Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

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

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

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>
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Ellen Walker

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

<html><body>Australian Property Monitors (APM) has released a list of results from 419 auctions in Sydney for the weekend of November 17. The clearance rate was 62.1%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 419 Sydney auction results show 62.1% clearance rate

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Some would suggest that the global financial crisis (GFC) is over. Some would rightly suggest that today, given many of the remnants that are still unresolved, it is far from over. <a title="Eurozone falls into second recession since 2009" href="https://www.smh.com.au/business/world-business/eurozone-falls-into-second-recession-since-2009-20121116-29fgm" target="_blank">Eurozone falls into second recession since 2009</a>, and then you have that minor issue called the "fiscal cliff". The cliff is a legislated bundle of government spending cuts and tax increases totalling $US608 billion that are due to take effect automatically on January 1.
So I was fascinated this week to read the latest buzzword – SMBC (small to medium business crisis). Alan Kohler wrote on Business Spectator – <a title="What crisis? This crisis" href="https://www.businessspectator.com.au/bs.nsf/Article/Dutch-disease-GFC-economy-SME-NAB-commodities-mini-pd20121114-ZZQR7?opendocument&amp;src=rss" target="_blank">What crisis? This crisis</a> – “Yesterday’s monthly business survey from NAB should be setting off alarm bells in Canberra and through every bank and big company boardroom in the country: Australia’s non-mining businesses are in serious trouble just as the resources boom ends. There will be nothing to take its place.”
“This is a genuine national crisis, but the problem is that it’s going largely undetected and unaddressed because it is not showing in the broad economic data, which is what the Reserve Bank sets interest rates by. That’s why rates were left on hold this month, and may be again in December.”
Personally, I see the end of Australia’s mining boom as a positive as it will allow our business sector to re-calibrate – especially the building sector, which put down tools on building sites to chase work at the then highly profitable mines. <a title="Mining’s double whammy to weigh on growth" href="https://www.smh.com.au/business/the-economy/rba-cuts-growth-forecast-for-third-time-20121109-2928n" target="_blank">Mining’s double whammy to weigh on growth</a> in its statement on monetary policy, the Reserve Bank said weaker spending in the resources sector had prompted it to drop gross domestic product (GDP) growth forecasts for 2013 to below 2.75 percent, compared to 3.0 percent in the August statement.
For a moment forget the mining sector. Australia’s alternate businesses, i.e. those that make up the SMBC, are simply being smashed by one predator – online!
Let’s look at the facts that clearly announce where business is headed – startling data I found on the internet.
<ul>
<li>There are 7 billion people on Earth, with 5.1 billion owning a mobile phone.</li>
<li>It takes 90 minutes for the average person to respond to an email. It takes 90 seconds for the average person to respond to a text message.</li>
<li>91% of all smartphone users have their phone within arm’s reach 24/7.</li>
<li>According to Google’s Our Mobile Planet, smartphone penetration in Australia is now at 52%; however a report by Telsyte predicts that nearly 90% of Australian mobile phone users will have a smartphone as their primary device in 2015.</li>
<li>Nearly 60% of smartphone users access the internet every day on their smartphone and 74% don’t leave home without it.</li>
<li>A massive 94% of smartphone users have researched a product or service on their phones, and only 59% look at first page results when searching on their smartphones.</li>
<li>Interestingly, the three most popular places where people use their smartphones, are home (98%), on the go (85%) and in the office (73%).</li>
</ul>
<img src="/images/stories/2012/11/simeonnov16.jpg" width="470">
 
