An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

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;

<h2>What is the Help to Buy Scheme?</h2>

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.

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).

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.

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.

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.

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.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<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>

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.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

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

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.

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.

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.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: 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.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: 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.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: 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.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: 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.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: 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.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

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.

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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EXPERT OBSERVATION
After the biggest fall in at least 40 years – with a 10.2% top to bottom fall between September 2017 and June this year - average capital city home prices have turned up again.
I thought prices would fall further with a 15% top to bottom fall led by around 25% falls in Sydney and Melbourne. But the facts changed from May – with the election removing the threat to negative gearing &amp; the capital gains tax discount, earlier than expected interest rate cuts &amp; a relaxation of APRA’s 7% interest rate test all pushing prices up again. So, where to from here?
Extreme property views
There are basically two extreme views amongst “property experts”. On the one hand, some real estate spruikers still wheel out the old “property will double every seven years” line. On the other hand, property doomsters say it’s hugely overvalued and over-indebted with massive mortgage stress and so a 40% or so crash is inevitable.
The trouble with the former is that implies home price growth of 10.3% pa, so even if wages growth picks up to 3.5% (a big ask!) it implies that the average price to income ratio of Australian housing will rise to around nine times over the next seven years from around six times now and in 14 years’ time it will be 14 times!
The trouble with the doomsters is that they’ve been saying that for 15 years and we’re still waiting for the crash.
In between, first home buyers are wondering why it’s so hard to do what my and my parent’s generation took for granted: be part of the Aussie dream with a quarter acre block.
The reality is it’s far more complicated than these extremes. Here’s seven stylised “facts” regarding Australian property.
First – it’s expensive
This has been the case since early last decade and remains so despite the recent correction in prices:
<ul>
<li>According to the 2019 Demographia Housing Affordability Survey the median multiple of house prices to income is 5.7 times in Australia versus 3.5 in the US and 4.8 in the UK. In Sydney it’s 11.7 times &amp; Melbourne is 9.7 times.</li>
<li>The ratios of house prices to incomes and rents relative to their long-term averages are at the high end of OECD countries.</li>
<li>The surge in prices relative to incomes has seen household debt relative to household income rise from the low end of OECD countries 25 years ago to the high end now.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2019/9/11/house%20price%201.jpg" target="_blank">Click here </a>to enlarge: 
<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/2019/9/11/house%20price%201.jpg" alt="">
These things arguably make residential property Australia’s Achilles heel. But that’s been the case for 15 years or so now.
Second – it’s diverse
While it’s common to refer to “the Australian property market”, in reality there is significant divergence between cities. This divergence has been extreme over the last five years with Perth and Darwin seeing large price falls in response to the end of the mining investment boom, as other cities rose.
<a href="https://www.propertyobserver.com.au/images/2019/9/11/house%20price%202.jpg" target="_blank">Click here </a>to enlarge: 
<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/2019/9/11/house%20price%202.jpg" alt="">
The divergence is also evident in gross rental yields that range from 8.7% in regional WA units to 3.1% in Sydney houses.
Third – talk of mortgage stress is overstated
Headlines of excessive mortgage stress have been common for over a decade now.
There is no denying housing affordability is poor, household debt is high and some households are suffering significant mortgage stress. But most borrowers appear to be able to service their mortgages.
And despite some seeing negative equity and a significant proportion of borrowers switching from interest only to principle &amp; interest loans (which has seen interest only loans drop from nearly 40% of all loans to 23%) there has been no surge in forced sales and non- performing loans.
Non-performing mortgages have increased but remain low at around 0.9%.
While Australia saw a deterioration in lending standards with the last boom, it was nothing like other countries saw prior to the GFC.
Much of the increase in debt has gone to older, wealthier Australians, who are better able to service their loans.
Low doc loans are trivial in Australia and the proportion of high loan to valuation ratio loans has fallen as has the proportion of interest only loans.
<a href="https://www.propertyobserver.com.au/images/2019/9/11/house%20price%203.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/9/11/house%20price%203.jpg" alt="">
Fourth – it’s been chronically undersupplied
Annual population growth since mid-last decade has averaged 373,000 people compared to 217,000 over the decade to 2005, which requires roughly an extra 75,000 homes per year.
Unfortunately, the supply of dwellings did not keep pace with the population surge (see the next chart) so a massive shortfall built up driving high home prices.
Thanks to the surge in unit supply since 2015 this is now being worked off, but it follows more than a decade of accumulated undersupply which is the main reason why housing has remained relatively expensive in Australia.
Not tax breaks or low rates – all of which exist in other countries with far more affordable housing!
<a href="https://www.propertyobserver.com.au/images/2019/9/11/house%20price%204.jpg" target="_blank">Click here </a>to enlarge: 
<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/2019/9/11/house%20price%204.jpg" alt="">
Fifth – house prices go up and down
After several episodes of price declines ranging from 5 to 10% across various cities over the last 15 years and 15%, 21% and 31% for Sydney, Perth and Darwin respectively in recent years home buyers should be under no illusion that prices only go up.
Sixth – the housing market remains rate sensitive
While it varies from city to city, despite much scepticism recent rate cuts have helped push up the property market again.
Finally – house price crashes are not easy to forecast
The expensive nature of Australian property and associated high debt levels have seen calls for a property crash pumped out repeatedly over the last 15 years.
In 2004, The Economist magazine described Australia as “America’s ugly sister” thanks in part to soaring property prices.
Property crash calls were wheeled out repeatedly after the Global Financial Crisis (GFC) with one commentator losing a high-profile bet that prices could fall up to 40%.
In 2010, a US newspaper, The Philadelphia Trumpet, warned that “Los Angelification” (referring to a 40% slump in LA home prices around the GFC) will come to Australia. Similar calls were made a few years ago by a hedge fund researcher and a hedge fund: “The Australian property market is on the verge of blowing up on a spectacular scale."
Over the years these crash calls have often made it on to 60 Minutes and Four Corners.
But our view remains that to get a national housing crash – as opposed to periodic falls in some cities – we need much higher unemployment, much higher interest rates and/or a big oversupply.
But while the risk of recession has increased it remains unlikely, aggressive rate hikes are most unlikely and while property supply still has more upside it’s unlikely to lead to a big oversupply as approvals to build new dwellings are now falling.
As we have seen for years now overvaluation and high debt on their own are not enough to bring on a crash.
So where to now?
The rebound in buyer interest since May has seen auction clearance rates in Sydney and Melbourne rise to around 75% and prices lift nearly 2%, albeit other cities are mixed.
<a href="https://www.propertyobserver.com.au/images/2019/9/11/house%20price%205.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/9/11/house%20price%205.jpg" alt="">
 
