Bridgewell Capital and SLD Development seem to be bullish on the Killara apartment market, filing plans for a second new development next to the Killara Golf Club.

The new plans are for 79 apartments across an amalgamated 4,989 sqm site on Buckingham Road.&nbsp;The project has been designed by BKA Architecture and is being assessed under the NSW Government's Low and Mid-Rise Housing and Infill Affordable Housing reforms. It is just 300 metres from&nbsp;Killara train station.

The majority of the apartments are three-bedrooms (46), with 23 two-bedroom apartments, seven one-beds, and three four-bedroom apartments. 17 of the apartments&nbsp;are proposed as affordable housing, representing 15 per cent of the project's gross floor area, allowing the development to access additional floor space and height incentives available under the NSW Housing SEPP.

There will be 131 resident and visitor car spaces, and more than&nbsp;1,450 sqm of communal open space. Landscaped areas would account for approximately 45 per cent of the site.

<img alt="Killara" data-entity-type="file" data-entity-uuid="75ef5ef7-a53b-4932-a8f1-38f63169eec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-24%20at%2011.04.00%E2%80%AFAM.png?VersionId=d_lG1A1StDaMQilljy25Fr8SF1BnAmKE" />

The site currently contains three detached dwellings and occupies a prominent position on the eastern side of Buckingham Road, with frontage to an area that has already begun transitioning towards higher-density housing. Existing apartment buildings of up to six storeys surround the site, while the Killara Golf Club forms its southern boundary.

The application has been lodged as a State Significant Development due to the affordable housing component and the scale of the project.

According to the design report, the proposal has been shaped by the area's evolving planning framework, which is encouraging greater housing density around transport infrastructure.

"The site sits along a growth area anticipated to undergo transformation in line with broader trends across New South Wales, driven by the implementation of the Low and Mid-Rise and Transport-Oriented Development State Housing Policies," the report states.

"Being within 800 metres walking distance to Killara Train Station, the project seeks to provide high-quality apartments designed for various family sizes, located in a vibrant landscaped setting."

The Upper North Shore suburb has become one of the most closely watched testing grounds for the NSW Government's housing reforms. A number of developers have moved quickly to consolidate sites around railway stations across suburbs including Killara, Lindfield, Gordon and Roseville, where the new planning settings are creating opportunities for apartment developments that would previously have been difficult to achieve.

The likes of Aqualand, Hyecorp, Holdmark and Vermont Property Group have projects in the region.

Bridgewell has several developments in the pipeline. Last September they submitted plans for <a href="https://www.apartments.com.au/news/nsw/bridgewell-capital-seeks-55-apartment-project-in-killara">55 new apartments</a> at&nbsp;23-25 Lorne Avenue in Killara, just the other side of Regimental Park from their new project. In May they filed for <a href="https://www.apartments.com.au/news/nsw/first-look-bridgewell-plots-120-apartments-and-childcare-centre-in-maroubra-town-centre">120 apartments in Maroubra</a>.

&nbsp;

&nbsp;

&nbsp;

