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>
The inner-Melbourne suburb of Abbotsford is becoming a development hotspot as the suburb sheds its industrial past and buyers look for inner-city living on the Yarra River.
Some developers are revamping the existing factory and warehouse buildings to create contemporary designs with a nod to the past, while others are going the more modern route.
<img src="/images/stories/trenerry-river.jpg">
One example of the former is the Trenerry project (pictured above and below), a 109-unit development in a heritage industrial building.
“It also features a chimney stack, giving Trenerry a look and feel that is unmistakably Abbotsford,” says Rob DiCintio, director of Trenerry Property Group.
<img src="/images/stories/trenerrycar.jpg">
Builder Hamilton Marino has begun construction on the development, which is due for completion in mid-2013.
The apartments went on sale in October last year, and so far developers Trenerry Property along with the Victor Smorgon Group and the Kanat family have sold 65% of the units, or $42 million in pre-sales.
Its one-bedroom, one-bathroom apartments are priced from $465,000, with the two-bedroom, two-bathroom apartments from $530,000. Both configurations come with one car park. Some 92 of the two-bedroom apartments will have two-bathrooms, along with all the three-bedroom apartments.
The average apartment size will be 75 square metres internally, plus all apartments come with balconies, offering riverfront, CBD or Studley Park views. The development comes with easy access to the Capital City Trail.
It has been designed by Carabott Holt Architects.
<img src="/images/stories/greensquare2.jpg" style="border-style: initial; border-color: initial;">
A developer taking the opposite approach in Abbotsford is Salta, whose Green Square development (pictured above and below) is ultra-contemporary with an emphasis on sustainability.
Far from an industrial focus, the appropriately named Green Square aims to embrace the natural environment, with numerous open spaces for residents.
<img src="/images/stories/greensquare1.jpg" style="border-style: initial; border-color: initial;">
“The architectural vision for Green Square is to bring together the energy of contemporary urban living with the calm and gentle amenity of the adjoining Yarra River that will imbue the green open spaces permeating the project,” says Charles Justin of SJB Architects, which is designing the project.
The development will feature 467 one- and two-bedroom apartments across four buildings, 210 one-bedroom units and 257 units with two bedrooms. Of the two-bedders, 222 will include two bathrooms.
One-bedroom apartments will range in size from 47 square metres to 57 square metres and start from $369,000.
<img src="/images/stories/greensquare5.jpg">
Two-bedroom apartments, which start from $525,000, range in size from 63 square metres to 92 square metres. All of the units come with outdoor areas.
<img src="/images/stories/greensquare6.jpg">
The development launched in February 2011, and thus far 62.5% of the apartments have been sold. Construction is due to begin in June of this year and finish in May 2014.
So far, two-thirds of buyers who have been owner-occupiers.
Jack Merlo of Jack Merlo Design says buyers are drawn to a sense of community fostered by the project.
<img src="/images/stories/greensquare7.jpg">
““The importance of recreational space is often overlooked when designing residential apartments – we have been fortunate to set a new precedent with Green Square. The combination of semi-secluded and open spaces encourages people to indulge in private and public amenities including an edge pool, barbecue areas, day beds and shaded spaces,” Merlo says.


