<p data-end="256" data-start="0"><a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.</p>

<p data-end="446" data-start="258">The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.</p>

<p><img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.</p>

<p>The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.</p>

<p>The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”</p>

<p data-end="626" data-start="350">Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.</p>

<p data-end="928" data-start="628">“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”</p>

<p data-end="1147" data-start="930">Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.</p>

<p data-end="1510" data-start="1149">“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”</p>

<p data-end="1510" data-start="1149"><img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" /></p>

<p>&nbsp;</p>

<p>The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.</p>

<p>Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.</p>
</section>


Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

<p style="text-align:start">The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;</p>

<p>The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.</p>

<p>The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.</p>

<p>Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.</p>

<p>The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.</p>

<p>As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.</p>

<p><img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" /></p>

<p>The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.</p>

<p>Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.</p>

<p>“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.</p>

<p>“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;</p>

<p>Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.</p>

<p>“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.</p>

<p>“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”</p>


Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


400 new homes planned for Adelaide's former West End Brewery site

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> 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.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> 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.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: 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.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>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.</em></p>


Every First Home Owner Grant for new property by state

<p>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.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>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.</p>

<h2>What is NatHERS?</h2>

<p>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;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>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.</p>

<h2>How NatHERS Ratings Work</h2>

<p>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.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> 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.</p>

<p><strong>Cost Savings:</strong> 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.</p>

<p><strong>Environmental Impact:</strong> 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.</p>

<p><strong>Improved Comfort: </strong>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.</p>

<p><strong>Market Value and Desirability:</strong> 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.</p>

<p><strong>Compliance with Building Codes:</strong> 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.</p>


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?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>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.</p>

<h3>Convenience and accessibility</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>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.</p>

<h3>Vibrant lifestyle and community</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>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.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>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.</p>

<h3>Enhanced security and maintenance</h3>

<p>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.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>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.</p>

<h3>Live-work-play balance</h3>

<p>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.</p>

<p>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.</p>


alisonwarters@gmail.com

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

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><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></p>

<h2>Who pays Stamp Duty?</h2>

<p>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.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>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.</p>

<p>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!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<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>

<p style="line-height:1.38">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.</p>


Ellen Walker

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

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


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

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<p><span>So far this week, 1,494 capital city auction results have been reported to CoreLogic RP Data, resulting in a preliminary auction clearance rate of 75.7% across the combined capital cities. </span></p>
<p><span>There were a total of 1,862 capital city auctions held this week. This week’s result indicates that clearance rates are still tracking higher than they were one year ago, when the final auction clearance rate over the week was 68.9 per cent across 1,473 auctions.</span></p>
<p><a href="/images/2015/08/03/20150803-Capital-City.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/08/03/20150803-Capital-City.jpg" alt="" width="787" height="588"></span></p>
<p> </p>
<p><span>Across </span><strong>Melbourne</strong><span>, this week’s preliminary clearance rate was recorded at 78.6 per cent, up from a recent low of 75.7 per cent last week and remaining well above the clearance rate for the city one year ago (69.0 per cent). This week, Melbourne was host to 760 auctions, significantly lower than the 918 held last week, but higher than a year ago when there were 636 Melbourne auctions held over the week. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rates, was the Outer West. So far, CoreLogic RP Data has collected 48 results for the region and the preliminary results shows 93.8 per cent of these auctions were successful.</span></p>
<p><a href="/images/2015/08/03/20150803-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/08/03/20150803-Melbourne.jpg" alt="" width="728" height="491"></span></p>
<p> </p>
<p><strong>Sydney’s</strong><span> preliminary auction clearance rate was 78.8 per cent this week, the fourth week in a row where Sydney has recorded a result below 80 per cent. Last week, Sydney’s clearance rate was 79.9 per cent, while one year ago results show that 76.7 per cent of Sydney homes taken to auction were successful, showing the gap between this year’s clearance rate and last year’s clearance rate is starting to close. In terms of the number of auctions across the city, this week volumes were lower, down to 816 from 906 last week. One year ago just 588 Sydney homes were taken to auction over the week. The Blacktown sub-region of Sydney has shown the strongest performance so far this week, with 94.4 per cent of the 18 reported results selling, with 2 remaining results yet to be collected.</span></p>
<p><a href="/images/2015/08/03/20150803-Sydney.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/08/03/20150803-Sydney.jpg" alt="" width="759" height="518"></span></p>
<p> </p>
<p><span>There were 140 </span><strong>Brisbane</strong><span> homes taken to auction this week, with 94 results reported so far. The preliminary clearance rate for the city is 60.6 per cent, up from 54.0 per cent last week and higher than one year ago, when just 36.7 per cent of the 96 properties taken to auction were successful. Across the </span><strong>Gold Coast </strong><span>44 results have been reported so far, with a success rate of 47.7 per cent (21 sales).</span></p>
<p><a href="/images/2015/08/03/20150803-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/08/03/20150803-Brisbane.jpg" alt="" width="836" height="561"></span></p>
<p><span>This week, </span><strong>Adelaide</strong><span> saw a preliminary clearance rate of 71.9 per cent, with 57 reported results across a total of 75 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 58.9 per cent and 61.0 per cent one year ago.</span></p>
<p><a href="/images/2015/08/03/20150803-Adelaide.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/08/03/20150803-Adelaide.jpg" alt="" width="823" height="564"></span></p>
<p>There were 23 <strong>Perth</strong> auctions this week, with a preliminary clearance rate of 43.8 per cent. Last week, Perth recorded its strongest auction clearance rate for July, at 52.6 per cent.</p>
<p>Across <strong>Canberra</strong> a total of 40 auctions were held this week, compared to 49 last week and 28 at the same time last year. Canberra’s preliminary clearance rate of 79.2 per cent is higher than it was the previous week (68.8 per cent).</p>
<p>Of the 6 <strong>Tasmanian</strong> auction results reported so far this week, 2 sales have been recorded.</p>
<p><span> </span></p>
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smiller-vwPjRHTkST

