Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

[smartcode_project:default project_id=139989 project_image_fid=350986]

The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

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

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

[smartcode_project:default project_id=134800 project_image_fid=370647]

The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

[smartcode_project:default project_id=134800 project_image_fid=372541]

The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

[smartcode_project:default project_id=134800 project_image_fid=351535]

Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

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

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

[smartcode_project:default project_id=135247 project_image_fid=262183]

Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=135247]

Capital Corporation to cater to Upper North Shore downsizers by creating walkable community at The Residences at Wahroonga Estate

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

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

<html><body>
Victoria's Fishermans Bend Urban Renewal Project announced in July 2012 is in the middle of its community consultation that will inform the Strategic Framework Plan.
A letter drop to local residents' and business owners' properties noted that the community engagement for the project concludes on November 22, 2013, with the framework to then be released in the summer of 2014.
The planned redevelopment of Fishermans Bend from the local government will "transform a large area of industrial land on the city's doorstep," the letter reads.
The plan is to provide 80,000 homes and 40,000 workers within 40 years. Currently, 250 hectares has been rezoned for the purpose.Fishermans Bend is bound by Williamstown Road and Boundary Street to the south, City Road to the east, the West Gate Freeway and Lorimer Street to the north and City Link and Todd Road to the west.
Fishermans Bend has previously been contentious, and professor <a href="https://www.google.com/url?q=https://www.propertyobserver.com.au/victoria/fishermans-bend-rezoning-remains-contentious-as-montague-site-to-be-flooded-with-apartments/2013062562627&amp;sa=U&amp;ei=umlcUpz7MIiOiAfglIDwCA&amp;ved=0CAcQFjAA&amp;client=internal-uds-cse&amp;usg=AFQjCNFWNO5NxBkT_iMjJHsbL2SpROJesQRMIT" target="_blank">Michael Buxton has been vocal about the redevelopment</a>.
"You could not get a worse example of how not to develop than Fishermans Bend," Buxton previously said.
</body></html>

jduke-EHk3XBmHkn

Community consultation underway for Fishermans Bend

<html><body>
I’ve been saying all year that the massive spikes in visitor numbers from Asia’s rising middle class will create tourism hotspots for property investors in states such as Queensland.
Places like the Sunshine Coast, Rockhampton, and Cairns are the obvious choices, and we’re seeing considerable improvement in confidence in these markets.
Even Australia’s property investment ugly duckling, the Gold Coast, has a much healthier market outlook now compared to twelve months ago. Although I still suggest exercise caution before jumping in to the Gold Coast.
But despite the strong predicted growth in tourism, I advise property investors to look beyond the traditional tourism locations to places that offer growth drivers across a wide range of industries.
Queensland will increasingly become more and more popular for international students. Between 2010 and 2030 a massive 2.5 billion extra people will enter Asia’s middle class. They will want to travel to quality tourist destinations, and pay for their children to study. Queensland has world-class universities, a safe environment, affordable lifestyle, and a relatively short direct flight from home.
Brisbane’s benefit from tourism is not to be under-estimated. It is already the third most visited Australian city by international tourists. I am tipping that James Packer will be successful in his attempts to gain a second casino license to attract the Asian high-rollers. I think the state government is on the money with their concept plan to convert the CBD Northbank site in to an entertainment precinct on par with Melbourne’s Crown casino precinct.
We purchased very few investment properties in Brisbane for our clients over the last few years but we have recently become quite active here again.
In spite of its controversy, Clive Palmer’s proposal for a unique tourism experience involving dinosaur theme park, hovercrafts, aquarium, and convention centre is exactly the type of thing which the Sunshine Coast needs. My appetite for the Sunshine Coast’s property market is warming.
We’re presently negotiating some great deals for our clients in several locations in Queensland and throughout Australia with some really strong growth drivers. Tourism is the obvious one because it really will go off.
 
<hr>
 Simon Pressley is Managing Director of <a rel="nofollow" target="_blank" href="https://www.propertyology.com.au/">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and the 2012 and 2013 REIA / REIQ Buyer’s Agent of the Year.
 
