For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

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]

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

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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EXPERT OBSERVERS
The COVID-19 coronavirus is spreading across the world - Initially the epicentre was China, however there are now at least four further epicenters: Iran, Italy, Japan and South Korea.
Although the World Health Organisation believes the number of cases in China has peaked and should fall, case reports are climbing from countries previously thought to be resilient due to stronger medical standards and practices.
In a strongly connected and integrated world, the impacts of the disease will go beyond mortality (deaths) and morbidity (people incapacitated or caring for the incapacitated and unable to work).
Companies across the world, irrespective of size, depend on inputs from China – much more so than during the 2002-04 China-centred Severe Acute Respiratory Syndrome (SARS) pandemic.
In 2003 China accounted for less than one twentieth of world trade. It now accounts for one seventh, making it the world’s biggest importer and an integral part of most global production chains.
Just as important to the world economy, panic is distorting spending. Global stock markets have plunged.
Entire cities in China have closed and travel restrictions have been placed on people entering from infected countries.
The fear of an unknown deadly virus is similar in its psychological effects to the reaction to terrorism threats and produces a high level of stress, often with longer-term consequences.
A large number of people feel at-risk at the onset of a pandemic, even if their actual risk of dying is low.
The International Monetary Fund expects COVID-19 to knock 0.4 points off China’s economic growth target of 5.6% and 0.1 points off global growth, an assessment it will continue to update.
On Monday the Organisation for Economic Co-operation and Development sliced 0.8 points off its forecast for China’s growth and 0.5 points off its forecast for Australian growth.
As part of a large research project in the Centre for Excellence in Population Ageing Research (CEPAR) at the Australian National University, we have applied experience gained from evaluating the impact of SARS for the World Health Organisation in 2003 and 2006 to seven scenarios for COVID-19:
The scenarios vary the attack rate (the proportion of the total population contracting the virus), the mortality rate (the proportion of total population who dies), whether epidemic is a one-off (essentially temporary) or recurrs each year (essentially permanent), and whether it spreads globally or is largely confined to China.
We find that in the four scenarios where the epidemic goes global, Australia’s GDP which in the 12 months to December grew just 1.7%, would suffer a hit in the first year of between 2% and 7.9%, most likely sending GDP backwards (a recession).
In all countries the sharp hit to growth would be followed by a gradual recovery.
The results are very sensitive to the assumptions used, including government responses in each country.
In the short term, central banks and treasuries will need to make sure disrupted economies continue to function.
While cutting interest rates is an option, the shock will require a mix of monetary, fiscal and health policy responses. Quarantining affected people and reducing large scale social interaction would be an effective response.
Wide dissemination of good hygiene practices can be a low cost and highly effective response that can also reduce the extent of contagion and keep down the social and economic cost.
The longer-term responses are even more important.
Many governments have been reluctant to invest sufficiently in their health care systems, especially in public systems in less developed countries where many infectious diseases are likely to originate.
The idea that any country can be an island in an integrated global economy is being proved wrong.
Poverty kills people. However, the outbreak of COVID-19 shows that diseases, potentially generated in poor countries due to overcrowding, poor public health and interaction with wild animals, can kill people of any socioeconomic group in any country.
There needs to be vastly more investment in public health and development in the richest but also, and especially, in the poorest countries.
Our study suggests big economic costs in countries such as Australia can be avoided through global cooperative investment in public health in all countries.
We have known this for decades, yet politicians continue to ignore the scientific and economic evidence about the role of global public health in improving the quality of life and driving economic growth for us all.
 
