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?

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44 Timbs Street, Ulladulla, NSW, 2359
<img src="/images/stories/timbsst.jpg">
The tenants of this three-bedroom house are paying $270 per week and are on an expired lease. Raine &amp; Horne listing agent Lyn Chambers says this is at market rent, and the tenants are keen to stay on. The property is close to walking tracks and parks, and the 807-square-metre block includes a garage.
Chambers <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/properties/209254" target="_blank">is marketing the property </a>with price hopes of $250,000 plus. If it sells for $250,000 that would secure an investor a gross rental yield of 5.6%, significantly above the indicative gross rental yield of 4.4%, 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 $6,000 and over five years to be $18,000.
The median house price in Ulladulla fell by 9.7% in the past year, according to RP Data.
The property will go to auction Saturday, April 28 at 11am.
For more about prices and yields in <a target="_blank" href="/news">Ulladulla, see the RP Data suburb page</a>.
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cknowlton-QnEa6ntUYP

Friday form guide: Yields of up to 5.6% in Ulladulla

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The Melbourne suburb of Elsternwick has been the stand-out performer in the first quarter of 2012, managing an auction clearance rate of 84%, according to figures compiled by the Real Estate Institute of Victoria (REIV).
Elsternwick, nine kilometres south east of the Melbourne CBD, was one of just five suburbs to achieve an auction clearance rate of 80% or more, well above the overall Victorian average for the quarter of 62%.
The second and third best performing suburbs – Mitcham (82%) and Mill Park (81%) – are both outside the inner-city ring, indicating that quality of homes is driving demand at the moment, not a particular price point.
Mitcham lies 20 kilometres east of the CBD, and Mill Park is 23 kilometres north-east of the city.
The inner-city suburbs of Fitzroy and North Melbourne both managed auction clearance rates of 80% over the quarter.
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="132">
 
</td>
<td valign="top" width="124">
No of auctions in March quarter
</td>
<td valign="top" width="102">
Sold under the hammer
</td>
<td valign="top" width="148">
Price range
</td>
<td valign="top" width="111">
Median house price*
</td>
</tr>
<tr>
<td valign="top" width="132">
Elsternwick
</td>
<td valign="top" width="124">
38
</td>
<td valign="top" width="102">
32
</td>
<td valign="top" width="148">
$254,000 - $2.1 million
</td>
<td valign="top" width="111">
$1.2 million
</td>
</tr>
<tr>
<td valign="top" width="132">
Mill Park
</td>
<td valign="top" width="124">
31
</td>
<td valign="top" width="102">
22
</td>
<td valign="top" width="148">
$305,000 - $676,000
</td>
<td valign="top" width="111">
$410,000
</td>
</tr>
<tr>
<td valign="top" width="132">
Mitcham
</td>
<td valign="top" width="124">
27
</td>
<td valign="top" width="102">
22
</td>
<td valign="top" width="148">
$369,000 - $805,000
</td>
<td valign="top" width="111">
$587,500
</td>
</tr>
<tr>
<td valign="top" width="132">
Fitzroy
</td>
<td valign="top" width="124">
20
</td>
<td valign="top" width="102">
16
</td>
<td valign="top" width="148">
$407,000 - $1.79 million
</td>
<td valign="top" width="111">
($896,500
</td>
</tr>
<tr>
<td valign="top" width="132">
North Melbourne
</td>
<td valign="top" width="124">
40
</td>
<td valign="top" width="102">
32
</td>
<td valign="top" width="148">
$320,000 - $1.32 million
</td>
<td valign="top" width="111">
$740,000
</td>
</tr>
</tbody></table>
Source: REIV, *RP Data
Among those properties to sell in Elsternwick over the three-month period was this <a target="_blank" href="https://www.realestate.com.au/property-unit-vic-elsternwick-107136867">two-bedroom over-55 retiree unit (pictured below) in a complex of 20 apartments on Orrong Road</a>, which sold for $495,000 through Celestine Eramo for ASL Real Estate Doncaster.
<img src="/images/stories/elst1.jpg" width="470">
Another property to sell was this <a target="_blank" href="https://www.realestate.com.au/property-house-vic-elsternwick-109112646">three-bedroom house on Gardenvale Road</a> (pictured below), which sold for $940,000 through Biggin &amp; Scott Elsternwick.
<img src="/images/stories/elst2.jpg" width="470">
Elsternwick is situated close to the Balaclava and Glenhuntly Road shopping strips and Malvern Central shopping centre and has a median house price of $1.2 million, according to RP Data.
Knight Frank sales director Andrew Swinson recently described Elsternwick as “traditionally a very well-performing suburb with positive growth statistics and impressive potential for capital growth”.
The REIV’s Robert Larocca says a review of the suburbs with the highest clearance rates in the first quarter tells you a lot about the local market right now.
“Firstly, it shows that some places are defying the overall trend.
“Secondly, the lack of a clear defining common theme shows that it is the location and quality of the homes for sale that is driving demand, rather than pressure at one particular price point,” he says.
Larocca says buyers and sellers need to fully understand the local market they are buying and selling in “lest they turn up to an auction believing only six in 10 are selling under the hammer when, in fact, eight in 10 are – as in Mill Park, for instance”.
The March quarter clearance rate of 62% was up on the December quarter clearance rate of 55%, but lower than the 67% clearance rate in the March quarter.
The volume of auctions held was 17% lower than at this time last year, 9% cent lower than at this time in 2010 and 74% higher than at this time in 2009.
According to the REIV, auction and private sales achieved similar outcomes for vendors over the quarter.
The median price of a house sold at auction increasing by 2.3% from $700,000 in the December quarter to $716,500 in the March quarter.
For a house sold by private sale – as about three out of four are – the median price increased by 1.1% from $465,000 to $470,000.
 
