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;

Joel Robinson

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

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

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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Not The Block again hopefully!
An investor has paid $2,735,000, on a sharp 3.62% yield, for a fully leased, four level, apartment block at South Yarra in Melbourne’s inner east.
It was sold by Savills Australia.
There were six bidders for the 6-8 Mona Place property.
It comprises a strata-titled block of six, one bedroom, 62 to 68 square metre, apartments on a 323 square metre site zoned General Residential.
The property was sold fully leased to six tenants at a combined rental of $99,072 per annum. Rents for one bedders sit around $330 a week, having been at $130 a week in the mid-1990s.
Jesse Radisich said the marketing campaign had attracted more than 150 enquiries from potential purchasers and 30 personal inspections from local and off-shore investors and self-managed super funds.
There has been a <a href="/expert-insights/building/sydney-audiences-shun-the-blocks-lengthening-melbourne-residency">marked deterioration in Sydney metro viewers</a> for the latest series of The Block. Let's just hope this purchase isn't a continuation of the show's lengthening Melbourne residency. 
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jchancellor-FAypfDUnLy

Six compete for South Yarra strata apartment block sold on 3.6% yield

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Louis Chrisopher, SQM Research's managing director, had the most bullish Sydney 2014 forecast.
In late 2013, Christopher predicted that Sydney's prices would rise <a href="/expert-insights/buying/sydney-to-jump-up-15-20-act-to-fall">15%-20% over the 2014 calendar year</a>.
While prices weren't that strong, he was closest to the pin, now that the annual figure are in.
Other experts were notably more subdued, with many tipping that prices would slow significantly in 2014: Domain Group senior economist Andrew Wilson and Property Observer's <a href="/news/slowing-home-price-growth-sydneys-tentative-early-2014-capital-city-trend">Jonathan Chancellor</a> both predicted 2013's growth would halve to around 7%. Observer Pete Wargent tipped Sydney prices to increase by 6% to 9%. McGrath Estate Agent founder John McGrath <a href="/expert-insights/buying/john-mcgrath-lowers-his-2014-sydney-forecast-to-5-8-price-growth">downgraded his 2014 Sydney forecast </a>from 10% to 5-8% in June.
We now know that Sydney recorded around 12.4% price growth in 2014 across all dwellings, according to CoreLogic RP Data. House prices were up 13.4% to $858,000, while unit prices increased by 8.3% over the year to $615,000.
The median house price for Sydney is now $873,786, after a 14% rise in prices during 2014, according to Fairfax's The Domain Group.
Christopher's confidence in the Sydney market remains, particularly given the Reserve Bank's February announcement that it would cut rates by 25 basis points to a record low of 2.25%.
"We believe Tuesday's interest rate cut will further stimulate the Sydney housing market through the full calendar year 2015," Christopher told Property Observer.
"Our forecast for this current year, made back in September 2014, would be a rise of between 8-12%.
"This assumed a stable interest rate environment. With this rate cut we believe the market will now likely increase by the upper end of this range.
"Sydney on top of the 30% gains we have had since the start of 2013 will mean the market may well be up by over 50% in Sydney in just three years."
His price prediction is once again more bullish than those made by many of his contemporaries. Wilson this year has forecast 7-10% growth, while NAB's Residential Property Survey respondents predict 4.1% gains. Wargent has pitched his forecast slightly lower than last year, this time predicting <a href="https://petewargent.blogspot.com.au/2014/12/2015-capital-city-property-market" target="_blank">5-8% price growth in 2015</a>.
Whether yesterday's rate cut will cause experts to revise their forecasts remains to be seen. Meanwhile, the <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a> founder's confidence is not reserved for just the Sydney market:
"We are also rather bullish now on holiday locations on the east coast of Australia given that the lower Australian Dollar should further assist local tourism economies," Christopher said.
 {mijopolls 86}
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jrichardson-uRX5hFdKfN

