Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

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?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Five years on, the US economy remains sluggish after the bursting of a house price bubble. More recently, the focus has been on China, the world’s second largest economy, and whether it too might be overwhelmed by a similar event. Reports of <a href="https://www.time.com/time/magazine/article/0,9171,2096345,00" target="_blank">“ghost cities”</a> and some property developers <a href="https://www.bbc.co.uk/news/world-asia-16009050" target="_blank">facing</a> bankruptcy have become commonplace. Some commentators have <a href="https://www.foreignaffairs.com/articles/136963/patrick-chovanec/chinas-real-estate-bubble-may-have-just-popped?page=show" target="_blank">asserted</a> that the bubble may have already “popped”. The stakes are high. The IMF <a href="https://www.imf.org/external/pubs/ft/wp/2011/wp11208.pdf" target="_blank">notes</a> that since 2007, China has contributed more – much more in fact – to world growth than any other country, and this is projected to remain the case into the foreseeable future. Given that China’s construction sector is a significant source of demand for our natural resources, Australia has more to lose than most if the economy there sours. Before commenting on the Chinese case, it is worth briefly reviewing the chain of causality in the US. From 1997, house prices in the US began to<a href="https://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff--p-us----" target="_blank"> appreciate</a>. During the 2000s, the market became increasingly infected by debt-funded speculators betting on continued capital gains. In the process, banks lent money to borrowers of marginal credit worthiness requiring little or no collateral. When prices stalled and then went into sharp reverse in 2006, the banks were left holding the bag, ultimately requiring a bail out by taxpayers. Banks (and firms and households) then spent the next few years seeking to rebuild their balance sheets, as opposed to extending new loans, and this process continues today. The above story breaks down at several points when it comes to China. What is true is that house prices in China have increased rapidly during the 2000s. That, however, is about where the similarities end. Firstly, while recent<a href="https://www.ft.com/intl/cms/s/0/c0f12d0e-70e6-11e1-a7f1-00144feab49a#axzz1qMiy3UmD" target="_blank"> headlines</a> have reported that house prices in China have <a href="https://www.propertyobserver.com.au/https://www.guardian.co.uk/business/feedarticle/10149902" target="_blank">fallen </a>for a fifth straight month, what we have actually seen is a levelling off in prices. According to official data, prices nationwide remain steady compared with a year ago and remain marginally up since 2010. Unofficial <a href="https://blogs.wsj.com/overheard/2012/03/20/what-is-chinas-house-price-reality/" target="_blank">data </a>points to stronger price growth since 2010. Examples of more significant price declines in certain cities can be found, as they can in particular developments in a given city. But to tell a macroeconomic story based on these is to miss the forest for the trees. To put the above numbers in perspective, last year house prices <a href="https://www.smh.com.au/business/property/record-slump-in-house-prices-in-2011-20120201-1qsid" target="_blank">fell </a>more in Australia than they did in China. Secondly, there is<a href="https://online.wsj.com/article/BT-CO-20120325-705551" target="_blank"> little evidence</a> that any deterioration in the housing market has infected the banking system. Given that nation-wide house prices have not in fact declined, this is perhaps not surprising. There are other reasons as well. One is simply that Chinese are much more likely to fund home purchases from savings, often calling upon the assistance of family members in the process. In part this reflects cultural differences, but also strict down payment requirements imposed on borrowers by banks. Thirdly, it should not be forgotten that the key institutions in China’s banking system remain more or less government-owned. This changes the rules of the game considerably. Standard risk management variables, such as the capital adequacy ratio – which, incidentally, is extremely high amongst Chinese banks – and the non-performing loan ratio, are only of marginal relevance because the integrity of the biggest banks is guaranteed by the government. China’s central government is willing and able to act on that guarantee. The level of public debt outstanding is modest and even when contingent liabilities are taken into account, such as debt racked upon by local governments, the prospect of China falling victim to a European style public debt crisis is remote. Another example is that amid a deteriorating macroeconomic environment in which privately owned banks might elect to slow credit growth, the Chinese government can instruct banks to do the opposite, as was seen in 2009. This remains within the capability of the banks given the extremely high reserve requirements they maintain. Fourthly, in addition to continuing government ownership, there is also the fact that the banking system remains heavily regulated. For example, by fixing interest rates, the government can act to boost the margins and profits of the banks. This may be a negative from an efficiency perspective, but nonetheless can act to promote the stability of the system. Property prices in China may well be inflated. Price to income ratios, particularly in the major cities, suggest that they are. However, for high prices to constitute a bubble, they must be able to burst. In the case of China, it is not clear that they have, nor where a trigger might come from. More likely is that we are set to see a period of no or low price growth, rather than sharp declines. Of course, even stagnant house prices have implications for China’s overall rate of growth and therefore the demand for Australian natural resources. But as China’s premier, Wen Jiabao, recently <a href="https://news.xinhuanet.com/english/china/2012-03/14/c_131466703.htm" target="_blank">noted</a>, the days of average annual growth rates in excess of 10% are over. The sooner that we in Australia accept and adjust to this new reality, the better.

