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>
</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?

<html><body>
A family home in Camberwell should be well sought after when it goes to auction this weekend.
For those who want to have a harmless punt, there's now a tipping website, <a style="font-size: 14px;" rel="nofollow" href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties going to auction this week in round 10 of the competition is 32 Christowel Street, Camberwell, which has all the ingredients for the perfect family home. It is well located in the coveted Golf Links Estate and just a three iron away from Camberwell Junction, public transport, parks and schools. The four bedrooms, three bathrooms and 782-square-metre block of land are the icing on the cake and will make the property well sought after on Saturday.
The property last sold 12 years ago when it fetched $512,000, and Hamish Tostevin from Marshall White has suggested buyers will need between $1.7 million to $1.8 million if they are to call Christowel Street home.
<img src="/images/stories/2012/08/chrisdowel.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow">Property Tycoon</a>.
</body></html>

marmstrong-sd3emVLPPb

Perfect family home in Camberwell: Melbourne auction tipping

<html><body>
<img src="/images/stories/2012/08/164m.gif">
How much listed real estate investment trust Charter Hall has agreed to pay to acquire Stockland Bay Village in Bateau Bay on the NSW Central Coast following an on-market expression-of-interest campaign managed by Colliers International. The shopping centre sold in line with book value. Colliers International’s Lachlan MacGillivray, who led the sales campaign with Heath Crampton, says it is the largest agency-negotiated sub-regional transaction for 2012. Stockland Bay Village, to be reverted to Bay Village Shopping Centre, is anchored by Woolworths, Coles, Kmart and Aldi, three mini-majors and more than 80 specialty stores and three pad sites. The shopping centre is situated on a prime 90,000-square-metre site, with a gross lettable area of 29,162 square metres and was expanded and refurbished by Stockland in 2005 and 2006.
 
<hr>
 
<img src="/images/stories/2012/08/150k.gif">
The price paid for a 40-square-metre strata office at 1 Queens Road on the Melbourne CBD fringe just off St Kilda Road. The office has $12,607 net income per annum and was sold by Gideon Marcus from Teska Carson Richmond. The existing tenant is reputably Melbourne's largest service office provider. The office is leased for two years with two further terms of one year.
 
<hr>
 
<img src="/images/stories/2012/08/4point75m.gif">
How much an undisclosed group from the national not-for-profit health sector paid for the The Edmondstone Motel, a three-star-rated accommodation asset at 24 Edmondstone Street, South Brisbane. The sale of the 21-room property was part-negotiated by Hiep Nguyen from First National Commercial.
 
<hr>
 
<img src="/images/stories/2012/08/2point675m.gif">
The price paid for a tenanted industrial warehouse in the Newcastle suburb of Mayfield West. The property at 3 Metal Pit Drive, Mayfield West, was marketed and sold by Ray White Commercial Newcastle Principal John Parnham on behalf of Newcastle developer ATB Morton. The warehouse is tenanted by workplace safety equipment supplier Protector Alsafe on a long-term lease. It was purchased post-auction by a consortium of local investors. The property is located in the Steel River Industrial Estate just 10 minutes from the Newcastle CBD and 15 minutes from the airport. The sale price reflected a net yield of 8.44%.
 
<hr>
<img src="/images/stories/2012/08/4point65m.gif">
The price paid in a private sale after auction for 5.6 hectares of freehold industrial land at 169 Australis Drive, Derrimut, in Melbourne’s outer west. The property was sold by Nathan Bingham and Stephen Newsham from Colliers International to a private developer. The vendor was Booth Transport. “The purchaser has acquired the land with the intention of opening the door for pre-lease opportunities," says Bingham. “The land will be developed as a major distribution centre within the next 12 months.”
</body></html>