<hr class="system-pagebreak">
Developer Hamton is taking a slightly different approach in the suburb, with its Haven development (pictured below), aimed at prestige buyers. Haven is the second of a three-stage development in the area, and the first, 201-unit Eden, sold out. The three together are set to have 560 apartments.
<img src="/images/stories/haven1.jpg">
“With Eden, we were overwhelmed with demand from owner-occupiers currently living in the affluent suburbs across the river from our site,“ says Hamton joint managing director Paul Hameister.
“They were looking for larger luxury apartments with high-end finishes, allowing them to downsize to a low maintenance lock-up-and-leave lifestyle in essentially the same location as their current home. We have sought to address this demand with Haven.”
The same demographic has snapped up Haven units, with 30% of the 148 units sold in the first fortnight of marketing in November last year.
Hamton sales director Cameron Yates says there has been in upturn in inquiries from and sales to high-end buyers since February this year.
<img src="/images/stories/haven2.jpg">
“We have seen a bounce in the market in the last month – particularly from the discerning owner-occupier looking for premium location and facilities,” he says.
<img src="/images/stories/haven3.jpg">
“Of the 24 apartments sold since the 6th February, 10 were priced over $900,000. Three penthouse suites sold for between $1.9 million and $2.3 million. Quality product and outstanding lifestyle amenity always have a place in the market.”
Haven will include a mix of one-, two-, three- and four-bedroom units. One-bedroom units will range in size from 41 square metres to 72 square metres internally and are priced between $365,000 and $581,000. Two-bedroom units will be between 66 square metres and 134 square metres internally and range in price from between $680,000 and $1.3 million. Three- and four-bedroom units will be between 124 square metres and 235 square metres internally and are priced between $1.38 million and  $3.9 million.
Between Haven and Eden will be Acacia Place, a series of landscaped spaces and a public walkway connecting the Yarra to Victoria Street. 
“One of the key elements of our master plan for the site is Acacia Place, which allows the public to share this unique piece of river bend and bring activity and vibrancy to the precinct,” Hameister says.
All three developers are making use of Abbotsford’s riverside location and open spaces.
“The desire for waterfront living in city-fringe areas is an evolving trend in the Melbourne market,” says Rob DiCintio, director of Trenerry Property Group.
</body></html>

cknowlton-QnEa6ntUYP

Inner-Melbourne suburb of Abbotsford becoming a development hotspot

<html><body>
Sydney and Perth suburbs, many of them in the cities’ outer rings, dominate a list of 42 top price growth hotspots for 2012.
The 42 suburbs have been cherry-picked from the “601 Top Suburbs” report compiled by Smart Investor magazine.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
Out of the 601 suburbs, only 19 are expected to show price appreciation of more than 5% with eight each in NSW and Western Australia and three in Queensland.
Indicating the subdued outlook for Victoria in 2012, only seven suburbs are forecast to deliver returns of 4%.
The NSW list is made up entirely of Sydney suburbs, with half of these in the outer west – a growth hotspot identified by the likes of <a href="https://www.propertyobserver.com.au/new-south-wales/hotspots-from-fibros-to-mcmansions-western-sydney-attracting-investor-attention/2012012953164" target="_blank">SQM Research director Louis Christopher and Douglas Driscoll, CEO of Starr Partners</a>.
The WA list indicates a developing hotspot south of Perth, with median house price in Thornlie, Canning Vale and Willetton expected to grow more than 5% in 2012.
The Queensland list is made up entirely of remote mining towns.
NSW top growth suburbs in 2012 (5% plus)
<ol>
<li>Cremorne Point units (north shore)</li>
<li>Hillsdale units (eastern suburbs)</li>
<li>Smithfield houses (outer west)</li>
<li>Five Dock houses (west)</li>
<li>Condell Park houses (outer west)</li>
<li>North Rocks houses (outer west)</li>
<li>Villawood houses (outer west)</li>
<li>Marsfield units (north west)</li>
</ol>
WA top growth suburbs in 2012 (5% plus)
<ol>
<li>West Perth houses and units</li>
<li>South Hedland houses (mining, Pilbara)</li>
<li>Willetton houses (south Perth)</li>
<li>Bassendean houses (north east Perth)</li>
<li>Port Kennedy houses (outer south Perth)</li>
<li>Thornlie houses (south east Perth)</li>
<li>Boulder houses (west Perth)</li>
<li>Canning Vale houses (south Perth)</li>
</ol>
Queensland top growth suburbs in 2012 (5% plus)
<ol>
<li>Moranbah houses (mining, Isaac region)</li>
<li>Blackwater houses (mining near Rockhampton)</li>
<li>Emerald houses and Units (mining, central highlands)</li>
</ol>
Victoria top growth suburbs in 2012 (4%)
<ol>
<li>McCrae houses</li>
<li>Kialla houses</li>
<li>Maryborough houses</li>
<li>Portland houses</li>
<li>Horsham houses</li>
<li>Red Cliffs houses</li>
<li>Miners Rest houses</li>
</ol>
South Australia top growth suburbs in 2012 (4% plus)
<ol>
<li>Roxby Downs houses</li>
<li>Ingle Farm houses</li>
<li>MunnoParaWest houses</li>
</ol>
ACT top growth suburbs in 2012 (4% plus)
<ol>
<li>Gungahlin houses</li>
<li>Monash houses</li>
</ol>
TAS top growth suburbs in 2012 (4% plus)
<ol>
<li>New Town units</li>
<li>Queenstown houses</li>
<li>Lenah Valley houses</li>
<li>New Town houses</li>
<li>Blackmans Bay houses</li>
</ol>
NT top growth suburbs in 2012 (4% plus)
<ol>
<li>Roseberry houses and units</li>
<li>Bellamack houses</li>
<li>Parap units</li>
<li>Stuart Park houses</li>
<li>Bakewell houses</li>
<li>Gunn houses</li>
</ol>
 
