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

Joel Robinson

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

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

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

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

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

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

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

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

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

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?

ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

RBA to hold rates for "prolonged period" rather than hikes: ANZ

Townhome approvals across Melbourne softened over April, but are still higher than they were this time last year, according to&nbsp;according to Archistar&rsquo;s&nbsp;May National Townhouse and Unit Building Report.

There were 687 townhouses across the Victorian capital approved over April, down from the 895 approved in March.

Sydney went the other way however, with a spike from 699 to 923 approvals.

Since the impact of COVID in early 2020, there&#39;s been a strong shift in buyer preference toward townhouses.

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Over the last 12 months, only Adelaide and Perth saw less approvals for townhouses.&nbsp;

Brisbane reported the highest increase in townhouse building approvals over the year ending April 2021, up by 42.9 per cent,&nbsp;followed by Sydney up 14.6 per cent&nbsp;and Melbourne up by one per cent.

Townhouse building approvals however were down by 24.9 per cent&nbsp;for Adelaide and 10.6 per cent&nbsp;for Perth on the same year on year comparisons.

[smartcode_project:default project_id=102256 project_image_fid=163757]

Melbourne reported the highest average per townhouse building cost of $349,032 over April 2021, followed by Perth at $341,500, Brisbane at&nbsp;$282,123, Sydney at $277,494 and Adelaide at $238,286.

Nationally, 6669 higher-density dwellings were approved for building over April, which was the highest April total since 2018.

Since the impact of COVID in early 2020, there's been a strong shift in buyer preference toward townhouses

Melbourne townhouse approvals soften in April as Sydney spikes

<h2>EXPERT INSIGHT</h2>

The exponential growth in prices in the past quarter isn&rsquo;t confined to the housing market &ndash; many apartment markets are also experiencing major uplift.

In putting together the upcoming Winter edition of The Price Predictor Index, I have been updating the median price data for every notable suburb and town in Australia, changing the figures from three months ago to the current data.

In so many cases, the uplift has been quite startling, indicative of the once-in-20-years property boom sweeping the nation. When median prices are showing double-digit increases in just three months, you know something exceptional is afoot.

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A few weeks ago, I listed some examples of rises for median house prices in locations across the nation. But it&rsquo;s also occurring in many apartment markets &ndash; not as prevalent, but nevertheless noteworthy in individual instances.

On the Redcliffe Peninsula in buoyant Brisbane, several suburbs are recording big rises in median prices for apartments. The median price in Scarborough has increased from $480,000 to $510,000, while Redcliffe has jumped from $385,000 to $425,000 &ndash; a rise of 10.5% in three months.

The median unit price in the Brisbane northside suburb of Newmarket has risen 16% in the past quarter, from $400,000 to $465,000.

In Perth, examples of big increases in median unit prices in three months include Rockingham ($210,000 to $250,000), Maylands ($285,000 to $315,000), Dianella ($270,000 to $330,000), Fremantle ($475,000 to $510,000) and Joondanna ($310,000 to $385,000).

The Rockingham rise was 19%, Dianella jumped 22% and Joondanna&rsquo;s increase was 24%. But the biggest leap has been in Mosman Park, up from $285,000 to $385,000 &ndash; an increase of $100,000 or 35% in the past quarter.

[smartcode_project:default project_id=3490 project_image_fid=92411]

What, you may wonder, is going on here?

Adelaide has some notable examples. Norwood is up from $505,000 to $570,000 (13%) and Prospect has risen from $380,000 to $445,000 (17%). So does Canberra, including the 12% rise from $595,000 to $665,000 in Barton.

In Sydney, the median unit price in Fairlight has leapt from $1,425,000 to $1,560,000, Freshwater has gone from $890,000 to $940,000, Double Bay is up from $1,450,000 to $1,510,000, Neutral Bay from $955,000 to $1,050,000, St Ives from $1,020,000 to $1,120,000, and Kogarah from $685,000 to $785,000 (up $100,000 or 15%). Rose Bay has delivered one of the most remarkable results: its median apartment price has increased from $1,475,000 to $1,600,000 in three months &ndash; a rise of $125,000.

Melbourne has many notable instances, including Berwick (from $530,000 to $595,000), Beaumaris ($935,000 to $1,100,000) and Albion ($375,000 to $435,000).