lschlesinger-FZcF9M3vE6

Commercial hammer prices: Charter Hall buys Stockland mall for $164 million

<html><body>
A Wollongong property that was recently renovated on popular LifeStyle property reality show Selling Houses Australia is set for televised auction in early September. 
A short walk to the Wollongong CBD, the three-bedroom cottage last sold for $185,000 in 1999 and was on the market briefly in 2006, according to RP Data. The Selling Houses Australia team added new paint throughout, new blinds, new doors, new light fittings, new taps and a revamped kitchen and outdoor entertainment area. Listing agent Michele Lay of Ray White says it could attract a rental of up to $460 per week. In 2009 it was listed for rent for $400 per week. 
Lay is marketing the property with price hopes of $399,000 plus, and if it sells for $399,000 and rents for $460, that would secure an investor a gross rental yield of 6%, above the indicative gross rental yield of 4.7% for Wollongong houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. <a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The median house price in Wollongong fell 9.9% in the past year but rose 10.5% in the past five years, according to RP Data.
The property will go to auction Monday, September 3 at 6pm. The property will be open for inspection on September 3, with the television crew from the TV show present to capture potential buyers' opinions of the house's makeover. 
For more about prices and yields in <a target="_blank" href="/news">Wollongong, see the RP Data suburb page.</a>
For real-life property lessons from reality TV shows, download our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows">Lights, Camera, Auction!</a>
</body></html>

cknowlton-QnEa6ntUYP

Wollongong house renovated on Selling Houses Australia set for auction

<html><body>
It is often said that Australia has a housing shortage – which may or may not be the case – and governments have taken an active hand in pushing first-home buyers towards the purchase of off-the-plan sales by way of various incentives and handouts to aid increasing supply.
Sales of off-the-plan properties may do the hard yards when it comes to increasing stock, however in the short term they lock the buyer into a risky acquisition with a heightened potential of no short-term growth – and depending on location – poor long-term growth to enable an upgrade.
In addition, purchasers may not understand what they are getting. The contracts for off-the-plan dwellings come with the thickness of a copy of War and Peace and are incredibly onerous to the purchaser.
Imagine for example, the local council disagrees with the planned development, or aspects of it.  Unless the developer can resolve the issue or draw a compromise with the town planner, the whole project is under threat of demise. Considering the amount of investment the developer has made in this project, he can’t risk a “fussy” purchaser withdrawing from a contract based on this alone.  Therefore the contract puts in place “special conditions” to protect the developer – conditions that can’t be altered by the purchaser and lock them in for the duration.
Developments can take many months and even years to come to fruition, and the developer has the entire period to resolve any disputes, during which the purchaser is tied in.
Apartment sales come with additional considerations that should be taken on board before buying into one of the many off-the-plan blocks commencing construction in our capital cities.
For example, owners’ corporation fees stated on the contract at the time of signing are also subject to change.  The fees for each lot are generally not finalised until completion of the contract, therefore there’s significant risk they can blow the budget further down the line.  The intricacies contained in the special conditions generally allow no provision for dispute resolution or a “change of mind” – the purchaser is locked in. One of the few benefits (aside from stamp duty savings) when purchasing new or off-the-plan developments is the compulsory seven-year warranty period on building defects, including a preliminary period during which internal defects can also be addressed.  This sounds great, however the risk comes in the “untold” details.
Also – exemptions do apply – for example, unit blocks higher than three storeys (in Victoria at least) are exempt from providing a warrantee period and in some instances, the warranty is only applicable for works valued in excess of $12,000. Furthermore, it’s important to note that the bank cannot not provide a carte blanche guarantee they will lend against the development until construction has been completed.  Even with a pre-approval the final box isn’t ticked until a valuer can inspect the finished product.  During the period of construction – which can easily take in excess of 12 months or more – the market may have fluctuated downwards and therefore there’s a significant risk the valuation could fall short of the contract price.  The purchaser may have to come up with an extra $10,000 or $20,000 to complete the contract of sale or risk losing their deposit all together. Finally, off-the-plan advertisements are often aimed at the investor, with temptations such as rental guarantees and potential capital growth.  The truth once again can belie the promise.
Rental guarantees are typically added onto the purchase price.  The developer may promise a 7% yield for the first 12 months or more, however once this period has expired, it’s highly unlikely the purchaser will be able to attract a similar amount on the open market.  The tenant renting the unit in the interim will not be paying the equivalent of 7% yield – rather the developer will be making up the shortfall (all accounted for in the asking price) for the period specified.
The shock to the purchaser’s budget once the guarantee has expired and the unit only attracts comparative rental can be significant.  Some may find they’re unable to meet their mortgage repayments.
 