Bullish Louis Christopher forecasts strong gains for Sydney in 2015

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A few weeks agowe highlighted that the number of dwellings approved for construction reached an all-time high over the year to November 2014 with almost 200,000 approvals registered nationally. 
<a href="https://blog.corelogic.com.au/2015/01/record-high-number-dwelling-approvals-november-2014/" target="_blank"> Over the year house approvals were up 3.6%</a> compared with an 18% increase in the number of multi-unit dwellings approved.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Chart-1.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-full wp-image-4147" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Chart-1.jpg" alt="Chart 1" width="500" height="181"></a>
The record level of housing supply in the pipeline comes at a time when population growth (ie housing demand) is winding down and some of the heat is coming out of the housing market.
A deep dive on the Australian Bureau of Statistics approvals data pinpoints exactly where the bulk of the development pipeline from the past year is geographically concentrated. 
At a broad level we can see the majority of new dwelling approvals are located in Melbourne where 44,633 new dwellings have been approved for construction over the 12 months ending November 2014.  Melbourne dwelling approvals accounted for 23% of all approvals nationally and 31% of all approvals across the combined capital city metro areas.
Sydney was close behind, recording just over 39,000 new dwelling approvals over the year.  67% of all approvals across the Sydney market were for multi-unit dwellings (the highest proportion of apartments approved of any capital city).
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-national-approvals-across-cap-city-and-ros-regions.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4199" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-national-approvals-across-cap-city-and-ros-regions-580x399.jpg" alt="Table - national approvals across cap city and ros regions" width="580" height="399"></a>
While new housing supply should generally be viewed as  positive and a necessary factor in the Australian housing market and economy, areas where the approved supply pipeline are out of alignment with demand can offer up an element of risk. 
We recommend that prospective buyers factor supply levels into their housing market analysis and undertake additional research where they fear an area may be in oversupply or at least moving in this direction. 
The number of multi-unit dwellings, particularly in Melbourne and Brisbane are hovering around record highs.  Of course demand for this type of product is increasing but there are risks associated with too much new development of this product type, particularly given values are rising and population growth is slowing.
Eight of the top 20 SA3 regions, based on the number of dwelling approvals over the year to November 2014, are located in Melbourne; five are located in Perth, four in Sydney, two in Brisbane and one in Canberra.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-National-top-20.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4208" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-National-top-20-580x400.jpg" alt="Table National top 20" width="580" height="400"></a>
 
A state by state rundown on new housing supply begins on the next page. Please click below.
<hr class="system-pagebreak">
The tables and maps below highlight exactly where the largest amount of new housing supply is in the pipeline.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Sydney2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4198" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Sydney2-580x351.jpg" alt="Sydney2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NSW.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4201" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NSW-580x276.jpg" alt="Table NSW" width="580" height="276"></a>
Seven of the top ten SA3 regions showing the most dwelling approvals across Sydney have a strong bias towards multi-unit dwellings, with the Inner Sydney region topping the list at 2,631 new apartments approved over the twelve months to November 2014. 
Within the inner city region it is the Waterloo-Beaconsfield area that is attracting the most developer interest.  These suburbs account for 1,047 (or 41%) of the apartments being developed across the Inner Sydney SA3 region.  Several areas around Sydney’s inner ring are attracting very little in the way of densification over the past year. 
The Manly region has only recorded 48 new dwelling approvals over the past year and similarly, Leichardt has recorded only 65 new dwelling approvals.  Towards the outskirts of the city, the regions attracting the largest supply pipeline are Parramatta (1,558 new unit approvals over the past year and 119 house approvals) as well as the Bringelly-Green Valley region which is seeing an influx of new detached housing approvals (1,449).
 
<hr>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Melbourne2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4196" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Melbourne2-580x351.jpg" alt="Melbourne2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Vic.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4206" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Vic-580x281.jpg" alt="Table Vic" width="580" height="281"></a>
Melbourne’s inner city tops the nation with the majority of new dwelling approvals, recording just over 5,000 new apartment approvals over the past year. 
The high approval reading comes after 3,725 apartments were approved in the same region over the previous year as well as 5,419 the year before that.  More than half of last year’s approvals across the Melbourne Inner City were located in the Melbourne CBD (2,418) followed by North Melbourne (682) and Docklands (657). 
Outside of the inner city, the majority of new dwelling approvals across the Melbourne metro area have been located in the outer fringes and are primarily detached dwellings.  The Whittlesea-Wallan region has recorded the second highest number of Greater Melbourne dwelling approvals over the twelve month period at 2,956 of which 83% were detached dwellings. 
The data shows that the densification taking place in the Melbourne housing market is very much focussed within the inner city core.
 