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</center></div>
 James Laurenceson is currently a Senior Lecturer in Economics at The University of Queensland. He has previously also held appointments at Shimonoseki City University in Japan and Shandong University in China. This article originally appeared on<a href="https://theconversation.edu.au/" target="_blank">The Conversation</a>. 
 
 
 
 
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cknowlton-QnEa6ntUYP

Haunted by a Chinese property bubble

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There’s an air of growing panic among Australia’s business people. Company directors are calling for a budget deficit, retailers feel like they are peering over a cliff and everybody’s worried sick about the carbon tax and the high currency.
Metcash’s Andrew Reitzer reported yesterday that he is seeing “unprecedented and prolonged challenging operating conditions”. The IGA supermarkets are battling deflation of 0.9%, with specials making up more than half of all shopping baskets and as a result Metcash is laying off 478 people.
Meanwhile the Reserve Bank and Treasury are insouciant. RBA Governor Glenn Stevens merely said yesterday that “considerable structural change is occurring”, while putting off a rate cut. Treasury is working with the government to produce one of the toughest budgets in the nation’s history.
I can’t remember a time when the policymakers and the real world diverged as much as they do now.
It’s entirely possible that business people are in a funk unnecessarily and that the bureaucrats in Canberra and Martin Place have a better idea of what’s going on, but I doubt it. The truth is that both the RBA and Treasury have been getting it wrong, and both are being forced to adjust their economic forecasts downwards.
At yesterday’s RBA meeting, according to Governor Glenn Stevens: “the board judged the pace of output growth to be somewhat lower than earlier estimated”, but they stubbornly put off a rate cut anyway.
Last year’s federal budget forecast real GDP growth this financial year of 4%, which now looks absurdly optimistic. For calendar 2011, growth was half that figure and there is no reason to think it will be much different for the financial year – perhaps a little more than 2%.
So why do the government economists have their heads in the clouds, apart from the fact that it’s normal?
It’s partly because one person’s 'structural change' is another’s nightmare, and partly because it suits them: Treasury needs to produce a $40 billion fiscal turnaround to assist the treasurer’s political agenda and the RBA is still focused on inflation.
Business people, meanwhile, are seeing weak domestic demand because of consumer deleveraging, weak export demand because of the currency appreciation, and rising costs because of the labour laws and higher energy prices, both present and future.
To a large extent, the yawning gap between the economists and business people reflects the difference between 'gross' and 'marginal' – that is, the RBA is watching aggregate national inflation numbers while business people are watching their margins get hammered, and Treasury is watching national output, including the mining investment boom, while on the east coast, businesses are watching their all-important marginal sales collapse.
Business is a marginal game, while economics is gross.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>
 
 
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akohler-TyLfJGrMb8

Business is marginal, government economists have their heads in the clouds: Alan Kohler

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There’s something about any holiday break.
It allows people with downtime to pause, reflect, seek feedback and then react.
Traditionally everyone returns from their summer Christmas break, sand no longer between their toes, brimming with new-found optimism.
Hence most years – like 2012 – begin with stronger auction success rates and firmer prices than those that had tailed off in the overburden exhaustion of December.
Easter is another pause, which allows the market – and most particularly potential buyers and sellers – time to reflect.
But that’s where Easter’s similarity to Christmas ends.
It tends to present itself as a rather more unwelcome interruption to marketing campaigns.
And when it comes to property’s forward progression, quite often the real estate market can take a turn for the poorer after Easter.
“It’s what happens after Easter that sets the tone for the year,” Melbourne buyers’ agent Mal James notes.
“When the Easter Bunny spins the roulette wheel where he (or she) stops on price nobody knows,” James opines.
So the big question is: what will happen after Easter?
We’ve seen the typical rush to have properties sold before Easter – on the surface <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/auctions/melbourne-passes-super-saturday-auction-acid-test-while-sydney-results-were-weaker/2012033054094">Melbourne seemed to hold up better than Sydney on super Saturday</a> – and now the school holidays mean many buyers will be otherwise preoccupied.
Over recent times estate agents regularly complaining of a shortage of stock, but what they really mean is new sellable listings.
The SQM data regularly shows capital cities overburdened with old unsold listings, but the consensus is that given that new listings remain a little light on, and noting the underlying demand, that there’s a good chance of the capital city auction clearance rates therefore remaining solid. But things are very very fragile.
Prices are of course down, especially for stale stock, and this pricing revision has finally seeped through to vendor consciousness.
It's probably fair to say the actual house and unit price falls for mum and dad vendors are far more that the overall subdued figures reflected in capital city median prices put out by the major property data providers such as RP Data Rismark's 4.3% national annual decline.
And so many would-be vendors have understandably decided not to list. Therefore buyers face limited fresh choices and accordingly auctions prices still quite often sell at higher that the pre-auction marketing campaign estimates.
Negative headline overload has dissipated the positive impact of the two recent rate cuts, but any belated May Day rate cut by the RBA might help things along.
Unfortunately then events surrounding the federal budget a week later might harm the prospects of recovery. Already the R word – recession – is creeping into economic chatter.
Bill Evans from Westpac says South Australia is in recession with given poor housing, manufacturing and population growth data.
Let’s hope the rest us of don’t follow.
 