Warwick McKibbin is a Chair in Public Policy in the ANU Centre for Applied Macroeconomic Analysis (CAMA) in the Crawford School of Public Policy at the Australian National University (ANU).
Roshen Fernando is a PhD Student in Economic Policy, at the Australian National University.
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wdavis-8cCN98p7xp

Economic modelling of Coronavirus fallout paints grim picture for Australia; Warwick McKibbin and Roshen Fernando

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EXPERT OBSERVATION
Australia’s three-decade run of near continuous economic growth is set to end, according to Visiting Fellow at ANU’s Crawford School of Public Policy, Peter Martin.
The treasury has warned a hit to growth of “at least” 0.5% in the first quarter of this year, potentially followed by a “prolonged downturn”.
If it came to pass, treasury’s preliminary assessment would most likely mean economic growth vanished and went backwards for several quarters, producing what is commonly known as a “technical recession” – two quarters or more in which income and spending shrink.
Providing the assessment to a Senate estimates committee on Thursday morning, treasury secretary Steven Kennedy said the COVID-19 coronavirus would take “at least half a percentage point” from economic growth during the current March quarter and more beyond that.
In recent quarters economic growth has been about half a percentage point.
<img src="https://www.urban.com.au/images/2020/3/10/GDP.png" alt="">
Treasury’s preliminary estimate of a hit of at least half a per cent took into account only the direct impacts of the virus on tourism and education, and some exchange rate effects.
It did not take into account broader economic effects or the impact of the coronavirus on supply chains.
The half a percentage point hit to growth would come on top of a hit of 0.2% from the summer bushfires, most of which would be felt in the March quarter.
Dr Kennedy, a former nurse who retrained as an economist, stressed that the impact of the bushfires would extend well beyond the immediate hit to economic growth.
“Evidence from past episodes suggest bushfires can lead to long-lasting physical and mental health effects and destroy cultural heritage,” he said.
“Research by the University of Melbourne after the Black Saturday bushfires in 2009 found mental health problems continued for three to four years.”
The bushfires made clear the increased probability of such events in a world of climate change.
“The CSIRO predicts climate change will make bushfires more likely, as fire weather patterns worsen as a result of an increase in weather patterns with hot and dry winds and fuel becoming drier.”
As of Wednesday there had been 91,868 confirmed COVID-19 cases worldwide and 3,131 deaths, most in China. COVID-19 had spread to 77 countries.
When the virus first emerged in China in December, the treasury saw it through the lens of the 2002-04 Severe Acute Respiratory Syndrome (SARS) pandemic.
It was now clear COVID-19 would be different.
The impact of SARS took on a V shape, a relatively contained reduction in activity, mostly in Asia, followed by a quick bounce back.
The economic impact of COVID-19 is likely to be deeper, wider and longer when compared with SARS.
It will create more risk of a prolonged downturn, and fiscal support will be needed to accelerate the recovery of the economy, especially once the health and health management effects of COVID-19 begin to fade.
The first phase of the economic support package to be delivered next week would target assistance to the businesses and sectors most affected in order to keep people in jobs.
After that, support for aggregate demand (overall spending) would become more important.
“A very substantial part of the impact is actually confidence among consumers and the business sector because of the uncertainty,” Dr Kennedy said.
“Frankly, effective health management will be very important. The economy is actually quite solid. One of the key things will be to to explain to the community how well placed the economy is to manage such a short-term shock.”
The shock would last for some time but the economy would “recover on the other side”.
Keeping workers employed would be very important.
 
PETER MARTIN is a Visiting Fellow at ANU’s Crawford School of Public Policy
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Three-decades of economic growth set to end; Peter Martin