 
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lschlesinger-FZcF9M3vE6

Buyers sold on Elsternwick, with highest auction clearance rate in Melbourne in March quarter: REIV

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Over the past few weeks <a href="https://www.propertyobserver.com.au/developments/pre-sales-essential-to-selling-modern-developments/2012040354129" target="_blank">we have examined</a> how a <a href="https://www.propertyobserver.com.au/developments/before-starting-a-registrations-of-interest-campaign-outline-clear-goals-peter-chittenden/2012041654305" target="_blank">well-managed registrations-of-interest  (ROI) campaign</a> structure <a href="https://www.propertyobserver.com.au/developments/the-ways-in-which-to-use-pre-sales-and-registrations-of-interest/2012032654012" target="_blank">is required to ensure that a quality plan</a> is seen as the imperative of all activity in this popular area of project marketing and that tangible sales result.
We have established that from the first stages of planning every step is important, including key elements of how information is collected and managed and how consumers are engaged and motivated so that they see real value from their involvement.
Well-managed campaigns with a solid and creative structure can and have produced very good results. But there have also been some very poor examples where a great deal of time and effort has been wasted. The good examples will help produce solid sales and thus give any early bounce to a project.
Poor examples not only fail to leverage the ROI campaign but can go further and have a negative long-term impact on a project.
ROI campaigns also need to reflect the current market conditions; while these campaigns always need to have a well-managed structure they also need clever creative thinking. That in turn reflects market conditions and brands each project in the most appealing way.
The creative ideas and how the campaign is communicated needs to match the prevailing market conditions. An idea that worked during a strong market will not work or will be less successful when markets are not buoyant. Or likewise when a market is filled with contended tribes of purchaser that are of a particular demographic, the creative again needs to speak to this audience, not what the personal preferences are of the project team.
While some ROI campaigns can be achieved with less expenditure than a traditional marketing release, the expenditure does have to be balanced with the anticipated results.
The central aim needs to ensure that people who do register will ultimately be interested and able to move to a paid expressions-of-interest and perform on the launch day to an exchanged contact.
It can also be a mistake to peak interest among buyers too far in advance of the project’s release. While some potential buyers will always be happy to have a long lead time, others will not. This will mainly be a fact determined by the different target groups involved with each stage of a campaign.
Some potential buyers may be sourced from already well qualified existing client lists including repeat buyers, experienced investors including investment networks, friends and associates of a project and buyers on an active ‘early-bird’ list. For some projects these groups would also include off-shore markets, which will require very experienced engagement. [Because this is a very unique area of property marketing, I will look at off-shore markets in a future series of posts.]
The common thread being that these groups are not usually entry-level buyers, but are targets that know the market or the project and want to be involved.
The structure of the ROI campaign can be such that consumers have to take several steps in the registration process. Simply collecting for example a large on-line database might be a waste of time if anyone who registers is not substantially pre-qualified at some stage in the campaign.
Almost all data ages and becomes stale very quickly.
Areas of high demand
But with well-managed data one method is to contact people on existing databases and ask them to register their interest in a new project should they be ready to move to their next purchase. The ideal way to make a final qualification of a ROI enquiry is to require that a refundable deposit is made to secure their place in the queue.
Some ROI campaigns in a strong market or where the appeal of a property is highly competitive can and do require potential buyers to pay a (refundable) registration ‘fee’ of $5000, $10,000 or $15,000 to secure their interest to preview and purchase a property at launch.
Such registration campaigns can be very successful as the act to pre-qualify buyers and create a sense of urgency, and when conditions are suitable and demand is strong they work in areas even when more general conditions are less than robust. It is all a matter of understanding the local conditions, having the right product mix and solid planning.