<hr>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Brisbane2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4192" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Brisbane2-580x351.jpg" alt="Brisbane2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Qld.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4203" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Qld-580x286.jpg" alt="Table Qld" width="580" height="286"></a>
The Brisbane Inner North SA3 region has recorded the third highest number of new dwelling approvals of all SA3 regions nationally over the 12 months to November 2014.  2,981 new apartment approvals were recorded over the year and 117 house approvals. 
The suburbs of Bowen Hills and Newstead comprise the majority of these approvals with 1,535 new apartments approved for construction over the twelve month period. 
The Inner City region also recorded a high number of multi-unit dwelling approvals, with 1,881 new apartments approved for construction over the year. 
Outside of the state capital, the regional city of Townsville recorded the third highest number of dwelling approvals across the state over the twelve month period, with 1,228 houses and 410 apartments. 
Interestingly, the resource-intensive regions of Mackay and Gladstone-Biloela, where market conditions have softened substantially, have also made it into the top ten for the state for new dwelling approvals over the year.
 
<hr>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Adelaide2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4191" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Adelaide2-580x351.jpg" alt="Adelaide2" width="580" height="351"></a><a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Perth2.jpg" rel="wp-prettyPhoto[g4190]"> </a><a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-SA.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4204" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-SA-580x285.jpg" alt="Table SA" width="580" height="285"></a>
Slightly less than one third (31.3%) of all new dwelling approvals across Adelaide were for multi-unit dwellings over the twelve months ending November 2014, with the city having a clear preference for detached dwellings. 
The largest supply pipeline, based on approvals over the twelve month period, can be found in Onkaparinga where 1,103 new dwelling approvals were issued over the year.  Most of the approvals were at Seaford (418), Aldinga (164) and Christies Beach (132). 
The Charles Sturt region was the only other SA3 in South Australia to record more than 1,000 approvals over the year.
Article continues on the next page. Please click below.
 
<hr class="system-pagebreak">
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Perth2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4197" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Perth2-580x351.jpg" alt="Perth2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-WA.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4207" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-WA-580x284.jpg" alt="Table WA" width="580" height="284"></a>
At a time when the Perth housing market is slowing down, new dwelling approvals have moved to historic highs. 
The SA3 region of Wanneroo ranks as number two nationally for dwelling approvals, with 3,406 new homes approved for construction over the twelve months to November 2014.  
The Swan region ranked second highest across Western Australia and 8th nationally with 2,557 new dwelling approvals.  The urban form of Perth housing continues to be mostly focussed on detached housing, with only 23% of new dwelling approvals being for multi-unit dwellings (only Hobart shows a lower proportion at 11%). 
With home value growth slowing and both sales volumes and rents falling, buyers of new homes, particularly if they are buying for investment purposes, should be cautious.
 
<hr>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Hobart2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4195" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Hobart2-580x365.jpg" alt="Hobart2" width="580" height="365"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Tas.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4205" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-Tas-580x277.jpg" alt="Table Tas" width="580" height="277"></a>
Despite recording the lowest number of dwelling approvals of any state or territory over the twelve months ending November 2014, dwelling approvals across Tasmania have been trending higher to reach their highest point since early 2012. 
The most significant level of approval activity over the twelve months to November last year was located in the north of the state at Launceston where 329 dwellings were approved for construction.
 
<hr>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Darwin2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4194" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Darwin2-580x351.jpg" alt="Darwin2" width="580" height="351"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NT.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4202" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-NT-580x261.jpg" alt="Table NT" width="580" height="261"></a>
58% of Darwin dwelling approvals over the twelve months to November 2014 were for multi-unit dwellings, the highest proportion of apartment approvals outside of Sydney. 
The largest development pipeline, based on dwelling approvals over the twelve month period, was at Palmerston with 818 new dwelling approvals a majority of which were units.
 