There are lots of examples also in regional Australia, notably on the Gold Coast, the Sunshine Coast and the Central Coast, but also in regional cities like Newcastle.

One school of thought suggests we may see more big increases in apartment prices, because buyers priced out of the housing market in their favoured locations are switching their attention to more affordable apartments.

The exponential growth in prices in the past quarter isn’t confined to the housing market – many apartment markets are also experiencing major uplift

terryryder

Many apartment markets are seeing major price increases: Hotspotting's Terry Ryder

With so much choice, searching for property can be a long and arduous process for some.

They can consume the whole of a Saturday, driving around properties, cramming through the door and spending five minutes in the property, maybe one minute with the agent in the company of others, before having to make the decision whether you want to buy.

Purchasing an apartment off the plan&nbsp;offers a different approach to property buying, through a more hands on and personable approach at the developers display suite of one of the apartments in the building.

Display suites give prospective buyers an insight as to how their apartment will look when construction is completed.

There are very different questions to ask when talking to an agent about an off the plan property purchase compared to an established property. Urban has wrapped up the top questions to ask when buying an off the plan apartment.

1. Who built the display, and will they be the same builder who will construct the development?

When buying any home, build quality is an important consideration.

The display suites are created to give prospective buyers an insights in to exactly what their apartment will look like on completion.&nbsp;

<a href="/developments/melbourne-vic?source_news_article_id=101649&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_0.jpg" width="1200" /></a>

Wiser developers appoint the builder before creating the display suite and get&nbsp;the builder to construct the space which gives buyers further peace of mind when it comes to signing on the dotted line.

Knowing the builder this early one as well helps as then you can check the builder&#39;s track record of developments within the area, or even within the state. Go and visit some of the former developments, and see how close the completed build is compared to the renders which are usually available online.

2. Any developer incentives or stamp duty savings for the apartment I&#39;m looking at buying?

One of the biggest questions - how much money can I be saving?

Agents and developers are in the best position to highlight current government incentives which could help you shave thousands off your apartment purchase.&nbsp;

There may also be limited-time developer incentives if you buy the apartment before a certain date.

3. Is there a sunset clause in the contract? And when was the last time the developer enforced it?

A sunset clause is one of the most talked about contract stipulations&nbsp;in off the plan property.

Essentially, in the contract a developer will put&nbsp;a date on completion, which usually is well past the date the developers actually think&nbsp;construction will complete.

That&#39;s because if construction isn&#39;t completed before the date, the buyer, or the developer, have the legal right to pull out of the deal, with the buyer receiving their full deposit back.

The developer doesn&#39;t want to run over this date, in case the market dropped during construction and buyers want to pull out because their apartment is now worth less than when they paid.

On the flip side, and there have been occasions when this has happened which is why buyers need to be careful,&nbsp;developers can, and&nbsp;have, purposefully ran over the construction date so they can claim the apartment back. This can be due to price rises over the same period.

The developer would have the right to take the apartment back and then sell the apartment for a higher price.

<a href="/developments/southbank-vic-3006"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_southbank.jpg" width="1200" /></a>

4. What are the strata fees, and are they fixed?

Apart from the mortgage on the apartment, strata fees are one of the biggest ongoing fees for apartment owners.

It is important to know when going in to buying an apartment what the strata fees are, and more importantly whether they are fixed or whether there are plans for them to fluctuate.

The good news for off the plan apartments buyers, compared to those buying established apartments, is that the funds in the strata kitty, generally, won&#39;t have to be used to fix issues in the building given it will have only recently have been built and will be covered by a number of insurances.

Those buying apartments in buildings that may be 40 or 50 years old are likely to see the strata fund spent on maintaining and updating the building.

5. Who have been the predominant buyers in the apartment?

If you are intending on living in the apartment you buy and you&nbsp;want to live in the same development as people&nbsp;like you, whether a young professional, down-sizer or family, ask how many apartments have sold and to which demographic.

If there have been a number of investor purchasers in the development, ask how many and why the agent thinks this is the case.

At this point it will also be worth asking what the forecasted rental yield and rental income per week estimate they are quoting. Plans might change during construction of the development and the apartment may become an investment down the line.

<a href="/developments/docklands-vic-3008"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_docklands.jpg" width="1200" /></a>

6. Can I upgrade&nbsp;my apartment?

Depending on how far out the developer is from construction, many developers are open to buyers customising their apartments.

