It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Joel Robinson

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Spacious Group completes Voyage Altona in Altona's beachside precinct

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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Dexus and Singapore sovereign wealth fund Government Investment Corporation are paying Kuwait’s St Martins Property $644 million for a half share of the Rialto Melbourne complex in a new joint venture (JV).
The incoming owners will co-control 525 Collins Street with Grollo Group, which is directed by Lorenz Grollo, son of owner, Rino.GIC
Dexus will hold a 10% share in the venture and they will be the investment manager of the JV and have been appointed as the manager of the entire Rialto Towers complex.
Dexus CEO, Darren Steinberg said, “We are pleased to continue to grow our relationship with GIC, enabling them to extend their investments into the Australian office market. In the current environment, we are focused on business continuity, and pleasingly were able to close this off-market transaction within our targeted timeframes.”
Rialto Towers is a prime-grade, 55 storey building, and is one of the largest office buildings located in Melbourne’s Central Business District.
It is well located on Collins Street with good access to transport and other key amenities.
The property is 91.7% occupied with a weighted average lease expiry of 4.6 years as at 1 March 2020. 
 
 
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j.ballantyne1990-6AQqhLzZaK

Dexus and GIC acquire 50% of the Rialto Towers office complex

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Australians are among the most mobile populations in the world. More than 40% of us change address every five years, about twice the global average. Yet the level of internal migration – moving within Australia – has gone down over the past four decades.
The proportion of Australians changing state of residence <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0%7E2016%7EMain%20Features%7EPopulation%20Shift:%20Understanding%20Internal%20Migration%20in%20Australia%7E69" target="_blank">fell by 20%</a> between 1981 and 2016, particularly after 1991. Their movement between regions within states – between, say, Brisbane and Mackay – <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/2071.0%7E2016%7EMain%20Features%7EPopulation%20Shift:%20Understanding%20Internal%20Migration%20in%20Australia%7E69" target="_blank">dropped by a whopping 25%</a>.
<a href="https://images.theconversation.com/files/323130/original/file-20200326-168918-jmxrg6.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here</a> to enlarge:
<a href="https://images.theconversation.com/files/323130/original/file-20200326-168918-jmxrg6.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/323130/original/file-20200326-168918-jmxrg6.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Data: ABS Census of Population and Housing, 1981-2016, Author provided
The decline in migration is a feature of a number of <a href="https://www.propertyobserver.com.au/https://www.routledge.com/Internal-Migration-in-the-Developed-World-Are-we-becoming-less-mobile/Champion-Cooke-Shuttleworth/p/book/9781472478061" target="_blank">advanced economies</a>, including the United States. Policymakers have been concerned this trend heralds a less flexible economy where workers do not move to regions with jobs. If that’s the case, it could prolong recessions and reduce growth.
So why are Australians moving less? Several factors might help explain it.
<h2>Australia is getting older</h2>
Population ageing is one of the main explanations because older people move less than young people. It’s enough to account for 20-30% of the decline in internal migration in Australia.
However, the increase in the share of mobile groups – such as renters, tertiary-educated people and recently arrived immigrants – has <a href="https://qcpr.files.wordpress.com/2020/03/qcpr_working-paper_kalemba-et-al-2020.pdf" target="_blank">fully compensated</a> the downward effect of population ageing. This means the net effect on migration levels of changes in the composition of the Australian population is close to null.
So the decline is not the result of overall changes in population composition. It is the result of deeper behavioural changes. People in their 20s, 30s and 40s are simply moving less today than in the past.
<h2>Working arrangements have changed</h2>
Information and communication technology and the changes in working arrangements brought by the internet are often thought to have contributed to lower migration levels. But, the proportion of individuals who telework remains small. <a href="https://www.researchgate.net/profile/Aude_Bernard/publication/339899498_Decline_in_internal_migration_levels_in_Australia_Compositional_or_behavioural_effect/links/5e6b3077a6fdccf321d93834/Decline-in-internal-migration-levels-in-Australia-Compositional-or-behavioural-effect.pdf" target="_blank">Only 5%</a> of the Australian workforce worked from home at the 2016 census.
Perhaps more significant is the increase in dual-income households. They now account for two-thirds of couples compared with 56% in 2001. Because these couples find it more challenging to jointly relocate than traditional male-breadwinner families, this shift <a href="https://qcpr.files.wordpress.com/2020/03/qcpr_working-paper_kalemba-et-al-2020.pdf" target="_blank">explains about 10%</a> of the decline in interstate migration in Australia.
Despite these transformations, the mix of reasons for moving hasn’t changed over the past 15 years. Australians still move mainly for family and work reasons.
So, what is going on?
<a href="https://images.theconversation.com/files/323142/original/file-20200326-168889-xy3fj2.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here</a> to enlarge:
<a href="https://images.theconversation.com/files/323142/original/file-20200326-168889-xy3fj2.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/323142/original/file-20200326-168889-xy3fj2.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Authors’ calculations using Household, Income and Labour Dynamics in Australia (HILDA) Survey data, Author provided
<h2>Place attachment plays a part</h2>
In the United States, this downward trend has been linked to “<a href="https://onlinelibrary.wiley.com/doi/full/10.1002/psp.670" target="_blank">rootedness</a>”, the idea that individuals have become more attached their families and communities and are therefore less inclined to relocate.
Such concepts are difficult to measure and quantify. Yet a <a href="https://onlinelibrary.wiley.com/doi/full/10.1002/psp.2225" target="_blank">2019 study</a> showed that Australians with strong place attachment and social networks are less likely to migrate, particularly over long distances. But it is not clear how place attachment has changed over time and whether it has contributed to the decline in internal migration.
<h2>Young people are staying put</h2>
We know young people are moving less than they used to. In 2017, <a href="https://theconversation.com/over-50-of-young-australian-adults-still-live-with-their-parents-and-the-numbers-are-climbing-faster-for-women-120587" target="_blank">56% of Australians below the age of 30</a> were still living at home compared with 47% in 2001. Explanations for this trend include increasing housing costs and delayed union formation.
The consequences not only bring down current migration levels but also in the future. This is because <a href="https://onlinelibrary.wiley.com/doi/full/10.1002/psp.2286" target="_blank">migration is self-reinforcing</a>: having moved in the past increases the chances of moving again. So, young adults who are staying put now are less likely to move later because they have not been exposed early in life to the challenges of relocating.
This means the level of migration in Australia is likely to remain low, but this downward trend may level off as we have seen in the <a href="https://www.sciencedirect.com/science/article/pii/S0378437119316875" target="_blank">United States</a>.
<h2>Is this new low a problem?</h2>
There is no evidence Australians are less willing to relocate for their jobs, so this downward trend should not have major impacts on the economy.
What is more concerning is <a href="https://qcpr.files.wordpress.com/2020/03/qcpr_working-paper_kalemba-et-al-2020.pdf" target="_blank">some groups have been affected</a> more than others, particularly those in part-time work and in low-paid sectors such as retail and trade. These workers are less mobile than in the past and their share in the workforce has increased.
Individuals with limited resources face <a href="https://www.propertyobserver.com.au/https://digital.lib.washington.edu/researchworks/handle/1773/38220" target="_blank">greater difficulties</a> in being mobile, particularly when faced with rising housing costs and stagnant wages. We need to ensure Australia does not evolve toward a two-tier migration system, in which some can afford to move and others are “trapped”. This could, in the long term, reinforce socio-economic inequalities.<img src="https://counter.theconversation.com/content/133767/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/aude-bernard-316886" target="_blank">Aude Bernard</a>, Lecturer, Queensland Centre for Population Research, <a href="https://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</a> and <a href="https://theconversation.com/profiles/sunganani-v-kalemba-997197" target="_blank">Sunganani V. Kalemba</a>, PhD candidate, <a href="https://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</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/australians-are-moving-home-less-why-and-does-it-matter-133767" target="_blank">original article</a>.
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Australians are moving home less. Why? And does it matter?