This has so far come on low volumes, but they now look to be rising. Our base case is that house price gains will be far more constrained than the 10-15% implied by current auction clearance rates.
Compared to past cycles debt to income ratios are much higher, bank lending standards are tighter, the supply of units has surged with more to come and this has already pushed Sydney’s rental vacancy rate above normal levels and unemployment is likely to drift up as economic growth remains soft.
So, we don’t expect to see a return to boom time conditions and see constrained gains through 2020 – eg around 5% or so. There are three key things to watch:
<ul>
<li>The Spring selling season – if auction clearances remain elevated as listing pick up then it will be a positive sign that the pick-up in the property market has legs.</li>
<li>Housing finance commitments – these have bounced but will have to pick up a lot further to get 10-15% price rises.</li>
<li>Unemployment – if it picks up significantly in response to slow economic growth then it will be a big constraint on house prices and could result in another leg down in prices.</li>
</ul>
We don’t see the rebound in the Sydney and Melbourne property markets as a barrier to further monetary easing, but it may reduce the need as it turns the wealth effect from negative to positive. And if it continues to gather pace then expect a tightening of the screws again from bank regulators.
Implications for investors
Over long periods of time residential property provides a similar return to shares (at around 11% pa) but it offers good diversification as it performs well at different times to shares so it has a role to play in investors’ portfolios.
The pull back in prices in several cities in the last few years provides opportunities for investors, but just bear in mind that rental yields remain relatively low in Sydney and Melbourne and be wary of areas where there is still a lot of new units to hit.
There is probably better value to be found in regional centres and Perth, and Brisbane looks attractive in offering reasonable yields, a low vacancy rate and improving population growth.
Key points
<ul>
<li>
The Australian housing market remains far more complicated than optimists &amp; doomsters portray it to be.
</li>
<li>
Yes, it’s expensive and heavily indebted but talk of mortgage stress is overstated &amp; it’s been undersupplied.
</li>
<li>
The combination of rate cuts, the election and a modest regulatory relaxation have helped turn property prices back up, but the upswing is likely to be constrained.
</li>
</ul>
Dr Shane Oliver is Head of Investment Strategy and Chief Economist AMP Capital.
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soliver-smf6LQXgW9

The seven things you need to know about the Australian property market: Shane Oliver 

