<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

<p>The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.</p>

<p>The proposal will now proceed to a full council vote on June 2.</p>

<p>The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;</p>

<p>The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;</p>

<p><img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" /></p>

<p>The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;</p>

<p>Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.</p>

<p>“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.</p>

<p>“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.</p>

<p><img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" /></p>

<p>“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.</p>

<p>“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.</p>

<p>“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”</p>

<p><img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" /></p>

<p>Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;</p>

<p>Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.</p>

<p>“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.</p>

<p>“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.</p>

<p>“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”</p>


$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

<p>Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.</p>

<p>John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.</p>

<p>The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.</p>

<p>In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.</p>

<p><img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.</p>

<p>DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.</p>

<p>“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.</p>

<p>The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.</p>

<p>“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.</p>

<p>At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.</p>

<p>The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.</p>


First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.</p>

<p>The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).</p>

<p>Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.</p>

<p>Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.</p>

<p>The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.</p>

<p>There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

<p>While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

<p>The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.</p>

<p>While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.</p>

<p>It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.</em></p>


Every First Home Owner Grant for new property by state

<p>In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.</p>

<h2>What is NatHERS?</h2>

<p>NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.</p>

<h2>How NatHERS Ratings Work</h2>

<p>NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.</p>

<p>The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;</p>

<p>Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.</p>

<p><strong>Cost Savings:</strong> Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.</p>

<p><strong>Environmental Impact:</strong> Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.</p>

<p><strong>Improved Comfort: </strong>Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.</p>

<p><strong>Market Value and Desirability:</strong> Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.</p>

<p><strong>Compliance with Building Codes:</strong> NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.</p>


The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.</p>

<h3>Convenience and accessibility</h3>

<p>Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.</p>

<h3>Vibrant lifestyle and community</h3>

<p>One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.</p>

<h3>Enhanced security and maintenance</h3>

<p>Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.</p>

<h3>Live-work-play balance</h3>

<p>One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.</p>

<p>The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe></p>

<h2>Who pays Stamp Duty?</h2>

<p>In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.</p>

<p>You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

<p style="line-height:1.38">Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.</p>


Ellen Walker

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

<p>Roberts Co has entered a new phase of growth following its acquisition by Arada, one of the world’s fastest-growing property developers in Australia.</p>

<p>The acquisition is supported by a $50 million capital injection into Roberts Co’s Australian balance sheet, consisting of the previously announced $25 million recapitalisation and an additional $25 million in new funding from Arada.</p>

<p>This investment strengthens Roberts Co’s financial position, stabilises operations, and provides the foundation for strategic expansion beyond its New South Wales base, with a focus on new opportunities in Queensland, including the Brisbane and Gold Coast regions.</p>

<p>With Arada’s international resources and financial backing, Roberts Co will broaden its portfolio across residential, commercial, and infrastructure sectors, reinforcing its strong market position in New South Wales and setting itself to capture growth in one of Australia’s most dynamic construction markets.</p>

<p>Ahmed Alkhoshaibi, Group CEO of Arada, said Roberts Co has a proud Australian heritage, an outstanding delivery record, and a strong reputation for collaboration with clients and partners.</p>

<p>"By combining this expertise with Arada’s global scale and financial capacity, we are creating a platform for sustained growth in the Australian market,"&nbsp;Alkhoshaibi said.</p>

<p>“Our $50 million capital injection, including new funds from Arada, underlines our commitment to both stabilise and expand Roberts Co’s operations, particularly into the fast-growing Queensland market. We see significant potential in South-East Queensland’s pipeline and are confident Roberts Co is well placed to deliver lasting value for clients and communities.”</p>

<p>George Kostas, CEO of Roberts Co, said Queensland, and particularly South-East Queensland, is one of the most active and opportunity-rich regions in Australia right now.</p>