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EXPERT OBSERVER
COVID-19 is, without a doubt, a disruption and game-changer at the same time. There are many uncertainties at present, and quite a few “doom and gloom” stories on a collapsing economy and being on the brink of a recession. There is no denying that many Australian small businesses and individuals are experiencing the brunt of it, from loss of income to having to close their businesses.
Fiscal policy, in the form of stimulus, is critical at this point, as it allows for the society to access immediate funds. Monetary policy can assist, however given that there are no legal requirements in Australia for banks to follow, plus the notion of interest capitalisation (which will cost those with loans more later on), it is a band-aid solution at best. The Australian Government has rapidly introduced a number of financial stimulus packages, targeting those who will be impacted the most.
COVID-19 is a world-wide phenomenon. The measures taken to contain the virus, as well as assistance to prop up the economy, differs from nation to nation. An analysis of the G20 countries, plus Iran, have revealed that at present Australia’s fiscal policy puts us in a strong place to ride out COVID-19.
<img class="richtext-image full-width" src="https://www.prd.com.au/media/images/PRD_Research_-_Table_1_-_Developed_Counties_Co.width-800_peM6O8C.png" alt="Fiscal Apr 2020 Table 1 - Developed Counties Covid-19" width="800" height="316">
1. Against other developed countries, Australia’s stimulus package as a % of 2019 GDP (14.4%) is on the higher end, above United States and Canada, and significantly higher than our neighbours New Zealand.
2. From a Stimulus per Capita perspective Australia is in a strong position, whereby our per capita stimulus is only second to Germany. We are well ahead.
3. Factoring in the number of jobs lost and stimulus package as a % of 2019 GDP, Australia has a strong ability to provide financial assistance, and in some instances more favourably. 
<h4>How does Australia compare to other G20 countries regarding the loss of unemployment/support for loss of income? (note: all monetary amounts are in the native country’s currency)</h4>
Currently Australians who have lost their employment or have lost partial income can access a number of government fiscal assistance, providing they can satisfy all of the requirements both on a personal and business level. These payments include (but not limited to): JobKeeper Payment ($1,500/fortnight), JobSeeker Payment ($550/fortnight), and Coronavirus Supplement ($550/fortnight). How does this compare with other countries?
United States of America - $1,200 government cash check for all residents. Individuals individuals who earn $75,000 in adjusted gross income or less would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400 -- and an additional $500 per child. The payment would scale down by income, phasing out entirely at $99,000 for singles and $198,000 for couples without children.
<ul>
<li>
United Kingdom - The government would give grants to cover 80% of a worker's salary of up to 2,500 pounds a month if businesses kept them on as staff.</li>
<li>
Turkey – Relief for pensioners, with an increase in retirement salary to Turkey Lira 1,500</li>
<li>
South Korea - During the period of business absence, 70% of the average wage must be compensated. The employees are subject to the provision of ‘allowances’ under the Labor Standards Act</li>
<li>
South Africa – South African Rand 500 a month until July as part of COVID-19 measures</li>
<li>
New Zealand - Wage subsidies &amp; leave payments to employers, however, there is yet an announcement for extra unemployment benefits</li>
<li>
France - Under the "partial unemployment" scheme, employees should apply for state benefits which provides them an allowance and that employers are banned from firing them.</li>
<li>
Germany - Claim “Kurzarbeitergeld” scheme benefits or “short-work money" for temporarily laid-off workers</li>
<li>
Indonesia - Social safety net programs to help about 70 million underprivileged citizens</li>
<li>
China, India, Canada, Italy, Iran, Japan, Mexico - Claim regular employment insurance and/or unemployment benefits</li>
<li>
Argentina - Pandemic Unemployment Support for laid-off and self-employed workers, and Job Seekers' Benefit for already unemployed individuals</li>
<li>
Brazil, Iran, Saudi Arabia – Unable to find precise information at this time, although some news websites have indicated that government assistance is currently being planned</li>
</ul>
It is not surprising that developed countries within the G20 have a more comprehensive and structured financial stimulus policy compared to developing nations. South Korea seems to lead the developing nations in their response to the loss of employment due to COVID-19.
Australia presents a comparable financial stimulus package to other developed nations, and in some cases more advanced. It is extremely substantial compared to developing countries.
<h4>Key Message</h4>
The world as we know it currently does not exist – it is in a pause. COVID-19 and the hard-hitting economic impact it brings is not exclusive to Australia, and nor are business closures and job/income losses. It is a tough time for many across the globe. To date Australia has suffered a loss of 750,557 jobs – which is extremely significant, especially in such a short period of time. Other countries, as per known data, have also suffered job losses, some to the extremes of over 1 million people in Germany and over 38 million people in India. 
At this crucial time, perspective is everything. On a micro / inward within Australia scale we may feel that the government’s fiscal policy, in the form of economic stimulus, is imperfect. In fact, ALL government policies are imperfect, as it is designed to be efficient (maximum result with minimum resources) and effective (maximum results with a minimum amount of time) at the same time. If we choose to look on a macro / worldwide comparison however, we can see that Australia’s fiscal policy is substantial and puts us in a strong position to ride out COVID-19. 
<img class="richtext-image full-width" src="https://www.prd.com.au/media/images/PRD_Research_-_Table_2_-_G20_Countries_Covid19.width-800_2jcCZ6n.png" alt="Fiscal Apr 2020 Table 2 - G20 Countries Covid19" width="800" height="410">
Dr DIASWATI MARDIASMO is the Chief Economist at PRD Real Estate 
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Fiscal policy is in place for Australia to ride out Covid-19: PRD