However such ‘deposits’ are not always possible or even advisable and if mistimed or used with inadequate market knowledge then the circumstances can backfire and damage a project’s possible success.
Despite all of the industries experience and the detailed insights discussed over recent weeks, ROI campaigns are not universally suitable for all projects. I can’t stress enough, if not done correctly, they can cause more harm than good. Despite a trend that has seen the idea become very popular – do not be fooled! ROI and launch campaigns are not as easy as they appear – they require years of experience.
It is easy to understand this popularity as a successful campaign can save money and as already outlined help secure sales that underpin a project and influence prices in a very positive way.
There are alternatives to the ROI campaigns that can be considered where the activity is driven by quality databases from assigned groups such as local agents, investor groups or buyers agents.
In this instance there is typically a campaign that is undertaken with the support of specific media that revels just enough about a project to secure people’s interest. There is a need to be ‘in-market’ even when selling through databases to provide confidence and assurance the project is genuine. If well managed these campaigns, while involving a reasonable amount of media investment and exposure, can be very successful.
This adaptation however requires the ability to be able to offer the project as ‘market-ready’ so that prices are set with contracts able to be exchanged so that potential buyers only act out of genuine interest rather than joining a database in anticipation of a future launch. This format of pre-release campaigns usually only operates on very short time frame. The key aim is to secure demand in a particular target group.
Whisper or off-market campaigns
While ROI campaigns and limited release campaigns do involve a varied degree of public exposure of the project, there is another option to act on prior to being ‘on-market’.
A whisper campaign that does not involve any formal marketing because it is a strategy based upon existing market contacts and reliable blue chip contacts.  It is a strategy based upon, literally a whisper, which could be these days one based around social media between already well-known and reliable parties associated with a potential project about to be taken to market.
Networking
‘It is not what you know but who you know' – a phrase that has been used endlessly to describe the value of networking.
In marketing terms networking is very powerful and in some very practical ways plays an important role in the project marketing environment. While the high-end of the market can be a very fertile ground for networking it has many varied and surprising applications at almost every level of the market and will in future be a more fertile ground thanks to social media.
The notion is tied very much into the power of word-of-mouth or personal recommendation… ‘a word in the right ear can move mountains’. It has been suggested if you could go and talk personally to every potential consumer face to face you would have the ideal marketing tool.
In its modern form networking via social media and eMarketing is an everyday reality as both rely upon an idea being spread in a targeted way without the direct use of traditional media or at least within limitations as traditional media is still very relevant.
So powerful is networking the idea has kept pace with and even lead some aspects of today’s communications. Every time a consumer gives their email address to a supplier or any organization to receive online details of this or that product or service they are in fact agreeing to become part of a network.
The reason for the willingness is the expectation of getting in ahead of the wider community on some news, offer or deal that may be offered.
So networking can cover a wide spectrum of applications from a direct email, a tweet or telephone call to a well-placed friend or associate about an opportunity or through the use of a blog on a social network site to spread some good news.
However, before taking on any of the alternative ROI strategies we have discussed, one overriding fact remains the chief ingredient in any campaign: the need to pre-qualify any person who expresses interest in a project so that when the property is released and on the market the required sales result is secured.
Peter Chittenden is managing director for residential of <a target="_blank" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International</a>
 
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pchittenden-eLqUUC8TWW

The structure of a registrations-of-interest campaign will vary depending on the project

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A number of developer and builder incentives aimed at encouraging the take-up of new houses and apartments will soon come to an end around the country.

