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?

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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Houses in Newcastle, the New South Wales Central Coast and Coffs Harbour are at the peak of market, according to valuation firm Herron Todd White’s June property clock.
Melbourne, the Gold Coast and South East NSW are approaching the peak market.
Houses in Cairns, Gladstone and Mackay are at the bottom of the market. 
Toowoomba’s housing market was noted as starting to decline in the May property clock.
Last month HTW said in relation to the Toowoomba housing market there is currently an oversupply of residential products, particularly units, that emerged during 2016.
As a result vacancy rates have increased while rental rates and investor interest has reduced.
“While properties in the sub $400,000 market have showed some signs of regression in value and rental rates, it appears that higher end property above $600,000 and even the $1 million plus price point have enjoyed a good level of interest with some strong sales being achieved,” the May report stated.
<a href="https://www.propertyobserver.com.au/images/2017/06/06/Screen%20Shot%202017-06-07%20at%209.27.21%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/06/Screen%20Shot%202017-06-07%20at%209.27.21%20AM.png" alt="">
HTW's June report concentrated on the renovation market, stating that renovations are popular now in the NSW Central Coast.
In their June report, HTW said some reasons for renovating are to make an income, improve the value of a property or overcome the need to shift homes, meaning the kids can remain at the same school and a longer commute to work can be avoided.
"Closely aligned with adding value, those starting out with limited budgets or borrowing capacity buy in less expensive areas and carry out renovations to increase their equity.
"Although not definitive, a good gauge of what stage the property cycle is at can be seen from the valuation requests we receive. We can analyse this from the property type and specifics of the request – for a new purchase, a change from one lender to another or funds required to carry out renovations or extensions.
"Lately, there has been a slight increase in renovation or extension on completion assessments.
"This tells us the market cycle is on the move again and this generally follows a period of growth where values of home purchases are getting beyond many upgraders and a decision is made to stay and renovate rather than move. 
We are seeing this growing in many parts of the central coast region.
"From our perspective, we see more valuation requests received for owner-occupiers seeking funds to carry out renovations.
"We believe the reason for this is that owner-occupiers tend to spend more on renovations or extensions to improve personal comfort or functionality with the medium to long term in mind – think that often used term ‘forever home’.
"Whereas, investors usually spend less on make overs and use their own funds with the prime motivation of increasing the returns for as small an outlay as possible.
"Properties available for renovation can be located close to the main centres or the beach and lakefront areas. They’re the ones advertised as having enormous potential, renovate or detonate, suited for tradies and similar. They can just as easily be located in those suburbs previously seen as undesirable but thanks to the strong market over the past few years, have proven affordable to new entrants in the market. Suburbs that spring to mind in this region include Narara, Niagara Park, Killarney Vale and Berkeley Vale."
HTW said property in Newcastle is at the point of the cycle where it’s a fine line between upsizing your current dwelling or simply staying put and adding value to your existing home with an extra couple of rooms.
"The option to stay and extend is attractive when you look at the savings you would make on the transactional aspect of moving to a new home," HTW said.
"You save stamp duty, agent’s fees, finance charges and moving costs which on a reasonable home can be close to $100,000 in real dollars. Utilising that money on your extension can really kick start your plans. 
"The key driver of the Newcastle and Lake Macquarie markets at present is the lack of stock available; essentially the supply side is very low. When you have a low supply side, as long as demand is reasonable and constant, this can place upward pressure on prices. This in turn raises values and in many cases the price has increased enough to set a new benchmark level for your land.
"The increased price of the underlying land may be such that it is economic to knock down your existing home and build a brand new house.
"As an example, you may have purchased your home originally for $350,000 in 2005. Your house may be worth $650,000 now (not unreasonable here in Newcastle). Your underlying land value might be $450,000 which far outstrips your initial purchase price and makes building a brand new home where you currently live more feasible.
"We note that builders’ prices and waiting periods are signi cantly up across the board which indicates strong demand for renovations and extensions. We often see builders’ trucks in quiet suburban streets clogging up both sides of the road with extensions and small building projects.
"Anecdotally the home renovation boom is very much the avour of the moment with the number of renovation programs on TV indicative of current trends. At present, in strong localities it appears quite hard to over capitalise with sales seemingly attaining record prices on a weekly basis."
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jonathanchancellor-7SQnKwU6yx

