<p>The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.</p>

<p>Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."</p>

<p>That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.</p>

<p>Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297740]</p>

<p>Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.</p>

<p>The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297741]</p>

<p>The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.</p>

<p>Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297735]</p>

<p>Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.</p>

<p>Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.</p>

<p>[smartcode_project_cta:default project_id=144913]</p>


Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

<p>National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.</p>

<p>Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373556]</p>

<p>The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.</p>

<p>Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.</p>

<p>"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.</p>

<p>"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.</p>

<p>"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373559]</p>

<p>Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.</p>

<p>The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373583]</p>

<p>Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.</p>

<p>Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373571]</p>

<p>Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>Completion of Crest &amp; Walker is slated for late 2028.</p>

<p>[smartcode_project_cta:default project_id=145922]</p>


Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

<p>The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.</p>

<p>It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.</p>

<p>Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.</p>

<p>While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68833]</p>

<p>Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.</p>

<p>The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.</p>

<p>"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.</p>

<p>"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.</p>

<p>"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=360215]</p>

<p>One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.</p>

<p>"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.</p>

<p>While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.</p>

<p>"The size of the site is something that would be incredibly difficult to replicate today," she says.</p>

<p>"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68839]</p>

<p>There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.</p>

<p>As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.</p>

<p>"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.</p>

<p>A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.</p>

<p>The remaining apartments are ready to inspect in person, by appointment.</p>

<p>[smartcode_project_cta:default project_id=6515]</p>


A decade in the making: Residents to move into Chevron One as construction wraps up

<p>A general rule of thumb in new apartment developments is that the penthouses get the rooftop.</p>

<p>It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.</p>

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.</p>

<p>Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.</p>

<p>The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374053]</p>

<p>"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.</p>

<p>"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.</p>

<p>"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374052]</p>

<p>The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.</p>

<p>Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.</p>

<p>The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374054]</p>

<p>Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.</p>

<p>Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370962]</p>

<p>While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.</p>

<p>It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.</p>

<p>Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=366550]</p>

<p>That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.</p>

<p>Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

<p>As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=359199]</p>

<p>The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.</p>

<p>Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.</p>

<p>In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360299]</p>

<p>The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.</p>

<p>Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.</p>

<p>This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360300]</p>

<p>What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.</p>

<p>The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.</p>

<p>Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.</p>

<p>[smartcode_project_cta:default project_id=426]</p>


Elevated amenity anchors daily life at Aeris, Melrose Park

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


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

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<p>The Australian Bureau of Statistics released construction work done data for the March 2016 quarter last week. </p>
<p>The data set looks at the value of construction work completed over the quarter and is an input to the national accounts (GDP) data.</p>
<p><a href="/images/2016/06/06/Chart-1-3-580x210.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/Chart-1-3-580x210.jpg" alt=""></p>
<p>Over the quarter, the value of construction work done was $47.928 billion which was down -5.5 percent over the quarter and -7.2 percent year-on-year.  In fact, the value of construction work done over the March 2016 quarter was the lowest since June 2011 and has been trending lower since the December 2012 quarter.</p>
<p><a href="/images/2016/06/06/Chart-2-2-580x208.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/Chart-2-2-580x208.jpg" alt=""></p>
<p>The decline in the value of work done is largely being driven by engineering construction which was bolstered until recent by the mining investment boom.  Over the quarter there was $24.9 billion worth of building work completed and $23.0 billion in engineering construction completed. </p>
<p>It shows that following a recent boost from infrastructure investment, building construction is now the key driver.  The value of engineering construction work done peaked at $34.7 billion in the September 2012 quarter and has since fallen by -33.6 percent while building activity peaked at $25.2 billion in the December 2015 quarter and has fallen by -1.0%.  With construction work in both the building and engineering sectors falling it is difficult to see how construction work done won’t continue to decline over the coming months.  Even the largest residential housing construction boom on record has not been enough to offset the previous largest engineering construction investment boom on record.</p>
<p><a href="/images/2016/06/06/Chart-3-2-580x210.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/Chart-3-2-580x210.jpg" alt=""></p>
<p>The building segment of construction work done consists of residential and non-residential construction (offices, retail shops, industrial properties).  The previous data showed building work has started to fall with the fall being driven by non-residential construction.  In fact residential construction work done is continuing to climb and is now at a record high $16.6 billion while non-residential is down -18.6 percent from its June 2010 peak.  While the largest residential construction boom in history continues to drive activity in that sector higher, it isn’t enough to offset the decline in the non-residential (and engineering construction) sector which is well below peak levels of activity.</p>
<p><a href="/images/2016/06/06/Chart-4-1-580x207.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/Chart-4-1-580x207.jpg" alt=""></p>
<p>The residential construction component is further broken down into three components: houses, other residential (units) and alterations and additions, including conversions. Unit construction work done reached a record high of $6.8 billion on the back of the biggest unit construction boom on record. </p>
<p>While unit construction activity continues to rise, the $7.7 billion in work done for houses is down -7.1 percent from its recent peak in March 2015 at $8.3 billion.  The value of alterations and additions completed was recorded at $2.0 billion over the quarter down -6.9 percent from its $2.1 billion peak over the September 2011 quarter.  It is anticipated work done for houses will continue to trend lower while unit work should trend higher over the next few quarters before starting to fall. </p>
<p>Meanwhile, the direction of alterations and additions is unclear but there could be some scope for an increase over the coming quarters and years given how much equity some home owners have and the costs associated with moving home.</p>
<p>Residential construction has been a large contributor to economic growth over recent years however, it looks as if it is likely to start detracting from growth as construction activity moves through a peak. </p>
<p>Housing construction activity has already been fading for a year while unit activity continues to rise however, we anticipate that it too will turn within the next 12 months. With the resources boom and concurrent infrastructure investment boom so important to Australia’s prosperity coming out of the financial crisis as it faded, building activity became extremely important, particularly residential construction activity. </p>
<p>With the residential construction boom starting to fade we need the next economic driver to rise in order to offset the slowing in building activity. An increase in infrastructure investment would seem to be a prime candidate however, Governments may not be willing to invest the money. The next boom will seemingly need to come from somewhere else; potentially from the education, health and tourism sectors as the lower Australian dollar makes these sectors more globally competitive as well as increased consumption if households start to ease their rate of saving.</p>
<p> </p>
<div class="sharedaddy sd-sharing-enabled">
<em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em> </div>
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The value of construction work done for houses is falling with units likely to follow shortly: Cameron Kusher

