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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There has long been a vigorous debate about the many and varied reasons why electricity prices in Australia are so high. 
An <a href="https://www.accc.gov.au/regulated-infrastructure/energy/electricity-supply-prices-inquiry/final-report" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">ACCC review</a> found retail electricity markets mostly do not work in the interests of the customer – but this is only part of the story.
Another commonly accepted theory assumes that long-term customers of an electricity retailer pay a “loyalty tax” while those who switch every year save money.
But <a href="https://docs.wixstatic.com/ugd/cb01c4_8babedb580d44ca080fefea8b2ae8b0b.pdf" target="_blank">our research</a> has found that Victorians who switch their energy providers typically save less than A$50 a year. This challenges the common understanding of how these markets work.
<h2>Questioning common wisdom</h2>
Working from the assumption that seeking better deals can save households significant amounts, governments throughout Australia have encouraged customers to switch retailers often. Switching rates in Australia are actually very high, especially so in Victoria.
To test how well the theory matches reality, the Victorian government provided my colleagues and I with 50,000 real electricity bills uploaded by Victorian households to the government’s price comparison website in late 2018. (These households agreed their bills could be used for research purposes and bill uploads were voluntary.)
Our sample is reasonably representative of the population, although we think these customers may be a little more engaged with the energy market than typical Victorians.
What we found challenges the commonly accepted theory of how the retail market works. As it turns out, for most customers, switching retailers does not greatly reduce the amount of money they leave on the table (the difference between their annual bills and the market’s best offers).
The typical customer that has not switched energy retailers in the last year could have saved A$281 per year (about 20% of their bill) if they had signed up to the best possible deal.
 
But in reality, customers that did switch retailers in the last year saved only A$45 a year, or about 3% of their annual bill. This suggests that customers are not switching to the best possible deals. A A$45 saving is not a great reward for the time and effort they would have spent searching and then switching.
The first reaction of many economists to our finding would be that the retail market is working: the competitive pressures from switchers shows profits have been competed away and there is now little to be gained from switching.
From this perspective, those who did not switch could rest easy that the market was working for them. This is, after all, how many markets work. I am often amazed at the quality of many things I buy, and their prices that fall without me having to do anything to bring it about.
However, this does not seem to be the full picture in the electricity market. All customers, switchers and remainers, are typically paying some 20% more than the cheapest available option.
And it’s not that there are just one or two fantastic deals that customers are missing – there is a good number of much cheaper deals that they are not finding.
We also cannot assume customers are looking for other qualities, like customer service, instead of lower prices: saving money is by far the main reason customers switch.
<h2>Why is this happening?</h2>
Our finding begs an explanation. We suggest it starts with the observation that while electricity is extremely valuable, it’s just a utility. While people get pleasure from buying many things, electricity is certainly not one of them. Quite understandably, most customers want to spend as little time as possible engaging in electricity markets.
Many offers are also eye-wateringly complex. Large businesses fare far better than households in the energy market, through the simple but costly method of hiring professional consultants to find the best deals.
So, we have a complex product that requires skill to buy well but customers are, quite rationally in most cases, reluctant to spend the time acquiring those skills. It is understandable why most people do not do well when they navigate the market on their own.
But when customers seek advice from price comparison websites and similar advisors - as around half seem to do – they are often not getting good advice.
Perhaps this is to be expected in a market in which advisors are almost always paid by the sellers, and customers have little ability to assess the quality of the advice they get.
There are no easy solutions. Governments face the often mutually inconsistent objectives of stimulating choice and making choice simpler. The task is difficult at the best of times, and governments are seldom good at engaging with dynamic, fast-moving markets.
Some might argue that cheaper retailers simply have to convince customers of their merits, relative to the more expensive offers from the other retailers that most customers select. But electricity must already be one of the most advertised products in Victoria.
About 110 years ago, economist Alfred Marshall <a href="http://la.utexas.edu/users/hcleaver/368/368MarshallChivalrytable.pdf" target="_blank">suggested</a> that a government could print a good edition of Shakespeare’s works, but it could not have got them written. While the carcass of municipal electric works belongs to the officials, he said, the genius belongs to free enterprise.
The creation of a retail electricity market in Victoria 17 years ago sought to bring the “genius” of free enterprise to the sale of electricity to small customers. Taken in the round, the results so far are not entirely encouraging.<img src="https://counter.theconversation.com/content/122786/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/bruce-mountain-141253" target="_blank">Bruce Mountain</a>, Director, Victoria Energy Policy Centre, <a href="http://theconversation.com/institutions/victoria-university-1175" target="_blank">Victoria University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/victorians-who-switched-energy-retailers-only-save-45-a-year-leaving-hundreds-on-the-table-122786" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Victorians who switched energy retailers only save $45 a year – leaving hundreds on the table

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GUEST OBSERVATION
As environmental crises and the urgency to create ecological sustainability escalate, so does the importance of ecological economics. This applied, solutions-based field of studies is concerned with sustainability and development, rather than efficiency and growth. Also, given that cities account for <a href="http://nua.unhabitat.org/details1.asp?ProjectId=33&amp;ln=1" target="_blank">70-80% of global economic activity</a> and associated <a href="https://www.journals.elsevier.com/environmental-development/news/urban-resource-flows-and-the-governance" target="_blank">resource use</a>, <a href="https://www.un.org/en/climatechange/cities-pollution.shtml" target="_blank">emissions</a> and <a href="https://www.worldbank.org/en/news/press-release/2018/09/20/global-waste-to-grow-by-70-percent-by-2050-unless-urgent-action-is-taken-world-bank-report" target="_blank">waste</a>, they are central to finding solutions to the challenge of sustainability.
Ecological economics recognises local to global environmental limits. It ranges from research for short-term policy and local challenges through to long-term visions of sustainable societies. Ecological economists also consider global issues such as <a href="https://theconversation.com/climate-explained-what-each-of-us-can-do-to-reduce-our-carbon-footprint-123851" target="_blank">carbon emissions</a>, <a href="https://theconversation.com/the-amazon-is-on-fire-here-are-5-things-you-need-to-know-122326">deforestation</a>, <a href="https://theconversation.com/plenty-of-fish-in-the-sea-not-necessarily-as-history-shows-84440" target="_blank">overfishing</a> and <a href="https://theconversation.com/plants-are-going-extinct-up-to-350-times-faster-than-the-historical-norm-122255" target="_blank">species extinctions</a>.