Joel Robinson

First look: Bridgewell, SLD Development double down on Killara Golf Club

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

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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Over the most recent four week period, the number of new listings added to the market has remained somewhat subdued with the traditional slow-down in listings experienced each year around Easter still included in the four week reporting period.
The number of new residential property listings are broadly still lower than they were one year ago. Across the combined capitals, 24,535 new listings were added to the market over the four weeks ending 26 April 2015, -4.8% lower than the 25,785 added at the same time last year. Nationally, new listings are -8.9% lower than last year, with 40,688 new homes advertised for sale over the most recent four weeks (3,952 fewer than last year).
As a result of the new stock that has been added to the market, the total number of residential properties currently available for sale across the combined capitals is 99,270 and 241,647 properties nationally. While the total stock levels for the capital cities are lower than at the same time in 2014 (-3.9%), the number of properties available Australia-wide is trending closer to the 2014 levels, with -2.2% fewer residential properties available for sale, however, this number is largely being driven by re-lists, rather than new listings.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/ListingsTable.jpg" rel="wp-prettyPhoto[g4596]"><img class="aligncenter size-full wp-image-4598" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/ListingsTable.jpg" alt="ListingsTable" width="1184" height="263"></a>
Melbourne, Brisbane and Adelaide are each seeing more new listings come onto the market than at the same time last year however, unlike Brisbane and Adelaide, Melbourne’s total stock available for sale is currently lower than it was at the same time last year.
In each other capital city, the number of residential properties entering the market is lower than over the comparable four week period at the same time last year. Despite Sydney’s current strong performance in terms of capital growth, stock levels across the city are much lower than what has been observed historically.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/CC-graph.jpg" rel="wp-prettyPhoto[g4596]"><img class="aligncenter size-full wp-image-4597" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/CC-graph.jpg" alt="CC graph" width="1275" height="485"></a>
Across the states and territories, total available stock levels are higher than at the same time last year in Queensland (66,158 compared to 63,773 last year), South Australia (17,227 compared to 16,954 last year) Western Australia (34,993 compared to 34,328 last year), Northern Territory (1,942 compared to 1,500 last year) and the Australian Capital Territory (2,194 compared to 2,067 last year), while in New South Wales, Victoria and to a lesser extent, Tasmania, the number of residential properties currently listed for sale is lower than over the comparable period 12 months ago.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/National-graph.jpg" rel="wp-prettyPhoto[g4596]"><img class="aligncenter size-full wp-image-4599" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/National-graph.jpg" alt="National graph" width="1264" height="481"></a>
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Post-Easter new listings continue to slow: CoreLogic RP Data

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GUEST OBSERVATION
Australia has been an attractive destination for international investors attracted by the higher yields prevailing. Quantitative easing in the US, Japan and now Europe has meant yields globally are low. International investors attracted by Australian yields have contributed to the higher housing prices in Australia.
In Australia, capital appreciation of residential property will be constrained over the next several years reflecting housing affordability constraints, concerns about unemployment and reduced international investment capital flows.
Quantitative easing in the US ended in 2014 and interest rate increases are now foreshadowed later in 2015, which will reduce the relative attraction of Australian investments.
In Chart 1 is shown the rate of appreciation in Australian residential property over 15 years to 31 December 2014.
Chart 1 – Residential property appreciation
<img src="/images/2015/04/27/atch-april-27-one.jpg" alt="">
Source: REIA (2015), Atchison Consultants (2015) 
The rate of appreciation peaked in June 2014.
Housing affordability levels indicate prospectively weaker demand for residential property. In Chart 2 is shown the growth in housing debt to income over the past seven years to 31 December 2014, over the period of major falls in interest rates.
Chart 2– Housing Debt to Income
<img src="/images/2015/04/27/atch-april-27-two.jpg" alt="">
ABS (2015) Atchison Consultants (2015)
Housing debt has risen significantly since mid 2012.  The ratio of housing debt to income is at a record high of 140.3% of income at 31 December 2014.  The drive from lower interest rates increasing debt levels, which in turn will finance residential property purchases, will be tested.
A study by the HIA pointed to an increase in house price to income ratio, further highlighting housing affordability concerns.
The Australian economy is in transition from the mining boom reflected in an increase in unemployment levels over the last two years.  Despite this rise in unemployment, house prices have increased.  This has been driven by purchases by foreign investors, primarily from Asia.
Slower Australian economic activity indicates that the unemployment rate may rise and consequently demand for residential property may be lower.
Binesh Seetanah is an analyst at <a href="https://atchison.com.au/" target="_blank">Atchison Consultants</a>.
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Subdued capital growth in residential property market: Binesh Seetanah

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The five capital city aggregate of CoreLogic RP Data's daily home value index continued to rise during April, just days before the next formal update.
<img src="/images/2015/04/27/Picture%2057.png" alt="">
Source: CoreLogic RP Data
The combined five capital home values are up 8.2% from last year, after a 4.0% increase in 2015 so far.
<img src="/images/2015/04/27/Picture%2058.png" alt="">
Source: CoreLogic RP Data
Sydney is leading the charge, with home values up 6.8% since 1 January, and 14.1% annually.
The next closest is Melbourne with 4.8% growth since January.
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Five capital city CoreLogic RP Data's daily home value index continues to climb

