<html><body>
About 2,000 of the 40,000 mortgage holders who signed up for the One Big Switch campaign have entered into discussions with lenders about refinancing their mortgages, campaign founder Lachlan Harris has told Property Observer.
“It has been a great campaign and we’ve had a great response,” Harris says.
He says One Big Switch will launch more home loan offers before Christmas, which he promises will have the “sharpest rates in the market”.
Harris says feedback from lenders indicates that borrowers want to feel they are part of the experience of creating their mortgage products.
“People power is bringing about products that don’t exist anywhere else,” he says.
Harris says One Big Switch is currently in discussion with other lenders who are keen to join the campaign.
He has previously had to defend One Big Switch’s current panel of lenders after mortgage broker <a href="/news">AFG slammed the campaign for not attracting any major lenders</a>.
A recent One Big Switch tweet noted that the current panel of lenders includes non-banks Resimac and Firstmac, “funded by NAB” and MortgageEzy “funded by ING”.
One Big Switch next campaigns will target broadband and solar energy costs.
“If you have a house, you should not being the pay full rate on these services,” Harris says.
About 750 One Big Switch subscribers are in discussions with providers about switching their electricity providers.
 
</body></html>

lschlesinger-FZcF9M3vE6

One Big Switchers begin talking with mortgage lenders

<html><body>
Nine out of the 10 Sydney suburbs experiencing the highest levels of housing stress are in Sydney’s western suburbs, a study by lobbying group Australians for Affordable Housing (AAH) has found. 
The suburb in the worst housing strife is Auburn, about 19 kilometres west of the Sydney CBD, where more than a quarter (28%) of residents are experiencing housing stress, followed by Fairfield (25%), Canterbury (24%) and Strathfield (21%). 
AAH defines housing stress as being the lowest 40% of equivalised household incomes who spend more than 30% of their income on housing costs. 
“A very wealthy person could easily decide to spend a large amount on a big house and still have plenty in dollar terms left over for everything else. So when someone in that bottom 40% is paying more than 30% of their income in housing costs, they are said to be in housing stress,” a spokesperson for AAH explained. 
The outer-western suburb of Fairfield has the highest proportion of people experiencing both mortgage stress (34%) and private rental stress (51%). 
Mortgage stress means those using more than 30% of the household income on mortgage repayments, and private rent stress means those in private rental using more than 30% of the household income on rental payments.
Botany Bay, near Sydney airport, is the only suburb not located in the city’s west to feature in the top 10 most stressed suburbs, with 19% of its residents experiencing housing stress, 18% experiencing mortgage stress and 34% experiencing private rent stress.
<table style="width: 378px;" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="143">
LGA
</td>
<td valign="top" width="69">
% in housing stress
</td>
<td valign="top" colspan="2" width="103">
% in mortgage stress
</td>
<td valign="top" colspan="2" width="63">
% in rent stress
</td>
</tr>
<tr>
<td valign="top" width="143">
Auburn (C)
</td>
<td valign="top" width="69">
28
</td>
<td valign="top" colspan="2" width="103">
33
</td>
<td valign="top" colspan="2" width="63">
44
</td>
</tr>
<tr>
<td valign="top" width="143">
Fairfield (C)
</td>
<td valign="top" width="69">
25
</td>
<td valign="top" colspan="2" width="103">
34
</td>
<td valign="top" colspan="2" width="63">
51
</td>
</tr>
<tr>
<td valign="top" width="143">
Canterbury (C)
</td>
<td valign="top" width="69">
24
</td>
<td valign="top" colspan="2" width="103">
28
</td>
<td valign="top" colspan="2" width="63">
46
</td>
</tr>
<tr>
<td valign="top" width="143">
Strathfield (A)
</td>
<td valign="top" width="69">
21
</td>
<td valign="top" colspan="2" width="103">
22
</td>
<td valign="top" colspan="2" width="63">
37
</td>
</tr>
<tr>
<td valign="top" width="143">
Liverpool (C)
</td>
<td valign="top" width="69">
21
</td>
<td valign="top" colspan="2" width="103">
23
</td>
<td valign="top" colspan="2" width="63">
40
</td>
</tr>
<tr>
<td valign="top" width="143">
