<p>An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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>.</p>

<p>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.</p>

<p><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." /></p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>Rebel had secured approval for the concept plans late last year.</p>


Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p><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_" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><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.</p>

<p>"<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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>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.</p>

<p>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.</p>

<p>"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;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>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.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Juliet to sit quietly amid Roseville apartment boom

<p>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.</p>

<p><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.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>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.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>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.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


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

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>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.</p>

<p>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.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"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.</p>

<p>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.</p>

<p>“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.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“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.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“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.”</p>


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

<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?

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<p>The Sydney house price downturn has continued to spread further across New South Wales, according to valuation firm Herron Todd White.</p>
<p>In February (bottom), houses in Newcastle slipped in to a declining market, and now the March National Property Clock has South East NSW joining them.</p>
<p>The Sydney has been a declining market since May 2018. </p>
<p>The Central Coast and Coffs Harbour housing market are expected to be next to follow suit. They have been starting to decline for a number of months.</p>
<p>Click <a href="https://www.propertyobserver.com.au/images/2019/3/5/National-March.jpg" target="_blank">here to enlarge</a> the March National Property Clock.</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/2019/3/5/National-March.jpg" alt=""></p>
<p>Having defied the downturn in Sydney for a number of months, Herron Todd White noted that 2018 was marked as a year of transition for the Newcastle and Hunter Valley residential markets.</p>
<p>"That transition, from a bullish and fast-moving market early on to a soft and increasingly brittle market by the end of the year, was always going to occur at some stage.</p>
<p>"It just happened to be 2018. This year of transition followed many years of strong and sustained growth, largely unprecedented in its length."</p>
<p>The NSW house price cooling is yet to reach the Mid North Coast region, which continues to sit at the peak of the market. It was recently joined by Dubbo.</p>
<p>There was good news in the Queensland capital, where Brisbane moved from approaching the peak of the market to a rising market, suggesting there's some way to go in their house price up-cycle. </p>
<p>"Brisbane in the coming twelve months will, generally speaking, see a stable market across most locations," HTW noted.</p>
<p>"We aren’t historically prone to mighty price movements in either direction.</p>
<p>"As mentioned in Month in Reviews past, Brisbane has been on the cusp of substantial price rises for about six years now.</p>
<p>"While there are plenty punting on the idea that 2019 will bring big gains, we prefer to think our real estate values will strengthen in a more measured way."</p>
<p>Click <a href="https://www.propertyobserver.com.au/images/2019/3/5/National-February.jpg" target="_blank">here to enlarge</a> the February National Property Clock.</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/2019/3/5/National-February.jpg" alt=""></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
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jrobinson-rf4aSBido9

Sydney housing market downturn spreads across New South Wales: HTW national property clock

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<p>A four bedroom Byford home has been sold for $335,000.</p>
<p>It previously traded for $435,000 in 2014, reflecting a $100,000 loss.</p>
<p>The listing was held by Eddie James at RayWhite.</p>
<p>It was on the market for 148 days before being transacted.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-wa-byford-129066614" target="_blank">21 Padra Turn</a>, the house comes with four bedrooms, two bathrooms, plus a separate lounge and activity area.</p>
<p>The 502 square metre holding was traded for $163,000 in 2010 and the current home was built in 2011.</p>
<p>Previously, in 2015 and 2017 the property had an asking price ranging from $449,000 to $370,000.</p>
<p>It features high ceilings in the kitchen/dining/family room, reversed cycle ducted air-con as well as a large alfresco area and rear access from double garage.</p>
<p><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></p>
<p>The median price for a home in <a href="/developments/byford-wa-6122">Byford</a> is $377,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as 0.3%.</p>
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j.ballantyne1990-6AQqhLzZaK

Byford mortgagee home sold for $100,000 loss

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<p><span>A two-bedroom Surry Hills apartment sold last weekend for $1,002,000 to an investor.</span></p>
<p><span>Selling agent James Ledgerwood of The Agency Eastern Suburbs advised there were four registered bidders at the auction where bidding finished $2000 above reserve.</span></p>
<p><span>The vendor recorded a loss as it last sold for $1.1 million in 2016</span>.</p>
<p><span>The loss was 10 percent plus costs.</span></p>
<p><span>The sale price was withheld on the listing websites.</span></p>
<p><span>The </span>36/45-49 Holt Street apartment was in the Habitat building.</p>
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Loss in Surry Hills as property investor spends $1,002,000