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<p>GUEST OBSERVER</p>
<p>The ongoing diversity in the housing market highlights the different growth drivers that are evident from region to region.</p>
<p>The economies of Sydney and Melbourne remain relatively sheltered from the downturn in the resources sector and have benefited from a very healthy services sector and positive population inflows while the mining states and territories are experiencing softer economic conditions and a sharp wind down in population growth, particularly from overseas migration.</p>
<p>The annual expansion in investor related housing credit has now dropped to a pace that is much lower than APRA’s mandated 10 percent growth per annum, while credit growth for owner occupiers is expanding.</p>
<p><a href="/images/2016/06/09/Screen%20Shot%202016-06-10%20at%208.33.17%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/09/Screen%20Shot%202016-06-10%20at%208.33.17%20AM.png" alt=""></p>
<p>With many banks now placing a premium on investment mortgage interest rates and also increasing mortgage rates and serviceability limits on all mortgages we have seen investment housing demand slow however, there has been a slight up-tick in demand from this segment over recent months.</p>
<p>It’s important to note, however, that lenders have been reclassifying existing mortgages from investment purposes to owner occupation, which is likely to be having an impact on the figures. Some lenders have recently relaxed previous restrictions on investors which could result in a rebound in demand from this segment over coming months.</p>
<p><a href="/images/2016/06/09/Screen%20Shot%202016-06-10%20at%208.39.33%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/09/Screen%20Shot%202016-06-10%20at%208.39.33%20AM.png" alt=""></p>
<p>The cumulative effect of tighter lending conditions, more expensive mortgage rates for investors and lower yields, as well as natural affordability constraints and higher levels of new housing supply, is likely to continue to impact the Sydney housing market resulting in a further slowdown over the year.</p>
<p>It is also expected that as the year progresses the rate of home value growth in Melbourne will also slow however, the slowdown is likely to be more moderate than the slowing in Sydney, at least during 2016. South-East Queensland looks set to see further increases in housing demand and potentially stronger value growth throughout the year.</p>
<p>Hobart and Canberra also appear better set for value growth over 2016 due to improving housing and economic conditions and relatively more affordable housing compared to Sydney and Melbourne. Adelaide is likely to show only moderate rates of value growth this year. In the meantime, we anticipate that values will continue to fall in trend terms throughout 2016 in Perth and Darwin.</p>
<p><a href="/images/2016/06/09/Screen%20Shot%202016-06-10%20at%208.42.17%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/09/Screen%20Shot%202016-06-10%20at%208.42.17%20AM.png" alt=""></p>
<p> </p>
<p><em>Tim Lawless is head of the CoreLogic research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.</em></p>
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tlawless-5VLUrbAk9s

