Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

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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It's hot, I'm sweating and in the middle of cutting a very good deal. 
This time it's not with a vendor or real estate agent  - I'm not buying a development site - but the negotiation is fierce and taking place with a Thai business woman who owns the stall where I'm buying a much wanted ornament.
I'm on holiday in Thailand with the kids and a trip to the local markets has reminded me of how important it is to negotiate in the correct way to get the best deal. I'm also trying to train up my sons in the practice of negotiation. 
Here everything is up for negotiation. I'm using my proven formula that works not only when I am shopping in Thailand but  also when I'm making offers on development sites and negotiating with builder's, consultants and tradespeople. 
I'd set my sights on a pair of wooden, silver plated elephant ornaments (I know, customs will have a field day with these!).
I'd shopped around and knew what I wanted to pay (completed my due diligence).  I'd asked a few questions about how her day was, what her name is and if this may be her first 'morning' sale. The last question is key as if so, it will bring her luck for the rest of the day (so I'd gathered intelligence and established a relationship). 
Rather than make an outlandishly low offer which I know would insult the Thai sales lady, I politely make my offer with a wide smile on my face but with serious eyes. The offer is a bit under half of what she's quoted. I back it up with a few good reasons. "I saw this one for sale down there for less" or "this one is not as big as the one they are selling there".  After some fun interchanges and much tapping of numbers on an old calculator back and forth, we came to a mutually suitable price and everyone was happy. I have my silver plated elephants and she has a good price. 
I use similar techniques when making offers on properties. At Property Bloom we study the market to establish what the property should be worth, we look at its last sale price and find several comparable property sales to back up our offer.  
Understanding the unique benefits of a property will help you put a value on it. For us, the value lies mostly in the land, it's location and what's under it, not what's on top of it. 
Property Bloom has established relationships with agents and they know our clients are serious buyers that won't muck them around. Our clients have their finance preapprovals in place and can move quickly to secure a property if the numbers stack up and we know it will make a great development site. We'll ask questions about why the property is selling and what the vendor expectations are.  
But there in one major negotiation tactic that always comes into play. It's making sure there is something in the deal for everyone. 
If the vendor is making something from selling and our client is set to make something much more from developing, and if there's a bit for the agent or the person who has referred us, then we can cut a good deal. 
Usually these types of negotiations involve much less  sweat than the ones done in Thailand.
As I start to leave the stall hugging my silver plated elephants, I hear the Thai lady sing 'kob koon Ka' (thank you) as she waves me good bye and adds,' you come back soon?' confirming that she'd like to do more business with me. The same goes for our property deals, we'll always be back for more if the numbers stack up and there's something in it for everyone. 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>. 
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Don't sweat the big deal: Jo Chivers

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A preliminary auction clearance rate of 71.3% was recorded across the combined capital cities this week, having increased from 69.9% last week, the lowest clearance rate since the end of March. 
Auction volumes were high, with a total of 2,820 auctions held over the week, up from 2,565 over the previous week. In comparison, at the same time last year, auction volumes were lower due to the AFL Grand Final in Melbourne; meaning only 1,369 auctions took place across the combined capital cities.
<a href="/images/2015/09/28/20150928-capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-capital-city.jpg" alt="" width="692" height="523">
The preliminary auction clearance rate across Melbourne was 73.3% this week, down from the previous week’s final result of 73.7%, making this week the fourth lowest clearance rate for the year. This week, Melbourne was host to 1,197 auctions, higher than the 1,127 held last week and significantly higher than a year ago when there were only 112 Melbourne auctions held over the week. Across Melbourne’s individual sub-regions, the strongest preliminary clearance rate this week was across the Outer East region at 81.8%, followed by the Inner South region where the preliminary clearance rate was 80%.
<a href="/images/2015/09/28/20150928-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-Melbourne.jpg" alt="" width="674" height="448">
 
There were 1,193 Sydney homes taken to auction this week and a preliminary clearance rate of 74.2% across 974 results. Over the previous week, Sydney recorded the lowest final auction clearance rate for the year (70.7%) and 1,041 auctions were held across the city. At the same time last year, 76.9% of the 933 homes taken to auction recorded a successful result. This week, the strongest sub-region for clearance rates across Sydney was the Eastern Suburbs, with 89.8% of the reported results clearing at auction.
<a href="/images/2015/09/28/20150928-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-Sydney.jpg" alt="" width="653" height="439">
 