Bankstown (C)
</td>
<td valign="top" width="69">
21
</td>
<td valign="top" colspan="2" width="103">
27
</td>
<td valign="top" colspan="2" width="63">
44
</td>
</tr>
<tr>
<td valign="top" width="143">
Holroyd (C)
</td>
<td valign="top" width="69">
20
</td>
<td valign="top" colspan="2" width="103">
21
</td>
<td valign="top" colspan="2" width="63">
35
</td>
</tr>
<tr>
<td valign="top" width="143">
Burwood (A)
</td>
<td valign="top" width="69">
19
</td>
<td valign="top" colspan="2" width="103">
22
</td>
<td valign="top" colspan="2" width="63">
35
</td>
</tr>
<tr>
<td valign="top" width="143">
Botany Bay (C)
</td>
<td valign="top" width="69">
19
</td>
<td valign="top" colspan="2" width="103">
18
</td>
<td valign="top" colspan="2" width="63">
34
</td>
</tr>
<tr>
<td valign="top" width="143">
Campbelltown (C)
</td>
<td valign="top" width="69">
19
</td>
<td valign="top" colspan="2" width="103">
20
</td>
<td valign="top" colspan="2" width="63">
36
</td>
</tr>
<tr>
<td valign="top" width="143">
Parramatta (C)
</td>
<td valign="top" width="69">
19
</td>
<td valign="top" colspan="2" width="103">
20
</td>
<td valign="top" colspan="2" width="63">
31
</td>
</tr>
<tr>
<td valign="top" width="143">
Blacktown (C)
</td>
<td valign="top" width="69">
18
</td>
<td valign="top" colspan="2" width="103">
18
</td>
<td valign="top" colspan="2" width="63">
36
</td>
</tr>
<tr>
<td valign="top" width="143">
Rockdale (C)
</td>
<td valign="top" width="69">
18
</td>
<td valign="top" colspan="2" width="103">
21
</td>
<td valign="top" colspan="2" width="63">
33
</td>
</tr>
<tr>
<td valign="top" width="143">
Ashfield (A)
</td>
<td valign="top" width="69">
18
</td>
<td valign="top" colspan="2" width="103">
13
</td>
<td valign="top" colspan="2" width="63">
32
</td>
</tr>
<tr>
<td valign="top" width="143">
Sydney (C)
</td>
<td valign="top" width="69">
17
</td>
<td valign="top" colspan="2" width="103">
8
</td>
<td valign="top" colspan="2" width="63">
23
</td>
</tr>
<tr>
<td valign="top" width="143">
Penrith (C)
</td>
<td valign="top" width="69">
17
</td>
<td valign="top" colspan="2" width="103">
17
</td>
<td valign="top" colspan="2" width="63">
35
</td>
</tr>
<tr>
<td valign="top" width="143">
Hurstville (C)
</td>
<td valign="top" width="69">
17
</td>
<td valign="top" colspan="2" width="103">
19
</td>
<td valign="top" colspan="2" width="63">
35
</td>
</tr>
<tr>
<td valign="top" width="143">
Marrickville (A)
</td>
<td valign="top" width="69">
16
</td>
<td valign="top" colspan="2" width="103">
9
</td>
<td valign="top" colspan="2" width="63">
29
</td>
</tr>
<tr>
<td valign="top" width="143">
Kogarah (C)
</td>
<td valign="top" width="69">
15
</td>
<td valign="top" colspan="2" width="103">
18
</td>
<td valign="top" colspan="2" width="63">
34
</td>
</tr>
<tr>
<td valign="top" width="143">
Randwick (C)
</td>
<td valign="top" width="69">
15
</td>
<td valign="top" colspan="2" width="103">
12
</td>
<td valign="top" colspan="2" width="63">
25
</td>
</tr>
<tr>
<td valign="top" width="143">
Ryde (C)
</td>
<td valign="top" width="69">
14
</td>
<td valign="top" colspan="2" width="103">
13
</td>
<td valign="top" colspan="2" width="63">
29
</td>
</tr>
<tr>
<td valign="top" width="143">
Camden (A)
</td>
<td valign="top" width="69">
14
</td>
<td valign="top" colspan="2" width="103">
14
</td>
<td valign="top" colspan="2" width="63">
32
</td>
</tr>
<tr>
<td valign="top" width="143">
Waverley (A)
</td>
<td valign="top" width="69">
13
</td>
<td valign="top" colspan="2" width="103">
9
</td>
<td valign="top" colspan="2" width="63">
21
</td>
</tr>
<tr>
<td valign="top" width="143">
Warringah (A)
</td>
<td valign="top" width="69">
11
</td>
<td valign="top" colspan="2" width="103">
11
</td>
<td valign="top" colspan="2" width="63">
26
</td>
</tr>
<tr>
<td valign="top" width="143">
Hornsby (A)
</td>
<td valign="top" width="69">
11
</td>
<td valign="top" colspan="2" width="103">
12
</td>
<td valign="top" colspan="2" width="63">
30
</td>
</tr>
<tr>
<td valign="top" width="143">
SutherlandShire(A)
</td>
<td valign="top" width="69">
10
</td>
<td valign="top" width="101">
11
</td>
<td valign="top" colspan="2" width="63">
26
</td>
<td width="2">
 
</td>
</tr>
<tr>
<td valign="top" width="143">
Willoughby (C)
</td>
<td valign="top" width="69">
10
</td>
<td valign="top" width="101">
9               
</td>
<td valign="top" colspan="2" width="63">
21
</td>
<td width="2">
 