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Westpac's chief economist Bill Evans, dubbed the rate whisperer for his consistently accurate forecasts on the RBA's cash rate calls, has predicted a 2020 recession in Australia.
"On a quarterly basis we expect the economy will contract in both the first and second quarters by 0.3% and 0.3% respectively", Evans said.
Evans however noted Australia won't come out of 2020 in negative growth.
"[The decline will be] followed by a rebound of 1.4% and 0.8% respectively in the third and fourth quarters", Evans continued, which would put the economic growth in 2020 at 1.6 per cent.
Evans says it will technically be a recession, which is defined as back to back quarters of negative growth, however he says given the forecasted second half of the year pick up it should be characterised as a "major disruption".
Evans says they expect the unemployment rate to hold below six per cent over the period. Australia's last two recessions saw the unemployment rate rise from six per cent to 11 per cent.
The veteran chief economist also says there's a great level of uncertainty surrounding the forecasts due to the unpredictable course of the coronavirus outbreak.
"The economy will be dealing with the impact of the virus when it is in a relatively fragile state with growth in 2019 at 2.2% compared to potential of 2.75%", Evans said.
<iframe src="https://www.youtube.com/embed/UTZSyY8Ef-o" frameborder="0" width="360" height="315"></iframe> Evans speaking on the prospect of a recession. Source: Westpac
He believes the 0.3 per cent contraction in the March quarter will be driven by a 10 per cent decline in services exports such as education, tourism and transport, as well as a 3.5 per cent decline in goods exports.
Evans says of most importance in the 0.3 per cent forecast decline in the June quarter will be a 1.2 per cent contraction in consumer spending.
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"The most vulnerable components of consumer spending (hotels; restaurants and cafes; recreational services; and air travel) are forecast to contract by two per cent in the March quarter to be followed by a 13 per cent contraction in the June quarter."
Evans did however add that consumer spending on products such as food and other essentials will be up 3.4 per cent.
But by the September quarter the contraction will have ended.
“Our figuring is on the basis that by the September quarter the direct impact of the virus and the policies required to contain it will have eased significantly. We expect that development on a global basis providing a significant boost to financial markets.”
The third quarter would show a 1.4 per cent increase in GDP, which would be followed by a 0.8 per cent increase in the final quarter of 2020.
“Based on this growth profile we expect that the unemployment rate will increase to a peak of 5.8 per cent in the second half of 2020; that will be marked by a period of no new jobs growth, followed by outright job losses, to be followed by a sequence of months with jobs growth beginning to recover in the fourth quarter,” Evans said.
“Partly easing the pressure on the unemployment rate will be a fall in the participation rate as workers become discouraged by the deteriorating jobs market.”
 
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jrobinson-rf4aSBido9

Westpac's Bill Evans tips 2020 recession

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EXPERT OBSERVER
Westpac has revised its growth forecasts for the Australian economy in 2020 to take into account the expected impact from the Coronavirus. The numbers are based on a "no fiscal stimulus package" basis. The Government is set to announce its policy response later in the week and it will be necessary to adjust the numbers according to our assessment of the impact of the policies.
We expect the Australian economy will grow by 1.6% (in the year to the December quarter 2020) although growth momentum will be in two halves with the first half showing a contraction of 0.6% and the second half growing by 2.2%.
On a quarterly basis we expect the economy will contract in both the first and second quarters by 0.3% and 0.3% respectively to be followed by a rebound of 1.4% and 0.8% respectively in the third and fourth quarters.
That growth profile constitutes a technical recession but given the expected recovery in the second half of the year it is much more realistic to characterise the situation as a "major disruption" to growth rather than the style of recession that Australia has experienced in the past. Indeed, recall that in Australia’s last two recessions the unemployment rate lifted from 6% to around 11%.
We expect the unemployment rate to hold below 6% through this period.
Furthermore, there is much greater uncertainty around these forecasts due to the unpredictable course of the outbreak.
In discussing this profile it is probably best to consider the growth dynamics through each of the quarters in 2020.
The first point to note is that the economy will be dealing with the impact of the virus when it is in a relatively fragile state with growth in 2019 at 2.2% compared to potential of 2.75%.
In particular, consumer spending has been insipid with the annualised pace running at only 1% in the second half of 2020.This means that consumer spending is likely to be less resilient to shocks than if momentum had been robust.
Whereas exports (tourism; foreign students; agriculture; resources) and inventories (disrupted supply chains) will explain the major shocks in the March quarter given their exposure to the Chinese economy, the June quarter contraction will be dominated by Australia’s and the rest of the world’s exposure to the virus and the lagged effect of China’s recession in the March quarter. In particular the impact on the rest of the world has already been affecting financial markets which is likely to puncture confidence more widely.
BILL EVANS is <a href="https://www.westpac.com.au/news/authors/bill-evans/" target="_blank">chief economist of Westpac</a>. 
This article was <a href="https://westpaciq.westpac.com.au/Article/42476/14186/" target="_blank">first published on WestpacIQ</a>.
 