<html><body>Despite spending more than $320 billion in response to COVID-19, experts say even more money will be needed from the government, according to the latest Finder survey. Results from the <a href="https://www.finder.com.au/rba-cash-rate" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Finder RBA Cash Rate Survey™</a> this week, show that experts and economists are unconvinced that the federal government’s stimulus packages will be sufficient to see the country through to the end of the year. Three-quarters (73%, 16) of respondents said they expect another stimulus package will be needed.  A similar number (75%, 15) who weighed in on the Australian shares market, expect it to fall further this year. Graham Cooke, insights manager at Finder, said as hard as it is to believe, 16.4% of the country’s nearly $2 trillion GDP may still not be enough. “If the aim is to build a bridge to the other side of this crisis, there might still be some materials that need to be purchased. “On top of trying to close the gap, this pandemic has created, the near-40% loss in value of Australia’s share market may not be over just yet.  “With the full effects of coronavirus still to be understood, expect the high volatility we have seen in the shares market of late to continue for months.” Cash rate to stay put, but QE on cards All 23 economists and experts surveyed expect the Reserve Bank of Australia (RBA) to hold the cash rate at 0.25% on Tuesday. “Most economists highlighted that the RBA will treat 0.25% as if it is 0% and have no appetite to cut further.  “This leaves only one effective tool in the RBA’s armoury: quantitative easing,” Cooke said. Quantitative easing (QE) is a process where the central bank creates new cash to decrease, or ease, the cost of borrowing. In Finder’s December 2019 survey, nearly half (46%) of experts predicted it was likely we’d see QE in 2020, well before there was any concern of a global pandemic or a lockdown.  RBA governor Phillip Lowe insisted at the time that the federal bank had “no appetite” for QE. Shane Oliver of AMP Capital said history has shown the folly of going to negative interest rates in other countries. "0.25% has long been identified by the RBA as the lower bound.  “There is little benefit to be gained by going to zero or negative based on the experience of Europe and Japan," Oliver said. Economic Sentiment Tracker  Results from Finder’s Economic Sentiment Tracker, which gauges five key indicators – housing affordability, employment, wage growth, cost of living and household debt – dropped to new lows across most metrics. Cooke said negative sentiment on household debt, wage growth and employment are at 62%, 86% and 100%, respectively. “The sentiment on employment is our first-ever 100% negative response on any economic metric. The COVID-19 pandemic has taken a sledgehammer to the economy, and there is no end in sight,” he said <img src="https://lh5.googleusercontent.com/EkKquNOhes7Tm1rEIH4TFfqG7gKfRn233LzWKxxaIRJXA-ImJe6d6KF7EGwabJCLcn9OQG0GrB6ASTYvrYvnrKH7SF_TFwrgf2jpizHNlXOWHmWnd8FAExFiYndLN7H4_8L6Hjao" width="602" height="387" data-imagetype="External"> Cooke said there was one result that portends good news for homebuyers. “The social gathering restrictions have had a large positive effect on housing affordability. “With estate agents obliged to take viewings by appointment only, and auctions forced online, downward pressure on the housing market is inevitable.  “With both fixed and variable rates at record lows, anyone who has a deposit saved up right now could be in a very powerful position.” The rise in positivity around housing affordability – at its highest level since last June – has pulled the average of positivity across all five metrics higher than last month. “Before the pandemic hit, the worry was that housing prices were continuing to rise even as wages, household debt and cost of living didn’t improve.  “Now, after a global business disruption unrivalled in recent history, the cost of housing might just come back into sight for some Aussies looking to buy,” Cooke said. <img src="https://lh5.googleusercontent.com/QYdBAIcGt_SVYh6Bc-ixcBeeNpaIlPnjBzGbuvmBOPXlXRoqJhZtwY_hbG5PBkmVpSky4kpLBbnJEbAqPxSadD0IAD8NxBxouhp8y2nKXur0bWsqP0MeOfsyrhSGxmARElDpIcEC" width="602" height="399" data-imagetype="External"> <img src="https://lh3.googleusercontent.com/Nn1XHJFGWvNg2nZlmyxjukWBdAKyluQlFllWabQWb53kZ2ib9gOy0ZQEkRVYuil9Rlxr-bc6WCU2Um_hRp722YTcHoEBzec_PXZ61XbJqfH5H9zGd6PM8QWlJBOzRMsCsEkNizs7" width="602" height="404" data-imagetype="External"></body></html>

