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

Joel Robinson

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

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

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

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

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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

The apartment price gap drawing Sydney buyers west

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

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

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

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

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

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

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

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With plenty of talk about a housing bubble and home values climbing much higher in Sydney and Melbourne, housing is looking expensive to many Australians. 
Low interest rates and the strong gains in certain areas are making residential housing investment quite attractive for some which is one of the drivers resulting in increasing home values. While housing may be looking expensive to locals, the declining Australian dollar means that it may be looking more attractive to foreign buyers.
Since combined capital city home values reached their most recent low point in May 2012 they have risen by 26.8%. At the same time the Australian dollar has fallen by -13.3% over that period in trade-weighted index terms. While the depreciation in the dollar has no impact on local buyers, for off-shore buyers the fall in the Australian dollar is likely to make Australian housing even more attractive. Furthermore, the Reserve Bank continues to state that there is a need for an even lower dollar which would exacerbate the relative affordability even further.
Foreign buyers are meant to be purchasing brand new homes in most instances. There have been numerous recent reports of foreign buyers not adhering to these rules.  Furthermore a recent parliamentary inquiry found that the Foreign Investment Review Board was significantly underfunded and as a result has not been able to effectively monitor and enforce foreign investment rules.
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Combined capital city home values have increased by 26.8% between May 2012 and June 2015. Keep in mind that these figures are heavily influenced by the Sydney and Melbourne housing markets with these the only two capital cities recording value growth in excess of this figure over the period. When you look at that 26.8% increase across other currencies you can see the impact of the falling exchange rate. Of those currencies highlighted only the Japanese Yen and Indonesian Rupiah have seen values rise by a greater amount. Across most other currencies the relative value rises have been significantly lower than they have been in Australian dollar terms.
Once you look at capital cities that have seen relatively lower recent capital growth, there has been a significant improvement in Australian housing affordability for foreign buyers. Not to mention the fact that in many of these foreign countries mortgage holders are borrowing at significantly lower interest rates than those available to Australians.
Sydney
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Melbourne
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Brisbane
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Adelaide
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Perth
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Hobart
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Darwin
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Canberra
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With the RBA stating that the Australian dollar remains overvalued, any further falls in the Aussie dollar are likely to result in even more attractive buying conditions for foreign buyers. Given this it is imperative that foreign investment rules are tightened and FIRB improve their surveillance work.  A central register of foreign buyers would also be seemingly important. The Victorian Government has recently announced that it will increase fees and charges to foreign buyers of property in that state.  Despite howls of protest it would seem that this is likely to have little material impact on foreign demand for housing.  Furthermore, a national approach similar to this would be a good step towards appropriately funding FIRB to undertake their review and surveillance of foreign housing investment.  Particularly given that should the dollar fall further demand from off-shore buyers is likely to increase.
Earlier this week Federal Treasury released the Exposure Drafts and Regulatory Impact Statement of legislation designed to tighten foreign investment rules, including those relating to residential real estate. The document can be read <a href="https://treasury.gov.au/ConsultationsandReviews/Consultations/2015/Implementing-Foreign-Investment-Reforms" target="_blank">here</a> and submissions can be made up until Friday 17 July.
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ckusher-ujnxiKuFQs