Sydney’s clearance rate below 80%: CoreLogic RP Data's Shana Miller

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<p>If one was looking for a single word that is missing from the ongoing property debate, look no further than 'perspective'.</p>
<p>Some are looking at the property market from a perspective that has lead them to a conclusion which is totally and completely wrong.</p>
<p>Investors have got it completely right given (in the case of Sydney) we are suffering from a chronic undersupply which explains why the vacancy rate in a 10 kilometre radius from the CBD has sat below 2% for the best part of a decade.</p>
<p>Never before have we seen a better time to convene an inquiry into the Australian real estate markets because nobody has an accurate perspective as to what is actually happening. Earlier this year I was one of the first to write that something was not right with the influx of overseas buyers.</p>
<p>This brought about an inquiry (that is still going) although it has exposed the Australian Foreign Investment Board (FIRB) to be in total disarray.</p>
<p>Last week, Federal MP Kelly O'Dwyer told ABC <em>Lateline</em>:</p>
<p>"What we've found out though, through the evidence that our committee has received, is that these rules have simply not been enforced through prosecution since 2006 by the FIRB. I think there has been a failure of leadership of the FIRB on this. I think they have dropped the ball. I think if we have rules in place, those rules need to be properly enforced. That is the only way we can give confidence to the Australian people that our foreign investment framework's working as it should. So we would be looking to tighten up exactly what occurs in terms of enforcement penalties that can be applied, but also to make sure that FIRB is doing its job."</p>
<p>Well it's very clear that FIRB have not been doing their job, so in the meantime Ms O'Dwyer should be introducing a temporary ban on all overseas purchases until such time that the government can fully determine how big this matter is.</p>
<p>In my opinion there is no better person qualified to chair the inquiry than Bill Moss who is a former Macquarie Group banker and head of property. Speaking to <em>The Weekend Australian</em>, he said:</p>
<p>"This is the first (property) cycle we've seen where there's a deregulated global market,where capital is free to flow from Asia to Australia. We have a free floating dollar, equity makers are global and now our residential markets are going the same way."</p>
<p>The major concern in Australia is that nobody knows just how many properties have been acquired given nobody has a perspective as to the exact number.</p>
<p>Although, negative gearing presents a much bigger problem in the Australian property markets than overseas investors.</p>
<p>Another person who must be appointed to an inquiry is Saul Eslake, who this week called on Canberra to put an end to negative gearing for new investors as the best way to dampen frothy property markets in Sydney and Melbourne.</p>
<p>It should be noted that he referred to them as 'frothy' not a 'bubble'. He accepts that it is not politically feasible to abolish negative gearing because around 15%of voters are currently taking advantage of negative gearing – which explains why no politician should participate in the inquiry given they have vested interests.</p>
<p>Australian investors are smart and can sense a change to the property tax landscape in Australia, which I pointed out last week.</p>
<p>It is important to note the recommended measures are nothing more than temporary until such time that the government can get a correct perspective on the Australian property markets.</p>
<p>Bill Moss went on to say in his interview that our housing markets were better tackled at a state or local government level, with the federal government or the Reserve Bank of Australia's (RBA) macro prudential tools such as restricting how much banks can lend to investors. "Rather than react to what's happening, what the government needs to do is understand what is going to happen."</p>
<p>The interview keeps getting better, when he commented that "governments should look how to make money from a real estate bubble."</p>
<p>In my opinion, overseas buyers should be paying a much higher Stamp Duty and a Vacancy Tax for all properties where the owners decide to landbank by locking them up. All these taxes should be flowing into new infrastructure strategies.</p>
<p>The problem is that governments have neither perspective nor understanding about real estate machinations. So they need to establish an inquiry to better understand what exactly is going on as against merely flying from the seats of their pants.</p>
<p> </p>
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robertsimeon-hRNTwJyXkQ

