Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

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Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

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Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

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While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

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The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

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A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

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The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

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The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

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The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

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The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

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Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

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Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

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Capital Corporation to cater to Upper North Shore downsizers by creating walkable community at The Residences at Wahroonga Estate

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?

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

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Rents are rising across Australia but slower than they were 12 months ago, according to the latest quarterly rental review by CoreLogic.
There has been a general slowdown in the rate of rental growth.
This trend is typical of the second quarter, which historically records a slower period for rental growth and appreciation than the seasonally strong first three months of the year.
CoreLogic research analyst Cameron Kusher said the first two quarters of 2018 have seen softer rental growth than the same two quarters of last year highlighting the slowing rental growth across the nation.
"With rental stock continuing to rise as off-the-plan unit settlements continue, it is anticipated that the softening rental growth will continue over the coming months.”
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/5/CL%20QRR%20Graph%201.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/7/5/CL%20QRR%20Graph%201.JPG" alt="">
Across the nation, rents were 0.3 per cent higher over the second quarter of 2018 and 1.8 per cent higher over the 12 months to June 2018, less than half what it was over the same period in 2017, when rents climbed by 0.7 per cent.
Rental growth over the second quarter is slightly higher in the combined regions (+0.4 per cent) than in the combined capital cities (+0.3 per cent), and over the past 12 months, regional rents climbed 3.1 per cent compared to 1.4 per cent growth across the capitals.
In the second quarter, rents climbed in all capital cities except for Darwin (-1.0 per cent) and Sydney (- 0.3 per cent).
Hobart reported the highest quarterly rental increase (+1.9 per cent), followed by Canberra (+1.3 per cent).
Hobart was, across all the capitals over the past 12 months, reporting the highest growth in rental rates (+10.7 per cent) and Canberra was the next strongest performer (+4.5 per cent).
Rents climbed higher in all capital cities except Perth (-0.2 per cent) and Darwin (-1.7 per cent) over the past 12 months.
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/6/rental%20rates.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/7/6/rental%20rates.JPG" alt="">
Over the past 10 years, national weekly rents for both houses and units have increased by 25.7 per cent.
House rents increased by 1.9 per cent over the past 12 months, while units increased by 1.7 per cent. 
The national median rent is $429 per week ($427 for houses and $434 for units).
The median house rental in the capital cities is $464 compared to $458 for units, while across the regions, both houses and units averaged $356 per week. 
Sydney continues to be Australia’s most expensive capital city to rent in, with a median rent of $583, compared to Hobart, which has one of the lowest average rents across all the capitals at $418 per week.
Adelaide ($375) has the cheapest weekly rent out of all Australian capital cities.
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/5/CL%20QRR%20Graph%2045.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/7/5/CL%20QRR%20Graph%2045.JPG" alt="">
Rental yields have increased nationally by 0.6 per cent over the past 12 months to 3.7 per cent.
The average rental yield is 3.4 per cent across the combined capitals (+0.1 per cent).
In comparison, yields across the combined regions fell slightly (-0.1 per cent) to 4.9 per cent.
Annual rental yields increased in Sydney (+0.1 per cent), Darwin (+0.3 per cent) and Canberra (+0.1 per cent).
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/6/RENTAL%20rates%202.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/7/6/RENTAL%20rates%202.JPG" alt="">
Yields remained unchanged in Adelaide, Brisbane and Melbourne, and declined slightly in Hobart (- 0.2 per cent) and Perth (-0.1 per cent).
Darwin has both the highest growth in rental yields (+0.3 per cent) as well as the highest yield (+5.7 per cent).
Hobart has the second highest yield (+4.9 per cent) followed by Canberra (+4.6 per cent).
Melbourne (+3.0 per cent) has the lowest rental yields, followed by Sydney (+3.2 per cent).
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j.ballantyne1990-6AQqhLzZaK