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bevans-rYk9SxEa4r

Westpac cuts growth forecasts for 2020

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EXPERT OBSERVATION 
Australia’s three-decade run of near continuous economic growth is set to end, with treasury warning of a hit to growth of “at least” 0.5% in the first quarter of this year, potentially followed by a “prolonged downturn”.
If it came to pass, treasury’s preliminary assessment would most likely mean economic growth vanished and went backwards for several quarters, producing what is commonly known as a “<a href="https://www.smh.com.au/politics/federal/the-really-lucky-country-talk-of-recession-as-australia-takes-world-record-20170601-gwiiwl" target="_blank">technical recession</a>” – two quarters or more in which income and spending shrink.
Providing the <a href="https://treasury.gov.au/speech/opening-statement-march-2020-senate-estimates" target="_blank">assessment</a> to a Senate estimates committee on Thursday morning, treasury secretary Steven Kennedy said the COVID-19 coronavirus would take “at least half a percentage point” from economic growth during the current March quarter and more beyond that.
In recent quarters economic growth has been about half a percentage point.
Quarterly GDP growth
<a href="https://images.theconversation.com/files/318783/original/file-20200305-127918-160glbr.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/318783/original/file-20200305-127918-160glbr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Treasury’s preliminary estimate of a hit of at least half a per cent took into account only the direct impacts of the virus on tourism and education, and some exchange rate effects.
It did not take into account broader economic effects or the impact of the coronavirus on supply chains.
The half a percentage point hit to growth would come on top of a hit of 0.2% from the summer bushfires, most of which would be felt in the March quarter.
<hr>
 Read more: <a href="https://theconversation.com/support-package-gains-shape-as-gdp-turning-point-swamped-132969">Support package gains shape as GDP turning point swamped</a> 
<hr>
Dr Kennedy, a former nurse who retrained as an economist, stressed that the impact of the bushfires would extend well beyond the immediate hit to economic growth.
“Evidence from past episodes suggest bushfires can lead to long-lasting physical and mental health effects and destroy cultural heritage,” he said.
“Research by the University of Melbourne after the Black Saturday bushfires in 2009 found mental health problems continued for three to four years.”
The bushfires made clear the increased probability of such events in a world of climate change.
“The CSIRO predicts climate change will make bushfires more likely, as fire weather patterns worsen as a result of an increase in weather patterns with hot and dry winds and fuel becoming drier.”
Deeper, wider and longer lasting than SARS
As of Wednesday there had been 91,868 confirmed COVID-19 cases worldwide and 3,131 deaths, most in China. COVID-19 had spread to 77 countries.
When the virus first emerged in China in December, the treasury saw it through the lens of the 2002-04 Severe Acute Respiratory Syndrome (SARS) pandemic.
It was now clear COVID-19 would be different.
The impact of SARS took on a V shape, a relatively contained reduction in activity, mostly in Asia, followed by a quick bounce back.
The economic impact of COVID-19 is likely to be deeper, wider and longer when compared with SARS.
It will create more risk of a prolonged downturn, and fiscal support will be needed to accelerate the recovery of the economy, especially once the health and health management effects of COVID-19 begin to fade.
The first phase of the economic support package to be delivered next week would target assistance to the businesses and sectors most affected in order to keep people in jobs.
After that, support for aggregate demand (overall spending) would become more important.
“A very substantial part of the impact is actually confidence among consumers and the business sector because of the uncertainty,” Dr Kennedy said.
“Frankly, effective health management will be very important. The economy is actually quite solid. One of the key things will be to to explain to the community how well placed the economy is to manage such a short-term shock.”
The shock would last for some time but the economy would “recover on the other side”.
Keeping workers employed would be very important.<img src="https://counter.theconversation.com/content/133053/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/peter-martin-682709">Peter Martin</a>, Visiting Fellow, <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292">Crawford School of Public Policy, Australian National University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/economic-growth-near-an-end-as-treasury-talks-of-prolonged-coronavirus-downturn-133053">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Economic growth nearing an end as Treasury talks of prolonged coronavirus downturn: ANU's Peter Martin