<p>"The lead-up to the Brisbane 2032 Olympic Games will bring unprecedented investment across housing, transport, and infrastructure. Roberts Co is eager to play a major role in that transformation and secure a meaningful share of this fast-growing market.”</p>


Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

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<p>Melbourne-based property group and fund manager OpenCorp has acquired new sites to host its latest crowdfunded house and land developments.</p>
<p>Located in Greenvale, 20 kilometres north of the Melbourne CBD, the 168-lot subdivision site is positioned close to the company’s sold out Umbra development. It will be the 23rd project OpenCorp has funded through a property development fund.</p>
<p>Currently under construction, Umbra already is projecting good returns for investors. OpenCorp is currently anticipating a total return of 110% against the forecast of 58%. Its 41% internal rate of return sits against the forecast of 30%.</p>
<p>Like Umbra, investors in the Greenvale development would subscribe to an OpenCorp managed property development fund to participate as equity partners in the new $46 million project.</p>
<p>Based on the success of Umbra, 70% of the $11.4 million of the equity being raised for the development has been committed by one major Melbourne investor.</p>
<p>“They participated in the first Greenvale development and were eager to invest in the subsequent similar development,” says OpenCorp director Allister Lewison (pictured above centre).</p>
<p>OpenCorp have also closed its capital raising offer with the $3.5 million fund being considerably over-subscribed.</p>
<p>The new development fund is forecast to provide investors a total return of over 54%, or an internal rate of return close to 23%.</p>
<p>“Our development funds provide a great way for family offices, high net worth clients and retail investors to invest in developments when they don’t have the time, money or skills to do so themselves,” Lewison says.</p>
<p>“Our 10 year track record combined with average returns of over 20% per annum are proving very popular with small and large investors, given the returns from other asset classes.”</p>
<p>The new Greenvale development is expected to attract first homebuyers seeking a site to build a family home at an affordable price point in anticipation of the City of Hume’s continued rapid growth.</p>
<p>“The Melbourne market continues to remain very robust for quality developments in the right catchments,” Lewison says.</p>
<p>“The sub markets in which we operate are very much focused on strong demand and supply fundamentals.”</p>
<p>Greenvale is located a 30 minute drive from the Melbourne CBD and 10 minutes from Tullamarine Airport. </p>
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j.ballantyne1990-6AQqhLzZaK

Crowdfunding property developer OpenCorp acquires second Greenvale site

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<p><span>The six-hectare NSW Southern Tablelands property Kiloren, with intact Edna Walling gardens, has finally sold.</span></p>
<p>It was in 1982 gardening author Jennie Churchill and her husband, vet Rob Churchill, took over the Crookwell garden with the <a href="https://www.kiloren.com" target="_blank">best named gardener in the land</a>.</p>
<p><span>There were four parties interested at the end with the property sold to a couple from Canberra.</span></p>
<p><span>Jennie sayes she is confident they will care for the garden beautifully. </span></p>
<p><span>The garden was installed by Walling in 1951, surrounding the three bedroom John Mansfield designed house, which was built for the Broadbent family.</span></p>
<p><span>Walling was familiar with the climate given her nearby Markdale, Binda commission for the Ashton family in the late 1940's.</span></p>
<p><span>The classic Walling features include basalt walls and pathways softened by relaxed planting.</span></p>
<p><span>She described the garden as one of her less formal designs and said she brought plants from her own nurse at Bickleigh Vale near Melbourne, where she has a cottage within the grounds.</span></p>
<p><span>Jennie and her husband will be moving back to their Potts Point base and continue with plans for a Tasmanian retreat.</span></p>
<p><span>Around $980,000 was being sought. </span></p>
<p><em>This article was first published in the Saturday Daily Telegraph.</em></p>
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jonathanchancellor-7SQnKwU6yx