Rental prices climb, slower than last quarter: CoreLogic

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<div class="cq-article-content-paras section">
The Brisbane real estate agency consultancy Tessa is taking legal action against the developer of the Newstead Series apartment project after it didn't pay $5.2 million allegedly owed for selling hundreds of apartments.
The Australian Financial Review reported Tessa has briefed barrister Simon Couper, QC, and engaged DLA Piper to commence proceedings before the Supreme Court of Queensland.
The case is against JGL Properties-owned company Evelyn Street Project (pictured above).
</div>
JGL Properties' inner city Newstead Series project included four towers – The Carlyle, The Donaldson, The Ajax and The Koerstz.
The developer, represented by William Roberts Lawyers, alleges the agency agreement between the two parties is "a clear case of a statutory disqualification with the result that Tessa is not entitled to be paid or keep commissions and fees as the formal requirements were not complied with."
<div class="cq-article-content-paras section">
The developer's lawyer said that because Tessa did not get a Form 6 appointment for the apartment towers Ajax and Koerstz, it is not entitled to be paid any commission for sales in two towers.
</div>
<div class="cq-article-content-media section">The developer's lawyer also argues that Tessa is now not even entitled to be paid or keep any commission for sales in or other fees relating to The Carlyle and The Donaldson because of technical reasons in the Property Occupations Act of 2014.</div>
<div class="cq-article-content-paras section">
Tessa has already received commissions and advisory agents fees of $4.95 million to date from the developer but the developer has demanded that be paid back.
The developer denies that Tessa is entitled to payment of a second tranche of fees that become due upon settlement of each apartment sales contract, which started settling last month.
JGL Properties and Tessa both declined to comment on the legal dispute.
The buildings are named after Australia's original wool presses used in the heritage listed woolstores of the Newstead area.
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Tessa seeks commissions from JGL Properties for Brisbane off the plan apartment sales

