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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<img src="/images/stories/qiii.jpg">
Singaporean investors have spent more than $11 million buying apartments off the plan in Fraser’s new residential project in Perth. 
The development known as QIII is part of Frasers’ Queens Riverside Hotel + Residences development, which will offer 408 luxury apartments in three buildings and a 236-room all-suites hotel operated under the Frasers Hospitality brand. 
<img src="/images/stories/qiii2.jpg">
Frasers ran a series of seminars in Singapore in November promoting the project to local buyers and attracted “exceptional interest” as well as sales of $11.1 million, according to CEO Guy Pahor. 
The 26-storey apartment building will feature 265 apartments, of which 125 have been sold. 
Many of the Singaporean buyers purchased with the intention of upgrading from their existing Perth property as the time draws closer to completion of QIII.
Apartments are selling for about $730,000, with $1.4 million the top price achieved to date. It was for a three-bedroom apartment on the 21st floor. 
<img src="/images/stories/qiii3.jpg">
QIII will be the second stage of the development, which is being built for Frasers by Diploma Construction. 
The first stage, the $107.5 million construction of Fraser Suites Perth plus common basements and podium for the Queens Riverside precinct, is now underway.
For more on Asian investors in Australian real estate, download our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-foreign-investment-in-australian-property-markets">Foreign Investment in Australia's Property Markets.</a>
For more on buying off the plan, donwload our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-investing-off-the-plan">10 Tips for Investing Off the Plan</a>.
 
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Investors buying off the plan in Perth's QIII

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The 154 capital city fringe locations for property under $300,000 - and Gagebrook, Tasmania tops the list: RP Data

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There was a firm start to weekend auctions in the Sydney and Melbourne residential markets, albeit on low volumes.
In Sydney there was a 72% success rate from 67 report results complied from the 80 scheduled auctions monitored by Australian Property Monitors.
On the same weekend last year there were 106 Sydney auctions and a 49% clearance rate.
But the very next weekend last February, vendors secured Sydney’s highest auction clearance rate for the year, when there was a 63% success rate.
According to Clinton McNabb, research analyst at Australian Property Monitors, the Sydney clearance rate fell gradually across the year from 59% in February to a low of 49% in December, and was 53% for the year.
APM has 198 auction listings for February 11, then 330 and 429 for the remaining February Saturdays.
Despite the big jumps in weekend volumes APM suggests the overall February total might be around 20% lower than last February.
Melbourne secured a 58% success rate from the 112 reported auctions. 
This was a slight improvment on the 56% clearance rate for Melbourne auctions in 2011.
On the same weekend last year there were 189 auctions and a 56% clearance rate.
Next weekend about 305 auctions are expected in Melbourne, then 620 and 850, according to Robert Larocca, communications manager at the Real Estate Institute of Victoria.
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Clearance rates up but volumes down in auction season opener: Weekend auction wrap