Brisbane’s preliminary clearance rate was 58.9%this week, compared to 50% last week and 48.9%at the same time last year. Across Brisbane, a total of 199 auctions were held this week which is higher than both last week (143) and last year (179). Across the Gold Coast, 54.3% of the reported auctions have sold.
<a href="/images/2015/09/28/20150928-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-Brisbane.jpg" alt="" width="794" height="532">
 
Adelaide hosted 127 auctions this week and across the 80 reported results, CoreLogic RP Data’s preliminary auction clearance rate is 68.8%. Last week, Adelaide’s clearance rate was 71.4% across the 99 auctions held, while at the same time last year 65.6% of the 73 homes taken to auction were sold.
<a href="/images/2015/09/28/20150928-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/28/20150928-Adelaide.jpg" alt="" width="651" height="440">
 
For Perth, the number of homes taken to auction this week was 25, less than last week (31) and higher than last year (6). Meanwhile, Perth’s clearance rate of 36.4% this week was lower than last week (38.5%) and higher than last year (33.3%).
Across Canberra 58 homes were taken to auction this week and the preliminary clearance rate across 36 reported auctions was 50%.
There were 21 auctions across Tasmania this week, with 3 successful results out of the 18 reported.
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Preliminary clearance rate bouncing back above 70%: CoreLogic RP Data's Shana Miller

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As they do every year, new listings increased over the first month of spring, with further additions of stock to the market expected to ramp up until the end of year slow-down in December.
In addition to the number of listings being added to the market CoreLogic RP Data’s lead listings indicator is also showing a 1.6% month-on-month change (seasonally adjusted), with Tasmania (+5.2%) and Victoria (3.4%) showing the most activity of listings being prepared for sale.
In terms of listing stock, the largest proportionate increases this month relative to last month have been observed in Brisbane, where the number of residential properties added to the market over the four weeks ending 27 September was 12.9% higher than the four week period a month earlier. Following Brisbane was Hobart (12.5% higher) and Adelaide (11.0% higher).
Despite the increase in new listings, total stock levels remain just 1.2 per cent higher relative to one year ago across the combined capital cities, while nationally; total listings are -0.6 per cent lower. As at 27 September, there were 234,094 residential properties available for sale across Australia, while one year ago, there were 235,399.
When compared to last year, across the capital cities, total listings are higher in Perth (+20.7%), Darwin (+12.3%) and for the first time this year, Sydney (+4.7%). In Sydney, one of the reasons the total stock levels are now higher than one year ago is likely due to the increase in stock being added to the market. New listings across the city are 16 per cent higher than one year ago, to put this into perspective, over the comparable 28 day period one year ago, 7,431 listings were newly added to the market, compared to 8,617 this year.
<a href="/images/2015/09/30/Table.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/30/Table.jpg" alt="" width="886" height="199">
<a href="/images/2015/09/30/Capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/30/Capital-city.jpg" alt="" width="731" height="276">
Across the individual states and territories, there are more listings than one year ago in Western Australia, Northern Territory (both +12.9%) and to a lesser degree, South Australia (+2.2%), while across these three regions, the number of new listings added to the market over the past four weeks is lower than one year ago. In all other states and territories, total listings are currently lower than they were relative to last year.
<a href="/images/2015/09/30/National.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/30/National.jpg" alt="">
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First month of spring returns lift in new listings: CoreLogic RP Data's Shana Miller