The schemes range from grant top-ups to gift vouchers to cashback offers.
<img src="/images/stories/convesso4.jpg">
First to go will be Lend Lease’s luxury furniture and interior design offer for its <a target="_blank" href="https://www.convesso-convaco.com.au/">Convesso Concavo apartment project</a> (pictured above and below) in Melbourne’s Docklands, which expires on April 30.
<img src="/images/stories/convessooffer.jpg"> 
The developer is offering gift vouchers ranging in price from $15,000 to $60,000 depending on the type of apartment. Luxury harbourside apartments range in price from $465,000 to $3.15 million.
Up until May 13, Stockland is offering to <a target="_blank" href="https://stacksmore.stockland.com.au/">triple the $13,000 Victorian first-home bonus to $39,000 for first-home buyers in five of its residential communities</a>, taking the total incentive when the first-home owners’ grant is included to $46,000. The residential communities that qualify are Highlands, Mernda Villages, Eucalypt, Selandra Rise and Arbourlea.
Other incentives being offered by developers and builders include:
<ul>
<li>In WA <a target="_blank" href="https://happyhousewarming.com.au/">home builders Bluprint Homes and nuhomes in conjunction with St George Bank</a> are offering a $2,000 cashback for the first 25 home buyers who sign up to build a new home by June 23 with either building brands and take out a home loan with St George Bank. 
</li>
<li>Also in WA, the <a target="_blank" href="https://www.wahousingcentre.com.au/returnofthe21kgrant">WA Housing Centre is offering to triple the first-home owners’ grant</a> to $21,000 on some of its Perth residential communities 
</li>
<li>Also in WA <a target="_blank" href="https://www.dalealcock.com.au/32kbonus/">Dale Alcock homes is offering for a limited time a $32,000 bonus package</a> including ducted air-conditioning, wall painting and floor coverings 
</li>
<li>In Queensland, <a target="_blank" href="https://www.coralhomes.com.au/default.asp">Coral Homes</a> is offering a $22,000 discount on two-storey Eclipse homes and $15,000 off single-storey Eclipse homes as well as $81,400 worth of luxury inclusions as standard items.</li>
</ul>
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Time running out for incentives from builders and developers, with Convesso Concavo offer the next to expire