The new 'P' in property is perspective

<html><body>
<p>Meh.</p>
<p>Retail trade increased by a seasonally adjusted 0.1% in August, missing expectations of a solid 0.4% rise. The trend still looks a bit sticky.</p>
<p><img src="/images/2014/10/8/RT1.jpg" alt=""></p>
<p>Although we got a nice result in July, August was once again fairly ordinary.</p>
<p><img src="/images/2014/10/8/RT2.jpg" alt=""></p>
<p>We'll have to wait and see what the September data brings in order to assess the impact on the growth of the economy in Q3 in chain volume measures terms. In particular, care should be taken not to be head faked by retail trade data while forgetting to acknowledge household consumption of services, which is not well captured by this data series.</p>
<p><strong>State versus state</strong></p>
<p>The state level data shows that New South Wales continues to experience boom conditions for retailers.</p>
<p>Sydneysiders would be forgiven for wondering what the fuss is about when it comes to all the talk of a "weak economy". In Sydney, shoppers have simply been lapping it up thanks to low interest rates and the recognised "wealth effect" associated with rising house prices.</p>
<p>A look at other states shows a less than rosy picture. Retail trade has under-performed badly in South Australia over the past five years. Queensland has enjoyed a somewhat better run, but is now threatening to roll over, while the year-on-year trend in Western Australia is looking a bit flat to say the least.</p>
<p><img src="/images/2014/10/8/RT3.jpg" alt=""></p>
<p>A look at the quarterly and annual data shows New South Wales miles out in front, but the mining states are now treading water somewhat.</p>
<p><img src="/images/2014/10/8/RT4.jpg" alt=""></p>
<p><strong>More pizzas</strong></p>
<p>As for where Aussies are spending their money...well, yet more eating out, of course! The value of retail trade has almost doubled in this sector over the past decade...an extraordinary trend.</p>
<p>It does not follow that this is necessarily a great industry to get into to make money, though, since the barriers to entry are relatively low and therefore it is difficult for businesses to build an "economic moat". The scores of eating establishments in suburbs such as Newtown in Sydney bear ample testimony to that fact.</p>
<p><img src="/images/2014/10/8/RT5.jpg" alt=""></p>
<p>Listed pizza takeaway companies in Britain have long opined that this trend towards takeaway food and eating out is a generational shift. And they're absolutely right.</p>
<p>Some of the increase is no doubt attributable to a rise in apartment-dwelling, where inhabitants look to spend more time out of their place of residence than was previously the case. But a big part of it is simply a generational change, which is reflected in the fact that the increases are also seen in regions where unit and apartment dwellers are in the minority.</p>
<p>For all of the seemingly zillions of cookery shows on television, a significant proportion of younger people have very little interest in cooking for themselves.</p>
<p>I can hardly claim to be exempt from the trend myself. Being from a family of five lads I can count the number of times we ate out as kids on the fingers of one hand - one family wedding, perhaps a birthday treat at a pizza house another time...not a lot else!</p>
<p>These days, eating out or going to a cafe is an almost daily occurrence.</p>
<p>Disposable incomes have increased again over the past decade, but - as is the nature of such things - as incomes increase so too does expenditure on what people begin to believe are "necessities".</p>
<p>Of course we have absolutely zero need to spend more money on dining out than any previous generation. The only thing that has really changed in this regard is an exponential rise in our own laziness and an equivalent increase in our own lifestyle expectations.</p>
<p>Then of course people complain that living costs are "too high" while simultaneously eating out for one meal in every four and in so many cases inevitably spending up to $200 per week on dining and drinking out - that's more than $10,000 per annum in after-tax dollars spent.</p>
<p>On that sombre note, off out for a coffee...</p>
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pwargent-M4siyDbqQY