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If you listen to people who see real estate through generalised numbers, you would never invest anywhere in regional Australia.
There is no shortage of commentators ready to quote average numbers that, at face value, downgrade regional cities and towns as places unworthy of investor attention.
If the average capital growth for regional Australia is less than the average for the capital cities, it’s taken as evidence that the regions are inferior. That blanket assessment covers all regional locations.
The commentators should know better (some of them do, I’m sure, but don’t care about accuracy or balance) and so should the media.
The average for regional Australia includes every depressed or drought-affected country town on the continent. It includes all those locations impacted by the decline in the resources sector or by the growing use of workers camps to accommodate fly-in-fly-out workers, which has created price decline in specific areas. 
The generalised figure is dragged down by all those negative situations and disguises the locations which don’t fit the apparent norm. Many regional cities are above average and some are exceptional.
Locations like Toowoomba in Queensland, where price growth has been in double digits over the past 2-3 years, or Gosford in New South Wales, where many suburbs have delivered growth higher than Sydney’s.
Investors need to consider the advantages of focusing on regional Australia, which can present a win-win-win situation: lower entry prices, better rental yields and great prospects for capital growth, if they do their research and identify the best places to buy.
Then they need to consider the fundamentals of what makes a good destination for their investment dollars: a large and growing population, a strategic location, economic diversity, good infrastructure, services that attract residents from the wider area, good transport links to key locations like the nearest capital city, affordable prices, low vacancy rates and strong rental yields.
Across the vast continent of Australia, there are many towns that simply don’t fit the criteria.
That’s irrelevant. What matters are the ones that do.
Yesterday Prime Minister (for now, anyway) Malcolm Turnbull made an announcement that’s pertinent to this discussion. He announced a contract for the construction of army vehicles worth over a billion dollars and one that will secure many hundreds of jobs in the Victorian regional city of Bendigo. 
Thales Australia, which will manufacture the new armoured personnel carriers, is one of many major businesses that are based in Bendigo but operate nationally. 
Bendigo is one of those regional cities that tick most of the investment boxes. It’s strong, it’s growing, there’s big spending on new infrastructure, it has great economic diversity and it now has faster connections to Melbourne through the $5 billion regional rail link. 
It offers the affordable prices and attractive rental yields that you usually cannot find in Melbourne and other major capital cities.
But if you looked only at the sweeping generalisations of shallow commentators, you would never consider it.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
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Advantages of regional property investment: Terry Ryder

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The Australian Bureau of Statistics (ABS) released housing finance data for August 2015 earlier this week.  
The data broadly showed a further pick-up in owner occupier lending and a slowing in investor lending. It is important to reconcile this against numerous reports that many mortgagees have been quick to advise their lenders that their properties which were formerly investment properties are now in fact owner occupied. 
This is due to the fact that most lenders are now charging a premium for investment mortgages.
<a href="/images/2015/10/09/Chart-11.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/09/Chart-11.jpg" alt="">
 
The above chart details the components of those borrowing over time. What’s immediately noticeable is that while there has been a recent surge in lending to investors, over recent months there has been a clear fall in lending to this cohort. 
While investment lending is slowing, owner occupier lending is rising however, there has been very little bounce in lending to first home buyers. For the most part the rise in owner occupier lending is being fuelled by an escalation in both refinances and borrowing for new loans to non-first home buyers. Again, it is important to note some of these figure may be being affected by re-classifications of mortgages.
<a href="/images/2015/10/09/Screen%20Shot%202015-10-09%20at%203.59.33%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/09/Screen%20Shot%202015-10-09%20at%203.59.33%20PM.png" alt="" width="785" height="305"> 
In August 2015, owner occupiers committed to $20.8 billion worth of housing finance, a 6.1% rise over the month and a 26.5% year-on-year rise.  Looking at the components of owner occupier lending there was $1.7 billion in lending for construction of dwellings, $1.2 billion in lending for purchase of new dwellings, $6.4 billion in refinances of established dwellings and $11.5 billion for purchase of other established dwellings. 
The 6.1% monthly rise in owner occupier lending was largely fuelled by a 10.4% rise in lending for purchase of established dwellings however, each component rose.  Refinances have typically been the greatest source of growth in owner occupier lending however, they recorded the slowest growth of any segment over the month.  Looking at year-on-year changes, lending for construction of dwellings rose 0.5%, lending for purchase of new dwellings rose 17.6%, refinances of established dwellings rose 26.7% and purchase of established dwellings increased by 32.6%.  
Over the coming months we will be watching closely to see whether the growth in owner occupier lending can be maintained, particularly in the face of falling population growth and no real increase in activity from first home buyers.
<a href="/images/2015/10/09/Chart-31.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/09/Chart-31.jpg" alt="">
 