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Many first home buyers feel a sense of optimism about commencing their journey into the property market, according to the latest Herron Todd White (HTW) residential report. 
The report notes that obtaining real value for money, affordability (repayments) and wariness of making a mistake are their key concerns.
Many first home buyers can be categorised into two groups:
1. Those who are over the rental roller coaster and the high costs of renting even a modest property in their preferred location
2. Those who want the perceived stability of owning their own home and are intent on building a nest for their existing or imminent family.
"Within the Lismore locality, the affordable end of the market that provides an entry into the property market for let’s say less than $350,000 offers a wider range of choice not available in the beach side or coastal areas," the valuation firm said. 
A three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-east+lismore-130399394" target="_blank">103 Nielson Street, East Lismore</a> (pictured above) sold for $335,000 earlier this year.
The property is flood free according to Lismore City Council records, is within 50 metres of sporting fields, three kilometres by road from the Lismore CBD and within one kilometre of the Southern Cross University.
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Built in the 1950s and recently internally renovated, this three-bedroom, one-bathroom dwelling is set on a 506 square metre, near-level lot with a single garage and room for a shed at the rear or a carport in front of the single garage.
<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/2019/8/27/goonellabah.jpg" alt="">
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<a href="https://www.realestate.com.au/sold/property-unit-nsw-goonellabah-130861762" target="_blank">3/25 Cambridge Drive, Goonellabah </a>(pictured above) sold for $320,000 in April this year.
The property is flood free according to Lismore City Council records, backs on to a bushland reserve and is within one kilometre of schools, parks and Goonellabah shopping centre and aquatic centre.
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Built in 1994 and recently internally renovated, this three-bedroom, one-bathroom unit has a single garage and has been well maintained. 
A paved outdoor area at the rear overlooks bushland. There is scope to further improve this unit and add value by adding a rear pergola and updating the kitchen to suit.
Upgrader home buyers
"Upgraders feel the need to expand their living to cater for growing families, create more comfort and move on up the property ladder.
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"Within the Lismore locality, upgraders from the entry level end of the property market with a budget between $350,000 and $600,000 have a wide range of choice that again is not available in the beach side or coastal areas," the valuation firm noted. 
<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/2019/8/27/east%20lismore%202.jpg" alt="">
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A renovated three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-east+lismore-131185078" target="_blank">45 Barham Street, East Lismore</a> (pictured above) sold for $450,000 in May this year.
The property is well elevated with district views and is within 2.5 kilometres of schools, Lismore golf course, sporting parks and Lismore Square shopping centre.
Built in 1985, it’s a two storey, three-bedroom, one-bathroom, renovated, detached modern dwelling with a two-car detached garage and two-car attached carport. 
The dwelling has room to remodel the lower level rumpus room into more bedrooms or a home theatre room.
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Rendering the external brick skin, expanding the rear pergola to a large deck and adding an infinity edge pool could take this property to the next level and add significant value, but watch the budget!
Prestige-end buyers
"Prestige property in the Lismore area is to be taken in context. This is property that offers features, dwelling size or views that are not available to the upgrade market or first home buyer price levels.
"Whether it be from a win, windfall or just plain hard work, people in this market expect that their property is a cut above the rest and they deserve to be there," the valuation firm said. 
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At a price point above $600,000, local prestige property is available but sells less frequently and sometimes the best properties sell by word of mouth or by an unsolicited approach.
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A 2004-built home at <a href="https://www.realestate.com.au/sold/property-house-nsw-goonellabah-130722654" target="_blank">11 Sophie Street, Goonellabah</a> (pictured above) sold for $618,000 in May this year.
The property is well elevated in a modern estate with local views and is within three kilometres of schools, sporting parks and Goonellabah shopping centre.
Built in 2004, this two storey, four-bedroom, two- bathroom, detached two-level modern dwelling has 213 square metres of living area, large rear deck, a double lock up garage, extensive landscaping and a below ground pool all on a 788 square metre allotment. 
Features include:
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<li>Stone bench tops and gas cooking</li>
<li>Raised ceilings in the lounge</li>
<li>Air conditioning</li>
<li>Polished hardwood timber flooring in the living areas</li>
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Additional storage area under the dwelling could be used to further expand the living area, but all that really needs doing to this property is just to keep it well maintained and tidy.
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A four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-nsw-richmond+hill-130232890" target="_blank">4 Quail Place, Richmond Hill </a>(pictured above) sold for $840,000 in April this year.
The property is well elevated with good rural and distant hinterland views, and is within a ten minute drive of schools and Goonellabah shopping centre.
Built in the 1980s and renovated in 2012, this part two level, four-bedroom, three-bathroom, detached semi-modern dwelling has 278 square metres of living, outdoor areas of 94 square metres and is on a 1.54 hectare allotment.
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The property has room to be improved with a shed, pool, stable or tennis court.
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j.ballantyne1990-6AQqhLzZaK