An ordinary August as retail trade fails to reach expectations

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<p>There are 992 auctions scheduled this week in Melbourne compared to 1008 for the same time last year (the fourteenth week with over 1,000 auction this year).</p>
<p>The highest volume of auctions will be in Mount Waverly with 19 expected.</p>
<p>After a few weeks where sellers were holding the upper hand, last week showed that they still need to ensure that their sale price expectations are not too high.</p>
<p>While the Melbourne market is healthy, it is recording more moderate growth than in the two previous upswings in 2007 and 2010.</p>
<p>September quarter property values showed that the strongest growth in house values on a suburb basis were in the inner east.</p>
<p>Armadale saw a 25.4% rise over the last year and similar growth was recorded in nearby Malvern East, Glen Iris and Camberwell. It is often the case that in an improving market the most expensive segment records the strongest increase in values.</p>
<p>It was also interesting to note that Fairfield joined its neighbor, Alphington, as a suburb with a median house value of in excess of a million dollars. Buyers who can't afford Mont Albert or Balwyn are gravitating north of the Yarra.</p>
<p>On a city wide basis, the time on market results for houses sold at private sale rose from 39 days to 40 days over the last week while vendor discounting fell from -5.3% to -5.1%.</p>
<p>Key data</p>
<ul>
<li>Clearance rate week ending 5 October: 69.1%</li>
<li>Melbourne auctions expected week ending 12 October: 992</li>
<li>Melbourne private sales time on market week ending 5 October: 40 days (houses)</li>
<li>Melbourne vendor discounting market week ending 5 October: -5.1% (houses)</li>
<li>Listings being prepared for market are 3.9% higher in month ending 5 October (seasonally adjusted)</li>
</ul>
<p> </p>
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rlarocca-zWhvjay44N

Melbourne buyers head north of the Yarra: RP Data's weekend auction preview

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<div>Anyone who implies you that they have any genuine clarity around what is happening with Housing Finance data at the moment is telling you porkies, but since the September data was released today, let's at least see what we can deduce!</div>
<div> </div>
<div>At the margin there are evidently blurred lines between loans that are being classified as investor lending, and those which are determined to be owner-occupier approvals. </div>
<div> </div>
<div>The figures reported for new investor lending dropped sharply in September to $12.3 billion on a seasonally adjusted basis, having pulled back from a record peak of above $14 billion in April. </div>
<div> </div>
<div>As sure as night follows day, however, with Australia's major lenders continuing to target high returns on equity (ROE) there will certainly be a strong push to promote owner-occupier lending (ask for a mortgage discount!), and this was once again in evidence with another 3 per cent seasonally adjusted surge in the value of commitments in September to more than $21 billion.</div>
<div> </div>
<div>Thus while the monthly value of investor lending is now broadly flat year-on-year, the total value of owner-occupier commitments has leapt more than 23% higher.</div>
<div> </div>
<div><a href="/images/2015/11/12/HF1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/12/HF1.jpg" alt=""></div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">Blurred lines</span></strong></div>
<div> </div>
<div>Given the blurred lines in relation to loan classifications and refinancing right now, the most straightforward measure of housing market activity is simply to look at the aggregate value of housing finance. </div>
<div> </div>
<div>There was more than a slight suspicion that the rocketing value of owner-occupier commitments in the preceding month was partly a result of the mis-classification of refinancing as new lending.</div>
<div> </div>
<div>While this story remains somewhat unclear for now, the housing finance data showed another very strong month of lending in aggregate at a seasonally adjusted $33.4 billion, taking the trend estimate up to a fresh high.</div>
<div> </div>
<div><a href="/images/2015/11/12/HF2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/12/HF2.jpg" alt=""></div>
<div> </div>
<div>
<div>Classification issues or no, given that total seasonally adjusted monthly housing finance breached $25 billion for the first time only two years previously in September 2013, a total result of $33.4 billion is a phenomenally high level of activity by any reckoning.</div>
<div> </div>
<div>Ultimately, as pointed out by Reserve Bank Governor Stevens recently, borrowers can still source mortgage rates of close to 4 per cent despite the recent tightening on some investor loans, and there is still a good deal of appetite for borrowing where finance can be successfully sought.</div>
<br><strong><span style="text-decoration: underline;">Unintended consequences</span></strong><br><div> </div>
<div>Macroprudential measures taken to cool housing markets will inevitably have some unintended consequences, one of which may be that lenders demanding a high ROE target potential borrowers with existing equity, which in a curiously reflexive manner might skew lending towards markets which have already outperformed through the cycle.</div>
<div> </div>
<div>That is, cooling measures could accidentally spill fuel onto raging fires, since banks still have a desire to lend even in the face of stricter loan-to-value ratio (LVR) controls. </div>
<div>
<br>Certainly in London we saw the Pommie equivalent Mortgage Market Review (MMR) gum up UK market activity in aggregate, yet by the end of Q2 2014 the London housing market was blowing off in a spectacular starburst of bubbliness, recording its fastest annual rate of price growth in nearly three decades at +26 per cent.</div>
<div> </div>
<div>Nor has the underlying problem remotely gone away since, with record low mortgage rates helping to thrust the average London house price considerably <a href="https://petewargent.blogspot.co.uk/2015/10/average-london-house-price-500000" target="_blank">hig</a><span><a href="https://petewargent.blogspot.co.uk/2015/10/average-london-house-price-500000" target="_blank">her still to <span>£</span>500,000</a>, </span>and the latest <a href="https://www.cityam.com/228290/uk-house-prices-london-property-prices-to-rise-a-third-by-2019-as-demand-continues-to-outweigh-supply" target="_blank">forecasts</a> projecting another kamikaze 31 per cent boom in London house prices by 2019. </div>
<div>
<br>Commentary suggesting that Auckland house prices would be curbed by macroprudential measures also proved to be misguided, at least in the near term, with house prices thereafter bubbling up in rampant fashion towards the million dollar mark, although a reversal may at last now be falling due.</div>
<div> </div>
<div>Another of the unintended consequences of macroprudential measures may be a premature end to Australia's residential building boom, with loans for the construction of new homes sinking almost right across the board over the past year, and investor loans for the construction of new residential properties having tanked by nearly a quarter.<br><br>Thirdly, tighter lending measures will almost certainly knock more budding first time buyers out of the market, with market share tumbling from 15.8 per cent to 15.4 per cent in the month, and first time investors or "rent-vestors" doubtless befalling a similar fate due to their lack of existing equity.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Granularity of markets</span></strong></div>
<div>
<br>In this context it will be interesting to see what happens to lending in Sydney and Melbourne over the year ahead, since there exists tentative evidence of similar patterns unfolding.</div>
<div> </div>
<div>Of the 23 per cent boom in the value of monthly owner-occupier commitments over the past year, New South Wales has accounted for nearly two thirds of that increase, and Victoria one third.<br><br>The two most populous states - and home to the two capital cities which have overwhelmingly played host to the housing value growth through this cycle to date - have accounted for almost all of the increase in the value of lending.</div>
<div> </div>
<div><a href="/images/2015/11/12/HF3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/12/HF3.jpg" alt=""></div>
<div> </div>
<div>
<div>Queensland is home to any number of regional markets which have floundered in contrast to their supposed hotspot status of 2012 - Moranbah, Dysart, Emerald, Bowen, Chinchilla, Roma, and Gladstone, to name but a few - so in this context the relatively moderate uptick in lending commitments at the state level can be no surprise.</div>
<div> </div>
<div>Indeed the figures conversely augur well for housing market activity across the Greater Brisbane area given that the original data for Queensland in September showed solid total owner-occupier lending of $3.44 billion, taking lending volumes up to a 67 month high on a 12mMA basis.</div>
<br><div>As for the New South Wales figures in September, there has never been a month of home lending like it in Australia, with the original data busting out a +46.2% year-on-year increase in the value of lending to an astonishing $8.55 billion.</div>
<div> </div>
<div><a href="/images/2015/11/12/HF4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/12/HF4.jpg" alt=""></div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Investor lending cools: Pete Wargent