Australian property, expensive for us, not so for foreigners: Cameron Kusher 

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This week whilst finalising some new floor plans for our clients, I started to wonder what we could add to give them a new twist on modern living.  I asked, "do we really need the formal dining area or separate lounge room anymore and what could we replace them with?"  
One of the newer additions to the home is the theatre room which is a space dedicated to watching movies… but could there be other needs we can meet with a specific room?
There's one that comes to mind immediately... the day spa room!  I would love a space that mimicked a day spa, a kind of extension I guess of a luxury bathroom but with a space off it to lounge around and read whilst your face mask weaved it's magic. With speakers filtering new age music filled the air, wafts of calming lavender oil burned and locks on the door to keep the kids out!
What used to be known as a library may now be called a Technology Room, I envisage it as an irregular shaped room with beanbags on the floor or hammocks swung from the roof, where you lounge around, surfing the net or playing the latest online games but still with a cosy reading nook to escape inside a good novel whether it be read from a book or tablet. 
One of the more cooler ideas that my boys came up with was a skate room to hang in. A bedroom with curved walls or a half pipe to go full Caballerial on (you may need to Google this if you don't have young sons).
Outdoor kitchens have been popular and you can extend this to include a backyard cinema with courtyards with fire pits and built in bench seating.  
Of course there is the original Man Cave that has typically been the old shed or garage but the modern man is looking for far more these days and his cave may include a full gym, full cellar or full on recording studio.
Don't forget the She Shed, an area where a female can make a little sanctuary for herself. perhaps a little outdoor shed converted into a luxurious, chandelier hung hideaway.  A space where the outdoors blended with the indoor space with a comfortable lounge, lots of cushions, throws, plants and candles. 
Perhaps an economical addition to the home is a twist on the traditional guest room. These days, you can make a killing by renting out a room in your house on Airbnb or Stayz or to overseas students. So make the guest room a little more appealing and self sufficient by adding items like a bar fridge they can keep fresh snacks and drinks, a small desk they can set up their laptop/tablet and work at including a little sign with your WiFi password so it's easy to find. 
All these ideas led to one extra inclusion in our floor plan and that was a home office. It has now become a feature of all Property Bloom developments as we all need a space to work or study from in the home and so we now have our kitchen supplier design and install a built in desk with storage and shelving and tenants are loving it. 
Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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jochivers-wq5Bp59R5a

Thinking outside the Square: Jo Chivers

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What a hoo-ha we experienced this week with Treasurer Hockey's comments when he dismissed suggestions that property in Sydney was unaffordable when he went on to say "If you've got a good job and it pays good money and you have security in relation to that job, then you can go to the bank and you can borrow money and that's readily affordable."
and "...if housing were unaffordable in Sydney, no one would be buying it," he said.
You know, it got me thinking back to 2003/4 when something similar was going on.  We copped the same media frenzy about the overheated Sydney market and that the boom would crash soon etc.
Then like now, when property becomes too expensive, usually in the cities, investors start to look for more affordable areas.
I was in the market investing in the early 2000's and that is exactly what I did. After settling four negatively geared Sydney properties, I realised there was no point to continue to buy such expensive property after all the capital growth had been realised as the market was peaking and back then the rental market was not as strong as it is now. I needed to find more cash flow positive property. Property that I could add value to and big blocks we could build multiple dwellings on so I could keep buying more. 
That’s when I discovered the Lower Hunter Region of NSW.
There are some people that think regional areas do not experience good capital growth. I track the quarterly median price in three of the regional cities Property Bloom develops in and my graph looks very healthy. There are no extreme spikes but healthy long term growth. Rental yields are around 7% gross on most of our completed developments and with cash so cheap right now, this is sure to present a good return in anyone's book. Also, the depreciation benefits on new property is a nice bonus.
Property Bloom has found a prime location that is currently experiencing good growth and high demand for the housing we are building for our clients. So forget about what some of our politicians are saying and get stuck into some solid research on regional cities and I bet you'll be pleasantly surprised.
<h1 class="Normal"> </h1>
 Jo Chivers is Chief Executive Officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Copping the media frenzy: Jo Chivers