Upturn on slowing investment housing demand: Tim Lawless

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<p>Key workers – such as teachers, nurses, ambulance and fire officers and the police – perform essential services.</p>
<p>Across the Sydney some 156,000 workers are employed in these occupations, equating to some six per cent of the workforce.</p>
<p>However, high property prices and high rents are placing barriers to their home ownership which were not experienced by previous generations. </p>
<p>There is now a serious mismatch between where key workers live and work, according to an important report prepared by Sydney University researchers for the Teachers Mutual Bank, Firefighters Mutual Bank, Police Bank and My Credit Union.</p>
<p>The report found that in the decade to 2016, key areas in Sydney lost up to 20 percent of teachers, nurses, policy and emergency service workers to outer and regional areas, while areas including the Illawarra, Southern Highlands and the Hunter Valley had net gains.</p>
<p>In 2006 more than 20 local government areas were affordable to a police senior constable. By 2016, that number had declined to four. </p>
<p>The majority of key workers now reside in outer ring suburbs, which the report advised was unlike other world cities, such as London, New York, or San Francisco.</p>
<p>The problem begins with the shortage of affordable rental homes near employment as this undermines the capacity to save for a deposit.</p>
<p>An enrolled nurse with five years experience on $57,000, requiring a one bedroom rental property, would be able to afford a median property in only 9 per cent of middle ring suburbs and in no inner ring suburbs. </p>
<p>As a consequence, many key workers are commuting long distances to get to work, or are living in unaffordable rental accommodation. </p>
<p>There's no doubting Sydney needs its Macquarie Street policy makers to improve key worker access to home ownership given the lack of affordable and appropriate homes.</p>
<p>But the report also identified one way to help restore housing options that requires innovative consideration of the plight of challenged home buyers bu the banking and superannuation sectors.</p>
<p>A key suggestion was the implementation of shared equity models that have long been used in the United Kingdom to help low and moderate income earners enter home ownership. </p>
<p>According to the UK Council of Mortgage Lenders, there are around 200,000 shared ownership homes in the UK where eligible households can purchase a minimum of 25 per cent of a property (and up to 75 per cent) and pay a rent of 3 per cent on the remaining share.</p>
<p>Over time the household can purchase the remaining equity in the property from the affordable housing provider partner (who owns the balance), or repay it when the house is sold. </p>
<p>We need mortgage lenders to embrace shared ownership.</p>
<p>It needs superannuation funds to joint venture with banks in this product. </p>
<p>This article was first published in the Saturday Daily Telegraph.</p>
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jchancellor-FAypfDUnLy

Banks need to embrace shared ownership concept as way forward for home affordability

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<p>I've written a lot here about Queensland's record apartment construction boom, which is now rebalancing. See <a href="http://petewargent.blogspot.com.au/2017/10/spirit-in-sky" target="_blank">here</a> and <a href="http://petewargent.blogspot.com.au/2018/02/filling-up" target="_blank">here</a>, for example. </p>
<p>The number of attached dwellings constructed through this cycle will exceed even the post-recession boom of the early 1990s. </p>
<p>The number of detached house starts is now rising steadily, but for attached dwellings new commencements are falling fast, especially for the higher-density projects.</p>
<p>And the official numbers are six to nine months old.  </p>
<p>A quick drive around central Brisbane reveals that many projects have been stalled or mothballed, and staged releases pushed out. </p>
<p>Developers simply can't shift many of them, with unusually 'flexible' terms being offered to prospective buyers in some cases. </p>
<p><a href="https://2.bp.blogspot.com/-Rg09ZgLw5Ww/WrdC6jxd5GI/AAAAAAAApGI/QOTtowImShEDYsVAlG0pkYKzK4srDyOcQCLcBGAs/s1600/QLD.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-Rg09ZgLw5Ww/WrdC6jxd5GI/AAAAAAAApGI/QOTtowImShEDYsVAlG0pkYKzK4srDyOcQCLcBGAs/s640/QLD.jpg" width="640" height="390" data-original-height="830" data-original-width="1356"></a></p>
<p>Below annual dwelling starts for the state are mapped against the estimated change in the resident population. </p>
<p>I deliberately haven't messed around with the axes on the chart as some are inclined to do.</p>
<p>After all, this cycle has been characterised by record volumes of high-rise apartments, which might house fewer persons per unit on average previously (while there is arguably the issue of Chinese investors and vacant apartments to account for). </p>
<p>The numbers show total dwelling starts falling fast in 2017, as they needed to. </p>
<p>Queensland's net overseas immigration and therefore population growth pulled back hard after the peak of resources construction, leading to a dwelling stock overhang, in a similar vein to Western Australia. </p>
<p><a href="https://4.bp.blogspot.com/-MyszNFjMdGg/WrdCT_USiBI/AAAAAAAApF4/4K2K3u130jAvs7df950CNpjJjU_GvsVgACLcBGAs/s1600/A2.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-MyszNFjMdGg/WrdCT_USiBI/AAAAAAAApF4/4K2K3u130jAvs7df950CNpjJjU_GvsVgACLcBGAs/s640/A2.jpg" width="640" height="392" data-original-height="828" data-original-width="1347"></a></p>
<p>Fortunately for local developers, Queensland has become the state with the <a href="http://petewargent.blogspot.com.au/2018/03/where-why-population-growth-is" target="_blank">greatest internal population flows in the country</a>, which is helping to stabilise the ship.</p>
<p>They'll be looking to offload their final apartments quick-sharp and put the shutters up for the remainder of this cycle. </p>
<p>As ever, lots of variations are apparent when drilling down to the regional and suburb level. </p>
<p><span>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and </span><a href="https://petewargent.blogspot.com/" target="_blank">blogger</a><span>.</span></p>
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pwargent-M4siyDbqQY