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jchancellor-FAypfDUnLy

Easter is a time to reflect, and one of the big questions is: what happens to property prices when the buns and eggs are eaten?

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Economists remain confident that the Reserve Bank will cut interest rates next month (May 1) after leaving the cash rate unchanged at 4.25% yesterday as expected.
While all 24 economists polled by Bloomberg ahead of the announcement correctly called the April hold decision, it was slammed by industry bodies representing struggling sectors of the economy.
The Housing Industry Association (HIA) has called the decision “the wrong call,” pointing out that there is “very little driving the economy” outside of the mining sector, while the Master Builders Association (MBA) says it was “disappointed rates were not cut given the current poor conditions in the building industry”.
Most upset was the Australian Retailers Association (ARA), which says retailers had been king hit by the decision, coming just a few hours after ABS figures showed that retailing recorded virtually no growth over February and in fact went backwards in non-mining states.
“As retailers attempt to innovate and adapt to a changing retail environment, compete effectively and maintain hours and employment levels, the RBA has dealt the sector a king hit and shown little regard for working Australians or small businesses as they struggle to take home a living,” says ARA executive director Russell Zimmerman.
While economists were more measured in their responses, the underlying tone of their reaction suggested the RBA could have moved earlier and cut rates yesterday.
Former Gillard government economic adviser Stephen Koukoulas analysed the RBA statement by Glenn Stevens accompanying the <a target="_blank" href="https://stephenkoukoulas.blogspot.com.au/2012/04/rba-statement-in-blue-and-red">decision and says it containsmore weak news than strong news</a>.
Koukoulas says it is “anyone’s guess” why the RBA had not cut rates.
CommSec chief economists Craig James says the case for a rate cut is “certainly compelling – especially given the sluggishness in retail activity, higher Aussie dollar, and slump in home construction”.
“In addition the monthly inflation data has consistently confirmed that inflation is subdued. But in the end, the Reserve Bank decided to keep its powder dry,” he says.
Economists appear to be in agreement that the March quarter inflation data to be released on April 24 will be the key number guiding the RBA’s next move.
Craig James calls the inflation number “the deciding factor”.
“The key phrase of the statement was: ‘The board's view was also that, were demand conditions to weaken materially, the inflation outlook would provide scope for easier monetary policy’.”
“In fact if the inflation data released on April 24 comes in at or below 0.7% for the March quarter, it should provide the Reserve Bank with additional degree of comfort and allow policy makers to cut interest rates by 25 basis points in May,” James says. 
Commonwealth Bank chief economist Michael Blythe calls yesterday’s decision a “prelude to a rate cut”, acknowledging that expectations of a rate cut had risen prior to the meeting.
“Speculation built over the past week that the RBA might deliver a rate cut at today’s meeting,” he says.
Blythe says there was a “broad hint that a rate cut will be on the table for discussion in May”.
“The pace of activity is a little weaker than expected but due diligence requires waiting for the first quarter CPI [due April 24] before considering a further step to ease monetary policy”.
“We are happy to hold with our May rate cut call as a result,” he says.
Aside from the inflation figure on April 24, the RBA will also have the benefit of other useful data at its disposable.
Housing Finance figures for February are out on April 11 and will show if mortgage demand has picked after the traditionally quiet January period.
On April 18 building activity figures December will be released for the December quarter and will show if the downturn in the September quarter for both residential and non-residential construction was sustained in the final three months of 2011.
The March quarter capital city house price index data will be released May 1, just a few hours before the May board meeting, giving the RBA a clearer sense of just how soft the housing market is and offer clues as to its future direction.
 