<hr>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/canberra2.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4193" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/canberra2-580x366.jpg" alt="canberra2" width="580" height="366"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-ACT.jpg" rel="wp-prettyPhoto[g4190]"><img class="aligncenter size-large wp-image-4200" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Table-ACT-580x269.jpg" alt="Table ACT" width="580" height="269"></a>
The annual number of dwelling approvals has been trending lower across the Australian Capital Territory since early 2014 as housing market conditions broadly soften across the national capital. 
The Gungahlin region remains the most popular location for dwelling approvals across the Territory, with 2,160 new dwelling approvals over the twelve month period ending November last year. 
That figure is almost three times higher than the next most popular SA3 location, Cotter-Namadji, where 762 dwellings were approved for construction.
Buyers and developers of new stock should be cautious given that values, sales volumes and rental rates are currently falling in Canberra.
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tlawless-5VLUrbAk9s

Where are the housing supply pipelines? A state by state rundown

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It's a major statistical revision: first home numbers are up 25%. 
The most recent data shows the ABS originally recorded 6,061 homes bought in November by first timers, reflecting 11.6% of all loans.
The number has now been revised to 7,627, or 14.6% of total loans, a 25.86% increase.
The ABS has been forced to republish its monthly statistics relating to first home buyers in Housing Finance, Australia.
Click to open in new window:
<a href="/images/2015/02/04/chart-feb-4-twelve.png" target="_blank"><img src="/images/2015/02/04/chart-feb-4-twelve.png" alt=""></a>
Source: Australian Bureau of Statistics
<a href="/expert-insights/finance/rba-awaits-abs-first-home-buyer-data">Fairfax Media columnist Michael Pascoe</a> was among the first to suggest the under-reporting by the ABS last June after the RBA dropped their usage of the data.
I wrote in October last year it was continuing <a href="/expert-insights/buying/first-home-buyer-numbers-also-gone-missing-in-worrying-abs-data-blackhole">worrying statistical blackhole</a>.
Loans to first home buyers caught most of the owner occupied loan commitments made to first home buyers, but not to first time investors who were staying at home while buying their first home elsewhere.
First home buyer statistics are compiled using data from the ARF 392.0 Housing Finance form collected by the Australian Prudential Regulation Authority (APRA) under the Financial Sector (Collection of Data) Act 2001, and are an important as part of analysis of housing demand and affordability.
First home buyers are defined as persons entering the home ownership market as owner-occupiers for the first time.
An investigation by the ABS identified that the data on first home buyers are under-reported, as some lenders have only reported loans to first home buyers who have also received a First Home Owner Grant.
The under-reporting only relates to loans to first home buyers. 
The ABS and APRA are now working with lenders to ensure all loans to first home buyers are recorded in the future, regardless of whether they receive a grant or not.
In the interim, the ABS has adjusted first home buyer data for this under-reporting using estimates based on data provided by lenders which have reported correctly. The estimates will be updated over time as more lenders report correctly. 
The underreporting appears to be around 20%.
The First Home Owner Grant (FHOG), introduced on 1 July 2000, is a national scheme funded and administered by the states and territories. Under the scheme, a one-off grant is payable to eligible first home owners. Until October 2012, all first home buyers were eligible for the grant regardless of whether they bought a new or an established home. 
Gradually, states and territories restricted grants to new homes only so that first home buyers who were buying established homes were no longer eligible for the grant. 
APRA reporting instructions state that a first home buyer is a borrower entering the home ownership market for the first time as an owner-occupier. 
The instructions do not make any distinction between first home buyers who are eligible for a First Home Owner Grant and those who are not. Nonetheless, some lenders' reporting systems only record first home buyers if they are eligible for a grant which may cause under-reporting of first home buyers. 
The ABS acknowledged this under-reporting has progressively impacted on first home buyer statistics from October 2012 as individual states and territories have changed the eligibility of their First Home Owner Grants, generally to cover only the purchase of newly constructed homes. 
States and territories restricted grants to new homes from different dates - New South Wales and Queensland from October 2012; Victoria from July 2013; the Australian Capital Territory from September 2013; South Australia and Tasmania from July 2014. 
Loans to first home buyers were therefore underestimated in these states from the dates specified due to some lenders under-reporting. 
The ABS suggested originally, the drop in loans to first home buyers from October 2012 had been attributed to the change in grant eligibility reducing the affordability for first home buyers and economic conditions, such as rising house prices and the increase in investment loans for housing. However, subsequent analysis and follow-up with lenders has confirmed that the drop was due, at least in part, to under-reporting by some lenders. 
The ABS estimates that the number of loans to first home buyers which are currently being reported are approximately 80% of the total number of loans to first home buyers. 
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Just add investors! First home numbers up 25% after ABS statistical revision