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Sales data over the 12 months to March 2015 shows that there have been more homes sold across the combined capital cities for less than $200,000 than there have been homes sold for more than $1 million. As you would expect there is a growing proportion of sales in excess of $1 million in Sydney and Melbourne while homes selling for less than $200,000 are almost exclusively found in Hobart and Adelaide.
Over the 12 months to March 2015, a record low 6.1% of capital city home sales were below $200,000 and 31.8%sold for between $200,000 and $400,000, the lowest proportion since the 12 months to October 2001. While we are seeing a decline in sales at the lower price points, predictably more expensive sales are increasing.  Over the 12 months to March 2015, 10.0% of all homes sold across the combined capital cities sold for more than $1 million, a record high. As we will discover the proportion of homes selling in excess of $1 million is substantially higher within cities such as Sydney and Melbourne.
Sydney
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Over the 12 months to March 2015, a record low 8.9% of Sydney houses sold for less than $400,000 compared to a record high 34.0% of houses selling above $1 million.  The remaining 59.2% occurred between $400,000 and $1 million.  For the unit market, a record low 18.6% of sales were below $400,000 whilst there was a record high 71.1% between $400,000 and 1 million and a record 10.3% above $1 million.  The impact of a surge in home values over the past year is being felt at the lower end of the market with a sharp drop in sales below $400,000 for both houses and units over the past year.
Melbourne
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24.5% of Melbourne houses and 36.9% of Melbourne units sold for less than $400,000 over the 12 months to March 2015.  In comparison, 16.5% of houses and 5.1% of units sold for more than $1 million.  For houses, the proportion of sales below $400,000 was at a record low while it was just shy of a record low for units.  Conversely, both houses and units logged a record high proportion of sales over $1 million.  Like Sydney, the impact of the value rises over recent years is being felt most at the lower-end of the housing market with a sharp decline in sales below $400,000.  This is highlighted both by the table above which shows a sharp drop in sales below $400,000 over the past 20 years.  Unlike Sydney, finding more affordable housing options is relatively easier in Melbourne with almost 1 in 4 houses and more than a third of units selling for less than $400,000.
Brisbane
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Across all sales, 30.6% of houses and 52.5% of units transacted in Brisbane over the year to March 2015 sold for less than $400,000.  The proportion of houses sold for less than $400,000 was at a record low while the proportion for units was lower in the middle of last year.  House sales in excess of $1 million were at a record high 5.9% over the past year while the 2.3% of unit sales over $1 million is still a way off the record high 3.1% in early 2011.  Brisbane has seen fairly moderate value growth over recent years however, we are still seeing an erosion in sales at the lower end of the market, albeit the deterioration is moderate compared to Sydney and Melbourne.  10 years ago, almost three quarters of houses and more than 4 out of every 5 unit sales was below $400,000, as the above table shows there has been a marked shift over the past decade to fewer lower priced sales.  Relative to Sydney and Melbourne properties selling for less than $400,000 are much more common across Brisbane.
Adelaide
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 Over the 12 months to March 2015 45.3% of Adelaide houses and 65.9% of units sold for less than $400,000.  The proportion of houses and units sold for less than $400,000 was at a record low over the past 12 months however, lower priced housing stock is much more readily available than across all other mainland capital cities.  While sales at a lower price point are falling, a record high 4.7% of houses sold for more than $1 million over the past year.  For units, 2.6% of all sales were over $1 million which was lower than the 3.5% recorded in mid-2008.  Value growth across Adelaide has been limited since the financial crisis, nevertheless the proportion of homes selling for less than $400,000 has continued to decline.  Adelaide offers much more affordable housing options than all other mainland capital cities.
Perth
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15.1% of Perth houses and 37.7% of Perth units sold for less than $400,000 over the 12 months to March 2015.  In comparison, 10.8% of Perth houses and 4.2% of units sold for more than $1 million over the past year.  The proportion of houses and units selling for below $400,000 is above the record-low of 14.7% and 36.9% respectively both of which occurred over the past year.  The climb in more affordable sales over recent months is likely to be reflective of the fact that value growth has hit a stand-still in Perth over the past 12 months. Furthermore, new supply of homes is at close to record highs across the city currently.  Perth has recorded one of the strongest capital growth rates over the past decade and as a result there has been a substantial decline in the proportion of homes selling for less than $400,000.  This is highlighted by the fact that 10 years ago 81.7% of Perth houses and 88.0% of units sold for less than $400,000. In fact, Perth currently has fewer house sales below $400,000 than all capital cities except for Sydney and Canberra.
Hobart
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Hobart is the nation’s most affordable capital city and also sees an overwhelmingly larger proportion of lower priced house and unit sales.  Over the 12 months to March 2015, 61.4% of Hobart houses and 82.0% of units sold for less than $400,000.  Hobart is the only capital city in which a majority of houses have sold for less than $400,000 over the past year.  Subsequently, relatively few homes sell for over $1 million with just 1.5% of all house sales and 1.7% of unit sales over that price point.  Hobart’s housing market has seen very little growth in home values over the past 10 years yet there has still been a fairly substantial decline in house sales below $400,000 while unit sales below $400,000 have seen little change.    10 years ago, 86.9% of all house sales were less than $400,000 and 88.5% of unit sales sat within that price point.
Darwin
<img src="/images/2015/06/25/chart-7.jpg" alt="">
Darwin has recorded the strongest value growth of all capital cities over the past decade; as a result it has shifted from being one of the most affordable capital cities to now being one of the most expensive.  Over the 12 months to March 2015, 20.8% of houses and 28.8% of units sold for less than $400,000.  Alternatively, 6.3% of houses and 4.8% of units in the city sold for more than $1 million.  The proportion of houses selling for less than $400,000 has started to trend higher over recent months as values have fallen while unit sales below $400,000 are at a record low.  The proportion of sales above $1 million is below its record high for houses and units with the record high coming for houses over the past year and in late 2010 for units.  With value growth in Darwin the strongest of all capital cities over the past decade, the decline in the availability of more affordable housing is clear.  Around 1 in 5 house sales nowadays are below $400,000 compared to 9 out of 10 a decade ago.  For units, just over 1 in 4 sales nowadays are below $400,000 compared to more than 9 in 10 a decade ago.
Canberra
<img src="/images/2015/06/25/chart-8.jpg" alt="">
 