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Mirvac, the developer of the inner-Sydney Harold Park project, has taken the unusual step of commenting on the campaign of opposition to the proposed development.
It has accused the local Balmain Greens MP Jamie Parker of fuelling opposition by “misinformation”.
Mirvac’s response came ahead of this weekend’s public meeting that FLAG Harold Park has asked Parker to chair as part of the campaign “to stop the overdevelopment” of what was previously the Harold Park paceway.
The City of Sydney’s Central Sydney Planning Committee will shortly decide on the first of the development applications for the development. Parker has suggested there are significant community concerns about bulk, scale and density, the lack of affordable housing, and 700 additional vehicle movements per hour in peak periods that would affect surrounding suburbs including Glebe, Forest Lodge and Annandale.
Mirvac had submitted applications for Harold Park that were compliant with the site-specific planning controls and reflected the City of Sydney’s vision for the inner city, says Mirvac development chief John Carfi.
“Despite being provided facts, Mr Parker has continually communicated inaccurate information to the public about items relating to the proposed development.
“This has caused unnecessary community concern and undermines the detailed and thorough rezoning process completed by the City of Sydney,” Carfi says.
“This debate is being fuelled by misinformation.
“The impacts of extra residents in this location were modelled, and considered by the City of Sydney in formulating the site specific planning controls which were subsequently approved by Central Sydney Planning Committee and Council, then legislated by the NSW state government.
“In relation to traffic, Mirvac took the extra precaution of commissioning further traffic studies by specialist transport engineers before submitting its development applications.
“The RTA was also involved at every stage of the process.
Carfi says “Mr Parker’s demands for further studies were an attempt to delay the project and pressure consent authorities into reducing the size of the development which has already been set as part of the rezoning legislation.”
He says as one of the last remaining substantial inner-city sites suitable for residential development, Harold Park represents a very important role in the vision envisaged by the planning authorities.
“Sydney is a growing city with an urgent need for additional housing. In fact so urgent, that the state government is taking steps to fast track the rezoning of more land on the outer fringe of Sydney.
“But at the same time there is an equal need for housing in the inner-city, close to jobs and importantly public transport. Harold Park is in the enviable position of being close to the Jubilee Light Rail station, a range of bus services and cycle-ways.
“Not only that, it is an easy 2.5-kilometre walk to the Sydney CBD”.
“If Sydney is to be a liveable city, sustainable residential development is needed in the inner-city where people are not reliant on private cars. Harold Park meets that need,” Carfi says.
He says there will be a dedication of 38,000 square metres of land, more than 35% of the site area, to the City of Sydney for public open space. There will also be an $8.5 million payment to the City of Sydney to embellish the public open space.
 
 
 
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Mirvac accuses Greens MP of 'misinformation' over Harold Park campaign

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The Year of the Dragon. 2012, has the potential to breathe life-shaping fire, to be magical and even mythical.
So as we approach the first day of 2012 under the Chinese Astrology Year – February 4 – we can look forward to a “year of great deeds, innovative ideas and big projects. This will be an advantageous time to begin new projects in business and socially”.
“The Year of the Dragon will bring excitement and big ups and downs in our lives,” according to one online site. 
I’m happy to say I’m a Dragon. After reading various overviews, I think it’s a pretty cool sign – I’m told it’s one of the most powerful and lucky signs in the Chinese zodiac. This is the Year of the Water Dragon, with water having a calming influence on Dragons’ fearless temperament, and also making them more perceptive of others. That’s good.  This also links into my Pices status. I do love a swim in the ocean!
It’s all fun and games to check in on our horoscopes –I always read mine in the Sunday paper – but really it’s up to you as we move into a new year to set down exactly what you want to achieve and not just leave it to chance, or Dragons, or any other belief.
Property development is like what we can expect this year from the Year of the Dragon: it is exciting, it does bring ups and downs (plenty of those) and hopefully in the end, it’s rewarding.
How can we sure up our property development results? I think it comes down to few simple rules:
<ol>
<li>Conduct massive due diligence before you decide to buy. You need to understand exactly what is permissible and what the local market needs in housing.  You should understand the local economics, where the employment is coming from and what projects are in the pipeline that can affect your development.  You should know the suburb inside out so that when a good deal comes along, you can jump on it.</li>
<li>Know what the potential outcome should be. Study rents and sales results in the suburb so you know what your dwellings will return/sell for. Put this into a simple feasibility spreadsheet. </li>
<li>Have a good property accountant who can check over your numbers and advise on the correct structure to purchase under to maximize your tax situation.</li>
<li>Have your finance pre-approved before you start looking so that you can move quickly to secure a good property.</li>
<li>Check out local builders, surveyors and tradies so you can quickly set up your development team.</li>
<li>Negotiate everything; purchase terms, deposit, renovation costs, building costs, agent management fees, etc. Each discount you get will lead to a better bottom line. Be careful not to “screw” your suppliers, as it needs to be a win-win situation for all. </li>
<li>Project manage your development closely so you can ensure it’s moving along as quickly as possible. This takes lots of time and patience. If you don’t have them, use a professional project management fire (like Property Bloom). </li>
<li>Consider holding property. It’s my opinion if you go to all the trouble and time to develop property the benefits of holding can be massive, especially in a few years time when you look back and ask yourself, “Why did I sell?”. Of course you need to have a good yield and depreciation benefits to support your holding costs. </li>
</ol>
So why not take advantage of the Chinese astrology forecast and make 2012 a year of great deeds, innovative ideas and big (property development) projects?
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
For more on what's set to unfold in the Year of the Dragon, <a href="https://register.propertyobserver.com.au/foreign-investment-in-australian-property-markets/" target="_blank">download our free eBook</a>.
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Get fired up for property development in the Year of the Dragon

