Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

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

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

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A commercial property in Manning, Western Australia that comes with over 200sqm building size has been scheduled to go under the hammer. 
The property at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=SGo3TkFVMGk3Y2ZPOE85WGl6VW40UFZKb3JqbERncnpQdE1ITFlNc0psMzR0U0oyODh3RHdrVEt5MmIrNzVLVnV2N1JmL2w2R1hlMG43cWNaMkJpL3lnMGN3bFoxdzYzdXIvL1VuLzd4Vm05STNhdjF6UW05THBPRXE1ZGR1dlFodHd4L01ZVmZ3T3NTL05ONFYzWlk3QnlEWjNkQU8rSm9LbEhaTTFmL3NrPQ==&amp;rh=ff00670e578ae0210b51f040c94898ac06b09383" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">19 Welwyn Avenue</a> is leased to Woolworths (operating as BWS) on a five-year lease with five options of five years each.
It is being marketed and sold at auction by Ray White Commercial (WA) Property Advisor Brett Wilkins.
“This is the perfect opportunity for investors seeking the security of a Woolworths lease to buy into a pretty neighbourhood strip centre,” Mr Wilkins said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/8/14/2500DJI_0724%20Custom.jpg" alt="">   “In an established suburb within the municipality of the City of South Perth, Welwyn Avenue has attracted multiple high-profile tenants including Woolworths Group Limited, Australia Post and IGA.
“Manning is in an enviable position close to Curtin university and is just 7km from the CBD - while still being removed to enjoy the benefits of suburban life.
“Manning is seriously under-supplied with retail and the asset is on Welwyn Avenue, a major road connecting to Manning Road, giving easy access from north, south and west."    The property is owned by a commercial real estate agent who chose Ray White Commercial (WA) to sell. 
The auction will take place on August 26. 
 