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Off the plan sales are underway in Australia 108, the 100 storey residential highrise at 70 Southbank Boulevard in Melbourne. 
There has already been one family buying five apartments with intentions of combining them, on the 79th level costing over $9 million through Andrew Leoncelli, Melbourne director of the selling agents, CBRE.
It was not an entire floor, as Property Observer gleans the 79th floor has eight apartments.
The big launch is February 14.
The tower was originally designed to be 388 metres high but has been scaled back due to concerns over civil aviation flight controls.
It has also been changed from a hotel plus apartments to apartments only.
The tower is being developed by Singaporean company World Class Land, a subsidiary of Aspial Corporation headed by billionaire businessman Koh Wee Seng.
Completion is scheduled for early 2019. 
<img src="/images/2015/01/15/TPA8467_Australia_108_E01_Hero%20Elevated.jpg" alt="">
<a href="https://www.australia108.com.au" target="_blank">Australia 108</a> will have one-bedroom apartments (42-50 square metres) from $517,500.
One bedroom plus study apartments (57 square metres) will be price from $630,500; and two bedroom apartments (58-72 square metres) from $642,500 all on the first 67 levels, called "Sky Rise".
The levels above will be the "Cloud Rise" section, with three-bedrooms (120-151 square metres) from $1.64 million and three bedroom, three bathroom penthouses (172-211 square metres) from $3,014,700. 
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Family snaps up five 79th floor apartments in Australia 108

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GUEST OBSERVATION
Do you remember when Professor Steven Keen, (the economist, author and renowned pessimist when it comes to property), was selling his house because of he thought the property market was overpriced?
I do. The year was 2008.
I remember seeing him on TV (A Current Affair or Today Tonight) doing a walk-through of his apartment and explaining to the reporter how overpriced the market is and it’s time to sell.
Fast forward to today and this morning I read that in <a href="https://news.domain.com.au/domain/real-estate-news/back-to-boom-sydney-house-prices-jumped-14-per-cent-in-2014-20150128-1304n8" target="_blank">2014 property prices are up 14% alone</a>.
Here’s a chart up to 2013 – so add a lot more and to the end and you get the picture.
<img class="center" src="https://m.c.lnkd.licdn.com/mpr/mpr/p/5/005/0b3/0a2/1ff6cc9.png" alt="" width="588" height="293" data-loading-tracked="true">
Source: Housing NSW, Arek Drozda
But, at the time, Steven Keen certainly made me think. He made me ponder putting some property onto the market.
Why? Because I thought and still feel that relative to wages property seems expensive. This is probably based on my childhood, where my father could support five kids and a wife on the one wage and still have a house in Concord NSW (back then I was a Westie - now I'd be a latte sipping urbanite).
But times have changed.
Now, I don’t know what the future holds but my lessons or takeaways from this experience are:
<ol>
<li>Don’t get your facts from ACA or Today Tonight. 
</li>
<li>I'm glad I didn't listen to you Mr Steven Keen 
</li>
<li>Don’t sell property unless you really have to (the costs of getting into and out of the property market are really high). 
</li>
<li>Australia has so many varying factors that have helped keep our property market strong 
</li>
<li>There are many different markets within Australia – so it’s too simple to say the Australian property market will go this way or that. 
</li>
<li>When i can buy money at 5% or below fixed for five years, .hard to see the market heading south anywhere in a hurry.</li>
</ol>
Did you sell? Where do you think the market is headed now?
Tyron Hyde is director of <a href="https://www.washingtonbrown.com.au/" target="_blank">Washington Brown Quantity Surveyors</a>.
His book <a href="https://www.claim-it.com.au/?utm_source=wbsite&amp;utm_medium=image&amp;utm_campaign=homepagebanner" target="_blank">CLAIM IT!</a> helps property investors maximise their tax benefits through smart deprecation.
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tyronhyde-GVUTYT8ZT3