Core concepts
You’re probably familiar with some core concepts of ecological economics. These include “steady-state economies”, “carrying capacity”, “ecological footprints” and “environmental justice”.
<a href="https://images.theconversation.com/files/299762/original/file-20191031-187912-wzwxwn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/299762/original/file-20191031-187912-wzwxwn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
Nicholas Georgescu-Roegen was one of the first economists to argue that an economy faces limits to growth as a result of resource depletion.
A <a href="https://www.casse-nsw.org.au/" target="_blank">steady-state economy</a> is both relatively stable and respects ecological limits. Drawing on the work of mathematician and economist <a href="https://www.hetwebsite.net/het/profiles/georgescu.htm" target="_blank">Nicholas Georgescu-Roegen</a>, economist <a href="http://np4sd.org/about/herman-daly/" target="_blank">Herman Daly</a> elaborated the model, editing a 1973 anthology, <a href="https://en.wikipedia.org/wiki/Herman_Daly#Toward_a_Steady-State_Economy" target="_blank">Toward a Steady-State Economy</a>.
In 1990, Daly co-founded the International Society of Ecological Economics (<a href="http://www.isecoeco.org/" target="_blank">ISEE</a>). It had three key principles:
<ul>
<li>
the human economy is embedded in nature, and economic processes are actually biological, physical and chemical processes and transformations
</li>
<li>
ecological economics is a meeting place for researchers committed to environmental issues
</li>
<li>
ecological economics requires transdisciplinary work to describe economic processes in relation to physical reality.
</li>
</ul>
<a href="https://www.uvm.edu/gund/profiles/joshua-farley" target="_blank">Joshua Farley</a>, who has worked with Daly, discusses some of these principles in an opening address to the Australia New Zealand Society of Ecological Economics (<a href="https://anzsee.org.au/" target="_blank">ANZSEE</a>) <a href="https://anzsee.org.au/2019-anzsee-conference/" target="_blank">conference</a> at RMIT University later this month.
In a partnership program of several North American universities, Farley teaches <a href="https://e4a-net.org/what-is-e4a/" target="_blank">Economics for the Anthropocene</a> postgraduates. They apply ecological economics to “real-world environmental solutions”. Some will talk at the conference about their research.
Today overconsumption is measured against Earth’s <a href="https://theconversation.com/human-carrying-capacity-and-our-need-for-a-parachute-7160" target="_blank">carrying capacity</a>.
<a href="http://williamrees.org/biography/" target="_blank">William Rees</a> and <a href="https://www.footprintnetwork.org/about-us/people/?_ga=2.189136171.1872162861.1572564412-1050177602.1571894476" target="_blank">Mathis Wackernagel</a> developed the related concept of the <a href="https://www.footprintnetwork.org/" target="_blank">ecological footprint</a>. It’s an indicator of the ecological impacts of everyday activities and practices.
Ecological footprints are useful ways for industries, <a href="https://theconversation.com/chinese-migrants-follow-and-add-to-australian-city-dwellers-giant-ecological-footprints-103921" target="_blank">governments</a> and <a href="https://www.wwf.org.au/get-involved/change-the-way-you-live/ecological-footprint-calculator#gs.8476ub" target="_blank">people</a> to assess which practices we need to reduce to keep within the limits of Earth’s regenerative capacity.
ISEE co-founder <a href="https://ictaweb.uab.cat/personal_detail.php?id=15" target="_blank">Joan Martinez-Alier</a> established the global <a href="https://ejatlas.org/" target="_blank">Environmental Justice Atlas</a>. Activists and scholars developed this online database of around 3,000 environmental justice conflicts. It provides open access to many and various ecological and economic value assessments.
Issues of <a href="https://ejatlas.org/country/australia" target="_blank">environmental justice in Australia</a> include:
<ul>
<li>
<a href="https://gards.org/asbestos-related-disease-facts-and-figures-australia-2018/" target="_blank">fatalities from asbestos-related diseases</a>
</li>
<li>
<a href="https://theconversation.com/fossil-fuels-are-bad-for-your-health-and-harmful-in-many-ways-besides-climate-change-107771" target="_blank">health and climate impacts of coal mining</a> and <a href="https://theconversation.com/expanding-gas-mining-threatens-our-climate-water-and-health-113047" target="_blank">natural gas fracking</a>
</li>
<li>
<a href="https://theconversation.com/dont-just-blame-government-and-business-for-the-recycling-crisis-it-begins-with-us-121241" target="_blank">ineffective waste systems</a> and <a href="https://theconversation.com/explainer-how-much-landfill-does-australia-have-78404" target="_blank">landfills</a>
</li>
<li>
<a href="https://theconversation.com/logged-native-forests-mostly-end-up-in-landfill-not-in-buildings-and-furniture-115054" target="_blank">clear-felling of Australian forests</a>, and <a href="https://theconversation.com/australia-might-water-down-illegal-logging-laws-heres-why-its-a-bad-idea-86832" target="_blank">timber imports</a> from Asia-Pacific deforestation. 
</li>
</ul>
A new kind of economics
Ecological economics partly developed from frustration with the narrowness of environmental and resource economics. These approaches apply mainstream economics to the environment. In doing so, they fail to incorporate critical environmental concerns that arise with inputs, outputs and waste.
In addition, ecological economists have a <a href="https://theconversation.com/beyond-gdp-are-there-better-ways-to-measure-well-being-33414" target="_blank">broader view about what “progress” is</a> and how to measure it. Ecological econonomists are more sceptical about how much human-made capital improves on the benefits we get from nature. Critically, they ask: “How useful is it to put a monetary value on nature?”