Experts forecast more economic stimulus and ASX falls: Finder.com.au

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GUEST OBSERVATION
“People of the same trade seldom meet together, even for merriment and diversion,” wrote Adam Smith in The Wealth of Nations (published in 1776), “but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
With the coronavirus crisis, though, Australia’s competition watchdog has decided a little more conversation is in the public interest.
The Australian Competition and Consumer Commission is lightening up on its normal competition rules by giving interim authorisation for competitors to cooperate.
On Wednesday the regulator <a href="https://www.accc.gov.au/media-release/nbn-co-telcos-to-coordinate-on-demand-surge-and-consumer-support-package" target="_blank">authorised the NBN Co</a> and the five biggest telcos (Telstra, Optus, Vodafone Hutchison, TPG and Vocus) to “work together to take measures necessary to keep Australia’s telecommunications networks operating effectively”.
On Tuesday it <a href="https://www.accc.gov.au/media-release/medicine-wholesalers-to-co-operate-on-access-to-pharmaceutical-products" target="_blank">authorised wholesalers of medicines</a> “to co-operate to facilitate distribution of essential medication and pharmacy products.
On Monday it <a href="https://www.accc.gov.au/media-release/banks-authorised-to-co-operate-on-loan-relief-and-services" target="_blank">authorised banks</a> "to co-operate to provide supplementary relief packages for individuals and businesses”.
And last week it <a href="https://www.accc.gov.au/system/files/public-registers/documents/Interim%20Authorisation%20Decision%20-%2023.03.20%20-%20PR%20-%20AA1000477%20Coles%20%26%20Ors.pdf" target="_blank">authorised the major supermarket</a> chains (Woolworths, Coles, Aldi and IGA/Metcash) to coordinate their activities to ensure the supply of retail products, particularly those in short supply.
What is cartel conduct
Normally a competition watchdog guards against any collaboration or collusion between competitors. There are hefty fines and even criminal penalties to deter competitors talking to each other.
<a href="https://www.accc.gov.au/business/anti-competitive-behaviour/cartels">Cartel conduct</a> – agreements to fix prices, share markets, rid bids or control the amount of goods and services available to buyers – is arguably the biggest threat to a well-functioning competitive market.
Rather than competing on product quality, price and service, cartels maximise profits by agreeing to charge consumers more, pay suppliers less and putting the squeeze on other competitors. Competition officials have described cartels as “<a href="https://ec.europa.eu/commission/presscorner/detail/en/SPEECH_00_295" target="_blank">cancers on the open market economy</a>”.
But these are not normal times. The normal behaviour that allows markets to function has been thrown into flux. Panic buying of toilet paper, hand sanitiser, pasta and other staples has led to significant supply shortages. Video conferencing and streaming has led to a surge in broadband data use.
In these “unprecedented circumstances”, the watchdog has decided the benefits of permitting competitors to cooperate to secure the supply of essentials goods outweigh the risks.
Different times, different conditions
History shows cartel conduct is tempting to companies in hard economic times. In fact, it’s even tempting to regulators.
<img src="https://images.theconversation.com/files/325142/original/file-20200403-74889-r5xbsg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
 A 1933 US Postage stamp commemorating the National Recovery Administration established under National Industrial Recovery Act. <a class="source" href="https://en.wikipedia.org/wiki/File:New_Deal_N.R.A._3c_1933_issue_U.S._stamp.jpg" target="_blank">Wikimedia</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
In 1933 the United States legalised cartel conduct with the National Industrial Recovery Act. The intention was to assist recovery from the Great Depression. Agreements to restrict output and fix prices were seen as a short-term solution to keep businesses afloat. It has since been argued the US law <a href="https://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?article=1016&amp;context=yjreg" target="_blank">actually slowed the recovery</a> by converting “otherwise competitive industries into highly regulated, cartelised, and often inefficient industries”.
The US government’s mistake is not one the Australian Competition and Consumer Commission is making.
Its interim authorisations allow officials from the regulator and the federal government to monitor discussions. Every arrangement must be approved by the regulator. Everything is “out in the open”, eliminating a key feature for any cartel arrangement to succeed – secrecy.
Conditions now are also very different to those in 1930s America.
Then the issue was over-supply. Now it’s mostly a problem of undersupply, due to demand surges.
This is not a situation in which supermarkets, pharmaceutical companies and broadband providers have anything to gain through restricting supply.
They might have an interest in increasing prices. But the competition watchdog has expressly forbidden talk about retail prices.
A tight leash needed
European regulators are taking a similar approach to Australia. The European Commission <a href="https://ec.europa.eu/competition/ecn/202003_joint-statement_ecn_corona-crisis.pdf" target="_blank">has declared</a> it will not actively intervene against “necessary and temporary measures” to avoid supply shortage:
“Considering the current circumstances, such measures are unlikely to be problematic, since they would either not amount to a restriction of competition […] or generate efficiencies that would most likely outweigh any such restriction.”
Even so, there are risks. There are anti-cartel laws for good reason. The longer competitors spend working together, as Adam Smith noted, the greater the risk of conspiracy.
The competition watchdog will need to keep talks on a tight leash. Apart from price, it needs to ensure companies do not share information about operations and processes that would allow them to act independently in a mutually beneficial manner. This would give us exactly what cartel laws are meant to stop – higher prices.
Australia’s competition watchdog is arguably better equipped for this task than its European counterparts. But with more industry requests for competitors to cooperate likely, it will need to stay vigilant, making full use of its powers to monitor talks and ensure cooperation only goes on for as much, and as long, as absolutely necessary.<img src="https://counter.theconversation.com/content/135303/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/sven-gallasch-1014219" target="_blank">Sven Gallasch</a>, Lecturer in Law, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</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/look-whos-talking-australias-telcos-banks-and-supermarkets-granted-exemption-to-cartel-laws-135303" target="_blank">original article</a>.
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Look who's talking: Australia's telcos, banks and supermarkets granted exemption to cartel laws