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lschlesinger-FZcF9M3vE6

Builders and retailers slam rates hold decision as RBA awaits first-quarter inflation data 

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Midland Brick heiress Marilyn New has secured a $90 million buyer for The Esplanade Hotel in Fremantle, Western Australia.
The 4.5-star hotel, which has 300-rooms, was bought by Ascendas – the Singaporean property fund that last year paid $327 million for Mirvac’s hotel portfolio, operated by French management group Accor.
<img src="/images/stories/esplanadehotel2.jpg">
New bought The Esplanade Hotel in Fremantle for $12.27 million in 1991, and she extensively refurbished it, doubled the number of rooms to 300 and created Perth’s third largest conference centre.
The Perth hotel accommodation sector has been the subject of renewed interest given its high occupancy of a steady 90% on weeknights and its ability to charge huge amounts for a room.
Despite this interest, New’s Esplanade River Suites in the Perth suburb of Como remains unsold.  It was listed with the landmark Fremantle hotel through estate agency Jones Lang LaSalle in for a combined $120 million.
New also owns the dilapidated but heritage-listed Woolstores building by Fremantle’s Victoria Quay, where there is talk that it could be renovated into a funky boutique hotel despite the previous push to raze the historic structure.
 
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andreadixon-oif3j7eKne

Marilyn New sells Fremantle’s Esplanade Hotel for $90 million

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There was unanimity in the market ahead of yesterday's Reserve Bank board meeting that there would be no change to official interest rates. The market was right, but there may not have been quite the same unanimity within the boardroom.
Going into the meeting it was probable that rates would be left unchanged, but not certain. One only has to read Glenn Stevens' statement after the meeting to understand why a change was possible. 
While the world is relatively stable, although Europe remains "a potential source of adverse shocks for some time", growth in China has (as it intended) moderated and commodity prices are "noticeably off their peaks". Australia’s terms of trade have also peaked, but remain high.
While growth in Australian domestic demand was at its fastest for four years last year, output growth was below trend over the year and ‘considerable’ structural change was occurring. Labour market conditions have also softened, credit growth remains modest, the housing market remains soft and the exchange rate remains high.
In fact, in the non-resource side of the economy conditions are tough. Retail sales are flat-lining, housing prices have weakened, non-mining construction has slumped and job losses in the manufacturing sector are swelling as businesses are being forced to restructure in response to weak demand and the exchange rate.
And, in prospect – if Wayne Swan actually delivers on his promise/threat – is the mother, and father, of all contractionary budgets. Oh, and the carbon tax.
Stevens said yesterday that in underlying terms inflation was around 2.5% last year, and currently expected it to be in the 2%to 3% range over the next one or two years, ‘abstracting’ from the effects of the carbon tax and including an assumption that productivity growth in the economy will increase "somewhat" as a result of the structural changes occurring.
"At its next meeting the board will have the opportunity to reassess the outlook for inflation, taking into account not only data on demand and output but also forthcoming information on prices.
"The board eased monetary policy late in 2011. Since then its judgement has been that, with growth expected to be close to trend, inflation close to target and lending rates close to average, the setting of monetary policy was appropriate.
"The board’s view was also that, were demand conditions to weaken materially, the inflation outlook would provide scope for easier monetary policy.
"At today’s meeting the board judged the pace of output growth to be somewhat lower than earlier estimated but also thought it prudent to see forthcoming key data in prices to reassess its outlook for inflation before considering a further step to ease monetary policy," he said.
In other words, if the economy continues to show weak growth and inflation remains dormant the RBA is now more inclined to cut rates than hold them.
That’s a very clear signal to the market, and perhaps the major banks.
The RBA’s execution of monetary policy has become slightly more complicated since the banks, led by ANZ, quite recently decided to move their rates independently of the central bank. That means the RBA needs to second-guess their response to its decisions to ensure it sets official rates at a level that will have the desired impact on the economy.
It may be that the RBA chose to sit on its hands yesterday in order to see what ANZ might do when it conducts its monthly review of its rates on Friday week. Alternatively, the clear signal that it is considering reducing official rates next month might be designed to encourage the majors to wait until then before deciding how much of a rate cut to pass through to customers.
The RBA would be well aware that while funding costs – both wholesale and deposit funding – have fallen back a little from their peaks relative to the cash rate, they are still higher than they were in the middle of last year and there has been a modest contraction in banking interest margins in recent months that the banks will be reluctant to see continue.
It is politically easier (although not easy or painless) for the banks to hold back a small portion of an official rate cut than to unilaterally make out-of-cycle rate rises so the RBA’s signalling might cause the majors to wait. If they were to move independently, of course, that would help the RBA judge how much of a rate movement was needed to ensure that the net outcome had its desired impact.
The other virtue in holding rates steady until next month’s meeting, of course, is that the RBA will by then have a clearer understanding of whether Swan’s horror budget is truly going to be horrible and will be in a better position to make a judgement of how much, if any, monetary policy easing will be required to try to blunt the effects of the politically-driven promised return to surplus on the already vulnerable non-resource sectors of the economy.
This article originally appeared on <a target="_blank" href="https://www.businessspectator.com.au/">Business Spectator</a>.
 