 
 
<ol></ol>
</body></html>

lschlesinger-FZcF9M3vE6

The 42 brightest prospects for price growth on Smart Investor's list of top 601 suburb hotspots

<html><body>
Auction activity will pick up significantly in Melbourne this weekend and to a smaller degree in Sydney, with just two weekends to go until super Saturday on March 31.
The Real Estate Institute of Victoria says there are 700 auctions planned in Melbourne compared with just 183 last weekend, but still fewer than the 956 auctions listed for the same weekend last year, which had a clearance rate of 64%.
The highest number of auctions will be in Hawthorn, with 15 homes on offer followed by 12 each in Northcote and Richmond.
The REIV expects auction numbers to reach to 1,000 by the March 31 weekend.
“The number of homes on offer at auction so far this year is comparatively low, so the increase stock levels should be welcomed by buyers,” says the REIV.
“A review of clearance rates shows a clear regional trend emerging of the inner city, inner east, inner south and north eastern areas performing above trend.”
Australian Property Monitors says there are 466 auctions planned for Sydney this weekend compared with the 380 scheduled for last weekend. However, this is still 15% fewer than the same weekend last year. 
Strathfield is again a popular auction location, with eight listings. Abbotsford, Leichhardt and Turramurra have seven listings each. 
There are 432 auctions scheduled for the following weekend (March 24th) with a “big weekend” in store for March 31st (the week before Easter) with 732 listings.
</body></html>

Melbourne and Sydney auctions pick up in countdown to Easter super Saturday

<html><body>
Renters are growing increasingly concerned about their job prospects, analysis of the results of the March Westpac- Melbourne Institute Consumer survey has revealed.
Unemployment fears among tenants have been on the rise since about March last year.
Over the same period fears about the job market have subsided among those already in the property market – those who own their homes outright or have a mortgage.
As a result, the outlook about employment prospects between the two groups (renters versus property holders) is diverging.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch151.gif"><img src="/images/stories/westpacmarch151thumb.gif"></a>
Renters are most likely more sensitive to modest job growth due to feeling less financially secure then those who already accumulated wealth through property ownership. This graph shows how total employment has slowed recently:
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch152.gif"><img src="/images/stories/westpacmarch142thumb.gif"></a>
The survey also revealed that all sectors of the economy are worried about their job prospects.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch153.gif"><img src="/images/stories/westpacmarch153thumb.gif"></a>
And that concerns about employment have spread beyond Sydney and Melbourne to include states benefiting from the mining boom.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch154.gif"><img src="/images/stories/westpacmarch154thumb.gif"></a>
 