 
</body></html>

spressley-sBoeMhannA

Tourism hotspots popping up, but look beyond the traditional options: Simon Pressley

<html><body>
I’ve written extensively regarding the various issues that adversely affect our home buying demographics.
Within the real estate industry itself, it’s not a popular subject - obviously time spent analysing concerns related to rising capital prices, which will eventually result an undesirable demographic shift in the makeup of our society, do little to promote a profit making business that reaps rewards from inflationary gains.
Any hint that the cost of accommodation may be unaffordable for a growing percentage of potential purchasers, usually results in an accusation that first time buyers are being picky or just plain unrealistic in their expectations. Whilst low rates may assist existing owners, the short-term frenzy of activity being felt in our largest capital cities is primarily being lead by little more than confidence and speculation, with 50% of Sydney and Melbourne’s current demand is coming from the investment sector alone.
Investors now prop up valuations in the lower price bracket and consequently first-time purchasers without some kind of family assistance to help with a deposit, or dual income, often find themselves forced into a rental trap.
Another reason housing affordability is an unpopular topic, is because it needs to be tackled on a number of fronts.  Hence, why it often seems like an insurmountable problem that successive governments find “too hard” to change within their short-term outlook, albeit, it’s not through lack of educated advice.
Reviews into tax policy, land constraints and development overlays, changes to existing models of funding and so on, have been analysed and researched extensively. However, if the trade-off risks lowering valuations for an asset class which is the retirement and income stream for a large proportion of Australians, it’s considered political suicide to do much outside of maintain the mantra to keep rates low and job security high.
Housing is evidently more about investment than ownership.  The vast majority of programs, publications, and commentary on the housing market, are focused firmly on the investment sector, coupled with plenty of free advice on the expanding array of mortgage products.
It’s a vehicle for making wealth – a valuable asset to tap into when approaching retirement – potentially less volatile than the stock market considering its illiquid nature, and one that when purchased, is held for the long-term, with a view to using the equity to leverage into future acquisitions.
Single first home buyers (if they can be found) need to seek accommodation outside capital city markets to purchase within budget.  Therefore, when you witness half a dozen bidders battling it out for small un-renovated 70s style apartment in an inner area of Melbourne or Sydney, and paying in excess of $500,000 or $800,000 respectfully for the privilege of doing so, with a rental return yielding little more than 4%, you have to wonder at the sanity of it all.
A large proportion of unproductive debt being pumped into a limited area of density, with investors (the supposed ‘unemotional buyer’) playing a game of musical chairs with aging stock, hoping consistent market demand from future speculators will keep valuations inflated, and provide the needed rise in capital to make the loss yielding investment worth the risk after maintenance costs, periods of vacancy, and inflation have all been accounted for.
Commentators often try and play down this influence in the Australian real estate market by stating that just one in seven households owns a single residential investment property.  However, it’s not so much the overall proportion of investment that matters, although this is a factor, but where the concentration is focused.
The percentage of investor-owned apartments in both Darwin and Brisbane for example falls close to 70% – and in the other capitals, it comes in between 60 and 70%. In Australia, investment property contributes 32% of Australian mortgages, compared to 20% in NZ and 12% in the UK.
Local buyers leverage this debt into established dwellings with the low grade, high-density apartments being primarily sold off-the-plan to offshore purchasers which due to cultural tendencies, often results in a significant proportion sitting vacant.
Considering my statement that housing is more to do with investment than occupation, it could be argued that there’s nothing wrong with this - except of course, we all need somewhere to live, and putting aside a small proportion of Australian’s who make the long term lifestyle choice of renting whilst investing elsewhere, most desire a secure place of residence, debt free, upon retirement.
Hence why affordability and increasing the supply of quality stock to provide a feasible entry point for low-income workers into an area that is not devoid of infrastructure, is primary.
Over the next 40 years, Melbourne’s population is set to expand to a projected eight million eventually putting the state in front of Sydney as the most populated.
Planning Minister Matthew Guy is currently responsible for shaping Melbourne and to be fair, he hasn’t got an easy job.
It’s going to be nigh on impossible to please everybody. Years of poor policy have already ensured we have sparse facilities to meet the demands of those who choose to live in fringe suburbs and consequently, the price of commuting frequently forgoes any benefit gained from paying a marginally lower price for the privilege of more space and accommodation further from the city.