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<p>A leading Melbourne buyers' agent Mal James described the weekend Melbourne prestige auction results as "awful."</p>
<p>The agency attended 33 auctions, with only four houses sold, meaning, he suggested, that prices are continuing to fall.</p>
<div id="x_divtagdefaultwrapper" dir="ltr">
<div>"27 of the 33 auctions we covered had zero or one bidder," James said.</div>
</div>
<div id="x_divtagdefaultwrapper" dir="ltr">
<div> </div>
<div>"One or less is not an auction – it’s a charade."</div>
<div> </div>
<div>The Bayside offerings were "holding up surprisingly well .....but Boroondara's Scotch Hill was like a cemetery."</div>
<div> </div>
<div>An auction offering at <a id="LPlnk821905" href="https://www.marshallwhite.com.au/property/64-66-berkeley-street-hawthorn-756872/" target="_blank">64-66 Berkeley Street, Hawthorn</a> (pictured above), with a price guide of $8.7 million to $9.5 million, passed in on a vendor bid of $8.3 million, with no bids.</div>
<div> </div>
<div>The Marshall White marketing said the three level home had a distinctive, vine-clad Mount Gambier limestone facade over two titles.</div>
<div> </div>
<div>"It represented the pinnacle of Scotch Hill living and entertaining," agent James Tostevin suggested.</div>
<div> </div>
<div>There was also an unsuccessful auction five doors away at <a id="LPlnk546864" href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-54-Berkeley-Street-Hawthorn-3122/757534" target="_blank">54 Berkeley Street</a>. It now has a $2,975,000 asking price, having had a $3 million to $3.3 million pre-auction price guide through Jellis Craig.</div>
<div> </div>
<div>Melbourne's top disclosed sale was in South Yarra, where a four bedroom 1920s home was only sold after auction.</div>
<div> </div>
<div>The 5 Gordon Grove offering was sold for $4 million having been passed in at $3.925 million, the only bid after the opening $3.9 million vendor bid.</div>
<div> </div>
<div>The pre-auction price guide had been $3.9 million to $4.29 million.</div>
<div> </div>
<div>There was an undisclosed post-auction sale at South Melbourne where the property was passed in on its only bid of $4.95 million.</div>
<div> </div>
<div>The <a id="LPlnk167861" href="https://www.marshallwhite.com.au/property/46-howe-crescent-south-melbourne-757388/" target="_blank">46 Howe Crescent</a> auction vibe was described as "quiet" by one buyers' agent. </div>
<div> </div>
<div>The price guide had been $5 million to $5.5 million.</div>
<div> </div>
<div>The renovated Hazelwood Terrace offering dates back to its 1864 design by Charles Webb, the architect of the Hotel Windsor.</div>
<div> </div>
<div>There had been an update by Anna Vaughan Architects.</div>
<div> </div>
<div>The highest auction sale in Sydney a house at <a id="LPlnk536597" href="https://chadwickrealestate.com.au/property/house-nsw-wahroonga-10584/" target="_blank">8 Braeside St, Wahroonga</a>, which sold for $5.02 million through Chadwick Real Estate agent Lynette Malcolm.</div>
<div> </div>
<div>Set on almost 2,000sqm of gardens, the double brick five bedroom P&amp;O-style home had 409 sqm of internal living space. There was oversized double lock-up garage designed to house a boat.</div>