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<a target="_blank" href="https://www.smh.com.au/business/online-mega-sale-to-lift-local-retail-20121112-298g3" title="Online mega sale to lift local retail">Online mega sale to lift local retail</a> – from Tuesday Australia will experience its first online frenzy when up to 150 retailers will slash their online prices – by between 15% and 90% for 24 hours. Shoppers will have to access <a target="_blank" href="https://clickfrenzy.com.au/" title="clickfrenzy.com.au">clickfrenzy.com.au</a> to access the retailers’ online deals, and this will be the first of many to come. What we are seeing with this is that finally retailers are acknowledging that online is the future.
As for the real estate industry, it will survive. However, the businesses with the dominant online platforms will succeed and those that don’t understand it will perish – like many other industries.
So what is happening with interest rates? Here is a clue.
<img src="/images/stories/2012/11/simeonnov161.jpg" width="470">
Despite the ‘World’s Greatest Treasurer’ believing that the lower the cash rate the better the economy, in 2013 Australia is looking at the lowest cash rates ever seen before. On that analogy, one can reasonably expect that 2013 will be another tough year in real estate.
If this proves to be correct then print advertising (as we know it) will collapse in 2013 and real estate advertising's major spend will be online. Newspapers are not that smart when it comes to real estate advertising expenditure – they need to focus on the little picture not the big picture. Newspaper advertising in the future is merely a point of introduction to online, not vice versa.
<img src="/images/stories/2012/11/simeonnov162.jpg" width="470">
Again the same story in Mosman, where we are seeing a reduction in volume compared with this time last year. This can be easily explained. It is too expensive to move given the trading costs, and when homes are sold for less than replacement value – it is not a coincidence that markets then stagnate. Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" target="_blank">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 title="Virtual Realty News" href="https://www.rwm.com.au/news/" target="_blank">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Aussie retailers finally acknowledge online is the future, and real estate must too

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Metro Property Development launched the first high-rise residential tower in its $450 million project Central Village in Fortitude Valley, Brisbane, amidst the weekend's stormy weather conditions.
The project has notched up 73 off-the-plan sales since launching worth around $30 million.
Metro, headed by David Devine and Ken Woodley, have the prime site earmarked for 1,000 apartments along with commercial, retail and green space.
The weekend offering was in the first of six towers, the Cambridge, which has 163 apartments in 18 storeys.
The prime 12,845-square-metre corner site – at Water and Brunswick streets – cost $30 million.
<img alt="centralvil" height="627" width="470" src="/images/stories/2012/11/centralvil.jpg">
It is close to the RNA Showgrounds, where Lend Lease is undertaking its $2.9 billion regeneration of the Ekka site. Lend Lease has sold about half of the apartments in its first tower, called The Green.
Investors were driving the current growth of Brisbane prices, according to Australian Property Monitors  senior economist Dr Andrew Wilson.
"Falling interest rates are a driver of increased investor activity," he said underpinned by the highest gross rental yield of all capital cities at 5,4%," Wilson says.
"Construction of new apartments continues to feed investor demand in Brisbane," he says, with 2350 units approved in the inner city over year ending June 2012.
Wilson says the most popular locations for new units are Hamilton,  Newstead Kelvin Grove, Fortitude Valley and South Brisbane.
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Cambridge weekend sales by Metro Property in Fortitude Valley

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While 500 million people have moved from rural China into modern cities, <a href="https://www.pnas.org/content/early/2012/05/09/1205672109.full.pdf">a recent study</a> by Richard Easterlin, a professor of economics at the University of Southern California and the author of Happiness, Growth and the Life Cycle, shows that there is no evidence that the Chinese people are, on average, any happier.
If anything, according to an article in the <a href="https://www.nytimes.com/2012/09/28/opinion/in-china-growth-outpaces-happiness">New York Times</a>, they are less satisfied than in 1990, and the burden of decreasing satisfaction has fallen hardest on the bottom third of the population in wealth. Satisfaction among Chinese in even the upper third has risen only moderately.
What were the findings? Starting in 1990, as China moved from socialism to a free-market economy, real per-capita consumption and gross domestic product doubled, then doubled again. Most households now have at least one colour TV, and many have refrigerators and washing machines. This was rare before 1990.
In the studies conducted by Easterlin participants were asked about their satisfaction with life as a whole and he was startled to find that Chinese people’s feelings of wellbeing have declined in a period of such momentous improvement in their economic lives.
After all, most of us would assume that a fourfold increase in a people’s material living standard would make them considerably happier.
What happened?
Interestingly, before free-market reforms kicked in, most urban Chinese workers enjoyed what was called an “iron rice bowl”: permanent jobs and an extensive employer-provided safety net, which included subsidised food, housing, healthcare, childcare, pensions and jobs for grown children.
Life satisfaction during this period among urban Chinese, despite their much lower levels of income, was almost as high as in the developed world.
The transition to a more private economy in the 1990s abruptly overturned the iron rice bowl. Hundreds of thousands of Chinese who worked at inefficient and unprofitable state companies were laid off. The loss of jobs also meant the loss of the employer-provided safety net.
Worries about job security are reflected in feelings of financial satisfaction. At the same time more Chinese were reporting that their health deteriorated.
China’s transition has been similar in several respects to the transitions of countries in central and Eastern Europe. In almost all countries, life satisfaction initially declined and then recovered to numbers somewhat below pre-transition levels.
 