 
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sbartholomesusz-jWVzVSPmF8

The RBA's bank beacon: Stephen Bartholomeusz

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Shopping centre giant Westfield, one of Australia’s biggest retail landlords, reported a strong 2011 to December 31, with profits of $1.5 billion despite the challenges facing the retail sector.
In its 2011 annual report, Westfield says its Australian portfolio remained resilient and at almost full occupancy “reflecting the ongoing demand for high-quality retail space”.
Westfield operates 43 malls throughout Australia, with Airport West in Melbourne recording the strongest increase in sales of 7% over the year, followed by Belconnen in the ACT, with a 5.5% gain.
There were 18 stores that recorded a decline in sales over the year, the biggest being a 10.3% drop in Kotara, Newcastle followed by an 8% declined in Pacific Fair on the Gold Coast.
Westfield Bondi Junction in Sydney’s eastern suburbs, which managed over $1 billion in sales in 2010, declined by 3.9% to $973 million in 2011.
Here’s a breakdown of how Westfield’s centres performed, starting from Bondi Junction and ending with North Rocks in Sydney’s west ($144 million):
(Annual sales figures for Westfield Sydney are not yet available – the shopping centre has 257 retailers and 78,000 square metres of lettable area).
$973 million
The total annual sales at Bondi Junction, NSW, which declined 3.9% over 2011. The shopping centre has 522 retailers and 129,000 square metres of lettable area.
$890 million
The total annual sales at Chermside, Queensland, which increased 2.1% over 2011. The shopping centre has 415 retailers and 146,000 square metres of lettable area.
$812 million
The total annual sales at Doncaster, Victoria, which increased 3.4% over 2011. The shopping centre has 437 retailers and 121,000 square metres of lettable area.
$779 million
The total annual sales at Southland, Victoria, which increased 0.3% over 2011. The shopping centre has 416 retailers and 130,000 square metres of lettable area.
$773 million
The total annual sales at Marion, SA, which increased 1% over 2011. The shopping centre has 331 retailers and 133,000 square metres of lettable area.
$713 million
The total annual sales at Parramatta, NSW, which declined 2% over 2011. The shopping centre has 498 retailers and 137,000 square metres of lettable area.
$711 million
The total annual sales at Warringah Mall, NSW, which declined 2.7% over 2011. The shopping centre has 327 retailers and 125,000 square metres of lettable area.
$707 million
The total annual sales at Knox, Victoria, which declined 3.9% over 2011. The shopping centre has 410 retailers and 143,000 square metres of lettable area.
$703 million
The total annual sales at Marinda, NSW, which declined 2.7% over 2011. The shopping centre has 393 retailers and 108,000 square metres of lettable area.
$661 million
The total annual sales at Carindale, Queensland, which declined 0.6% over 2011. The shopping centre has 284 retailers and 106,000 square metres of lettable area.
$654 million
The total annual sales at Fountain Gate, Victoria, which declined 2.3% over 2011. The shopping centre has 285 retailers and 127,000 square metres of lettable area.
$612 million
The total annual sales at Hornsby, NSW, which increased 0.7% over 2011. The shopping centre has 333 retailers and 100,000 square metres of lettable area.
$583 million
The total annual sales at Penrith, NSW, which increased 1% over 2011. The shopping centre has 343 retailers and 92,000 square metres of lettable area.
$577 million
The total annual sales at Booragoon, WA, which increased 1.3% over 2011. The shopping centre has 272 retailers and 72,000 square metres of lettable area.
$563 million
The total annual sales at Mt Gravatt, Queensland, which declined 0.2% over 2011. The shopping centre has 313 retailers and 99,000 square metres of lettable area.
$541 million
The total annual sales at Carousel, WA, which increased 1.4% over 2011. The shopping centre has 294 retailers and 83,000 square metres of lettable area.
$507 million
The total annual sales at Macquarie, NSW, which declined 3.9% over 2011. The shopping centre has 278 retailers and 98,000 square metres of lettable area.
$504 million
The total annual sales at Chatswood, NSW, which declined 2.4% over 2011. The shopping centre has 290 retailers and 77,000 square metres of lettable area.
$478 million
The total annual sales at Belconnen, ACT, which increased 5.5% over 2011. The shopping centre has 282 retailers and 95,000 square metres of lettable area.
$473 million
The total annual sales at Tea Tree Plaza, SA, which increased 1% over 2011. The shopping centre has 257 retailers and 94,000 square metres of lettable area.
$471 million
The total annual sales at Pacific Fair, Queensland, which declined 8% over 2011. The shopping centre has 308 retailers and 104,000 square metres of lettable area.
$469 million
The total annual sales at Tuggerah, NSW, which increased 0.4% over 2011. The shopping centre has 270 retailers and 83,000 square metres of lettable area.
$456 million
The total annual sales at Liverpool, NSW, which increased 0.9% over 2011. The shopping centre has 337 retailers and 84,000 square metres of lettable area.
$455 million
The total annual sales at Kotara, NSW, which declined 10.3% over 2011. The shopping centre has 269 retailers and 69,000 square metres of lettable area.
$440 million
The total annual sales at Whitford City, WA, which declined 1.1% over 2011. The shopping centre has 305 retailers and 78,000 square metres of lettable area.
$419 million
The total annual sales at Karrinyup, WA, which declined 2.1% over 2011. The shopping centre has 219 retailers and 60,000 square metres of lettable area.
$419 million
The total annual sales at Woden, ACT, which declined 1.2% over 2011. The mall has 262 retailers and 72,000 square metres of lettable area.
$405 million
The total annual sales at Burwood, NSW, which increased 10.3% over 2011. The mall has 251 retailers and 64,000 square metres of lettable area.
$398 million
The total annual sales at Hurstville, NSW, which declined 0.4% over 2011. The mall has 261 retailers and 63,000 square metres of lettable area.
$379 million
The total annual sales at Mt Druitt, NSW, which increased 2.5% over 2011. The mall has 243 retailers and 59,000 square metres of lettable area.
$375 million
The total annual sales at Westlakes, SA, which declined 1% over 2011. The mall has 214 retailers and 61,000 square metres of lettable area.
$366 million
The total annual sales at North Lakes, Queensland, which increased 3.8% over 2011. The mall has 217 retailers and 61,000 square metres of lettable area.
$358 million
The total annual sales at Sydney Central Plaza, which decreased 8.3% over 2011. The mall has 95 retailers and 54,000 square metres of lettable area.
$331 million
The total annual sales at Helensvale, Queensland, which increased 2.6% over 2011. The mall has 187 retailers and 45,000 square metres of lettable area.
$294 million
The total annual sales at Plenty Valley, Victoria, which increased 4.4% over 2011. The mall has 180 retailers and 54,000 square metres of lettable area.
$278 million
The total annual sales at Innaloo, WA, which increased 1.2% over 2011. The mall has 171 retailers and 47,000 square metres of lettable area.
 
