns for retail property in NSW (-0.9%), SA/NT (-0.8%) and Victoria (-0.6%).
The only partial bright spot for retail property was a tightening in the vacancy rate from 5.4% in the March quarter to 4.8% in the June quarter.
The highest vacancy rates are in Queensland (5.8%) and Victoria (4.8%) with the lowest in WA (3%).
However, retail vacancies are expected to continue climbing over the next year to 5% before easing back to 4.4% by mid-2015.
</body></html>

No recovery in retail property till at least 2015: NAB Commercial property survey

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News