Edna Walling garden at Southern Tablelands finally sold

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<p><span>Melbourne's first interactive playground Harmony Garden has been revealed at Point Park on Yarra's edge, just moments from Melbourne's CBD.</span></p>
<p><span>The interactive playground, created by real estate investment group Mirvac, allows children to compose music using sculptural bells and gongs which are integrated into a playground environment.</span></p>
<p><span>Constructed from timber, the large wall features 16 stainless steel gongs, eight anodised aluminium harmonic bells and three cube drumming seats that combine to create an interactive musical instrument spanning 11 metres.</span></p>
<p><span>The innovative playground was designed by co-creator of Birrarung Marr's Federation Bells Neil McLachlan, artist and sculptor Emilia Storm and landscape designer Simon Ellis.</span></p>
<p><span>Dotted throughout the landscaped park are 11 multi-sensory interactive bell sculptures inspired by indigenous coastal plantings and situated within native gardens.</span></p>
<p><span>Children use a specially-engineered colourful soft plastic stamen to play the bells.</span></p>
<p><span>Mirvac’s Head of Residential, John Carfi, said the Harmony Garden will be a unique and fun way to bring children and adults together.</span></p>
<p><span>Federation Bells co-creator, Neil McLachlan, also an Associate Professor at the University of Melbourne School of Psychological Sciences, said the park would encourage children to play cooperatively.</span></p>
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jrobinson-rf4aSBido9

Mirvac unveils Melbourne's first interactive musical playground at Yarra's edge

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<div>
<p>The NSW Government is set to sell its Land and Property Information (LPI) unit in 2016.</p>
<p>NSW has JPMorgan undertaking a scoping study on the sale, according to the Australian Financial Review column, Street Talk. </p>
<p>LPI provides all mapping, titles and other related land information services for NSW.</p>
<p>While the sale of the state's LPI would be the first sale of its kind in Australia, Victoria and South Australia are also consider selling their own land titles offices. </p>
</div>
<div>
<p>The AFR suggest that the NSW LPI is likely to be worth $500  million.</p>
<p>In 2014-15 some 900,000 plus dealings were lodged for registration, marking a 6.7 per cent increase on already strong volumes in the previous financial year.</p>
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jchancellor-FAypfDUnLy