Switching the focus to the investor segment, there was $13.6 billion worth of commitments to investors in August 2015. The value of lending to investors was -0.4% lower over the month but 12.0% higher year-on-year. It was also the first time in 13 months that the value of new lending (excluding refinances) was greater to owner occupiers than it was to investors.
Over the month there was $0.8 billion in lending for construction of dwellings and $12.7 billion in lending for established housing. Over the month, lending for construction of dwellings fell -22.0% while commitments for established housing rose 1.4%. Year-on-year lending for construction of new homes is -2.5% lower and lending for established homes is 13.1% higher.
The data appears to indicate that there is a change occurring in the mortgage lending market. Whereas investors and owner occupier refinances have been the primary drivers of growth lately, it seems as if this is now tilting to owner occupier new loans starting to dominate. Given that investment mortgages generally now have a higher interest rate than owner occupier mortgages, it may be playing a role in the tilt towards owner occupier lending. 
Furthermore, value growth has been strong for more than three years in Sydney and Melbourne and investors may be becoming concerned about the longevity of the boom while growth outside of these cities has been sedate. 
Once you also consider a record high pipeline of residential construction accompanied by a record low rate of rental growth and historical low yields perhaps a growing number of investors are looking towards other forms of investment they perceive as less risky at this stage in cycle. It’s still early days for the slowdown in investment lending but we, along with the RBA and APRA, will be watching closely to see whether the slowing in investment lending and the rise in owner occupier lending persists over the coming months. 
It is also going to be interesting to see what impact this has on overall demand for housing over the coming months in lights of evidence of a bit of a softening in the Sydney housing market.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.
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Owner occupier housing finance commitments take a step up: Cameron Kusher

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Soon we will be hearing more and more about the big sister of underquoting and this will be overquoting, and it bites.
Be warned, unlike the roar that politicians and our Real Estate Industry (REI) make about underquoting, this one will bite deep and hard into the pockets of REA’s and their offices.
Now that I have your attention, pour yourself a cup of coffee and read on. I will explain what overquoting entails. I will also explain the dangers it poses to both vendors and agents.
Overquoting
<ul>
<li>For most agents working in our industry, the term overquoting is mainly referred to as: buying the listing.</li>
<li>Buying the listing in turn refers to: informing the vendor that their property will sell for a lot more than what the market is demanding or dictating at the time.</li>
<li>The purpose of overquoting is: to obtain a listing under false pretense of a high sales price. Higher than the estimated values placed by other agents in the area.</li>
<li>The REA’s intention is: to eventually “condition” the vendor to accept less, as the buyers inspecting the property, offer what the market is truly dictating.</li>
</ul>
Underquoting serves the function to condition the buyers to believe they will buy the property for less, as low price guides are given by REA's. The agents on the other hand, hope that the auction frenzy will motivate them to pay more as they add competition to realistic buyers.
Underquoting, as a form of bait advertising, is a marketing process readily used in a heated property market.
The use of overquoting by the agent, is to win the listing and to have the chance of selling the property. The sales process which precedes winning the listing conditions the vendor to accept less than what the agents originally quote in their Comparative Market Analysis (CMA).
Overquoting is a form of deception used by agents, to convince vendors to sell through them and their office.
What will vendors do?
Now please pay very close attention as this is what I mean when I say overquoting will bite and bite hard.
Vendors will not sit back and take it on the chin, unlike buyers when they are deceived by bait advertising.
When vendors believe that their properties have dropped in value, as they compare the agent’s CMA to what is being offered, vendors will act and take action against the agent.
Real estate agents (REA) will soon find themselves in hot water and face litigation.
In the case of underquoting, the accumulated losses of individual’s time and money as a buyer, may total around $1000 on average. A loss, that may not necessarily warrant time and effort, to report the REA that is believed to be underquoting.
On the other hand, a perceived loss of $10's of thousands of dollars, to a vendor, will warrant a claim against the agent.
I have written about this in the past and have said; until losses justify time and effort spent by consumers, to lodge claims with the authorities, REA’s will do as they please.
However, be warned for what is to eventuate and is just around the corner.
Some REA’s will take it in their stride and heed this advice but some will also believe they are above the law and the authorities. It won’t surprise me to see the same REA’s that underquote lead the way to overquoting practices. Sadly most will again be members of the REI's.
The difference this time folks, it won’t be a toothless tiger on their case, it will be a vendor determined to be compensated.
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