Lismore first home buyers feel optimistic: HTW Residential 

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EXPERT OBSERVATION
The consumer mood has lapsed back into slight negative territory again with continued pressure on family finances and concerns about the near term outlook weighing on sentiment.
The September survey included additional questions on the tax offset payments the Federal government began making with tax refunds from July 1. Just over 16% of consumers reported receiving a payment.
We estimate that around 30% of households are likely to receive a meaningful rebate so this survey indicates that about half of eligible consumers have already received a payment.
Amongst those that had received a payment, 29% planned to spend it all, and a further 16% planned to spend over half. The remainder (53%) planned to spend less than half including around 25% who planned to save the full payment.
Responses to additional questions on news recall show rising concerns about the economy and the global backdrop. The highest recall for the month was news on ‘economic conditions’ (33%) and ‘international conditions’ (19.8%) – the latter hitting a four year high.
<a href="https://www.propertyobserver.com.au/images/2019/9/11/consumer%20sentiment%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/9/11/consumer%20sentiment%201.jpg" alt="">
 
These proportions are up significantly from a year ago (20.5% and 8.3% respectively). News on both was widely assessed as more unfavourable, with the proportion reporting ‘unfavourable’ doubling over the year. There was a comparable lift in the proportion reporting employment news as ‘unfavourable’ as well.
These concerns about the state of the economy; the international backdrop; and employment are seeing consumers become more cautious about their finances. The sub-index tracking expectations for ‘finances, next 12 months’ declined 2.2% to be down 9.4% since June and at a four year low.
The sub-group detail suggests a range of factors may be contributing including concerns around jobs, persistent weak wages growth and low returns on financial assets weighing on sentiment amongst those at or nearing retirement age.
Consumer assessments of current finances also deteriorated slightly. The ‘finances vs a year ago’ sub-index declined 2.5% to 84.3. While that is above the low of 80.2 registered back in April, it is still a weak read, below long run averages.
It is particularly disappointing given the support that should be coming from the combined effect of policy – interest rate cuts and tax relief – and from stabilising housing markets.
A weaker near term outlook for the economy has also weighed on sentiment. The ‘economy, next 12 months’ sub-index is down 3.1% The disappointing June quarter national accounts update – released in the middle of the survey week – undoubtedly had an effect.
The report showed annual growth slowing to just 1.4%yr, the weakest pace since the GFC. Despite this, expectations for the economy are still comfortably above their July low, when the RBA’s back to back rate cuts appear to have badly rattled consumers.
Interestingly, consumers’ longer term expectations for the economy have been both steadier and more positive.
The ‘economy, next 5 years’ sub-index was the only component to post a rise this month, up 2.1% and up 6.7% since July to a level still comfortably above its long run average. That may be an indication that some of the difficulties currently facing the economy are expected to dissipate over time.
Consumer attitudes towards spending dipped in September. The ‘time to buy a major household item’ sub-index declined 2.8%, unwinding all of last month’s modest gain and taking the sub-index well below its long run average again. Spending on discretionary and big ticket durable items has been particularly weak over the last year.
Consumers’ job loss fears remained slightly elevated. The Westpac-Melbourne Institute Unemployment Expectations Index was essentially unchanged, holding at 133.5 in September, a touch above the long run average of 130 (recall that higher readings indicate that more consumers expect unemployment to rise in the year ahead).
The Index remains about 10% above the levels prevailing late last year, a clear sign of cooling conditions in the labour market.
Housing-related sentiment recorded a more mixed month after the clear positive response to interest rate cuts seen in June-July-August.
The ‘time to buy a dwelling’ index declined 2.9%, reversing most of last month’s gain. At 123.3, the index is still above its long run average of 120 and near a five year high. That said, the sizeable 7-8% declines in Sydney and Melbourne suggest the nascent recovery in prices in these markets may already be starting to dampen buyer enthusiasm.
In contrast, consumers’ house price expectations have continued to firm. The Westpac-Melbourne Institute Index of House Price Expectations Index posted a further 3.9% in September to be up a spectacular 45.8% since May. All major states recorded a lift in price expectations this month. Expectations posted a particularly strong 6.7% gain in NSW.
Responses to additional questions on the ‘wisest place for savings’ show a slight easing in risk aversion although it remains very high by historical standards. Consumers still heavily favour ‘safe options’, 61% nominating deposits, superannuation or paying down debt as the best place for savings, compared to 64% in June.
The proportion favouring real estate nudged up, but only slightly from 10% to 12% and the proportion favouring shares dipped slightly from 10% to 9%. Perhaps most tellingly, some 9% of consumers simply nominated ‘don’t know’ – the highest reading on records going back to 1974.
The Reserve Bank Board next meets on October 1. Westpac expects the Board will decide to cut the cash rate by a further 0.25% from 1% to 0.75%.
In August the Reserve Bank released a revised set of forecasts which showed a downgraded outlook for the unemployment rate; a further extension to the time when the inflation rate is expected to move into the 2-3% band; and a downward revision to the outlook for wages growth.
All of these forecasts were based on ‘market pricing’ for the interest rate path at the time which included one more rate cut in 2019 and a second move in early 2020.
Month to month timing of RBA moves is imprecise but with the case for lower rates quite clear and both US Federal Reserve and European Central Bank likely to be easing policy in the next week or so the next meeting in October seems a sensible time for the Reserve Bank to deliver the next rate cut.
Westpac expects a second cut in February 2020, which we believe will follow further cuts from the Federal Reserve by year’s end.
<a href="https://www.propertyobserver.com.au/images/2019/9/11/consumer%20sentiment%202.jpg" target="_blank">Click here </a>to enlarge: 
<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/2019/9/11/consumer%20sentiment%202.jpg" alt="">
Read full report '<a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/September/er20190911BullConsumerSentiment.pdf" target="_blank">Westpac-MI Consumer Sentiment September' (PDF 128klb)</a>
BILL EVANS is Chief Economist for Westpac
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bevans-rYk9SxEa4r