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SQM research director Louis Christopher says he agrees with TV presenter David Koch's dire assessment of the Gold and Sunshine coast markets and points out that three of the top four most discounted homes in Australia are in Queensland.
Christopher  recalls that <a href="https://www.propertyobserver.com.au/queensland/sunshine-coast-mayor-slams-kochie-for-catastrophic-warning-to-property-investors/2012012353114" target="_blank">like Kochie</a>, he also came under fire from local agents and media for his gloomy assessment of the Queensland market last year.
"Although this bleak forecast may have angered certain industry groups, it has indeed come to pass and Queensland – more specifically the Gold Coast and Sunshine Coast – have posted dramatic house price falls," Christopher says.
"David Koch from network 7's Sunrise also appears to have irritated some real estate agents and journalists recently by sharing a similar view to ours on the state of the Queensland market."
Kochie<a href="https://www.propertyobserver.com.au/residential/kochie-sets-his-sights-on-estate-agents-and-journalists-in-queensland-property-catastrophe-stoush/2012013053183" target="_blank"> recently hit back at his critics</a>, saying he was right to call the Gold and Sunshine coasts "catastrophic" for property investors and called into question the integrity of those who opposed him.
“In any survey of trustworthiness real estate agents and journalists always appear at the bottom of the list," he said.
1
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479016">92 Beelong Street, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 608
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008940771">102 Fountain Road, Burpengary, Queensland, 4505</a>
On the market since: April 17, 2011
Initial asking price: $1.2 million
Current asking price: $699,000
Reduction: 42%
Days on market: 281
 
 
 
3
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 589
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106866439">329 Waterford Road, Ellen Grove, Queensland, 4078</a>
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 462
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106364068" target="_blank">22 Fenton Avenue, Christies Beach, SA, 5165</a> (pictured)
On the market since: March 6,  2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 686
 
6
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008729828" target="_blank">2/18 Campbell Crescent, Terrigal, NSW, 2260</a>
On the market since: December 11, 2010
Initial asking price: $1.99 million
Current asking price: $1.25 million
Reduction: 37%
Days on market: 406
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106990132" target="_blank">211 Jetty Road, Eaglehawk Neck, Tasmania, 7179</a>
On the market since: November 14, 2010
Initial asking price: $595,000
Current asking price: $375,000
Reduction: 37%
Days on market: 434
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614" target="_blank">25 Vicary Street, Triabunna, Tasmania, 7190</a>
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 540
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 1,327
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 756
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
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Kochie's right - stay away from the Gold and Sunshine coasts: SQM director Louis Christopher