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j.ballantyne1990-6AQqhLzZaK

Manning's BWS freehold heads to auction

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Research released by Knight Frank confirms that despite lockdowns in response to COVID-19 around the world, 153 residential real estate transactions above US$10m (AU$14.3m) have taken place globally between March and June 2020, with a total value of US$3.2bn (AU$4.6bn). 
However, despite positivity that the global super-prime market didn’t buckle during lockdown, transaction levels to the end of H1 2020 are below the levels seen in H1 2019, with 281 super-prime (US$10m+ / AU$14.3m+) transactions taking place January to June 2020 compared to 594 over the same period 2019. 
The research looks at how 12 key super-prime markets around the world performed in H1 2020 compared to H1 2019 and delves into the number of transactions completed since March 2020 when COVID-19 was officially labelled a pandemic, lockdowns were enforced around the world and international travel ceased.  
Total Transaction Volumes 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="118">
Market
</td>
<td valign="top" width="118">
H1 2019
</td>
<td valign="top" width="113">
H1 2020
</td>
<td valign="top" width="132">
March – June 2019
</td>
<td valign="top" width="151">
March – June 2020
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Hong Kong
</td>
<td valign="bottom" width="118">
155
</td>
<td valign="bottom" width="113">
60
</td>
<td valign="bottom" width="132">
111
</td>
<td valign="bottom" width="151">
41
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Los Angeles
</td>
<td valign="bottom" width="118">
77
</td>
<td valign="bottom" width="113">
52
</td>
<td valign="bottom" width="132">
58
</td>
<td valign="bottom" width="151">
35
</td>
</tr>
<tr>
<td valign="bottom" width="118">
New York
</td>
<td valign="bottom" width="118">
137
</td>
<td valign="bottom" width="113">
41
</td>
<td valign="bottom" width="132">
100
</td>
<td valign="bottom" width="151">
19
</td>
</tr>
<tr>
<td valign="bottom" width="118">
London
</td>
<td valign="bottom" width="118">
75
</td>
<td valign="bottom" width="113">
24
</td>
<td valign="bottom" width="132">
56
</td>
<td valign="bottom" width="151">
16
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Palm Beach and Broward
</td>
<td valign="bottom" width="118">
29
</td>
<td valign="bottom" width="113">
24
</td>
<td valign="bottom" width="132">
24
</td>
<td valign="bottom" width="151">
10
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Singapore
</td>
<td valign="bottom" width="118">
29
</td>
<td valign="bottom" width="113">
27
</td>
<td valign="bottom" width="132">
24
</td>
<td valign="bottom" width="151">
8
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Sydney
</td>
<td valign="bottom" width="118">
13
</td>
<td valign="bottom" width="113">
15
</td>
<td valign="bottom" width="132">
12
</td>
<td valign="bottom" width="151">
6
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Dubai
</td>
<td valign="bottom" width="118">
17
</td>
<td valign="bottom" width="113">
8
</td>
<td valign="bottom" width="132">
13
</td>
<td valign="bottom" width="151">
6
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Miami
</td>
<td valign="bottom" width="118">
25
</td>
<td valign="bottom" width="113">
12
</td>
<td valign="bottom" width="132">
16
</td>
<td valign="bottom" width="151">
4
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Orange County
</td>
<td valign="bottom" width="118">
24
</td>
<td valign="bottom" width="113">
9
</td>
<td valign="bottom" width="132">
21
</td>
<td valign="bottom" width="151">
4
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Geneva
</td>
<td valign="bottom" width="118">
10
</td>
<td valign="bottom" width="113">
8
</td>
<td valign="bottom" width="132">
9
</td>
<td valign="bottom" width="151">
3
</td>
</tr>
<tr>
<td valign="bottom" width="118">
Melbourne
</td>
<td valign="bottom" width="118">
3
</td>
<td valign="bottom" width="113">
1
</td>
<td valign="bottom" width="132">
2
</td>
<td valign="bottom" width="151">
1
</td>
</tr>
</tbody></table>
Knight Frank’s Erin van Tuil, Partner, Crown Residences at One Barangaroo, said: “In half one of 2020 transactions were down in 11 of the 12 markets analysed. Sydney was the stand out market and the only one to record an increase in sales compared to half one 2019, from 13 to 15 transactions respectively.
“Looking at the period between March and June 2020, there were six sales in Sydney compared to 12 in the same period last year. However, Sydney’s super-prime market is set for a successful year thanks to its fundamentals as a city, poising it for resilience, strength and stability.”
Leading on the sales of Crown Residences at One Barangaroo, a development which will consist of 82 super-prime and ultra-prime homes, van Tuil experiences first-hand the positive performance of Sydney’s prime market, despite the effects of the pandemic. From her commentary on viewer testimonials, it is clear to see why appetite for high end homes remains.
van Tuil said: “We are receiving a record number of enquiries for Crown Residences at One Barangaroo, Australia’s first fully-integrated hotel branded residences. While we had a quieter April, we received the highest number of enquiries to date in February and June 2020, and sales are performing phenomenally well.  
“After a period of dislocation, the flight to quality property from active participants in the market has increased dramatically. Buyers are looking for a more intimate connection to their homes with space, ceiling height, privacy, services, and the beauty of a building being front of mind. These feelings are evident in viewers of Crown Residences at One Barangaroo, who are attracted by the private sanctuary of the Residences amidst the proximity to public space, with the services and amenities from the hotel below having become more appealing than ever.”
Overall, four markets were within seven of their March to June 2019 levels of transactions, Melbourne only one below, Geneva six below and Dubai seven below, with a total of six sales. 
Total Sales Volume 
