<p>Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.</p>

<p>The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.</p>

<p>The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.</p>

<p>The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" /></p>

<p>SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.</p>

<p>“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" /></p>

<p>The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.</p>

<p>Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" /></p>

<p>“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.</p>

<p>The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.</p>

<p>The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.</p>

<p>Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a></em></p>


Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.</p>

<p>The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.</p>

<p>The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.</p>

<p>SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”</p>

<p>The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" /></p>

<p>The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.</p>

<p>A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.</p>

<p>Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" /></p>

<p>The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.</p>

<p>Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.</p>

<p>The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.</p>


First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;</p>

<p>The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;</p>

<p>The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."</p>

<p>Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.</p>

<p data-end="950" data-start="653">Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.</p>

<p data-end="1522" data-start="1309">The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.</p>

<p data-end="1945" data-start="1716">The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.</p>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.</p>

<p data-end="638" data-start="322">The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.</p>

<p data-end="864" data-start="640">Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.</p>

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."</p>

<p>“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.</p>

<p>“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.</p>

<p>“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.</p>

<p><a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


Eastern Suburbs buyers snap up ESTE Little Bay 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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<div>Building activity is one of the more complicated data series released by the ABS, so I'll just post the headline figures here. </div>
<div> </div>
<div>Overall the level of residential building activity remained high, increasing quite strongly in 2016 in fact, but nationally it looks as though the peak is now more or less in. </div>
<div> </div>
<div>At the end of the year there was still a historically high number of dwelling units approved and not commenced, but Sydney was beginning to chew its way through the backlog. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/13/A3.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/13/A3.jpg" alt=""></div>
<div> </div>
<div>Nationally dwelling commencements remained strong in the fourth quarter of 2016 at more than 57,000 in seasonally adjusted terms.</div>
<div> </div>
<div>But in reality the red hot run is now only being held aloft by Sydney, with commencements declining in Melbourne, Brisbane, and Perth. </div>
<div> </div>
<div>New South Wales saw a total of 19,950 dwellings commenced in the fourth quarter, with Victoria sliding to 16,460, and Queensland dropping sharply to 10,150.</div>
<div> </div>
<div>Commencements have been falling in Western Australia for nine consecutive quarters.</div>
<div> </div>
<div>Plotting the figures in trend terms shows how the residential boom is really just a Sydney story now. </div>
<div class="separator"> </div>
<div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/04/13/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/13/A4.jpg" alt=""></div>
<p><strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Supply coming online</span></strong></p>
<div>At the end of 2016 there were still some 219,384 dwellings under construction, including 152,635 attached dwellings.</div>
<div> </div>
<div>The total is slightly lower than the record peak seen in September 2016, indicating that new apartments were already starting to hit the eastern capital city markets towards the end of last year. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/13/A1.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/13/A1.jpg" alt=""></div>
<div class="separator"> </div>
<div>There were a record 82,857 dwellings under construction in NSW at the end of the year, some 62,040 of them being attached dwellings, and so many of them of the 'egg box' variety.</div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/04/13/A2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/13/A2.jpg" alt=""></div>
<div class="separator"> </div>
<div>The actual number of dwellings actually completed in 2016 were high, but themselves hardly alarming, including in NSW (58,730), Victoria (59,977), and Queensland (44,983). </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>While these are big numbers in historical terms, today's largely unnoticed arrivals and departures figures presented some food for thought, with permanent and long term arrivals exploding to 103,570 in February, by some margin the biggest single month on record.</div>
<div> </div>
<div>There was also an unprecedented number of education arrivals in 2016, which may be a coincidence or driven by the lower dollar. </div>
<div> </div>
<div>On the other hand, maybe the government has quietly turned on the immigration taps.</div>
<div> </div>
<div>Remember that most immigrants to Australia head to the two most populous states, which are also home to the two best performing economies and the highest number of job vacancies.   </div>
<div> </div>
<div>Let's hope the new arrivals like egg boxes. </div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
</div>
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pwargent-M4siyDbqQY