Sydney and Melbourne's nascent recovery may already be starting to dampen buyer enthusiasm: Bill Evans 

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EXPERT OBSERVATION
As the property market continues to recover this spring, buyers and sellers are well advised to focus on five key areas that will largely shape the market’s performance. 
Leading into spring, the market conditions seemed to be improving week to week.  
The recovery to date has not been linear across market segments. Some niche markets such as inner-city houses have rebounded strongly whilst apartments in suburbia continue to struggle.
Generalised commentary such as ‘Sydney house prices’ won’t help a Birchgrove home buyer nor will ‘inner city apartments’ assist someone looking to downsize to a waterfront apartment. 
Stock levels/days on market – vendors benefited whilst buyers were left frustrated by the historically low stock levels over winter.
Market pessimists claimed the economic fundamentals were weak – but when there are more buyers than sellers, vendors hold the advantage regardless of the fundamentals.
Sometimes the market can play the other way – whereby the fundamentals are healthy but the market is over supplied with stock, giving buyers an advantage.
The recovery in Perth will look this way when their State economy shows strong improvement, the housing market will initially lag until excess stock levels are cleared. 
CoreLogic monthly index – normally, you would not suggest an index would influence the performance of a market. It is normally the other way around; the market shapes the index’s reading. 
The CoreLogic monthly index accurately tracked the downturn and has quickly become the most credible source of the market performance.
In recent months, the index has shown the market tracking positively which then feeds into buyer confidence.  
With money being cheap and readily available, buyer confidence is the final requirement for the market recovery to really take hold.
We have already seen many sales that suggest the market recovery is becoming more aggressive and reflective of early 2017. 
The CoreLogic monthly index is where many commentators, forecasters and buyers will take their cue. 
Rental market – the inner west rental market is falling, across the housing and apartment market. This is likely to impact the market in one of two ways.
Firstly, demand will be muted as investors are less likely to be interested in buying a rental property at a time of falling income.
Secondly, existing landlords may be tempted to sell by the higher sales prices on offer, at a time of lower rental returns. This could potentially add to stock levels (supply).
We have already seen this trend over winter as a disproportionally high number of landlords opted to sell rather than re-let their property as it became vacant.  
Bidders per property is without doubt the best metric to measure market depth. During the downturn, finding one fair and reasonable offer was a feat for vendors. This is why many properties were either ‘Prior to Auction’ or were simply ‘Withdrawn’.
When faced with an environment of one or no buyers, trying to engineer a competitive auction is optimistic. 
In recent times, the number of bidders has increased enormously. We are regularly seeing up to 5 or 6 bidders per property, highlighting depth in the market which will ultimately push prices higher. 
The apartment market has copped an absolute shellacking since the Opal Tower cracked last December.
Interestingly, buyers have still shown a propensity to purchase apartments, albeit with added caution.
If there is one common denominator in the high few profile instances of defects, it is high rise apartments less than 7 years old. This will inadvertently make older, established apartment blocks more appealing to home buyers.
A complete loss of buyer confidence in the apartment market would be catastrophic for the market and the economy. Hopefully this can be avoided.
PETER O'MALLEY is sales consultant with <a href="https://www.harrispartners.com.au/" target="_blank">Harris Partners Real Estate Agents</a> and has been successfully selling real estate in Sydney's Inner West since 2000.
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Housing market conditions improving heading into the spring: Peter O’Malley