Newcastle, Central Coast and Coffs Harbour houses at market peak: HTW

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Collinsville is the cheapest locality in Queensland to purchase a house, according to Investar’s latest report.
The property investment firm says that the median price of a house is $95,000.
This is followed by Dysart with $99,000 and Blackall at $100,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="93">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="122">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="93">
Collinsville
</td>
<td valign="top" width="64">
4804
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="122">
$95,000
</td>
</tr>
<tr>
<td valign="top" width="93">
Dysart
</td>
<td valign="top" width="64">
4745
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="122">
$99,000
</td>
</tr>
<tr>
<td valign="top" width="93">
Blackall
</td>
<td valign="top" width="64">
4472
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="122">
$100,000
</td>
</tr>
<tr>
<td valign="top" width="93">
Mount Morgan
</td>
<td valign="top" width="64">
4714
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="122">
$127,000
</td>
</tr>
<tr>
<td valign="top" width="93">
Charleville
</td>
<td valign="top" width="64">
4470
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="122">
$130,000
</td>
</tr>
</tbody></table>
A two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-collinsville-125505618" target="_blank">30 Garlton Street</a>, Collinsville (above) has been listed for $70,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/property-house-qld-collinsville-125559110" target="_blank">96 Garrick Street</a>, Collinsville (below) has been listed for $88,000.
<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/2017/06/07/96%20Garrick%20Street.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Collinsville houses available under $100,000: Investar

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Burnie is the cheapest locality to purchase a unit in Tasmania, according to Investar’s latest report.
The property investment firm says that the median price of a unit in Burnie is $139,000.
This is followed by East Devonport with $149,000 and Launceston with $155,000.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Postcode
</td>
<td valign="top" width="106">
Bedrooms
</td>
<td valign="top" width="106">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="106">
Burnie
</td>
<td valign="top" width="106">
7320
</td>
<td valign="top" width="106">
2
</td>
<td valign="top" width="106">
$139,000
</td>
</tr>
<tr>
<td valign="top" width="106">
East Devonport
</td>
<td valign="top" width="106">
7310
</td>
<td valign="top" width="106">
2
</td>
<td valign="top" width="106">
$149,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Launceston
</td>
<td valign="top" width="106">
7250
</td>
<td valign="top" width="106">
Studio and 1
</td>
<td valign="top" width="106">
$155,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Newnham
</td>
<td valign="top" width="106">
7248
</td>
<td valign="top" width="106">
2
</td>
<td valign="top" width="106">
$160,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Upper Burnie
</td>
<td valign="top" width="106">
7320
</td>
<td valign="top" width="106">
2
</td>
<td valign="top" width="106">
$164,000
</td>
</tr>
</tbody></table>
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-burnie-124780074" target="_blank">5/47 North Terrace</a>, Burnie (above) has been listed for $112,500.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-tas-burnie-124390686" target="_blank">25/47 North Terrace</a>, Burnie (below) has been listed for $109,000.
<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/2017/06/07/25_47%20North%20Terrace.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-tas-burnie-124424298" target="_blank">3/70 Moody Street</a>, Burnie (below) was recently sold for $150,000.
<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/2017/06/07/3_70%20Moody%20Street.jpg" alt="">
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-tas-hillcrest-124424310" target="_blank">4/3 Hayes Street</a>, Hillcrest (below) was recently sold in January this year for $132,000.
<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/2017/06/07/4_3%20Hayes%20Street.jpg" alt="">
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Burnie the cheapest Tasmanian locality to buy a unit: Investar