</td>
</tr>
<tr>
<td valign="top" width="143">
Pittwater (A)
</td>
<td valign="top" width="69">
10
</td>
<td valign="top" colspan="2" width="103">
11
</td>
<td valign="top" colspan="2" width="63">
31
</td>
</tr>
<tr>
<td valign="top" width="143">
Manly (A)
</td>
<td valign="top" width="69">
10
</td>
<td valign="top" colspan="2" width="103">
8
</td>
<td valign="top" colspan="2" width="63">
20
</td>
</tr>
<tr>
<td valign="top" width="143">
The Hills Shire (A)
</td>
<td valign="top" width="69">
10
</td>
<td valign="top" colspan="2" width="103">
11
</td>
<td valign="top" colspan="2" width="63">
26
</td>
</tr>
<tr>
<td valign="top" width="143">
Canada Bay (A)
</td>
<td valign="top" width="69">
10
</td>
<td valign="top" colspan="2" width="103">
10
</td>
<td valign="top" colspan="2" width="63">
17
</td>
</tr>
<tr>
<td valign="top" width="143">
Leichhardt (A)
</td>
<td valign="top" width="69">
10
</td>
<td valign="top" colspan="2" width="103">
5
</td>
<td valign="top" colspan="2" width="63">
18
</td>
</tr>
<tr>
<td valign="top" width="143">
Lane Cove (A)
</td>
<td valign="top" width="69">
9
</td>
<td valign="top" colspan="2" width="103">
7
</td>
<td valign="top" colspan="2" width="63">
20
</td>
</tr>
<tr>
<td valign="top" width="143">
Woollahra (A)
</td>
<td valign="top" width="69">
9
</td>
<td valign="top" colspan="2" width="103">
7
</td>
<td valign="top" colspan="2" width="63">
19
</td>
</tr>
<tr>
<td valign="top" width="143">
Hunters Hill (A)
</td>
<td valign="top" width="69">
9
</td>
<td valign="top" colspan="2" width="103">
8
</td>
<td valign="top" colspan="2" width="63">
19
</td>
</tr>
<tr>
<td valign="top" width="143">
Mosman (A)
</td>
<td valign="top" width="69">
8
</td>
<td valign="top" colspan="2" width="103">
7
</td>
<td valign="top" colspan="2" width="63">
17
</td>
</tr>
<tr>
<td valign="top" width="143">
North Sydney (A)
</td>
<td valign="top" width="69">
8
</td>
<td valign="top" colspan="2" width="103">
5
</td>
<td valign="top" colspan="2" width="63">
13
</td>
</tr>
<tr>
<td valign="top" width="143">
Ku-ring-gai (A)
</td>
<td valign="top" width="69">
6
</td>
<td valign="top" colspan="2" width="103">
8
</td>
<td valign="top" colspan="2" width="63">
24
</td>
</tr>
<tr height="0">
<td width="142"></td>
<td width="69"></td>
<td width="103"></td>
<td width="2"></td>
<td width="61"></td>
<td width="2"></td>
</tr>
</tbody></table>
 *This  league  table  provides  for  comparison  of  small  local  areas  and  is  based  on  modelled  census   numbers.  These    are  not  directly  comparable  with  recently  published  housing  stress  modelling  on   ABS  Survey  of  Income   and  Housing  data. 
AAH campaign manager Sarah Toohey says the figures show where the pain is being felt and that urgent action by the NSW and Commonwealth governments is needed.
“Sydney needs a housing strategy that includes more than releasing land on the city fringe. Premier O’Farrell needs to invest in more affordable housing options close to jobs and services to reduce the squeeze on weekly budgets,” she says.
“Housing is the single biggest cost of living issue in Australia. When low-income households spend more than 30% of their income on housing costs they are officially in housing stress. This means they have very little left over to cover other costs like food, transport, bills or money for emergencies.”
“Australians for Affordable Housing is urging Sydney residents in housing stress to join the campaign to convince governments to address the housing crisis.
“We need collective action at all levels of government to ensure that we fix our broken housing system, and take the pressure off families struggling with high housing costs and lack of affordable options,” she says. 
Australians for Affordable Housing is a coalition of national housing, welfare and community sector organisations.
Photograph by Rory O'Brien
 