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<p><span>The Australian Bureau of Statistics (ABS) released housing finance data for September 2015 earlier this week.</span></p>
<p><a href="/images/2015/11/12/Screen%20Shot%202015-11-12%20at%2010.10.17%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/12/Screen%20Shot%202015-11-12%20at%2010.10.17%20AM.png" alt="" width="623" height="488"></span></p>
<p> </p>
<p><span>The broad housing finance trends show that demand from the owner occupier segment of lending is falling while demand from investors fades.  Of course since late December last year we have seen limits come into effect regarding annual investment credit growth as well as, more recently, higher interest rates for all investment borrowers and lower loan to value ratios for many.  </span></p>
<p><span>Given these changes it is no real surprise that demand from this market segment is falling; there is less investment borrowing to be had and lower LVRs mean that for many borrowers negative gearing becomes somewhat less attractive. On the other hand, demand from owner occupiers is rising, largely from upgraders and those refinancing while there is little sign that first home buyer demand is rising. </span></p>
<p><span>Much of the recent refinance activity has subsequently translated into eventual housing investment, it will be interesting to see if the current refinance activity is just home owners shopping around for a better mortgage deal or if it will start to flow to investment in other asset classes.</span></p>
<p><a href="/images/2015/11/12/Chart-2.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/12/Chart-2.jpg" alt=""></span></p>
<p> </p>
<p><span>Looking more closely at owner occupier lending, the seasonally adjusted data shows that there was $21.0 billion worth of commitments in September 2015.  This represented a monthly increase of 3.0% and a year-on-year rise of 23.1%. The $21.0 billion consisted of $1.8 billion in lending for construction of dwellings, $1.3 billion in lending for purchase of new dwellings, $6.7 billion in lending for refinances and $11.2 billion in lending for purchase of established dwellings. </span></p>
<p><span>Each of the four components of owner occupier housing finance commitments have increased over the month with most having increased year-on-year.  Year-on-year, the changes have been recorded at -1.3% for lending for construction of dwellings, +32.1% for lending for purchase of new dwellings, +30.0% for refinances and +23.0% for purchases of established dwellings. </span></p>
<p><span>Clearly owner occupier demand is rising however, the ABS does note that ADIs are currently making changes to lending classifications which are seeing more investor loans classified as loans to owner occupiers. This will be contributing to a proportion of this rise, how big that proportion is we are unsure.</span></p>
<p><a href="/images/2015/11/12/Chart-3.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/12/Chart-3.jpg" alt=""></span></p>
<p> </p>
<p><span>In September 2015 there was a seasonally adjusted $12.3 billion worth of housing finance commitments to investors, this was the lowest value of investor lending since August 2014.  The monthly value of lending to investors has fallen by -12.8% from its peak of $14.1 billion in April 2015.  The $12.3 billion figure consists of $0.6 billion in lending for new construction which is the lowest level in a year and $11.7 billion in lending for established homes which is the lowest level since August of last year.  Lending for new construction tends to be volatile however, it has fallen by -42.2% from its recent peak of $1.1 billion worth of commitments in December 2014.  The less volatile investment lending for established homes has fallen by -11.0% from its peak of $13.1 billion in April 2015.  Again, recent reclassifications of lending by ADIs will be contributing to some of the recent weakness however, a changing investment lending landscape is undoubtedly the most significant contributor.</span></p>
<p><span>The latest housing credit data shows that the annual rate of investor credit growth still remains above 10% (10.4%) so it is reasonable to expect that investor housing finance commitments will continue to fall over the coming months. With the rate of value growth slowing, higher interest rates and lower LVRs for many investors, the attractiveness of purchasing an investment property is also easing. </span></p>
<p><span>While investment lending has been cooling down, owner occupier lending has been rising however, much of the rise is due to upgraders and refinances.  We anticipate that this trend is likely to continue although probably not rising by the same magnitude as we’ve seen over recent months. Furthermore we anticipate that less of the refinance activity is going to flow back into housing in the form of investment purchasing.</span></p>
<p><span> </span></p>
<p><em>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>.</em></p>
<p><span> </span></p>
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Investor housing demand continues to fall sharply: Cameron Kusher