$277 million
The total annual sales at Geelong, Victoria, which increased 5.2% over 2011. The mall has 188 retailers and 52,000 square metres of lettable area.
$276 million
The total annual sales at Airport West, Victoria, which increased 7% over 2011. The mall has 180 retailers and 53,000 square metres of lettable area
$265 million
The total annual sales at Strathpine, Queensland, which increased 1.1% over 2011. The mall has 162 retailers and 45,000 square metres of lettable area
$224 million
The total annual sales at Warrawong, NSW, which increased 0.7% over 2011. The mall has 143 retailers and 58,000 square metres of lettable area
$171 million
The total annual sales at Figtree, NSW, which increased 1.1% over 2011. The mall has 94 retailers and 22,000 square metres of lettable area
$144 million
The total annual sales at North Rocks, NSW, which increased 0.7% over 2011. The mall has 92 retailers and 23,000 square metres of lettable area
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From Westfield Bondi Junction to North Rocks: where shoppers are spending (or not) their money in Westfield’s vast retail portfolio

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The latest statistics from the ABS show that Australia’s resident population reached 22.62 million last year, increasing by 320,800 people over the last 12 months.  This represents an annual growth rate of 1.4%, the lowest since 2006 and lower than the annual average growth rate of 1.8% over the five years to June 2011.
This is one of the reasons why new housing starts have been in the dumps in recent years.  Not enough people are moving to Oz.
All states and territories experienced population growth in 2010-11, with the largest population increases continuing to be in Australia’s three most populous states. Victoria had the greatest growth (up by 84,200 people), followed by New South Wales (82,200) and Queensland (74,800).  This is only the third time in the last 10 years that Queensland has not had the largest growth of all states and territories.
Queensland has been broken for some time.  Business and residents need legitimate reasons – other than the nice weather – to move to the Sunshine State.  The LNP white-wash will hopefully get the ball rolling in this regard.  My two-bob’s worth of how this could best be done, as one would expect, is on its way.  I have been biding my time until after Easter.  Watch this space.
More than 14.5 million people, close to two-thirds of Australia’s population, reside in the eight capital cities, and the combined population of the capital city/urban areas increased by over 224,000 over the last 12 months.
Melbourne recorded the largest growth of all capitals, increasing by 67,000 people, followed by Sydney (60,000), Perth (43,000), and Brisbane (35,000).  Population growth in Melbourne equated to an average increase of close to 1,300 people per week, while the population of Sydney increased by over 1,100 people per week.
When factoring in the Gold and Sunshine coasts plus out west to Toowoomba, south-east Queensland’s population increased by 52,000 people last year or by 1,000 people per week.  Just under 3 million people (2,965,000) now live across the south-east corner of the state.
Many local government areas that had large and/or rapid growth were located on or near the boundaries of capital cities, where more land tends to be available for subdivision and housing development.  In Melbourne, the population of outer-suburban Wyndham increased by 12,200 or 7.8%.  This was both the largest and fastest increase of all Victorian municipalities and the fastest in the country.  Strong growth was also experienced in Whittlesea (up 8,700 people or 5.6%) and Melton (6,000 people or 5.6%).