Let's hope the new arrivals like egg boxes: Pete Wargent

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<p class="BodyCopy">No one needs to do more about housing affordability than the NSW State Government. Sadly, no one is doing less.</p>
<p class="BodyCopy">The Victoria State Government has made an encouraging start to tackling some of the issues in Melbourne. The Northern Territory Government is doing plenty to help first-home buyers in Darwin.</p>
<p class="BodyCopy">Even in Tasmania, where Hobart prices are so low relative to other cities you wonder why they feel the need, the State Government is taking decisive action to help young buyers and the housing industry generally.</p>
<p class="BodyCopy">But in Sydney, the location with the biggest problems, the NSW Government has to date done nothing.</p>
<p class="BodyCopy">It has contributed mightily to the problems by ripping obscene amounts of revenue out of the housing industry and imposing major regulatory burdens on the development industry. But despite the rhetoric of Premier Gladys Berejiklian (who, as a former state treasurer should have some understanding of the issues and the numbers), the State Government has done nothing to assist.</p>
<p>In NSW stamp duty receipts have reached a record high. Official figures show that $1.98 billion in stamp duty poured into government coffers in the March Quarter alone – a $315 million increase on the first quarter of last financial year.</p>
<p>Stamp duty from all property transfers has risen $859 million so far this financial year, compared with the same period in 2015-16. This represents a 10 percent increase in stamp duty on residential property, outpacing the Treasury forecast of a 4.8 percent rise for 2016-17.</p>
<p>That’s a major part of the problem. The State Government has built a Budget surplus on the back of revenue from real estate, thereby adding to the costs that burden buyers, while claiming to care about affordability issues.</p>
<p>In considering what it can do ease price pressures, the NSW Government might ponder this question: why does residential land in Sydney cost twice what it does in Melbourne? The median price for a home site in Sydney in 2016 was double that of Melbourne’s, according to the recent State of the Land report.</p>
<p>One possible explanation is that Melbourne brought far more residential land to the market last year than Sydney did. Indeed, 40 percent of the new land marketed in capital city Australia in 2016 was in Melbourne.</p>
<p>Increasing supply is regarded by some as the silver bullet solution. It’s not, but it’s certainly part of range of measures that jointly might create improvement.</p>
<p>And certainly the Property Council has “turbo-charging housing supply through increased land supply and planning reform” at the top of its five-point plan to address affordability issues in Sydney. If Melbourne can create so much new housing land for sale, what’s holding Sydney back?</p>
<p>Increasing the supply of housing won’t help affordability if the new dwellings are expensive, because it costs so much to create them.</p>
<p>Which is why next on the Property Council wish list comes “reforming state property taxes and reducing fees, charges and red tape”.</p>
<p>It’s been reported many times but it’s worth repeating: research indicates that 40 percent of the cost of creating the average house-and-land package comprises government fees, charges and taxes.</p>
<p>That reinforces my view that the politicians who rage against foreign investors and negative-geared Australian investors are themselves the problem. Every time a state government in Australia announces its annual Budget, affordability in that state gets worse.</p>
<p>Some of the most vocal critics of the affordability problem in Sydney have been NSW state politicians, when they themselves are the people best placed to create remedies. They can start by reducing the cost burdens they place on the process of building and buying new homes.</p>
<p>Meanwhile, their populist scapegoating of foreign investors, and multiple measures by federal and state governments to nobble offshore buyers, are making the affordability problems worse.</p>
<p>The most effective way to cause property prices to fall – indeed, in my experience, the only way – is to create an oversupply. Some of our major cities have been heading unwittingly down that path recently, notably in the inner-city apartment markets in Melbourne, Perth and Brisbane.</p>
<p>But major projects made viable by the prospect of selling some of the product to foreign buyers will not proceed because of a range of measures by federal and state governments to make investment by offshore buyers unattractive, if not unviable.</p>
<p>They’ve made matters worse for young buyers while claiming to be improving their chances.</p>
<p>Don’t be surprised if one of the few measures the NSW State Government will introduce in its next Budget will be extra taxes and charges on foreign buyers. It will be another cash grab, dressed up as policy to “level the playing field for young Australians”.</p>
<p><span>Terry Ryder is the founder of </span><a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a><span>. You can </span><a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a><span> or follow him on </span><a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></p>
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terryryder-YECXbqmri2

Why does residential land in Sydney cost twice what it does in Melbourne?