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The Western Australian economy is performing so well it’s leaving the rest of the country behind, according to the latest CommSec report into the states’ economies, although it warns the Australian Capital Territory is at the highest risk from spending cuts in next week’s budget.
The quarterly report into the country’s state-based economies reveals some disturbing trends – the Queensland economy in particular is suffering due to a lack of support for housing, while Tasmania’s economy has experienced the “greatest slippage”.
However, the rest of the country is still performing well, with each state shining in different metrics.
The Western Australian economy is performing so well, CommSec economist Craig James says the country needs to be evaluated in two separate metrics – with Western Australia, and without.
“In the last two quarterly reports, we judged that Australia’s multi-speed economy could more accurately be described as a three-speed economy,” James says.
“But in the latest report the best way to describe the situation is Western Australia first and daylight second.”
Western Australia leads the way on economic growth, construction work, unemployment, retail trade and equipment investment – and second when it comes to population growth.
Dwelling starts and housing finance were the only black spots on WA’s record, out of the eight metrics used to judge each economy. ACT and Victoria were in the “second tier” of economies, with both out-performing housing indicators and Victoria positive on retail spending.
Queensland, New South Wales and South Australia are all in the next “tier”. Queensland is benefiting from restructuring work, while New South Wales is growing strong on population growth.
Tasmania has suffered the worst, lacking momentum in “key areas”, with the state now alongside the Northern Territory, which has strong retail spending but low population growth.
However, there are bright spots. Both Victoria and the ACT are winning when it comes to housing indicators, and Victoria’s retail spending remains high, and Queensland is still enjoying a significant amount of rebuilding work.
<h3>Western Australia</h3>
The state is leading the rest of the country in most metrics. Economic output was just over 32% higher than the state’s decade average, while it’s also taken the top ranking for retail trade with spending in the December quarter almost 21% above decade average levels.
It also remains “well above” other states and territories with equipment investment, and a strong jobless rate of 4%. Construction work is 82% above decade averages, although it’s second for population growth, at 2.63%.
It’s also equal third for housing finance, alongside New South Wales. Dwelling starts were also 15.2% below decade averages.
<h3>Victoria</h3>
Victoria’s jobless rate may be increasing, but its retail trade is 14% above decade averages. And
equipment investment was down by 3.2%.
However, construction activity is increasing, with the state in the second place for housing finance, and dwelling starts 14% above decade averages.
Victoria’s set to hold its spot in the top three despite that slowdown in the housing market, although CommSec says greater investment from public and private sectors could help it maintain momentum.
<h3>ACT</h3>
Economic growth in the ACT is up 18.2%, although retail trade is poor – below all other states. The jobless rate is 3.6%, although that’s actually 5% higher than the normal or decade-average level.
Housing finance commitments are actually strong, however, with the number 6.2% above the decade average, with commitments also 3.3% higher than a year ago. Dwelling starts are also “head and shoulders” above the rest of the states, based on strong population growth – one key area of hope.
<h3>New South Wales</h3>
New South Wales joins the ACT with the weakest retail trade in the country, and economic growth is also poor.
However, there are bright spots. The jobless rate of 5% is below the decade average of 5.3%, and housing finance is also equal third with Western Australia.
<h3>Queensland</h3>
Despite some of Queensland’s economic troubles the state is actually performing extremely well, with economic growth at the fastest rate in the country at 9.8% – even ahead of Western Australia.
Retail trade is also strong, although it comes under Victoria’s level of 14% above decade averages. Equipment investment is up 40%, the population growth is the highest recorded over the past year – although housing finance is down 22%.
Dwelling starts were also down 34.9% below decade averages, and starts in the December quarter were down 12.1% than a year ago – CommSec notes housing is the state’s biggest weakness.
<h3>South Australia</h3>
Retail trade remains strong, alongside Queensland after Victoria at the top, and the jobless rate is actually quite strong at 5.1% – 6.6% below the longer-term average of 5.45%.
However, South Australia remains one of two states where real wages were negative – along with the ACT. Retail spending is up, but only by 0.3%.
The state seems to be performing well with no major negative or positive factors, CommSec says, although that’s due to the relatively low unemployment.
<h3>Northern Territory</h3>
Economic growth has remained weakest in the Northern Territory, alongside New South Wales and Tasmania.
However, retail trade has remained high, in second place, due to low unemployment with just a 4% jobless rate. That’s 9.9% below the long-term average.
And while construction work is above the long-term average, it’s only up by just 0.6%. Engineering work – a driving force for several economies including Queensland and Western Australia – is down by 4.6%. However, CommSec expects that to improve.
Construction work hit a two-year high in the December quarter, and is actually up 43% from last year, which is the fastest rate in the country.
CommSec notes it has the potential to climb its way back up, with the $34 billion LNG Inpex project to have “enormous multiplier effects” on the economy.
<h3>Tasmania</h3>
The island state is performing poorly. Economic growth is the weakest, at negative 1.6%, while retail trade is also at the slowest in the country.
Equipment growth is strong, up 45%, although the jobless rate has risen from 5.1% to 7.2% in the space of just seven months – that’s 18% above the decade-average.
Construction spending is down 12.2% from last year, and population growth is up just 0.55%.
However, there is some good news, with dwelling starts and equipment investment suggesting higher growth in the pipeline.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
 