As the table below shows, Brisbane City Council continues to experience the most growth with its permanent population lifting by 14,000 last year.  The table also provides details as to the fastest-growing municipalities across Queensland.
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="497" colspan="5">
Population growth – top 15 municipalities by number of people
</td>
</tr>
<tr>
<td></td>
<td width="147"></td>
<td width="118"></td>
<td width="165" colspan="2">
Change 2010-2011
</td>
</tr>
<tr>
<td width="214" colspan="2">
Ranking
</td>
<td width="118">
2011
</td>
<td width="99">
no.
</td>
<td width="66">
%
</td>
</tr>
<tr>
<td width="214" colspan="2">
Australia
</td>
<td width="118"></td>
<td width="99"></td>
<td width="66"></td>
</tr>
<tr>
<td>
1
</td>
<td width="147">
Brisbane (Qld)
</td>
<td width="118">
1,079,392
</td>
<td width="99">
14,100
</td>
<td width="66">
1.3%
</td>
</tr>
<tr>
<td>
2
</td>
<td width="147">
Wyndham (Vic)
</td>
<td width="118">
168,552
</td>
<td width="99">
12,230
</td>
<td width="66">
7.8%
</td>
</tr>
<tr>
<td>
3
</td>
<td width="147">
Gold Coast (Qld)
</td>
<td width="118">
536,480
</td>
<td width="99">
9,637
</td>
<td width="66">
1.8%
</td>
</tr>
<tr>
<td>
4
</td>
<td width="147">
Whittlesea (Vic)
</td>
<td width="118">
163,539
</td>
<td width="99">
8,675
</td>
<td width="66">
5.6%
</td>
</tr>
<tr>
<td>
5
</td>
<td width="147">
Moreton Bay (Qld)
</td>
<td width="118">
389,684
</td>
<td width="99">
8,118
</td>
<td width="66">
2.1%
</td>
</tr>
<tr>
<td>
6
</td>
<td width="147">
Wanneroo (WA)
</td>
<td width="118">
156,337
</td>
<td width="99">
6,234
</td>
<td width="66">
4.2%
</td>
</tr>
<tr>
<td>
7
</td>
<td width="147">
Melton (Vic)
</td>
<td width="118">
112,981
</td>
<td width="99">
6,002
</td>
<td width="66">
5.6%
</td>
</tr>
<tr>
<td>
8
</td>
<td width="147">
Casey (Vic)
</td>
<td width="118">
261,198
</td>
<td width="99">
5,947
</td>
<td width="66">
2.3%
</td>
</tr>
<tr>
<td>
9
</td>
<td width="147">
Blacktown (NSW)
</td>
<td width="118">
313,057
</td>
<td width="99">
5,777
</td>
<td width="66">
1.9%
</td>
</tr>
<tr>
<td>
10
</td>
<td width="147">
Logan (Qld)
</td>
<td width="118">
287,472
</td>
<td width="99">
5,325
</td>
<td width="66">
1.9%
</td>
</tr>
<tr>
<td>
11
</td>
<td width="147">
Sunshine Coast (Qld)
</td>
<td width="118">
335,273
</td>
<td width="99">
4,955
</td>
<td width="66">
1.5%
</td>
</tr>
<tr>
<td>
12
</td>
<td width="147">
Ipswich (Qld)
</td>
<td width="118">
172,738
</td>
<td width="99">
4,920
</td>
<td width="66">
2.9%
</td>
</tr>
<tr>
<td>
13
</td>
<td width="147">
Townsville (Qld)
</td>
<td width="118">
189,931
</td>
<td width="99">
4,511
</td>
<td width="66">
2.4%
</td>
</tr>
<tr>
<td>
14
</td>
<td width="147">
Cardinia (Vic)
</td>
<td width="118">
77,536
</td>
<td width="99">
4,335
</td>
<td width="66">
5.9%
</td>
</tr>
<tr>
<td>
15
</td>
<td width="147">
Parramatta (NSW)
</td>
<td width="118">
176,355
</td>
<td width="99">
4,321
</td>
<td width="66">
2.5%
</td>
</tr>
<tr>
<td width="214" colspan="2">
Queensland
</td>
<td width="118"></td>
<td width="99"></td>
<td width="66"></td>
</tr>
<tr>
<td>
1
</td>
<td width="147">
Brisbane
</td>
<td width="118">
1,079,392
</td>
<td width="99">
14,100
</td>
<td width="66">
1.3%
</td>
</tr>
<tr>
<td>
2
</td>
<td width="147">
Gold Coast
</td>
<td width="118">
536,480
</td>
<td width="99">
9,637
</td>
<td width="66">
1.8%
</td>
</tr>
<tr>
<td>
3
</td>
<td width="147">
Moreton Bay
</td>
<td width="118">
389,684
</td>
<td width="99">
8,118
</td>
<td width="66">
2.1%
</td>
</tr>
<tr>
<td>
4
</td>
<td width="147">
Logan
</td>
<td width="118">
287,472
</td>
<td width="99">
5,325
</td>
<td width="66">
1.9%
</td>
</tr>
<tr>
<td>
5
</td>
<td width="147">
Sunshine Coast
</td>
<td width="118">
335,273
</td>
<td width="99">
4,955
</td>
<td width="66">
1.5%
</td>
</tr>
<tr>
<td>
6
</td>
<td width="147">
Ipswich
</td>
<td width="118">
172,738
</td>
<td width="99">
4,920
</td>