The state government are taking a two pronged approach. Firstly, by deciding to enforce a permanent urban boundary to prevent further sprawl, whilst encouraging expansion of regional towns such as Bacchus Marsh, Warragul, Kilmore and Wonthaggi. And secondly, increasing the proportion of high-density accommodation by way of recent changes to residential zones.
So far, the main consensus of opinion on talk radio, television, and social media, has been virulently against all of the above - urban sprawl, increased density, and regional development, with neighbourhood voices speaking strongly against any change to their local landscape.
However, whilst heated emotions are understandable, ease of effective supply is an essential component when combating issues of affordability, and therefore, if this is what the state government intends - as spruiked in the various press releases, it must achieve the following:
<ol>
<li>Drive down land values </li>
<li>Ensure infrastructure is adequately financed </li>
<li>Keep speculative activity in check to make sure supply is suitably priced and attractive to lower income homebuyers and renters.</li>
</ol>
In light of the above, a few cautionary points should be highlighted in regard to Melbourne’s new plan.
When you place a band of restriction around any neighbourhood – with a ‘permanent urban growth boundary,’ you effectively make assumptions about future increases in population, and in doing so restrict the amount of developable land, resulting in a decrease not increase of supply over the longer term.
In addition, larger developers have a tendency to land bank the available plots reducing competition against smaller players who don’t have the financial capital to compete so far in advance of demand.
This inevitably leads to higher, not lower land prices for the predominant demographic this type of accommodation attracts – lower wage dual income buyers.
Families require houses (not apartments) gardens, green areas and local schools.  They need community facilities, a local doctor on hand, good public transport and nearby shopping centres – and they need it all at an affordable price.
Therefore, as much as idealists may not like sprawl, it’s not only important to make land readily available and free of restriction when population growth demands as such, it’s also important to implement a structured and timely plan to fund essential community infrastructure to attract consistent solid demand.
The specified areas closer to town set aside for intensive development of high-density apartment blocks will be immune from council or residential protest.
However, to date, the rush into apartment living has been anything but robust.  The elderly overwhelmingly downsize into medium density accommodation– and although younger generations in their 20s and 30s have a better propensity towards high density dwellings, figures still only peak at around 14% at the age of 27 (as of 2011).
At the root of the problem lay a few issues. The relatively small one and two bedroom units featured as 'affordable' tend to fall into the investment sector of the market, not just because of tight lending restrictions banks impose on first home buyers for this type of accommodation, but also due to high owners’ corporation fees set aside to service the lifts and other security features.
The standard of accommodation is typically low grade and developers are pressured to pay vastly inflated commissions to achieve the pre-sale targets set out by the banking system in order to acquire funding. Hence why such projects are often aggressively marketed to offshore purchasers.
In this regard, the avenue Melbourne is heading toward, is similar to the building initiatives employed in Ireland in the run up to the GFC.
In this region, when supply responded to demand, it was generally too late. Urban growth restrictions ensured new homes were built in locations far from existing amenities, and therefore not appealing to the home buying demographic whilst brownfill sites were filled with high-density poor quality unit stock more suited to investors than the needs of owner occupiers.
Subsequently, in the two years leading up to 2007, almost half of all new home purchases stemmed from the investment sector rather than a first home buyer demographic, and as a result, many of these homes are still sitting vacant whilst the lingering lack of ‘quality’ accommodation is once again starting to <a href="https://www.independent.ie/irish-news/city-housing-bubble-feared-as-prices-soar-by-3000-a-month-29614288">disproportionately inflate</a> as the economy shows slow signs of recovery.
If nothing else, the example proves aptly how supply shortages can still occur, even when building initiatives have been implemented.
Therefore, as admirable as the state government’s plans may seem on the surface, there’s every risk they won’t fulfil the objective intended.
In an excellent piece in The Australian a few days ago, Toby Hall, chief executive of Mission Australia made <a href="https://www.theaustralian.com.au/national-affairs/opinion/lets-put-cranes-over-cities-to-build-housing-for-vulnerable/story-e6frgd0x-1226735036870" target="_blank">comment;</a>
“Housing is part of our critical infrastructure and we should treat it as such. We (should) consider debt financing for major projects - bridges, roads, rail - and we should consider a housing bond backed by the commonwealth.”
Because of our current tax system the best-established property in our inner suburban market suited to the first home buying sector is currently a hotbed of investor demand.  Therefore, as vital as it is to consider finance initiatives to stimulate new projects, it is equally important to make sure the supply constructed is diverse enough to appeal and fulfil the needs of low income owner occupiers -including an increased provision of social housing - and therefore suitably targeted toward those who need it most.
 