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108 Ormond Road, East Geelong, VIC, 3219
<img src="/images/stories/ormondrd.jpg">
This two-bedroom house in East Geelong is tenanted at $280 per week until November 2012, and its high rental yield could make it a good prospect for investors.  Geelong has become an investor magnet in recent times, with hotspotting.com.au director Terry Ryder and Your Investment Property magazien picking the regional city <a href="https://www.propertyobserver.com.au/victoria/hotspot-geelong-s-on-the-ball-with-rising-yields/2011100451798" target="_blank">as a fast-growing hotspot</a>. Barry Plant Geelong agent Natalie Timonowicz<a target="_blank" href="https://www.barryplant.com.au/geelong/index.cfm?pagecall=property&amp;propertyID=1951591&amp;realestate=108_Ormond_Road_EAST_GEELONG_VIC_3219&amp;menuItemID=49535&amp;propertyIDList=1952986,1951591"> is marketing this property</a> with price hopes of $250,000 plus. If it sells for $250,000 that would be a gross rental yield of 5.8%, much higher than the indicative gross rental yield for East Geelong houses of 3.9%, 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 href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000. The house, on a 651-square-metre block, is close to shops and public transport. It is open for inspection on Saturday, February 4 at 1.45pm and will go to auction on Saturday, February 11 at 11am.
For more information about prices and yields in East Geelong, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
<hr class="system-pagebreak">
518 Smithfield Road, Prairiewood, NSW, 2176
<img src="/images/stories/smithfieldrd.jpg"> 
The tenants of this three-bedroom Prairiewood house are paying $1,600 per month and are on an expired lease. Ray White agent Graham Ball is <a target="_blank" href="https://www.raywhitefairfield.com.au/pol/property/search.asp?f_propertyID=1842105&amp;xsl=4861&amp;f_st=1&amp;f_ct=1&amp;f_ps=2&amp;p1=buying">marketing the outer-Sydney property</a> with price hopes of $450,000 plus, and if it sells for $450,000 that would secure an investor a gross rental yield of 4.3%. This is below the indicative gross rental yield for Prairiewood houses of 5%, 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 href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000. The property is on a large block of 1,248 square metres and is close to schools and transport. The property is open for inspection on Saturday, February 4 at noon and will go to auction on Thursday, February 16 at 6.30pm. 
For more information about yields and prices in Prairiewood, see the RP Data suburb page.
 
 
 
 
 
 
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Friday Form Guide: Yields of up to 5.8% in East Geelong

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Last month – yes it is February already! – the mainstream media ran headlines proclaiming that no jobs were created across Australia during 2011 and the result was the worst in 20 years.  No arguments there.  Our unemployment rate remains at 5.2%, but the participation rate fell as job seekers have given up the search for positions.
In addition, after holding staff levels steady for about 12 months or so, businesses are starting to lay people off.  So, too, is the public service.  But the real reason for the lack of job growth here has little to do with Europe or the global economy, and much to do with current government policies.
The modern award system under the Fair Work Act isn’t working.  In Queensland, regulation of retail trading hours is costing about 10,000 new jobs.  God knows what negative impact the carbon tax will have on job creation.
In addition, politics, rather than economics (yes, the more sceptical will say “what’s new?”), is motivating the federal government to get its budget back to surplus in time for the next election, which, in concert with softer tax revenues, requires public sector staff cutbacks.  There are way too many public servants for mine and I usually love a good PSC (public sector cull), but right now it is just adding to our woes.
And of course, there is the elephant in the room – a lack of leadership.  All parties are a joke.  There isn’t a statesperson amongst our current political set, Campbell Newman being the only exception.  Yes, I am biased, but really where is our Howard, Costello, Hawke or Keating?  It is too much to ask for another Menzies or Kennett?  I have a T-shirt with Howard’s face on it; underneath it says, “Missing me yet?”  Well maybe not exactly, but we definitely miss Howard’s budget surplus.
I remain hopeful that the world sorts out its mess and that we won’t enter a recession.  Investment in mining and energy projects is likely to keep our growth rate in the black.  But unemployment is likely to rise during 2012.  How far is uncertain, but as high a 6% isn’t out of the question.
We could improve our employment situation enormously and create many more jobs if we were to tackle our declining productivity, cut futile and costly regulations, abolish inefficient state taxes and embrace a much smaller government.
Official interest rates will now drop, and several times during 2012, but these might not work as well as they have done in the past.  Firstly, confidence is shot.  We need elections (and someone to believe in and vote for).  Secondly, the banks will dribble out only part of the cash rate cuts – they cannot afford to pass on all of the cuts.  Thirdly, we are saving more, due to economic uncertainty and our ageing demographic, so a drop in the savings bank rate is an income cut for many.  And finally, mortgage holders will use any cut in interest rates to help pay off their debt faster, so they will leave their repayments as they are.
Whilst we bemoan our flat job market, we can thank our lucky stars we don’t live in Europe, where unemployment is approaching 10% in many countries and is at 15% in places like Ireland.
The official labour force statistics make an interesting read.  Well, maybe that is taking it too far.  There are lots of anomalies and it pays to know what you are really looking at.  For example, Queensland’s unemployment rate, as at December last year, was 5.1%, which is down on the 2011 annual average of 5.5%, yet 1,300 jobs were lost during the year.
More enticing (yes, I am now pushing your interest to the limit) are the figures for the Gold Coast.  Unemployment across all of 2011 averaged 6.6% across the Goldie but was 4.6% by year’s end.  There were 7,100 jobs created across the entire Gold Coast last year, with 9,000 being created in the city’s southern flank and 1,900 lost across the northern suburbs.
Like all statistics, country, state or even regional averages don’t apply to every area.  Some places are always doing better than others.  It also pays to know that the ABS employment figures are based on place of residence and not place of remuneration.  The jobs “created” on the southern Gold Coast weren’t necessarily there.  More residents living there had jobs by year’s end.  Many actually work far away from the Gold Coast and commute.  Many now fly in/fly out of Coolangatta airport and work the mines.
Welcome to another new norm.
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>.
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Unemployment is on the rise - welcome to the new normal