<td width="66">
2.9%
</td>
</tr>
<tr>
<td>
7
</td>
<td width="147">
Townsville
</td>
<td width="118">
189,931
</td>
<td width="99">
4,511
</td>
<td width="66">
2.4%
</td>
</tr>
<tr>
<td>
8
</td>
<td width="147">
Cairns
</td>
<td width="118">
170,586
</td>
<td width="99">
2,647
</td>
<td width="66">
1.6%
</td>
</tr>
<tr>
<td>
9
</td>
<td width="147">
Mackay
</td>
<td width="118">
121,072
</td>
<td width="99">
2,452
</td>
<td width="66">
2.1%
</td>
</tr>
<tr>
<td>
10
</td>
<td width="147">
Redland
</td>
<td width="118">
144,936
</td>
<td width="99">
2,380
</td>
<td width="66">
1.7%
</td>
</tr>
<tr>
<td>
11
</td>
<td width="147">
Toowoomba
</td>
<td width="118">
163,936
</td>
<td width="99">
2,180
</td>
<td width="66">
1.3%
</td>
</tr>
<tr>
<td>
12
</td>
<td width="147">
Gladstone
</td>
<td width="118">
62,319
</td>
<td width="99">
2,115
</td>
<td width="66">
3.5%
</td>
</tr>
<tr>
<td>
13
</td>
<td width="147">
Fraser Coast
</td>
<td width="118">
103,358
</td>
<td width="99">
1,468
</td>
<td width="66">
1.4%
</td>
</tr>
<tr>
<td>
14
</td>
<td width="147">
Rockhampton
</td>
<td width="118">
116,722
</td>
<td width="99">
1,412
</td>
<td width="66">
1.2%
</td>
</tr>
<tr>
<td>
15
</td>
<td width="147">
Bundaberg
</td>
<td width="118">
97,762
</td>
<td width="99">
1,007
</td>
<td width="66">
1.0%
</td>
</tr>
<tr>
<td width="497" colspan="5">
Matusik Property Insights, April 2012.
</td>
</tr>
<tr>
<td width="497" colspan="5">
Source: Australian Bureau of Statistics Cat. No. 3218.0.
</td>
</tr>
<tr>
<td width="497" colspan="5">
Estimated resident population as at June 30 each year.
</td>
</tr>
</tbody></table>
The inner-city areas of Sydney, Brisbane and Melbourne had population increases among the largest in Australia, increasing by 3,500; 3,450 and 2,500 people respectively.  Perth was the fastest-growing of all the inner capital city areas, increasing in population from 18,000 to 18,600 people or 3.7%.
Since these stats were released, the number of people settling down under has risen substantially.  Close to 14,000 people are now arriving each month, compared with the lows of 9,500 per month in late 2010.
Our modelling suggests that Australia’s resident population could reach 23 million by late July this year.  Australia’s current population growth rate is around 350,000 per annum.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
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michaelmatusik-49YzLvdmNv

Slowing population growth part of the reason new housing starts are in the dumps: Michael Matusik

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chrisjoye-JYhJsTrNRC

Christopher Joye's video take on the April RBA decision

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The Reserve Bank has left interest rates unchanged today at 4.25% following its April monetary policy meeting noting that while credit growth remains modest, "housing prices have shown some signs of stabilising recently, after having declined for most of 2011, but generally the housing market remains soft."
This marks the third consecutive monetary policy meeting that the RBA has left the cash rate unchanged.
The decision will particularly disappoint the weaker sectors of the economy, including residential builders, retailers and manufacturers.
The RBA announcement followed this morning’s release of underwhelming retail sales figures from the ABS, which showed a 0.2% rise in February after a 0.3% gain in January and a flat December. The February figures were in line with expectations.
It also followed weak building approval figures issued yesterday.
Borrowers must now wait and see if lenders will adjust rates independently of the RBA move.
ANZ borrowers will have to wait until Friday April 13 to find whether the bank will adjust its variable mortgage rates.
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