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Earmarked as a growth hotspot, Oran Park offers an affordable, new community, according to Savills’ latest report.
Across Oran Park, the median house and land price is currently $766k, offering a 28.3 percent discount compared to the average across Sydney.
It noted the median price for a vacant land site is $400,000.
“Prices have increased significantly since the first homes were sold in 2010," Savills head of research Sophie Chick noted.
“Over the past five years, the median price has increased by 67 percent and 71 percent for a house and land package and a vacant land site respectively.
“As well as appealing to purchasers as their primary residence, Oran Park attracts a number of investors.
“This provides rental accommodation for families looking for more space as well as residents currently building their home in the area.
“The median weekly rent for a house in Oran Park is $570 resulting in an average yield of 4.0%.
“This is higher than the Sydney average of 3.2 percent and as such, attracts property investors looking for higher income returns,” the report stated.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-oran+park-421131542" target="_blank">48 Thorpe Circuit</a>, Oran Park (above) is available for rent for $580 per week.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-oran+park-421236914" target="_blank">9 Hansford Street</a>, Oran Park (below) is available for rent for $550 per week.
<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/2017/05/31/9%20Hansford%20Street.jpg" alt="">
One third of residents in Oran Park are employed locally according to Savills.
“Across the Local Government Area of Camden, families with children account for nearly 60% of the residents.
“Growing families are attracted to the area due to the space and value on offer in comparison to other areas in Sydney as well as the community environment, which Oran Park is creating.
“Camden residents work in a range of locations.
“One third of residents are employed locally and a further third commute to neighbouring Campbelltown and Liverpool.
“Sydney CBD is the next largest employment region with 6.4% of Camden residents making the commute,” the report commented.
Savills head of research Sophie Chick says that development for Oran Park is forecasted to continue.
“The development activity in Oran Park is forecast to continue as the new town is formed and a community is created.
“Over the next ten years, the population is expected to more than quadruple in size to 21,500 people living in 7,500 homes.
“In addition to the ongoing residential development, the plans for Oran Park consist of 18 hectares of employment land, including a town centre and open space.
“Collectively, this is likely to increase the desirability of the area for existing and new residents as well as creating local jobs.
“As a suburb within the Government’s South West Priority Growth Area, Oran Park is part of a wider plan to improve housing availability, infrastructure and employment opportunities across the area.”
For more information go to Savills' home <a href="https://www.savills.com.au" target="_blank">page</a>.
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Oran Park earmarked as an affordable Sydney locality: Savills

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<img src="https://counter.theconversation.edu.au/content/78177/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Tourists are drawn to cities by a myriad of attractions and activities.
Some cities are blessed with iconic attractions that are on every visitor’s “must see” list – the Opera House and Harbour Bridge in Sydney, for example. 
Other cities rely on a more eclectic mix of “sights and sounds” to lure increasingly well-informed and diverse visitors. For instance, Australia’s second-largest city, Melbourne, has at various times promoted itself as the nation’s “sports and events capital”, the “arts and culture capital” and, more recently, as the “street art capital”. 
Street art, also known as graffiti, has not always had strong community support. The proliferation of the “art form” has many strident critics. For example, Graffiti Hurts spokesman Scott Hilditch complained that funding a mobile phone app to guide users around Melbourne street art sites would glorify graffiti vandalism. 
Yet there is no denying the growth of street art and the popularity of sites around inner-city Melbourne. On a sunny afternoon in the city’s laneways, you are likely to see a range of local and international visitors, some posing for photos in front of freshly painted walls, others passing by on their way to a nearby cafe for a flat white. 
You may see see local “artists” guiding groups on street art tours. You may even see newlyweds looking for that quintessentially Melbourne photo for their wedding album. 
 
Despite questions about the legality, and perhaps morality, of street art, its popularity is undeniable. Melbourne’s laneways and their street art have become a major drawcard. In a 2008 Lonely Planet poll, Melbourne’s laneway street art was voted Australia’s top “cultural attraction”. 
If social media counts (which it most certainly does), Hosier Lane, the epicentre of Melbourne street art, has arguably become the city’s premier tourist destination. It attracts significantly more Instagram hashtags than traditional destinations like Melbourne Zoo or Federation Square. 
Regardless of social and political disapproval, the proliferation of Melbourne’s street art does provide a point of distinction in an era of growing competition between cities.
City destinations are having to find new and creative ways to distinguish themselves from the rest. Numerous local and international websites, blogs and books have recognised Melbourne as Australia’s “street art capital” over the past decade. 
In turn, street art images have been selectively packaged and promotedto boost the city’s “creative” and “vibrant” image. The Melbourne City Council website recognises “the importance of street art in contributing to a vibrant urban culture”, and acknowledges:
Melbourne’s street art has become internationally renowned and has become an attraction for local and overseas visitors experiencing Melbourne’s creative ambience.
Despite this, the council seems at pains to differentiate between “graffiti” and “street art”. Melbourne City has a web page explaining to both artists and property owners the legalities of street art. 
The council refers to research and community consultations as the basis for its Graffiti Management Plan. According to its “Street Art” webpage, these revealed that:
… most people do not like graffiti ‘tagging’ … However, many people appreciate ‘street art’ such as larger, more artistic pieces, or murals placed in appropriate locations with the required permission.
However, trying to separate the two is problematic. Many street artists engage in both forms of “writing” – the term street artists use to describe their production of graffiti or street art. 
Although it’s broadly recognised by the City of Melbourne as adding to the city’s cultural aesthetic, relatively little is understood about the economic value of street art. Measuring its economic value to the city is challenging. But creative tourism forms such as this clearly have their merits as tourists increasingly seek out “alternative public spaces” in search of creative landscapes and authentic experiences. 
Thus, it’s possible that creative tourism is more valuable than conventional tourism. 
Certainly, Melbourne is increasingly well known for its “laneway galleries”, however challenging the management of this ephemeral attraction might be for governments.
Ryan Jopp is lecturer in Tourism and Management, Academic Director (Education Quality and Assurance), Swinburne University of Technology and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/ryan-jopp-379405" target="_blank">here</a>.
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Melbourne’s love-hate relationship with being Australia’s ‘street art capital’