NSW LPI to be sold with $500 million hopes

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<p><span style="line-height: 1.3em;">Property Observer has sought sales and listings over recent months highlighting the beauty of the jacaranda.</span></p>
<p><span style="line-height: 1.3em;">Here's our latest finds.</span></p>
<p><span>1. <span><a href="https://www.realestateview.com.au/Real-Estate/jacaranda-estate-lot-48-45-lancashire-drive-mudgeeraba/Property-Details-buy-residential-9785743" target="_blank">Lot 48, 45 Lancashire Drive, Mudgeeraba, QLD</a> (below)</span></span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/700_jac1.jpg" alt="" width="519" height="315"> </p>
<p><span>The property in Ascot was a no brainer for top spot.</span></p>
<p><span>Simply entitled 'Jacaranda', the gated estate compromises of land and house space, with this townhouse the last of the lot.</span></p>
<p><span>The four bedroom, two bedroom house is on the market for just over $540,000.</span></p>
<p><span>The estate features a jacaranda at every turn.</span></p>
<p><span>2. <span><a href="https://www.realestateview.com.au/Real-Estate/24-roger-street-muswellbrook/Property-Details-buy-residential-9760204" target="_blank">24 Roger Street, Muswellbrook, NSW</a> (below)</span></span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac2.jpg" alt="" width="552" height="335" style="line-height: 1.3em;"></p>
<p><span>The 898 sqm property is nestled behind a lavish jacaranda tree.</span></p>
<p><span>The three bedroom, one bathroom home is on the market for $320,000</span></p>
<p><span>3. <span><a href="https://www.realestateview.com.au/Real-Estate/6-pagottos-ridge-road-north-lismore/Property-Details-buy-residential-9759488" target="_blank">6 Pagattos Ridge Road, North Lismore, NSW</a> (below)</span></span><span style="line-height: 1.3em;"> </span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac4.jpg" alt="" width="486" height="295"></p>
<p><span>The three bedroom, one bathroom property includes 2.79 hectares of land.</span></p>
<p><span>The back garden of the property features an outside decking and views of the blooming jacaranda's</span></p>
<p><span>4. <span><a href="https://www.realestateview.com.au/Real-Estate/9-orville-street-malvern-east/Property-Details-buy-residential-8520422" target="_blank">9 Orville Street, Malvern East, VIC</a> (below)</span></span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac5.jpg" alt="" width="413" height="251"></p>
<p><span style="line-height: 1.3em;">Another property that sits behind an imposing jacaranda. </span></p>
<p><span>The property features two bedrooms and one bathroom and is currently under offer, however was previously on the market for $1.69 million.</span></p>
<p><span>5. <span><a href="https://www.realestateview.com.au/Real-Estate/10-prosper-parade-glen-iris/Property-Details-sold-residential-9381214" target="_blank">10 Prosper Parade, Glen Iris, VIC</a> (below)</span></span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac6.jpg" alt="" width="504" height="306"></p>
<p><span>The property has been architecturally designed to make the most of the lavish gardens surrounding the home.</span></p>
<p><span>The outdoor decking is met by vibrant jacaranda's in spring. </span></p>
<p><span>The property sold at auction in September with the price undisclosed.</span></p>
<p><span>6. <span><a href="https://www.realestateview.com.au/Real-Estate/4-6-gardenvale-drive-coes-creek/Property-Details-sold-residential-8556534" target="_blank">4-6 Gardenvale Drive, Coes Creek, QLD</a> (below)</span></span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/11/18/jac7.jpg" alt="" width="525" height="319"></p>
<p><span>Mature jacaranda tress surround the 1754 sqm block and keep privacy to a maximum.</span></p>
<p><span>The three bedroom property was sold for $450,000 in October. </span></p>
<p><span style="line-height: 1.3em;"> </span></p>
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Jacaranda's ablaze in property offerings

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<p><span style="line-height: 1.3em;">All 46 lots offered in the final release of Mirvac's Schofields master-planned development were sold out on the weekend.</span></p>
<p><span>More than 700 people registered interest in the blocks, which started at $399,900 for a 324-square-metre block.</span></p>
<p><span>Some were offered as house-and-land packages starting at $670,500 in the <a href="https://theavenue.mirvac.com/" target="_blank"><span>393-lot development</span></a>.</span></p>
<p><span>Six new home designs were launched at <a href="https://theavenue.mirvac.com/about/overview/" target="_blank"><span>The Avenue </span></a>in late June 2015.</span></p>
<p><span>Mirvac's head of residential, John Carfi, said The Avenue was set within the government's north-west growth sector which has benefited from investment in infrastructure including the Schofields train station, new schools and roads.</span></p>
<p><span>"The Avenue blends the peace of rural tranquility with the convenience and rich amenity of an established urban neighbourhood," the marketing suggested. </span></p>
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 Sellout in Schofields on The Avenue