</body></html>

Renters increasingly fearful of unemployment: Westpac

<html><body>
You’ve found what you think is a brilliant development site.  Now it’s time to jump on that roller coaster and start the ride of your life as you commence the analysis process.  Will the project be feasible?  What is feasible, anyway?
Let’s find out.  Feasible is really another word for “is it going to be financially worth it for you to spend your time, energy, money, blood, sweat and tears developing this site?”.
Some advice I can give you about property investing and anyone in property will also tell you, to stay emotionally unattached to the property, as this is where bad decisions can be made. I have seen it many times, and this is where it can all come undone.
Firstly, it’s important to determine your development strategy and your investing criteria prior to looking for a development site.  Your strategy may include:
<ul>
<li>Land subdivision</li>
<li>Renovating an existing dwelling</li>
<li>Dual-occupancy or low-density development</li>
<li>Renovating an existing dwelling and building new villas/units also on the land</li>
<li>Medium-density development</li>
<li>All of the above</li>
</ul>
Your budget will help to determine your development strategy. A simple land subdivision will be less costly (but not necessarily quicker) than a larger villa/unit development, for instance.
As part of your strategy, you will need to think about what profit margin you would feel comfortable making from a development.   You may have heard about the “20% profit margin” rule for developers?   Once all development costs are taken from the potential sale result of the properties, (when selling the properties) there will be a 20% profit margin.  Personally, I don’t always work back from a certain profit margin, as I find this restrictive.
Most of my clients are looking to boost their portfolios and hold the new properties long term, so we also need to meet other criteria.  By other criteria, I mean rental returns on completion.  For instance, if a client wants to create a positively geared development the end gross yield will need to be around 10% and we will actively search for development sites in very strong rental areas of the Hunter region of NSW to meet this objective.  Other criteria will include the amount of equity we can create from the project.  We strive to create over $100,000 in equity after our project management fee.
To determine the feasibility of a site, you will need to:
<ul>
<li>Talk to an accountant who specialises in property and one who preferably develops property him or herself as he or she can advise you on the best structure to purchase under and explain the tax implications when developing such as GST and CGT. </li>
<li>Meet with a financial lender or a bank to determine your budget and the best loan structure for your development.  It’s important to choose a lender that offers construction loans and find out what their lending criteria is around this, i.e. not all residential lenders will lend to you for a four unit site for instance.  Check interest rates on these loans.</li>
<li>Meet with solicitor to determine his or her costs. He or she will check for restrictive covenants or easements that may affect the land and will also make sure services are available and connected, especially if you are developing in a new area, as well as finalising the deal for you.</li>
<li>Read the local development control plan (DCP) and local environment plan (LEP) and speak with your council’s town planner to find out development application and CC (construction certificate) costs. Get friendly with the town planner to find out which developments the town wants to see in the area, as this could save you time and money by getting it right the first time. </li>
<li>Meet with an architect and builder to determine what you can build on the site.  Some builders offer standard designs which will save you design fees.  If they do this, then they will be familiar with the local planning requirements.  If you are not happy with a standard design, engage a local architect to design specifically for the site. Get a quote.</li>
<li>A surveyor will give you advice on the subdivision process. He or she will prepare your subdivision plan and estimate costs relating to the subdivision including sewer extension and service connection costs. </li>
<li>Once you have a concept design and before you lodge your DA, meet with builders to determine construction costs. Try to get three quotes and make sure they offer you a fixed-price contract.</li>
<li>Talk to real estate agents to determine the value of your development and rental returns on completion as this will have huge impact on the success of the feasibility.</li>
<li>Research other costs such as stamp duty, reports, insurance and interest payments.</li>
</ul>
The aim is to keep the above costs to a minimum so you will receive a higher profit margin. All this information can be kept in a spreadsheet, or there are software programs to help you with this process.
Below is a quick one-page analysis I do to determine if a development is going to be feasible. In this case the client is keeping the three properties we have created from one.
Purchase price three-bedroom house on 1,012 square metres of land: $210,000 Estimated set-up costs, stamp duty, legals, pest and building reports, survey: $8,500 Estimated renovation cost: $8,000 Build cost for a two-bedroom duplex (2 x villas) to be built behind existing house: $353,000 Contingency:  $20,000 Note: build costs includes all council, subdivision and other fees and charges. I always ask my builder to wrap all development costs into their contracts so my clients can maximise their lending.
Total development cost to create three properties from one in Hunter region of NSW:  $599,500 
Estimated end values:
Renovated three-bedroom house on 400 square metres:  $220,000
Two-bedroom villas $260,000 each:  $520,000
Total end values:  $740,000
Potential gross equity to be created: $140,500
Note: lending costs are not included at this stage:
 