Queensland's internal population flows stabilising the CBD apartment ship: Pete Wargent

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<p><span>Research shows that over the 12 </span>months to December 2017, 16.1% of all houses and 9.5% of all units sold nationally transacted with a price tag excess of $1 million.</p>
<p>By comparison, 12 months earlier 14.8% of houses and 8.1% of units sold for more than $1 million.</p>
<p>At 16.1% of all house sales and 9.5%all unit sales in excess of $1 million, more houses and units sold for more than $1 million than sold for less than $200,000.</p>
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<p>Across the combined capital cities, 23.8% of all houses and 11.6% of all units sold over the year sold for more than $1 million.</p>
<p>The number sold for more than $1 million was up from 21.7% and 9.8% respectively a year earlier.</p>
<p>Five years ago just 9.8% of all houses and 3.9% of all units sold for more than $1 million. A greater number of houses sold for more than $1 million over the past year than sold for under $400,000. </p>
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<p><span>Across the combined regional markets, 4.6% of houses </span>and 3.8% of units sold over the year transacted at or above $1 million. The share of million dollar sales was up over the year from 3.8% for houses and 3.6% for units.</p>
<p>Five years earlier, 1.7% of houses and 2.2% of units sold throughout the year sold for $1 million. While in the combined capital cities the share of $1 million sales is significant it remains relatively small in those areas outside of the capitals. </p>
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<p><span>Sydney is the region that recorded the highest proportion </span>of sales of at least $1 million throughout 2017. Over the year, 49.3% of all houses sold were at least $1 million which was up from 45.4% at the end of 2016 and 18.8% at the end of 2012.</p>
<p>Over the 2012 calendar year, 5.4%  of all Sydney units sold over the year were at least $1 million, by 2016 the share had increased to 18.7% and 25% then by the end of 2017 it was up to 22.3%. More recently, values have begun to fall in Sydney, particularly for higher value properties, so there is a possibility in2018 Sydney will see a decline in the share of sales of at least $1 million. The share of $1 million plus sales in Melbourne has climbed significantly over recent years.</p>
<p>Throughout 2017, 28.3% of all houses and 8.3% of all units purchased were at least $1 million. The share of $1 million sales was up from 23.7% for houses and 7.2% of units a year earlier. The share of $1 million sales has risen substantially from five years ago when 9.7% of houses and 3.5% of units sold for at least $1 million. </p>
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<p><span>Although </span><span>value growth </span>has been fairly moderate in Brisbane over recent years, the share of $1 million sales has continued to climb. Throughout 2017, 8.3% of all houses and 3.4% of all units sold, transacted for at least $1 million. A year earlier, 7.5% of all houses and 2.8% of all units sold for at least $1 million and five years earlier just 3.6% and 2.1% of houses and units sold for at least $1 million.” </p>
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<p>Dwelling values in Adelaide have increased by just 2.2% over the past year, however, the share of stock selling for $1 million or more has continued to climb. Over the  2017 calendar year, 5.5% of all houses sold for at least  $1 million with the share climbing from 5.0% a year earlier and 2.8% five years previous.</p>
<p>For units, 1.6% of all sales were at least $1 million 2 years ago compared to 1.7% in 2016 and 1.9% in 2017. Over the past year there were more Adelaide houses sold for at least $1 million than there were sold for less than $200,000. </p>
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<p><span>Perth has been recording falls in values since 2014 and </span>the most expensive properties have recorded falls more substantial than the city wide average. The share of sales of $1 million or more has fallen over the year for house(10.4% to 10.3%) and units (4.5% to 3.2%). Although the share of sales of $1 million property has declined over the year it remains higher than it was five years ago for houses but lower for units when those sales accounted for 7.2% and 3.4% of all sales respectively. </p>
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<p>As the nation’s most affordable capital city housing market, Hobart has far fewer sales of $1 million properties than other capital cities. Notwithstanding, values of all capital cities and has seen a fairly significant lift in the share of $1 million sales over the past year.</p>
<p>Over the 2017 calendar year, 2.8% of all houses sold transacted for $1 million or more, up from 2.3% a year earlier and 1.4% five years earlier. The share of $1 million unit sales was steady over the year at 0.9% of all sales and down from five years earlier when 1.3% of all sales were at least $1 million. </p>
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<p><span>Darwin has been the </span><span>nation’s </span><span>weakest performing capital </span>city housing market for a number of years. At the end of February 2018, dwelling values were -22.3% lower than their peak. Predictably, such substantial value falls have led to a significant decline in $1 million sales.</p>
<p>Over the 2017 calendar year, 3.1% of all houses sold were at least $1 million compared to 4.1% a year earlier but a lower 2.4% five years earlier. 1.3% of all unit sales in 2017 were at least $1 million compared to 2.3% a year earlier and 1.7% five years earlier. </p>
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<p><span>Dwelling values in Canberra have increased by 3.2% </span>over the 12 months to February 2018 and as aresultthe share of sales of properties worth $1 million or more has also risen. At the end of 2017, 12.6% of all house sales throughout the year had been at least $1 million, up from 10.4% a year earlier and 4.8% five years earlier. For units, 2.5% of all sales were at least $1 million, up from  2.3% a year earlier and 1.3% five years earlier.</p>
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<p><span>The latest data is showing that a number of capital cities have now recorded falls in values, in particular the most expensive city, Sydney. </span></p>
<p><span>Additional data also indicates that values are falling by the greatest amount across the premium sector of the housing market. Should these declines continue, it may result in a decline in the share of sales of properties at or in excess of $1 million throughout 2018. </span></p>
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<p><span><em><span>CAMERON KUSHER</span> is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/"><span class="s2">here</span></a>.</em> </span></p>
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Nearly 25 percent of capital city houses sell for over $1 million in 2017