<div> </div>
<div>Sydney's next highest sale was <a id="LPlnk615130" href="http://www.ppdre.com.au/selling/NSW/Eastern-Suburbs/Bellevue-Hill/House/1P4474" target="_blank">69A Drumalbyn Road, Bellevue Hill</a> which sold for $5 million through PPD Real Estate.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2019/3/4/Clearance%204-03-2019.JPG" alt=""></div>
<div> </div>
<div>There were fewer capital city homes taken to auction week-on-week and year-on-year, Corelogic noted.</div>
<div> </div>
<div>There were 2,204 capital city homes taken to auction returning a preliminary clearance rate of 55 per cent.</div>
<div> </div>
<div>It was slightly lower than last week’s 2,293 auctions, which was the busiest week so far this year.</div>
<div> </div>
<div>Volumes are significantly lower than the 3,026 homes taken to auction over the same week in 2018.</div>
<div> </div>
<div>"Given the combined capital cities posted another month on month decline in home values in February, its expected vendors will remain reluctant to auction their property while selling conditions remain challenging," Corelogic auction analyst Kevin Brogan noted.</div>
<div> </div>
<div>"Year on year volumes will continue to trend lower throughout the year," he added.</div>
<div> </div>
<div>Melbourne's preliminary auction clearance rate of 54.9 per cent was recorded across 1,046 auctions this week, up from the 50.6 per cent final clearance rate last week when</div>
<div>volumes were 1,128.</div>
<div> </div>
<div>Melbourne had the cheapest property reported sold at the weekend, a two bedroom unit at <a id="LPlnk106300" href="https://www.obrienrealestate.com.au/listing-details/residential/28P0433/" target="_blank">5/562 Pascoe Vale Road, Pascoe Vale</a>, which fetched $241,000 through O’Brien Real Estate. There had been $200,000 to $220,000 price guidance.</div>
<div> </div>
<div>It last sold in 2006 at $168,000.</div>
<div> </div>
<div>There were 799 auctions held in Sydney returning a preliminary auction clearance rate of 61.3 per cent, increasing from the 50.1 per cent final clearance rate last week when 801 Sydney homes were taken to auction.</div>
<div> </div>
<div>Adelaide was the best performing smaller capital with a 47.9 per cent success rate.</div>
<div> </div>
<div>There was 44 percent in Canberra and 33 percent in Perth.</div>
<div> </div>
<div>Brisbane was the weakest performing auction market with only 32.9 per cent of homes selling.</div>
<div> </div>
<div>Brisbane saw a post-war house on 810 square metres at<a id="LPlnk116377" href="https://www.domain.com.au/55-alderley-avenue-alderley-qld-4051-2014925055"> </a>Alderley<a id="LPlnk383241" href="https://www.domain.com.au/55-alderley-avenue-alderley-qld-4051-2014925055"> </a>sell for $1,015,000.</div>
<div> </div>
<div>There were nine registered with the opening bid at $915,000 for the tenanted <a id="LPlnk313714" href="https://www.propertyobserver.com.au/https://raywhitealderley.com.au/properties/residential-for-sale/qld/alderley-4051/house/2045272" target="_blank">55 Alderley Avenue</a>.</div>
<div> </div>
<div>It was a $355 rental in 2015. </div>
</div>
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jchancellor-FAypfDUnLy