<hr class="system-pagebreak">
 
In terms of capital growth, remember buying “new” comes with a premium attached. As with a new car compared with the ex-demo model, a well-advertised and presented development can boost demand (both foreign and local) more so than a similar second-hand equivalent that has lost its initial cut and polish.  Therefore, unless the investor is in it for the long run, he may find himself selling at a loss, or experiencing negative equity prior to any long-term growth. All off-the-plan sales come with risks attached.  This doesn’t mean a purchaser need rule them out altogether – however it’s essential they walk in with eyes wide open and minimise the liability involved. A good developer will generally aim to please and complete the contract as promised, however there are no guarantees and the purchaser must allow for this
Before you buy in to the government incentives read the tips below.  You may well decide to leave off-the-plan sales for foreign investors and stick to the security of real estate you can touch before you buy.
<ul>
<li>If possible, check the builder's previous developments and get a feel for the quality and finish </li>
</ul>
<ul>
<li>Allow for the “worst-case scenario”.  Should the development fall through or fail to settle within the specified period, make sure there’s a back-up plan that won’t leave you homeless while searching for a plan B.</li>
</ul>
<ul>
<li>Read the fine print – get the contract checked – and understand the worst of the risks involved before signing on the dotted line.</li>
</ul>
<ul>
<li>Try and negotiate a deposit bond rather than cash.  Should the developer become insolvent or disappear prior to construction, tracing a cash deposit may be difficult.</li>
</ul>
<ul>
<li>Ask lots of questions!  Can you visit the site prior to construction?  Will you be consulted if changes occur to the specified plans?  Where will the deposit be held? (Usually a deposit sits in the real estate agency’s trust account and doesn’t accrue interest; however this isn’t necessarily the case with off plan developments.) Can you exit the contract if the development fails to be completed on time? </li>
</ul>
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
</body></html>

catherinecashmore-6LXia3pPQj

Off-the-plan properties are a risky acquisition

<html><body>
People who allow themselves to be lured by developer incentives into buying new apartments deserve the dud investment they’re getting. 
Quality properties for which there is genuine demand don’t need to offer incentives to buyers. The existence of incentives is a warning sign for buyers to look elsewhere. 
Melbourne’s inner-city unit market is the standout example. For the past 18 months I’ve been urging buyers to steer clear, because the level of new product being built is bordering on the ludicrous. 
Demand for real estate is weak in Melbourne, and the only way developers can stir up sales is to offer inducements or sell product in distant locations like China. Both are happening, and both serve as danger signals for buyers. 
Sadly, Melbourne newspapers have been breathlessly characterising the building frenzy as a boom, highlighting the impressive statistics rather than warning people that the situation has “oversupply” written all over it. 
One journalist notes that 6% of national building approvals are focused on inner-city Melbourne, with over 5,000 new apartments approved in the CBD, Docklands or Southbank in the past year. 
That brings to 21,000 the number of new units in the development pipeline. A metropolitan newspaper journalist who should know better described this as developers “meeting the demand for inner-city living”.  
It’s nothing of the sort. It’s developers allowing greed to over-ride common sense, supported by buyers who conduct research by reading newspaper headlines. 
They are likely to end up with investments with falling values and little demand from tenants. The incentives that inspired them to buy will mean little when that happens.
This is happening at a time when the Melbourne market is weak, the state economy is falling, jobs are being cut by the state government and major businesses, and the state’s grants to first-home buyers have ended.  
Melbourne developers have responded by offering discounted prices, rebates, cars, holidays and furniture to get signatures on contracts. 
The greatest trap in the history of apartment buying, the rental guarantee, is also being rolled out. Anyone who buys an apartment because the developer is “guaranteeing” the rental income has been living in a cave for the past 10 years during which dozens of similar deals have ended in tears for investors. 
One developer, having failed to clear stock by cutting up to $200,000 from individual unit prices, offered a $65,000 car to lure buyers. Another offered a tropical holiday for two. Some have offered rebates of up to $20,000. 
All these measures have one thing in common: desperation. Not even the Gold Coast, where the unit market has been undermined by oversupply for the past five years, has resorted to such largesse. 
The Gold Coast, however, is an object lesson for anyone inclined to ignore the warning signals in Melbourne. The median price for an apartment in Surfers Paradise today is almost 10% lower than it was five years ago. It’s the same in neighbouring Broadbeach, according to data from the Real Estate Institute of Queensland. 
At Hope Island, on the northern fringe of the Gold Coast, the median apartment price has dropped 26.5% in the past five years. 
At Noosa Heads on the Sunshine Coast, a market traditionally favoured by Melbourne investors, the median unit price has dropped 22% in five years. Many other markets around the Sunshine Coast are also in negative territory. 
These sorry results are not the norm in Queensland real estate. Quite the opposite. Many markets have appreciated at least 50% over the past five years. The ones that have gone backwards are the ones where brainless developers have built too much new product. 
Melbourne developers have opted to ignore those lessons. Perhaps they think they can defy the laws of supply and demand. They will experience the same disappointments as developers and builders who went broke in Queensland. 
Sadly, mum and dad investors will sink with them.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
</body></html>