Ecological economist <a href="https://theconversation.com/profiles/clive-hamilton-195">Clive Hamilton</a> <a href="https://theconversation.com/the-price-of-god-at-coronation-hill-49235" target="_blank">discusses</a> that question in the case of Coronation Hill in Kakadu National Park. He argues that market-based assessments such as “willingness to pay” favour market-based solutions. Similarly, <a href="https://theconversation.com/profiles/brian-coffey-162907">Brian Coffey</a> <a href="https://theconversation.com/cents-and-sensibility-why-its-unwise-to-put-dollar-figures-on-nature-49508" target="_blank">highlights</a> the conundrum of monetising ecological values: "I would rather ask “why is nature important?” and “how can we live with, and within, it?”
Despite this, certain ecological economists use monetary data to make powerful ecological statements. For instance, <a href="https://theconversation.com/profiles/ida-kubiszewski-142545" target="_blank">Ida Kubiszewski</a> and her co-authors surveyed land uses under different future scenarios. They <a href="https://theconversation.com/without-action-asia-pacific-ecosystems-could-lose-a-third-of-their-value-by-2050-63452" target="_blank">concluded</a> that continuing business as usual could wipe out a third of the value of Asia-Pacific ecosystems by 2050.
Solutions for sustainable and just futures
In short, ecological economics has contributors from diverse disciplinary and professional backgrounds.
Presenters to the ANZSEE conference of course include ecologists and economists. But there are also social and physical scientists, sociologists, philosophers, historians, planners and sustainability experts.
Sustainability expert <a href="https://theconversation.com/profiles/samuel-alexander-102353" target="_blank">Samuel Alexander</a> speaks about <a href="https://theconversation.com/limits-to-growth-policies-to-steer-the-economy-away-from-disaster-57721" target="_blank">living well with degrowth</a>. Others argue that a climate-safe world requires radical forms of economics.
Contributors will also talk about <a href="https://theconversation.com/why-our-response-to-climate-change-needs-to-be-a-just-and-careful-revolution-that-limits-pushback-123588" target="_blank">just transitions</a>, <a href="https://theconversation.com/keeping-the-city-cool-isnt-just-about-tree-cover-it-calls-for-a-commons-based-climate-response-120491" target="_blank">commoning</a>, the <a href="https://theconversation.com/the-search-for-an-alternative-to-gdp-to-measure-a-nations-progress-the-new-zealand-experience-118169" target="_blank">genuine progress indicator</a> (GPI), <a href="https://theconversation.com/i-stand-with-the-climate-striking-students-its-time-to-create-a-new-economy-123893" target="_blank">School Strike for Climate</a> (SS4C), <a href="https://theconversation.com/what-next-after-100-resilient-cities-funding-ends-116734" target="_blank">resilience</a>, <a href="https://theconversation.com/2050-is-too-late-we-must-drastically-cut-emissions-much-sooner-121512" target="_blank">decarbonisation</a> and ethical investment. Keynote speaker <a href="https://theconversation.com/profiles/jon-altman-2991" target="_blank">Jon Altman</a> presents a model of hybrid economies that’s useful in the context of Indigenous peoples.<img src="https://counter.theconversation.com/content/123915/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;">
Anitra Nelson, Associate Professor, Centre for Urban Research, RMIT University.
Brian Coffey, Vice-Chancellor's Research Fellow, Centre for Urban Research, RMIT University, RMIT University.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-is-ecological-economics-and-why-do-we-need-to-talk-about-it-123915" target="_blank">original article</a>.
This article is part of a series on rebalancing the human–nature interactions that are central to the study and practice of ecological economics, which is the focus of the 2019 ANZSEE Conference in Melbourne later this month.
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What is ‘ecological economics’ and why do we need to talk about it?

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The Liverpool office market is tightly held with limited transactions occurring over the past few years, according to Ray White’s latest research.
“This is driven by a strong local investor and developer market, however, there have been limited prime assets traded in recent times,” according to Ray White Commercial NSW – Western Sydney Managing Director, Peter Vines.
 “As occupancy costs across more traditional office markets like Sydney CBD, Parramatta and North Shore have increased due to reducing vacancies, many small to medium businesses have considered suburban options, and that’s grown demand levels.
 “This has also had a positive effect on the rental environment, growing occupation costs, which has resulted in owners holding their assets.’
Mr Vines said the Liverpool office market consisted of more than 277,000sq m, across 120 buildings.
“Of these, 57 properties are identified as low-grade quasi office/retail premises less than 1,000sq m, those more traditional offerings over 1,000sq m represent 243,000sq m,” he said.
“A-grade stock represents 28.65 per cent of this total market across five larger, modern facilities within the core CBD location,” he concluded.
Ray White head of research, Vanessa Rader, said the total occupancy level of the Liverpool CBD office market was high compared to other non-traditional suburban markets.
 “Currently at 7.89 per cent, this market has enjoyed high occupancy due to significant local demand and growing interest in Liverpool as a CBD location,” Ms Rader said.
Ms Rader said when the rental levels of office product across Western Sydney were considered, the strong values achieved in Parramatta CBD were highlighted, and that showed the issue of affordability for many small and local businesses.
“As the Sydney CBD rents exceed $1,200psqm gross on an average basis, many larger occupiers have sought the affordable, yet quality, modern offerings in the Parramatta CBD, resulting in strong increases over the past five years,” she said.
Extensive investment in public transport and infrastructure over the last decade has allowed the Western-Sydney region to enjoy continuous economic and population growth.
 
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Robust growth in tightly-held Liverpool CBD office market

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Nippon Express has committed to a 19,000 sqm purpose-built distribution centre at Boundary Estate in Laverton North, Melbourne. 
This will be a consolidation of Nippon Express’ existing sites at Tullamarine and Truganina and will accommodate forecast growth in the logistics consulting company’s operations over the coming years.
Nippon Express’ seven-year commitment to the new distribution centre was facilitated through Colliers International.
<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/2019/11/11/Nippon_cam3_20190729a.jpg" alt="">
Colliers International Directors Hugh Gilbert and David Follacchio brokered the complex transaction, which involved the surrender of two existing leases, negotiation of the new lease as well as securing a sub-lease for Nippon Express while the new facility is being constructed.   