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<p class="p1">Price growth in the outer ring suburbs of Melbourne has been extraordinary in the past 12 months.</p>
<p class="p3"><span class="s2">Most suburbs in local government areas (LGAs) like Wyndham, Hume, Whittlesea and Casey have recorded double-digit growth in the median house prices. Many have grown more than 20% and some have topped 30%.</span></p>
<p class="p3"><span class="s2">The big price rises have come on the back on massive demand for homes from buyers of all sorts chasing affordability, against a background a strong Victorian economy and continuing high population growth.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">The strength of the growth in the outer-ring areas of Melbourne provides further evidence that proximity to the CBD is not an essential factor for buyers seeking capital growth.</span></p>
<p class="p3"><span class="s2">Proximity to employment is a core factor but the reality is that most people work in suburban jobs nodes, not in the CBD (that’s true in all capital cities, including Melbourne).</span></p>
<p class="p3"><span class="s2">In the City of Casey in the far south-east of the Melbourne metropolitan area, eight suburbs have each recorded over 330 house sales in the past 12 months.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">They include Narre Warren, Clyde North and Cranbourne North, which have each recorded more than 450 house sales, and Berwick where over 700 houses have been sold in the past year.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">Every suburb in the Casey LGA has had double-digit growth in median house prices. Cranbourne, Hallam, Cranbourne East, Hampton Park and Narre Warren have all had median price growth above 20%.</span></p>
<p class="p3"><span class="s2">It’s been a similar scenario in the Whittlesea LGA in the far north of the Melbourne metro area. Four suburbs have had over 400 house sales each in the past year and five more have each sold between 225 and 300 houses.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">All the suburbs of Whittlesea have had double-digit growth in their median house prices, including four (Epping, Lalor, Mernda and South Morang) which have grown 20-25% and one (Thomastown) which has risen 33%.</span></p>
<p class="p3"><span class="s2">The pattern is similar in the neighbouring Hume LGA. Broadmeadows, Greenvale, Meadow Heights and Roxburgh Park have each sold between 200 and 350 houses, while Craigieburn had made over 500 house sales.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">All the Hume suburbs have had double-digit growth in their median house prices, including six suburbs which have grown more than 20%. They include Jacana (up 26%), Gladstone Park (up 24%) and Broadmeadows (up 29%).</span></p>
<p class="p3"><span class="s2">Most of the suburbs of the Melton LGA in the far north-west have each sold over 200 houses in the past year, led by Melton West (335) and Caroline Springs (343).</span></p>
<p class="p3"><span class="s2">Every suburb has recorded at least 12% growth in median house prices, while Melton and Melton South are both up 27%.</span></p>
<p class="p3"><span class="s2">But, in terms of turnover, the star market is Wyndham City in the south-west heading towards Geelong.<span class="Apple-converted-space"> </span></span></p>
<p class="p3"><span class="s2">The sales turnover is prolific in Hoppers Crossing (682 house sales), Wyndham Vale (436), Tarneit (684), Werribee (791) and in particular Point Cook (953).</span></p>
<p class="p3"><span class="s2">All of the five suburbs mentioned have grown their median house prices at least 13% in the past year, led by Hoppers Crossing (up 21%) and Werribee (up 22%).</span></p>
<p class="p3"><span class="s2">The important lesson is that downmarket, outer-ring areas do record strong price growth and that affordability is a prime driver of activity and prices. That’s especially so in places where the infrastructure is good.</span></p>
<p class="p1"><span class="s1">T<em>erry Ryder is the founder of hotspotting.com.au</em></span></p>
<p class="p1"><span class="s3"><a href="https://mailto:ryder@hotspotting.com.au"><em>ryder@hotspotting.com.au</em></a></span></p>
<p class="p5"><span class="s1"><em>twitter.com/hotspotting</em></span></p>
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terryryder-YECXbqmri2