Estimated rental returns:
Renovated house: $300 per week
Two-bedroom villas @ $280 per week each:  $560 per week
Total rental return: $860 per week or $44,720 per year
Gross yield on completion of development: 7.5%
 Gross rental yield: How it works One of the first calculations you will need to understand if you intend renting the properties on completion is the gross rental yield (GRY). To calculate the GRY you need the annual rent and the total cost of the development. If we use the above example:
Annual rent: $860 per week x 52 = $47,720pa Total development costs: $599,500 Gross yield: $47,720 divided by $44,720 =  7.5%
The yield on the above example of 7.5% is ideal at the moment, as anything over 7% is considered to be a strong yield.  Some of our developments are creating up to a 10% gross yield.
Once you have obtained the estimates for your development and the figures are looking good, you have some actual estimates to go back and speak to your lender about and ensure you can finance the project. There are various finance options so seek professional advice on the best one for your situation.  Then before you purchase, ensure you have discussed the best legal entity to be purchasing under for your individual circumstances with your accountant.
When your finance is preapproved, you can then start to negotiate the purchase. Always ensure you have a preapproval before making an offer so you can move quickly to exchange. This is a good negotiation tool.  Ask for a longer settlement and a lower deposit which will reduce your holding costs.
There are many more things to consider for your site selection, so it’s important you do your due diligence.  In the development game, time is money. So you will need to learn to assess a potential site very quickly. One way to fast track the analysis process is to engage other professionals to do this important work for you.  If it is your first development then work with an experienced project manager so you can learn from them as you progress through the complicated and challenging journey of your property development.  Enjoy the ride!
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
</body></html>

jochivers-wq5Bp59R5a

How to determine if a site is feasible for development

<html><body>
Property group Stockland has found strong interest in its retirement development in Gowanbrae village, about 15 kilometres north of Melbourne. Since the development’s off-the-plan marketing launch in October 2010, 32 of the 39 apartments have sold.
The Gowanbrae apartments cater to a new breed of retirees, who are keen to maintain their active lifestyles as they age.
“Nowadays, both retirees and the community realise retirement presents choice when it comes to living standards that encourage active and social lifestyles,” Stockland says.
“Moving into a Stockland retirement village is an independent living choice and is based on factors such as: enhanced social contact, secure surroundings, peace of mind within a close-knit community and home downsizing for a renewed active lifestyle.”
The development features nine one-bedroom apartments, 24 two-bedroom apartments and six two-bedroom apartments with studies across three storeys.
Units range from 63 square metres to 105 square metres and are priced from $319,000 to $495,000.
The development includes onsite health services such as 24-hour emergency medical assistance, physiotherapy, exercise programs and medical rooms for doctors’ visits. All doorways and hallways are wide enough to accommodate people with limited mobility.
Features also include a bar and dining room, dance floor, bowling green, library, craft room, pool, spa and beauty salon.
Construction was completed on the development at the end of last year, and about 70% of the sales were off the plan.
The development is part of Stockland’s “three R” strategy – focusing on residential, retirement and <a href="https://www.propertyobserver.com.au/retail/stockland-continues-to-focus-on-higher-yielding-retail-commercial-property/2012020953322">retail</a>, which chief executive Matthew Quinn has implemented.
 
 
</body></html>

Retirees snap up units in Stockland's Gowanbrae development

<html><body>
The “time to buy a dwelling” sentiment has improved 1.7% in March to be up 5.5% over the past 12 months, according to the March Westpac–Melbourne Institute Index of Consumer Sentiment.
Housing sentiment was the only bright spot in the March result, which showed consumer confidence has retreated to levels prior to the interest rate cuts of November and December.
While the housing outlook improved, the attraction of shares continues to deteriorate.
Only 5.4% of respondents nominated shares as the wisest place to put their money – the lowest proportion since the early 1990s.
The overall index fell by 5% in March from 101.1 to 96.1, below the level in October last year, and was based on the responses of 1,200 adults aged 18 and older conducted from March 5 to 9.
With the index below the 100 level, pessimists clearly outnumber optimists.
The “time to buy a vehicle” sentiment fell by 2.8% to be down 7.8% for the year.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch14.gif"><img src="/images/stories/westpacmarch14thumb.gif"></a>
Commenting on the results of the survey Westpac chief economist Bill Evans says the “case has already been made for lower rates in Australia but expect that, at this stage, the board is not convinced.
“More time will be required before we see another rate cut. Our best expectation is in May or June,” he says.
According to Evans, the March result showed that sensitivity to interest rates has “clearly been one factor responsible for this weak print”.
“The survey in February closed off before it was announced that banks were raising their mortgage rates despite the Reserve Bank having kept the official cash rate on hold.
“Recall that the survey in February covered the week of the Reserve Bank’s board meeting. At the beginning of the week media reports had led respondents to confidently expect a 0.25% rate cut from the Reserve Bank,” says Evans.
“With the two previous rate cuts in November and December being passed on in full by the banks it is reasonable to assume that many borrowers expected a further cut in the mortgage rate of 0.25%. 
“Instead, mortgage rates were actually increased in the following week with banks raising mortgage rates by an average of 10 basis points. 
“It is likely that this reversal has impacted confidence. 
“This ‘rate effect’ is consistent with the 6.8% fall in the confidence of those folks who have a mortgage. However this observation does not explain why there was a 10.8% fall in the confidence of respondents who are renting accommodation. 
“There are other forces at work. Petrol prices for example, rose 3% between the February and March survey to average around $1.45 a litre,” he says.
Evans says supplementary questions indicate that respondents are particularly concerned about economic conditions and employment with notable weakness in how respondents view their finances. 
“The subindexes tracking responses on ‘family finances compared to a year ago’ fell by 8.6%; and ‘family finances over the next 12 months’ fell 4.5%. 
“The economic outlook also deteriorated, the sub-indexes tracking views on ‘economic conditions over the next 12 months’ fell by 2.5% and ‘economic conditions over the next 5 years fell by 6.1%,” Evans says,
“Saving plans continue to be very conservative with 34.6% of respondents assessing bank deposits as the ‘wisest place for savings’. That is up from 30.1% in December although below the record 37.8% proportion in September 2011,” he says. 
The sub-index tracking views on “whether now is a good time to buy a major household item” fell by 3.8%.
 