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Alexandra Heath, the RBA's head of economic analysis, was speaking at the Urban Development Institute of Australia, Wollongong
It is a great pleasure to be here today to talk to members of the UDIA in Wollongong. To start, I'm going to give an overview of how the Australian economy has been travelling and how the drivers of growth have been evolving. In particular, I'm going to highlight the growth in non-mining business investment and the fact that dwelling investment is no longer contributing, although it is likely to remain at a high level for some time. Then I am going to turn to the outlook for housing markets across states, focusing on differences in the drivers of demand and how they relate to demographic changes. Finally, I will take this process of disaggregation one step further to look at some of the factors that have been driving demand for housing in Wollongong and the Illawarra region. Clearly, the close proximity to Sydney, which is only likely to strengthen with improvements to transport infrastructure, is an important factor.
<h2 id="the-macroeconomic-outlook">The Macroeconomic Outlook</h2>
GDP growth in Australia has averaged around 2½ per cent over the past five years or so (Graph 1). This is a little bit below our estimates of trend growth, so you would say that growth has been decent, but not really enough to make significant inroads into the spare capacity in the economy. Low and stable wage pressures and consumer price inflation are also consistent with this general picture.
<div class="image-graph">
<div class="title">Graph 1</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph1.gif" alt="Graph 1: GDP Growth">
</div>
GDP growth picked up over the year to the March quarter to around 3 per cent, and more recent data have been positive. Our central forecast is for growth to be at or above 3 per cent over 2018 and 2019. This should lead to a further gradual reduction in spare capacity and a gradual increase in wage and inflationary pressures.
To understand this central forecast, it is necessary to look at how the composition of growth has been changing (Graph 2). The drag on growth from falling mining investment has diminished. This has played out largely as expected and we anticipate that most of its effect will be done by early next year. The contribution to growth from the public sector has also increased. The other two points I want to highlight are that there has been a significant pick-up in the contribution of investment by non-mining firms, but that dwelling investment is no longer contributing to growth.
<div class="image-graph">
<div class="title">Graph 2</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph2.gif" alt="Graph 2: GDP Growth, year ended">
</div>
The pick-up in non-mining business investment matters because it is hard to imagine a sustainable pick-up in growth without investment being a part of the story. New investment is required to replace depreciated capital and it is one of the ways new technology gets embedded into the way goods and services are delivered. So, long periods of weak investment growth can create concerns that the foundations are being laid for weak productivity growth in the future.
It is fair to say that we are now more confident about a sustainable pick-up in non-mining business investment. In 2015, our discussion of the risks around our forecasts highlighted the weakness in non-mining business investment and noted that indicators of investment intentions provided very little evidence that a recovery was imminent. This was despite the fact that many of the preconditions for a recovery, such as reports of above-average business conditions, were in place. We spent a considerable amount of effort trying to understand why investment outside the mining sector was low.<a id="r1" href="http://www.rba.gov.au/speeches/2018/sp-so-2018-07-05#fn1">[1]</a>
Rolling forward, non-mining business investment grew by 10 per cent in year-ended terms in the most recent national accounts (Graph 3). A lot of the pick-up in non-mining business investment over recent years has been from the non-residential construction category, which includes a range of things like hotels and office blocks. The ‘other’ category, which includes investment in areas like computer software and research &amp; development, has also been adding noticeably to growth. Liaison suggests that many firms have been more willing to spend on IT, particularly software, to become more productive, reduce costs and improve their service quality.
<div class="image-graph">
<div class="title">Graph 3</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph3.gif" alt="Graph 3: Private Non-Mining Business Investment">
</div>
Machinery &amp; equipment investment has become increasingly important to the non-mining business investment growth story. The pick-up in public infrastructure work being done by the private sector is a part of this story (Graph 4). Our liaison contacts have reported that the recent increase in the flow of public infrastructure work, and expectations of further infrastructure spending based on both state and federal government commitments, have encouraged contractors in the construction industry to commit to investments in new construction equipment.
<div class="image-graph">
<div class="title">Graph 4</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph4.gif" alt="Graph 4: Public Infrastructure">
</div>
<h2 id="the-outlook-for-housing">The Outlook for Housing</h2>
As already noted, dwelling investment has gone from making a positive contribution to growth two years ago to being roughly flat over the year to March. In terms of our forecasts, dwelling investment is not expected to contribute much to growth over the next couple of years, but is expected to remain at a high level.
To understand the outlook, it is helpful to recognise that there isn't a single national housing market. At the state level, there have been some similarities in the evolution of dwelling investment, but there have also been distinct differences (Graph 5).
<div class="image-graph">
<div class="title">Graph 5</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph5.gif" alt="Graph 5: Real Dwelling Investment">
</div>
One point of similarity is that the construction of higher-density apartments has been much more important than in the past, especially in the east-coast capitals. We have used our liaison program quite extensively to understand how to adapt our forecasting processes to take into account that the time taken for a building approval to progress to construction and the period of construction is longer and more variable for high-density projects than for detached dwellings. The liaison program, which includes organisations such as the UDIA and its members, has also allowed us to gain deeper insights into specific local factors, such as differences in planning rules and the emergence of capacity constraints in the housing construction sector.
One point of difference across states has been the timing of dwelling investment cycles. For New South Wales and Victoria, the level of dwelling investment has been broadly stable at a high level since 2016. In contrast there has been a decline in higher-density construction in Queensland since early 2017. In Western Australia, residential construction peaked in mid 2015, which was well after the end of the mining boom. These differences highlight the fact that there are different demand and supply forces at work across the states. Given time constraints, I am going to focus my attention on the demand side of the market.
An important driver of housing demand over the long run is the rate at which new households are being formed. This depends on population growth and changes in the average number of people who are living in each household. Household size declined steadily in Australia between 1960 and 2000 before levelling out, alongside declines in marriage and fertility rates and population aging. The natural increase in the Australian population has also declined over time due to demographic factors. In particular, lower fertility rates have offset increased life expectancy (Graph 6). Having said that, the rate of natural increase in Australia's population remains higher than in most other advanced economies.
<div class="image-graph">
<div class="title">Graph 6</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph6.gif" alt="Graph 6: Population Growth">
</div>