CBD proximity not essential growth factor as outer-rings soar

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<p class="post-title entry-title">EXPERT OBSERVER</p>
<p class="post-title entry-title"><a href="http://petewargent.blogspot.com.au/2018/04/housing-finance-at-6-month-high"></a><strong style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;"><span style="text-decoration: underline;">Housing finance to slow</span></strong></p>
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<div>The Housing Finance figures were released for February 2018 this week, reported as "Housing finance falls in February" (Australian), "Falls felt for February" (Rate City), and so on.</div>
<div> </div>
<div>Interesting interpretations, given that housing finance was...well, up!</div>
<div> </div>
<div>Anyway, having allowed a few days to elapse, here are four thoughts.</div>
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<div><strong><span style="text-decoration: underline;">1 - Loan sizes up</span></strong></div>
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<div>One less well reported thing that I picked up was the rise in the average loan size over the past year to non-first homebuyers. </div>
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<br><div>Across the states, Victoria has been the main driver of rising average loan sizes, although each of the most populous states has seen an increase over the year. </div>
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<br><div>As a result, owner-occupier commitments rose +1.3 per cent in February, and investor loans were up +0.5 per cent, taking total housing finance to a 6-month high of $33.52 billion.</div>
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<div>Drilling the trendlines through the data shows that total housing finance has essentially been flat for 15 months now, while a fair chunk of refinancing has been in evidence within that total.</div>
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<br><div><strong><span style="text-decoration: underline;">2 - First homebuyer incentives bite</span></strong></div>
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<div>Another notable trend was that first homebuyer loans were up by a third from a year earlier, driven by New South Wales, where the number of first homebuyers doubled from February 2017.</div>
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<div>Homebuyer commitments for new dwellings rose by +6.6 per cent from a month earlier, but are now in a trend decline from 4-decade highs. </div>
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<br><div><strong><span style="text-decoration: underline;">3 - Prevalence of non-banks</span></strong></div>
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<div>Thirdly, the trend result for non-bank lending declined in the month, and remains at only around half the peak levels of a decade ago, but will nevertheless remain a key point of interest as lending standards come into focus. </div>
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<br><div><strong><span style="text-decoration: underline;">4 - Royal Commission to slow lending</span></strong></div>
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<div>Overall housing finance beat expectations despite a small decline in the actual number of home loans. </div>
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<div>The Reserve Bank of Australia (RBA) noted in its Financial Stability Review that an average of $120 billion of interest-only loans per annum are <strong><span style="text-decoration: underline;">due</span> </strong>for conversion between now and 2021.</div>
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<div>Nothing unknown there, though some people misread that as $480 billion of loans that <strong><span style="text-decoration: underline;">will</span></strong> convert to principal repayments, which isn't going to happen.</div>
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<div>Elsewhere, Moody's reported 30+ day delinquencies at 1.45 per cent, down from 1.52 per cent a year earlier, despite some trouble spots including Gladstone, central Queensland, some suburbs of Perth, and other parts of Western Australia. </div>
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<div>A final point, and a key outcome to watch over the days and weeks ahead is the impact of the Royal Commission into banking misconduct.</div>
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<div>It seems that borrowers will now be required to be provide statements on all debts, a loophole closure which appears likely to be a wise move. </div>
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<div>However, there could be some overreach in terms of brokers needing to audit bank statements to support declared living expenses broken down by category, the aim being to reduce the typical reliance on benchmarks. </div>
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<div>There are many problem with this, not least that borrowers tend to have multiple bank accounts and credit cards these days with different banks.<br><br>Certainly private banking clients and affluent borrowers have never been subjected to such scrutiny, which may lead to some interesting discussions! </div>
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<div>Given that loans are already being assessed at mortgage rates way in excess of the rate actually being paid, it seems like overkill.</div>
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<div>If implemented forcefully this will slow the mortgage market and reduce transaction volumes as brokers and borrowers get to grips with the new requirements.<br><br>Mortgage brokers would presumably also need to consider switching to a fee-for-service model to compensate for the exponential increase in paperwork and compliance.<br><br>Regulators in the UK went through their own mortgage market review (MMR) in 2014 which ultimately lowered the risk of borrowers over-stretching and made the industry more professional.<br><br>The MMR also temporarily gummed up the lending market, so we'll have to see what plays out Down Under. </div>
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Royal Commission to slow property lending: Pete Wargent