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<p>According to the latest housing finance data release for March 2017 there was $33.2 billion in finance commitments over the month. </p>
<p>The monthly value of commitments increased by 0.9 percent to be 5.3 percent higher year-on-year. </p>
<p>While the value of commitments to investors has slowed over recent months, owner occupier demand lifted slightly in March 2017.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/24/chart-1-2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/24/chart-1-2.jpg" alt=""></p>
<p>The data shows that in March 2017, the $33.2 billion in housing finance commitments comprised of $20.2 billion to owner occupiers and $13.0 billion to investors. </p>
<p>The value of owner occupier commitments increased by 0.9 percent over the month to be at its highest level since June 2016. </p>
<p>Investor demand also rose over the month, up 0.8 percent however, it remains well below levels from a few months ago. </p>
<p>Looking at recent monthly data it suggests that demand from owner occupiers has been reasonably steady while the level of demand from investors has eased. </p>
<p>Keep in mind that this data pre-dates the most recent policy announcement from APRA; over the coming months there are likely to be a number of headwinds for investors in the form of: higher mortgage rates, reduced availability of interest-only lending and changes to depreciation benefits for plant and equipment on investment property for new purchases. </p>
<p>Given this we would expect that investor demand is likely to fall further over the coming months.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/24/chart-2-2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/24/chart-2-2.jpg" alt=""></p>
<p>Owner occupier demand continues to be fueled by purchases of established housing stock while refinance activity continues to fade. </p>
<p>The $20.2 billion in housing finance commitments to owner occupiers consisted of $1.8 billion for construction of dwellings, $1.1 billion for purchase of new dwellings, $6.1 billion for refinancing of established dwellings and $11.1 billion for purchase of other established dwellings. </p>
<p>The value of lending for construction and purchase of new dwellings has remained at fairly consistent levels over the past year and a half. </p>
<p>The value of refinancing has been trending lower since it peaked in December 2015 and it is now at its lowest level since July 2015. </p>
<p>At the same time, demand for purchases of established dwellings is trending higher and is at its highest level since September 2015.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/24/chart-3-2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/24/chart-3-2.jpg" alt=""></p>
<p>Mortgage demand from investors overwhelmingly comes from investors buying established housing rather than new housing. </p>
<p>The $13.0 billion worth of commitments in March 2017 consisted of $1.1 billion from construction of dwellings and $11.9 billion from established housing. </p>
<p>The $1.1 billion in commitments for construction was 6.1 percent higher over the month while the $11.9 billion for established housing is 0.3 percent higher over the month. </p>
<p>The value of lending for investors for established housing is now down -4.6 percent from its most recent peak two months ago and -12.5 percent lower than its historic peak in April 2015.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/24/chart-4-2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/24/chart-4-2.jpg" alt=""></p>
<p>Comparing established housing to new housing continues to show that the bulk of housing demand is coming from established housing stock. </p>
<p>Over the month, 85 percent of mortgage demand (excluding refinances) was for established housing stock ($23.0 billion) with the remaining 15 percent ($4.0 billion) for new housing stock.</p>
<p>The data is pointing to ongoing weaker demand from the investor segment of the market and refinances from owner occupiers slowing while demand from owner occupiers for established housing stock is trending higher. </p>
<p>With the lending environment continuing to change, particularly for investors, we would expect that demand from investors will continue to wane. </p>
<p>Higher interest rates, the rationing of the availability of interest-only lending and reduced negative gearing benefits is likely to weigh on investor demand over the coming months.</p>
<p><em>Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></p>
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ckusher-ujnxiKuFQs