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GUEST OBSERVER
Today’s headline print for Q1 was weak, with real GDP growth of 0.3% q-o-q and 1.7% y-o-y (market had 1.6%). 
But most of the weakness is weather-related and therefore temporary. Cyclone Debbie and wet weather on the East coast weighed on housing construction and exports. 
Timely indicators already suggest a bounce back. 
A clearer read of underlying conditions may be gleaned from surveyed business conditions, which are around decade-highs. And why shouldn’t they be? Corporate profits are up 30% y-o-y and nominal GDP rose by 7.7% y-o-y, its fastest pace in over five years.
 Add to this, Australia just set a new record for developed world growth, with a 26 year boom! If yesterday’s RBA announcement is any guide, the central bank is largely ignoring the volatile, weather-effected GDP numbers and looking at the business and labour market surveys, which still show trend improvement. We see the RBA on hold this year and a hike in early 2018.
<a href="https://www.propertyobserver.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%207.57.24%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%207.57.24%20AM.png" alt="">
Facts 
Real GDP rose by 0.3% q-o-q in Q1, to be 1.7% higher y-o-y. 
Household consumption rose 0.5% q-o-q to be 2.3% higher y-o-y. Dwelling investment fell by -4.4% q-o-q and -2.5% y-o-y. Business investment rose 0.7% q-o-q but was down -2.8% y-o-y. Public demand lifted by 0.2% q-o-q and 5.3% y-o-y. Overall, domestic demand (GNE) rose 0.8% q-o-q and 2.4% y-o-y. This was the strongest annual rate of growth in GNE since Q4 2012. 
Net exports were a significant drag on growth in the quarter, with export volumes falling 1.6% q- o-q and imports lifting by 1.6%. Net exports subtracted -0.7ppts from the quarterly growth rate and 0.4ppts from year-ended growth. 
Real gross domestic income rose by 1.7% q-o-q to be 6.5% higher y-o-y. Real net national disposable income per capita rose by 0.8% q-o-q and 4.0% y-o-y. 
Nominal GDP rose by 2.3% q-o-q and 7.7% y-o-y, boosted by a 6.6% q-o-q and 24.8% y-o-y lift in the terms of trade. 
The household saving ratio fell from 5.1% to 4.7%. 
Implications 
Australia’s sets 26-year growth record! That could have been the headline for this piece. Having just clicked past 103 quarters of continuous GDP growth without a technical recession, Australia has just overtaken the Netherlands to have the longest boom of any developed economy. For those interested, the Dutch economy had 102 quarters of continuous expansion between 1982 and the 2008 Global Financial Crisis (although there is some debate about whether the Dutch had a technical recession in 2003). Whatever the technicalities, the bottom line is that Australia has now had the longest boom (Chart 1). 
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Instead, the market is focused on the weak quarterly print, which has been largely driven by the weather! Hence our title. 
Today’s numbers showed that real GDP growth slowed to 0.3% in Q1, from 1.1% in Q4 2016. Of course, the 1.1% was a bit overstated, as it was a bounce back from the surprising -0.4% fall in Q3 2016. As the RBA stated yesterday, the slowdown in GDP growth partly reflects the ‘quarter-to-quarter variation in the growth figures’. 
This is true, but unusual weather also played a role. Cyclone Debbie and very wet weather on the east coast appear to have weighed on housing construction, which fell by -4.4% q-o-q, and on exports, which were down -1.6% q-o-q (Chart 2 and 3). Retail spending fell sharply in Queensland in March. Part of this is likely to continue into Q2, as coal exports fell in April, although there are already signs of a bounce back in retail sales in April and coal exports in May. 
The underlying trends for real GDP are more positive. After a number of years of mining investment weighing on overall investment, the business investment numbers are now starting to rise. The decline in mining investment is almost done and non-mining business investment is showing a modest lift in momentum. For more on our views on this see: 'Downunder Digest: Australia's next investment upswing', 21 March 2017.
<a href="https://www.propertyobserver.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%207.59.59%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%207.59.59%20AM.png" alt="">
 