<hr>
 Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
</body></html>

catherinecashmore-6LXia3pPQj

Investors or owner-occupiers: Who are we really building housing for? Catherine Cashmore

<html><body>
In the modern era we have made confusion an art – form given our tendency to over analyse, which in turn leads to over dramatized responses. The highway of fear is the shortest route to defeat.
Over the past week we have seen some very interesting observations namely: <a target="_blank" href="https://www.businessspectator.com.au/article/2013/10/4/economy/weekend-economist-rate-cuts-revised" title="Rate cuts revised">Rate cuts revised</a> where analysts now have all but ruled out another cash rate reduction in 2013. Global growth forecasts for 2014 tend to fluctuate between 3-4% so everyone will be looking for the stand out economies. Many are suggesting that Australia may very well be a star performer.
The National Australia Bank Business Survey showed <a href="https://news.smh.com.au/breaking-news-business/business-confidence-at-35year-high-20131008-2v57f" target="_blank">business confidence rose eight index points</a> to 12 in September – its highest level since March 2010. The jobless rate fell from 5.8% to 5.6% which really surprised everyone given once again our over – analysis had the jobless rate higher.
The heavy lifting for the rebounding Australian economy starts in Canberra – <a target="_blank" href="https://www.businessspectator.com.au/article/2013/10/10/national-affairs/how-six-senators-will-transform-australia" title="How six senators will transform Australia.">how six senators will transform Australia.</a> “Wake up Australia, wake up. After six years of federal government chaos we now have one of the most stable governments in the developed world. Not only does the government have a strong majority in the lower house but “The Six” plan to support the government in all its major policy decisions.” With the government now assured of a clear passage it can get on with the job of rejuvenating the Australian economy which in itself is a mammoth task.
<a target="_blank" href="https://www.businessspectator.com.au/news/2013/10/8/australian-news/australia-urged-diversify-economy" title="Australia urged to diversify economy">Australia urged to diversify economy</a> as five “super growth” industries could boost the national economy by $250 billion over the next twenty years. Mining is expected to remain a major driver of prosperity, according to a new Delloitte Access Economics report released on Tuesday, with agribusiness, gas, tourism, international education and wealth management well – placed to join it.
We also saw that “property bubble theory” laid to rest – <a target="_blank" href="https://www.propertyobserver.com.au/economy/is-there-a-property-bubble-the-experts-have-their-say/2013100365490" title="Is there a property bubble? The experts have their say">Is there a property bubble? The experts have their say</a>.  As I’ve said all along the “property bubble theory” in Australia is just a pile of rubbish theory. <a target="_blank" href="https://www.smh.com.au/business/the-economy/its-a-housing-boom-not-a-bubble-hsbc-20131008-2v5qn" title="Housing boom is a necessary evil: HSBC">Housing boom is a necessary evil</a> said HSBC<a target="_blank" href="https://www.smh.com.au/business/the-economy/its-a-housing-boom-not-a-bubble-hsbc-20131008-2v5qn" title="Housing boom is a necessary evil: HSBC"></a>, with house prices having risen 9% since the May 2012 lows, and up 5.5% over the past year, it’s clear that momentum is picking up. I must admit that when these increases are scrutinized much closer we will see that the increases are not reflected in every suburb – more so at the lower end markets although eventually it will move to the top – end markets.
The property markets are simply at the early stages of rebalancing growth and the Reserve Bank of Australia would be most happy to see these green shoots. What many forget is that at the lowest cash rate Australia has ever seen it is very easy to service debt. It only becomes interesting once the cash rate is restored to what many call normality which is somewhere from 5.5% to 7%.
<img style="margin: 0px auto; padding: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; display: block; max-width: 100%;" height="276" width="470" src="https://www.rwm.com.au/files/2013/10/10-10-2013-9-40-08-AM.jpg" alt="10-10-2013 9-40-08 AM" class="aligncenter size-full wp-image-8225">
New lending has been a key driver of the recent pick – up in real estate values where it should be noted that over the last twelve months home loan approvals have risen by 18%. On that basis it is fair to suggest that we will see single digit growth for the remainder of 2013 and this will move to double – digit growth in 2014.
With school holidays now over the anticipated new listings did not materialise this week with just marginal new stock entering the market. Having said that <a target="_blank" href="https://www.rwm.com.au/news/" title="this week’s sales">this week’s sales</a> were somewhat on the soft side too it should be added in all fairness. We are now into week one of the selling run through to Christmas where by all intent and purpose it looks like property listings will remain on the subdued side. This is not a bad sign given if we were to see an oversupply of stock to hit the market I would have serious doubts about the market engagement – what would then happen is a stagnated market.
It has been a long time coming, but now <a target="_blank" href="https://www.propertyobserver.com.au/trends/strong-housing-market-fuels-dwelling-construction-tim-lawless/2013100865476" title="strong market fuels dwelling construction">strong market fuels dwelling construction</a> and it's great to see the RBA’s monetary policy settings reigniting the construction market again. The NSW region is the driving force behind the surge in dwelling approvals with the latest August data showing a 48% lift in private sector approvals compared to August 2012. Certainly the O’Farrell government can take much of the credit given their relentless push for infrastructure in NSW.
Before we start popping the champagne corks it should also be noted <a target="_blank" href="https://www.smh.com.au/business/the-economy/foreign-buyers-snap-up-residential-property-20131010-2va7c" title="foreign buyers snap up residential property">foreign buyers snap up residential property</a> for the three months to September 30, 165 of new property was bought by foreigners up from 11% in the previous quarter. Unfortunately there really is no accurate measure to get an exacting figure as nobody actually offers this service.
Out of frustration we recently set up RWM Research where our number crunchers are busily digesting data for our area so we will have more to report on this in coming months. I personally don’t believe we will be the only real estate agency to have an in-house research team given its importance for market surveillance.
Like most things in our industry we are just happy to be first.
 