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pmcstafford-pr9eMARWoN

Western Australia first, daylight second in CommSec “state of the states” report

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Capital city auction clearance rates firmed, but agents suggest there’s no sign of rising prices.
Melbourne’s clearance rate was 61%, up from the previous 54% result, according to the Real Estate Institute of Victoria.
Sydney’s clearance rate was 58.9%, up from the previous 55.3% result, according to Australian Property Monitors.
There was a $770,000 median house price sale in Sydney and a $674,000 median in Melbourne.
For units it was a $610,000 median in Sydney and $494,000 in Melbourne.
The market could get a boost in May were the Reserve Bank of Australia to reduce the cash rate by a widely expected 50 basis points.
“The increase in the Melbourne clearance rate is a positive sign that confidence in the residential market may be starting to improve,” REIV Enzo Raimondo says.
“If the next interest rate movement is a reduction, as is speculated, and that is actually passed on by the retail banks to borrowers it may further increase activity over winter,” he anticipates.
Noel Jones agent Adrian Jones says his agency sold five out of its six auction listings in Melbourne’s eastern suburbs, but there was no sign of rising prices.
"It's not a market where prices are going up much," Jones told Fairfax Media.
Agents <a href="https://www.propertyobserver.com.au/residential/buying-property-in-early-winter-demands-a-change-of-tack-mal-james/2012041654302" target="_blank">including buyers' agent Mal James have commented on the lack of new stock on the market</a>, with more sales taking place off-market and out of the public eye.
 
 
 
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jchancellor-FAypfDUnLy

Melbourne and Sydney auction clearance rates firming, but no sign of rising prices

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In Melbourne this weekend the first-home buyer and investor market is proving to be weak but the home buyer market is very strong.
There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">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/byrneave.jpg">
The one-bedroom apartment at 10/17 Byrne Avenue, Elwood (pictured above), failed to gather any real traction and was passed in on a solitary bid. It sold soon after auction for $450,000.
Unit 11 in the same block sold earlier this year for $510,000, and although this apartment was slightly bigger, it does illustrate a market with patchy demand.
<img src="/images/stories/thompsonst1.jpg">
The property at 57 Thompson Street, Drummoyne (pictured above), failed to get any interest at all. The Drummoyne property was quoted at $1.75 million plusand was withdrawn from sale prior to the auction.
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Melbourne first-home buyer weak, affordability key in Sydney as auction tipping competition properties struggle to get across the line

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Property developer Pacific Investments has created shock and excitement with his ramped-up rethink of the ‘Rozelle Village’ proposal for the Balmain Leagues club site in Rozelle.
The revised proposal, which is double the size of the original plan that was rejected in 2010 because it was considered too big, has prompted outrage from local activists. The Leichhardt mayor Rochelle Porteous labelled it as offensive to the local community.
The redesign, which is on public display for 59 days, is a $300 million project with two residential towers of 25 levels and 32 levels, plus a six-floor commercial hub. The plan for Victoria Road will have more than 300 apartments across 30,000 square metres, retail space on 20,000 square metres plus 7,500 square metres of commercial space. Balmain Leagues Club will be on 3,500 square metres, and parking for 800 cars is included.
Click to enlarge
<a href="/images/stories/rozelle1.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/rozelle1thumb.jpg"></a>
The original plan for a 17-level residential and commercial building was rejected in 2010 by the Joint Regional Planning Panel due to traffic congestion, its size and the effects it would have on local businesses. The Labor state government back then took control of the site, claiming that it was “significant” to the state. Now the NSW Department of Infrastructure and Planning’s Assessment Commission will decide the future of the site after the public display.
Rozelle Village managing director Ian Wright says the redesign was led by community consultation.
“For the nearly two years we had information sessions with interest groups and precinct meetings and found out that people want childcare, a building with green credentials and a supermarket, which we have included. They also wanted us to get rid of the bulky design, so we created a taller more slender design,” Wright says.
There will be public space with laneways for walkers, cyclists and pram pushing as well as an integrated public transport area.
“When the dust settles, I think people will really like it,” Wright says.
 
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andreadixon-oif3j7eKne

Balmain Leagues club site could become megasized Rozelle Village under Pacific Investments plan