Although the volume numbers have been volatile and knocked around by the weather the income numbers in the GDP figures were unquestionably strong. Corporate profits rose by a very strong 30% y-o- y, supported by the rise in commodity prices over the previous year. This has lifted nominal GDP to its fastest rate of growth in over five years at 7.7% y-o-y (Chart 4). The lift in corporate profits helps to explain why business investment is starting to pick up. The rise in profits is also extending a bit beyond the mining industry, with profits in the finance and insurance and professional services industries also lifting. 
The rise in corporate profits helps to explain why surveyed business conditions have continued to improve and most of the labour market measures are trending higher. The collection of Australian Industry Group surveys, which are now published for May, suggest business conditions were still at around decade-high levels in May (Chart 5). 
The key challenge remains that, although corporate profits and nominal GDP have picked up, largely driven by the rise in commodity prices, this has yet to show up in wages growth. Compensation of employees rose in Q1, following a fall in Q4 2016, but is still running at a weak 1.5% y-o-y. At this stage there is little evidence of the boost to national incomes is flowing through to households (Chart 6).
<a href="https://www.propertyobserver.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%208.00.50%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/08/Screen%20Shot%202017-06-08%20at%208.00.50%20AM.png" alt="">
 
However, as the chart shows, history suggests that it will. Yesterday’s decision to lift the minimum wage by more than in previous rounds may very well be the first sign of this starting to happen. For more the wages outlook see: 'Downunder Digest: Show me the money', 20 April 2017. 
We expect growth to pick up in the second half, following the weather-effected weakness in the first half. We expect this to push the unemployment rate lower and to drive a modest rise in wages growth in the second half. We expect the RBA to be on hold this year and to lift its cash rate in early 2018. 
<a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC. 
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Blame the weather and then ignore it: HSBC's Paul Bloxham on the GDP

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The global contractor Multiplex has completed the University of New South Wales’ (UNSW) new $125 million Bioscience Building.
Located at the Kensington campus in Botany Street, Randwick, the project comprises a total of 21,339 square metres.
It includes the new nine level Bioscience Building designed by Woods Bagot.
It represents the third stage of the regeneration and expansion of the Biomedical Precinct at UNSW, addressing the long-term accommodation needs of the School of Biological, Earth and Environmental Sciences and the School of Biotechnology and Biomolecular Sciences.
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The new Bioscience Building was completed on time and on budget.
David Ghannoum, New South Wales Regional Managing Director at Multiplex said the firm had delivered several new facilities at UNSW in recent years, including the University Terraces student accommodation, the Materials Science and Engineering Building (now known as the Hilmer Building) and the Tyree Energy Technologies Building.
The new Bioscience Building provides students and researchers with a contemporary research and teaching environment including new mixed use wet and dry laboratories.
<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/2017/06/08/c.jpg" width="700" height="450">
UNSW Faculty of Science research projects set to benefit from the new facility include understanding the origin and evolution of life on Earth; determining the effects of microplastics on the marine environment; tracing past environmental change using limestone deposits in caves and Antarctic ice cores; protecting Australian ecosystems that support our iconic wildlife; examining the evolutionary costs and benefits of sex; discovering the secrets of life at a molecular level; and using molecular biosciences to understand cancer, infectious, metabolic and neurodegenerative diseases.
Teaching areas are provided on the Ground floor and Level 1 of the new building, with rooms fitted with floor-to-ceiling glass windows to enable viewing into labs and ‘Science On Display’ opportunities. Upper floors are dedicated to Generic Open Lab and workplace facilities designed to maximise collaboration between researchers.
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Challenges faced during construction include the footprint of the building being wedged between three operating buildings, with minimal storage areas and difficult access for deliveries. The team also carried out extensive enabling works including diversion of inground services, construction of a new electrical substation and decommissioning of two substations.
Works commenced in September 2015 and spanned an 18 month period.
Construction saw some 9,350 cubic metres of concrete poured with 120 tonnes of posttensioning used as well as 980 tonnes of reinforcing steel.
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New $125 million UNSW building completed