<hr class="system-pagebreak">
 
What can we learn from China’s transition? Certainly not that China should return to socialism and the gross inefficiencies of central planning, according to Easterlin.
What it does show is that its market transition has given birth to increasing concerns among everyday Chinese about such matters as finding and holding a job, the availability of reliable and affordable healthcare, and provision for children and the elderly.
To its credit, the Chinese government has taken some steps in recent years to broaden and improve unemployment and pension benefits, as well as to upgrade the health care system. But the safety net remains in need of substantial repair.
My thoughts:
These finding don’t surprise me. While many of us strive for more money thinking it will make us happier, that is rarely the case. 
It took me a number of difficult life lessons to learn that money is important in those areas of life where it is important (such as paying the bills and the school fees) and it’s not at all important in those areas of life where it is not important.
To be truly wealthy you need a lot more than money. 
You need your health, family and friends that love and appreciate you and the time to enjoy life. In my mind you also need spirituality and the ability to give back and contribute to the community to be truly wealthy. 
So owning more properties or having a colour television, washing machine or fancy appliances won’t necessarily make you happier. 
However, I remember someone once telling me that it felt much better to turn up to your troubles in a Mercedes than a Hyundi.
 Michael Yardney is a director of <a href="https://www.metropole.com.au/">Metropole Property Strategists</a>, which creates wealth for its clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia's leading experts in wealth creation through property and writes the <a href="https://propertyupdate.com.au/category/property-investment/">Property Investment Update</a> blog. Subscribe today and you'll receive a free video, The Golden Rules of Property Investment.
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Why doesn't money buy happiness?

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You’ve probably met someone who bought property in a mining town and made a bucket load. 
Years ago when everyone else was turning up their noses at those giant red holes in the ground that were mining towns, some crazy risk-takers bit the bullet and took the gamble.  It wasn’t much of a gamble, really – you could buy property that probably fit within your credit card limit, but at that time everyone figured nothing much could come of it.
Stories abounded of untold success.  It was the first we’d ever heard of a "donga", but apparently these tin sheds skyrocketed and fetched astronomical prices and rental yields.    Everyone wanted a piece of that action, and you had to jump out of the way to avoid the stampede of investors racing to these one-horse towns for their piece of investing gold.
There’s no question that a great return can potentially be made buying property in a mining town, but people make money investing in pork bellies and trading foreign currency, too.  Why don’t we all jump on that bandwagon?  Quite simply, because we know they are high risk, and we are mostly pretty acquainted with our own personal appetite for risk.
So what madness is this that causes property investors, many of them without money to lose and gambling the equity in their own family homes, to completely ignore the risk factor attached to buying in mining towns?
I have a few theories around this.  Firstly, property investors rarely educate themselves before taking the plunge.  Somehow they feel that just because they own a home of their own they are suddenly experts at picking the right property.  It’s a bit like believing that just because you bought Telstra shares you vicariously received a crash course in share investing and are now an expert at it.
 