Over the 12 months to March 2015, 7.8% of Canberra houses and 42.3% of Canberra units sold for less than $400,000.  On the other hand, 5.9% of house sales and 2.4% of unit sales were for more than $1 million over the year. The proportion of houses selling for less than $400,000 is currently at a record low while unit sales below $400,000 reached their low point throughout the past year at 39.7%.  The number of houses selling over $1 million is below its peak of 6.2% a couple of months earlier, as are unit sales at this price point.  Although home value growth in Canberra has been moderate over the past 5 years, there’s been a fairly substantial fall in sales below $400,000 over that time.  5 years ago, 23.2% of Canberra houses and 56.7% of units were sold for less than $400,000.
The data shows that whether you look at interest rates, household incomes or any other factor that can influence affordability; we have seen a sharp decline in homes selling at a lower price point in over the past decade.  Of course, even a home priced at $400,000 won’t be cheap enough for some potential home buyers.  It is to be expected that the cost of housing rises over time however, there are social issues surrounding the sharp decline in lower priced homes.  The result is that more people have to choose to rent or alternatively they have to move away from our capital cities or to smaller capital cities.  Of course, finding employment in smaller capital cities and regional markets can be more difficult.
Anecdotally we are also hearing that in markets such as Sydney and Melbourne first time buyers are purchasing investment properties rather than owner occupied properties for their first home.  We also hear that a number are purchasing investment properties outside of these two cities where you can seemingly get better value for money.  Of course, in most markets outside of Sydney and Melbourne the economies are currently weaker and capital growth has been much more moderate.
Housing affordability is a very individualistic issue however; the data contained here shows that housing at a lower price is becoming much harder to come by, particularly in our larger capital cities.
Cameron Kusher is RP Data’s senior research analyst. Follow Cameron on Twitter <a href="https://twitter.com/cmkusher" target="_blank">here</a>. 
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1 in 10 capital city home sales over $1 million: Cameron Kusher