 
</body></html>

Western suburbs dominate list of Sydney housing stress

<html><body>
Leases for 20 pubs that form part of Redcape’s property portfolio are to be sold in February by the receivers of failed pub owner National Leisure and Gaming (NLG).
NLG is Redcape’s major tenant, contributing approximately 38.7% of the annual rent received by the trust.
Three of the leases are for pubs that ranked in the top 10 for gaming turnover in NSW last year – the El Cortez in Wakeley and the Eastwood and Cabramatta Club hotels – The Australian reported. Most of the leases are in Queensland and New South Wales.
The 20 leases were valued at between $70 million and $80 million when the Laundy Hotel Group bid for them earlier this year, but they have declined in value due to NLG being placed in receivership in October owing its lenders $580 million.
Redcape is currently in discussions with an investor group comprising affiliates of York Capital Management, Värde Partners, Inc. and Goldman Sachs to negotiate a recapitalisation proposal.  The exclusivity period for the discussions expires on November 28.
Since July, the consortium has been frustrated in its attempts to secure control of Redcape via a $635 million recapitalisation proposal launched in July.
The proposal was rejected by junior lenders to Redcape as being at too great a discount.
Redcape has a property portfolio comprised of 82 properties including 71 pubs and 11 shops based mainly in Queensland and NSW, with a small number of properties in Victoria and SA.
In May the consortium bought 38% of Redcape's $645 million worth of secured senior debt for around $200m and also acquired all of the $157 m worth of debt of National Leisure and Gaming, Redcape’s major tenant for between $ 35m and $40m.
More than half (45) of RedCape’s properties are leased to Coles.
The listed pub sector was battered during the GFC and according to industry sources quoted in the Australian Financial Review is “massively over rented” (meaning pubs are currently rented above their estimated market rental value), due to the rapid expansion of the corporate leasehold market in the mid-2000s when financing was cheaply available.
Earlier this month, he management rights of ING Real Estate Entertainment Fund (ING REEF) were transferred to a New Zealand fund manager.
The ING investment trust, comprising 22 pubs and 15 clubs, which are worth around $235 million, will be managed by Bodiam RE Ltd a subsidiary of the Torchlight Group for “nil consideration”, The Australian reported.
Torchlight is a subsidiary of New Zealand-based pub owner Payne Gould, which has a 17% stake ING REEF.
ING management had been hoping to sell the management rights for $2 million to $3 million.
 
</body></html>

NLG receivers to sell 20 pub leases 

<html><body>
Sydney is the only major capital city to register an increase in apartment prices over the past 12 months as the overall market declined by 1.57% for the year to October 2011, according to research by Residex.
Over this period Sydney units increased by 2.77% to a median price of $485,500. However this growth rate was a little more than half the 5.05% achieved annually by Sydney units over the last decade.
Of late, Sydney unit prices have remained flat, declining by 0.54% over the last three months to October and rising just 0.42% of the month of October.
Rental increases have not kept up with capital values.
For the year to October, Sydney unit rents increased by 2.27% to a median of $440 per week, below Darwin, which at $450 a week is the most expensive place to rent an apartment across Australia.
According to Residex, the average price of a unit in Australia now stands at $394,500 with a median rent of $355 a week.
Over the last 12 months, Perth suffered the biggest drop in unit prices of 6.55% to $379,000 followed by Hobart (- 5.94%), Brisbane (- 3.48%), Melbourne (- 3.31%) and Adelaide (-1.08%).
Outside of Sydney, the only regions to record median unit prices increases over the last 12 months were the ACT (up 2.75% to $422,000) and country Victoria (up 1.79% to $255,500).
 