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EXPERT OBSERVER
Events have been moving quickly in the Australian economy.
With the announcement of the Australian Government’s latest JobKeeper Payment (JKP) policy and further tightening of social distancing guidelines we have reviewed our employment, GDP, and Budget deficit forecasts.
Key forecasts had been: a peak in the unemployment rate of 11.1% in the June quarter; a GDP contraction of 3.5% in the June quarter; and the likely issuance of an additional $250bn in Australian government bonds over 2019/20 and 2020/21.
In reviewing those forecasts we have maintained the approach of assessing employment and output across industry sectors to arrive at a more granular estimate of the impact of the various government policies on the Australian economy.
We also maintain our core view that while the intensity of the policies to address the virus will peak near the end of the June quarter, most policies will be maintained through the September quarter and the recovery will be delayed until the December quarter. Conditions in the global economy will remain very weak until well into the December quarter.
With the shutdowns and social distancing policies being tightened we now expect a much more severe impact on the output of most industries.
As expected, the most seriously affected industries are likely to be: retail; accommodation; restaurants; transport; recreation; and real estate. However we also expect negative impacts for other industries including manufacturing; construction; and distribution. Other industries such as health, government, and telecommunications will see a lift in employment and output.
We expect GDP will now contract by 8.5% in the June quarter; to be followed by a 0.6% contraction in the September quarter; and a 5.2% lift in the December quarter.
Overall, the economy is expected to contract by 5% through the 2020 year.
BILL EVANS is the <a href="https://westpaciq.westpac.com.au/Article/42804/16785/" target="_blank">Chief Economist at Westpac</a>
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bevans-rYk9SxEa4r

JobKeepers payment to reduce peak unemployment rate from 17% to 9%: Westpac's Bill Evans