I am glad I didn't listen to Steve Keen: Tyron Hyde

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The rental market in Queensland's Mackay continues to decline, with 10.3% of rental stock vacant, according to the Real Estate Institute of Queensland (REIQ).
The town has been fuelled in the past by its mining economy, thanks to its location near the Bowen Basin coal mining reserves. However, as coal mining work declines, in part due to falling commodity prices, so too has Mackay's popularity with workers.
There was a 3.1% vacancy rate two years ago.
The struggling rental market has seen some landlords offer rent-free periods to attract tenants.
One investor is advertising a two week free offer on a <a href="https://www.realestateview.com.au/rental-properties/10-19-23-stevenson-street-mackay/Property-Details-rent-residential-8281018" target="_blank">three bedroom townhouse style South Mackay property</a> that falls under the National Rental Affordability Scheme (NRAS).
It was available last February at $368 per week, and is now available at $300 a week, from 24 February.
The investor paid $370,000 in 2011. The median sale price of a Mackay unit or townhouse in the September 2014 quarter was $301,000, according to the REIQ. The median house price was $391,000.
It is not just NRAS investors who are seeking tenants. Another landlord is also offering a two week free rental period after lowering their asking rent from $300 per week in May 2013 to $250 per week. The <a href="https://www.realestate.com.au/property-unit-qld-mackay-404537165" target="_blank">two bedroom townhouse, pictured below,</a> is available now. 
<img src="/images/2015/02/03/2.jpg" alt="">
5/10 Romeo Street, Mackay
Domain Group senior economist Andrew Wilson says that three to four years ago, Mackay – which <a href="https://propertyobserver.com.au/finding/residential-investment/17995-thursday-observer-matusik" target="_blank">saw vacancy rates as low as 0.9%</a>, by some measures  – was a "classic overheated market".
"It became investor central, with a lot of speculation, and prices moved well beyond their fundamentals, and affordability killed demand" Wilson told Property Observer.
He notes that the mining economy peak saw a lot of housing supply brought to market, with the transient workforce unable to keep up.
"A lot of the mining workers are fly-in, fly-out, and a lot of them are actually drive-in and drive-out as well, so there was no real incentive to be a local resident. And it really was the decline of the mining sector that triggered the drop [in rental demand]."
Wilson says Mackay's market declines aren't over yet.
"There's a real oversupply in Mackay, and no bottom is falling in the market. As long as vacancy rates are that high, you're going to see investors competing for a relatively small pool of tenants.
"That puts more downward pressure on rents, and those with a short term investment view have moved on."
The competition to attract a dwindling supply of tenants has seen the investors who own <a href="https://www.realestate.com.au/property-unit-qld-mackay-412534091" target="_blank">5/9 Stevenson Street</a> in South Mackay advertise the property at $210 per week. In early 2012, they was asking for $490 per week. They paid $206,000 in April 2008.
<img src="/images/2015/02/03/1.jpg" alt="">
5/9 Stevenson Street, Mackay
The current state of Mackay's property market is perhaps not a surprise, given <a href="/news/qld/mackay-market-is-down-and-it-s-still-falling">warnings from experts</a> in the past year about oversupply.
Wilson says it will be a while before the town's market strengthens again.
"It's going to be a long journey back for a stable Mackay housing market," says Wilson.
"It was the curse of the hotspot." 
Property Observer notes the vacancy rate in Mackay was just 0.7% in December 2011.
Picture of Mackay marina courtesy of  Kris C. May/<a class="mw-mmv-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank" style="font-size: 12.1599998474121px; line-height: 1.3em;">CC BY-SA 3.0</a>.
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Mackay's property investor woes continue as vacancy rate hits 10% 