<hr class="system-pagebreak">
 
Secondly, it seems that when you use someone else’s money (the bank’s) it’s OK to be less careful.  There’s a misplaced confidence that comes when a bank gets a valuation and then agrees to advance you the money – as if it somehow provides its tick of approval for your decision and, well, banks know what they’re doing, right?
Lastly, it’s public enemy number one – the undying belief that property, as long as it’s held long enough, will always go up.  It provides a false sense of security around property buying and removes any common sense many investors might otherwise use when choosing an appropriate investment that sits nicely within their risk profile.
Investing in a town based solely on only one industry carries a risk that  is greater than buying property in an area where the industry is diversified. An event that may initially have little to do with that one industry, such as another GFC, a slowdown in China’s demand for our resources, to name a couple, could eventually develop to create an impact great enough to negatively affect the fortunes of the true risks involved.
Where an entire area extracts its income and employment from that one industry and its related industries (such as retail and hospitality), a closure of that industry can have swift and devastating effects upon those who own property. An investor may go quickly from having a property with a high value and exceptional rental returns to one with no tenant and no buyers.
I’ll never argue that significant gains cannot be made by those who invest in towns such as these, typically mining towns. However, all investing must be undertaken with a sound grasp of the true risks involved. If you are prepared to accept those risks, and you have considered what your position would be if you owned a property that suffered a significant loss, then a mining town may be an excellent investment for you.
Contrarily, if you need a little more surety in your investing, stick with areas of more diversity, which can manage industry closures because there are many other employers to take up the slack.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News.
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mlomas-KC9MUPZ6Ca

Are mining towns really property investment goldmines?: Margaret Lomas

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The South Australian government has introduced a draft bill with the aim of addressing the issue of “bait pricing”, otherwise known as underquoting.

If passed, it will make it illegal for properties to be passed in at a higher price than advertised or for vendor bids to be received at a price higher than advertised.
The bill was introduced by SA Deputy Premier and Mnister for Business Services and Consumers John Rau yesterday afternoon.
Rau said the government continued to receive complaints from potential home buyers regarding situations where properties were either passed in at a higher price than advertised or vendor bids were received at a price higher than advertised.

"The government believes that the most effective way of eliminating the practice of bait pricing is to create a nexus between the price sought by, or acceptable to, the vendor and marketing a property based on that price.

"The expectations of the purchaser will be realistically met when the auction of a property is based on advertising that reflects the genuine selling price of the vendor," he said. 

Real Estate Industry of South Australia (REISA) president Greg Troughton told AdelaideNow that underquoting was a “blight on the real estate profession” and those agents that underquoting risked being kicked out of the industry.

“It punishes the vendor and removes competition from the marketplace so that everyone knows what the reserve is,” he said.

<a href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988" target="_blank">Analysis by Property Observer </a>of 74 Melbourne sales catalogued by National Property Buyers over the last four weeks of October found that almost 75% of them sold for more than the upper bracket of the quoted price range.

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South Australian government to make underquoting illegal

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For the week ending November 11, 2012, the combined capital cities clearance rate was recorded at 53.2%, a slight increase from the previous week’s clearance rate of 53%. Over the past week, there were 1,891 auctions held across the capital cities, which is higher compared with the previous week. At the same time the one year ago, there were just over 1,900 auctions held across the capitals. The clearance rate over the past week was much higher than one year ago, when the clearance rate was recorded at 48%.
The clearance rate in Melbourne, which is Australia’s largest auction market, was recorded at 57.6% over the last week, a decrease from the previous week’s clearance rate of 58.5%. There were 819 auctions held in Melbourne over the past week. Next week, there are 1,031 upcoming auctions scheduled across Melbourne. In Sydney, auction clearance rates decreased to 55.8% last week from 57.7% the previous week.
Over the coming week, there are 2,081 auctions scheduled across the capital cities, which will be a busy auction week.
Click to enlarge
<a href="/images/stories/2012/11/rpnov15.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/11/rpnov15thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
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Busy property auction week ahead: RP Data