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The latest CoreLogic data shows Perth dwelling prices fell another -0.5% over August, bringing quarterly falls to -1.8% and year on year price falls to -8.8%.
As a result of this latest shift Perth values are now 20.6% down from their June 2014 peak.
Falls in dwelling values were larger across Perth apartments this year with -9.9% falls compared to a -8.6% fall in house values.
Perth's Mandurah has seen the fourth largest overall value decline -35.7% this year.
In July, Domain Economist Trent Wiltshire predicted some Perth price growth in 2020, however he warned there is still an ongoing risk that price falls could continue.
"A more positive outlook for Perth ​has existed for a while, but property prices have continued falling, mortgage arrears​ are rising, and more households are in ​negative equity​," Wiltshire said.
"House and unit prices are expected to bottom out in spring and remain unchanged during the six months to December, with prices likely to stay at the June median of $520,000 for houses and $330,000 for units.
"A rebound in Perth prices in 2020 was expected, but given the entrenched weakness in the market, only modest price growth of 0 to 2% for houses and units was forecast."
<img src="https://www.urban.com.au/images/2019/6/28/Perth%20Forecast.JPG" alt="">
More recently REIWA data showed that listings have increased 6% since the December 2018 quarter to 16,957, however it isn’t helping selling periods. It took an average of 78 days for vendors to sell their properties last quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs saw increases over the past year.
President of REIWA Damian Collins recently said: "It’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations."
Herron Todd White found that the residential market in Perth has tracked closely in line with their February predictions for the year (so far).
In their August report, the valuation firm stated: "Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes.
"Thankfully, the wider Perth area has seen some stability in its median price."
The report noted that according to their data the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
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Perth prices could finally see a rebound in 2020

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EXPERT OBSERVER
The long delayed plans for a 55 storey hotel in Bligh Street have now progressed to State Significant Development stage. 
It is amazing that the Minister for Planning, Rob Stokes, in announcing that the Bligh Street project can now be submitted as a State Significant Development, said it had been in "planning purgatory for too long".
It is good news that the project is now more connected to the planning system and hopefully will get planning approval before too long.
The design of the building looks impressive and the sleek 55 storey tower will be a good addition to the Sydney skyline.
On the same day that the Bligh Street hotel moves forward, the plans for the proposed Ritz Carlton Hotel in Pyrmont were being discussed at a public meeting held by the Independent Planning Commission (IPC), where the NSW Department of Planning, Industry and Environment argued against the 62 storey hotel project proceeding because it was different to the existing character of Pyrmont.
The Urban Taskforce is concerned that since the publication of the Local Character and Place Guideline in February 2019 the Department of Planning seem to be preferring the preservation of existing local character over bold new visions for the future.
Pyrmont needs to be "taken to the next level" as the Premier, Gladys Berejiklian has recently stated.
The Urban Taskforce presented at the meeting and proposed that the Ritz Carlton Hotel and its associated functions were an ideal project to be the catalyst for a renewal of development in Pyrmont.
With the proposed new fish markets opening up the redevelopment options for the old site will come higher rise development on the peninsula. The Urban Taskforce presentation to the IPC an optimistic future for Pyrmont with significant new development.
Sydney needs more quality hotels and the small planning step forward for the proposed hotel at Bligh Street is good news. This needs to be supported by the IPC approving the Ritz Carlton Hotel in Pyrmont.
CHRIS JOHNSON is the Urban Taskforce CEO.
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Delayed Bligh Street, Sydney hotel plans moving forward: Chris Johnson