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<p><span>EXPERT OBSERVER</span></p>
<p><span>Housing finance data from The Australian Bureau of Statistics (ABS) on first home buyer activity has generally shown that this segment of the market has been tracking at below average levels over recent years. </span></p>
<p><span>However, w</span><span>ith </span><span>each state and territory offering some level of incentive to first home buyers including grants and tax concessions, this segment is moving along quite nicely.</span><span><br></span></p>
<p><span>Nationally, there were 8,782 housing finance commitments in February 2018. Although the volume of loans was down on levels in late 2017, it was 33.1% higher than the previous February.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/19/national.jpg" target="_blank">to enlarge.</a></p>
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<p><span>As </span><span>a share of all owner occupier commitments, first home buyers accounted for 17.9% in February 2018 compared to 13.3% the previous year.</span><span><br></span></p>
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<p><span>Across </span><span>the individual states and territories, </span><span>we’re </span><span>seeing </span>several varying trends emerge – all likely due to activity across other buyer types in the market and how recently certain incentives have become available.</p>
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<p><span>Performance around the States:</span></p>
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<p><span>NSW: February 2018 saw 2,246 first home buyer housing finance commitments compared to 1,105 the previous year which is an increase of 103.3%. Since the end of June 2017, stamp duty concessions have become available and over the 8 months there have been 18,400 commitments compared to </span><span>10,857 over the previous 8 months. First home buyers now account for 15.1% of owner occupier finance commitments up </span><span>from 7.5% a year earlier. </span>The 15.1% is the greatest share 3,000 since October 2012.</p>
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<p><span>Vic: 2,619 finance commitments to first home buyers in </span>February 2018. The number of commitments was 38.6% higher than a year earlier. Vic also saw stamp duty exemptions go live on July 1 last year. From the end of June there have been 23,996 first home buyer commitments compared to 17,522 over the previous 8 months. First home buyers accounted for 18.3% of commitments compared to 13.9% a year earlier.</p>
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<p><span>Qld: Over the month there were 1,839 first home buyer housing finance commitments. The number of commitments was only marginally higher from a year ago (+3.8%). First home buyers have been much more active over recent years than in NSW and Vic although, it should be noted investors have been much less active in the Qld market. First home buyers accounted for 19.3% of the market in February 2018 compared to 17.6% a year earlier. </span></p>
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<p><span>SA: In February 2018 there were 443 first home buyer housing finance commitments. Although the number was lower than those recorded late last year, it was 17.8% higher than the previous February. Despite house values being the lowest of any mainland capital city, SA has the lowest share of first home buyer activity of any state or territory with 13.0% of owner occupier commitments going to first home buyers, a year ago they accounted for a 10.5% share so they have risen a little. </span></p>
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<p><span>WA: There were 1,185 first home buyer finance commitments in February 2018 which was -0.1% fewer than the volume in</span><span> </span><span>FHB No. (LHS) </span><span>February 2017. WA is the only state or territory in which there </span><span>were fewer commitments to first home buyers than a year ago. </span><span>Despite the fall in volumes, first home buyers account for </span><span>25.0% of all owner occupier housing finance commitments </span><span>compared to 22.2% a year ago.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/19/WA.jpg" target="_blank">to enlarge.</a></p>
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<p><span>Tas: Over the month of February 2017 there were 137 first home buyer housing finance commitments which was 2.2% higher than the previous February. As a share of all owner occupier housing finance commitments, first home buyers account for 13.9%, up marginally from 13.8% a year ago. A common commentary is that a lot of younger people are moving to TAS to buy a home because they </span><span>can’t </span><span>afford one on the mainland. Although the number of first home buyers </span><span>rose over the year, they remain very low which suggests, at </span><span>least at this stage, first home buyers in TAS are not particularly </span><span>active. </span></p>
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<p><span>NT: While 52 first home buyer commitments in February 2018 is quite a low number, it is 26.8% higher than the previous year despite a sharp monthly fall. As a share of all owner occupier commitments, first home buyers account for 19.4% compared to 14.7% a year earlier however, the share is currently trending lower. </span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/4/19/NT.jpg" target="_blank">to enlarge.</a></p>
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<p><span>ACT: The 261 first home buyer housing finance commitments </span>in February 2018 was a 177.7% increase in the number from the previous year. As a share of all owner occupier commitments, first home buyers accounted for 25.6% in February 2018 which was the highest share since October 2009.</p>
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<p><span>The latest trends in first home buyer activity highlights the </span>sensitivities of this important market segment to both affordability constraints as well as market incentives such as first home buyer grants and stamp duty concessions.</p>
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<p>Despite overall slowing conditions in Sydney and Melbourne, the CoreLogic home value indices results show that the more affordable end of the housing markets in these cities as still seeing values rise and likely generated by first home buyer activity.</p>
<p>In other cities where affordability constraints are less severe, in the absence of any changes to first home buyer incentives, first time buyers generally remain more active relative to Sydney and Melbourne.</p>
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<p><span>With </span><span>demand from the investment segment expected to continue to be weaker than it has over recent years, this may afford more opportunities for first home buyers to enter the market.</span><span><br></span></p>
<p><span>Outside </span><span>of the two largest cities, first home buyer volumes </span><span>may lift over the coming months due to ongoing low mortgage rates and relative affordability compared to Sydney and</span><span> </span><span>Melbourne. In fact, the outflow of people from NSW to other states and territories is continuing to rise which may result in </span><span>increases in first home buyers elsewhere.</span><span><br></span></p>
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<p><span><em><span>CAMERON KUSHER</span> is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/"><span class="s2">here</span></a>.</em></span></p>
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First home buyer levels tracking below average levels for years