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EXPERT OBSERVER
Job vacancies had barely begin their decline by the end of February, holding up at about 227,000.
Vacancies were lower than a year earlier due to the bushfires, but not by much.
Click <a href="https://1.bp.blogspot.com/-KNa301clF_4/XoVRp1y5JiI/AAAAAAAA1DM/Oc-nvFUNd0Yj1oiu6d41CR0KXGHCg2XbQCNcBGAsYHQ/s640/A1.jpg" target="_blank">here</a> to enlarge.
<img src="https://1.bp.blogspot.com/-KNa301clF_4/XoVRp1y5JiI/AAAAAAAA1DM/Oc-nvFUNd0Yj1oiu6d41CR0KXGHCg2XbQCNcBGAsYHQ/s640/A1.jpg" width="640" height="384" style="font-size: 12.16px;" data-original-height="816" data-original-width="1359">
<div class="separator"> </div>
<div>There were about 700,000 unemployed persons at the end of the last month, so there never was any tight labour market in this cycle. </div>
<div> </div>
<div>We simply never got low or tight enough to see stronger wages growth. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-D28blnXsgiw/XoVRp2NX0DI/AAAAAAAA1DI/e6kSJ5tag6QHcqB-Cc5JlpCHJ-5qPwktwCNcBGAsYHQ/s640/A3.jpg" width="640" height="376" data-original-height="824" data-original-width="1398"></div>
And full employment has remained elusive throughout the full cycle.
Click <a href="https://1.bp.blogspot.com/-d5OcMFYxtOs/XoVRprnURdI/AAAAAAAA1DE/VuLDAE0OyWoQ8tVThGIyatv2iax8ATpiACNcBGAsYHQ/s640/A2.jpg" target="_blank">here</a> to enlarge.
<div class="separator"><img src="https://1.bp.blogspot.com/-d5OcMFYxtOs/XoVRprnURdI/AAAAAAAA1DE/VuLDAE0OyWoQ8tVThGIyatv2iax8ATpiACNcBGAsYHQ/s640/A2.jpg" width="640" height="370" data-original-height="814" data-original-width="1408"></div>
<div class="separator"> </div>
<div>Looking at the most timely available data from private data sets on job vacancies and other reads, it seems likely that unemployment is probably heading to about 10 per cent, although the situation is very fluid right now. </div>
<div> </div>
<div>At the state level, the resources states were tracking a bit better, as Sydney and Melbourne have moved beyond their respective peaks. </div>
<div> </div>
<div>Click here to enlarge.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/--rUsZxjmY2U/XoVRq0743RI/AAAAAAAA1DQ/0A7rMqDZHeM1ShxtFwsnDL6Px5T_8HbygCNcBGAsYHQ/s640/A4.jpg" target="_blank"><img src="https://1.bp.blogspot.com/--rUsZxjmY2U/XoVRq0743RI/AAAAAAAA1DQ/0A7rMqDZHeM1ShxtFwsnDL6Px5T_8HbygCNcBGAsYHQ/s640/A4.jpg" width="640" height="370" data-original-height="811" data-original-width="1400"></a></div>
Challenging times ahead.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
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pwargent-M4siyDbqQY