Despite the falling number of transactions, deal values were generally higher. Overall, the global average transaction value increased by 15 percent for the March to June period, at US$20.7m (AU$29.6m) compared to US$18m (AU$25.8m) for the same period in 2019.
Sydney recorded a significant rise in average transaction value to US$16.8m (AU$24m), up from US$12.6m (AU$18m) in 2019, an increase of 33 percent. London saw the largest increase and takes the top spot with an average transaction value of US$38m (AU$54.5m), compared to US$16.9m (AU$24.2m) over the same period as last year.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="218">
Market
</td>
<td valign="top" width="218">
Total Sales Volume March - June 2019 (US$ million)
</td>
<td valign="top" width="218">
Total Sales Volume March - June 2020 (US$ million)
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Hong Kong
</td>
<td valign="bottom" width="218">
2,351 
</td>
<td valign="bottom" width="218">
812 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Los Angeles
</td>
<td valign="bottom" width="218">
1,098 
</td>
<td valign="bottom" width="218">
693 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
New York
</td>
<td valign="bottom" width="218">
1,793 
</td>
<td valign="bottom" width="218">
363 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
London
</td>
<td valign="bottom" width="218">
944 
</td>
<td valign="bottom" width="218">
608 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Palm Beach and Broward
</td>
<td valign="bottom" width="218">
333 
</td>
<td valign="bottom" width="218">
170 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Singapore
</td>
<td valign="bottom" width="218">
454 
</td>
<td valign="bottom" width="218">
130 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Sydney
</td>
<td valign="bottom" width="218">
152 
</td>
<td valign="bottom" width="218">
101 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Dubai
</td>
<td valign="bottom" width="218">
173 
</td>
<td valign="bottom" width="218">
80 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Miami
</td>
<td valign="bottom" width="218">
255 
</td>
<td valign="bottom" width="218">
52 
</td>
</tr>
<tr>
<td valign="bottom" width="218">
Orange County
</td>
<td valign="bottom" width="218">
309 
</td>
<td valign="bottom" width="218">
59 
</td>
</tr>
</tbody></table>
However, Hong Kong ranks highest for the number of transactions and total sales volume with 60 having taken place in 2020 so far worth a combined US$1.2bn (AU$1.7bn). There have been 41 since March and, whilst this is less than half of the 155 in the first half of 2019, it is only marginally down from the 74 in the second half of 2019 when the city grappled with social unrest. 
New York has the third highest number of super-prime sales this year with 41, behind 52 in Los Angeles, and almost half of these (19) have taken place since March. With the city being particularly hard hit by COVID-19, accounting for approximately one in six of all US cases in April, this demonstrates resilience and that the fundamentals remain.
Ultra-Prime Market (US$25m / AU$35.8m)
The research also takes a look at the ultra-prime market (above US$25m / AU$35.8m) in these 12 areas. It highlights that eight of these markets saw one or more transactions in the ultra-prime market over the March to June 2020 period. Two saw more sales than the same period last year and two held steady, with a total of US$1.3bn (AU$1.8m) transacted.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="218">
Market
</td>
<td valign="top" width="218">
Total Transactions March - June 2019
</td>
<td valign="top" width="226">
Total Transactions March - June 2020
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Hong Kong
</td>
<td valign="top" nowrap width="218">
20
</td>
<td valign="top" nowrap width="226">
8
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
London
</td>
<td valign="top" nowrap width="218">
6
</td>
<td valign="top" nowrap width="226">
6
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Los Angeles
</td>
<td valign="top" nowrap width="218">
12
</td>
<td valign="top" nowrap width="226">
5
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
New York
</td>
<td valign="top" nowrap width="218">
16
</td>
<td valign="top" nowrap width="226">
3
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Palm Beach and Broward
</td>
<td valign="top" nowrap width="218">
1
</td>
<td valign="top" nowrap width="226">
2
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Geneva
</td>
<td valign="top" nowrap width="218">
2
</td>
<td valign="top" nowrap width="226">
2
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Sydney
</td>
<td valign="top" nowrap width="218">
0
</td>
<td valign="top" nowrap width="226">
1
</td>
</tr>
<tr>
<td valign="top" nowrap width="218">
Singapore
</td>
<td valign="top" nowrap width="218">
3
</td>
<td valign="top" nowrap width="226">
1
</td>
</tr>
</tbody></table>
Sydney went from zero sales above US$25m (AU$35.8m) in March to June 2019 to one over the same period in 2020. Hong Kong has once again seen the highest number of ultra-prime sales in this time period with eight and a total of 10 so far in 2020, down from 30 in the first half of 2019. However, in terms of total volume of sales, London leads the way with US$434m (AU$621.2m) in sales followed by Hong Kong’s US$372m (AU$532.4m).
van Tuil said: “We expect momentum in the ultra-prime segment will continue as ultra-high-net-worth individuals look for more spacious options post-lockdown. The 82 Residences at Crown Residences at One Barangaroo offer a mix of homes within the super-prime and ultra-prime segments. Viewers are looking across these segments at the two, three and four bedroom Residences that we have remaining on the market, as well as the breath-taking Duplex Penthouse.”
Mark Manners, Head of Prestige Residential, Knight Frank Australia, concludes: “Global events like the COVID-19 pandemic can disrupt sales processes. However, you tend to find sales are postponed, rather than cancelled. Super – prime and ultra-prime property is viewed as a safe investment for the long-term, so buyer interest has not dampened and is expected to increase as markets continue to exit lockdown.”
 