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GUEST OBSERVATION
Each week, CoreLogic RP Data monitors residential properties coming to the market for sale through what is commonly known as ‘listing activity’.
Listings are tracked across three different categories; houses, units and vacant land. Listing counts provide a comprehensive look at stock currently available for sale at a national level and across each state and territory. CoreLogic RP Data also tracks listing volumes across the combined capital cities as well as in each individual Australian capital city.
One of the key benefits of this data set is that it can be used to monitor stock levels over time. The listings volumes are a key indicator of how the property market is tracking at any given time. Paired with the number of transactions, listings volumes help to provide a good indication of how balanced a market is, and what proportion of stock is available for sale or is being turned over.
Similarly, listings can be paired with sales volumes to help us work out the effective supply across the market and how many months of stock are available at any one time.
Over the four weeks ending 25 January 2015 there were 29,107 new listings added to the market and the total number of properties available for sale was 229,453.
While not surprising, off the back of the end of year slow down, new listings are much lower than they were three months ago when over the four weeks ending 21 September 2014, 42,650 new listings were added to the market nationally.
In comparison to the same time last year, we can see that new listings coming onto the market across Australia are currently -8.3% lower, however, total stock levels are just -2.2% lower.
Similarly across the capital city markets, the total number of new listings that were added to the market over the four weeks ending 25 January 2015 (16,352) were -6.6% lower this year, compared to last year and total listings (89,521) are -4.1% lower.
Click to open in new window:
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Listings-table.jpg" target="_blank"><img class=" size-full wp-image-4219 aligncenter" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Listings-table.jpg" alt="Listings table" width="1420" height="306"></a>
What is interesting is that across the combined capital cities for the majority of 2014, total listings on a rolling four week basis remained lower than at the same time in 2013. However, new listings numbers were higher in comparison to the previous year for much of the first half of the year and a similar trend was seen in October and November.
The fact that new listings were higher, but total listings were lower suggests that stock was being absorbed faster than it was in 2013. This can be further quantified by looking at sales volumes over the start of 2014.
Between January and May, the total number of houses and units sold was higher on a month-by-month basis than the previous year, while sales volumes began to ease slightly towards the end of the year.
Furthermore, the average time on market trended lower in 2014 further highlighting a more rapid rate of sale.
Click to open in new window:
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Number-of-homes-for-sale-combine-capital-cities.jpg" target="_blank"><img class=" size-full wp-image-4220 aligncenter" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Number-of-homes-for-sale-combine-capital-cities.jpg" alt="Number of homes for sale, combine capital cities" width="1273" height="488"></a>
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Number-of-homes-for-sale-national.jpg" target="_blank"><img class=" size-full wp-image-4221 aligncenter" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Number-of-homes-for-sale-national.jpg" alt="Number of homes for sale, national" width="1269" height="482"></a>
As shown in the above graphs, we know from previous years that the number of homes available for sale will start to ramp up over the next few weeks and we will also see more activity begin to resume across the auction market which over the past six weeks has been relatively quiet.
Similarly, we have also seen the CoreLogic RP Data Listings Index pick up after the seasonal slowdown, with the index up 31.6% over the week ending 25 January 2015.
This Index is a lead indicator for residential dwellings being prepared for sale, so the rise in the Index is clearly signifying the conclusion of the quiet end of year period.
Click to open in new window:
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Listing-Index.jpg" target="_blank"><img class=" size-full wp-image-4222 aligncenter" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/Listing-Index.jpg" alt="Listing Index" width="1171" height="447"></a>
Shana Miller is a research analyst at <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow">CoreLogic RP Data</a>.
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Residential listings trending lower than this time last year: CoreLogic 