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<p>Misinformation is the scourge of real estate consumers.</p>
<p>And too much of it comes from people who present themselves in public as experts providing “analysis” when in reality they’re mis-diagnosing situations and adding to the media pipeline of misinformation.</p>
<p>It’s extraordinary how often economists, mortgage brokers, researchers, valuers, Reserve Bank officials and others do that.</p>
<p>This connects to my comments earlier in the week about the way many commentators arrive at their conclusions: if Event A coincides with Event B, then Event A must have caused Event B.</p>
<p>That’s about as sophisticated as real estate analysis gets for most cases.<span style="line-height: 1.3em;"> </span></p>
<p>Therefore, if low interest rates coincided with Sydney’s boom, then low interest rates are obviously the cause of the Sydney boom. This is accepted as fact by almost everyone out there among the chattering classes with almost-knowledge of real estate.</p>
<p>Question: why have low interest rates not caused equivalent booms in Perth, Canberra, Darwin, Brisbane, Adelaide, Hobart and most of regional Australia?</p>
<p>Many markets have been going backwards, un-stimulated by the level of interest rates.</p>
<p><span style="line-height: 1.3em;">Here are some other things Sydney’s property boom coincided with: the change in state government in 2011, the subsequent massive rise in infrastructure spending and the surge in the NSW economy to No.1 in the nation. Perhaps those events had something to do with it.</span></p>
<p>Here’s another thought. The other city market that’s shown some buoyancy in recent years is Melbourne, though not as much as Sydney. Is it not relevant that Victoria’s economy has been the No.2 in the nation, not as strong as NSW but above the national average? Melbourne also has a fairly big infrastructure spend happening, though not as big as Sydney’s.</p>
<p>The relative performances of the property markets in those cities have mirrored the health of their respective state economies and their outlay on new infrastructure, which generates economic activity, jobs and housing demand.</p>
<p>The issue of the week has been housing finance data and how it has been interpreted by commentators with almost-knowledge of property.</p>
<p>Regulatory authorities have introduced “macro prudential measures” to slow down property investor activity. The latest ABS data on housing finance shows a decline in lending to investors.</p>
<p>There’s only one conclusion a reasonable observer could draw from that, right? Clearly the regulatory measures are working. I mean, duh!</p>
<p>Well, that’s what you would say if you’re a business with a lust for limelight and your vision extends no further than the length of your upturned nose.</p>
<p>And multiple commentators rushed out press releases saying just that, including the ever-hungry RateCity which claimed: “Today's sharp drop in investor housing commitments shows that differential pricing is having a dramatic effect on the housing market.”</p>
<p>There were many others expressing similar views. APRA makes announcement, lenders lift interest rates for investors, investors stop taking out loans – simple, obvious and clear-cut.</p>
<p>Except it’s not.</p>
<p>Investors haven’t stopped staking out loans. They’ve switched the status of their borrowing from investor to home-buyer, thereby accessing cheaper rates and easier terms.</p>
<p>The apparent fall in investor borrowing reflects a trend towards reclassifying loans as owner-occupier. Most commentators have missed that.<span style="line-height: 1.3em;"> </span></p>
<p>“The (APRA) moves are having a dual impact: weakening investor loans but indirectly boosting owner-occupier loans as these become more appealing for both lenders and borrowers that have the option of purchasing as an owner-occupier,” Westpac economist Matthew Hassan says.</p>
<p>And National Australia Bank economist Tapas Strickland says that while there appears to be a decline in investor lending, “caution is warranted”.</p>
<p><span style="line-height: 1.3em;">A dose of caution generally, before commentators rush to shallow analysis in the pursuit of profile, would be welcome.</span></p>
<p><span style="line-height: 1.3em;"> </span></p>
<p><span style="line-height: 1.3em;"><em>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></em></span></p>
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Investors switching borrowing status: Terry Ryder