 
 
 
</body></html>

Slight improvement in housing sentiment defies drop in consumer confidence in March: Westpac Index

<html><body>
So how do you follow-up on last week’s tsunami?  <a href="https://www.propertyobserver.com.au/queensland/wait-a-minute-kochie-there-are-bright-spots-for-property-investment-on-the-gold-and-sunshine-coasts/2012030653715" target="_blank">“Wait a minute, Kochie, there are bright spots for property investment on the Gold and Sunshine coasts”</a> not only was our most popular post, it got national media coverage.
It goes to show that many are sick and tired of the negativity, don’t want to be continually told how bad things might get and crave some balance in media (and other) reporting.  Glib one-liners make easy punchlines, but most things are hard to accurately sum up in 12 words or fewer.
What most do after a good game is have a day of rest, a B-day, so to speak.  I try to have a B-day every month or so.  This is a day when you don’t do anything with an immediate deadline, try to improve on some things that need adjustment, or try something new. Heck, sometimes I just read the articles that I have been carrying around with me for the past month or so.  And if it is a really good B-day, I get time to update my Home News.
Home News is a collection of weird stuff that my youngest daughter, Savannah, and I cut out from the media. It has been going on for years and we now are up to our sixth scrapbook. We are probably breaking several laws, but this all started after I read how Tom Waits does something similar.  Like Tom, I do find it more interesting to read my own news collection rather than the day-to-day drivel.  Also, paraphernalia comes in handy at parties, or for those awkward pauses in conversation, and sometimes even during presentations.
So, here is a sample of some Home News, Matusik style.  Try to enjoy, and please suffer my remarks in italics.
<ul>
<li>An increasing number of cashed-up Australians are buying fake grass because they don’t have time to mow the lawn on the weekend.  Tell me about it.  And why do they need to be cashed-up?  And did you know that Aussies will pay up to $75,000 more for house with a nice lawn? But I don’t think fake stuff really cuts it.  Pun intended.
</li>
<li>Last year, 1.93 million people in Australia’s workforce were aged 55 or over, up from a million a decade ago.  Now Canadian Leonard Cohen describing himself as a “lazy bastard living in a suit” on his new album, Old Ideas, does kinda ring true – he is fond of wearing a suit, but lazy seems a bit harsh.  He is 77 and there is no sign of slowing down, having spent almost three years on tour. Old Ideas has won widespread acclaim, and he says he has enough material for another album.  Ditto Dylan, McCartney and even Springsteen, whose Wrecking Ball has the energy of someone in his 20s, not 60s.  Watch out, youngsters, us oldies are back.
</li>
<li>About 75% of people admitted to surfing the web, using smartphone apps, emailing and texting while on the toilet.  One in five men said they had taken a conference call while on the loo.  Now this behaviour used to be confined to real estate agents.  Who said agents aren’t trend setters?  Do you also know that 9 million (40%) Australians use social networking sites such as Facebook, You Tube and Twitter?  And obviously, many do so while in the smallest room of the house.
</li>
<li>A third of Australians are unaware of how much super they have.  One in eight never check their super balances.  Little I can say here, except that for some reason, many treat their super funds like they aren’t really theirs. It is much easier, in our experience, for an investor to pay money out of a super fund to buy a property, rather than out of current accounts.  Curious indeed.
</li>
<li>Some wit to close… and most will be able to tell it is too good to be mine.  Apart from being nice to their mother, the best advice you can give your children is to live in a marginal seat.  Touché
</li>
<li>Two-thirds of women would choose a good night’s sleep over sex. Whatever I add here will get me in some deep shite.
</li>
<li>Aussie high school and university students are now outsourcing their English essays and maths papers to firms in India, Pakistan and Egypt, for as little as $2.  Well, this speaks volumes.
</li>
<li>In addition to making you groggy and dazed, jet lag makes you stupid too.  Hmmm, stupider maybe more apt.
</li>
</ul>
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>. The Matusik Missive is free, however, reprinting, republication or distribution of any portion of this material, or inclusion on any website, is strictly prohibited without the written permission of Matusik Property Insights and may incur a charge.
 