terryryder-YECXbqmri2

If you buy a unit because of a developer's incentive, you deserve your dud investment: Terry Ryder

<html><body>
The old real estate mantra of “the worst house in the best street” stood tall this weekend.
For those who want to have a harmless punt, there's now a tipping website, <a href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/2012/08/ravenst.jpg">
In Melbourne the stunning house at 13 Raven Street, Kew (pictured above), failed to ignite the buyers' interest when it was passed in on a vendor bid of $3 million. In the current market buyers are looking for an upside in their investment, but the developers had milked out every drop of value in this property. The property sits on only 350 square metres of land and had been developed to an inch of its life.
In contrast 15 Waratah Street, Haberfield, in Sydney sits on over 700 square metres of land and was so highly sought after one buyer could not wait for the auction and paid $200,000 above the $1.9 million-plus quote. While it is not the worst house in the street, it is dated and offers the buyer some potential to add value.
<img src="/images/stories/2012/08/waratah.jpg">
These results show that regardless of the strength of the property market savvy buyers are always looking for value. In this case value was found in a house with potential on a good plot of dirt!
</body></html>

Auction tipping competition results show the value of ‘the worst house in the best street’

<html><body>Australian Property Monitors (APM) has released a list of results from 266 auctions in Sydney for the weekend of August 11. The clearance rate was 59.4%. <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>

po-LsXgBTHBmX

APM's 266 Sydney auction results show 59.4% clearance rate

<html><body>
ANZ forecasts mining projects to peak at around $37 billion in 2014 in its August Major Projects report.
Mining sector investment
Click to enlarge
<a href="/images/stories/2012/08/anzaug131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/anzaug131thumb.gif"></a>
Source: ANZ
Overall the bank expects infrastructure project investment to peak earlier in 2013 under revised projections, but to a higher peak.
"This largely reflects improved estimates of the timing of expected capital expenditure across years for the major LNG [liquefied natural gas] and coal projects," says ANZ.
Click to enlarge
<a href="/images/stories/2012/08/anzaug132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/anzaug132thumb.gif"></a>
Source: ANZ
ANZ says the majority of infrastructure investment will be concentrated in the mining and energy sectors, with the investment pipeline across these two sectors totalling $380 billion between 2012 and 2016.
Given the concentration of investment in the mining and resource sectors and related infrastructure (i.e. ports,railways and harbours), the resource-rich states of Western Australia, Queensland and Northern Territory will receive the lion’s share – around 75%, or $450 billion – of the total investment expected over this time frame.
Click to enlarge
<a href="/images/stories/2012/08/anzaug133.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/anzaug133thumb.gif"></a>
Source: ANZ
</body></html>