<table style="width: 415px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2">
Area
</td>
<td rowspan="2">
Median Value
</td>
<td width="249" colspan="4">
Growth
</td>
</tr>
<tr>
<td width="57" valign="top">
10 Years % p.a.
</td>
<td width="63" valign="top">
Year Ending Oct 2011
</td>
<td width="69" valign="top">
Last Quarter
</td>
<td width="59" valign="top">
Last Month
</td>
</tr>
<tr>
<td valign="top">
ACT
</td>
<td valign="top">
$422,000
</td>
<td width="57" valign="top">
9.46%
</td>
<td width="63" valign="top">
2.75%
</td>
<td width="69" valign="top">
-1.46%
</td>
<td width="59" valign="top">
-2.02%
</td>
</tr>
<tr>
<td valign="top">
Adelaide
</td>
<td valign="top">
$312,000
</td>
<td width="57" valign="top">
9.82%
</td>
<td width="63" valign="top">
-1.08%
</td>
<td width="69" valign="top">
1.25%
</td>
<td width="59" valign="top">
0.56%
</td>
</tr>
<tr>
<td valign="top">
SA Country
</td>
<td valign="top">
$231,000
</td>
<td width="57" valign="top">
7.71%
</td>
<td width="63" valign="top">
0.03%
</td>
<td width="69" valign="top">
-1.39%
</td>
<td width="59" valign="top">
1.23%
</td>
</tr>
<tr>
<td valign="top">
Brisbane
</td>
<td valign="top">
$352,000
</td>
<td width="57" valign="top">
9.07%
</td>
<td width="63" valign="top">
-3.48%
</td>
<td width="69" valign="top">
-1.74%
</td>
<td width="59" valign="top">
-0.98%
</td>
</tr>
<tr>
<td valign="top">
QLD Country
</td>
<td valign="top">
$315,000
</td>
<td width="57" valign="top">
8.16%
</td>
<td width="63" valign="top">
-8.30%
</td>
<td width="69" valign="top">
0.78%
</td>
<td width="59" valign="top">
0.19%
</td>
</tr>
<tr>
<td valign="top">
Darwin
</td>
<td valign="top">
$386,500
</td>
<td width="57" valign="top">
10.44%
</td>
<td width="63" valign="top">
-8.38%
</td>
<td width="69" valign="top">
-1.25%
</td>
<td width="59" valign="top">
-0.95%
</td>
</tr>
<tr>
<td valign="top">
Northern Territory
</td>
<td valign="top">
$377,000
</td>
<td width="57" valign="top">
10.52%
</td>
<td width="63" valign="top">
-7.38%
</td>
<td width="69" valign="top">
-1.38%
</td>
<td width="59" valign="top">
-1.22%
</td>
</tr>
<tr>
<td valign="top">
Hobart
</td>
<td valign="top">
$267,000
</td>
<td width="57" valign="top">
9.88%
</td>
<td width="63" valign="top">
-5.94%
</td>
<td width="69" valign="top">
-4.27%
</td>
<td width="59" valign="top">
-0.41%
</td>
</tr>
<tr>
<td valign="top">
TAS Country
</td>
<td valign="top">
$205,500
</td>
<td width="57" valign="top">
10.01%
</td>
<td width="63" valign="top">
-10.16%
</td>
<td width="69" valign="top">
-0.83%
</td>
<td width="59" valign="top">
-1.24%
</td>
</tr>
<tr>
<td valign="top">
Melbourne
</td>
<td valign="top">
$435,500
</td>
<td width="57" valign="top">
7.04%
</td>
<td width="63" valign="top">
-3.31%
</td>
<td width="69" valign="top">
-3.13%
</td>
<td width="59" valign="top">
-1.53%
</td>
</tr>
<tr>
<td valign="top">
VIC Country
</td>
<td valign="top">
$255,500
</td>
<td width="57" valign="top">
8.30%
</td>
<td width="63" valign="top">
1.79%
</td>
<td width="69" valign="top">
-2.15%
</td>
<td width="59" valign="top">
-1.65%
</td>
</tr>
<tr>
<td valign="top">
Perth
</td>
<td valign="top">
$379,000
</td>
<td width="57" valign="top">
9.33%
</td>
<td width="63" valign="top">
-6.65%
</td>
<td width="69" valign="top">
-2.43%
</td>
<td width="59" valign="top">
-0.76%
</td>
</tr>
<tr>
<td valign="top">
WA Country
</td>
<td valign="top">
$297,000
</td>
<td width="57" valign="top">
6.92%
</td>
<td width="63" valign="top">
-5.28%
</td>
<td width="69" valign="top">
-0.17%
</td>
<td width="59" valign="top">
-1.93%
</td>
</tr>
<tr>
<td valign="top">
Sydney
</td>
<td valign="top">
$485,500
</td>
<td width="57" valign="top">
5.05%
</td>
<td width="63" valign="top">
2.77%
</td>
<td width="69" valign="top">
-0.54%
</td>
<td width="59" valign="top">
0.42%
</td>
</tr>
<tr>
<td valign="top">
NSW Country
</td>
<td valign="top">
$302,500
</td>
<td width="57" valign="top">
6.98%
</td>
<td width="63" valign="top">
-0.39%
</td>
<td width="69" valign="top">
0.75%
</td>
<td width="59" valign="top">
0.49%
</td>
</tr>
<tr>
<td valign="top">
Australia
</td>
<td valign="top">
$394,500
</td>
<td width="57" valign="top">
6.62%
</td>
<td width="63" valign="top">
-1.57%
</td>
<td width="69" valign="top">
-0.98%
</td>
<td width="59" valign="top">
-0.52%
</td>
</tr>
</tbody></table>
Source: Residex
 
 
 
 
 