Immigration has also been a feature of the population growth story and it has certainly been the dominant influence on the swings in population growth over the past decade. The largest single category of net overseas migration has been people on temporary student visas (Graph 7). Prior to the financial crisis, a large share of these students were coming to Australia for vocational training courses. Following changes to visa requirements, student visa numbers initially dropped, but have picked up again in recent years, mostly due to an increase in students attending university. To put this into perspective, education now accounts for around 10 per cent of Australia's total exports, which is in the same ball park as our rural exports. From the perspective of demand for housing, the important point is that most of these students have gone to Sydney and Melbourne.
<div class="image-graph">
<div class="title">Graph 7</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph7.gif" alt="Graph 7: Net Overseas Migration">
</div>
Another interesting category is skilled workers. The net inflow of people on skill visas increased in response to demand for workers during the mining boom. Most of these workers went to Western Australia and Queensland. At the same time, net migration to Western Australia and Queensland from other states and New Zealand also increased. As the mining sector transitioned from the construction to the production phase of the mining boom, the demand for labour fell. The number of people on skilled visas fell and the inflow of people from New Zealand and other Australian states turned to an outflow.
As a consequence, there have been quite large differences in population growth at the state level, which have had direct effects on the demand for housing (Graph 8). Population growth is expected to remain strong, particularly in Victoria and New South Wales, and the net overseas migration component of this is expected to be driven by people on student visas.
<div class="image-graph">
<div class="title">Graph 8</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph8.gif" alt="Graph 8: Population Increase and Dwelling Investment">
</div>
On the supply side, the pipeline of residential construction that has been approved, but not completed remains high in New South Wales and Victoria (Graph 9). There is also a reasonable pipeline of work in Queensland, although it has already started to decline. Based on recent approvals data and expected demand conditions, this suggests that dwelling investment in New South Wales and Victoria will remain at a high level for a number of years. Liaison contacts have suggested to us that capacity constraints in the construction industry, particularly in New South Wales, will make it difficult for construction activity to increase.
<div class="image-graph">
<div class="title">Graph 9</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph9.gif" alt="Graph 9: Residential Dwelling Pipeline">
</div>
Of course household formation and population growth are not the only drivers of housing demand. For example, interest rates and changes in lending standards can also influence how much households are willing and able to spend on housing. Another way to gauge the current balance of housing supply and demand is to look at housing price growth.
Over the past five years, housing price growth has been subdued in Brisbane and Perth (Graph 10). This is consistent with the fall in population growth coinciding with an increase in the supply of housing. In contrast, housing price growth has been strong until recently in Sydney and Melbourne, where population growth has been strong. Given that housing accounts for around 55 per cent of total household assets, we are paying close attention to these developments.
<div class="image-graph">
<div class="title">Graph 10</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph10.gif" alt="Graph 10: Housing Price Growth">
</div>
<h2 id="the-housing-market-in-the-illawarra-region">The Housing Market in the Illawarra Region</h2>
From a demand perspective, the Illawarra region has experienced a pick-up in population growth. Some of this has come from overseas students attending the University of Wollongong, and some has come from people migrating to the Illawarra region from Sydney. Although the Illawarra region is a little older, on average, than the rest of Australia and Sydney, it still has a large working-age population (Graph 11).
<div class="image-graph">
<div class="title">Graph 11</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph11.gif" alt="Graph 11: Age Distribution">
</div>
This is partly because its geographic proximity and transport infrastructure allow people living in Wollongong and the Illawarra region to commute to Sydney. Around 20 per cent of Wollongong workers commute at least 50 kilometres to work (Graph 12). This is one of the highest rates in the state. Unsurprisingly, five of the seven areas with higher shares of people commuting more than 50 kilometres are also within commuting distance of Sydney. Illawarra residents are also well placed to benefit from the fact that some of the fastest growing areas of Sydney are in south and south-west, including the proposed “aerotropolis” around the new airport at Badgery's Creek. Access to these growth areas will be enhanced if some of the recently announced transport infrastructure plans are realised.
<div class="image-graph">
<div class="title">Graph 12</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph12.gif" alt="Graph 12: Distance to Work 50+ km in NSW">
</div>
Although people from the Illawarra region can and do commute to Sydney, labour market conditions in the Illawarra region itself have also been strong recently (Graph 13). In combination, these factors mean that there has been strong employment growth for those living in the Illawarra region over the past five years and the unemployment rate is close to the average for New South Wales, which is, in turn, lower than the Australian unemployment rate.
<div class="image-graph">
<div class="title">Graph 13</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph13.gif" alt="Graph 13: Labour Market">
</div>
Strong population growth and the economic prosperity associated with strong labour market outcomes have led to higher housing prices in the Illawarra region (Graph 14). Just as in Sydney, developers have responded to the higher prices, and dwelling investment in the region has increased. Also similarly to Sydney, there has been a debate about whether the infrastructure has been growing fast enough to accommodate the needs of an expanding population and the increase in construction that goes with that.
<div class="image-graph">
<div class="title">Graph 14</div>
<img src="http://www.rba.gov.au/speeches/2018/images/sp-so-2018-07-05-graph14.gif" alt="Graph 14: Median House Prices">
</div>
<h2 id="conclusion">Conclusion</h2>
In summary, over the past couple of years, non-mining business investment has become a more important driver of growth in the Australian economy. This is a good thing because investment of this kind is necessary to ensure future productivity growth, which is ultimately what contributes to the economic prosperity and welfare of the Australian people. Infrastructure investment has been a part of this story.
At the same time, dwelling investment growth has eased off. Although dwelling investment is still expected to remain at a high level, particularly in New South Wales and Victoria, it is not likely to contribute much to growth over the next couple of years. Demand for housing remains strong because population growth is expected to stay strong. However, the housing story is different across states and across regions within states, partly because population trends differ. The effects of the mining investment cycle on population trends and housing markets in Western Australia is a clear-cut illustration of this point.
The data show that population trends and housing market developments in the Illawarra region are closely linked to those in Sydney, partly because the transport infrastructure allows people to live in the Illawarra region and commute to Sydney. Future transport infrastructure plans and the development associated with the Badgery's Creek airport are likely to strengthen these ties. As always, the key to effective urban development is high-quality, transparent cost-benefit analysis of potential infrastructure projects informed by local knowledge. The UDIA has an important role to play here. The UDIA and its members, in Wollongong and elsewhere, also have an important role to play in macroeconomic policy by informing the Bank's understanding of the factors at play in different housing markets through our liaison program.
<div class="footnotes"> </div>
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jrobinson-rf4aSBido9