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Crown International Holdings Group enters the Year of the Dragon with ongoing projects that will generate apartments with an end value of more than $2 billion.
<img src="/images/stories/topryde.jpg">
Crown has also announced plans to set up a display pavilion in the heart of Sydney’s Chinatown later this year to better meet the needs of the Chinese community and visitors to Sydney.
Crown International Holdings chief Iwan Sunito says prospective buyers or investors will be invited to relax in very comfortable surrounds while they have the opportunity to converse with one of Crown’s international and multi-lingual sales consultants, who are fluent in a variety of languages including Indonesian, Korean, Mandarin and Cantonese.
<img src="/images/stories/topryde2.jpg">
“The vibrant and dynamic display pavilion will provide locals and international visitors with detailed information about the various Crown projects, as well as being able to experience a display apartment,” Sunito says.
“Crown understands it’s important to provide all of our clients with detailed information for each of our developments and we believe it’s important to provide this service in a person’s first language wherever possible.”
Crown Group’s signature Asian-inspired designs, which create private sanctuaries for residents to call home, continue to attract buyers from all around the world.
<img src="/images/stories/topryde3.jpg">
“Our properties are designed to incorporate principles of feng shui and the architectural features display a fusion of Asian influences.
“At Top Ryde City Living for example, residents can get some quiet time at the meditation platform, sit and read a book in the beautifully landscaped gardens, swim a few laps of the pool or head to the gym for some exercise or yoga”, says Sunito.
Crown Group’s $500 million Top Ryde City Living project, one of Sydney’s largest residential property developments, is currently being pre-sold, and Crown has launched marketing initiatives in Jakarta, Indonesia in 2011, with further roll-outs in Shanghai, China and Singapore planned for 2012.
<img src="/images/stories/topryde4.jpg">
Top Ryde City Living has been pre-approved by the Australian Government’s Foreign Investment Review Board to accept non-Australian resident purchasers, so foreign investors are assured there is no approval process required or uncertainty in being allowed to purchase.
Crown offers foreign investors a 5% rental guarantee for one year.
“We have had a great response to the first release of Top Ryde Living City with approximately 90% already sold and only 26 apartments remaining for sale in stages 1 and 2, which range from $500,000 for a one-bedroom plus study with car space to $875,000 for a three-bedroom plus study and two car spaces,” Sunito says.
The next launch will be in March with the release another 135 apartments, says Kym Rogers, head of sales and marketing.
For more on Asian investment in Australian property, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-foreign-investment-in-australian-property-markets">download our free eBook</a>.
 