Generally there might not be whole sale changes which are wanted to be made by a buyer. Developers who have a solid pipeline of projects tend to know what they&#39;re doing when positioning bedrooms and bathrooms etc.

It might be that you&#39;d rather the built in kitchen appliances located elsewhere in the kitchen as to what has been mocked up in the display suite.

The question is also worth asking because some developers offer extra upgrade packages which could set your apartment from the rest. Think fixed outdoor barbecue kitchens, fireplaces, built-in study nooks or an upgrade in kitchen appliances.

There&#39;s of course the potential to buy neighbouring apartments and amalgamate before they are constructed as two apartments. The amalgamation, despite costing more than just a single&nbsp;apartment, will likely become bigger than that of any of the other&nbsp;apartments in the development.

Display suites give prospective buyers an insight as to how their apartment will look when construction is completed.

What an off the plan buyer needs to ask when visiting a display suite

EXPERT INSIGHT

Ahead of the definitive official read of the economy from the treasury in the budget on <a href="https://budget.gov.au/index.htm">Tuesday</a>, the Reserve Bank has given us two special insights into its own thinking in the space of 14 hours.

They suggest that (first) the economy is improving, and (second) the bank is not going to let up on driving that improvement, not for anything &mdash; including concern about climbing home prices &mdash; until it has pushed unemployment down and wage growth back up to where it believes it should be.

The first insight was in Deputy Governor Guy Debelle&rsquo;s <a href="https://www.rba.gov.au/speeches/2021/sp-dg-2021-05-06.html">Shann Memorial Lecture</a> on Thursday night. The second was in Friday&rsquo;s <a href="https://www.rba.gov.au/publications/smp/2021/may/pdf/statement-on-monetary-policy-2021-05.pdf">Statement on Monetary Policy</a>

Growth without inflation

The statement emphasised that the although the bank expects economic growth to bounce back fairly strongly, getting inflation back within the bank&rsquo;s 2-3% target band and getting wages growth up will take much longer

As the statement put it:

&quot;Despite the stronger outlook for output and the labour market, inflation and wages growth are expected to remain low, picking up only gradually.&quot;

On one measure just <a href="https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release">1.1%</a>, the lowest on record, underlying inflation is to climb to 1.5% over the course of 2021 before gradually climbing to close to 2% by mid 2023.

It&rsquo;s well short of the bank&rsquo;s target of 2-3% which is only likely to be achieved with much higher wages growth driven by much deeper inroads into unemployment.\

Those inroads will be easier to achieve if COVID is firmly under control.

The bank explicitly linked its forecasts of an improving economy to an assumption that Australia&rsquo;s vaccine rollout accelerates in the second half of the year. It could have added to that (but didn&rsquo;t) the importance of getting purpose-built quarantine facilities up and running.

Its baseline forecast has economic growth of 4% in the year to June 2022 and 3% in the year to June 2023.

But there is a fairly wide range around its downside and upside scenarios.

Economic growth might be as low as 2.5% or as high as 5% in 2022 and as low as 2% and as high as 3% in 2023.

Similarly, the unemployment forecast is somewhere between 4.25% and 5.25% by June 2022 and in a very wide range of 3.75% and 5.5% by June 2023.

These forecasts produce below-target inflation forecasts of between 1.5% and 2% in June 2022 and 1.5% to 2.25% in June 2023.

What the bank will do to help drive the upside scenario, and what else will need to happen, was laid out by Debelle in Thursday night&rsquo;s <a href="https://www.rba.gov.au/speeches/2021/sp-dg-2021-05-06.html">Shann Memorial Lecture</a>.

The Debelle Doctrine

Adjectives like &ldquo;seminal&rdquo; are bandied about liberally these days, but for me, Debelle&rsquo;s speech on <a href="https://www.rba.gov.au/speeches/2021/sp-dg-2021-05-06.html">Monetary Policy During COVID</a> was a masterpiece.