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<p><span>The ABS released its l</span>ending finance<span> figures for the month of September 2015 which showed a seasonally adjusted 9.5% jump in commercial finance, though in trend terms commercial finance has looked somewhat peaky.</span><br><br><span>Total lending finance increased from a seasonally adjusted $70.7 billion in August to a new cyclical high of $75.3 billion, another signal that low interest rates are gradually biting and having a positive impact on credit flows.</span></p>
<p><a href="/images/2015/11/16/A1.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/16/A1.jpg" alt=""></span></p>
<p> </p>
<div>Although there have been instances of stronger monthly results for lending finance - a flood of recapitalisation through the financial crisis saw spikes in June 2007 and January 2008 respectively - the monthly trend result has now hit a fresh high of above $73 billion.<br><br><strong><span style="text-decoration: underline;">Shifting composition</span></strong>
</div>
<div> </div>
<div>With APRA having clamped down on property investment loans, lenders are evidently pushing owner-occupier products harder, with the red line in the chart below denoting another 3% increase in the month to beyond $21 billion.<br><br>In trend terms owner-occupier lending has surged more than 20% higher over the past year, while major renovations activity ("alterations and additions") trended up to its best result in four years.</div>
<div> </div>
<div><a href="/images/2015/11/16/A2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/16/A2.jpg" alt=""></div>
<div> </div>
<div>
<div>The great surge in owner-occupier loans over the past year has been almost entirely accounted for by New South Wales and to a somewhat lesser extent Victoria.<br><br>Mirroring figures previously reported by the Reserve Bank, September was a healthy result for commercial finance with a 9.5 per seasonally adjusted jump in the month to $46.1 billion.<br><br>While the trend result looks peaky, this can be a rather unpredictable series, and in rolling annual terms commercial lending has surged 50 per cent higher over the past half decade to sit at its highest level in some 7.5 years.</div>
<br><div><strong><span style="text-decoration: underline;">Property investor loans clamp-down</span></strong></div>
<div> </div>
<div>Loans to purchase investment property are now clearly softening, which overall is a healthy sign for residential real estate markets which had become far too top-heavy with investors, resulting in rising vacancy rates and declining rents in some regions.<br><br>On a rolling annual basis NSW investment loans tore out a new record of $67.9 billion, but this particular peak is now close to being in following three months of softer results.<br><br>In June the Premier State had seen an unprecedented $6.6 billion of investor loans written in a single month, but over the last two months of available data the total dollar value of NSW property investment loans has come in at around $5.6 billion (which is nevertheless still a huge volume in historical terms).</div>
<div> </div>
<div><a href="/images/2015/11/16/A1-1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/16/A1-1.jpg" alt=""></div>
<div> </div>
<div>
<span>Despite the softening in investment loans, with the volume of NSW owner-occupier lending booming by </span>an astonishing 46.2%<span> over the past year, September was the greatest month on record for total NSW property lending at well over $14 billion at the state level.</span>
</div>
<div><span> </span></div>
<div><a href="/images/2015/11/16/LF3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/16/LF3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>Now it may be that some of the outlandish $8.55 billion of NSW owner-occupier lending in September was bogus - or at least not genuinely representative of new property market demand - with some existing owners having opted to refinance following the tightening of mortgage rates by some lenders.<br><br>At the sub-regional level it would be no surprise on this evidence to see surprisingly strong auction and property market results in some of Sydney's inner ring, particularly in the eastern suburbs.<br><br>However it's clear that the heat has already come right out of the western and outer south-western suburbs, leaving some recent buyers wondering what they've let themselves in for.</div>
<div> </div>
<div>Generally speaking APRA's macroprudential measures have been effective in slowing the pace of investor lending right across the board. Next up, I'll take a look at the trends in investor lending across each state and territory.</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Shifting sands (record NSW lending?) Pete Wargent