<hr>
 Robert Simeon is a director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. 
 
He has also been writing real estate blog <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. 
The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
</body></html>

robertsimeon-hRNTwJyXkQ

On the rebound, Australia may be the star performer of 2014: Robert Simeon

<html><body>
I’ve got a sneaky suspicion that what many people have worried might be a ‘bubble’ is actually just the pop of pent up demand.
Think about it. It’s an undeniable truth that in Australia, and particularly Sydney, we’re obsessed with the property market. In recent years that obsession hasn’t waned but, like a child desperate to ride a roller coaster, we have been too scared to jump on.
Now we’re a bit older and wiser. The potential ups and downs are not quite so scary and we’re ready to go.
But why such a significant spike in demand over recent months? Some might argue that it is in response to interest rates, others to the federal election and change of government fuelling traditional spring demand.
While I think all those factors have played a role the other key point that is often overlooked is the power of the positive trend. It could be a little unkind but you could see it as the ‘sheep factor’. I’m sure you know what I mean. Buyers and sellers don’t necessarily want to go first and test the market but once somebody has taken that plunge with a positive result nobody wants to miss out.
A couple of months ago I was calling for potential vendors to have faith and list their property because demand was there and supply was very low. It was worth it and continues to be worthwhile as demand has increased over and above supply.
 
<hr>
 Ewan Morton is managing director of the Sydney based <a target="_blank" href="https://www.mortonandmorton.com.au/" rel="nofollow">Morton &amp; Morton</a>.
 