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Mirvac has established a crowdfunding-based property investment scheme.
Wholesale investors in the VentureCrowd Property platform will invest in Mirvac's apartments in Sydney.
An apartment in its Moreton complex under construction near Bondi Beach has been included for investment on the platform, and another apartment in the Chevalier apartment building at its Harold Park complex at Glebe.
The platform is being supported by Artesian Capital.
The new platform, known as VentureCrowd Property offers wholesale investors a chance to invest in Mirvac properties from $100 plus.
Crowdfunding is an emerging method of raising funds, in which individuals can invest in a venture by submitting funds through an online platform open to anyone across the internet.
The new model could also provide an alternative funding source for large developments, Artesian Capital managing director Jeremy Colless said.
VentureCrowd Property will allow investors, and ultimately retail investors, to build diversified property portfolios without the financing and property management hassles, or having to deal with real estate agents and conveyancing firms.
“We expect to see legislative changes in 2015 which will allow crowdfunding investment opportunities to be extended to retail investors, particularly as rising property prices make it more difficult for younger investors to enter the market,” said Jeremy Colless.
"As part of our mandate to innovate we have agreed to provide two apartments from our popular Sydney projects to the trial, enabling us to better understand the ins and outs of crowdfunding," said John Carfi, CEO Residential Development, Mirvac Group.
Investment experts VentureCrowd forecast the investment method is expected to be worth US$250 billion in the US within the next five years.
Since VentureCrowd’s equity crowdfunding platform was launched in 2013, sophisticated investors have invested more than $2 million in high-growth tech companies, fast-tracking growth in companies such as Ingogo, Fame &amp; Partners, Posse/Beat the Q and CrowdMobile.
“The VentureCrowd platform has proven to be a compelling alternative capital raising solution for seed and later stage high-growth companies,” Colless said.
“We are now expanding the platform to encapsulate the much larger property market.”
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Mirvac Bondi Beach and Harold Park apartments in wholesale investor crowd funding initiative 

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QBE has released its latest survey findings on the state of property and mortgages in Australia which highlights the view that property was increasingly becoming substantially overvalued.
Since the February 2015 interest rate cut, the appeal of residential property has increased, the QBE Barometer 2015 found.
More than half (56%) of respondents think property prices will continue to rise in the next 12 months and only 23% think prices will fall.
Housing unaffordability remains an increasing concern for those intending to purchase real estate in the next five years.
"Intenders believe housing prices are at least somewhat overvalued (59%) and that affordability will worsen (47%).
However intenders also perceive it is more important to get into the property market now (53%) than to wait to save a bigger deposit (20%), suggesting property purchases may be being brought forward in the belief housing will become more expensive.
A very high percent of respondents have an increasing concern that foreign investment is boosting property prices.
Intending property purchasers are troubled about foreign investment in residential property, with two thirds (69%) concerned it will make property unaffordable (vs. 64% in June 2014 and 58% in May 2013).
Those in Sydney are the most concerned (76%).
Click charts to open in new window:
<a href="/images/2015/04/28/sent-april-28-six.jpg" target="_blank"><img src="/images/2015/04/28/sent-april-28-six.jpg" alt=""></a>
<a href="/images/2015/04/28/sent-april-28-seven.jpg" target="_blank"><img src="/images/2015/04/28/sent-april-28-seven.jpg" width="1094" height="653"></a>
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Increasing concern that foreign investment is boosting property prices: QBE survey