He began by outlining the suite of measures the bank introduced from the beginning of the pandemic in March 2020. They involved

<ul>
	<li>
	cutting the cash rate to a record low of 0.25% and then cutting it again to 0.1%
	</li>
	<li>
	undertaking to not increase the cash rate target until the bank is confident that inflation will be sustainably within the 2&ndash;3% target band
	</li>
	<li>
	cutting the rate paid on private banks&rsquo; exchange settlement balances with the bank to 0.1% and then to 0.0%
	</li>
	<li>
	buying enough three-year government bonds to target a yield of 0.25%, later <a href="https://theconversation.com/5-ways-the-reserve-bank-is-going-to-bat-for-australia-like-never-before-149311">0.1%</a>
	</li>
	<li>
	guaranteeing to buy $5 billion of five-year and ten-year state and Commonwealth week-in week-out <a href="https://theconversation.com/5-ways-the-reserve-bank-is-going-to-bat-for-australia-like-never-before-149311">whatever the economic circumstances</a>
	</li>
	<li>
	buying bonds as needed to address the &ldquo;dysfunction&rdquo; in the bond market
	</li>
	<li>
	offering banks cheap lending finance through a new <a href="https://www.rba.gov.au/mkt-operations/term-funding-facility/overview.html">term funding facility</a>
	</li>
	<li>
	ensuring that the financial system has sufficient liquidity
	</li>
</ul>

Debelle methodically described how each of these measures are likely to flow through into economic activity.

That is, he articulated what economists call the &ldquo;transmission mechanism&rdquo; &mdash; how the measures work.

And then he delivered the setup for the punchline.

The tools the bank is using might affect all sorts of things, including house prices. But the bank plans to focus on just one thing &mdash; getting unemployment down until it gets inflation back up to its target band.

Then the punchline itself: the bank will do this even if it leads to higher house prices

<blockquote>
there are a number of tools that can be used to address the issue. But I do not think that monetary policy is one of the tools. Monetary policy is focussed on supporting the economic recovery and achieving its goals in terms of employment and inflation
</blockquote>

It was important to remember that while housing prices may not rise as fast without low interest rates, unemployment would definitely be materially higher without low interest rates.

Unemployment has serious consequences.

What it all means

The Debelle Doctrine is that the bank will focus on a narrow range of objectives, and will not be timid about using the tools in its arsenal to achieve them.

This may not be a seismic shift, but it is significant.

It gives the bank a much clearer focus; it gives others a much better way to judge how it is performing; and it makes clear that if the government is concerned about rising house prices, it&rsquo;ll have to do something itself (perhaps by tightening the tax rules governing capital gains and negative gearing).

Debelle produced a clear, precise, and authoritative statement of what the Reserve Bank can, should, and will do.

In a word, it was gubernatorial.<img alt="The Conversation" height="1" src="https://counter.theconversation.com/content/160171/count.gif?distributor=republish-lightbox-basic" u="" width="1" wkje2jqm7="" />

<a href="https://theconversation.com/profiles/richard-holden-118107">Richard Holden</a>, Professor of Economics, <a href="https://theconversation.com/institutions/unsw-1414">UNSW</a>

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/vital-signs-the-rba-wants-to-cut-unemployment-and-nothing-not-even-soaring-home-prices-will-stand-in-its-way-160171">original article</a>.

The RBA suggest that (first) the economy is improving, and (second) the bank is not going to let up on driving that improvement, not for anything

The RBA wants to cut unemployment, and not even soaring home prices will stand in its way: Richard Holden

Josh Frydenberg says he will bring down a &ldquo;pandemic budget&rdquo; on Tuesday, warning that despite Australia&rsquo;s strong recovery, there is &ldquo;still a great deal of uncertainty out there&rdquo;.

The Treasurer points to new strains of the coronavirus, the COVID crisis raging in India, and local lockdowns. &ldquo;We can&rsquo;t take for granted the strong economic recovery we&rsquo;ve seen. We&rsquo;ve got to lock in those gains,&rdquo; he said on Friday, speaking to The Conversation.

In measures on housing, it will increase from $30,000 to $50,000 the maximum amount of voluntary contributions aspiring home buyers can take from the First Home Super Saver Scheme.

This scheme allows people to make voluntary contributions to superannuation to save for their first home.

At present these contributions are capped at $15,000 a year and $30,000 in total.

With the rise in house prices, the current cap on the amount that can be released is a diminishing proportion of the deposit needed.

There will also be another 10,000 places added to the First Home Loan Deposit Scheme, which can only be used for new housing. This means-tested measure allows first home buyers to build a new home or buy a newly-built one with a deposit of as little as 5%.

The budget will have an &ldquo;improved bottom line, particularly in 2021&rdquo;, compared with the earlier forecasts, Frydenberg confirmed.