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<p>SQM Research released its latest vacancies and asking rents figures up to October 2015, which showed vacancy rates steady across much of the east coast but rising in the resources capitals. <br> <br>Reported vacancy rates were steady in Brisbane (2.6%) and Adelaide (1.9%), while Canberra (2.1%) saw a slight decline.<br> <br>The vacancy rate in Sydney declined to 1.6%, which has been reflected in moderately rising asking rents for houses (+1.9%) and units (+3.1%) over the year, although the rents figures may mask divergent trends at the sub-regional level.<br> <br>While both Melbourne (2.4%) and Hobart (1.1%) saw vacancy rates ticking up in October, over the past year both have recorded declines, and as such asking rents have been rising solidly in these cities too. </p>
<p>Click to enlarge</p>
<p><img src="/images/2015/11/18/Screen%20Shot%202015-11-19%20at%2010.43.38%20AM.png" alt=""></p>
<p>Resources woes</p>
<p>On the other hand vacancy rates rose further still in Perth (3.8%) and Darwin (3.5%).</p>
<p>Asking rents for houses in Darwin have tanked by more than 20% over the past year according to SQM, with Darwin set for a significant price correction.</p>
<p>Asking rents are down for houses in Perth too (-6.4%), albeit by a less dramatic margin.</p>
<p>Perth has reportedly seen the price of premium property fall sharply this year, although prices at the bottom end of the market have not shifted too much to date.</p>
<p>Perth will become an attractive buyers' market again in time, but most data - including the iron ore price which was walloped by another 4.5% overnight to be down by a stonking 76% since 2011 and 36% this calendar year alone - suggests that this time is not yet upon us!</p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Vacancy rates a mixed bag: Pete Wargent

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<p><span>Last week, the combined capital city auction clearance rate increased slightly, up from 61.4% the previous week to 62.3%. </span></p>
<p><span>Over the week there were 3,274 auctions held which was the second highest number of auctions over a week this year. CoreLogic RP Data captured results for 2,947 of these auctions which is a collection rate of 90%. </span></p>
<p><span>The two major capital city markets of Sydney and Melbourne are both showing variations in their latest results. Last week Sydney had 1,223 total auctions compared to 1,567 auctions in </span><span>Melbourne. Sydney’s clearance rate fell from 58.4% the previous week to 58.0% last week </span><span>which was the cities lowest clearance rate since February 2013. </span></p>
<p><span>While Sydney clearance rates </span><span>fell, Melbourne’s clearance rate was recorded at 69.8% up from 69.0% the previous week, </span><span>which is the highest clearance rate for the city in four weeks. </span></p>
<p><span>For 10 consecutive weeks now Melbourne’s auction clearance ra</span><span>te has been higher than </span><span>Sydney’s. Between 2010 and mid</span><span>-</span><span>2013, it was common for Melbourne’s clearance rate to outperform Sydney’s, however since that time, Sydney’s auction clearance rate has been </span><span>consistently outperforming until recently. </span></p>
<p><span>Auction activity across the capital cities is expected to fall this week with 3,171 auctions currently expected by CoreLogic RP Data, providing plenty of stock for buyers to choose from. Melbourne is expecting 1,518 residential auctions, which is greater than the 1,433 auctions held this week last year. In Sydney we are anticipating 1,130 auctions this week which is lower than both last week (1,248) and the same week last year (1,337). </span></p>
<p><span>Brisbane is set for a busy week, with 214 auctions, compared to 198 last week, while in Adelaide (141 compared to 121) and Canberra (116 compared to 102) auction activity is also expected to be higher than last week. In Perth there is set to be little change in auction activity with 38 auctions scheduled this week compared to 39 last week. </span></p>
<p><span>Melbourne’s busiest suburbs for auction this week are: Glen Waverley (29), Mount Waverley </span><span>(29) and Reservoir (26). In Sydney, the busiest suburbs for auctions this week are: Chatswood (20), Marrickville (15) and Merrylands (13). </span></p>
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