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There were 1,529 homes taken to weekend auction across the country, but just the one was raising funds for charity.
The Gold Coast home auction raised $986,000 with sale price at the no-reserve auction going to Mater Little Miracles, that helps more than 2000 sick babies a year.
The four-bedroom, four-bathroom Hamptons-style house at 19 Laurel Drive, Helensvale (above and below), was built by Plantation Homes on the Gold Coast’s northern corridor on land donated by Villawood Properties.
The selling agents Brad Clarke and Siarne Loeve, of LJ Hooker, had 18 registered bidders at the auction where auctioneer Damien Cooley officiated.
<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/2019/9/9/19%20Laurel%20Drive%20Helensvale%202.jpg" alt="">
Cooley noted there were 332 homes that changed hands in Helensvale over the last year - almost one new family moving into the suburb every day, attracted by the train station, Westfield, great schools and parklands, all which are big features for families.
It was the eighth house sold to raise funds for Mater Little Miracles.
"The open plan living home effortlessly opens on to the alfresco and resort style pool with sun deck to celebrate the best of Queensland living," the marketing said.
The weekend saw an overall national preliminary clearance rate of 77 per cent, according to CoreLogic, which noted a small decease in offerings on the prior weekend's 1,615 homes taken to auction, with the final clearance rate came in at 70 per cent.
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Ate the same time last year, 1,916 auctions were held across the capital cities with a final clearance rate of just 55.3 per cent. 
"The final clearance rate across the combined capitals has held at or above 70 per cent for the last 3 weeks and this week is set to be no different," CoreLogic auction analyst Kevin Brogan said.
Melbourne was host to 769 auctions, returning a preliminary clearance rate of 76.6 per cent. 
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Sydney recorded a preliminary clearance rate of 83.1 per cent across 522 auctions. The nation's top sale was in Sydney when $5,275,000 was paid pre-auction for an architecturally transformed character home in Manly with harbour views.
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The home at 80 Addison Road, Manly (below) came with a separate self-contained flat and cabana with wet bar plus a spa.
<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/2019/9/9/80%20Addison%20Road%20Manly.jpg" alt="">
It was set on a 544sqm block in the Eastern Hill precinct.
It last sold at $2.6 million in 2008.
There was a $4.16 million sale when 18 Tindale Road, Artarmon was auctioned through McGrath. The four bedroom 1910 home, with with pool and spa, last sold at $2.1 million in 2009.
The nation's cheapest sale was a one bedroom apartment at 10/109 Mary Street, Richmond that had been listed with a $255000 to $280000 price guidance.
It sold for $302,500.
It was a $300 a week rental in 2017.
The first floor apartment with around 36 sqm space sits in a block of 12.
A Toorak trophy home on a large corner block sold at auction for $4.7 million.
The house was offered with a price guide of $4.2 million to $4.4 million.
Fiona Counsel and Justin Long of Marshall White secured the sale of <a href="https://www.realestate.com.au/property-house-vic-toorak-131719694" target="_blank">11 Kent Court</a> (below), a three bedroom, three bathroom home spread across a single level.
<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/2019/9/9/11%20Kent%20Court%20Toorak.jpg" alt="">
Set on 613 sqm, the cul de sac listing was marketed as providing "an opportunity to move in or redevelop (STCA)."
The northerly oriented home features multiple fireplaces, landscaped gardens and a roof retreat.
Adelaide was the next strongest auction market after Sydney and Melbourne, recording a 76 percent success rate.
Canberra had a 66 percent clearance rate and Brisbane sat on 60 percent, its strongest for some time.
The top sale in Brisbane was a Queenslander in Red Hill. 
The five bedroom home at 28 Bramble Terrace sold through Belle Property at $1,675,000. It had last traded at $756,000 in 2005.
Canberra's top sale was also in its Red Hill.
The 4 Arnhem Place, Red Hill ACT three bedroom house sold through Hayman Partners at $1.4 million.
It had last sold in 2011 at $1.15 million.
It had recently been a $975 a week rental.
Perth was the weakest auction market at 43 percent.
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Mater Little Miracles auction home sells for $986,000