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<h3 class="post-title entry-title"><strong style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.3em;"><span style="text-decoration: underline;">Consumption and deleveraging</span></strong></h3>
<div id="post-body-7004125540055073165" class="post-body entry-content">
<div> </div>
<div>An interesting speech from Dr. Christopher Kent, Assistant Governor of the Reserve Bank of Australia (RBA) in Canberra.</div>
<div> </div>
<div>The speech noted that household consumption has responded to low interest rates since 2013, but in a less strong manner than might have been expected.<br><br>Let's take a look at three of the main observations raised...<br><br><strong><span style="text-decoration: underline;">Part 1 - The balance sheet and wealth channels ("aka. Equity withdrawal, mate")</span></strong>
</div>
<div> </div>
<div>One of the drivers for a less strong consumption response through this cycle has been the diminished role of housing equity withdrawal.</div>
<div> </div>
<div>In the first half of the 2000s households withdrew significant equity to finance their consumption, but this no longer appears to be occurring on such a widespread basis, according to the Reserve Bank's data.</div>
<div> </div>
<div>In fact in recent years household net spending on assets has exceeding borrowing.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-B1H_R0K_1UU/VX692piqWgI/AAAAAAAAWIA/fZS-HIftYAY/s400/RBA1.jpg" width="365" height="400"></div>
<div class="separator"> </div>
<div class="separator">The evidence here suggests that the so-termed "wealth channel" - rising household wealth boosting consumption - has not been as effective to date as in cycles past.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Part 2 - The cash-flow channel - household balance sheets and buffers</span></strong></div>
<div class="separator"> </div>
<div class="separator">Of course, it is well known that Australian households are net borrowers on average. </div>
<div class="separator"> </div>
<div class="separator">However, the RBA's figures also show that while households' interest earning assets (such as bank deposits) have risen strongly as a share of disposable income over recent years - even exclusive of superannuation - interest bearing liabilities have not.</div>
<div class="separator"> </div>
<div class="separator">In fact, household liabilities as a share of household disposable incomes have been steady for some years now.</div>
<div class="separator"> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-ZUlS798T_sM/VX6_I-lCS6I/AAAAAAAAWIo/JSStEaFE5C0/s400/RBA6.jpg" width="365" height="400"></div>
<div class="separator"> </div>
<div class="separator">How so? This is thanks in part to record low borrowing rates, with aggregate mortgage buffers apparently soaring to record levels and many households evidently electing to pay down their debt faster, known as "deleveraging".</div>
<div class="separator"> </div>
<div class="separator">I believe that this is in part due a mechanism whereby mortgage repayments are held steady even in the event of downward adjustments to interest rates on variable rate products, something which is perhaps unique to Australia.</div>
<div class="separator"> </div>
<div class="separator">Average mortgage prepayments are rapidly approaching an incredible 30 months, while as a share of housing loans outstanding aggregate mortgage buffers have soared to well over 15 per cent, which is remarkable if true.</div>
<div class="separator"> </div>
<div class="separator">In short, through this interest rate easing cycle more households appear to have moved further ahead on their mortgage repayments.</div>
<div> </div>
<div class="separator"><img src="https://3.bp.blogspot.com/-_GJEDSZ7SqE/VX692rQKzvI/AAAAAAAAWIE/9XIu_L5yvgE/s400/RBA2.jpg" width="400" height="336"></div>
<br><div class="separator">It is often said that Australians are holding "record high" household debt, but the Reserve Bank charts claim that this fails to acknowledge the increasing role of offset accounts and investor credit.</div>
<div> </div>
<div>When offsets and credit are included in the statistics household credit as a percentage of household income has actually declined by 4 percentage points over the past half decade, noted Dr. Kent.</div>
<br><div class="separator"><img src="https://1.bp.blogspot.com/-ylZP5atiPzc/VX693VMvFDI/AAAAAAAAWIM/zo96JKlK40g/s400/RBA4.jpg" width="372" height="400"></div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Part 3 - The supply side</span></strong></div>
<div class="separator"> </div>
<div class="separator">As is typical, dwelling construction, being the most interest rate sensitive sector of the Australian economy, is responding strongly to easier monetary policy, with building approvals now at their highest level on record and dwelling investment up by 9 per cent over the past year.</div>
<div class="separator"> </div>
<div class="separator">This will likely put downward pressure on apartment rents and prices in some regions.</div>
<div class="separator"> </div>
<div> </div>
<div>However, one eminent challenge is that the supply of greenfield land in the Sydney region (inclusive of Newcastle and Wollongong) in particular, and also in south-east Queensland (Brisbane, Gold Coast, Sunshine Coast), has plummeted to extremely low levels, which is putting significant upwards pressure on land values.</div>
<div> </div>
<div>In Sydney the stock of suitable sites for apartments has been depleted too in recent years.<br><br>With a dearth of suitable sites to build either houses or apartments, the Reserve notes the risk of a material spike in dwelling prices caused by the inadequate supply.</div>
<div class="separator"><img src="https://4.bp.blogspot.com/-4HOM_XSDTV0/VX692otsOCI/AAAAAAAAWII/ktRH_sGI00Y/s400/RBA3.jpg" width="386" height="400"></div>
<div class="separator"> </div>
<div class="separator"><span>A parallel challenge is that with the residential construction industry pushing towards full capacity, this is likely to result in inflation of land and construction work, potentially "<em>pushing up the prices of new and existing dwellings, </em><span><em>via increases in land prices, construction wages, developers' margins or some combination of all three</em>"</span>.</span></div>
<div class="separator"> </div>
<div class="separator">While labour shortages have not bitten particularly hard to date despite some skills shortages arising, rising demand for building materials has already pushed the rate of inflation for new dwelling costs fully two points above its average for the inflation-targeting period (i.e. since 1993).</div>
<div class="separator"> </div>
<div class="separator">This is somewhat agitating since the residential construction boom is still in its infancy, relatively speaking.</div>
<div class="separator"> </div>
<div>Furthermore, alterations and additions (i.e. major renovations work) could easily pick up further, further accentuating materials shortages.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">Dr. Kent's speech concluded that consumption has picked up in Australia since 2013, and monetary policy is working as it should, to some extent.</div>
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<div class="separator">However, many households are also electing to pay down their debts faster, and this is having some dampening effect on the strength of the consumption response experienced to date.</div>
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<em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br><p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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RBA suggests squeezed land supply could spike prices: Pete Wargent