 
 
 
 
 
 
<ul></ul>
</body></html>

michaelmatusik-49YzLvdmNv

A check in on the home news, for a day of rest

<html><body>
20/21 Sutherland Street, Cremorne, NSW, 2090
<img style="border-style: initial; border-color: initial;" src="/images/stories/sutherland.jpg"> 
In The Links building in Cremorne, this two-bedroom unit is currently leased until November 2012 at $500 per week. Listing agent Fran Turner of Croll Real Estate says the tenants have been in place for 12 years and are playing significantly below market rent. She says a rental analysis of the property indicates it could be rented out for between $650 and $680 per week. It features views over Willoughby Bay and the surrounding district, laundry and 103 square metres of living space.
The property was passed in on a vendor bid of $680,000 at its weekend auction, and <a href="https://www.croll.com.au/dbpage.php?pg=view&amp;dbase=listings&amp;id=787115" target="_blank">it is now for sale for $705,000</a>. There was one registered bidder, and no bids at the auction. Before auction Turner was marketing the property with price hopes of $730,000 plus.  If it sells for $705,000, its current rent would secure an investor a gross rental yield of 3.7%, below the indicative gross rental yield for Cremorne units of 4.2%, according to RP Data. A rental of $680 per week would equate to a gross rental yield of 5%. 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. Levies are $1,340 per quarter, council rates are $187 per quarter and water rates are $142 per quarter.
The median unit price for Cremorne rose by 5.6% in the past year, according to RP Data.
For more about prices and yields in Cremorne, see the RP Data suburb page.
</body></html>

Investor form guide wrap: Gross rental yield of up to 5% in Cremorne 

<html><body>
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 results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
In round three this week Brisbane properties fared considerably better than they did in the previous rounds, with four of the five selling at or just after auction. In Melbourne and Sydney, all five properties featured in the competition sold at or just after auction.
The unit at 5/12 Howard Street, Richmond, featured on Property Observer, attracted considerable interest from first-home buyers at its weekend, auction, according to Mark Armstrong from Property Tycoon.
"First-home buyers were out in force at the auction of Howard Street in Richmond when two bidders battled head on for the right to negotiate with the vendor," Armstrong says. "The property was passed in for $515,000 and sold shortly afterwards for $525,000."
However, he says the result, while strong, was not stellar for the vendor.


"Although the result earned its owner 100 grand since it last sold in 2007 for $422,000, it lagged behind the wider market over the same period. An annual compound growth rate of 4.5% was well below that the 7.42% growth in the median value of apartments over the same time frame," Armstrong says. 
The price for the Sydney property featured on Property Observer, 22 Devonshire Street, Crows Nest, was not disclosed, but Armstrong says it sold under the hammer for more than $1.1 million. 
And the Brisbane property featured on Property Observer, 83 Agnes Street, Auchenflower, attracted considerable buyer interest and sold under the hammer.
"It was a big auction with eight registered bidders and a crowd of 80 looked on as it sold under the hammer for $757,500," Armstrong says. "The average tip was almost spot on, coming in at $754,454."

 
 
 
 
 
 
 
 
</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