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Sydney and Melbourne's performance continued to propel the national housing market in January, according to the latest CoreLogic RP Data.
Hobart, however, had a surprising start, recording the second strongest monthly result of any capital city.
It was the the strongest monthly result for six months.
Capital city dwelling values increased by 1.3% last month, but CoreLogic RP Data noted in its January Hedonic Home Value Results that the results were varied across the country.
<img src="/images/2015/02/02/core-feb-2-one.jpg" alt="">
Source: CoreLogic RP Data
Melbourne outperformed all other Australian capital cities in January, recording a 2.7% increase in dwelling values over the month. While Hobart's growth was second highest, at 1.6%, Sydney's 1.4% price growth made a significant impact on the national result due to the city's high number of homes.
CoreLogic RP Data Head of Research Tim Lawless described Hobart's results as a unique occurrence.
“Generally, Hobart has recorded the lowest rate of capital gain since the onset of the GFC, however housing market conditions  have  been  improving.    Local  economic  conditions  have  been  improving  and  Hobart  homes  are  the  most  affordable  of  any  capital  city," said Lawless.
"Additionally,  the  market  is  benefitting  from  the  return  of  ‘lifestyle  buyers’.  After  Darwin,  the  southernmost capital is also showing the second highest gross rental yields of  any other capital city.”
Hobart's median house price was $364,000 for the quarter to January, while the median unit price was $265,000.
Although Sydney's price growth slipped below both Melbourne's and Hobart's last month, its homes are still the most expensive in the country, with a median price of $850,000 for houses and $605,000 for units.
Lawless noted that Sydney's housing market has stood apart since 2009, with a 57% increase in home values from January 2009 to January 2015.
"The second highest growth rate over the same period has been in Melbourne where values are 50% higher. There is a significant gap between the next best performers over the same six year period. Darwin has seen less than half the level of growth at 24% followed by Canberra at 18% and Perth at 17% total growth," said Lawless.
Melbourne's house market was stronger than its units. House values were up 2.8% to a median of $613,000, while units were up 1.7% with a median price of $480,000. On a long term basis, price growth for detached houses has been stronger than unit price growth across the country.
Despite the strong January results, Lawless said the housing market is slowing.
"In a sign that housing market conditions are gradually cooling, the rolling annual rate of capital gain has been trending lower," he noted.
"At the end of January the annual rate of dwelling value growth across the combined capitals index had slowed to 8.0%, down from the early 2014 peak of 11.5%," Lawless said. 
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Hobart shines in 2015's strong start, but house price growth set to slow: CoreLogic RP Data's January results

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Two Australian projects are among finalists for 2015 ArchDaily website Building of the Year Awards.
Lune de Sang Sheds by CHROFI and One Central Park in Sydney's Chippendale (pictured above) by Ateliers Jean Nouvel and PTW Architects were each judged worthy of the top five most popular projects in their respective categories by readers of ArchDaily.
Both projects have been regularly featured on architectural websites.
The rural NSW project <a href="https://architectureau.com/articles/lune-de-sang-sheds/" target="_blank">Lune de Sang Sheds</a> is up against projects from Chile, Spain, and Germany as well as Heatherwick Studio’s Bombay Sapphire Distillery in the industrial architecture category.
In the housing category, <a href="https://architectureau.com/articles/one-central-park/" target="_blank">One Central Park</a>‘s much-talked-about Heliostat is up against The Iceberg by CEBRA + JDS + SeARCH + Louis Paillard Architects in Denmark and Parkrand by MVRDV in The Netherlands as well as projects from Portugal and Brazil.
In all, five finalists in fourteen categories have advanced to the second round of voting, which <a href="https://boty.archdaily.com/us/2015/category/Housing" target="_blank">closes 4 February 2015</a>.
The building with the most votes will be named ArchDaily’s Building of the Year for 2015.
<a href="https://www.propertyobserver.com.au/https://boty.archdaily.com/us/2014" target="_blank">The 2014 ArchDaily Building of the Year Awards</a> was described as a peer-based, crowdsourced, architecture award where the collective intelligence of 60,000 architects filter and recognize the best architecture featured on ArchDaily during the past year.
It has been giving the award since 2009.
It was early 2013 when, in an Australian-first engineering feat, Frasers Property Australia and Sekisui House Australia had elevated a 110-tonne steel frame 100 metres in the air, successfully attaching it to the One Central Park apartment block on Sydney’s Broadway.
<img src="/images/stories/2013/02/heliostat1.jpg" alt="heliostat1" width="470" height="194">
It is considered the most complex part of the construction process in building Australia’s first residential heliostat, 30 months in the making.
<img src="/images/stories/2013/02/heliostat2.jpg" alt="heliostat2" width="470" height="601">
Underneath, 3,000 coloured LED lights have become an eye-catching piece of public art at night, illuminating the residential towers with a light display designed by French lighting artist Yann Kersale.
<img src="/images/stories/2013/02/heliostat4.jpg" alt="heliostat4" width="470" height="313">
 
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