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<p><span>GUEST OBSERVER</span></p>
<p><span>Inspired by Robert Shiller’s best seller, <em>Irrational Exuberance</em>, I developed the Jamie Durie Index (JDI) over a decade ago, which represented the number of times the name ‘Jamie Durie’ appeared in newspapers and magazines.  Shiller’s book suggested that the media typically play an important role in propagating asset price booms.  </span></p>
<p><span>Jamie Durie -host of top rating TV show, <em>The Block</em> - was the poster boy of Australia’s property market culture and the JDI was designed to measure the media attention and chatter surrounding property.  As it happened, the JDI correlated closely with the cycle in house prices, with both peaking in 2003.</span></p>
<p><span>At the time, Australian property was booming, stories of house price gains achieved in no time with an assist from plenty of debt dominated dinner party conversation, and Australia was rapidly becoming a nation of home renovators, inspired by Jamie Durie and shows like <em>The Block</em>.</span></p>
<p><span>Fast forward to 2015 and <em>The Block</em> has come a long way, having out-lived its original host.  In its initial form, it survived only two seasons.  After a six year absence, the Nine Network re-introduced the show in 2010, which has been hosted by Scott Cam ever since.  Despite the 20% lift in average home values in the past three years, <em>The Block</em> and other home renovation shows – including House Rules and Reno Rumble - haven’t hit the heights of a decade earlier.</span></p>
<p><span><strong>The rise and rise of home renovation shows...</strong></span></p>
<p><span>The recently appointed Treasury Secretary, Mr John Fraser, has weighed in on the debate about whether there is a bubble in property prices, suggesting that the plethora of home renovation television shows represents compelling evidence of over-investment in housing.  While there might be signs of a property market culture re-emerging, we need to tread carefully about drawing strong inferences about a property bubble for a number of reasons.</span></p>
<p><strong><span>...but little sign of a speculative frenzy</span></strong></p>
<p><span>First, a shift in consumer attitudes and tastes has contributed to the proliferation of home renovation shows.  For instance, the growing popularity of cooking shows, including Master Chef and My Kitchen Rules, together with the emergence of the celebrity chef, is largely due to the renewed interest in food and home cooking and a waning interest in processed foods.  Is anyone suggesting there is a bubble in home cooked food?</span></p>
<p><span>Second, the aggregate data doesn’t point to over-investment in housing, just yet.  Private sector dwelling investment has lifted to a little above 5% of GDP, but this remains well below prior peaks of around 6½% (see chart).</span></p>
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<p><span>Third, despite the growing interest in home renovation shows, this has not yet translated into a lift in the share of their budgets that consumers devote to home renovations.  That much is obvious from the fact that the value of renovations declined to 1.8% of GDP in 2014, well below the peak of 2.7% of a decade ago and its lowest level in more than twenty years (see chart).  To put this in context, had the value of renovations accounted for 2.7% of GDP in 2014, this would have translated into a dollar value of $43 billion, well above the actual spending on renovations of $30 billion, representing a shortfall of over $10 billion.</span></p>
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<p><span>The academic literature confirms that the level of home improvement activity provides a valuable insight into home owners' expectations of future price growth.  In a paper published in the Journal of Financial Economics, Harrison Hong and other researchers from Princeton show that in the United States, homeowners who are optimistic about future house prices are more likely to speculate on future price growth by renovating.</span></p>
<p><span>Fourth, increased liquidity, a pre-requisite for speculative bubbles according to Shiller, has been absent to date.  In fact, the annualised turnover rate of the stock of housing has declined to 4%, around half its level from a decade ago (see chart).  Normally, turnover rises with house prices because greater home equity encourages home-owners to trade up to more expensive homes and vendors who observe higher turnover infer that demand has picked up and lift their reserves.</span></p>
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<p><span>The RBA speculates that various factors underpin muted housing turnover: the unusually low participation of owner-occupiers in housing market transactions and growing evidence that homeowners have become more reluctant to borrow against increases in net wealth to trade up homes.  Hardly ingredients of a property bubble.</span></p>
<p><strong><span>Tipping point for a bubble has not been reached...yet</span></strong></p>
<p><span>Despite the proliferation of home renovation shows on Australian television, signs of a re-emerging property market culture, and strong upswing in Sydney and Melbourne property prices, the modest level of renovation activity, low turnover in the housing stock and the fact that private sector dwelling investment is in line with historical norms suggests that the property market does not yet share the speculative elements that prevailed during the boom of the early 2000s.</span></p>
<p><span>Back then people renovated to cash in on the soaring equity in their home so they could trade up to bigger places.  Now, the reality has set in that the transaction costs of moving are too high and households are more realistic about their expectations of capital growth.  If there does exist a tipping point for the emerging property market culture to morph into a speculative frenzy of over-investment, I believe that we are not there yet.</span></p>
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<p>Founder of Evidente, <a href="https://www.evidente.com.au" target="_blank">Salvatore (Sam) Ferraro</a>, is a top rated quantitative analyst and has over 17 years of experience in financial markets, with investment banks, Goldman Sachs and Merrill Lynch, providing advice on best practice to portfolio managers and as a senior portfolio manager for a boutique funds management firm, covering banks, insurers, utilities and infrastructure stocks. </p>
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Are the Jamie Durie devotees really to blame for the 2015 over-investment property boom?