Investor mortgage demand continues to wane: Cameron Kusher

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<p>Interstate migration to Queensland is picking up again as expected as folks head north from crowded and pricey Sydney, but it was the record interstate migration to Victoria which really shot the lights out over the year to September. </p>
<p>The driver of this is clear, since Victoria alone has been creating almost all of Australia's jobs lately.</p>
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<br>Net overseas migration also accelerated into Sydney, Melbourne, and south east Queensland.</div>
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<br><div>As a result the most populous states are mopping up a huge share of population growth, with New South Wales and Victoria alone accounting for 68 percent of the population increase, and Queensland a further 19 percent. </div>
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<br><div>Absolute population growth increased to 67,700 in Queensland and a massive 109,600 in New South Wales - mainly into Greater Sydney - but Victoria is breaking demographic records not seen since the gold rush, with the total population exploding 127,500 higher over the year to September. </div>
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<br><div>Here are those same numbers looked at over the past three years, with South Australia and Western Australia losing momentum, and the largest capital cities gaining population growth at their expense. </div>
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<div>The massive headcount growth into Melbourne in particular explains why residential housing vacancy rates have been falling, close to a decade low at the last count.<br><br>
</div>
<div>Despite many new tower blocks adorning the skyline, a record supply of small apartments has only partially absorbed a vast surge in migration to the Victorian capital.</div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Melbourne crowned king of jobs and growth

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<p class="BodyCopy">Local government areas just beyond the Melbourne metropolitan area are increasingly attracting the attention of home buyers and investors.</p>
<p class="BodyCopy">The big attractions are relatively low prices, a more relaxed lifestyle and the ability to commute to city jobs nodes.</p>
<p class="BodyCopy">The standout areas are Cardinia Shire in the far south-east and both Mitchell Shire and Macedon Ranges Shire north of the capital city. Sales activity has increased significantly in all three LGAs in the past 12 months.</p>
<p>Of course the LGA just beyond Melbourne with the strongest market is the City of Greater Geelong, which continues to be unchallenged as the clear market leader in regional Victoria – and one of the strongest markets nationwide.</p>
<p>Hotspotting research for the new Autumn edition of <em>The Price Predictor Index</em> finds that the Geelong LGA has seven rising markets, as well as 13 steady markets, which outranks most of the LGAs in metropolitan Melbourne.</p>
<p class="BodyCopy">Markets doing well in the Geelong region include Norlane, Armstrong Creek, Belmont, Clifton Springs, Geelong West, Newcomb and Waurn Ponds.</p>
<p class="BodyCopy">Most of the busiest locations in Greater Geelong are locations at the affordable end of the market, reinforcing the region’s appeal as a cheaper lifestyle alternative to Melbourne.</p>
<p class="BodyCopy">But, Geelong aside, there are a number of municipalities just outside the Melbourne metropolitan area have rising markets because they, too, provide affordable lifestyle options within reasonable commuting distance of city jobs nodes.</p>
<p class="BodyCopy">The Shire of Cardinia is a neighbour of the City of Casey, one of Melbourne’s strongest population growth areas in the far south-east of the metropolitan area. It includes towns such as Pakenham and Officer which are getting spill-over growth and have steadily growing property markets.</p>
<p class="BodyCopy">Sales in Pakenham have been 215, 253, 277 and 290 in the past four quarters, while Officer sales have grown from 23 to 40 to 49 to 55 in the same time frame.</p>
<p class="BodyCopy">The Macedon Ranges and Mitchell LGAs are rural areas north of Melbourne and are attracting growing attention for their affordable country towns with good road and rail links to the city.</p>
<p class="BodyCopy">Sales activity is rising in towns like Kilmore and Wallan in Mitchell Shire and Gisborne and Kyneton in the Macedon Ranges LGA.</p>
<p class="BodyCopy">Median prices include $330,000 in Kilmore, $240,000 in Seymour, $280,000 in Broadford and $360,000 in Wallan, which emphasises the affordability attraction. Another part of the appeal is median rental yields in the 5 percent to 5.5 percent range.</p>
<p class="BodyCopy">Larger Victorian regional centres like Bendigo and Ballarat continue to present steady real estate markets, without delivering any substantial growth. Both these cities have more suburbs with steady sales activity and solid performance than those with growing activity.</p>
<p class="BodyCopy">There are plenty of solid regional centres with similar stories throughout the rest of the state - including Warrnambool, Mildura, Wodonga, Sale Echuca and Wangaratta – but there is nothing in the sales numbers to suggest strong price growth in the near future.</p>
<p class="BodyCopy">Mildura features on our National Top 50 list for highly consistent markets. Every quarter for the past two years has recorded between 205 and 235 dwelling sales in Mildura.</p>
<p class="BodyCopy">But the growth markets in regional Victoria are generally found among the smaller centres.</p>
<p class="BodyCopy">Smaller regional centres with growing sales activity – in addition to the towns of Mitchell Shire and Macedon Ranges Shire - include Ararat, Bacchus Marsh, Bairnsdale, Bannockburn, Castlemaine, Colac, Portland and Traralgon.</p>
<p class="BodyCopy"><span>T</span><em>erry Ryder is the founder of </em><a href="https://www.hotspotting.com.au/"><span class="s2"><em>hotspotting.com.au</em></span></a><em>. You can  </em><a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E"><span class="s2"><em>email him</em></span></a><em> or follow him on </em><a href="https://twitter.com/hotspotting"><span class="s2"><em>Twitter.</em></span></a></p>
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City of Greater Geelong one of the strongest markets nationwide