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Sydney’s super-prime residential market outperforms expectations despite COVID-19 lockdowns 

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Twisted Dessert Bar has agreed terms on a new lease over a single level retail property at Fitzroy in Melbourne’s inner north in a deal brokered by Teska Carson’s Reece Israel.  
The 329 Brunswick Street property comprises a 130 square metre retail premises with several metres frontage to Brunswick Street and rear laneway access via a roller shutter door.
Mr Israel said the property was leased on a three year term with two x three year options at $35,000 per annum net.
He said the tenant had been in the market for a well located space in terms of both amenity and access.
"The property is located in one of Melbourne’s most popular restaurant, fashion and entertainment precincts just ten minutes from the centre of Melbourne. It is also close to the Eastern Freeway and has trams running past the front door.
"It was a great fit for the tenant’s requirements,’’ Mr Israel said.
The lessor is a Melbourne based investor.
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Twisted Dessert Bar takes Fitzroy's Brunswick Street lease

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Queensland’s Logan is set to become to the largest suburban-based medical precinct in the country as development for the new Southwest Medical Precinct commences.
Spearheaded by the Horwell family, the centre will become a hub for regional connections and community activities.
“There is a reason the Southwest Medical complex is already being coined a key component of the broader  ‘medtropolis’ – this centre is going to thrive and become a bustling centre for a broad range of health, wellness and other related products and services,” Benjamin Horwell said.
Designed by Cottee Parker Architects, the centre will be modern and fresh with an abundance of free parking.
The development builds on Logan City Council's vision within the Meadowbrook Master Plan, to be a Health and Knowledge Precinct for the city.
The complex, due for completion in late 2021, has secured a significant tenancy from the University of Queensland’s UQ Health Care.
Securing a 725 sqm ground floor tenancy, the leading research organisation will provide an extensive range of health services and offer training opportunities to the next generation of doctors and nurses.
UQ Health Care will bring over 100,000 people to the centre every year.
Sites and leases are currently available in the centre and opportunities are available for retail and complementary medical providers and specialists from 68m2 to 1,000m2. 
Located 200m from Logan Hospital and just minutes from the Logan motorway, the centre will offer its tenants and customers unrivalled exposure and convenience.
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Australia's most significant new medical precinct gets underway