Overquoting set to bite: Edwin Almeida

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Lending finance data for August 2015 was released by the Australian Bureau of Statistics (ABS). 
The latest data paired with the previously released housing finance commitments data shows that lending to investors has slowed sharply over recent months following the regulatory changes from APRA and the subsequent changes to lending policies from most mortgage lenders.
<a href="/images/2015/10/13/Chart-13.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/13/Chart-13.jpg" alt="">
The above chart shows the proportion of new lending to investors across each state and territory in August 2015.  Note that when we say new lending we exclude refinances as they are not associated with a new purchase of property.  New South Wales had the greatest proportion of new lending to investors over the month however, we have seen lending to this segment of the market slow across each state and territory.
<a href="/images/2015/10/13/Chart-22.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/13/Chart-22.jpg" alt="">
 
Mortgage lending to investors peaked in May 2015 prior to most Australian ADI’s implementing changes to lending policies relating to investment mortgages.  At that time, the proportion of new lending to investors was much higher in each state and territory than it is currently.  In each state and territory there has been a significant decline in the value of new lending to investors between May and August of this year.  Across each state and territory the magnitude of the fall in investor lending has been recorded at: -10.5% in NSW, -14.0% in Vic, -15.2% in Qld, -17.0% in SA, -10.1% in WA, -10.0% in Tas, -35.6% in NT and -23.5% in ACT.
While new lending to investors has fallen away over recent months, there has been a rise in new lending to owner occupiers across some states and territories while others have seen falls across owner occupier lending too.  Between May 2015 and August 2015 the changes in the value of new lending to owner occupiers have been recorded at: +22.1% in NSW, +16.5% in Vic, +4.2% in Qld, +4.1% in SA, -2.4% in WA, -8.3% in Tas, -8.1% in NT and -10.8% in ACT.
As investor lending is slowing in NSW and Vic, lending to owner occupiers is generally picking-up which should help offset some of the slowdown in investment loans.  Elsewhere there has been no significant increase in owner occupier lending, or owner occupier lending has fallen; given this the data release may point to ongoing weaker housing market conditions outside of the two most populous states.
It’s important to note that this data only includes mortgage lending domestically.  What is not clear is to what extent the weakness in investor demand domestically over recent months is being offset by an uptick in demand from overseas.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.
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Sharp dip in investor housing demand since May: Cameron Kusher