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<div>Today's Lending Finance figures from the ABS showed that total lending is trending down from a relatively high level. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/13/C3.jpg" target="_blank">Click to enlarge</a></p>
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<div> </div>
<div>You'll have to subscribe for my reports to get the industry level insights as there isn't enough space for them here, but summarily commercial lending to businesses is rather struggling along. </div>
<div><strong><span style="text-decoration: underline;"> </span></strong></div>
<div><strong><span style="text-decoration: underline;">Reflexivity in action</span></strong></div>
<div> </div>
<div>I will just take a quick look at property investor loans here, though, as this is always a popular data series. </div>
<div>
<br>The value of investor loans is still trending down in Western Australia, though of course the median value of property has also declined. </div>
<div> </div>
<div>Most of the recent resurgence in investor lending since the ALP pledged to quarantine negative gearing deductions to new builds has been seen in Sydney and then Melbourne, in that order. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/04/13/C1.jpg" target="_blank"> Click to enlarge</a></p>
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<p><br><span>Meanwhile, investors continue to give Darwin the cold shoulder.</span></p>
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<div>Paradoxically, macroprudential policies implemented at the national level are needed by many of Australia's declining housing sub-markets like a hole in the head. </div>
<div> </div>
<div>That's ultimately why investors need to focus on quality - it doesn't necessarily matter all that much what 'the' Aussie housing market is doing, rather that the property or properties you own is doing relatively better than the rest! </div>
<div> </div>
<div>This is particularly true now that banks are becoming far less inclined to extend loans to investors for large portfolios, while implementing tighter serviceability criteria. </div>
<p> </p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Investors pile into Sydney: Pete Wargent