This will be thanks in large part to a stronger-than-expected labour market as well as high iron ore prices.

The aim of pushing unemployment down below 5% will be a central feature of the budget.

In measures on housing, it will increase from $30,000 to $50,000 the maximum amount of voluntary contributions aspiring home buyers can take from the First Home Super Saver Scheme

jordan_55689

Frydenberg promises housing breaks in 2021 budget

As national house prices continue to climb, consumers are not convinced that now is a good time to buy property, according to new research by Finder, Australia&rsquo;s most visited comparison site. &nbsp;

Finder&rsquo;s Property Positivity Index shows that the proportion of Australians who think now is a &ldquo;good time to buy&rdquo; is at its lowest ebb since lockdowns started last year.

As of May 2021, the index is sitting at 49% &ndash; only a few points higher than the pessimistic low of 42% in April 2020.&nbsp;

In December 2020, a record-high number of people (67%) said it was a good time to buy, however this figure has since dropped by 18 points.&nbsp;

Graham Cooke, head of consumer research at Finder, said that Australians&rsquo; property optimism has yoyoed throughout the past 12 months.&nbsp;

&ldquo;As lockdowns rolled out across Australia and open house inspections declined, Finder&rsquo;s Property Positivity Index nosedived only to recover again as the housing market sprang back to life.&nbsp;

&ldquo;Both the rock-bottom cash rate and FOMO have turbo-charged prices but fears of a property bubble are making many Aussies pessimistic that now is the time to buy,&rdquo; he said.&nbsp;

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Property positivity toward prices spikes

Despite fewer people thinking now is a good time to buy, approximately 74% feel that property prices in their area will continue to rise over the next 12 months &ndash; up from a low of 24% in April 2020.&nbsp;

When asked about whether prospective first-time buyers with a deposit saved may miss an affordability window if they do not purchase within the next year, Finder&rsquo;s RBA panelists were divided.&nbsp;

In total, 9 experts said they would miss out (64%), while the remaining 7 (36%) said they wouldn&rsquo;t.

Dale Gillham, stock market analyst from Wealth Within said buyers would not be missing a window.

&ldquo;This situation has been talked about since Adam was a boy and it will continue to be into the future. I have never seen a time when we thought property was cheap for anyone let alone first-time buyers,&rdquo; he said.&nbsp;

Rebecca Cassells of Bankwest Curtin Economics Centre said buyers may miss a window if they don&rsquo;t buy.

&ldquo;Increased house prices driven by significant stimulus and low interest rate environment has the potential to lock out future first home buyers by making it even harder to come up with the deposit needed to enter the market.&rdquo;

Cooke said that window of opportunity or not, there&rsquo;s been a significant turnaround in property price expectations over the past year.&nbsp;

&ldquo;The last 6 months resulted in the largest amount borrowed to buy housing in any 6-month period in Australian history. The property market really is surging back into life,&rdquo; Cooke said.&nbsp;

Finder’s Property Positivity Index shows that the proportion of Australians who think now is a “good time to buy” is at its lowest ebb since lockdowns started last year.

Consumers increasingly unconvinced to buy property: Finder Survey

The federal budget will contain a scheme designed to help 10,000 single parents get into the property market over the next four years.

The Family Home Guarantee will let 10,000 single parent families put down a deposit of only 2 per cent. The government will guarantee the other 18 per cent of the deposit.

The measure is expected to cost the federal budget just $300,000.

Housing Minister Michael Sukkar said the primary hurdle for single parents with one income was pulling together a deposit.

[smartcode_project:default project_id=29048 project_image_fid=151677]

&quot;The Morrison government believes that all Australians who aspire to purchase a home should be given that opportunity. There are few more important people in our society than single parents,&quot; he said.

&quot;We are very pleased that the family home guarantee will help single parents - of which 80 per cent are women - to purchase their home.&quot;

However, Labor&#39;s housing spokesman Jason Clare noted there are a million single parents across Australia.

&quot;This will help just 2500 of them per year,&quot; Mr Clare said.

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But the new support measure aimed at helping families into their own home would make a real difference in the lives of thousands of Australians, according to the HIA managing director, Graham Wolfe.

&ldquo;Research in 2019 found that 92 per cent of renters aspire to own their own home yet just 49 per cent of renters felt they would achieve home ownership,&rdquo; Wolfe said.