Melbourne's prestige auction results turn awful

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<p dir="ltr">Ray White Southbank secured the sale of $4.11 million in property under the hammer at an-room uction last week.</p>
<p dir="ltr">There were three sales under the hammer with four more selling prior, for a total clearance of seven from eight units.</p>
<p dir="ltr">Ray White Southbank Port Phillip &amp; Projects Victoria agent Andrew Salvo said it was standing room only at the auction.</p>
<p dir="ltr">"All bidders were pre-qualified and everyone we expected to turn up and bid did," said Salvo.</p>
<p dir="ltr">"We knew ahead of time that we created a really exciting competitive environment. </p>
<p dir="ltr">"All 35 seats were filled 15 minutes before auction time and there were another 30 or so stood wherever they could. </p>
<p dir="ltr">"Each property that sold passed vendor reserve prices through natural competitive bidding."</p>
<p dir="ltr">The one that passed in had two bidders.</p>
<p dir="ltr">"We even had significant interest from Sydney buyers look to move down to a cheaper market."</p>
<p dir="ltr"><strong>INNER CITY SELLERS</strong></p>
<ul>
<li>3413/350 William Street, Melbourne - $690,000 (4 bidders)</li>
<li>3409/350 William Street Melbourne - $1,170,000 (4 bidders)</li>
<li>201/565 Flinders Street Melbourne - (Passed in) (2 bidders)</li>
<li>910/152 Sturt Street, Southbank - $350,000 (2 bidders)</li>
<li>81/173 City Road, Southbank - $735,000 (sold prior)</li>
<li>21/6 Williams Road, Prahran - $220,000 (sold prior)</li>
<li>1011/80 Clarendon Street, Southbank - $510,000 (sold prior)</li>
<li>1110/163 City Road, Southbank - $435,000 (sold prior)</li>
</ul>
<p dir="ltr"><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/2019/2/28/182331_3409_350_WilliamSt_West_Melb_1980.jpg" alt=""></p>
<p dir="ltr"><em>Pictured: 3409/350 William Street, Melbourne </em></p>
<p dir="ltr">Salvo said the in-room style of selling was something new for the Melbourne auction market.</p>
<p dir="ltr">"With a huge amount of support and encouragement from the Ray White corporate trainers, we as a team, decided that it's time to turn this largely private treaty market on its head and offer sellers and buyers something new," he said.</p>
<p dir="ltr">"We also believe that buyers and sellers feel more secure due to the transparency of the process."</p>
<p dir="ltr"><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/2019/2/28/Copy%20of%20182331_3409_350_WilliamSt_West_Melb_2065%202.jpg" alt=""></p>
<p dir="ltr"><em>Pictured: 3409/350 William Street, Melbourne </em></p>
<p dir="ltr">A majority of the attendees were Australian citizens or permanent residents, while other nationalities and investors made up about 30% of the crowd, said Salvo.</p>
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In-room auction nets $4.11 million for inner city Melbourne apartments

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<p>EXPERT OBSERVATION</p>
<p>We expect Q4 GDP to confirm a softening trend, recording another soft print of 0.4% in the quarter to be 2.6% higher over the year.</p>
<p>This release will also provide an important update on household sector dynamics around dwelling investment and consumption – two factors we see constraining growth over the next year or so and look to have done so in Q4. With growth projected to slow, amidst remaining spare capacity in the economy, we see rates on hold for an extended period.</p>
<p>While this release is unlikely to trigger an immediate shift on rates, it will provide another marker on the growth front which may lead to an eventual reassessment of the future growth path by the RBA, particularly if weaker growth flows through to labour market conditions.</p>
<p>Looking forward, we see the economy supported by public sector spending, a rise in LNG exports and healthy growth in business investment. Offsetting these supports, consumption is likely to only grow modestly and dwelling investment is expected to fall. </p>
<p>Wednesday’s GDP figures are forecast to show the economy growing at a similar pace to Q3, printing at 0.4% q/q and seeing a year-average result of 2.9% for 2018.</p>
<p>In doing so, the data would confirm the economy slowed significantly in the H2 2018. Retail sales data and NAB’s modelling of household spending on services suggests that consumption growth will lift slightly to 0.5% - an improvement from Q3, but still a weak outcome.</p>
<p>Official data on residential construction suggest dwelling investment is to fall by around 3%, in line with NAB’s expectation of a decline of around 18% over the next two years, a view supported by the ongoing decline in building approvals. For our Q4 forecasts we see some downside risk to consumption and upside risk to public demand roughly offsetting. </p>
<p>Looking forward, we expect growth over the next two years to be driven by public infrastructure investment, business investment and further growth in net exports, with consumption to only see modest growth and dwelling investment to fall relatively sharply.</p>
<p>For now, we do not forecast a ‘wealth effect’ weighing on spending, despite our forecast for further declines in house prices, but rather see a larger effect from housing through a significant fall in the construction cycle.</p>
<p>The key uncertainty around our forecasts relates to consumption and business investment. While consumption is playing out broadly as we expected based on weaker income growth, there remains some risk from further declines in house prices leading to a ’wealth effect’.</p>
<p>On the business side, the NAB business survey suggests some loss in momentum over the past 6 months and a recent dip in capacity utilisation. This presents a downside risk to our strong outlook for investment.</p>
<p>With wage and price data suggesting inflationary pressure remained weak in Q4, we expect national accounts measures of prices and income growth will also remain modest. Nonetheless, this release will provide an update on household income growth, the savings rate and the pattern of household expenditure. Unit labour costs look to have remained weak - consistent with ongoing weakness in market sector inflation.</p>
<p><strong>Monetary policy implications:</strong> While the RBA remains focused on labour market for now, weaker GDP data will provide little comfort that activity will support ongoing strong employment growth.</p>
<p>Also, these data will provide a signal as to the likely speed and magnitude of the dwelling investment downturn as well as the pattern of household consumption – both downside risks to the RBA’s forecasts for growth.</p>
<p>The national accounts will likely confirm that income growth has remained low and also pose further questions around whether the labour market as a lagging indicator is yet to respond to the slowing in growth from mid last year.</p>
<p>We think that the RBA will wait for further evidence of a slowing labour market before shifting to an easing bias as leading indicators of the labour market are still favourable. Though with growth slowing we think the risk is building to the downside as the last effects of strong growth early in 2018 fade.</p>
<p><em>ALAN OSTER is NAB's Chief Economist </em></p>
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Household sector weakness to persist: NAB's Alan Oster