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Transactions of retail properties in Adelaide hit lows throughout last year as investors became pessimistic about the sector, with sales volumes falling 22% on 2018 levels, according to the latest report from valuation from Herron Todd White.
“While the sector may be struggling overall; there are some shining lights in what looks a difficult transition period for retail property. In essence, we are witnessing the retail sector attempting to adapt to the changing consumer patterns arising from the growth of e-commerce and the online retail marketplace,” the firm said.
The March report adds that adaption remains the key to success - The centres and retailers that can welcome and adapt to change will excel, or at least keep their heads above water, while those who can’t will continue to struggle.
Online purchases currently account for 17% of non-food retail sales in Australia and 9% of total retail sales – and this number is only going to grow.
Property owners will need to embrace the online domain, shifting some of their sales and services online whilst simultaneously lowering overheads at their brick and mortar stores.
"The trouble highlighted in retailers is for nonfood goods – apparel, footwear and general merchandise – where it is easier, more convenient and often cheaper to purchase online. Food and grocery sales only account for 3% of online purchases, meaning that supermarkets are here to stay as anchor tenants for a while yet," the firm said.
Retail hubs are likely to take advantage of the recent growth in the food sector, with more cafes and restaurants popping up in hubs to draw tenants in, and then hopefully entice them into spending money in the specialty stores.
Amazon Hub locations are beginning to pop up around Australia; essentially a click and collect service where consumers can pick up parcels ordered online at a self-serve Amazon locker, as opposed to having it delivered to their home.
Delivery lockers are enabling larger centres to transform and become places where people consume services and experiences, as opposed to places where people simply purchase goods.
There’s still room for rental growth and capital gains in the Adelaide retail property sector, however at lower levels than will be evident in the industrial and office sectors. Interest rates are forecasted to drop, potentially twice throughout the year, and as a result of this we will see some more capital gains for property, yet with further yield compression across the board.
The retailers that continue to outperform others are the food retailers – cafes, restaurants and takeaway food services. As mentioned, we continue to see strong performance for retailers that can’t be replaced by the online domain, however retail hubs and complexes need to be careful to avoid excessive inter-competition between food retailers.
"Furthermore, the recent exit of Kaufland from the Australian market has further enhanced the outlook for Australia’s supermarket giants. The supermarket oligopoly of Woolworths, Coles and Foodland can now invest in assets with more assurance that the newcomer isn’t going to take a portion of their market share," the report added. 
The firm concluded that, in this day and age, constant refurbishment is required to keep shops and complexes updated, and to keep foot traffic coming through the door.
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Adelaide real estate investors pessimistic about retail market: HTW

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The retail property market in Perth continues to face challenging conditions, according to the latest report from valuation firm Herron Todd White.
"Demand for retail space remains hampered by restrained consumer spending coinciding with the state’s sluggish economic performance," the firm found.
Additionally, online retail spending continues to grow rapidly and apply further pressure on the Perth retail market.
Despite some renewed optimism in the resource sector, confidence in general remains depressed, according to the March report.
The above has translated generally speaking to rental rates for retail premises experiencing a downward trend over the past 12 months with incentives in the form of net rent-free periods or fit-out contributions prevalent.
Landlords are being faced with the option of renegotiating lease terms to maintain occupancy or alternatively, risk extended periods of vacancy.
"These conditions are more prevalent in secondary and suburban strip locations, although it appears that prime CBD mall and high street locations including Oxford Street, Leederville, Beaufort Street, Mount Lawley and Bay View Terrace, Claremont are now beginning to experience a similar situation with vacancies becoming commonplace," the firm said.
"Investment grade retail property such as neighbourhood shopping centres however remain a highly sought-after asset. Yield compression is evident, largely driven by the low prevailing cost of funds in the current debt finance market and despite the general malaise that continues to impact the wider Western Australian economy including softening rentals and a steady stream of business failures and receiverships, the report found.
"However, there are a certain number of key metrics that informed investors consider, relating to length of remaining lease term, financial strength of the tenant(s) and locational attributes, as investors take advantage of the spread between the low cost of debt and large format retail investment yields."
Where all or a majority of these metrics are satisfied, very tight yields are being achieved in the current market. Assets that do not possess these key criteria are however less sought after and often transact at a much higher yield reflecting the greater tenancy risk.
In defiance of the above however, sites in the aforementioned high street locations remain keenly sought after despite the level of tenancy risk.
This is a function of the scarcity of sites offered to the market in these locations and the high underlying land value. Yields for similar sites below 5.5% are not uncommon.
In respect to investment grade retail transactions, there were a number of such sales of late within the Perth metropolitan area. All were hotly contested and attracted offers between 5.00% and 6.25%. Interestingly, the yield differential between Coles or Woolworths anchored centres and those anchored by IGA or Metcash (or even Aldi) remains pronounced and in the order of 0.75% to 1.25%.
Despite the conditions described above, institutional owned major regional and subregional shopping centres within Western Australia have pushed ahead with expansions following the removal of the cap on maximum retail floor space and the state government’s push to create activity centres.
These expansion projects will have a focus on delivering a better retail experience for shoppers with the creation of food hubs, entertainment options (such as cinemas), health care and in some cases, residential apartments.
As a result, some envisage these centres becoming community centres as opposed to traditional shopping centres in the future.
Herron Todd White's report concluded that opportunity does exist for investors with an increased risk appetite to acquire some of the less sought-after assets in the market place at yield premiums, or assets which would benefit from repositioning or capital expenditure.
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Perth retail property continues to battle challenging conditions: Herron Todd White