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Streets across NSW will be transformed into vibrant pedestrian-friendly public spaces with the NSW Government announcing the successful funding recipients under the $15 million Streets as Shared Spaces program.
Minister for Planning and Public Spaces Rob Stokes said the funds will help 27 regional councils and 14 councils across Greater Sydney deliver temporary street transformations, such as cycleways, pop-up parklets and improved lighting.
“These projects will transform neighbourhoods across the State, making it easier for people to walk or ride to local shops and services by creating safe, attractive and accessible streets and public spaces,” Mr Stokes said.
Successful trial projects will provide new pedestrian and cycleway connections and  reclaim little-used carparks and roads across NSW, including:
•  creation of a ‘green spine’ on Harbour Drive in Coffs Harbour;
•  activation of an underutilised laneway in Parramatta;
•  a temporary road closure to create a public square in Griffith; and 
•  a pop-up park on Dunmore Street, Wentworthville. 
The Streets as Shared Spaces program provides funding for councils to support the delivery of short-term improvements to local streets and public spaces through pop-ups and pilots that encourage social distancing and improve the attractiveness of our neighbourhoods. 
There are two types of project grants under the program: Quick Response Demonstration Projects valued at up to $100,000 per project, to be delivered within three months of approval, and Pilot Projects valued at up to $1 million per project to be delivered within one year of approval. 
Councils will need to obtain all of the relevant approvals and engage with their community in delivering the projects.
 
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Shared spaces to transform streets across NSW

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A 27-level high state-of-the-art commercial office building on Little Collins Street has been approved by the City of Melbourne.
It is set to redefine the traditional office space by creating a vertical community with a strong emphasis on sustainability, technology, health and well-being.
Developed by Golden Age Group and featuring an all-star design team by Cox Architecture, Hecker Guthrie and Jack Merlo, 130 Little Collins Street will combine retail and office spaces, including state-of-the-art amenities, private end of trip facilities and sustainable garden terraces throughout.
Golden Age purchased the site in 2019 from the Uniting Church, where it served as the Uniting Church’s Victorian and Tasmanian headquarters for the last 52 years since the building was built in 1967.
Golden Age Group Founder and Managing Director Jeff Xu said 130 Little Collins Street reimagines the typical commercial office building and in a post-COVID world, is more relevant than ever before.
“The typical commercial building has been turned on its head as a result of COVID; businesses have realised they can work efficiently outside of the corporate environment and they no longer want to share with hundreds of other tenants.
“Instead, we’re foreseeing a preference towards more boutique floorplans as a result of businesses scaling down their requirements for an office, coupled with something that greater emphasises lifestyle, which we’ve achieved through sustainable design, state of the art amenities and new-age technology.
“!30 Little Collins Street is more akin to a lifestyle hotel design than a typical commercial office tower,” he said.
On offer will be food and beverage offerings; a business centre; office spaces throughout; garden terraces; an airline lounge and a communal garden rooftop terrace.
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With an emphasis on sustainability and wellbeing, 130 Little Collins Street will look to target 5-Star NABERS, 5-Star Green Star Design &amp; As-Built, in addition to WELL Certification.
The project is set to launch to market in the coming months.
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Golden Age Group receives green light for new state-of-the-art commercial office building

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Albion Central, a fully leased new service and retail and medical centre boasting a 10-year WALE has been announced for sale. 
The property is being sold by JLL together with Morrison Project Consulting. 
JLL Senior Director and Joint Head of Retail Investments Australia, said Albion Central was of the most outstanding convenience retail centres in Brisbane’s affluent inner north.  
“The freehold interest provides a secure, long term income stream, in addition to a strong capital growth outlook and long-term re-development potential.” 
“At home on 2,400sqm, the centre caters to a high-profile demographic and has a tenancy mix to suit - all are on brand-new 10-year leases with fixed annual rent reviews of 3.50% or higher.
“Offering a 10-year WALE, Albion Central will provide the successful purchaser with a secure, long term income stream. Given the rental position, after 10 years the property will be producing a gross income of over $1,321,000 per annum.” 
The property occupies a corner position fronting the Albion Fiveways on the doorstep to the blue-ribbon suburb of Ascot, Clayfield and Hamilton, with exposure to over 80,000 passing cars per day. 
Just opened in July 2020, the centre is fully leased to seven boutique retailers, anchored by Albion Marketplace and Next Practice Medical.  
Albion Central is being offered For Sale via Expressions of Interest closing September 17.
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Albion Central, Brisbane’s inner north retail centre listed for sale