</body></html>

Sydney the only capital city with rising unit prices: Residex

<html><body>
To stimulate the development of much-needed new housing, developers and state governments are offering prospective buyers a range of incentives such as grants, no-deposit home loans and free luxury extras.
For those buyers considering a house-and-land package, these are 10 dates to keep in mind:
November 30, 2011
The last date to take advantage of <a target="_blank" href="https://www.metricon.com.au/melbourne/buying-guide/designer-promotion/35th-birthday?gclid=CJeIsfjbyawCFURV4godb0rsqQ">Metricon’s 35th Birthday sale</a>. The sale includes free extras for its house-and-land packages in metro regions. Extras include luxury carpets, solar heating systems and remote-control garage doors.
December 11, 2011 Up until this date, <a target="_blank" href="https://www.clarendon.com.au/">home builder Clarendon Homes</a> is offering savings of up to $14,000 on a number of its Victorian home designs. It is also offering extras of up to $21,000 on NSW homes as part of its Lifestyle Plus Summer Sale with no set deadline.
December 24, 2011
Christmas Eve is the last day to take advantage of an <a target="_blank" href="https://www.summitnewhomes.com.au/pages/4022/introduction">upgrade offer from WA builder Summit Homes</a>. The builder is offering high ceilings, Essa Stone kitchen benchtops and ducted air-conditioning for an additional $750.
January 1, 2012
Urbanedge Homes is offering a 60 day/60 home “price breaking” special ending on New Year’s Day, in which it has <a target="_blank" href="https://www.urbanedgehomes.com.au/pdf/2011_60daysale.pdf">discounted the price on lots for sale at a number</a> of its Melbourne locations.
January 31, 2012
The last day to take advantage of the Queensland government’s <a target="_blank" href="https://boost.treasury.qld.gov.au/">$10,000 Building Boost Grant</a> applicable to all buyers (including investors) who enter into a contract to build a new house, townhouse or unit.
January 31, 2012
In southeast Queensland, developer Devine is offering <a target="_blank" href="https://www.propertyobserver.com.au/developments/developer-lures-new-home-buyers-with-no-deposit-loans/2011090951488">buyers no-deposit loans for their house-and-land deals up until this date</a>. The offer is aimed at buyers who are eligible for up to $17,000 in government grants including the $7,000 first-home owner grant and the short-term $10,000 building boost grant
May 31, 2012
The deadline for <a target="_blank" href="https://boost.treasury.qld.gov.au/buying-or-building/faqs.php">lodgement of all applications for the Queensland government’s Building Boost Grant</a> with the Queensland Office of State Revenue. However, if your transaction is not completed by that date, you must lodge a notice of intention to apply (preliminary notice) by this date to ensure your later application may be considered.
June 30, 2012
This is last date to take advantage of the Victorian government’s Regional Bonus, which offers $6,500 to first-home buyers who enters into a contract to purchase or build a new home in a regional municipality in Victoria. This is addition to the $13,000 First Home Bonus.  <a target="_blank" href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/DBFEE9B4136A31E1CA2575CB00012C3265A02CC2EEDDD527CA2575A1004420E8">A list of eligible regional muncipilaties is provided here</a>.
July 1, 2012 
From this date the <a target="_blank" href="https://www.revenuesa.sa.gov.au/fhog/index">South Australian First Home Bonus Grant</a> of up to $8,000 will be halved as part of phasing out of the grant. The grant applies to first home buyers who enter into a contract to purchase or build a new home or commenced construction as owner builders.
July 1, 2013 
From this date the South Australian First Home Bonus Grant (FHBG) will end in its entirety.
</body></html>

Buying a house-and-land package: 10 key dates to keep in mind

<html><body>
The Master Builders Association has called for further rate cuts following the release of ABS figures showing total seasonally adjusted residential building work done fell by 1.1% to $11.4 billion in the September 2011 quarter.
The figure would have been worse were it not for the value of major renovations work done growing by 0.9% over the September quarter to be up by 6.3% on the same quarter one year earlier.
Excluding renovations, new residential building work done fell by 1.5% to be down by 5.2% on the September 2010 quarter.
The biggest drop in new residential building work done occurred in South Australia, where the value of work fell by 15.5%, followed by Tasmania (12.1%), ACT (8.6%) and WA (6.3%).
New residential work done rose by 5.5% in New South Wales, 3.3% in Victoria and just 0.2% in Queensland, despite the $10,000 on offer as part of the state government’s building boost program.
MBA chief economist Peter Jones says the figures “confirm evidence from Master Builders’ latest survey showing dramatic turnaround in builder sentiment as commercial and residential building-related stimulus spending programs come to an end”.
“They also confirm that MBA information that builders are suffering a downturn in sales and enquiries.”
“The tough business environment is not being helped by volatility in the world economy and investor caution,” he says.
“A negative growth trend is firmly established in both the residential and commercial or non-residential building sectors, with no indication that conditions will turn around without policy change.”
Outside of residential building, construction work done surged by 12.5% for the quarter, to be 18.1% up from a year ago (inflation-adjusted).  This was the strongest quarterly construction growth rate since the commencement of this series in 1986.
Jones attributed this surge in construction activity to mega-mining projects ramping up, particularly in Western Australia during the September quarter and in Queensland the previous quarter.
“A sectoral divide has opened up in the building and construction industry, with booming engineering construction fed by the mining boom contrasting with a weak building sector caught in the slow lane of a post GFC economy struggling to transition to a private sector led recovery.”
“The 1.5% decline in new residential work done reflects a 2.6% decline in detached housing which was partially offset by a 3.4% increase in ‘other dwellings’,” noted HIA acting chief economist Andrew Harvey. 
“Today’s result suggests that new dwelling investment will detract from GDP growth in the September quarter national accounts, due for release in two weeks’ time,” he says. 
Westpac notes the two-speed nature of the economy, with construction work in the third quarter well in excess of expectations, private residential building activity flat, and public building and public infrastructure work declining. 
“For the RBA, from a policy perspective, the patchy conditions in the broader economy would remain a concern,” the bank says.
 