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<p>I can’t see anything that would compel an investor to buy in Sydney right now, other than the FOMO (fear of missing out) syndrome.</p>
<p>Given four years of strong price growth in Sydney, and the proliferation of attractive alternatives around the nation, it’s not surprising that surveys indicate that many investors are looking elsewhere. The best time to buy in Sydney was 2012, ahead of the marauding pack.</p>
<p>But some people want to buy only in Sydney, especially those who live in the city and believe you have to buy in your own backyard (so you can drive by and keep an eye on it).</p>
<p>For people who think that way, the best strategy is the follow the infrastructure trail – particularly the one created by plans for the second airport.</p>
<p>The Federal Government announced in the Budget it would invest $5.3 billion into the Western Sydney Airport Corporation over the next 10 years. </p>
<p>The corporation will build and operate the Western Sydney Airport, with earthworks expected to start on the 1,800 hectare Badgerys Creek site in the second half of 2018.</p>
<p>Even more important than the airport itself is what will be created around it. Big city airports generate massive employment nodes featuring businesses that want to be near it.</p>
<p>Commercial and industrial businesses will be clambouring to get a foothold near the airport facility. We’ve already had American defence company Northrop Grumman announcing it will invest $50 million to create a centre of excellence in the Badgerys Creek precinct.</p>
<p>Expect a lot more announcements like this. Many businesses will be established there before the first plane takes off.</p>
<p>Sydney Business Chamber’s western Sydney director David Borger says: “I think it is really significant. We’ve always thought this airport area could be an aerotropolis or airport city with lots of jobs nearby, and one of the areas that has great potential is aerospace and defence.</p>
<p>“To have, within a week of the government deciding to build the airport, a decision by the private sector to establish a centre of excellence in aerospace and defence is fantastic news and we hope it will be the start of a massive business park in the precinct around the airport.”</p>
<p>Borger says the big winner may be western Sydney families, with the aerotropolis set to create thousands of local jobs and a better lifestyle. “The biggest challenge facing western Sydney is the jobs deficit of 300,000 people,” he says. “People have to get out of the region for work, so the airport could be a real game-changer.”</p>
<p>Exactly. People want to live close to where they work, so demand for real estate will be strong as the Badgery’s Creek precinct evolves.</p>
<p>We’ve already seen considerable impact. Residential land values in the outer-western suburbs of Sydney have close to doubled over the past five years, with the Badgerys Creek airport as the prime influence.</p>
<p>A NSW Valuer-General’s report shows that housing land in outer-western suburbs including Mulgoa, Luddenham, Bringelly, Horsley Park and Rossmore has become highly sought-after residential property — in some cases rising in value above city trends. </p>
<p>The biggest jumps in valuation have been over the past two years, in the time since (then) Prime Minister Tony Abbott announced that Badgerys Creek would be the site of the second airport.</p>
<p>The Valuer-General’s data shows the biggest gains in land value have occurred south of Badgerys Creek at Bringelly.</p>
<p>The value of one 2ha rural property jumped from $700,000 in 2012 to $1.45 million last year. A 1018m<sup>2</sup> property’s value jumped from $270,000 to $592,000 over the same period.</p>
<p>The value of a typical block in Luddenham almost doubled in value between 2012 and last year, from $475,000 to $924,000, while the value of another Luddenham site rose from $755,000 to $2.7 million.</p>
<p>We can expect this kind of capital growth to continue as the airport – and the employment nodes that will spring up around it – get closer to reality.</p>
<p class="Body"><span>Terry Ryder is the founder of </span><a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a><span>. You can </span><a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a><span> or follow him on </span><a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></p>
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Local property price growth takes off around Badgerys Creek: Terry Ryder