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EXPERT OBSERVER
Australian supermarket giant Woolworths has announced its single biggest investment in logistics infrastructure, spending A$780 million to replace up to 1,300 workers with robots.
It plans to build one semi-automated and one fully automated distribution centre in south-west Sydney. About 650 jobs will be created at the new centres, to open in 2024. Three existing centres (two in Sydney, one in Melbourne) will close as a result.
Woolworths’ chief supply chain officer, Paul Graham, emphasised <a href="https://www.itnews.com.au/news/woolworths-to-build-automated-distribution-centres-in-nsw-549603" target="_blank">the safety benefits</a> of automation:
Cutting-edge automation will build tailored pallets for specific aisles in individual stores – helping us improve on-shelf product availability with faster restocking, reducing congestion in stores, and enabling a safer work environment for our teams with less manual handling.
In these COVID-conscious times that’s the obvious spin.
But it’s true this is a response to the changes being wrought on the retail sector by COVID-19.
The principal change is a matter of pace. COVID-19 has turbocharged the shift to online shopping. Even as social-distancing rules ease, this trend will consolidate. Many bricks-and-mortar shops are in trouble, particularly those in shopping centres.
Retail will also be shaped by how COVID-19 has changed our shopping behaviour, with thrift and value being important.
<h2>Shopping online is the new norm</h2>
In April, 5.2 million Australians shopped online, according to Australia Post’s <a href="https://auspost.com.au/content/dam/auspost_corp/media/documents/2020-ecommerce-industry-report.pdf" target="_blank">2020 eCommerce Industry Report</a>. The Australian Bureau of Statistics estimates those sales were worth A$2.7 billion, <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/8501.0Main%20Features3Apr%202020?opendocument&amp;tabname=Summary&amp;prodno=8501.0&amp;issue=Apr%202020&amp;num=&amp;view=" target="_blank">11.1% of all physical retail sales</a>, compared with 7.1% in March 2019.
This <a href="https://www.afr.com/companies/retail/grocery-deliveries-delayed-as-online-shopping-soars-20200309-p5483v" target="_blank">sharp hike in demand</a> exposed weaknesses in retailers’ <a href="https://home.kpmg/au/en/home/insights/2020/04/coronavirus-COVID-19-retail-survival-and-revival" target="_blank">online capabilities</a>. For example, crushing online demand meant both Woolworths and major rival Coles temporarily <a href="https://insidefmcg.com.au/2020/03/17/woolies-and-coles-suspend-online-orders-as-shoppers-descend-on-sites/" target="_blank">suspended</a> their online shopping services.
More automated fulfilment centres are part of meeting these online demands. Of course, such investments were already on the radar.
In March 2019, Coles announced <a href="https://www.colesgroup.com.au/media-releases/?page=coles-enters-partnership-with-ocado" target="_blank">an exclusive deal</a> to use the “end-to-end online grocery shopping solution” developed by Ocado, a British online supermarket chain that has no stores, only warehouses. Its technology spans the online shopping experience, automated fulfilment and home delivery.
The Coles plan included two new “highly automated” customer fulfilment centres in Melbourne and Sydney, to be ready in 2023. Coles also announced plans for two new automated distribution centres in Queensland and NSW, costing A$700 million, <a href="https://www.afr.com/companies/retail/redundancies-loom-as-coles-eyes-automation-spend-to-catch-woolworths-20181004-h168qt" target="_blank">in October 2018</a>.
Woolworths itself has already opened the Melbourne South Regional Distribution Centre.
So these latest moves are part of a trend, albeit one unexpectedly accelerated by COVID-19. And once consumers try new channels, <a href="https://journals.sagepub.com/doi/full/10.1509/jm.09.0362" target="_blank">studies</a> show, they are likely <a href="https://link.springer.com/article/10.1007/s40547-014-0031-y" target="_blank">to stick with them</a>.
<h2>The future is dark</h2>
At the other end of the supply chain, the shift to online shopping has created demand for “<a href="https://www.businessinsider.com.au/dark-stores-online-retail-coronavirus-2020-4" target="_blank">dark stores</a>” – essentially, stores without customers. These smaller, decentralised facilities, located in suburbs rather than industrial parks, are designed to pick and dispatch online orders quickly.
Woolworths opened its first dark store <a href="https://www.smh.com.au/business/companies/woolworths-opens-first-onlineonly-dark-store-20140811-102lh0" target="_blank">in Sydney in 2014</a>. <a href="https://www.smh.com.au/business/companies/dark-stores-coles-trials-shops-with-no-customers-20160622-gpowau" target="_blank">Coles</a> opened its first in Melbourne in 2016. Existing stores are also being repurposed as dark stores. In April 2020, Australia’s Kmart temporarily converted three stores to use <a href="http://mhdsupplychain.com.au/2020/04/17/kmart-closes-stores-to-convert-them-into-distribution-centres/" target="_blank">as fulfilment centres</a>.
Such moves may become permanent, as shoppers demand faster delivery times and physical store assets become less viable as “traditional” retail businesses.
Existing stores are also being adapted to respond to customer demands for faster, more efficient online shopping. In January 2020, Woolworths began building its first “<a href="https://www.woolworthsgroup.com.au/page/media/Press_Releases/carrum-downs-the-first-woolworths-in-australia-to-get-cutting-edge-online-shopping-technology/" target="_blank">eStore</a>” - an automated facility adjoining its supermarket in Carrum Downs, Melbourne.
<h2>Fewer, smaller stores</h2>
As online shopping increasingly provides greater revenue streams for retailers, more physical store closures are also on the cards.
In May, Kmart’s owner, Wesfarmers, announced it would <a href="https://theconversation.com/dont-blame-covid-19-targets-decline-is-part-of-a-deeper-trend-139205" target="_blank">shut 75</a> of its Target stores (and convert the rest to Kmart stores). Also looking to downsize are Australian department store icons <a href="https://www.smh.com.au/business/companies/myer-better-off-with-fewer-stores-geoff-wilson-20200330-p54f77" target="_blank">Myer</a> and David Jones, which have accelerated their plans to reduce floor space <a href="https://www.smh.com.au/business/companies/david-jones-accelerates-store-closures-as-sales-slump-35-per-cent-20200527-p54wyj" target="_blank">20% by 2025</a>.
Footwear giant Accent Group – which owns more than a dozen shoe brands and has more than 500 stores in Australia and New Zealand – is planning to close <a href="https://www.9news.com.au/national/accent-to-close-28-in-shift-to-online-retail/3a547554-27f3-4413-9675-3510f7c74437" target="_blank">28 stores</a> and focus more on online sales.
As online revenues grow, expect more “right-sizing” and closures.
<h2>Repurposing shopping centres</h2>
All these closures will add to the woes of shopping centres.
Though crowds reportedly <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-05-09/shoppers-raise-alarm-over-coronavirus-social-distancing/12231780" target="_blank">surged</a> back to centres when “lockdown” restrictions were eased, growing awareness that the pandemic is not over and social distancing protocols continue to <a href="https://theconversation.com/coronavirus-has-turned-retail-therapy-into-retail-anxiety-keeping-customers-calm-will-be-key-to-carrying-on-138777" target="_blank">create consumer anxiety</a>.
Until people feel safe shopping, dining and gathering in crowded public places, <a href="https://www.smh.com.au/business/markets/damaged-and-scarred-psychological-effect-of-pandemic-set-to-hold-back-economic-recovery-20200506-p54q64" target="_blank">consumer aversion</a> will remain.
In response to these COVID-conscious times, shopping centres will endeavour to enhance those aspects of the shopping experience, such as sensory elements and entertainment, which the online shopping experience can’t provide.
The retail mix will change: fewer fashion and general merchandise shops, and more services such as medical centres, offices and childcare centres.
<h2>Opportunities for smaller retailers</h2>
One bright spot may be for local and independent shops.
Smaller retailers can often adapt faster than larger ones. Smaller community pharmacies, for example, implemented social distancing and hygiene measures more easily than larger retailers, due mainly to their smaller size and having less traffic.
There are opportunities to leverage shoppers’ desire to <a href="https://thenewdaily.com.au/finance/consumer/2020/03/19/coronavirus-small-business-support/" target="_blank">support</a> local shopkeepers, producers and growers. Locally made goods and services are also less likely to have long supply chains that will impede overseas deliveries while COVID-19 is uncontained.
But they’ll still need to sort out their online shopping experience.<img src="https://counter.theconversation.com/content/139025/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/gary-mortimer-1322" target="_blank">Gary Mortimer</a>, Professor of Marketing and Consumer Behaviour, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847" target="_blank">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/jana-bowden-380114" target="_blank">Jana Bowden</a>, Associate Professor of Marketing and Consumer Behaviour, <a href="https://theconversation.com/institutions/macquarie-university-1174" target="_blank">Macquarie University</a>; <a href="https://theconversation.com/profiles/jason-pallant-8729" target="_blank">Jason Pallant</a>, Lecturer of Marketing, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</a>; <a href="https://theconversation.com/profiles/louise-grimmer-212082" target="_blank">Louise Grimmer</a>, Senior Lecturer in Marketing, <a href="https://theconversation.com/institutions/university-of-tasmania-888" target="_blank">University of Tasmania</a>, and <a href="https://theconversation.com/profiles/martin-grimmer-330523" target="_blank">Martin Grimmer</a>, Professor of Marketing, <a href="https://theconversation.com/institutions/university-of-tasmania-888" target="_blank">University of Tasmania</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/covid-19-has-changed-the-future-of-retail-theres-plenty-more-automation-in-store-139025" target="_blank">original article</a>.
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COVID-19 has changed the future of retail: there’s plenty more automation in store