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A major Sydney newspaper headline proclaimed this week that “Sydney’s property market boom is finally over but house prices remain high”.
Well, exactly. Therein lies the problem.
The article went on to say: “Sydney’s housing boom has finally reached its peak, but don’t expect house prices to start falling any time soon.”
In fact, Hotspotting research indicates the Sydney market reached its peak in the December quarter last year and sales activity has been on a gradual decline since then.
It’s taken the market and the media more than half a year to realise what’s happening.
Analysts, economists, commentators and writers rely on movements in median prices to inform their view of property markets. The problem is that median price data is at least six months behind the game.
The alleged median price for Sydney is still rising, even though the number of sales has been fading, auction clearance rates have been falling and professionals at the coalface have been reporting an easing of competition and evaporation of the boom-time heat.
The market is clearly heading south but, according to the price data much-beloved by almost everyone, it’s still rising.
Market watchers should be observing sales activity. The number of sales happening in markets provide a much more accurate and timely picture of market trends – and they can predict price movements. 
This is the basis of the Price Predictor Index published quarterly by hotspotting.com.au. We chart sales volumes in every suburb and town in the nation.
And this is what it’s telling us:-
<ul>
<li>The number of Sydney growth suburbs is one-third of the number six months ago.</li>
<li>Regional New South Wales is rising and has twice as many growth markets as Sydney does.</li>
<li>Adelaide and Brisbane have both overtaken Sydney and continue to rise (but you won’t know it if you rely on median price data).</li>
<li>Melbourne has faded a little but remains more buoyant than Sydney.</li>
<li>Regional Queensland has almost as many growth markets as Brisbane does.</li>
<li>The strongest market region in the nation, now, is South East Queensland, with Brisbane, the Gold Coast and the Sunshine Coast all busy.</li>
<li>There are also markets in serious decline and they’re all locations that previously rose with the resources boom and were oversupplied by over-zealous developers.</li>
</ul>
The sales volumes data shows that the pecking order in Australian real estate is changing – but it won’t show up in the median price growth figures any time soon.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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The Sydney market is clearly heading south: Terry Ryder

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We're at the pointy end of a development and I'm in the middle of coordinating the last three weeks so everything falls into place efficiently. Our job as project managers is to save our clients time and money and sometimes a development can really drag out at the end of construction.
I thought I'd share all the things that need to happen as a Property Bloom project nears completion and why it's so importance to manage this carefully. 
We have a dual occupancy project that is three weeks out from completion. I can say three weeks confidently as I've worked back from the date of Handover to right now and listed everything that needs to happen. 
We define completion not by the construction work finishing, but by the dwellings being tenanted and earning income for our clients. It's one of the most important stages because our clients have been paying the builder's draw downs through the development and now it's time for them to reap the financial rewards. 
Our process aims for a zero vacancy period and we do this by using something that is intangible yet very valuable. Strong relationships. 
So in these last few weeks we need to micro manage the builder, our client and their bank, a valuer, our property management agency, our private certifier, a landscaper, the estate guidelines manager and our quantity surveyor. 
The first step towards the end is to conduct the Practical Completion (PC) inspection  as soon as we can, but not too soon that the builder is not ready. This is when we'll walk through the villas and compile a list of items that still need finishing off. These may include paint touch ups, cleaning, any damage to exteriors (I always check the gutters and fascias closely as sometimes they harbour dents), chips in anything, landscaping, fencing, blinds, carpet and built in robes, shower screens all installed, sliding door and window tracks cleaned of all dirt (my pet hate is dirt left in tracks!) and I make sure everything works right down to a strong flush to the toilets. 
The builder has a week to address the items on the PC inspection list and then we'll come back and reinspect. In the meantime, we need our client to send the final builder's invoice to their bank for payment. Before releasing the final funds, the bank will send their valuer to check works have been completed. We must ensure the valuer is booked in quickly and has no problems with access otherwise the final payment can be held up.  When the money is released to the builder, keys can be handed to tenants. So no keys, means no tenants, means no income. 
At the same time we ensure that the Private Certifier conducts their final inspection. Once they have done this and have all related documentation,  the Occupation Certificate (OC) will be released.  No OC, means no tenant, means no income.
We've cut a deal with an agency who is going to lease the villas (whether a tenant has actually moved in or not) from the day the OC is received. So it's important we get this as quickly as possible but all Conditions of the DA must be met before the Certifier will release the OC. 
We are also coordinating with an external landscaper who is responsible for the front landscaping and it must meet stringent estate guidelines.  This work has to be completed before the OC can be issued.
We brief our Quantity Surveyor to prepare Depreciation Schedules for our client to use at tax time as soon as we've received the builder's final invoice as this completes the actual build costs. However, the Depreciation Schedules cannot be completed until we have a Handover date. Handover is officially when the builder has received the final payment into their account and keys are released. 
We need to ensure our builder has completed all works in time and there is a good measure of trust as the builder allows our management agency on site to show the villas to prospective tenants before Handover has occurred. Our client also trusts us to ensure the builder gets everything finished after they've submitted the builders final invoice to the bank. 
Communication through this period is key. We talk a lot to our client, their bank and the contractors to ensure everyone completes their tasks when they should - all it takes is for one not to and it can hold up the entire process. 
So in exactly three weeks time this dual occ project will be completely finished, our client will be happy with tenants in place, our builder will be happy they've been paid quickly and we'll be happy that it all came together nicely. 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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What happens in the last three weeks of a development? Jo Chivers