Job vacancies are getting set for a plunge: Pete Wargent

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GUEST OBSERVATION
You’ve lost income because of the coronavirus crisis and finding it hard to pay the bills. What if you can’t pay your rent? 
The short answer, if you live in Australia, is that rules changes give you more time – at least six months – before you face eviction.
But that’s all. Nothing else has changed. As <a href="https://www.theguardian.com/australia-news/live/2020/apr/03/coronavirus-update-live-news-australia-queensland-victoria-nsw-qld-tas-act-sa-wa-nt-covid19-latest-updates?page=with:block-5e86b5d58f0866297e9f624a" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif;">Prime Minister Scott Morrison has said</a>, the moratorium on evictions “doesn’t mean there’s a moratorium on rents”.
Whatever rent you don’t pay you will still owe, with consequences eventually.
There’s unlikely to be any other national assistance for residential tenants along the lines the commercial tenancy market <a href="https://www.pm.gov.au/media/update-coronavirus-measures-030420" target="_blank">might get</a>.
But there may be other assistance on offer according to your state and territory. In Queensland, for example, you may be eligible for a one-off rental payment.
So this is how your options stand.
Eviction moratorium
The National Cabinet – incorporating the federal cabinet and state and territory leaders – announced the eviction moratorium <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-03/eight-million-tenants-wait-to-learn-coronavirus-rent-bill/12114082" target="_blank">on March 29</a>. Rental law is a state and territory matter, so legal enforcement depends on these governments enacting legislation.
Tasmania was the first <a href="https://www.cbos.tas.gov.au/topics/housing/residential-tenancies-covid-19-emergency-provisions" target="_blank">to do so</a>, pre-empting the National Cabinet decision with a four-month ban on evictions. It’s likely a good indication of what other states and territories will do.
The Tasmanian legislation prohibits commercial and residential landlords from serving notice to vacate for rent arrears for the duration of the “emergency period”, unless:
<ul>
<li>
the lease is non-fixed term and property is being sold (with notice being served before April 3)
</li>
<li>
the Residential Tenancy Commissioner orders termination because of “severe hardship” to either party.
</li>
</ul>
Severe hardship is an established part of tenancy law. It allows parties to apply for a fixed-term lease to be terminated without penalty. It is possible a landlord could argue financial hardship based on needing rent to cover their own debts, but commissioners (or tribunals in other jurisdictions) are likely to scrutinise such applications closely.
(Severe hardship is discussed further below, under “What if I want to break the lease?”).
What if I don’t pay my rent?
If you don’t pay your rent, your debt will keep accruing. Once the moratorium ends, you face eviction.
Your landlord will have the right to keep your bond to cover the rent. If you owe more, they can chase it up through debt collectors or file court proceedings. If this happens, your personal <a href="https://www.canstar.com.au/credit-score/what-is-a-credit-rating/" target="_blank">credit rating</a> could take a hit, and costs may be added to any judgment against you.
So take the Prime Minister’s <a href="https://www.afr.com/property/commercial/office-tenants-inundate-landlords-with-rent-relief-requests-20200330-p54fe6" target="_blank">advice</a>: negotiate with your landlord or agent.
Try to work out an arrangement both sides can live with. Remember, many private landlords rely on rent to pay the mortgage. Even with the <a href="https://www.ausbanking.org.au/covid-19-relief-faqs/" target="_blank">major banks offering mortgage relief</a> during coronavirus crisis, the interest on that debt will keep accruing.
Can I get any rent assistance?
There are generally no special provisions for rent assistance during the coronavirus crisis.
So far only <a href="https://www.qld.gov.au/housing/renting/rent-assistance/bond-loan/covid19-rental-grant" target="_blank">Queensland</a> is offering any form of special rental assistance – a one-off payment of up to $2,000, paid directly to your lessor. To be eligible, you must have lost your job due to the pandemic and have applied to Centrelink for income support.
In other states the usual rules for <a href="https://www.servicesaustralia.gov.au/individuals/services/centrelink/rent-assistance" target="_blank">rent assistance</a> apply. You need to first qualify for Centrelink income support, such as the JobSeeker payment, Youth Allowance or the Parenting Payment. Centrelink provides up to A$139 a fortnight if you’re single, and A$164 for a couple with two children.
What about a rent reduction?
As mentioned, there’s no sign there’ll be direct subsidies for residential tenants, though there may be a national package to reduce commercial rents.
The closest thing so far announced is the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-04-02/act-government-covid19-coronavirus-spending-package-announced/12114504" target="_blank">Australian Capital Territory’s</a> encouragement to residential landlords to lower rents by at least 25% through direct tax relief equal to half the discount (up about $100 a week). The scheme is voluntary, so it remains to be seen how effective it will be.
What if I want to break the lease?
If you’re not on a fixed-term lease, but a monthly or weekly tenancy, you simply have to give the required notice to the landlord (usually 21 days).
If you’re on fixed-term lease, state and territory laws allow both tenants and owners to apply to break the lease without penalty if its continuation causes “severe hardship”.
But this option “should be seen as a last resort,” <a href="https://www.cbos.tas.gov.au/topics/housing/residential-tenancies-covid-19-emergency-provisions" target="_blank">advises</a> the Tasmanian government. “It is best to maintain a positive relationship between owners and tenants. The best way to do this is for owners and tenants to discuss their concerns.”
It is possible your lease may contain a force majeure clause providing for suspension or termination when unforeseeable events (for which neither party is responsible) occur. Unfortunately, such clauses are extremely rare in leases, and unlikely to cover pandemics.
Is there anything else to consider?
If you consistently miss rent payments you risk going on a “black list” – a privately owned tenancy database that real estate agents use to screen tenants. A track record of missing payments can mean a black mark on a future rental application.
So the bottom line: talk with your landlord.<img src="https://counter.theconversation.com/content/135312/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/mark-giancaspro-182268" target="_blank">Mark Giancaspro</a>, Lecturer in Law, <a href="https://theconversation.com/institutions/university-of-adelaide-1119" target="_blank">University of Adelaide</a> and <a href="https://theconversation.com/profiles/david-brown-103001" target="_blank">David Brown</a>, Co-Director, Bankruptcy and Insolvency Scholarship Unit, <a href="https://theconversation.com/institutions/university-of-adelaide-1119" target="_blank">University of Adelaide</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/what-if-i-cant-pay-my-rent-these-are-the-options-for-rent-relief-in-australia-135312" target="_blank">original article</a>.
Correction: this article has been amended to clarify that consistent non-payment of rent is required to be listed on a residential tenancy database. The article originally suggested any non-payment was a risk. For more advice contact the tenants advice service in your state or territory.
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What to do if you can't pay rent (nothing is not a good option)

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Media, marketing and creative agencies are flocking to North Sydney to take advantage of the newly developed commercial office space.
Colliers International has leased seven suites at 150 Pacific Highway in North Sydney, ranging from 60-100 sqm each.
Companies Pictura Creative, Mobius, Intergrid and FINAO are just some of the tenants that leased the space with rents ranging from $650 to $680 sqm gross per sqm per annum.
“All seven suites were leased within a six-month period highlighting the demand in North Sydney for creative, modern and bright office space,” said Jay Horrell, Executive, Office Leasing at Colliers International.
“In line with the growing importance of staff retention and wellbeing, we are seeing a greater number of tenants seeking creative workspace offering a more appealing environment for staff”
150 Pacific Highway is a brand-new building with onsite end of trip facilities and each suite has floor to ceiling windows, polished concrete flooring and a three metre plus ceiling height.
<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/2020/3/27/3_North%20Sydney%20PH.jpg" alt="">
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Seven suites leased at 150 Pacific Highway