The outlook for the housing market: RBA

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Sunshine Coast residents will soon be able to make use of Queensland’s first grand linear park.
Located within Palmview’s largest masterplanned community, Harmony (pictured above), the first $3.1 million phase is set to be completed by mid-August.
Once fully complete, the park will span more than five hectares and run the length of 10 football fields.
AVID Property's Bruce Harper said he was thrilled to be nearing the opening the first phase of the park.
“The Grand Linear Park will be a popular new hub for the whole community to come together and enjoy spending time outdoors, an exciting new addition not just for Harmony residents, but for the entire Coast.”
The Grand Linear Park (pictured below) will ultimately be made up of a series of local parks, each with individual facilities.
<img src="https://www.urban.com.au/images/2018/7/4/Harmony%20Aerial.JPG" alt="">
Phase one will provide two hectares of community space and the first stage of a large network of interconnected cycle and walk ways.
Phase one of the park will house three separate play areas, and an outdoor fitness centre.
“With 90% of our residents at Harmony set to be within 250 metres of a local park, getting outdoors to enjoy the Sunshine Coast’s active lifestyle will be not only easy but accessible for everyone,” Harper said.
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Construction underway on linear park at masterplanned Sunshine Coast community

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During the first quarter of 2018, resales of Adelaide properties generated $491 million in profits and $14.9 million in losses.
These resales accounted for 3.3% of total resale profits nationally and 3.5% of resale losses.
<img src="https://www.urban.com.au/images/2018/7/5/PG%20Adelaide%202.JPG" alt="">
The regions with the lowest share of resale losses over the quarter were Burnside, Prospect and Unley while the greatest share of resale losses occurred in Playford, Walkerville and Adelaide.
Adelaide is continuing to see only moderate increases in values however, like most other capital cities, the share of resales at a loss has increased over the quarter.
<img src="https://www.urban.com.au/images/2018/7/5/PG%20Adelaide%201.JPG" alt="">
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Adelaide properties generating profit, but values only rising moderately: CoreLogic