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Brisbane’s market has been busy recently, without delivering strong capital growth. It has in common with most of the nation’s capital cities a reluctance to join Sydney in a property boom.
It’s overdue for a period of growth because it’s been an under-achiever in the recent past. It ranks fifth among the eight state and territory capitals for long-term capital growth, well behind (in order of ranking) Perth, Melbourne, Darwin and Sydney.
Based on Domain figures for the average annual growth in median prices over the past 10 years, the top 20 suburbs in Perth all have growth rates between 9% and 10% per year. Brisbane’s top 20, bar one, are between 6% and 7% per year.
Brisbane averages have been dragged down by poor performance in the past four years. City markets took time to recover from the floods of early 2011. In the years since, Perth, Darwin, Sydney and Melbourne have all had periods of price growth ranging from solid to strong, but Brisbane has yet to join the growth party.
Parts of the Brisbane metropolitan area have out-performed, but the average citywide performance has been lukewarm.
Looking at the figures describing growth rates for the past 10 years, Brisbane currently has only one suburb with a growth rate above 7% (Hendra, which averages 7.6%). All of the other Top 20 suburbs have long-term growth rates between 6.0% and 6.9%. 
The leading precinct is Brisbane Northside – the northern suburbs of the Brisbane City Council area – which provides the top four suburbs and six of the top 10. This area is prominent in terms of capital growth rates because it led the upturn in sales activity in the city market in 2013 and 2014 – and many suburbs have recorded double-digit annual price growth in the past 12 months, lifting their long-term growth rates.
The Brisbane Northside suburbs, and indeed most of the suburbs on the Top 20 list, represent Brisbane’s middle market. The 12 most expensive suburbs in the Brisbane region have median house prices in the range from $900,000 to $1.2 million. The middle market is the next tier below that – and that’s the market that leads on capital growth rates.
All but one of the Top 20 have median prices below $900,000. Fourteen of the Top 20 have median prices in the $600,000s and $700,000s. There are currently no bottom-end suburbs on the list – only two have medians below $600,000. 
I expect a different result a year from now, as many of the cheaper markets are now rising across the Brisbane metropolitan area and are likely to experience good price growth, lifting their long-term growth rates.
Brisbane’s most expensive suburbs have been mediocre performers – only one of the 12 priciest suburbs features on the Top 20 list for capital growth rates. Only four of them have capital growth rates above 6%.
The worst performing precinct has been the Moreton Bay Regional Council area in the far north of the Greater Brisbane area. Seven of the Bottom 20 suburbs are located there. This may change in the near future, as this precinct is one of the areas with elevated sales activity, as the momentum ripples out from the neighbouring Brisbane Northside precinct.
BRISBANE TOP 20 – ANNUAL GROWTH % OVER 10 YEARS
<table style="height: 293px; width: 392px;" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="middle">
No.
</td>
<td valign="middle">
SUBURB
</td>
<td valign="middle">
MUNICIPALITY
</td>
<td valign="middle">
  MEDIAN
</td>
<td valign="middle">
GROWTH RATE %
</td>
</tr>
<tr>
<td valign="middle">
1
</td>
<td valign="middle">
Hendra
</td>
<td valign="middle">
Brisbane-North
</td>
<td valign="middle">
 $815,000
</td>
<td valign="middle">
    7.6
</td>
</tr>
<tr>
<td valign="middle">
2
</td>
<td valign="middle">
Newmarket
</td>
<td valign="middle">
Brisbane-North
</td>
<td valign="middle">
 $740,000
</td>
<td valign="middle">
    6.9
</td>
</tr>
<tr>
<td valign="middle">
3
</td>
<td valign="middle">
Gordon Park
</td>
<td valign="middle">
Brisbane-North
</td>
<td valign="middle">
 $700,000
</td>
<td valign="middle">
    6.8
</td>
</tr>
<tr>
<td valign="middle">
4
</td>
<td valign="middle">
Northgate
</td>
<td valign="middle">
Brisbane-North
</td>
<td valign="middle">
 $610,000
</td>
<td valign="middle">
    6.7
</td>
</tr>
<tr>
<td valign="middle">
5
</td>
<td valign="middle">
Paddington
</td>
<td valign="middle">
Brisbane-Inner
</td>
<td valign="middle">
 $865,000
</td>
<td valign="middle">
    6.6
</td>
</tr>
<tr>
<td valign="middle">
6
</td>
<td valign="middle">
Cannon Hill
</td>
<td valign="middle">
Brisbane-East
</td>
<td valign="middle">
 $705,000
</td>
<td valign="middle">
    6.5
</td>
</tr>
<tr>
<td valign="middle">
7
</td>
<td valign="middle">
Lutwyche
</td>
<td valign="middle">
Brisbane-North
</td>
<td valign="middle">
 $697,000
</td>
<td valign="middle">
    6.5
</td>
</tr>
<tr>
<td valign="middle">
8
</td>
<td valign="middle">
Doolandella
</td>
<td valign="middle">
Brisbane-South
</td>
<td valign="middle">
 $460,000
</td>
<td valign="middle">
    6.3
</td>
</tr>
<tr>
<td valign="middle">
9
</td>
<td valign="middle">
Gaythorne
</td>
<td valign="middle">
Brisbane-North
</td>
<td valign="middle">
 $618,000
</td>
<td valign="middle">
    6.3
</td>
</tr>
<tr>
<td valign="middle">
10
</td>
<td valign="middle">
Bardon
</td>
<td valign="middle">
Brisbane-West
</td>
<td valign="middle">
 $840,000
</td>
<td valign="middle">
    6.2
</td>
</tr>
<tr>
<td valign="middle">
11
</td>
<td valign="middle">
Fig Tree Pocket
</td>
<td valign="middle">
Brisbane-West
</td>
<td valign="middle">
 $934,000
</td>
<td valign="middle">
    6.2
</td>
</tr>
<tr>
<td valign="middle">
12
</td>
<td valign="middle">
Holland Park
</td>
<td valign="middle">
Brisbane-South
</td>
<td valign="middle">
 $619,000
</td>
<td valign="middle">
    6.2
</td>
</tr>
<tr>
<td valign="middle">
13
</td>
<td valign="middle">
Woolloongabba
</td>
<td valign="middle">
Brisbane-Inner
</td>
<td valign="middle">
 $645,000
</td>
<td valign="middle">
    6.2
</td>
</tr>
<tr>
<td valign="middle">
14
</td>
<td valign="middle">
Camp Hill
</td>
<td valign="middle">
Brisbane-South
</td>
<td valign="middle">
 $748,000
</td>
<td valign="middle">
    6.1
</td>
</tr>
<tr>
<td valign="middle">
15
</td>
<td valign="middle">
Fairfield
</td>
<td valign="middle">
Brisbane-South
</td>
<td valign="middle">
 $678,000
</td>
<td valign="middle">
    6.1
</td>
</tr>
<tr>
<td valign="middle">
16
</td>
<td valign="middle">
Upper Mt Gravatt
</td>
<td valign="middle">
Brisbane-South
</td>
<td valign="middle">
 $550,000
</td>
<td valign="middle">
    6.1
</td>
</tr>
<tr>
<td valign="middle">
17
</td>
<td valign="middle">
Albion
</td>
<td valign="middle">
Brisbane-North
</td>
<td valign="middle">
 $687,000
</td>
<td valign="middle">
    6.0
</td>
</tr>
<tr>
<td valign="middle">
18
</td>
<td valign="middle">
Eight Mile Plains
</td>
<td valign="middle">
Brisbane-South
</td>
<td valign="middle">
 $619,000
</td>
<td valign="middle">
    6.0
</td>
</tr>
<tr>
<td valign="middle">
19
</td>
<td valign="middle">
Norman Park
</td>
<td valign="middle">
Brisbane-East
</td>
<td valign="middle">
 $760,000
</td>
<td valign="middle">
    6.0
</td>
</tr>
<tr>
<td valign="middle">
20
</td>
<td valign="middle">
Seven Hills
</td>
<td valign="middle">
Brisbane-East
</td>
<td valign="middle">
 $618,000
</td>
<td valign="middle">
    6.0
</td>
</tr>
</tbody></table>
 