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<p>CoreLogic's February Home Value Index was released today, and it's further bad reading for a majority of capital cities.</p>
<p>Seven of the eight capitals saw house prices slide over the month. The national median house price value slipped 0.9%.</p>
<p>It was only spared further declines by Hobart, the only capital not to see a price decrease. Their median house price jumped 0.9 percent in February to $489,000.</p>
<p>Perth and Darwin housing markets were the biggest hit over the month. They saw declines of 1.4% and 1.3%. </p>
<p>Sydney and Melbourne continued their steep decline, with another 1.1% and 1.2% taken off their median house price values.</p>
<p>Sydney's median house price value now sits below $900,000, having seen the median value drop another $14,000 from January. Melbourne dropped $11,000 over the month.</p>
<p>Click here<a href="https://www.propertyobserver.com.au/images/2019/3/1/CoreLogic.jpg" target="_blank"> to enlarge</a>.</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/2019/3/1/CoreLogic.jpg" alt=""><br>Source: CoreLogic</p>
<p>Compared to this time last year, Sydney's median house price value is over $160,000 lower, while Melbourne's has dropped by $105,000.</p>
<p>Since the October 2017 peak Sydney is closer to $200,000 cheaper, and are now 11.5% down annually. Last month both capital city markets were <a href="/news/melbournes-10-6-annual-house-price-slump-now-rivals-sydney-10-9-corelogic">approaching 11% declines</a> (Melbourne 10.6%, Sydney 10.9%).</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/3/1/CoreLogic3.jpg" target="_blank">to enlarge</a>.</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/2019/3/1/CoreLogic3.jpg" alt=""><br>Source: CoreLogic</p>
<p>It's another decline above 1% for both the major capital city markets, the fourth straight month in a row.</p>
<p>Housing markets Adelaide, Canberra and Brisbane only saw small declines.</p>
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Perth and Darwin prices dip further, and Sydney sees 11.5 percent annual house decline