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The number of auctions across Australia’s capital cities slipped lower over the first week of Spring, with 2,272 auctions held (down from a recent high of 2,654 the previous week), however auction numbers remained well above the same week a year ago when there were 1,897 auctions held. 
 The preliminary clearance rate of 74.9 per cent was higher than the previous week’s result of 73.4 per cent and similar to last year, when the final result across the combined capital cities was 74.1 per cent.
<a href="/images/2015/09/07/20150907-Capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/07/20150907-Capital-city.jpg" alt="" width="716" height="538">
 
In Melbourne, a preliminary auction clearance rate of 76.2 per cent was recorded across 998 auctions this week. Last week, Melbourne’s final clearance rate was slightly higher at 76.7 per cent across 1,188 auctions. One year ago, there were 872 Melbourne auctions held with 76.7 per cent of the results reported as successful. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate, was Melbourne’s Outer East. So far, CoreLogic RP Data has collected 80 results for the region and the preliminary result shows 91.3 per cent of these auctions were successful.
<a href="/images/2015/09/07/20150907-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/07/20150907-Melbourne.jpg" alt="" width="799" height="536">
 
Across Sydney, this week’s preliminary clearance rate was recorded at 78 per cent, up from a recent low of 75.1 per cent last week, the lowest clearance rate the city has seen all year, and below the clearance rate for the city one year ago (80.1 per cent). This week, Sydney was host to almost as many auctions as Melbourne (995), but less than the 1,106 held last week, and higher than a year ago when there were only 705 Sydney auctions held over the week. North Sydney and Hornsby was the busiest sub-region of Sydney this week for auctions, with 154 homes taken under the hammer. Based on preliminary results, the region recorded a healthy 83.6 per cent clearance rate, with only two other sub-regions recording a higher result; Inner West (88.6 per cent) and Eastern Suburbs (84 per cent).
Click to enlarge
<img src="/images/2015/09/07/20150907-Sydney.jpg" alt="" width="739" height="494">
 
There were 129 Brisbane homes taken to auction this week, with 83 results reported so far. The preliminary clearance rate for the city is 50.6 per cent, down from 54.2 per cent last week and higher than one year ago, when 44.7 per cent of the 128 properties taken to auction were successful. Across the Gold Coast 25 results have been reported so far, with a success rate of 64 per cent (16 sales).
<a href="/images/2015/09/07/20150907-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/07/20150907-Brisbane.jpg" alt="" width="724" height="485">
 
This week, Adelaide saw a preliminary clearance rate of 74 per cent, with 50 reported results across a total of 66 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 58.1 per cent and 68.8 per cent one year ago.
<a href="/images/2015/09/07/20150907-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/07/20150907-Adelaide.jpg" alt="" width="721" height="489">
 
In Perth, auction volumes fell to 26 this week, from 34 last week. So far, only 7 auctions have been reported to CoreLogic RP Data, with 5 of these reported as successful. Last week, the final auction clearance rate for Perth was 45.2 per cent across the 34 auctions.
Across Canberra a total of 51 auctions were held this week, compared to 47 last week and 69 at the same time last year. Canberra’s preliminary clearance rate of 65.4 per cent is lower than it was the previous week (69.8 per cent).
Tasmania had 7 auctions take place this week, 2 results have been reported so far, with no sales.
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Auction clearance rates move higher on lower volumes: CoreLogic RP Data's Shana Miller