 
</body></html>

emorton-DecMjPQt5h

Follow the leader, pent up demand behind the rise of Sydney market: Ewan Morton

<html><body>
There’s been so much chatter about prices lately that everyone has forgotten about rentals.   Fortunately, the publication of Australian Property Monitors’ quarterly rental report has given the real estate media something new to talk about – but, given that the results for Sydney (centre of the universe) and Melbourne (deputy centre of the universe) are quite muted, it’s likely that media won’t discuss it at all.   Can you have a rental bubble? No? Then it’s hardly worth bothering with, is it?   The message about big city rentals in recent times is that Perth and Darwin have had massive increases for both houses and apartments, while the other six capital cities have had no growth at all to speak of.   The rental report for the September quarter has continued this pattern, except that the level of growth in Darwin and Perth has moderated considerably.   According to APM’s report, the median house rent for Perth has dropped in the latest quarter, so the annual rise has come back to 6.7%. There has also been a quarterly decline in the median rent for apartments, so the annual rise is now 10.5%. Those 12-month increases still sound substantial, but are well down on the figures from other periods over the past year or so.   It’s similar with Darwin. The median apartment rent is 7.7% up on a year ago, but it’s not so long ago that the annual rise was above 20%. And the median house rent is now down 2.9% in annual terms.   But Darwin still has the highest median rents in capital city Australia, by a considerable margin - $680 a week for houses and $560 a week for apartments. You have to go to mining towns to find bigger weekly rents that Darwin’s.   Rents haven’t done much in Sydney and Melbourne. You would expect Sydney rents to be rising strongly, given constant media talk about a shortage of dwellings. But there has been no change at all in the median house rent in annual terms and only a moderate (4.3%) rise in the median unit rent.   How can that be, when the market is “white hot” and there’s a chronic housing shortage crisis? The answer is that the shortage is a myth and the market overall is lukewarm only (looking across the whole city, rather than media’s narrow focus on the auction frenzy suburbs).   In Melbourne median rents for both houses and units have risen less than 3% in annual terms. Brisbane’s median house rent is up 3.9% and the median unit rent only 1.4% and Adelaide in even more subdued.   Rents are down quite markedly in Canberra, according to APM’s figures, which is unsurprising in a city where the Abbott axe hangs above so much bureaucratic heads (and there’s an over-supply of apartments).   Equally unsurprising is the decline in Hobart, which is capital of Australia’s economic basket case.   Overall, it’s a pretty mediocre result for residential rents. APM’s senior economist Andrew Wilson argues that rental growth is subdued because more people are buying – but, given the low activity among first home buyers, I’m not sure that this is the reason.   I think rental growth has continued to be muted because the much-trumpeted housing shortage exists only in the minds of the boffins at the Housing Industry Association and those who believe their propaganda.
<hr>
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">hotspotting.com.au</a> and you can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://twitter.com/hotspotting" target="_blank" style="font-size: 14px;">Twitter</a>.
  
</body></html>

terryryder-YECXbqmri2

Lukewarm rental figures reveal the truth behind so-called dwelling shortage crisis: Terry Ryder 

<html><body>
Knee-jerk reporting was always going to be an inevitable impact of more regular property data. Note how quarterly price data now appears to be cooling, except in Sydney.
Mildly amusing that commentators are now sanctimoniously warning buyers about paying too much in Sydney and Melbourne (well, this is obviously true in any market) - never mind that in 2012 they <a target="_blank" href="https://www.propertyobserver.com.au/south-australia/adelaide-mistakenly-overlooked-by-investors-as-projects-get-under-way-terry-ryder/2012041154211">were still continuing to advise investors to buy in Adelaide</a> instead of Sydney.
All the while, I posted my opinion that Sydney's inner/middle ring suburbs would smash records - and they will - Sydney median prices are already up by 13% in this cycle and are heading north by the day.
Adelaide dwelling price 'growth' is still in negative territory over the past year and comfortably below its previous peaks.
I'm not permanently down on Adelaide and despite its weak population growth I am prepared to change my view if the state unemployment rate falls well below 7%.
But not until there is clear evidence of sustained jobs growth in the state - currently jobs growth year on year is negative as compared to NSW where jobs growth has been very strong.
Low interest rates may gradually begin to see employment growth return but it has been a painfully slow five years for Adelaide.
<img style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;" width="400" src="https://www.rba.gov.au/publications/smp/2013/aug/images/graph-3.20.gif" height="328" alt="Graph 3.20: Employment by State">
How long before the mainstream media reporting shifts to: "It's a Sydney property boom only, folks"?
Two weeks, I reckon.
<a style="color: #253fff; margin-left: 1em; margin-right: 1em;" imageanchor="1" href="https://1.bp.blogspot.com/-1jni6iqha_s/UlOhY1Qtd3I/AAAAAAAAKdc/XgQWkZeBi8k/s1600/RPD.jpg"><img style="border: 1px solid #ebebeb; position: relative; padding: 5px; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;" width="400" src="https://1.bp.blogspot.com/-1jni6iqha_s/UlOhY1Qtd3I/AAAAAAAAKdc/XgQWkZeBi8k/s400/RPD.jpg" height="247" border="0"></a>
Source: RP Data
 