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The problem with a million-dollar view in Sydney is it now costs a lot more than $1 million.
There’s a website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank" rel="nofollow">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a> The winner of the overall competition will win $1,000.
<img src="/images/stories/2012/11/shackel.jpg">
To get the view that million-dollar view <a href="https://www.realestate.com.au/property-house-nsw-clovelly-111965679" target="_blank">15 Shackel Avenue, Clovelly</a>, has on offer you will first need more than $2.5 million just to get your hands on the land. From there you will drop another million to build a two-storey home and then you will truly have a spectacular million-dollar view.
This <a target="_blank" href="/news">Clovelly </a>property is certainly what you would call tightly held. It was purchased by the current owner back in 1974 for $49,000 and has been an outstanding investment. If it does crack $2.5 million as Daniel Gillespie from Belle Property expects it will have shown an annual compound growth rate over 10%.
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marmstrong-sd3emVLPPb

Sydney auction tipping: Million-dollar view in Clovelly, for three times the price

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The vendors of a Mont Albert property going to auction this weekend hope a significant renovation entices $1.2 million-plus buyers.
There’s a website, <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney. This season <a rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
They just don't build them like <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/1-laurencia-court-mont-albert/Property-Details-buy-residential-4587709">1 Laurencia Court, Mont Albert</a>, anymore. This “Waterfall Art Deco” property was built in 1946 and features an original iron curved staircase. The five-bedroom home is full of character and is located at the end of a quiet <a href="/news">Mont Albert</a> court.
<img src="/images/stories/2012/11/laurenci.jpg">
The current owners purchased the property in 2004 for $613,000 and have made significant cosmetic improvements to the property including an alfresco space that includes a heated below-ground pool. Tom Ryan from Jellis Craig says this property has really struck a chord with a lot of buyers and expects the property will sell in excess of $1.2 million.
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Melbourne auction tipping: Character-filled Art Deco home in Mont Albert

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Consumer confidence soared to its highest level in more than a year-and-a-half in November but a cash rate cut is still likely on December 4, says Westpac chief economist Bill Evans.
The Westpac Melbourne Institute Index of Consumer Sentiment increased by 5.2% in November from 99.2 in October to 104.3 in November - its highest level since April 2011 when the cash rate was 4.75%.
The sub-index measuring whether now is a good time to purchase a dwelling remained unchanged, but at its highest reading since September 2009 of 139.8 (the index average is 122.5) following a jump of 9.6% last month.
Evans says despite no change over November to this sub-index, it is “still clearly signalling a boost to confidence around the housing market”.
“Even those folks who hold a mortgage increased their overall confidence reading by 2.9% despite the likely disappointment from the Reserve Bank’s decision,” says Evans.
Respondents were surveyed between November 5 and November 11 so “largely captured the impact on confidence impact on confidence of the Reserve Bank’s decision”.
However the index is up just 0.9% on a year ago following the first 25 basis point cut from the Reserve Bank on November 2 last year.
<img src="/images/stories/2012/11/sentimentnov14.gif">
“In effect, the subsequent 125 basis points of rate cuts have only really now been successful in holding the index at that level which we reached in November last year,” says Evans.
He says the best policy for the RBA would be to cut the cash rate again on December 4.
“With private rates still comfortably above those levels of recent easing cycles it would be unfortunate if the RBA becomes over optimistic to the first sign that its policies are gaining traction.
“The Australian economy is facing uncertainty around the mining sector and with contractionary fiscal policy and a punishingly high Australian dollar, we need further rate cuts to help build on these early signs that lower rates are having an impact on households’ confidence," says Evans.
All components of the index increased in November with the biggest sub-index rise being for “family finances vs a year ago”, which lifted 11% to 91.8 above the historical average of 90 indicating an improved level of financial comfort among households.
However, confidence fell sharply by 5.2% in Western Australia, “the dominant resources state” and also fell by 8.7%, in South Australia “where ongoing disappointment around the cancellation of the Olympic Dam project may be a factor”.
“In contrast to this, confidence surged 14.2% in New South Wales where mining activity is less significant and, arguably, prospects are brightest for the property market,” says Evans.
According to Evans, the more likely explanation for the strong uplift in November is that “households are becoming more comfortable with the global outlook and are finally responding to the series of rate cuts”.
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