The new prime-grade distribution centre will be fully drive around with 13.7 m internal clearance height and a 30 m super awning. 
Nippon Express’ new Boundary Estate facility is due for completion in May 2020.
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Nippon Express commit to $30 million distribution centre in Melbourne

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Three of the 20 available lots in Brisbane's Waratah Industry Park at Acacia Ridge were sold off the plan.
The deals were negotiated by Knight Frank agents Lachlan Hateley and David Knox and Raine and Horne agents Nick Comino and Joseph Grasso.
More than $2.5 million in land has already been sold off the plan in a subdivision providing the last remaining small industrial lots in Brisbane’s core south precinct to the market.
The three smaller lots, two of which were sized at 2,500 sqm and one of which was around 3,000 sqm, sold for prices ranging between $325 and $350 per square metre, with the combined value of the sale totalling more than $2.5 million.
One lot was purchased by an owner-occupier, with developers behind the other two purchases.
The estate has been developed by Warapar Resources Pty Ltd with delivery of the project managed by Mossport Project Management.
The remaining lots range in size from around 2,100 sqm up to around 47,370 sqm, but most are 5000 sqm or smaller.
The total sales value of these remaining lots is more than $30 million.
Mr Hateley said it was expected there would be strong demand for the remaining land in the subdivision - located in the heart of Acacia Ridge at Loam Street, Competition Street and Research Street - now the titles had been released to the market.
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Three industrial lots in Brisbane's south sold OTP

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A new 200-room hotel has been announced for the Melbourne suburb of Ringwood.
Marriott International announced the project, which will become part of company’s signature AC hotel chain.
“We are thrilled to be Sunstone Projects’ partner of choice for their first hotel development, under our distinctive AC Hotels by Marriott brand,” said Richard Crawford, Senior Director of Hotel Development, Australia, New Zealand and Pacific, Marriott International.
“The AC Hotels by Marriott brand is renowned globally for its refined approach to design and its European-inspired touches, and we know it will be an exciting addition to the East End development and Ringwood area.”   The complex will house 200 guest rooms (including five suites), casual all-day-dining, a bar, and an indoor heated pool and gym.
The venue will span a total of 354 square metres.
The hotel is projected to be completed, and opened, in 2024.
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New AC Hotel announced for Ringwood in 2024

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The new transport projects governments are constantly announcing are expensive. In the recent New South Wales and Victorian elections, the returned state governments’ transport infrastructure promises added up to A$165 billion.
What’s mostly missing from the promised transport solutions is smart technology that provides higher benefits at a fraction of the cost – when retrofitting existing roads in particular. The benefit-to-cost ratio can be more than a dozen times greater than for a new road.
Clearly, infrastructure spending helps to drive the economy. These projects also deliver benefits to the community, including increased road safety, shorter travel times and fewer delays.
The economic merit of these projects is usually captured using a benefit-to-cost ratio (BCR). For example, the BCR of the <a href="https://www.theage.com.au/politics/victoria/big-projects-bigger-bills-massive-construction-boom-comes-at-a-cost-20190610-p51w5d" target="_blank">A$15.8 billion</a> <a href="https://bigbuild.vic.gov.au/projects/north-east-link" target="_blank">North East Link</a> road project in Melbourne is estimated to be <a href="https://www.theage.com.au/national/victoria/north-east-link-at-risk-of-becoming-financial-disaster-economist-20190726-p52b6a" target="_blank">1.25</a> – for every A$1 invested, A$1.25 is returned in benefits to the economy and community. For the Melbourne Metro rail tunnel, a best-case <a href="https://metrotunnel.vic.gov.au/about-the-project/faq" target="_blank">BCR of 3.3</a> has been reported.
But are we getting good value for money? Could cheaper alternatives deliver more benefits?
<h2>Technology offers smarter, cheaper solutions</h2>
Technology offers transport solutions that provide higher benefits at a fraction of the cost of building new infrastructure. Collectively known as <a href="https://www.youtube.com/watch?v=XOMamTXK5T8" target="_blank">intelligent transport systems</a>, these are widely recognised today as better answers for smart transport outcomes.
When <a href="https://www.mckinsey.com/industries/capital-projects-and-infrastructure/our-insights/infrastructure-productivity" target="_blank">comparing</a> different “congestion-busting” options, “building more roads” provides, on average, a BCR of 3.0. This is dwarfed by the much higher BCR values of tech solutions.
<a href="https://images.theconversation.com/files/300779/original/file-20191107-10952-17um5x0.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/300779/original/file-20191107-10952-17um5x0.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://books.google.com.au/books/about/Low_Carbon_Mobility_for_Future_Cities?id=g8NIDgAAQBAJ&amp;source=kp_book_description&amp;redir_esc=y" target="_blank">Source: Low Carbon Mobility for Future Cities: Principles and Applications (Dia, H. ed, 2017), adapted from Infrastructure Productivity: how to save $1 trillion a year (McKinsey, 2013)</a>, Author provided
<a href="https://www.fhwa.dot.gov/innovation/everydaycounts/edc-1/asct.cfm" target="_blank">Adaptive traffic signal control</a> allows <a href="https://youtu.be/lZtOgqbNMVE" target="_blank">traffic signals</a> to change based on actual traffic demand. This yields, on average, a BCR of 40.
Traffic signals along a route can be coordinated to create “<a href="https://youtu.be/PQ-HBC6QGHo?t=12" target="_blank">green waves</a>” for platoons of vehicles to travel without stopping. These solutions are effective for congested cities that experience rapid traffic growth and changing traffic patterns.
<a href="https://www.itsinternational.com/sections/nafta/features/integrated-corridor-management-to-enhance-travel-efficiency/" target="_blank">Corridor management systems</a> use technology to control networks of motorways and urban roads. The average BCR is 24.