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The beachcomber Robbie Griff has sold his Tamarama house.
The former Fiasco disco operator secured $4,005,000 for the Kenneth Street non-beachfront holding.
It cost $620,000 in 1994 when bought by the now Gold Coast based Griff.
It was offered through Hamish Robertson at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-tamarama-nsw-2026/252397" target="_blank">McGrath Estate Agents</a> in conjunction with Agency by Alison Coopes.
Set between two beaches, this spacious residence was marketed as set for being renovated or redeveloped.
It was a 452 square metre north-to-rear land with R3 Medium Density zoning, one of only seven properties in the street not yet developed.
A second story would capture spectacular beach and ocean views.
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Robbie Griff sells in Tamarama

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Darwin houses have the highest median time on market of those in any capital city, according to CoreLogic RP Data.
Houses in the Northern Territory capital were on the market for a median of 94 days, with an average vendor discount of 6.6%.
By contrast, Sydney houses had a median time on market of 26 days, with an average vendor discount of 4.5%.
Click charts to open in new window:
<a href="/images/2015/04/27/Picture%2053.png" target="_blank"><img src="/images/2015/04/27/Picture%2053.png" alt=""></a>
Source: CoreLogic RP Data
For houses, Hobart had the highest average vendor discount, at 7.4%.
<a href="/images/2015/04/27/Picture%2054.png" target="_blank"><img src="/images/2015/04/27/Picture%2054.png" alt=""></a>  
Source: CoreLogic RP Data
In the unit market, the Tasmanian capital highest average vendor discount, at 6.7%, and the highest median time on market, at 97 days.
<a href="/images/2015/04/27/Picture%2051.png" target="_blank"><img src="/images/2015/04/27/Picture%2051.png" alt=""></a>
Source: CoreLogic RP Data
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jrichardson-uRX5hFdKfN

Hobart and Darwin topping vender discounting and time on market: CoreLogic RP Data

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For much of the past two years we have seen a great deal of hand-wringing and uncritical reporting of ABS first home buyer figures, with countless media articles noting the apparent disappearance of first time buyers due to their being crowded out of the market by greedy Baby Boomer speculators.
It has been a compelling narrative, to be sure, but has been shown either to be a partial misunderstanding of market dynamics by theorists, or a prolonged exercise in confirmation bias.
As documented here and elsewhere many times previously, first time buyers never really disappeared.
What can be said is that over recent times the marginal buyer of property in our largest capital cities has altered significantly.
Anyone who works in the Sydney property market would know that many of those so-termed "speculators" have in fact been first time buyers themselves, oftentimes choosing to buy an investment property as their first step on the housing market ladder.
I cannot realistically speak for the Melbourne market being an infrequent visitor south of the border, but can only imagine that similar trends have been playing out there.
If you want to reduce the argument to semantic debate, you might say that first time investors are not buying "homes", but, whatever, they never went on strike.
The most populous cities have also being our strongest property markets, so for those listening to the data then the conclusions should have been obvious enough.
Theorists schooled by NAB data
The latest <a href="https://business.nab.com.au/wp-content/uploads/2015/04/Quarterly-Australian-Residential-Property-Survey-Q1-2015-PDF202KB.pdf" target="_blank">NAB residential property survey</a> for Q1 2015 was released last week.
It confirmed that more than a quarter of established properties continue to be purchased by a combination of first home buyers (15.8% in Q1 2015, down from 16.1% in Q4 2014) and first time investors (making up 10% of purchases).
 <img src="https://2.bp.blogspot.com/-979URyOQ_HU/VT4KFx5oxdI/AAAAAAAAU4o/hfdfjzgW0e4/s1600/FHBs.jpg">
 