</body></html>

Home building still in the doldrums, but renos picking up: ABS

<html><body>
Stockland is continuing its exit of the apartment development market and is focusing its efforts on greenfield house-and-land projects, according to residential CEO Mark Hunter.
Hunter says that contrary to what may be believed about apartments, detached houses will remain the “predominate form of housing supply for many years to come”.
This trend he says is further evidenced in the fact that among the established dwelling stock, 79% of dwellings are separate houses.
“It’s the largest market segment. You can stage your capital investments and you can adjust your product mix according to demand to achieve higher returns,” Hunter says.
“Developing residential housing on vacant land is a lower risk than building houses or apartments.”
During a presentation to investors in Queensland, Hunter showed that greenfields are key to meeting future urban housing needs, accounting for at least 50% of total supply in Perth, southeast Queensland and Sydney and 47% of supply in Melbourne up until 2030.
<img src="/images/stories/stocklandnovem23.gif">
Stockland has forecast the demand for vacant land and project home sales as 85,000 out of a total annual demand of 160,000.
Besides the demographic reasons, Hunter says there are a limited number of available sites for apartment projects.
Stockland has identified 26 corridors where demand for new housing remains high and meets its criteria for development, including strong population and job growth prospects, a commitment to infrastructure investment and a lack of competition that could lead to a net oversupply.
“A corridor must tick all the boxes, otherwise we won’t invest in that corridor,” he says.
For the 2012 financial year, Stockland’s new projects comprise two in Western Australia, two Queensland, one in NSW and two in Victoria.
Western Australia and Queensland will be the focus for the 2013 financial year.
 
 
</body></html>

Stockland continues to head to affordable greenfields as it exits apartment market

<html><body>
Investment bank JP Morgan has joined UBS and Goldman Sachs by forecasting the Reserve Bank to cut interest rates to 4.25% when it next meets on December 6.
The bank has changed its mind due to the continuing turmoil in Europe, the Australian government’s tight fiscal policy and the strong Australian dollar.
JP Morgan economist Stephen Walters says “escalating global concerns” are the key reason the central bank will continue with its easing policy.
The bank expects a further 25-basis-point cut in the first quarter of 2012, which would take the cash rate to 3.75% for the first time since February 2010.
According to Walters, the forecast cut will be to “mitigate the harm Europe is doing to the economy”.
Both Westpac and ANZ are forecasting interest rates will remain unchanged in December, with the next rate cut tipped for February, but both have said global factors may force the RBA’s hand.
“Provided we don’t see a sharp deterioration in global conditions, February seems the most likely window for another 25bps cut in the cash rate to 4.25%,” ANZ said last week.
ANZ chief economist Warren Hogan says if there continue to be “bad days in the global markets”, then there would be a case for an “insurance cut by the RBA in December”.
The latest six-monthly report by the World Bank on East Asia said the major threat to sustaining strong growth in the region was the continuation of financial turmoil in Europe.
 
 
</body></html>

JP Morgan and other investment banks tip December rate cut

<html><body>
??Sydney office landlords look well placed for an increase in rental returns over the coming months, with the city entering an accelerating rental growth phase, according to a third-quarter global office market outlook report from CBRE.

Sydney’s strong growth prospects are in contrast to other major Asia Pacific prime office locations such as Hong Kong, Singapore and Shanghai, where rental growth is slowing.
Rental growth is also expected to slow down in the London and New York, according to CBRE.
<img src="/images/stories/cbrenov23.gif">
The report also notes that leasing deals in Melbourne (alongside Taipei, Kuala Lumpur and India) were modest relative to their market size in the third quarter of 2011.
Sydney’s strong position is in contrast to only modest improvement in global office market sentiment, with the CBRE Global Office Rent Index gaining just 0.9% in the third quarter of 2011 due to occupiers remaining “more cautious about space commitments”.
The 0.9% gain is the lowest recorded since the first quarter of recovery – the second quarter of 2010 – and 32 basis points below the 1.2% average quarterly gain recorded since the market’s trough.
The index was boosted by the Asia Pacific region, which recorded a 12.9% year-on-year increase in the third quarter.
However, for the third quarter, rents increased by a modest 2.2%, indicating that rent increases have slowed in the region.
Despite the global rental growth slowdown in the third quarter, 15 of the CBRE Global Office Rent Cycle’s 18 prime markets passed their respective troughs (including Sydney), while three markets experienced rental declines.
The three markets to experience rent declines were Tokyo, Los and Angeles and Madrid, the same three markets that experienced rent declines in the second quarter of 2011.
According to CBRE, global construction completions have abated in 2010 and 2011, helping to drive office demand and slowly absorb some of the vacant space in the market.
However, net absorption remains well below pre-recession levels, both globally and in the major regions. Asia is the exception, where office demand and absorption have been stronger than their pre-recession levels.
The report notes that while economic growth has moderated in the Asia Pacific, the employment rate, consumer confidence and economic remained strong in the third quarter.
 