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
 
 
 
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Top 20 Brisbane growth suburbs of the decade: Terry Ryder

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An associate of mine recently suggested that I listen to a podcast from the USA that talked about the role of the arts in helping to both revitalise existing neighbourhoods and also helping to create and energise new ones.
At the same time the topic also explored some related issues like housing affordability and ageing in place.
All of which are common themes here and I think have particular significance to many aspects of marketing new projects and how place in-turn influences values.
While some of the material in the podcast was largely focussed on the regenerating neglected urban areas the central theme of ‘creative space making’ had lots of material that I think can be applied here. Many parts of Sydney are being developed with new apartment and mixed-use projects and among buyers there is a definite desire to live in places that have a feeling of community, a richness of local colour and activity.
LOVE OF PLACE
There’s no doubt that developers take the lead when investing into new areas, having usually worked with local councils and existing residents. Sometimes this process results in the creation of totally new neighbourhoods and new communities but often there’s an existing footprint of local character that extends well beyond just local services.
When we think about what makes people love where they live (or wish to live) then connecting with the local community is essential. It’s a topic that helps identify the appeal of different areas, creates a competitive advantage and its part of what sets demand, value and prices. It’s an important part of underpinning the investment made and I think easily overlooked when determining local demand and values.
In some established parts of any city or suburb there’s usually an existing culture that appeals to buyers and extends way beyond for example a handful of shops.
Even when we are dealing with former industrial ‘brown-field sites’ you can sometimes find nearby fragments of neighbourhood, like a pub or local café. Not to mention the social footprint of the local residents who just happen to find themselves now living close to any number of new projects and new residents.
The dynamics of every major city are now caught up in this trend and as the podcast I referred to earlier explored the how the arts, a feeling of community and the economic interests of the area are all connected. These same points also form part of the work – life balance and even when we have a buoyant market, buyers want to know that the area, the community they are investing in has solid lifestyle appeal.
WHAT MAKES PEOPLE LOVE WHERE THEY LIVE?
As the density of urban areas increases every stakeholder – councils, planners, developers, investors and above all the residents know that the sense of place deserves more attention. A strong local identity described as a sense of place does, from a marketing perspective, create a competitive advantage and that will always influence prices paid in a particular area.
It will also influence future property values, they key factors feed into why areas experience strong demand form developers and buyers, it might be intangible and not directly articulated, but I think it’s worth devoting some time to the exploring.
The mix of community, the role of how creative a place feels, the physical appearance and the economic viability of a place all feed into this interesting mix.
Another factor, that we see in many suburbs is how quickly, as developments are finished and people move to the area, that it then changes. Over time this change might morph into ‘love of place’ and thus the community gives a big tick to the quality of planning and development.
Just what makes up the substance of creative place making, the factors that all come together in a desirable neighbourhood, can I think be pinpointed into three areas. These areas include – social appeal, accessibility (user-friendliness) and the aesthetics, the built environment. In combination they all sit behind the appeal of an area and individual projects, they are the marketing foundations and all directly impact prices and buyer demand.
The podcast I mentioned at the start of this discussion was mainly concerned about the role of the arts in helping to create or energise an area and community, however in my next post I want to look further at the role of creative place making as an vigorous part of the project development and marketing mix.
To read the second part of Peter's post, click here.
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
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pchittenden-eLqUUC8TWW