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EXPERT OBSERVER
It’s wrong to expect a “snap-back” at shopping centres, food courts, cinemas and other places where people used to gather to spend money.
We’ve identified three reasons why spending in physical stores on goods like clothes is likely to remain much lower than it was for a long time.
<h2>1. Fear, much of it age-based</h2>
First, even when governments relax restrictions, lots of people will still be worried and will go out less. Unless there are zero cases for several weeks in a state or city, many people will remain reluctant to go out.
This is why we have previously argued that there is a big dividend in <a href="https://theconversation.com/the-case-for-endgame-c-stop-almost-everything-restart-when-coronavirus-is-gone-134232" target="_blank">eliminating</a> COVID-19 in the style of New Zealand, the Northern Territory, and South Australia, rather than bumping along with “suppression” – and several new locally-acquired cases a day – as Victoria is still doing.
This reluctance to go out and spend, irrespective of government restrictions, could be seen in Australia before government restrictions were imposed, as shown on the “Consumers and mobility” tab of the <a href="https://grattan.shinyapps.io/covid-econ-tracker/" target="_blank">Grattan Econ Tracker</a>.
The effects of fear shouldn’t be underestimated.
Spending in <a href="https://arxiv.org/pdf/2005.04630.pdf" target="_blank">Sweden</a> has fallen almost as much as in Denmark, even when Denmark was in lockdown and Sweden had minimal restrictions. Swedes are afraid to go out, particularly if they are old.
Spending by people aged 70+ has fallen further in Sweden than in Denmark, and 60-69 year-olds have cut their spending by about the same amount in both countries.
This isn’t surprising. COVID-19 is much more deadly for older people.
Age-based fear is a challenge for retailers because older households now spend significantly more than younger households. 25 years ago it was the <a href="https://grattan.edu.au/wp-content/uploads/2019/08/920-Generation-Gap.pdf" target="_blank">other way around</a>.
<h2>2. Time to form new habits</h2>
Second, we are likely to keep spending on different things, and using different channels, even after restrictions are lifted.
Habits tend to form when behaviour changes consistently. They strengthen over time, and are particularly sticky once behaviour has been consistent for a <a href="http://repositorio.ispa.pt/bitstream/10400.12/3364/1/IJSP_998-1009.pdf" target="_blank">period of months</a> – and we’ve been living with lockdown for that long in Australia.
Once formed, the new habits can persist unless there is another shock.
Australians have become used to doing more of their purchasing online. They have become used to spending more on living comfortably at home, and less on clothes for the office and to go out.
After the shutdown, people are likely to continue to work from home more often.
The habits of shopping remotely, and spending more on home furnishings and less on clothes, are likely to continue, and they would be likely to continue even if COVID-19 vanished tomorrow.
<h2>3. Global recession</h2>
Third, irrespective of COVID-19 regulations and behaviours, we are heading into an “old-fashioned”, <a href="https://www.propertyobserver.com.au/https://openknowledge.worldbank.org/handle/10986/33748" target="_blank">globally synchronised, deep recession</a>.
For the moment, <a href="https://theconversation.com/the-key-to-the-success-of-the-130-billion-wage-subsidy-is-retrospective-paid-work-135042" target="_blank">JobKeeper</a>, the temporarily-boosted <a href="https://theconversation.com/scalable-without-limit-how-the-government-plans-to-get-coronavirus-support-into-our-hands-quickly-134353" target="_blank">JobSeeker</a> payment, and a recent <a href="https://business.nab.com.au/wp-content/uploads/2020/05/NAB-Data-Insights-May-Report.pdf" target="_blank">bounceback</a>, have resulted in <a href="https://www.commbank.com.au/guidance/business/commbank-card-spending-data-shows-modest-lift-202006" target="_blank">spending on credit and debit cards</a> a bit more than this time last year.
But unemployment jumped to <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0">7.1%</a> on Thursday. That official rate understates how bad things are.
In May an extra 227,700 Australians lost their jobs (on top of 607,400 in April).
But only 85,000 of them were counted as unemployed. When and if the bulk of those people look for work, the unemployment rate will climb further.
Employed Australians, total
<a href="https://images.theconversation.com/files/342603/original/file-20200618-41230-ffex5d.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/342603/original/file-20200618-41230-ffex5d.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Includes Australians regarded as still employed because they are on JobKeeper. <a class="source" href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0" target="_blank">ABS 6202.0</a>
After JobKeeper <a href="https://theconversation.com/whatll-happen-when-the-moneys-snatched-back-our-looming-coronavirus-support-cliff-138527" target="_blank">ends in September</a> (or is <a href="https://theconversation.com/how-to-improve-jobkeeper-hint-it-would-help-not-to-pay-businesses-late-140435" target="_blank">phased out</a> as a result of the government’s review) many of the three million people on it will also become counted as unemployed.
Australians who have lost their jobs are likely to spend less than they did before.
After each of the previous two recessions it took <a href="https://grattan.edu.au/news/dont-expect-a-v-shaped-recovery-after-the-pandemic/" target="_blank">years</a> for employment to recover.
<h2>Spending need not recover after COVID</h2>
These three factors – fear, new habits, and recession – are present in countries and regions that seem to be well clear of coronavirus.
Much of China has been free of most government restrictions for months. Manufacturing and infrastructure spending has largely returned to pre-COVID levels.
But consumer activity is still <a href="https://tradingeconomics.com/china/retail-sales-annual" target="_blank">below pre-COVID levels</a>, and it is inching up only slowly.
Australia might well see an “opening party” on the day each particular COVID-19 restriction is lifted.
But after that, the best guess is that consumer spending will remain very subdued and refocused for a long time.
For those in the hardest-hit <a href="https://theconversation.com/which-jobs-are-most-at-risk-from-the-coronavirus-shutdown-134680" target="_blank">sectors</a> and <a href="https://blog.grattan.edu.au/2020/06/the-latest-jobs-data-shows-urban-electorates-are-now-being-hit-hardest-by-covid-19/" target="_blank">regions</a> – particularly arts and recreation, hospitality, and clothing – the pain will continue long after the restrictions are lifted.<img src="https://counter.theconversation.com/content/140628/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/john-daley-1870" target="_blank">John Daley</a>, Chief Executive Officer, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/retail-wont-snap-back-3-reasons-why-covid-has-changed-the-way-we-shop-perhaps-forever-140628" target="_blank">original article</a>.
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Retail won’t snap back. 3 reasons why COVID has changed the way we shop, perhaps forever