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A Nunawading warehouse office was sold by CVA's Jarrod Moran and Stan Dawidowski on February 26, 2020.
Located just off Whitehorse Road’s ‘Golden Mile’, the <a href="https://www.realestate.com.au/property/42-metropolitan-ave-nunawading-vic-3131" target="_blank">Metropolitan Avenue propert</a>y sold for $980,000 which far exceeded vendor expectations.
The four-week campaign attracted more than 65 enquiries with over 40 auction attendees and 7 bidders battling it out for this rare street fronting industrial facility.
The subject property comprises 283 sqm total floor area inclusive of 183 sqm high clearance warehouse with motorised roller door access, 100 sqm two level open plan air-conditioned office plus four allocated on site car spaces.
The warehouse last sold in 2016 for $750,000. 
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Warehouse office sold under the hammer in 'Golden Mile' precinct

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Teska Carson is marketing a retail investment opportunity at Burwood East in Melbourne’s eastern suburban heartland.
The property will be auctioned on Friday, March 27 at 1pm on site.
The shop 13, 10-14 Burwood Highway, property comprises a 60 square metre retail premises utilised as a newsagency and returning $46,160 per annum on an eight year term (with an eight year option) from August 2019.
Located in the tightly held and highly sought after Burwood Heights Shopping Centre the property, trading as East Burwood Newsagency, is part of a Woolworths anchored centre with 37 shops including a Commonwealth Bank, BWS, medical, health &amp; beauty, café and food outlets.
According to Teska Carson marketing agents, Luke Bisset and Michael Taylor, the property also benefits from the Centre’s excellent exposure to both Burwood Highway and Middleborough Road, and ample on-site customer parking.
This is a superbly located property which infinitely enhances its investment credentials along with the secure eight year lease and the attraction of 37 specialty stores and the Woolworths supermarket.
These credentials have made these shops highly desirable from an investment point of view and it goes without saying that this property is likely to attract a high level of investor interest,’’ Mr Bisset said.
He said the property, zoned Commercial 1 under the City of Whitehorse Planning Scheme, also benefitted from its position within the City of Whitehorse which is home to some of Melbourne’s leading educational, medical and leisure facilities and features the largest information and communication technology precinct in Melbourne’s east. 
Located 20 kilometres east of Melbourne’s CBD the municipality covers an area of 64 square kilometres, has access to an extensive public transport system and is strategically positioned to take advantage of the Eastern Freeway and EastLink.
Mr Taylor said the local community was very well resourced and continued to attract new residents and new businesses.
This strongly growing community provides investors with confidence that demand for commercial property will also continue to grow,’’ Mr Taylor said.
He said the property’s key attributes included its prime location within a strongly trading centre, a secure eight year lease and transport links and parking. 
With good trade exposure, the property has optimistic growth prospects.
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Leased retail property in Burwood East for sale: Teska Carson