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Crown Group seeks out Asian buyers for Top Ryde project

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Today’s December 2011 house price index results make for some interesting reading.
As I have flagged here before, the “flash” or preliminary estimates around December and January can be difficult to interpret due to two factors: first, the volume of sales is seasonally much lower than normal, which makes measurement immediately following the month in question trickier; and, second, some cities’ valuer-generals’ offices can be a bit tardy is transferring transaction information over the holiday season, which gives rise to more volatile numbers that are subject to material revision.
While the flash estimate of the seasonally adjusted December month dwelling value index is -0.2%, this is being heavily influenced by two outsized (negative) results for Melbourne and Perth. It just so happens that these cities’ valuer-generals are probably the worst offenders when it comes to the timely transmission of data. What makes the Melbourne and Perth numbers especially suspect is that they come on the back of solid seasonally adjusted gains in November, which have been reconfirmed with RP Data-Rismark’s latest index analysis.
I expect to see future index revisions cast a more positive light on the price action in Melbourne and Perth over December, which could kick the national result back up into positive territory (following on from the encouraging November gain).
As an aside, a flash index estimate a few days ago did precisely that with more benign numbers for Melbourne, Brisbane and Perth generating a seasonally adjusted national gain. At this stage, however, the standard errors are two large to arrive at any definitive conclusions as to where the hard-to-handle December month data will actually end up.
Notwithstanding these wrinkles, the data does tell us some interesting things.
The November result for capital city dwelling values has revised up from +0.1% (s.a.) to +0.4% (s.a.) based on additional sales information. This marks the largest month-on-month improvement in Australian home values since May 2010.
RP Data-Rismark’s “rest-of-state” index, which covers all regional markets, has also revised up in November from +0.3% to +0.5% (s.a.). This is the most significant increase in regional house values since November 2010.
Australia’s biggest city, Sydney, currently has the largest volume of reported sales in December. In seasonally adjusted terms, Sydney dwelling values increased by 0.4% in the month of December. In the December quarter, Sydney dwelling values are up a total of 0.7% (s.a.).
So it would seem that Sydneysiders are leading the recovery.
There is also some good news for property investors. Weekly rents across the capital cities were up 1% over the December quarter and are now 6.3% higher than at the same time last year. These stronger rental rates combined with the recent correction in property values have improved investors’ overall yields. The average capital city apartment is now offering a gross rental return of 5.1% after a consistent trend upwards since mid-2010.
Over the course of last year, Australian capital city dwelling values experienced a total capital loss of about 3 ½%. Regional house values fared a little better, correcting by around 3%. This compares with the 14% to 15% decline in Australian shares. Adding in rents, the gross total return realised by Australian property investors was slightly less than 1% (up) over 2011.
Finally, we know that housing affordability in Australia has experienced a striking improvement. While disposable household incomes grew by nearly 7% over the year to September 2011, Australian dwelling values have declined by a total of 3.3% since May 2010. As a result of the RBA’s generous rate cuts in November and December, borrowers can today get fixed- and variable-rate home loans as low as 5.9% and 6.14%, respectively.  The bottom line is that Australian home loan rates are stimulatory.
Rismark’s research shows that disposable incomes per household have risen about 15% further than (hedonicall -measured) capital city dwelling values since the end of 2003. This helps account for the decline in Rismark’s national dwelling price-to-income ratio, which is as low as its been since 2003.
On the outlook for the year ahead, Rismark’s Ben Skilbeck commented, “We expect that the RBA’s interest rate cuts in the final two months of 2011 will lend further momentum to housing activity as transaction volumes pick up over February and March after the seasonally slow months of December and January. If financial market pricing for substantial additional RBA rate cuts proves accurate, we could see a stronger-than-expected bounce-back in housing conditions.”
RP Data’s Tim Lawless added: “While global uncertainty and a stagnant local labour market could weigh on the consumer’s mindset, we are nevertheless observing improvements in monthly housing finance commitments. RP Data’s leading indicators on average selling times and vendor discounts are also starting to look healthier. There is no doubt that additional interest rate relief in 2012 would afford a very welcome cushion to the housing market.”
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
 
 
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