On <a href="https://www.vicroads.vic.gov.au/traffic-and-road-use/traffic-management/managed-motorways" target="_blank">managed motorways</a>, <a href="https://www.vicroads.vic.gov.au/traffic-and-road-use/traffic-management/managed-motorways/coordinated-ramp-signals" target="_blank">ramp signals</a>, <a href="https://www.youtube.com/watch?v=4aUyMJwZ8_s" target="_blank">variable speed limit signs</a> and <a href="https://www.vicroads.vic.gov.au/traffic-and-road-use/traffic-management/managed-motorways/traveller-information-for-motorists" target="_blank">traveller information systems</a> are <a href="https://youtu.be/iFL2CZfJZD8" target="_blank">proven tools</a> to respond in real time to changing traffic conditions. In <a href="https://www.transmax.com.au/wp-content/uploads/2018/01/Case-Study_Smart-Motorways-.pdf" target="_blank">one case</a>, a managed motorway reduced travel times by 42% and accidents by 30%.
<a href="https://www.vicroads.vic.gov.au/traffic-and-road-use/traffic-management/managed-motorways/lane-and-speed-management-for-incidents" target="_blank">Traffic incident management</a>, which has a BCR of 21, includes technologies that aid quick detection and removal of crashes. They also detect other incidents such as broken-down vehicles or spilled loads that reduce road capacity. The systems rely on smart <a href="https://www.sciencedirect.com/science/article/pii/S0968090X97000168" target="_blank">software</a> that analyses sensor data in real time.
<a href="http://ntimc.transportation.org/Pages/NTIMCPublicationsandProducts.aspx" target="_blank">Benefits</a> include a 40% reduction in time to detect incidents. The technology also <a href="http://ntimc.transportation.org/Documents/Benefits11-07-06.pdf" target="_blank">reduces incident duration by 23%</a> and <a href="https://www.propertyobserver.com.au/https://trid.trb.org/view/481658" target="_blank">road crashes by 35%</a>.
<h2>Combining tech solutions magnifies benefits</h2>
When solutions are combined, benefits are amplified. The <a href="https://sunguide.info/annual-reports/district-six-its-annual-report/" target="_blank">Florida Department of Transportation</a> implements a transport technology program on its networks. The solutions include incident management, ramp signalling, traveller information and <a href="https://www.youtube.com/watch?v=mdVDEU5UVb4&amp;feature=youtu.be&amp;t=50" target="_blank">express lanes</a>. Reduced incident duration and traffic delays are among the key benefits.
In 2018, the benefits of this program totalled almost <a href="https://sunguide.info/reports/annual-reports/District-Six-ITS-Annual-Report/2018-District-Six-ITS-Annual-Report.pdf" target="_blank">US$3.1 billion</a> (A$4.5 billion). The costs were <a href="https://sunguide.info/reports/annual-reports/District-Six-ITS-Annual-Report/2018-District-Six-ITS-Annual-Report.pdf" target="_blank">US$70.3 million</a> (A$102 million). That’s a BCR of 43.7.
<a href="https://images.theconversation.com/files/300555/original/file-20191107-12506-jk28cf.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/300555/original/file-20191107-12506-jk28cf.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Benefit-cost ratios of transport technology solutions implemented over a decade by Florida Department of Transportation. Author provided
In the UK, the <a href="https://www.mckinsey.com/%7E/media/McKinsey/Industries/Capital%20Projects%20and%20Infrastructure/Our%20Insights/Infrastructure%20productivity/MGI%20Infrastructure_Full%20report_Jan%202013.ashx" target="_blank">cost</a> of implementing technology solutions on the <a href="https://www.roads.org.uk/motorway/m42" target="_blank">M42 motorway</a> was US$150 million (A$218 million) and took two years to complete. Widening the road to produce the same outcome would have taken 10 years and cost US$800 million (A$1.16 billion).
<h2>A shift in priorities is needed</h2>
Considerable investment in transport infrastructure is still required. It should be guided by strong business cases and aligned with community values and expectations.
However, technology is getting to the point where it’s making a serious difference in tackling the mega challenges facing our cities. Its role must be prioritised.
The benefits are compelling. Intelligent technology systems improve the use of existing assets and increase their operational life. They enhance traveller experience and reduce reliance on building new roads. And they deliver superior value for money.
But widespread deployment of these technologies is still limited. To spur change and unlock value, we must move beyond a project-by-project approach.
<h2>Learn from the best</h2>
Governments can be guided by <a href="https://itif.org/publications/2010/01/09/explaining-international-it-application-leadership-intelligent" target="_blank">leading nations</a> in this field such as South Korea, Japan and Singapore. Their citizens experience the benefits every day. Smart transport solutions improve their quality of life through easier travel, less congestion and more reliable services.
The recurring policy themes in these countries include a national vision of smart infrastructure and commitment to funding. They prioritise investment in research and trials, standards development and partnerships with industry. These are key factors in the success of their tech-driven transport solutions.
These are the policies and investments Australia should prioritise. They will modernise our transport systems in innovative ways that lift our economy and living standards.<img src="https://counter.theconversation.com/content/125718/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/hussein-dia-110689" target="_blank">Hussein Dia</a>, Professor of Future Urban Mobility, <a href="http://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/smart-tech-systems-cut-congestion-for-a-fraction-of-what-new-roads-cost-125718" target="_blank">original article</a>.
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Smart tech systems cut congestion for a fraction of what new roads cost

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EXPERT OBSERVATION
In its quarterly statement on monetary policy, released today, the Reserve Bank of Australia declared its preparedness to “ease monetary policy further if needed”.
This suggests the bank still thinks monetary policy – in this case lowering interest rates to stimulate the economy – could help “support sustainable growth in the economy, full employment and the achievement of the medium-term inflation target”.
But in the wake of the bank last month lowering the official interest rate to a record low and the current somewhat sad state of the Australian economy, <a href="https://www.afr.com/policy/economy/monetary-policy-has-run-its-race-costello-20191015-p530ys" target="_blank">many commentators</a> have speculated that <a href="https://www.rba.gov.au/monetary-policy/" target="_blank">monetary policy</a> doesn’t work any more.
Is that right?