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EXPERT OBSERVER
Regional Queensland markets are at their strongest in three years, with growth momentum unfolding in multiple centres across the state.
Our Autumn 2020 survey of sales activity shows that Regional Queensland has 55 locations with upwardly mobile markets, the highest we have recorded in our quarterly surveys since early 2017. There has been only one better quarter in the past five years.
The number of “declining” markets has reduced (from 12 six months ago to six now) and there are now few danger markets outside of the perennial struggler, Mount Isa.
Resources-related centres which have been in decline previously - including Gladstone, Emerald and Moranbah - are showing increasing signs of recovery, with notable uplift in median house prices in these places.
The Sunshine Coast continues to lead Regional Queensland in terms of the number of suburbs with rising demand. It has 12 growth suburbs and numerous others with steady buyer demand.
The Sunshine Coast has a strengthening economy boosted by massive spending on infrastructure as it transitions from tourist town to international city. A $400 million upgrade will allow Sunshine Coast Airport to accept international flights later this year, while the Sunshine Coast International Broadband network will create the fastest internet connections to Asia anywhere in eastern Australia via the subsea cable.
The Sunshine Coast is also building a 53ha CBD from the ground up and a $5 billion medical precinct is well under way.
Nearby Gympie also has growth markets and benefits from offering an affordable alternative to the Sunshine Coast, to which it is well-connected following billion-dollar highway upgrades.
The big improver in our Autumn survey is Cairns, which now has nine suburbs with growing sales activity. Some of its suburbs are producing solid growth in their median prices.
This puts Cairns on level terms with the much-larger Gold Coast City, which also has nine growth suburbs but 33 suburbs with plateau markets - which suggests the Gold Coast market overall is solid but not heading into big price growth.
Townsville is gradually fighting back from the devastating floods of early 2019 and now has five upwardly mobile suburbs but, as yet, no compelling evidence of price growth.
There is growing evidence of recovery in resources towns in Central Queensland. Gladstone, which was plunged into downturn by developer oversupply, now has lower vacancies, better sales activity and prices are rising again - but still remain well below the pre-downturn peak levels. Anyone tempted should remember the volatility shown by this market in the past.
Iconic coal mining town Moranbah is also fighting back. Its median house price rose 11% in the past year to reach $230,000 - but with a long way to go reach the heights of the mining boom when the median topped $700,000.
Emerald continues to improve, with its median price up 10% to $330,000 in the past year.
Blackwater’s situation shows how much these markets fell after the mining boom stopped - and how deceptive median price statistics can be. Its median price has risen 42% in the past 12 months but is still just $140,000. Previously, typical values had plunged to below $100,000.
Mackay has stood out in recent surveys as a recovering market with good growth prospects and currently has four suburbs with rising sales activity. Rockhampton has potential but as yet has not joined the upward trend.
The important inland city of Toowoomba is showing promise but, as yet, has no compelling evidence of significant growth.
The overall improvement in sales volumes across Regional Queensland is beginning to show up in price performance. Our research shows that half of the towns and suburbs of Regional Queensland have recorded some level of price growth in the past year.
The strongest performers overall have been the Sunshine Coast and the Gold Coast, with Cairns locations also starting to show up.
Sunshine Coast leaders in annual price growth include Warana (up 19%), Parreara (up 12%) and Alexandra Headland (up 18%) for houses, and Buddina (up 26%) for apartments.
The best on the Gold Coast have been Palm Beach, Worongary and Surfers Paradise (all up 10%) for houses, and Burleigh Heads, Currumbin Waters and Clear Island Waters (all up 10-12%) for apartments.
The tourist town of Port Douglas, which is part of the Cairns LGA, is notable for delivering good median price growth for both houses (up 11%) and apartments (up 7%) in the past year.
TERRY RYDER is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
To win a free investment strategy session with Terry Ryder, complete our <a href="https://www.surveymonkey.com/r/ZXRSJVJ" target="_blank">sentiment survey here</a>.
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