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<p>The Channel 7 Tasmanian House Rules contestants,<span style="line-height: 1.3em;"> Cassie and Matt have a $248,000 mortgage, the second smallest so far of the revealed prizes.</span></p>
<p>Cassie and Matt bought their affordable, quirky 1960s home, which they’ve come to adore.</p>
<p>Nothing had been done since it was built in the <span>Geilston Bay suburb</span>.</p>
<p><span>They are in the third series of the Channel 7 reno show, in which six teams from around Australia have their homes renovated room by room by opposing teams.</span></p>
<p><span>It has often won the night in ratings since it debuted last month.</span></p>
<p><img src="https://s.yimg.com/iu/api/res/1.2/Hm.Egawcln49nqn3ChKNUg--/YXBwaWQ9eXZpZGVvO2ZpPWZpbGw7dz04Njg7cT05MDtuPTE7cm90YXRlPWF1dG8-/https://s.yimg.com/ea/img/-/150529/tas_house_final_1amfl5v-1amfl65.jpg"></p>
<p>W<span>ith Tassie’s cold temperatures, the couple would love for their house to be insulated.</span></p>
<p>The pair met 10 years ago, but it wasn't until five years later they began a relationship.</p>
<p>In 2014 they bought their first home together in the Hobart suburb. It comes w<span style="line-height: 1.3em;">ith its pink bathroom, purple bedroom and fluorescent green carpet.</span></p>
<p><span style="line-height: 1.3em;">"We want to preserve the character of the home; maintain that 1960s feel but modernise it," Cassie said.</span></p>
<p><span style="line-height: 1.3em;">"My mum and dad's first house was in the same suburb so we see it being our forever home," Cassie says.</span></p>
<p>Cassie is a pharmacist and <span style="line-height: 1.3em;">Matt is a swim instructor who's studying to become a P.E teacher.</span></p>
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Cassie and Matt's House Rules Tasmania $248,000 mortgage 