Reserve Bank cash rate
<a href="https://images.theconversation.com/files/294952/original/file-20191001-173393-1b2cjw9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/294952/original/file-20191001-173393-1b2cjw9.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a href="https://www.rba.gov.au/statistics/cash-rate/" target="_blank">Source: RBA</a>
There are a number of variants of the “monetary policy doesn’t work” argument. The most basic is that the Reserve Bank has this year cut rates from 1.50% to 0.75% without any improvement to the Australian economy.
This is a textbook example of one of the classic logic fallacies known as “<a href="https://www.britannica.com/topic/fallacy#ref1102390" target="_blank">post hoc ergo propter hoc</a>” (from the Latin, meaning “after this, therefore because of this”).
Put simply, it assumes the rate cuts have had no effect and doesn’t account for the possibility things might have been worse had there been no cuts.
Things might have been even worse. We’ll never know.
It also ignores what might have happened if the RBA had cut sooner. Again, we can’t know for sure. It is possible, though, to make an educated guess.
When to cut rates
Had Reserve Bank governor Philip Lowe acted, say, 18 months earlier to cut rates, he would have signalled that Gross Domestic Product growth was indeed lower than desired, that the sustainable rate of unemployment was more like 4.5% than 5%, and, most importantly, that he understood the need to act decisively.
That would have sent a powerful signal.
It would also have ameliorated the huge decline in housing credit that pushed down housing prices in Sydney and Melbourne by double digits.
That, in turn, would have prevented some of the weakening in the balance sheets of the big four banks that has occurred (witness this annual general meeting season).
All of this would have pumped more liquidity into the economy and put households in a much stronger position, likely leading to stronger consumer spending than we have seen.
Bank pass through
One gripe both the Reserve Bank governor Philip Lowe and federal treasurer Josh Frydenberg have had with the banks is their <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-10-14/josh-frydenberg-asks-accc-to-investigate-banking-sector/11598614" target="_blank">failure to fully pass through the RBA cuts</a>.
<a href="https://theconversation.com/four-questions-about-mortgages-the-accc-inquiry-should-put-to-the-big-four-banks-125224" target="_blank">It is true there is a problem</a> with banks not being able to cut deposit rates below zero, and as a result having less scope to cut mortgage rates, which are majority funded from deposits.
But there are, of course, other ways monetary policy can work. The leading example is quantitative easing (QE).
This is where the central bank pushes down long-term interest rates by buying government and corporate bonds. At the same time this expands the money supply, thereby adding some upward inflationary pressure.
There is <a href="https://theconversation.com/below-zero-is-reverse-how-the-reserve-bank-would-make-quantitative-easing-work-118843" target="_blank">little reason</a> to think such measures wouldn’t work.
The power of free money
Perhaps paradoxically, the closer interest rates get to zero the more powerful those rates may end up being.
To put it bluntly, if someone shoves a pile of money into your hand and asks almost nothing in return, you’re likely to use it. In fact, you would be pretty silly not to.
Suppose your mortgage rate really goes to zero – as <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-09-13/european-central-bank-ecb-cut-rates-negative-record-low/11508704" target="_blank">has happened in Europe</a>.
You might decide to redraw that and spend the money on a home renovation or some other productive purpose. Or you might decide to buy a more expensive house.
Such spending provides an economic boost.
The effect is all the more pronounced if people expect interest rates to be low for a long period of time. Aggressive cutting coupled with quantitative easing – which lowers long-term rates – signal just that.
But not only monetary policy
Just because monetary policy still has some effect at near-zero rates doesn’t mean we should pin all of our economic hopes to it.
A near consensus of economists have argued repeatedly for the use of more aggressive fiscal policy – including more infrastructure spending and more tax cuts.
Indeed, Philip Lowe has raised eyebrows by <a href="https://www.rba.gov.au/speeches/2019/sp-gov-2019-08-09" target="_blank">speaking so forthrightly</a> on this issue. That doesn’t make him wrong, though.
There is little doubt the Reserve Bank should have acted much earlier to cut official interest rates. There is also a very good chance it will need to begin to use other measures such as quantitative easing in the relatively near future.
All of that says the Australian economy, like most advanced economies around the world, is in bad shape.
But it doesn’t mean monetary policy has completely run out of puff.<img src="https://counter.theconversation.com/content/126579/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a>, Professor of Economics, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/vital-signs-does-monetary-policy-work-any-more-126579" target="_blank">original article</a>.
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rh-YsoTT2xMuQ

Does monetary policy work any more?

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In the past, when you needed chemotherapy or intravenous (in-the-vein) treatments such as antibiotics or hydration, you needed to be admitted to hospital.
These days, it’s possible to have such treatments in the comfort of your home, with nursing or other clinical supports.
Public hospital-in-the-home and other hospital-substitute programs are burgeoning in the public sector, including in <a href="https://www.mja.com.au/system/files/issues/193_10_151110/mon10237_fm.pdf" target="_blank">Victoria</a>, <a href="https://www.silverchain.org.au/wa/" target="_blank">Western Australia</a> and <a href="https://www.health.nsw.gov.au/Performance/Pages/HITH.aspx" target="_blank">New South Wales</a>. These programs now provide the equivalent of hundreds of hospital beds.
Having treatment at home is more convenient for patients, reduces the demand on hospitals, and <a href="https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD007491.pub2/abstract" target="_blank">cuts costs for the health system</a>.
But if you have private health insurance and want to access these services via a private hospital, it’s often not possible. This needs to change.
<h2>What’s the problem?</h2>
Private health insurers are tightly regulated. If you have a top “gold” package, for example, the insurer must pay for all hospital services that attract a government Medicare Benefits Schedule (MBS) payment, other than cosmetic surgery.
But insurers are currently <a href="https://www.health.gov.au/health-topics/private-health-insurance/about-private-health-insurance/how-does-private-health-insurance-work" target="_blank">not allowed to cover</a> care provided outside of hospitals, except in very limited circumstances.
Insurers are allowed to cover eligible home-based programs developed by private hospitals. But they get to decide on a case-by-case basis whether to cover these programs. And each insurer makes a separate decision for each program.
This means private hospitals must negotiate with each private health insurer for each separate program, for each contract period. This makes it almost impossible for private hospitals to develop sustainable business cases for their programs.