<hr>
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 new 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>' was released on 1 September 2013.
 
 
</body></html>

pwargent-M4siyDbqQY

Aussie property recovery appears to be a Sydney-only affair: Pete Wargent

<html><body>
A prime retail shop in the heart of Melbourne’s CBD has been listed for sale with price expectations north of $3.1million.
Fashion retailer Bell &amp; Barnett currently leases the shop, at 261 Little Collins Street, and pays an annual rent of $280,800 plus GST.
The shop is about 114 square metres in size and is already said to be attracting strong interest from investors and owner-occupiers. The shop goes under the hammer on 18 October. It is being marketed through CBRE Melbourne agents Josh Rutman, Ed Wright and Mark Wizel.
</body></html>

kjiminez-eaYKfU7qd2

Prime Little Collins Street retail shop to go under the hammer

<html><body>
With the recent news that the largest of the three office towers planned for Barangaroo – T1 – will be going ahead, researchers and analysts will be forecasting its likely effect on the vacancy rate.


Many, myself included, had quietly believed that T1 would in fact give way to a second residential tower.  Why? Because I had assumed that market forces would win the day, but it seems we were wrong.


The cyclical headwinds facing the office market have been blowing for a while.  The resources boom is fading and the global growth outlook outside of Asia is weak, even after printing trillions of dollars.  As a result, businesses have been reducing overheads and expensive office space. Of course, natural employment growth will create demand, but we are already a service based economy and the past 10 years have seen the CBD office workforce grow by only 0.8% per annum. 


On the other hand, the structural headwinds, are gaining momentum.  They include activity based workplaces, which are more about cutting costs than cutting edge working environments; so will likely gain in popularity.  Then there is teleworking and hot desking; if people working from home one day per week means companies can rent 20% less space, we can expect to see more of it.  Worst of all for landlords, as they require zero CBD office space, are automation and off-shoring.  Why pay someone in Australia to do something that can be done by a computer or by someone in Bangalore or Manila?


So, in this challenging environment the last thing the office market needs is even more supply.  Already, major projects to be completed in the next three years include:  8 Chifley Square (19,000 square metres), 5 Martin Place (30,000 square metres), 20 Martin Place (18,000 square metres), 48 Martin Place (20,000 square metres), Central park (26,000 square metres), 200 George Street (38,000 square metres) and T2 &amp; T3 (165,000 square metres); not to mention several others around 10,000 square metres.


Of course, many of these buildings are, and will be, significantly pre-committed, but it’s not the new space that is of most concern.  The bigger problem is the backfill space that the likes of Macquarie, Ernst &amp; Young and Westpac are leaving behind.  Literally a bigger problem because the areas these tenants are vacating are larger than the areas they are moving into.  


If the existing market was tight, the new supply would be less of an issue, but the vacancy rate for premium and A-grade space in the City Core precinct, the largest and most prestigious in Australia, is currently 14.3%.  With lease incentives already at 30%+ or more, you have to wonder at what price it will get filled and whether it makes economic sense to build another 100,000 sqaure metres of what is already underway.


Of course, the older stock will eventually be recycled into residential uses, but wouldn’t it just make more sense to meet the demand where it exists now, or just hold off for another few years?  If not, our revised forecast suggests the vacancy rate could reach 15% in 2017.
 
<hr>
 Ross Horsley is research manager with <a href="https://www.landmarkwhite.com.au/" target="_blank">LandMark White</a>.
 