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A five bedroom Curtin house has been sold for $1.22 million making it Canberra’s most expensive auction sale last weekend.
Located at <a href="https://www.realestate.com.au/sold/property-house-act-curtin-125442586" target="_blank">42 Robertson Street</a>, the 731 square metre property takes advantage of the north-east orientation at rear of the property.
The block of land was last sold in 1997 for $136,000.
The house was built in 2012 and features a formal lounge at the front of the house along with a simple landscape surrounding the property.
Modern kitchen features large island bench with stone bench-tops, walk-in pantry and quality appliances while it overlooks the informal living area.
It also has a Blanco 5 burner gas cook top and electric oven including a Bosch dishwasher.
<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/2017/06/04/42%20Robertson%20Street-2.jpg" alt="">
Five bedrooms are available while the master with ensuite and walk-in robe as well as having views to Black Mountain Tower from master and second living area.
The property was offered through Peter Blackshaw agents Brett Hayman and Martin Faux.
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Five bedroom Curtin house sold for $1.22 million

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The majority of respondents to a new survey believe foreign investors are the greatest factor pushing up house prices.
The survey of 1006 Australians conducted on behalf of non-bank lender State Custodians Home Loans, found 69% of those aged 50 plus believe so, 54% of Gen X, and 49% of Gen Y.
Some 60% of respondents in New South Wales considered foreign investment as the greatest factor in pushing up house prices, 63% in Victoria, 50% in WA, 54% in SA and 56% in Queensland. 
Out of survey, 32% believe current low interest rates are merely encouraging more cashed up buyers into the market, driving up prices even further.
Joanna Pretty, general manager of State Custodians, said the collective impact of so many forces at work is what’s really contributing to the housing affordability crisis, rather than any one thing in particular.
“It’s the perfect storm of numerous factors coming together which is shaping the market we are experiencing today,” she said.
“The budget changes will go some way to help regarding foreign investment levels, but then the other factors still exist. There is still a lot of work to be done regarding affordability in general.”
"Other major concerns relate to population issues.
"Some 42% of people believe that over population in major cities is pushing up demand.
Another 28% also feel there’s not enough overall housing stock on offer for the amount of people looking, the survey found.
“It is definitely tough to buy in metro areas these days in the larger cities, especially if you’re struggling to make ends meet on your current wage," said Pretty.
“There is currently a lot of competition with limited stock.
"Plus, the deposit requirements are significant, even if you’re an expert saver. 
“Unfortunately buying your ‘forever home’ right off the bat is not always a feasible or quick option like it has been in the past.
"People who are competing for limited stock need to be open to suggestions on how to move forward.
“Look at different types of investing options. For example, if you don’t want to move from your neighbourhood, consider renting there and buy an investment property elsewhere. Make sure you’re constantly scouring real estate sites and be on good terms with local agents so they can alert you early on if something in your price range pops up.
“Also seek out advice from lending experts about areas you are interested in and how much you can borrow. Make sure your finances are sorted out prior to your search starting so you can truly understand your limit.”
Other factors Australians feel are increasing house prices are negative gearing incentives for property investors (41%), and high costs like stamp duty and capital gains tax putting homeowners off selling and buying, thereby limiting homes for sale (35%).
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Survey finds majority believe foreign investors the greatest factor for house price rises

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A classic five-level freestanding retail and accommodation building in the Melbourne CBD has been sold in an off-market transaction through Savills.
The corner building at 2-8 Spencer Street is one of the most recognisable corners in Melbourne. 
The art nouveau building was bought by education entrepreneur Shesh Ghale for a speculated $30 million, according to the Sydney Morning Herald.
The Melbourne Institute of Technology founder is Australia’s 105th richest person.
The 1913-built building, previously known as the <a href="/expert-insights/buying/art-nouveau-spencer-street-melbourne-corner-offering-through-savills">Sir Charles Hotham Hotel</a> and the Hotham Private Hotel, sold for $10.75 million in 2012 and was again put on the market in 2015, as reported in the Property Observer.
The 2012 buyer was associated with private investor Peter Russell's Kurrawong.
The property has frontages to both Spencer and Flinders Streets in the Melbourne CBD.
The sale was negotiated by Clinton Baxter of Savills.
The building’s tenants include Nomads Backpacker Hostel, a backpacker accommodation group.
The corner block has a land area of 883 square metres with a 20.9 metre frontage to Spencer Street and 40.2 metres to Flinders Street. 
When the hotel was first erected the daily press described as one of the largest in the city, close to what was the shipping trade, Spencer Street Railway Station, Harbour trust offices and Railways Offices. 
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