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EXPERT OBSERVER
Anyone who has been paying attention will know that there are plenty of solid to strong property markets around Australia.
The collapse in prices that attention-seeking economists forecast in March and regularly since then simply hasn’t happened. Of the 15 major market jurisdictions in Australia (eight capital cities and seven state regional markets), 11 have house prices higher than at the start of the year.
First-home buyers, boosted by government assistance, are very busy and other types of owner-occupiers are active also. Investors are starting to get off the fence and follow the trends that are pointing to growth in key areas.
So where are those prime targets, which currently have the ingredients for growth? I recently explored that subject with buyers’ agent Philip Robison as a guest on his podcast series. Under the topic heading of “Game-changing trends supercharging markets,” we discussed the key trends currently driving markets:
1. The cities with the virus under control have higher confidence, more activity, lower vacancies and busier markets.
2. The Exodus to Affordable Lifestyle, well under way before the pandemic, has been exacerbated by the virus shutdown periods.
3. First-home buyers are the most active cohort in the market at present, driven by high levels of govt assistance and low interest rates.
4. Vacancies are very low in many markets, which means rising rents - and history shows that prices tend to follow.
So which locations are positively impacted by these key trends?
1. Adelaide, Perth, Brisbane, Darwin, Canberra and Hobart all have few pandemic issues and they have busy property markets. Adelaide has one of the most competitive markets in the nation, Perth has been a huge increase in sales activity in recent months, Brisbane markets are rising steadily and Canberra is a standout because it has delivered price growth every month since March.
2. The Exodus to Affordable Lifestyle is mostly about regional Australia: the rising jurisdictions include regional Victoria near Melbourne, Regional NSW near Sydney and Regional Qld near Brisbane. Brisbane itself is also getting momentum from the Exodus trend, particularly from people vacating Sydney and looking for a city less congested and more affordable.
3. First-home buyers are busy in the outer-ring suburbs of most capital cities, but particularly in places like Brisbane, Perth and Adelaide. They’re also targeting regional cities and towns, especially those within striking distance of the big cities - so Regional Victoria near Melbourne, Regional NSW near Sydney, Regional Qld near Brisbane.
4. Vacancies are particularly low in Adelaide, Perth, Brisbane, Darwin, Canberra and Hobart, and in most key regional markets across Australia. It’s not uncommon to find locations where vacancies are below 1%. Agencies across the country are crying out for rental listings.
So, where does that point us? Well, some locations are being boosted by all of those four trends.
Therefore, the locations benefiting most from all of these dominant trends are ...
<ul>
<li>Adelaide,</li>
<li>Brisbane,</li>
<li>Regional Victoria near Melbourne,</li>
<li>Regional NSW near Sydney,</li>
<li>Regional Qld near Brisbane.</li>
</ul>
They’re not the only markets that are pumping strongly, but they are the standouts.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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