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It is often said that the world is in the midst of the biggest economic transition in modern times. In short, the West is in the process of ceding economic power to the East.
The old Group of Seven – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America – have a combined firepower of $US34 trillion. The new G7 – China, Hong Kong, India, Korea (south, of course), Malaysia, Singapore and Taiwan –  have a combined GDP worth $US12 trillion (see postscript), but the Asian G7 (AG7) economies have been growing by 16% per annum since the GFC, which is four times faster than the old G7.
Remember, the eighth wonder of the world is the power of compound growth.
The AG7 countries have a massive population base, but very low incomes when compared with the West. The average income per capita across the G7 is $45,000; whilst across the AG7 it is just $4,200. Yes, Asia’s income levels have doubled over the last five years, but they are dwarfed by Western standards.
This world shift is a massive bonus to Australia, most obviously via the demand for mining and agricultural resources. This, in turn, is creating wealth in Australia, although not as evenly spread as many of us would like. The demand for luxury goods is, once again, on the rise.
Did you know that Australians have the fifth (yes, fifth) highest income per capita is the world? In US dollars, every Australian (yes, on average) earned $67,000 last year. The four countries above us in income rankings were Luxembourg ($122,000), Qatar ($98,000), Norway ($97,000) and Switzerland ($85,000).
House prices
According to data house, RP Data, house prices rose by 0.2% during the March quarter. This might not sound like much, but at least the result wasn’t a negative.
Now, while the CommSec super-luxury car sales index is a small one, it does a pretty good job at forecasting the direction of house prices across the country. This index shows that 126 top-end vehicles sold across Australia during March, which is up 22% on this time last year.
Over the last twelve months 1,129 super-luxury vehicles were sold. The record high was during calendar 2007, when 1,606 top-end rides were traded.
There is a close relationship with super-luxury car sales and house prices. The theory is that confidence levels repair first at the top-end of the market and then flow through to other asset markets. The rebound of the CommSec super-luxury car index suggests the housing market may also be poised to recover.
Now, I’m no car buff – just a four-wheel drive kind of guy – but I think Craig James and the boys at CommBank are onto something there.
It is always good, every now and then, to think outside the square. They just need to work on what they call stuff: ”super-lux index” reads heaps better if you ask me.
Struggle Street
I am getting tired of hearing about how more and more Australians are doing it tough. Despite what you might believe, most of us are not on “Struggle Street”. We are confusing what we “want” with what we “need”. I am as guilty as the next person.
Unlike almost anywhere else, Australia has had 20 years of uninterrupted economic growth, and continues at an enviable rate. Real wages have risen by more than 30% since 2005. In addition, we are close to full employment and we can afford to build some of the largest houses in the world.
The super-luxury set hasn’t done this by themselves. Most Australians must be doing well. Even inflation is tamed, and so much so that “cost of living pressures” has replaced “inflation” in public debate.
Now, there are people who are really doing it tough – and something like half a million in Queensland sadly live below the poverty line – but there are 4.6 million people in the state.
Yes, we are more frugal these days, with the average household putting aside 10% of after-tax income for future needs. Companies, too, are retiring debt and building up cash reserves. A decade ago, Australian households on average were not saving. Today, our saving rate is similar to the traditionally thrifty Germans and double that of the US.
So, what does it really tell us when one-third of Australians believe passion is the most important reason for taking a new job, while just 17% nominate a good salary? And in another poll, two-thirds of Australians say they are happy. There is nothing wrong with both sets of replies, but they don’t suggest that we are on Struggle Street – especially when Aussie mums are increasingly hiring “personal assistants” to help them with their day-to-day routines.
We desperately need to change the public debate.  We should be rejecting the nebulous “cost-of-living pressure” spin and change the focus away from “my personal finances” and towards creating world-class infrastructure, smart business incentives and helping those few with genuine difficulties.
 
Postscript
Oh, by the way, a trillion dollars = $1,000,000,000,000.  That’s 12 zeroes to the left of the decimal point. A trillion is a million million dollars.
It is nearly too big to comprehend.
But if you laid five dollar notes end to end, you could make a chain that stretches from earth to the moon and back again 40 times before you ran out of five-buck bills! If we still had one-dollar notes, one trillion dollars would stretch almost from the earth to the sun. Similarly, it would take an F 22 Raptor (a fighter jet) flying at the speed of sound and reeling out a roll of dollar notes behind it 14 years before it reeled out one trillion dollars.
And the super-lux index includes new passenger car sales from 10 marquees – Aston Martin, Bentley, Ferrari, Lamborghini, Maserati, Maybach, Morgan, Porsche and Rolls Royce. Why Jeep isn’t in this set is beyond me!
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
 
 
 
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Most Australians are not on Struggle Street but confuse what they want with what they need: Michael Matusik

<html><body>Australian Property Monitors (APM) has released a list of results from 275 auctions in Sydney for the weekend of April 21. The clearance rate was 58.9%. <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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