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The developer lobby has worked hard to convince everyone that (a) there’s a housing affordability crisis and (b) it can be fixed by making it really easy and seriously profitable for developers to build lots more houses.
The argument is: increase supply and affordability will be solved.
Like most of what comes from the developer lobby, this is a melting pot of myth, self-serving propaganda and outright lies.
On Wednesday, 9 September the keynote address for the Festival of Urbanism at the University of Sydney will be presented by Professor Laurence Murphy, who is Professor of Human Geography in the School of Environment at the University of Auckland. 
The topic of the keynote address is: “Myth: Increasing housing supply leads to more affordable homes.” The University of Sydney’s media alert is headlined: “Why building more houses won’t fix Sydney house prices.”
The university’s media alert makes these comments: “Current NSW Government policy on affordable housing is focused on increasing new housing supply, which in turn is anticipated to put downwards pressure on housing prices. 
“The Sydney market shows that despite substantial increases in housing supply over the last few years, house prices have continued to surge.
“This pattern in Sydney mirrors the experience of other international markets such as the US, Spain and Ireland, where substantial increases in supply were accompanied by large price increases.
“Looking at Ireland, which has about the same population as Sydney, in the mid-1990s Ireland tripled its housing production from around 30,000 homes a year to a peak of 89,000 dwellings in 2006, but house prices increased too by 350% across the country and more than 400% in Dublin.”
It’s always been a major furphy, inspired by self interest, that building more houses would make Sydney homes cheaper. What they want us to believe is that we’d all be better off if developers made more money faster.
Give us lots of cheap land, fast approvals, lower taxes and zero infrastructure charges and we’ll improve affordability. In reality, the only thing that improves in this scenario is developer profitability.
The bottom line is: Sydney doesn’t have a shortage. If it did, rents will be rising, and we haven’t had meaningful rental growth in Sydney for years.
The developer lobby has been shouting shortage for the past decade but for most of this period Sydney prices have shown little growth. 
That has changed in the past two years but it has nothing to do with shortages. It has everything to do with a buoyant NSW economy, tens of billions in infrastructure spending, a significant rise in local business and consumer sentiment and a decade of stagnant prices, leading to a period of catch-up growth which still leaves Sydney behind Perth, Darwin and Melbourne in the long-term capital growth stakes.
Sydney has high property prices because it’s an international city and a wealth magnet. We may think Sydney is expensive but overseas investors from other major international cities like Hong Kong, Singapore, New York, Paris and London think it’s relatively cheap.
The solution to Sydney’s high prices is accepting that there is no solution. And high on the list of non-solutions is the developer lobby’s wish list of measures to help them build more dwellings.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Developer lobby offers self-serving propaganda and outright lies: Terry Ryder

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<div>An extraordinary speech in Sydney from the Reserve Bank's Luci Ellis which could almost be an advertorial for what experienced property investors already know - when it comes to property investment, location really is everything.</div>
<div> </div>
<div>The supply of prime location land, explains Ellis, is essentially fixed, yet with a growing population in Australia the demand for it grows by the year.</div>
<div> </div>
<div>The inevitable result therefore has been that inner ring land values and therefore house prices continue to rise faster than those in the outer suburbs, and not only by a small margin. </div>
<div> </div>
<div>Ellis explains that even releasing more land around the capital city fringes may not be effective at bringing down inner ring house prices since the prime location land which everyone seems to want to get their hands on remains fixed in both place and supply.</div>
<div> </div>
<div>Research by the Reserve Bank shows that place is nearly always more important than spacewhen it comes to driving property prices, and buyers will always pay a premium for inner suburban housing.</div>
<div> </div>
<div>Moreover, significant increases in demand cannot be absorbed by new supply of prime location land, quite simply because there is none.</div>
<div> </div>
<div>In the words of Ellis: "The newly buily supply is simply not the same as the existing stock, because it is somewhere else".</div>
<div> </div>
<div>Indeed. I wrote about this very same issue - "substitutability" - some time ago. </div>
<div> </div>
<div>There is nothing particularly new about this idea, of course, but the Reserve Bank provides the research to prove the point by comparing the growth in "prices of inner ring properties to those further out, particularly in Sydney".</div>
<div> </div>
<div>The gap in the relative price action performance is both material and ongoing, with the data from 2006 to 2014 proving the point and ending any arguments.</div>
<div> </div>
<div><a href="/images/2015/09/09/RBA4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/09/RBA4.jpg" alt=""></div>
<div>
<div>Within the above framework if outperformance is what you are seeking it obviously helps to find suburbs which are set to improve in some way (for example, a gentrifying location, or set to benefit from a new light rail link). Over recent cycles, house prices have also outperformed apartment prices in most capital cities, although with initial rental yields often 1 per cent or more lower on average for inner suburban houses generally the growth needs to be stronger to compensate for the weak initial cash flow. The old adage is true. When it comes to property, it really is first and foremost about "location, location, location".</div>
 