Source: NAB
Trends in new residential property developments were once again broadly similar, with first timer buyers also accounting for around a quarter of sales.
Even more damningly a recent Domain survey found that 16% of "Gen Y" folk own two or more properties, which is almost as high a share as the "Gen Xs" (17%), or even the Baby Boomer generation who had apparently locked them out of the market (17%).
So much for the greedy old farts "devouring their young"!
It has rather more been a case of dog eat dog, or what is otherwise known as a "market".
This merely underscores the fallacy of dividing up Australia into convenient generational groups and stereotypes.
In the real world there are at least two score and 10 shades of grey, and markets are infinitely more complex and granular.
What this means...consequences?
There was also a theory doing the round some years ago that the disappearance of the first home buyer could cause the property markets to collapse in upon themselves, as the base of the real estate pyramid dissipated.
This has not proven to be the case - at least, not yet - with many first time investors favouring lower priced property with its more affordable entry points and potentially stronger yields.
However, these shifts being seen in our capital city markets may yet have unforeseen consequences.
First and foremost, the increased roles of the investor and the first-time investor have the potential to amplify the property market cycles, both on the way up and on the way down.
Who and what drives prices?
It has long been argued that unemotional and calculating investors don't push up property prices, while emotion-driven home buyers do.
There was probably an element of truth in this in times past.
Certainly it can be said that countries with high home ownership rates have also historically been more prone to boom-bust cycles, for where the status of home ownership is considered to be an essential, would-be buyers can on occasion stretch themselves to extreme lengths.
However, the first hand evidence I have seen tells me that investors today can push home prices higher just as much as home buyers can.
Why would a rational and calculating investor be prepared to bid high for a property?
Simply because within an illiquid market it may be another month or three before they have a further opportunity to buy, and in a hot or rising market environment they may fear paying $5,000 more for the privilege of so doing.
Downturn phases
A greater number of investors in the market could amplify the downturn phase of the property cycle too with some investors inclined to dash for the exits when prices are declining.
In reality, trading property frequently as is so often recommended by investment advisers and property writers is highly impractical due to prohibitive transaction costs, and a large number of investors instead look to adopt a long term buy and hold approach.
Greater volatility is most likely to be experienced in smaller property markets where volumes are thin, and indeed we have already seen some extreme examples in certain mining towns.
<a href="https://petewargent.blogspot.com.au/2013/11/planning-land-prices-and-house-prices" target="_blank">Experienced</a> housing market economists have long recognised that the larger property markets can often be more stable and far less impacted by increases in supply - even dramatic increases in supply.
The property markets of Melbourne have been an excellent case in point, refusing to crash despite an oversupply of experts insisting that they must, due to overbuilding and an excess of high rise stock.
Another trend which we might expect to see is that of a shorter market cycles, particularly in this modern era of instant gratification.
Perhaps to a certain extent this is already true, with Australia having experienced a number of mini-cycles over the past decade.
That said, this is likely also in part illusory, with the ebbs and flows of property cycles in times past masked by an economy which was off to the inflationary races.
In today's era of low interest rates and low inflation we should expect to see property prices falling in nominal terms far more frequently than was ever the case in times of higher or even raging inflation.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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pwargent-M4siyDbqQY