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<p>Data released by the Australian Prudential Regulation Authority (APRA) earlier this week has shown that high loan to value ratio (LVR) lending continues to fall indicating new buyers are in many instances using larger deposits. </p>
<p>The latest authorised deposit-taking institution (ADI) property exposures data for the March 2017 quarter revealed the ongoing trend as a moderate pull-back in the share of new interest-only mortgage lending however, there will be a lot more work to do for lenders in this space.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/31/Chart-1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Chart-1.jpg" alt=""></p>
<p>The data showed that over the March 2017 quarter there was $89.257 billion in mortgage lending from the ADIs which was the lowest quarterly value of lending since the same quarter last year. </p>
<p>Of course, part of this is seasonal due to the Christmas / New Year slowdown and lending over the quarter was 9.5 percent higher than the corresponding quarter last year. </p>
<p>Over the quarter 65 percent of lending was to owner occupiers ($58.009 billion) with the remaining 35 percent ($31.248 billion) to investors. </p>
<p>The value of lending to owner occupiers was 3.9 percent higher year-on-year while investor lending was 21.7 percent higher.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/31/Chart-2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Chart-2.jpg" alt=""></p>
<p>There is currently a big focus on interest-only lending with APRA recently announcing policy changes which limit the value of new interest-only lending to less than 30 percent of the flow of total new mortgage lending.</p>
<p>Over the latest quarter, 36.2 percent of the value of total mortgage lending was for interest-only purposes signifying that further rationing of this type of lending is required. </p>
<p>Although as a proportion of total lending interest-only lending has slowed, the value of this type of lending has increased by 13.8 percent from the same quarter last year. </p>
<p>Importantly, interest-only lending peaked at 45.6 percent of the value of total new lending over the June 2015 quarter, so as a proportion of total lending it has already fallen substantially but has quite a way further to slow over the coming quarters as lenders work to meet the new 30 percent APRA benchmark by rationing the availability of this type of mortgage.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/31/Chart-3.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Chart-3.jpg" alt=""></p>
<p>Low documentation ($377 million), non-standard ($142 million) and outside of serviceability loans ($1.461 billion) accounted for a cumulative 2.2 percent of new lending over the quarter. </p>
<p>Although this was an historic low proportion, it should be noted that in value terms, low documentation (+42.5 percent) and non-standard (+21.6 percent) loans have increased over the year while outside of serviceability mortgages are -59.4 percent lower.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/31/Chart-4.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Chart-4.jpg" alt=""></p>
<p>Over the quarter, $6.896 billion in new mortgages written had an LVR of greater than 90 percent. </p>
<p>This represents the lowest value of new mortgage lending for LVRs above 90 percent since March 2011. </p>
<p>It also indicates that 90 percent + LVR mortgages accounted for just 7.7 percent of all new mortgages over the quarter which was an historic low proportion. </p>
<p>If you look at new mortgages with an LVR greater than 80 percent, they accounted for 22.0 percent of lending which is also an historic low. </p>
<p>This indicates that borrowers are using either larger deposits upon entry to the market or using greater equity in their existing properties.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/31/Chart-5.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/Chart-5.jpg" alt=""></p>
<p>According to the data, the average outstanding mortgage balance was recorded at $259,400 at the end of March 2017 which was 0.8 percent higher over the quarter and 3.9 percent higher over the year. </p>
<p>By loan type, the average outstanding balances were recorded at: $314,100 for loans with an offset facility, $346,100 for interest-only mortgages, $100,100 for reverse mortgages, $193,100 for low-documentation loans and $185,600 for other non-standard loans. </p>
<p>Other non-standard loans were the only mortgage type to see a fall in outstanding balance over the year, -4.0 percent lower while the average outstanding balance for interest-only mortgages recorded the greatest rise, 4.2% higher.</p>
<p>The reduction in new lending to higher LVR borrowers is encouraging from a risk perspective with borrowers typically utilising larger deposits. </p>
<p>While the proportion of lending for interest-only purposes has slowed, it has much further to fall over the coming quarters as lenders seek to reign interest-only lending in to less than 30% of the new flow of lending. </p>
<p>With interest-only lending favoured by investors it may lead to a slowing in demand from this segment. </p>
<p>Keep in mind that borrowers utilising interest-only mortgages are assessed on their ability to repay a principal and interest loan. </p>
<p>Given this there is the possibility that the impact on investor demand may be minimal as they choose to just use a principal and interest loan rather than interest-only.</p>
<p>Investors face a broadening range of disincentives in the market, with mortgage rates for investment purposes up more than 25 basis points compared with their low point last year, record low rental yields and overall tighter credit policies from lenders. </p>
<p>Additionally, there seems to be growing acceptance that the housing market is losing some momentum which is likely to further weigh on investor purchase decisions.</p>
<p><em>Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.</em></p>
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High LVR lending is easing up with a further slowdown expected: Cameron Kusher

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<p>SQM Research posted its listings figures which suggested "ongoing strength" in the housing market. </p>
<p>Listings were somewhat higher in the month in Brisbane and Sydney (though miles below the peak of around 44,000 in the case Sydney). </p>
<p>Melbourne's market continues a multi-year trend of tightening since 2012, while Hobart arguably has the tightest market of all of the capital cities.  </p>
<p><a href="https://www.propertyobserver.com.au/images/2017/06/07/SQM1.jpg" target="_blank">Click to enlarge</a></p>
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<br><div>Indeed, both Melbourne (-19.5 percent) and Hobart (-18.9 percent) have recorded enormous year-on-year declines in total stock listings. </div>
<div> </div>
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<br><div>Melbourne recorded a massive near 6 percent uplift for houses in the month, for a 22.6 percent annual increase. </div>
<div> </div>
<div>The Melbourne housing market is performing extremely bullishly, echoing out-performance in the local economy.</div>
<div> </div>
<div>It's also worthy of note that the annual change in listings in resources cities has flattened, after increasing for a long period of time. </div>
<p> </p>
<p><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></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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Listings suggest ongoing strength: Pete Wargent