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>. 
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>.
</div>
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RBA: Location, location, location! Pete Wargent

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There continues to be a yawning divide between the facts on housing affordability and media coverage claiming a crisis.
Yawning is an appropriate word, because journalistic insistence on declaring the Great Australian Dream dead in the face of all the evidence has become boring.
According the latest research on the subject, property in Australia is more affordable than it was 12 months ago – with the exception of one state (no prizes for guessing which one) .
Across Australia, affordability improved in the June Quarter from 30.9% of household income devoted to mortgage payment to 30.3%, according to a new report from the Real Estate Institute of Australia and Adelaide Bank.
The exception to a general picture of improving affordability was New South Wales, where households used 35.6% of their income to meet their mortgage repayments in the June 2015 quarter, compared to 35.3% in the June 2014 quarter.
Last month, the other major research into housing affordability – the Housing Affordability Index from the HIA – also found that affordability has been improving around Australia, with Sydney as the obvious exception.
Media generally manages to ignore that reality and run headlines like “Are foreign investors destroying the first home buyer market?” and articles like a recent one published recently by the Herald Sun which is a serious candidate for our annual Worst Article of the Year award. 
A “journalist” declared in the Herald Sun that “the Great Australian Dream of a house in the suburbs has become an unaffordable nightmare” and justified this by quoting the price of the most expensive houses in a range of suburbs – not the median price, but the dearest. 
The writer noted there was a house for sale in Doncaster asking $3.5 million and used that to support this declaration: “What hope will our kids have?” The article went downhill from there. 
That’s the reality of mainstream media in modern Australia. There are favoured story lines and publications will pursue them with little regard for the facts.
Back in the real world, the new research on affordability shows that the Northern Territory experienced the biggest gain in affordability, with the share of income needed to meet mortgage repayments falling 2.8 percentage points, from 26.6% to 24.9%. 
Western Australia improved from 26.6% to 24.4% and Tasmania from 25% to 22.9%. South Australian mortgagees had a saving of 1.6 points, from 27.1% to 25.5%, while Queensland improved from 28.1% to 27.3%, the ACT from 19.8% to 19.5% and Victoria from 32.2% to 32.1%.
Those hard statistics add to the growing pile of evidence that concerns about price booms, bubbles and out-of-control markets are overblown and wide of the mark.
It has promoted Domain Group senior economist Dr Andrew Wilson – one of the few economists in the land who has a grasp on property issues – to call on Australia’s prudential banking regulator to prove that the country's housing market really does need fixing
Wilson questioned the basis for restrictions to investor lending, saying that APRA had not provided detailed modeling to show why it believed the investor market was overheated.
“Where's the heat? I don't understand where the heat is,” he said. “We have the lowest level of mortgage defaults we've seen. Affordability is still below average levels.”
Wilson said Australian markets have a historical reputation for “orderly growth and correction phases”. He who noted that the one heated market, Sydney, was starting to cool as part of that natural process.
“This is the nature of our housing markets and we're very fortunate that we have those in-built stabilisers in our housing market. I think once we see policymakers interfere in that process, the downstream consequences are really problematic."
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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