The upshot is patients often miss out on the convenience of having hospital-type services in their home, and instead may face prolonged hospital stays.
The red tape needs to be untangled to make it easier for private hospitals and doctors to run these programs and for insurers to pay for them.
<h2>What kind of care can you get at home?</h2>
Few hospital-type services are delivered at home under the current system for privately insured patients: they account for about <a href="https://www.apra.gov.au/quarterly-private-health-insurance-statistics" target="_blank">4% of hospital treatments paid in 2018-19</a>.
<a href="https://www.cabrini.com.au/patients-and-families/services/directory/hospital-in-the-home" target="_blank">Common hospital-type treatments</a> in the home include IV therapy and wound care.
A number of insurers are conducting pilot programs for out-of-hospital rehabilitation after strokes, <a href="https://www.medibank.com.au/livebetter/my-medibank/using-your-cover/rehab-in-the-home/" target="_blank">joint replacements</a> or an accident; chemotherapy; kidney dialysis; and <a href="https://media.bupa.com.au/palliative-care-pilot-recognised/" target="_blank">palliative care</a>, so people can die more comfortably in their own homes.
Untangling red tape would also allow private hospitals to offer more “<a href="https://www.bmj.com/content/358/bmj.j3702" target="_blank">prehabilitation</a>” programs to prepare people for elective surgery, and to offer <a href="https://www.mja.com.au/journal/2018/209/5/predictors-inpatient-rehabilitation-after-total-knee-replacement-analysis" target="_blank">rehabilitation programs in people’s homes</a> after surgery.
Theoretically, hospital-substitute programs at home could expand to other treatment areas such as obstetrics to have your baby at home. Or for <a href="https://www1.health.gov.au/internet/main/publishing.nsf/Content/05EB674588C31EB7CA257E28001F1BBD/%24File/Guidelines%20for%20Determining%20Benefits%202015%20Edition-Checked.pdf" target="_blank">mental health</a> treatment, which may be more efficiently provided outside hospital.
But legislative restrictions (designed to stop insurers covering general practice) have limited the expansion of these programs.
<h2>How should the system work?</h2>
Regulation should support people’s access to the most efficient form of care. And private hospitals should have more certainty about how they’ll be reimbursed when they invest in alternatives to hospital inpatient care.
Rather than each insurer deciding whether they should fund good programs, the independent body which assesses and approves the public-sector equivalent of home-based care – the <a href="https://www.ihpa.gov.au/" target="_blank">Independent Hospital Pricing Authority</a> – should do the same for the private sector.
If a program has been approved by the authority, then private health insurers should be required to pay for it.
Specialist doctors, such as oncologists, should also be able to establish hospital substitute programs and have them approved for funding by private health insurers.
All of this is about improving quality and access to care, while at the same time reducing costs. It should be easier for private health insurers to pay for better alternatives to hospital care, where they can deliver the same treatment with the same or better outcomes, <a href="https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD007491.pub2/abstract" target="_blank">but at a lower cost</a>.
It is also about providing good alternatives to private hospital care, increasing competition in the health system, and reducing the number of unnecessary hospital admissions.
There are big opportunities for system-wide efficiencies in the private sector by shifting care from inpatient to outpatient settings – particularly for rehabilitation, psychiatric care, <a href="https://www.asrs.org/patients/retinal-diseases/33/intravitreal-injections" target="_blank">eye injections</a> for retinal conditions, and outpatient <a href="https://www.veinhealth.com.au/ambulatory-phlebectomy/" target="_blank">vein surgery</a>.
The public sector has already expanded its alternatives to hospital inpatient care. It’s time for the private system to do the same.
<a href="https://theconversation.com/profiles/stephen-duckett-10730" target="_blank">Stephen Duckett</a>, Director, Health Program, <a href="http://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/private-health-insurers-should-start-paying-for-hospital-type-care-at-home-126345" target="_blank">original article</a>.
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Private health insurers should start paying for hospital-type care at home

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The National Dust Disease Taskforce is preparing to read submissions next week on how best to handle the resurgence of the fatal lung disease silicosis. This can develop after breathing in silica dust when cutting artificial stone — also known as engineered, composite or manufactured stone — the type used for kitchen benchtops.
But this is not the first time we’ve been alerted to the long-term effects of exposure to hazardous dust. Think asbestos.
So what lessons can Australia learn from tackling asbestos to manage this latest preventable occupational hazard?
We’ve known about hazardous dust at work for centuries
Centuries ago, we recognised dust in mines badly damaged workers’ lungs. In 1713, Italian physician Bernardino Ramazzini <a href="https://www.ajconline.org/article/0002-9149(59)90174-2/pdf" target="_blank">wrote</a> how miners’ bodies:
[…] are badly affected, the lungs especially since they take in with the air mineral spirits.
<a href="https://onlinelibrary.wiley.com/doi/full/10.1002/ajim.22528" target="_blank">More evidence</a> led to a 1930 conference in South Africa agreeing the lung disease silicosis was caused by silica dust. A few years later, the International Labour Organisation included silicosis in a list of diseases workers could be compensated for.
Control measures to reduce the risk of silicosis were well-recognised even in the mid-1930s; <a href="https://www.propertyobserver.com.au/https://www.amazon.com/Hawks-Nest-Incident-Americas-Industrial/dp/0300035225" target="_blank">lawsuits were filed</a> against the Union Carbide company for not protecting construction workers.
At that time, breathing protection was fairly basic. But in the decades since then, <a href="https://www.safeworkaustralia.gov.au/silica" target="_blank">we established</a> that any activity generating silica dust (such as cutting, blasting or grinding concrete or rock) needed water spray systems, extraction fans and respirators.
The dangers of cutting engineered stone
So how, in a country like Australia, do we suddenly see young workers dying of this completely preventable disease?
The cases seem to be arising from cutting artificial stone. This can contain up to 95% silica, <a href="https://www.worksafe.qld.gov.au/injury-prevention-safety/alerts/whsq/2018/prevent-exposure-to-silica-for-engineered-stone-benchtop-workers" target="_blank">compared with</a> less than 40% silica in natural stone.