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<p class="p1"><span style="font-size: 12.16px;">The number of auctions held this week saw a significant decrease, with 1,265 properties taken to market across the combined capital cities, down from 2,578 over the week prior. </span></p>
<p class="p1"><span style="font-size: 12.16px;">The decrease in auction activity this week is attributable to the Queen’s Birthday public holiday this Monday, which has affected activity across most states, including Australia’s two largest auction markets. </span></p>
<p class="p1"><span style="font-size: 12.16px;">The lower volume is consistent with what is historically seen over this period, with 1,100 auctions reported over the same week last year. Last week saw the final auction clearance rate revise lower to reach 69.8 percent; an equal second lowest clearance rate for the year so far.  </span></p>
<p class="p1"><span style="font-size: 12.16px;">The final clearance rate last week was the lowest over 2017 to date in Sydney and Melbourne.  </span></p>
<p class="p1"><span style="font-size: 12.16px;">This week the preliminary auction clearance rate increased slightly to 71.8 percent, however it is typical to see clearance rates revise lower as final results are collected.</span></p>
<p class="p3">Click to enlarge</p>
<p class="p3"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/13/20170612-Cap-city.jpg" alt=""></p>
<p class="p4"><span class="s1">Across <strong>Melbourne</strong>, this week’s preliminary clearance rate was recorded at 77.1 per cent, up from 73.1 per cent last week and remaining well above the clearance rate for the city one year ago (64.5 per cent). This week, Melbourne was host to 392 auctions, lower than the 1,188 held last week, but higher than a year ago when there were 341 Melbourne auctions held over the week. Of the 9 individual Melbourne sub-regions, this week the strongest performer, in terms of clearance rate was the North West. So far, CoreLogic has collected 29 results for the region and the preliminary result shows 89.7 per cent of these auctions were successful.</span></p>
<p class="p3">Click to enlarge</p>
<p class="p3"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/13/20170612-Melbourne.jpg" alt=""> </p>
<p class="p4"><span class="s1"><strong>Sydney’s</strong> preliminary clearance rate this week was 71.3 percent across 457 auction results. There were a total of 610 auctions held across the city. Looking back at this weekend last year, 463 auctions were held across Sydney and a clearance rate of 74.1 percent was recorded. </span></p>
<p class="p4"><span class="s1">Sydney’s North Sydney and Hornsby hosted the most auctions of any Sydney sub-region this week, with 100 properties taken to auction. The preliminary clearance rate for the region is 75.8 percent across 66 results.</span></p>
<p class="p3">Click to enlarge</p>
<p class="p3"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/13/20170612-Sydney.jpg" alt=""></p>
<p class="p4"><span class="s1">There were 112 <strong>Brisbane</strong> auctions this week with a preliminary clearance rate of 64.8 percent, having increased from 42.5 percent last week across 151 auctions and higher than one year ago when there were 142 auctions with a success rate of 46.3 percent. The <strong>Gold Coast’s</strong> preliminary clearance rate was 51.6 percent across 31 results this week.</span></p>
<p class="p3">Click to enlarge</p>
<p class="p3"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/13/20170612-Brisbane.jpg" alt=""></p>
<p class="p4"><span class="s1">This week, <strong>Adelaide</strong> saw a preliminary clearance rate of 73.9 percent, with 46 reported results across a total of 66 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 59.3 percent and 75.4 percent one year ago.</span></p>
<p class="p3">Click to enlarge</p>
<p class="p3"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/13/20170612-Adelaide.jpg" alt=""> </p>
<p class="p4"><span class="s1">There were 42 <strong>Perth</strong> auctions this week and so far 12 results have been reported, with just 50.0 percent selling. Last week there was a 47.6 percent clearance rate for Perth.</span></p>
<p class="p4"><span class="s1"><strong>Canberra’s</strong> preliminary auction clearance rate of 66.7 percent this week is lower than last week, when the final auction clearance rate was 68.6 percent and lower than the 73.9 percent recorded last year.</span></p>
<p class="p4"><span class="s1"><strong>Tasmania</strong> saw 4 auctions take place this week, 3 results have been reported so far, with 2 sales.</span></p>
<p class="p1"><span class="s1"><em>Cameron Kusher is head of research for CoreLogic. You can contact him </em><a href="https://blog.corelogic.com.au/about/"><span class="s2"><em>here</em></span></a><em>.</em></span></p>
<p class="p4"><span class="s1"> </span></p>
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