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<p style="text-align: left;" align="center">More than a third of total stock on Melbourne and Geelong’s land market are resale lots, potentially troubling, some of which were bought by speculators now attempting to quickly on-sell, according to RPM Real Estate Group’s Q4 Residential Market Review. </p>
<p style="text-align: left;">Their report found the secondary land market in Melbourne’s growth corridors is now hitting a peak, with 2,415 lots – or 39% - of total stock on the market comprising resale lots.</p>
<p style="text-align: left;">RPM’s head of Communities, Luke Kelly said just over half of these resale lots – 53% – have since settled, which suggests the majority of resales are genuine investors or even owner occupiers who are now unable to obtain finance to complete construction on their settled lot due to tighter lending criteria or a change in circumstances.</p>
<p style="text-align: left;">"It’s possible we’ll see some price reductions on resale lots as settlement approaches.</p>
<p style="text-align: left;">"However, realistically, people are reducing their profit margin to still make a profit but avoid losing their deposit – a $30,000 profit is better than a $10,000 loss."</p>
<p style="text-align: left;">Through data gathered from realestate.com RPM surmised, that of the total resale lots, 42% were located in the Western growth corridor, 34% in the Northern corridor, 18% in the South Eastern corridor and 6% in Geelong and the Surf Coast.</p>
<p style="text-align: left;">Kelly said while the conventional view is that resale stock undercuts retail lots, there is more to the story.</p>
<p style="text-align: left;">'The data (actually) reveals retail stock is cheaper than resale stock, given developers are producing smaller lots throughout their estates at more affordable price points," said Kelly.</p>
<p style="text-align: left;">The report found the downturn in the land market sharpened during the December quarter, with sales declining 42% from the previous quarter and 58% from the same quarter a year earlier.</p>
<p style="text-align: left;">However, the median lot price steadied, increasing 1.1% to $325,000 from the September quarter and 7.5% from December 2017. </p>
<p style="text-align: left;">Kelly said while the overall residential market will take time to recover throughout 2019, some sub-markets, such as vacant land, will likely recover more quickly as first home buyers come back in larger numbers and access to credit improves.</p>
<p style="text-align: left;">“We should start to see higher levels of activity towards the second half of the year after the Federal election once there is more certainty around proposed changes to negative gearing and capital gains tax and the market adjusts to changed lending parameters,” he added. </p>
<p style="text-align: left;"><strong>RPM found:</strong></p>
<ul>
<li>The key driver underscoring the slowdown in the apartment and townhouse market continues to be regulatory-driven credit restrictions for both investors and owner occupiers, which, together with falling prices, has adversely impacted purchaser financing to complete off-the-plan acquisitions.</li>
<li>After showing robust activity in the face of significant headwinds, total other dwellings have finally succumbed to current market conditions. Other dwelling approvals (apartments and townhouses) over December quarter 2018 were down 7.6% to record 5,831 approvals from the previous quarter – the lowest level since June quarter 2017.</li>
<li>More stark was the comparison to the same period a year ago which reveals a 55% fall in approvals.</li>
<li>Despite townhouse approvals picking up 5.6% over the December quarter from the previous quarter, approvals in apartments fell 19.3%.</li>
<li>Compared to the same quarter a year earlier, townhouse approvals fell 15.8% and apartments plunged 71.2%.</li>
</ul>
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Troubling resales 39% of Melbourne and Geelong’s land market stock: RPM Real Estate

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<p>A mortgagee's Blackburn house has been sold after more than two years and two unsuccessful auctions.</p>
<p>Originally listed for $1.35 million - 1.485 million the four bedroom two bathroom home was passed in at an October 2017 auction.</p>
<p>The second unsuccessful auction took place in July 2018, the property had an price guide of $1.1 million - $1.2 million.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-house-vic-blackburn-130336706" target="_blank">2/7 Langtree Court</a>, the home sold at a February 23 auction for $1.16 million.</p>
<p>Set on 252 sqm, the one story house is near new with construction completed in 2017.</p>
<p>Patrick and Rupa Mane of Raine &amp; Horne Blackburn sold the property.</p>
<p><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></p>
<p>The median price for a home in <a href="/developments/blackburn-vic-3130">Blackburn</a> is $1.31 million according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.7%.</p>
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Blackburn, Vic mortgagee home sold for $300,000 off original listing

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<p>A mortgagee offering of a Sandhurst land parcel fronting the Sandhurst Golf Club course has been sold for $650,000.</p>
<p><span>James &amp; Michelle Munn of Munn Partners held the fringe Melbourne listing.</span></p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-residential+land-vic-sandhurst-202310530" target="_blank">25 Brindabella Circuit</a>, it sold at a February 2 auction.</p>
<p><span>The parcel is 632 sqm.</span></p>
<p><span>It is located moments from, two </span>18 hole championship golf courses, clubhouse, restaurant, gymnasium, tennis courts, swimming pool and walking tracks.</p>
<p>Sandhurst is located close to East Link, Peninsula Link, shops, schools and 10 minutes from Bayside beaches. </p>
<p><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></p>
<p>Last sold in 2012 it traded for $419,000.</p>
<p>The median price for a home in <a href="/developments/sandhurst-vic-3977">Sandhurst</a> is $828,000, according to CoreLogic.</p>
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