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EXPERT OBSERVER
Home owners are holding onto their property for much longer than they were 10 to 15 years ago.
Based on the findings from the CoreLogic May 2019 sales data (the most up to date data), the average hold period has consistently increased since 2005 across both house and units nationally.
Nationally, the average length of home ownership currently sits at 11.3 years for houses and 9.6 years for units, this is an increase of 3.8 years for houses and 2.9 years for units over the past 10 years. (Note: The average hold period figure is based on sales from the past year, using the latest sold date and the previous sold date to establish how many years a property has been held for between each transaction.)
Across the individual capital cities, the average hold period of both houses and units rose over the last 10 years, 5 years and current year, with houses being held longer relative to units across all capital cities.
<img src="https://www.urban.com.au/images/2019/9/6/Home%20Ownership%201.JPG" alt="">
Melbourne houses recorded the longest period of ownership over the last year at an average of 12.5 years
Perth units recorded the longest average hold period of 10.8 years.
Darwin houses are typically being held for 9.2 years
Canberra units are held on average for 8.7 years; the shortest average hold period across the capital cities.
Compared to ten years ago, Sydney recorded the longest average hold periods for both houses and units at 9 and 7.3 years respectively, since then Melbourne houses have consistently seen the longest hold period, while results have been varied across the unit market.
<img src="https://www.urban.com.au/images/2019/9/6/Home%20Ownership%202.JPG" alt="">
Regional Victoria and Queensland represented the areas with the longest average hold periods across regional Australia, with houses across both regions currently being held on average 11.1 years, while units in regional WA are being held the longest at 10.2 years.
The Northern Territory rest of state region currently has the shortest average hold period at 8.9 years for houses and 8 years for units.
The council areas with the longest average hold period for houses was dominated by regions within Melbourne, Sydney and regional Queensland. Houses in Monash Victoria came in with the longest average hold period at 17.1 years.
While for units, Perth makes up eight of the 20 council regions with the longest hold periods. Armadale (WA) and Swan Hill (Vic) both recorded an equal average hold period of 13.4 years for units.
The East Pilbara council region tops both the house and unit list for the shortest average hold period, with houses currently being held for 7.7 years, while units across the region are being held by half the duration at 3.8 years.
The remaining regions on the ‘houses held’ list are comprised by mostly regional parts of the country as home owners are evidently more likely to sell across these regions compared to their capital city counterpart. 
<img src="https://www.urban.com.au/images/2019/9/6/Home%20Ownership%203.JPG" alt="">
Interestingly, the shortest average hold period list for units is dominated by Melbourne with 6 of the 20 council regions making up the unit list. The data suggest that home owners are much more reluctant to sell their property than they were a decade ago which is also highlighted by the ongoing decline in sales transactions.
Other factors at play include: the rising cost of selling and purchasing property, combined with affordability constraints across some Australia’s more expensive capital cities contribute to owners holding onto their properties longer.
It’s expected that this trend will continue over the coming years given such concerns aren’t likely to see much improvement in the near future.
<img src="https://www.urban.com.au/images/2019/9/6/Home%20Ownership%204.JPG" alt="">
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic.
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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Home owners holding onto their homes longer: CoreLogic's Cameron Kusher

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A three bedroom Eglinton, Western Australia home has been sold by mortgagees for $280,000.
John Douglas of Professionals held the listing which was slashed to $280,000 in July. 
Nestled on a 290 sqm allotment, the 2014 built home at <a href="https://www.realestate.com.au/property-house-wa-eglinton-131126606" target="_blank">87 Cinnabar Drive</a> comes with open-plan living/dining area, home theatre/formal lounge, modern kitchen, carpeted master bedroom and two other bedrooms. 
Other features include internal laundry, reverse cycle air conditioning and rear access to double lock up garage. 
The house is situated opposite a park.
It was previously listed with a price guide of $339,000 and $369,000 back in June 2018 which was reduced to $329,000 by the end of November 2018 when the property was taken off market again.
More recently, in May 2019, the abode sought $325,000.
Last sold in 2013 the previous home traded for $193,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
According to CoreLogic, the annual change in median price in <a href="/developments/eglinton-wa-6034">Eglinton</a> over the past 10 years is -2.8%.
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Eglinton, WA mortgagee home listing slashed $50,000 and sold

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A Napperby, South Australia mortgagee has been sold for $90,000.
The house was originally listed for $138,000, before being slashed to $110,000.
Wayne White of Wardle Co Real Estate marketed the listing.
Situated at <a href="https://www.realestate.com.au/property-house-sa-napperby-127573318" target="_blank">158 Scenic Drive</a>, the property consists of three bedrooms and one bathroom.
Set on 3,237 sqm, the listing describes the home as a "hobby farm for a renovator."
It is located 10 minutes from Port Pirie.
The property features a partly renovated bathroom and four parking spaces, outside there is an old olive orchard, other trees and chook houses.
The circa 1960 built home has been on the market for over 500 days.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
According to CoreLogic, in <a href="/developments/napperby-sa-5540">Napperby</a> the annual change in median price over the past 10 years is 1.9%.
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