 

</body></html>

rhorsley-KtWUGNWwLG

New developments threatens to create oversupply in Sydney CBD office market: Ross Horsley

<html><body>
Apologies to Fry, but we just couldn't resist taking a bite at this topic. If you didn't read The Age on Saturday (5/10/13), you should peruse <a href="http://www.theage.com.au/comment/apartment-towers-are-killing-the-worlds-most-livable-city-20131004-2uzs8">this piece</a> titled 'Apartment towers are killing the world's most livable city.' Call it part sensationalism, part truth, part fluff... but mostly ridiculous!

Upon reading the piece, imagine now the words "apartment towers" in the headline were actually sprawl-belt development or urban fringe development. Sorry, I forgot demonising the suburban establishment is taboo in certain circles and apartment living is the devil incarnate. Quite seriously, apartment living can have its negative aspects, some of which have been touched on within The Age Associate Editor's piece, yet what viable alternative is there? Have the masses live on Melbourne's fringes with its intrinsic lack of urban amenity, public transport, long distance to jobs, inadequate services and mounting social issues? It's all good and well to pot apartment living as part of an ongoing agenda but in doing so provide a viable, efficient and responsible alternative otherwise, well, its just a load of repetitive crap!

Notwithstanding the claim "world's most liveable city" is a load of gumpf bestowed upon us by an offshore economics magazine and perpetuated by local mainstream media and the odd politician looking for a soundbite, it was a curious headline &amp; opinion piece overall given the historic move to have the City of Melbourne, City of Port Phillip and Spring Street cooperate, and (what we can only imagine) sing kumbaya, then produce and release the Fishermans Bend draft vision (<a href="http://www.theage.com.au/victoria/train-stations-treelined-boulevards-mooted-for-fishermans-bend-20130916-2ttux">reported by The Age</a> as well). A draft vision with apartment living at its heart.

The two previously mentioned councils are the stakeholders feeling the most pressure regarding Fishermans Bend where the Capital City Zone overlay sees planning applications automatically lodged at 1 Spring Street rather than Council House 2 or the St. Kilda Town Hall. For the best part of a decade the near bipolar stance in terms of ethos and development of these two councils and Spring Street has been a major source of friction and until now their discontent and bickering has been played out through the media.

These three entities, for all intents and purposes, were happy to put their logos on the same <a href="http://www.portphillip.vic.gov.au/Draft_Vision.pdf">Fishermans Bend Draft vision document</a> where the so-called liveable city-killing apartment towers are very much a part of the draft vision within the Urban Renewal Area - surely all three can't be wrong?

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fishbend_draft_cover.jpg" rel="gallery-all" title="Logos from the first page of the Fishermans Bend Draft Vision document"><img alt="" class="image-article-full-width-580px" height="92" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/fishbend_draft_cover.jpg?itok=kxNg2m2G" title="Logos from the first page of the Fishermans Bend Draft Vision document" width="580"></a>

<figcaption>Logos from the first page of the Fishermans Bend Draft Vision document</figcaption></figure><figure><img alt="Proposed general height limits throughout Fishermans Bend" src="/sites/urbanmelbourne.info/files/pictures/article-images/height_limits.png" style="width: 700px; height: 677px;"><figcaption>Proposed general height limits throughout Fishermans Bend</figcaption></figure>So the question must be asked, is Fishermans Bend now dead in the water as according to The Age's piece where 8, 18 and "Towers above mid-rise podiums" are the type of development which are killing our so-called liveable city?

As for the assertion of placing a moratorium on all current planning applications, well yes lets put the brakes on a positive, jobs producing aspect of the local economy which by the by is now a driver of foreign investment into Melbourne. Ultimately opinion pieces are just that, but thankfully The Age also <a href="http://www.theage.com.au/victoria/developers-oppose-push-for-higher-design-standards-20131004-2uzuv#ixzz2gnfZrXAT">ran a piece</a> really worth reading on the same day - the topic of developer resistance to mandating design standards for new development - an issue far more relevant, which strikes at the crux of apartment living and what should be the housing medium's continual positive progression.

For those seeking a far more learned response to The Age piece, we highly recommend reading Alan Davies <a href="http://blogs.crikey.com.au/theurbanist/2013/10/08/are-apartment-towers-bad-for-our-cities/">The Urbanist</a> blog entry from yesterday.
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News