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EXPERT OBSERVER
Australia is teeming with people who have questions about the impact of the virus crisis on real estate and are seeking urgent answers. 
My webinar with buyers’ agent Rich Harvey of propertybuyer on 24 March attracted a big audience – our largest ever - and we received more questions than we could handle during the live event.
Many of those questions including some of the fundamental ones that everyone is asking: will property values decline, how long will it last, is this a good time to buy, what happens if my tenant can’t pay the rent and if I ask my lender for a mortgage holiday, will it affect my credit rating?
Here are some of the key questions or comments, and my responses.
Is now the time to be buying an investment property? Will there be tenants in the market?
I think this is a good time to be looking for an investment property. There will be opportunities to buy well in the current climate. Buyers will be able to negotiate from a position of strength. Just be careful to select a location with the credentials for long-term growth. There will be tenants – vacancies are low around the nation and the various government stimulus packages will assist people who might otherwise struggle to pay their rent.
Auction clearance rates will change now that the first wave of lock-down controls come into effect. Do you predict that the market will continue to be healthy amidst rising unemployment?
Yes, I think the market will continue to be healthy. The rise in unemployment will be temporary – if it was long-term, extending right throughout the year, it would have a material impact on markets and property prices, but I expect it to be relatively short-term. Auctions will be curtailed by the government restrictions on gatherings, but most sales do not occur via auction so that in itself will not be detrimental to property prices. Only 10-11% of sales across Australian happen through auctions. It will cause some vendors who particularly want auctions to withdraw their properties from sale, which will exacerbate the shortage of listings and put a floor under property values.
Do you think vacancy rates will rise in the short term with unemployment increasing?
I think there will be some increase in vacancy rates in the short-term, but mainly because owners who had been using AirBNB rather than permanent rental situations will now be seeking permanent tenants (because of the travel restrictions, which are killing the AirBNB market at the moment). Most markets should be able to absorb this, because vacancy rates are very low in most locations across Australia.
Can you help unpack how a potential 10% unemployment rate cannot have any impact on property prices going forward?
If we had a 10% jobless rate long-term in Australia, it would impact on property prices – but we won’t have that. We will have a short, sharp spike in unemployment but it won’t last long enough to cause a significant fall in house prices.
Will this situation promote longer-term demographic shifts to more people working remotely and strengthen property growth in regional areas?
I think that is a trend anyway and has helped to drive the boom in the past 2-3 years in Regional Victoria, particularly in towns within 1-2 hours of Melbourne, and also the Central Coast just outside Sydney. The current situation will probably enhance that trend towards people working remotely and therefore making lifestyle changes. Increasingly, there are fewer and fewer reasons to be close to the CBDs of major cities. 
Do you have any perspectives on negotiating with developers during this time, especially as first home buyers.
Everything is negotiable at any time but in these turbulent times I suspect buyers will be able to negotiate favourable deals when buying new product from developers. It would be a good time to present yourself as a buyer at a time when many people will be standing back or sitting on the fence.
Over the next few months if you find yourself unable to keep up with your loans, get on the front foot and call the credit provider early.  This will not only relieve some pressure as you won’t be living in fear of what they might do, but it will most likely help to protect your credit file in the process.  If the emotion is too close to home for you to liaise with the credit provider yourself, then engage a professional to do it for you. But check in early with your lenders.
I think that is sound advice. The major lenders have made it clear that they want to help their mortgage customers, as well as businesses, because they have a strong vested interest in keeping their customers healthy. Anyone who is struggling with loan repayments should contact their lenders and work out a solution with them. The major banks are indicating that they will allow people to pause their repayments for a period of time.
What should landlords do if a tenant advises they can’t pay their rent?
I don’t think it’s possible to give a generalised answer to that. It needs to be handled on a case-by-case basis. But a lot of the emphasis in the various stimulus packages is on assisting people in those situations. The benefits for people out of work have been significantly increased to try to avoid situations where people can’t pay their rent. But, for any landlords who fact that situation, work with your tenants, or your property manager, to come up with a solution – perhaps by reducing the rent for a short period.
Should I reduce the rent before the tenants ask?
It may be a good strategy, to pre-empt any problems – perhaps offer a reduction in the rent for a short period to help get through the difficult period. It’s preferable to do that, rather than losing your tenant. I note that some landlords are doing that, according to media reports. But it needs to assessed on a case-by-case basis. 
Should we hold on to our savings and see how low the market will go?
That kind of strategy seldom works. It’s indicates a short-term viewpoint when real estate should be approached with long-term horizons. The other problem with that kind of approach is that it’s impossible to pinpoint the bottom of the market – the data that shows the bottom of the trough doesn’t appear until a long time after the event. A better approach is to look for good buying opportunities in areas with the credentials for long-term growth.
What is your take on people losing their jobs who have a mortgage, will they lose their homes, if so how will they get a rental in such a tight rental market?
One of the key factors in the response from the Federal Government and the major banks is to support people who lose their jobs and have difficulty paying the mortgage. Lenders have said they will offer mortgage holidays – e.g. suspending payments for six months. The tight rental markets are being eased, to a certain extent, by investors who previously used AirBNB now putting their properties into the permanent rental pool (because the travel restrictions are killing the AirBNB market).
My husband is very nervous and wants me to sell our family home.  What’s your advice on selling now. 
No, please don’t do that. There is no need to panic to that degree. We are not going to see property values collapse and anyone who struggles to pay the mortgage during this crisis period should be able to arrange a suspension of their regular payments with their lender. 
If I were to make an opportunistic buy, what’s to say I can rent it out in a timely manner in the current environment?
A sensible investor would, firstly, buy in a location where the vacancy rate is low (and most locations around the nation currently have low vacancies) and, secondly, speak to property managers in the local area about the prospects for renting the property you’re thinking of buying – before signing a contract.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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