Australian mining project investment to peak in 2014: ANZ

<html><body>
The Reserve Bank held the cash rate at 3.5% this past week, leaving a lot of business owners none the wiser as to the future state of the economy. But in your own business, you get to decide the value of money as it performs for and within your enterprise. There are eight key segments worth considering:
Spending: When you look at your business, what are you spending on? What are your costs and do all of them contribute to creating revenues? Ask this: if I stopped this expenditure right now, what would happen to my business?
Saving: Many businesses put cash to one side to ensure they can pay essential costs. How much is your savings earning you? Many business owners stash cash in a legacy cheque account, and it may be paying zero interest. Yet there are high-interest rate accounts out there and the money is on-call. Make you money work.
Borrowing: One of the easiest ways to lose money from your business is to pay too much for debt. Whether it’s an overdraft, a term loan, equipment leases or corporate credit cards, have you fallen into a set-and-forget mindset with your finance? Do regular health checks of your debt, or get a finance broker to do it for you.
Repaying: At the end of a finance facility, do you know the most cost-effective way to go forward? Do you know all of your options and how much they will cost you? Sometimes it’s better to roll over a facility and other times it’s better to pay out a loan as fast as you can. You should know what value you get from debt before taking it, and set your repayment strategy accordingly.
Protecting: How do you protect your revenues? There are lot of interesting business insurances, but you have to know to ask for them. It’s worth engaging a broker and seeing what he or she would put in place – the entire rationale for running a business is to create revenues, and if you lose them, you have no business.
Investing: Whether you take out dividends to invest personally or the business buys commercial property, it’s worth thinking about how to make surplus funds work smart, and it’s always worth consulting an expert. This is how I think about it: those investment funds should work as hard as you worked to earn them in the first place.
Tax efficiency: You can’t run a business without dealing with the ATO. And you are taxed according to your legal structure or status. I advise business owners to stay close to their accountants and to make sure that they are paying the right amount of tax.
Budget: Your business budget is not just a road map, but it’s also your official statement about what is critical and what is merely a wish list. It assigns a value to money. If you feel you’ve lost your way with budgeting, engage an expert. It’s your money – value it!
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
</body></html>

mbouris-tauSvXGAM2

The RBA does not determine your business’s finances – you do

<html><body>
Analysis in any field is meant to be a process of gathering information and drawing objective conclusions from the evidence. 
But that’s so last year. The modern way in Australia is to establish conclusions first and then seek evidence that supports it. Anything that doesn’t fit the pre-determined theory can be quietly ignored. 
Then you apply the old principle that if you repeat a lie often enough, people will eventually accept it as the truth. 
Analysis today often starts with the media sound-byte and works backwards from there. 
This is how we have arrived at the “reality” of a two-speed economy. The idea is trite, infantile, pathetic and plain wrong. 
But it’s there every day in headlines and articles and broadcasts – as an unchallengeable fact. Even though it’s a lie. 
National Australia Bank chief executive Cameron Clyne says talk of “a two-speed economy” is simplistic, incorrect and damaging to confidence. 
“It is not a two-speed economy,” he said, “It has never been a two-speed economy. It is a 10-speed economy. It always has been a 10-speed economy and always will be a 10-speed economy. There are a number of industries which are having very buoyant times – just as there are a number of industries that are struggling.”
When the ABS published data on jobs creation in June, most media coverage focused on the number of jobs created in the mining industry, with more references to the two-speed economy. In doing so they ignored the inconvenient truth that mining ranked only third for jobs creation. 
The leading economic sector in Australia in the past year is the “professional and scientific sector”, which puts mining in the shade on jobs creation. Number two is the health care industry. “Education and training” has also been a positive force in jobs creation recently. 
These sectors have received no publicity, amid the media’s obsession with resources as the only happening thing in our economy. Nor has the agricultural sector been given its due for the series of bumper results for commodities such as wheat and cotton. 
The vitality in multiple economic sectors explains why some of the strongest regional economies in Australia have little or nothing to do with mining. 
Townsville in Queensland is one of the best, because it is strong in multiple sectors, including tourism, government administration, the military, education and manufacturing – with some linkages to the mining industry also. 
Ballarat in Victoria is one of the unheralded stars of economic Australia, a place of bustling activity in many different spheres. This important regional city is strong in education, health and community services, tourism and manufacturing (a sector which is not dead, notwithstanding all the negative headlines). 
Ballarat is growing and plenty of new things are being built. I could make similar comments about nearby Bendigo, too. 
Whenever I mention Dubbo in the same sentence as the word “hotspot”, people are incredulous. For some reason no one expects anything exceptional to happen in places like Dubbo. But this is a vibrant regional city moving forward with increasingly large strides. 
It’s a strong regional centre for the Orana district of New South Wales, with big roles to play in education, medical services, support for agriculture, transport and logistics (it sits at the intersection for major routes road, rail and air transport) and tourism (it has the Western Plains Zoo, among other things). Developers are busy and lots of construction is happening, including work on residential, retail, commercial, wind farm and National Broadband Network projects. 
Centres like Townsville, Ballarat and Dubbo would not be pumping if mining was the only show in town.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
</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