NAB survey debunks first home buyer strike: Pete Wargent

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As a result of the Anzac Day commemorations on Saturday, which is traditionally the busiest day for auctions, it was a quiet week for auction activity.
There were 550 auctions held across the combined capital cities this week, with a preliminary auction clearance rate of 84.3%. While this is the highest auction clearance rate on record, it is likely that the clearance rate will revise down as the remaining auctions are reported.
Last week, a clearance rate of 78.9% was recorded across 2,603 capital city auctions. At the same time last year, auction volumes were higher than this week, but still low off the back of Easter, with 881 properties taken to auction and a clearance rate of 64.6%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Capital-City.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4543" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Capital-City.jpg" alt="20150426 Capital City" width="974" height="738"></a>
In Melbourne, Australia’s largest auction market, a preliminary auction clearance rate of 87.4% was recorded across 169 auctions this week. Last week, Melbourne’s final clearance rate was recorded at 79.5% across 1,266 auctions, while this time last year, 373 properties were taken to auction across Melbourne and a clearance rate of 63.0% was recorded. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 27 and 26 auctions were held respectively.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Melbourne.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4544" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Melbourne.jpg" alt="20150426 Melbourne" width="978" height="661"></a>
Sydney’s preliminary clearance rate this week was 91.9% across 192 auction results. There were a total of 249 auctions held across the city. Excluding this week, last week’s clearance rate of 87.0% across 988 auctions was the highest clearance rate on record for the city. It will be interesting to track this week’s final auction clearance rate once the remaining results have been reported.
Looking back at this weekend last year, 361 auctions were held across Sydney and a clearance rate of 71.3% was recorded. Sydney’s Eastern Suburbs hosted the most auctions of any Sydney sub-region this week, with 62 properties taken to auction. The preliminary clearance rate for the region is 95.7% across 47 results.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Sydney.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4545" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Sydney.jpg" alt="20150426 Sydney" width="982" height="667"></a>
There were 39 Brisbane auctions this week and so far 11 results have been reported, with 10 sales. Last week, auction volumes across the city were much higher with 140 auctions held across the city and a 46.4% clearance rate recorded.
Much like Brisbane, the number of homes taken to auction this week fell across the Gold Coast with 32 properties up for sale this week. Of the 21 results reported, just over half (52.4%) were successful.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Brisbane.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4547" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Brisbane.jpg" alt="20150426 Brisbane" width="981" height="650"></a>
A total of 59 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 55.0% across 20 results, down from 69.7% last week when 97 auctions were held across the city.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Adelaide.jpg" rel="wp-prettyPhoto[g4541]"><img class="aligncenter size-full wp-image-4546" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/20150426-Adelaide.jpg" alt="20150426 Adelaide" width="978" height="655"></a>
In Perth, just 10 auctions were held this week. So far, only 2 successful sales have been reported to CoreLogic RP Data. Last week, the final auction clearance rate for Perth was 28.6% across 36 auctions.
Canberra’s clearance rate was 78.6% this week, up from 65.6% last week.
There was only 1 Tasmanian auction held this week. The property was reported as sold.
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Auction volumes drop due to Anzac Day commemorations: Shana Miller

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Climbing home prices in Melbourne and Sydney have resulted in declines in Moody's home affordability measure despite low interest rates. Moody's also noted Melbourne and Sydney's "problematic" large loan sizes.
Households across Australia needed to use 27% of their income, on average, to make home mortgage repayments. The same ratio was recorded in March last year.
Click charts to open in new window:
<a href="/images/2015/04/27/moodys-april-27-one.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-one.jpg" alt=""></a>
In Sydney, however, households are using 35.1% of their income to make their mortgage repayments. In March 2014, Sydney households were putting 32.8% of their income towards their mortgage. March 2015's result is also higher than the city's 10 year average of 33.6%.
<a href="/images/2015/04/27/moodys-april-27-two.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-two.jpg" alt=""></a>
In Melbourne, mortgage affordability has also declined, with the share of income needed to make mortgage repayments increasing to 28.2% in March this year from 27.5% at the same time last year.
The Moody's Australian Housing Affordability Measure has remained constant on a national level, in part due to low interest rates. In Perth, affordability measures improved, due to declining home price, with the measure decreasing from 24.6% to 21.9%. Moody's noted Perth's exposure to falling commodity prices in its report.
The report called the affordability deterioration in Melbourne and Sydney "credit negative for new mortgage loans from these cities".
"The larger loan sizes and repayment obligations of new mortgages in Sydney and Melbourne are especially problematic since these mortgages are being underwritten at historically low interest rate," the report reads, noting an average Australian standard variable mortgage rate of 5.65%, while the 10-year average is 7.18%.
"Our forecast is for the RBA to cut the official cash rate - a key determinant of mortgage interest rates - by a further 25 basis points to 2% in 2015.
"However, borrowers who took out loans at historically low interest rates are at a greater risk of not being able to afford repayments when interest rates eventually rise.
"By contrast, mortgages underwritten at higher interest rates pose lower risk when interest rates rise, because borrowers' ability to service these loans has been assessed at higher interest rates."
Although there has been pronounced price increases in Melbourne and Sydney over the past two years, income growth has remained "modest", writes Moody's.
<a href="/images/2015/04/27/moodys-april-27-three.jpg" target="_blank"><img src="/images/2015/04/27/moodys-april-27-three.jpg" alt=""></a>
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