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Perth created $98.1 million in loss making resales accounting for 22.9% of all losses nationally, over the March 2018 quarter.
Its resales of residential properties in Perth created $889 million worth of resale profits which accounted for 6% of resale profits nationally.
<img src="https://www.urban.com.au/images/2018/7/5/PG%20Perth%201.JPG" alt="">
Peppermint Grove had no resales at a loss.
No other council region had fewer than 15% of resales at a loss over the quarter.
The highest proportion of resales at a loss over the quarter was recorded in the Perth, Mandurah and Rockingham council areas.
With the housing market across Perth showing tentative signs of bottoming out, we may start to see loss making sales steady however, both houses and units recorded an increase over the quarter.
Click to <a href="https://www.propertyobserver.com.au/images/2018/7/5/PG%20Perth%202.JPG" target="_blank">enlarge</a>
<img src="https://www.urban.com.au/images/2018/7/5/PG%20Perth%202.JPG" alt="">
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Perth accounted for 23% of all residential resale losses nationally: CoreLogic Pain & Gain report

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The Greater Brisbane dwelling market is diverging by property type in terms of resale losses, according to the latest Pain &amp; Gain report from CoreLogic.
The divergence between houses and units for loss making sales is likely attributable to higher supply levels of units across key areas of the inner city and the subsequent falling unit values.
The highest proportion of resales at a loss occurred in Lockyer Valley, Somerset and Brisbane.
Throughout south-east Queensland, the council regions with the lowest proportion of resales at a loss were Sunshine Coast, Logan and Redland. 
<img src="https://www.urban.com.au/images/2018/7/2/PG%20Graph%204-1.JPG" alt="">
Based on resales across Greater Brisbane over the first quarter of 2018, the total value of resales at a profit was $1.2 billion while the total value of resales at a loss was recorded at $29 million.
Brisbane generated 7.8% of the total value of resale profits nationally over the quarter and 6.8% of the losses..
<img src="https://www.urban.com.au/images/2018/7/2/PG%20Graph%204-2.JPG" alt="" width="744" height="425">
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Greater Brisbane house and apartment resale markets diverge strongly: CoreLogic

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EXPERT OBSERVATION
Almost 90% of individual residential properties re-sold in Australia during the March 2018 quarter attracted a gross profit.
Vendors pocketing a total of $14.819 billion, the majority of which was generated in Sydney and Melbourne.  
The latest CoreLogic ‘Pain and Gain Report’ delivers quarterly insights into the performance of re-sold properties across Australia.
If relatively few properties are re-selling at a loss (pain) it generally indicates a stronger housing market whereas when a higher proportion of properties are re-selling at a loss it indicates weaker local housing market conditions.  
The report’s topline result for the March 2018 quarter is good, the vast majority of properties reselling at a gross profit, however the percentage that did so (89.8%), was actually the weakest quarter for profit making residential re-sales since the three months to October 2013.
By comparison, the quarter previous to that (ending December 2017) saw a more favourable 91.1% of all properties resold for a profit.  
Even a year prior to that, (the quarter ending December 2016), recorded a better result than March 2018, with 90.7% of properties resold for a profit.
Houses Vs. Units
Houses outperformed units across Australia, including across the combined capital city and combined regional markets.  
Melbourne units were 10 times more likely to re-sell at a loss than houses, a trend replicated in Brisbane (nine times) and Canberra (eight times).
Sydney and Hobart are the only regions where a greater proportion of units re-sold for a profit over the quarter than houses.   
While there was a distinct gap between the performances of houses vs. units (houses re-selling at a gross profit were recorded at 91.4%, compared to just 85.7% for units), both houses and units recorded a fall in profit-making re-sales over the March quarter.
Capital Cities Vs. Regions 
Capital city properties being re-sold remain more likely to sell for a profit than those in regional markets, but the gap has narrowed over the past three months.
Over the March 2018 quarter, 91.1% of capital city properties re-sold for a profit (down from the previous quarter’s 92.8% and also down against a year earlier (92.6%).
In fact, the share of profit-making Capital city re-sales over the March 2018 quarter was the lowest it’s been since March 2013.  
Across the combined non-capital city markets, 88.0% of re-sales were at a profit, a slight decline from 88.3% over the previous quarter but up from 87.4% over the same period in 2017. 
Most of the strength in regional markets is being driven by areas close to capital cities such as Sydney, Melbourne and Brisbane, as well as some coastal markets, while mining regions continue to record heightened levels of re-sales at a loss.
Gains
The total value of re-sales gross profits for the March 2018 ($14.819 billion) was driven Sydney and Melbourne (30.6% and 26.1% of total national profits respectively).
Propelling these results are both the higher cost of housing in Sydney and Melbourne, plus strong growth in dwelling values over recent years which have resulted in substantial profits.
As a comparison, these two cities accounted for just 8.8% and 7.8% of the total value of losses nationally over the quarter.  
When analysing regions with the lowest proportion of re-sales at a loss, the data now shows that some of regions surrounding Sydney and Melbourne are recording even fewer re-sales at a loss than the capital cities themselves.  
Pains
For the March 2018 quarter, $428.1 million in realised gross losses were recorded from resales.  
Regions with the highest share of losses nationally were Perth (22.9%) and regional Qld (22.0%). 
Over the first quarter of 2018, the proportion of re-sales at a loss across each capital city was recorded at, 2.4% in Sydney; 4.0% in Melbourne; 10.0% in Brisbane; 8.2% in Adelaide; 28.9% in Perth; 1.6% in Hobart; 35.6% in Darwin and 7.9% in Canberra.   
The instances of loss-making re-sales increased over the March 2018 quarter relative to the previous December 2017 quarter in all capital cities other than Hobart.
When comparing lossmaking re-sales to a year earlier, there were fewer res-ales at a loss in Melbourne, Hobart, Darwin and Canberra, with all other capital cities having recorded an increase. 
Five regions (all of which are linked to the resources sector), recorded at least 40% of all resales at a loss over the quarter.
It should be noted that in many of these regions the share of losses is now lower than at the market peak, however instances of loss remain elevated; a reflection that housing values remain well below their peaks in these areas. 
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Almost 90% of residential resales making a profit: CoreLogic's Cameron Kusher