</body></html>

Sydney office rents poised for rapid growth: CBRE

<html><body>
Property fund manager Cromwell has paid $186 million to acquire Leighton Properties’ HQ North Tower in Brisbane’s booming Fortitude Valley.
The sale price set a new record for the largest office transaction for a Brisbane city fringe development in Queensland history.
The sale was negotiated by Bruce Baker, Richard Butler and Bill Tucker from CBRE.
HQ North Tower contains 28,000 square metres of office space as well as ground-floor retail and forms part of the HQ precinct, a new commercial zone comprising 44,000 square metres of commercial office and retail space, restaurants, cafés, wine bars and a public plaza.
Tenants include AECOM and Bechtel.
The south tower was old last year to Swiss-based fund manager AFIAA for $94 million.
HQ was built at a cost of $177 million and designed by architects Bligh Voiler Nield.
Leighton Properties managing director Mark Gray says the capital from the sale will be redeployed in further opportunities both in the residential and commercial sectors.
“This sale reflects the underlying strength of the Valley office market and the quality of the tower’s award-winning, sustainable design.
“The sale further reinforces Fortitude Valley as the premier location for investment in Brisbane outside of the CBD,” says Baker. “It also demonstrates the value of high-quality assets with first-rate sustainability measures.”
In addition to the 6 Star Green Star – Office Design and Office As Built v2 ratings, the development has also recently received several national awards including Urban Taskforce of  Australia’s National Development of the Year 2011; Brisbane Lord Mayor’s Sustainability in Business Award 2011; and UDIA QLD Boral Awards for Excellence in Large Retail/Commercial.
The South Tower is the headquarters for Leighton Properties and Leighton Contractors.
Cromwell also purchased Leighton Properties’ proposed new office tower in the Ipswich CBD earlier this month for $93 million.
 
 
</body></html>

Cromwell pays record $186 million for Fortitude Valley office tower

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

Joel Robinson

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

Perth development giant Finbar Group has completed its acquisition of the prominent 236 Railway Parade site in West Leederville, a year after first flagging plans for the transit-oriented development that will become its next major apartment project in Perth's inner west.

The ASX-listed apartment developer has secured the 4,997 sqm mixed use-zoned landholding opposite West Leederville Train Station for around $15 million, paving the way for the proposed Rosslyn Quarter development. The project is expected to deliver <a href="https://www.apartments.com.au/new-apartments/236-railway-parade-west-leederville-wa-6007">around 240 apartments across two towers</a>, alongside ground-floor commercial space.

The acquisition effectively concludes a process that began in mid-2025 when Finbar announced it had entered into a contract to purchase the site, subject to development approval and the finalisation of planning settings under the West Leederville Precinct Structure Plan. At that time, the company outlined plans for a pair of 18-storey towers with an estimated end value of around $200 million.

The site sits within the emerging Rosslyn Quarter precinct, approximately two kilometres from the Perth CBD and directly opposite the West Leederville Train Station. The location also places future residents within walking distance of the West Leederville Shopping Centre, Leederville's hospitality strip, and the neighbouring Subiaco activity centre.

Finbar CEO Ronald Chan said the acquisition builds on the developer's previous experience in the suburb, where it delivered the Motive Apartments project in 2017.

"We have previously enjoyed great success in developing in the West Leederville area given its excellent existing amenity and close proximity to the CBD, Leederville, Subiaco, and the West Leederville train station," Chan said.

He said the scale of the site would allow Finbar to deliver a well-located apartment project while strengthening its long-term development pipeline.

"The substantial scale of this site, with proposed potential for two eighteen-storey towers, will allow the Company to obtain scale benefits which will underpin the delivery of a medium-cost, well-located project," Chan said. "Importantly, this acquisition diversifies and strengthens our long-term development pipeline across metropolitan Perth, enabling us to time our product delivery strategically in line with market conditions."

According to Sterling Property, which brokered the transaction, the site was one of the most significant development opportunities to come to market in Perth's western suburbs in recent years.

Sterling Property Managing Director Brian Neo said opportunities of this scale in established inner-city locations remain tightly held.

"Sites of this scale and calibre, directly opposite a train station and within two kilometres of the CBD, are rarely offered to the market. When they are, they attract serious capital," Neo said.

The acquisition comes as Perth's apartment market continues to contend with limited development-ready sites in established suburbs, particularly those benefiting from both existing transport infrastructure and supportive planning frameworks.

With the West Leederville Precinct Structure Plan now adopted, Finbar can move forward with design development and the development approval process for what is expected to become one of the largest new apartment projects proposed in the suburb.

Finbar completes West Leederville site acquisition for Rosslyn Quarter project

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News