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<p>Western Australia builder Gransden Constructions has won top gongs at the recent HIA-CSR Australian Housing Awards, taking out both the Australian Home of the Year and Custom Built Home of the Year Awards.</p>
<p><span style="line-height: 1.3em;">The winning trophy home, located in the Perth Hills suburb of Bedfordale, is on 20 hectares and built around five areas known as pods, which make up a total of 1000 square metres. </span></p>
<p><span style="line-height: 1.3em;">One of the pods features a 20m heated pool, complete with enough fibre-optic lighting to make the roof look like the Milky Way.</span></p>
<p><span>Builder George Allingham told <em>WA Today </em>the owners, retirees </span><span>Retirees Tena and Terry Wheeler, wanted a house inspired by their combined love of Japanese architecture.</span></p>
<p><span>"It's a large house but it doesn't feel particularly large – it nestles into the block. The architect said it 'touches the earth lightly'," he said.</span></p>
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<p><a href="https://hia.com.au/aha" target="_blank">HIA-CSR Australian Home of the Year</a> is the top accolade with other finalists:</p>
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<li>Metricon Homes<span class="small-txt">South Australia</span>
</li>
<li>Planbuild Homes<span class="small-txt"> Queensland</span>
</li>
<li>Stonehaven Homes<span class="small-txt">Victoria</span>
</li>
<li>Spacemaker Home Extensions<span class="small-txt"> Victoria</span>
</li>
<li>BCG Constructions Pty Ltd<span class="small-txt">Victoria </span>
</li>
<li>Giorgi Exclusive Homes <span class="small-txt">Western Australia</span>
</li>
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<p><span>The project also won the award for the </span><span>Australian Custom Built Home of the Year</span><span>, partnered by Stramit Building Products. </span></p>
<p><span>The judges were impressed with the execution of the build and the material combination, and described this home as an exemplary masterpiece. </span></p>
<p><span><a href="https://www.gransden.com.au/-Company-" target="_blank">Gransden Construction</a> services the $1 million-plus market in new homes and the $850,000-plus market in home additions or renovations.</span></p>
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<p><span>Architect Suzanne Hunt says her</span><span style="line-height: 1.3em;"> favourite feature of the home was the</span><span style="line-height: 1.3em;"> tranquillity, light and connection to the landscape.</span></p>
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<p><span>The orientation of the house on the east-west long axis makes the most of natural weather conditions, including solar gain, natural light and the capturing of prevailing breezes.</span></p>
<p><span> High-level remote-controlled windows, sliding glass doors, and louvred and sashless windows ensure cross-flow ventilation. </span></p>
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