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A five bedroom house in Western Australia's Kallaroo has been sold by mortgagees.
The Joondalup district cut de sac offering sold at $1,050,000, down on its earlier $1,300,000 asking price when offered in 2017.
It was sold by Scott Langley at RayWhite.
It was built in 1989 and last traded at $2.05 million in 2006.
The <a href="https://reiwa.com.au/4-woolwich-close-kallaroo-4042347/" target="_blank">4 Woolwich Close, Kallaroo</a> house features five large bedrooms all with robes, three bathrooms plus two powder rooms.
It also features a spacious kitchen with breakfast bar, formal and informal living/dining areas, study and a teenager's retreat/gymnasium, split-level theatre room, circular balcony overlooking pool, other balconies with views and private courtyards, and wine cave.
It has a double garage, with separate storage areas
The suburb's median house price sits on <a href="/news">$778,000</a> according to CoreLogic.
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Half price $1,050,000 Kallaroo, WA house sold by mortgagee

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A Bentleigh property owned by the Pellicano family for 30 years has been sold.
The property, with a permit for 52 apartments sold to a local Melbourne developer for $9.75 million.
CBRE agent Mark Wizel, who had marketed the property, said it had presented a "fantastic packaged opportunity to the market.’’ 
<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/2018/5/15/277-279%20Centre%20Road.jpg" alt="">
The 277-279 Centre Road property comprises a 1564 square metre Commercial 1 zoned allotment with a double storey commercial building of 1276 square metres offering a prominent retail strip frontage of over 33 metres with rear lane access to 36 car spaces.
The property, which is located within the coveted McKinnon Secondary College zone and across the road from an Aldi supermarket, is currently 90 per cent leased to nine tenants at a passing income of $267,000 per annum.  
The approved permit allows for a Rothelowman designed, mix-used development with 52 apartments and two significant ground floor retail spaces over seven levels. 
 <img src="https://www.urban.com.au/images/2018/7/4/Table%20for%20Bentleigh.JPG" alt="">
Wizel said demand for housing in Bentleigh had driven prices past the Melbourne suburban average with a 21 per cent uplift in value over the last 18 months to register a median house price of just over $1.6 million. 
The property according to CBRE National Director Investments Mark Wizel, who brokered the deal with Julian White and Nathan Mufale, attracted a strong field of local, interstate and Asian purchasers.
Wizel said the permit appeared to unlock the best-use potential of the property although the 10-year average occupancy per tenant illustrated the strong and ongoing demand for commercial leases on the strip.
 
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