The federal budget will also contain a further 10,000 places for the First Home Low Deposit Scheme.

The federal government has revealed a new scheme for single parents to buy a house with only two percent deposit saved, with the government guaranteeing the other 18 percent

jchancellor

Single parents get encouragement from federal government to buy a home with 2% deposit

Smaller Melbourne apartments were snapped up at weekend auction by regional owners who need a city bolt hole in their post COVID work/life arrangements.

It was the case with Melbourne&#39;s cheapest weekend auction sale when $295,000 was paid for a one bedroom Carnegie apartment.

The Gary Peer &amp; Associates selling agent Graeme Callen had a price guide of $270,000 to $295,000.

&quot;With easy access to bus, tram &amp; train services, this easy-care home is the ultimate package for a first home buyer or astute investor,&quot; his marketing suggested.

However it was bought by a couple as their city bolthole for a few days a week when they work in Melbourne.

The refurbished 10/36 Moonya Road, Carnegie offering was among the 1420 weekend Melbourne auctions, with CoreLogic advising an 76 per cent preliminary success rate, slightly lower than the 78 per cent national clearance rate, led by Canberra at 85 per cent.

Houses outperformed units, with 80 percent of houses recording a sold result over the past week, compared to 71 percent of units nationally.

There was a $671,000 median unit sale in Melbourne with a 64 percent success rate.&nbsp;

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Another sale to the emerging demographic of regional owners buying city pads came when a charming one-bedroom, 1930s ground-floor Toorak garden apartment sold for $730,000.

The 3/7 Wallace Avenue apartment had a price guide of $650,000 to $715,000.

It was bought by a recent seachanger, who outbid four through Jack Edgar from RT Edgar Toorak.

It was among the 1420 weekend Melbourne auctions, with CoreLogic advising an 76 per cent preliminary success rate, slightly lower than the 78 per cent national clearance rate, led by Canberra at 85 per cent.

Nationally houses outperformed units, with 80 percent of houses recording a sold result over the past week, compared to 71 percent of units.

Smaller Melbourne apartments snapped up by regional owners as city bolthole

CoreLogic have calculated there are about 145,000 properties are available for sale around the country.

It is the lowest number since 2010. 

But new listings over the past month were the highest since the peak of the market in 2017.

Confidence was rising after eight consecutive months of national price rises, according to CoreLogic’s executive head of research.

“It has surprised me that it has taken this long for new listings to get to this above-average level,” Mr Lawless told The Australian.

“But the other thing is, it happening at a time when buyer demand is also at ­really high volumes.”

The number of home sales for the first quarter of this year was 22 per cent up on last year. 

CoreLogic calculates about 145,000 properties are for sale around the country, the lowest number since 2010. 

Residential listings at 11 year lows: CoreLogic

A 2015 apartment complex in Melbourne&#39;s Fairfield has seen keen buyer interest given their provision of study nooks.

The latest offering was snapped up in 22 days, after the marketing advised a dedicated study nook added extra work-from-home flexibility to the smart, modern apartment in the heart of Fairfield.&nbsp;

Melbourne&#39;s CBD has seen one of the slowest return to work rates among the capital cities.

The apartment is about eight kms from the CBD.

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Situated on the ground floor, there was an attractive paved and landscaped terrace off the living area in the 70 sqm apartment.

It came with an European laundry, car space and storage cage.

It was sold by Woodards agent Andrew Guarino.

The apartment last sold off the plan in 2014 at $425,850.

It was advertised in late 2017 as a $400 a week rental.

<img alt="" height="655" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nook.jpg" width="997" />

&quot;Sleek finishes paired with oak floors created an engaging living and dining domain, flooded in natural light,&quot; his marketing advised.

There was a Bosch equipped Caesarstone kitchen.

&quot;Lifestyle and location are first-class with the vibrant cafes, restaurants and shopping of Fairfield Village at your door.

&quot;There is easy access to buses and trains, with the added bonus of Fairfield Boathouse, Yarra Bend Park and bike trails within walking distance,&quot; Guarino advised.

The development application lodged with Darabin Council in 2013 sought 35 apartments comprise 14 one-bedroom and 21 two-bedroom dwellings, and 33 car parking spaces in the basement.

The four storey complex replaced two Edwardian era homes.

The $508,000 sale was at 3/62-64 Station Street 

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