Cutting artificial stone has emerged as a major hazard. <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-09-16/silicosis-surge-prompts-call-for-ban-on-engineered-stone-product/11516138" target="_blank">The ABC reports</a> there have been 260 cases of silicosis in Australia, mostly in Queensland.
And there are likely to be more cases developing. <a href="https://www.commerce.wa.gov.au/announcements/spotlight-silica-proactive-inspection-program" target="_blank">Regulators’</a> <a href="https://www.finance.nsw.gov.au/about-us/media-releases/nation-leading-program-fight-silicosis-0" target="_blank">responses</a> — proactively inspecting workplaces to see if they comply with safe work practices and issuing prohibition notices and fines to individual workplaces if not — are very welcome.
But these responses come too late for those hundreds of young workers who have lost their health, some of whom may die without a lung transplant.
What can we learn from asbestos?
We have been here before. Asbestos mining and manufacturing and the importation of asbestos products into Australia started in the 1880s. Over the next century, it developed into a major industry, peaking in the decades after the second world war.
Over the same time, medical knowledge about the diseases caused by asbestos was growing. The first recorded case of asbestosis (a progressive lung disease) was <a href="https://www.propertyobserver.com.au/https://catalog.hathitrust.org/Record/100760626" target="_blank">described in London in 1906</a> (although, reports of ill health in asbestos workers had been reported <a href="https://www.propertyobserver.com.au/https://catalog.hathitrust.org/Record/002130771" target="_blank">from as early as 1899</a>).
In 1928 the Journal of the American Medical Association <a href="https://www.propertyobserver.com.au/https://jamanetwork.com/journals/jama/article-abstract/253232" target="_blank">published an editorial</a> on asbestosis. And, in Australia from 1945, standards for exposure to asbestos <a href="https://publishing.monash.edu/books/aa-9781925835618" target="_blank">were introduced</a> as controlling dust levels was thought the best way to prevent disease.
If Australia had stopped the use of asbestos in 1928, the ill health and death associated with asbestos would not be at levels we’ve seen since.
Instead, <a href="https://www.safeworkaustralia.gov.au/system/files/documents/1702/literaturereview_airborneasbestosfibres_2008_pdf.pdf" target="_blank">Australia only stopped using</a> blue asbestos (the most carcinogenic form) in the late 1960s, brown asbestos (the next most carcinogenic) in the 1980s, and all asbestos in 2003.
By 2020, there will have been an estimated <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/ajim.10047" target="_blank">18,000 cases of mesothelioma</a>, <a href="https://www.nature.com/articles/bjc2011563" target="_blank">108,000 cases of lung cancer</a> and <a href="https://www.safeworkaustralia.gov.au/doc/asbestos-related-disease-indicators-2014" target="_blank">an unknown</a> but substantial number of cases of asbestosis in Australia.
How best to protect workers?
The standard response to the silicosis epidemic is that workers should use control measures and personal protection. However, there is <a href="https://www.propertyobserver.com.au/https://academic.oup.com/annweh/article/59/1/122/2464381" target="_blank">increasing</a> <a href="https://oeh.tandfonline.com/doi/abs/10.1080/15459624.2013.789706" target="_blank">evidence</a> dust control measures do not reduce the levels of silica to non-hazardous levels.
Many companies also use a mixture of dry and wet cutting, particularly when installing the products. As with asbestos, there simply is no way to safely use this material.
We need to go back to the basics of occupational health — <a href="https://en.wikipedia.org/wiki/Hierarchy_of_hazard_controls" target="_blank">the hierarchy of control</a>. This means, if there is a hazard, we first see if we can eliminate it by banning the dangerous product.
This basic principle, taught to all occupational health and safety professionals, seems to have been forgotten for silica. For example, SafeWork Australia does not mention elimination in its online information on controlling <a href="https://www.safeworkaustralia.gov.au/silica">silica</a>, although it does mention substitution with products containing lower levels of silica.
The <a href="https://www.breathefreelyaustralia.org.au/" target="_blank">Breathe Freely Australia</a> public health campaign, <a href="https://www.breathefreelyaustralia.org.au/wp-content/uploads/2019/10/bf-cmt-Hiearchy-of-Control.pdf" target="_blank">notes</a> elimination:
is the preferred method of control as it completely eliminates the hazard, but unfortunately it is not often feasible.
Yes, a ban is feasible
We argue it is feasible to ban artificial stone, which is not made in Australia but imported. There are many alternatives, such as natural stone, or <a href="https://www.bettastone.com.au/" target="_blank">Betta Stone</a> made from recycled glass.
The National Dust Disease Taskforce is <a href="https://consultations.health.gov.au/ohp-regulatory-policy-branch/national-dust-disease-taskforce/" target="_blank">taking submissions</a> until November 11, 2019.
We suggest:
1. A total ban on importing, making and using engineered stone with a crystalline silica content of more than 80%
2. Immediate regulation (in every jurisdiction) banning dry cutting, grinding or polishing of all artificial stone
3. A reduction of the workplace exposure standard for respiratory crystalline silica to half current levels by January 2020 (from 0.10mg/m³ to 0.05mg/m³). Disappointingly, a recent SafeWork Australia meeting rejected the opportunity to reduce the level to 0.02mg/m³.
It took 70 years for Australia to ban all forms of asbestos. We need to learn from that disaster and immediately ban artificial stone. We just can’t continue to let young Australian workers die just so we can have cheap, fashionable kitchens.<img src="https://counter.theconversation.com/content/126489/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/lin-fritschi-7113" target="_blank">Lin Fritschi</a>, Professor of Epidemiology, <a href="http://theconversation.com/institutions/curtin-university-873" target="_blank">Curtin University</a> and <a href="https://theconversation.com/profiles/alison-reid-344386" target="_blank">Alison Reid</a>, Associate Professor, Epidemiology and Biostatistics, <a href="http://theconversation.com/institutions/curtin-university-873" target="_blank">Curtin University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/engineered-stone-benchtops-are-killing-our-tradies-heres-why-a-bans-the-only-answer-126489" target="_blank">original article</a>.
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