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<div>SQM Research reported its always-excellent vacancy rates index today for the month of May 2018, with vacancy rates nationally at 2.1 per cent, down marginally from 2.3 per cent a year earlier. </div>
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<div>And the figures showed a fifth consecutive decline for vacancies in Brisbane.</div>
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<div>Brisbane's city-wide vacancy rate was down to 2.9 per cent, from 3.5 per cent a year earlier. </div>
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<div>This accords well with what we've been seeing on the ground in Brisbane.</div>
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<div>Indeed, family-appropriate dwelling stock is now often renting at the first open home, with numerous instances of multiple offers and rentals achieving above the asking price. </div>
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<div>There are still some notable pockets of pain, of course, most evidently in the inner-city high rise 'investor stock', where rental guarantees mask what is often optimistically pitched product.</div>
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<div>There are also more high-rise units in the post for the CBD, with the SkyTower construction now well underway. </div>
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<div>Generally speaking and across the city, however, the rental market is rebalancing as construction slows, thanks to positive interstate migration and somewhat pacier net overseas migration, and is in better nick than a year earlier.</div>
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<div>Plotted below are the vacancy rate figures by capital city smoothed on a 6mMA basis (not seasonally adjusted). </div>
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<div>As you can see, while Brisbane has now turned a corner, Sydney is now experiencing a high rate of unit completions with considerably more new apartment stock choice for renters. </div>
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<div>Sydney's vacancy rate of 2.5 per cent was well up from 1.7 per cent in May 2017. </div>
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<div>Elsewhere, Perth is grinding its way back from its punishing rental market nadir (please don't email about terminology: if you don't like it substitute with an antonym; it's really not that difficult!), while Hobart remains a tight rental market despite a slight loosening year-on-year.<br><br>It will be interesting to see at what point rising prices in Hobart spark a significant supply response, in what is a relatively small city, though some developers are reluctant to stray from the mainland due to the additional logistical challenges. </div>
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<div>Melbourne's vacancy rate was the same as it was a year earlier at just 1.4 per cent, despite hectic rates of dwelling construction. </div>
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<div>The Adelaide rental market has generally been tightening for some time now.<br><br>And finally, Canberra's rental vacancies have plummeted since the experiment with housing taxation, and it remains to be seen when a new rental market equilibrium is reached. </div>
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Brisbane rental guarantees mask optimistically pitched apartment product: Pete Wargent

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<div>The Reserve Bank released its Board Meeting Minutes today for June 2018. </div>
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<div>I noted the other day that there was an addition in June relating to declining mortgage rates on outstanding loans. </div>
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<div>It was interesting to note that in today's release the wording was given a little tweak to add a bit more clarity, suggesting that mortgage rates on new housing are no longer falling. </div>
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<div>There was a bit of discussion about the positive impacts of immigration on the ageing population.<br><br>Australia has experienced strong population growth over the past decade.<br><br>Thanks to young migrants, notably the median age had declined in New South Wales and Victoria.<br><br>There was a murmur of excitement due to there being no direct reference to the next move in rates being up.</div>
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<div>Not sure I'd read too much into that personally, although currency markets flickered a little!</div>
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<div>There was also a reference to wages being 'low and stable' which isn't wording that exactly screams imminent tightening, although there is reportedly some evidence of wage pressures in parts of the economy. </div>
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<div>In any event, reality is dawning on financial markets, with RBA meeting overnight indexed swaps looking increasingly skinny and now not pricing in a hike until 2020. </div>
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<div><em><span style="text-decoration: underline;">Source: Martin Whetton, ANZ</span></em></div>
<p><br><span>And a lot might change between now and 2020 - including the government.</span><br><br><span>As you were.</span></p>
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