Making a creative residential place Part One: Peter Chittenden

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Prior to this week, the year to date clearance rate across the combined capital cities was 76.9%, indicating that this week’s preliminary clearance rate of 77.7% is performing above this level. 
This week, there were 1,998 auctions held across Australia’s capital cities, with 1,307 results reported so far. Over the previous week, 1,827 residential auctions were held with a clearance rate of 75.4%. In comparison, at the same time last year 67.9% of the 1,705 auctions were sold, indicating the current auction conditions remain stronger than they were one year ago.
<a href="/images/2015/07/29/20150727-Capital-City.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/29/20150727-Capital-City.jpg" alt="" width="789" height="594">
 
The preliminary clearance rate across Melbourne was recorded at 76.5% this week across 638 auction results. There were 845 auctions held across the city this week, up from 759 last week when the final auction clearance rate was recorded at 76.0% and similarly, higher than at the same time last year when there were 736 Melbourne auctions with 68.5% of homes selling. This week, there were 3 sub regions which recorded a clearance rate above 80%; Outer East at 89.0%, North West at 82.5% and North East at 82.2%. The region with the highest volume of auctions this week was the Inner region (141).
<a href="/images/2015/07/29/20150727-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/29/20150727-Melbourne.jpg" alt="" style="line-height: 1.3em;"><a href="/images/2015/07/29/20150727-Melbourne.jpg" target="_blank"></a>
For Sydney, the clearance rate across the city this week increased, up to 82.7% from 79.7% last week and 75.4% at the same time last year. Across the city, 841 homes were taken to auction this week, more than last week (794) and significantly higher than one year ago, when 660 Sydney auctions were held. Since mid-August, Sydney’s auction clearance rate has been trending downwards, after the city has seen a record strong performance over the first six months of the year. Despite this, the clearance rate still remains stronger than any other capital city and there are still sub-regions across the city where the clearance rate remains above the 90 per cent mark including Ryde, Eastern Suburbs, Inner West and City and Inner South.
<a href="/images/2015/07/29/20150727-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/29/20150727-Sydney.jpg" alt="" width="988" height="671">
 
 
 
This week, Brisbane’s preliminary auction clearance rate was 66.0%, compared to 60.2% the previous week and just 44.7% last year. So far, 17 Gold Coast auction results have been reported and the clearance rate for the region is 64.7%.
 
<a href="/images/2015/07/29/20150727-Brisbane.jpg" target="_blank">Click to enlarge</a>
 <img src="/images/2015/07/29/20150727-Brisbane.jpg" alt="">
 
There were 80 Adelaide auctions this week, with a clearance rate of 60.6% across the 33 results reported so far. Last week, Adelaide’s final auction clearance rate was 64.3%, while one year ago the city saw 60.3% of homes taken to auction sell.
<a href="/images/2015/07/29/20150727-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/29/20150727-Adelaide.jpg" alt="" width="948" height="640">
Across Perth, 10 auctions have been reported so far with a clearance rate of 80.0%, compared to just 18.8% last week and 50.0% at the same time last year. Perth’s clearance rate is often subjected to highs and lows given the low volume of auctions across the city.
Canberra’s preliminary clearance rate was 80.0% this week across 25 results. Last week, 82.1% of Canberra auctions were successful, the second strongest result for the city so far this year.
So far this week, 4 Tasmanian auctions have been reported and of these reported results there has been 1 sale.
 
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