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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The online retail market is slowing, with sales declining over the year to April and also on a monthly basis, according to a NAB index.
Year on year growth slowed from a revised 10.5% in March (was 9.0%) to 6.9% in April, according to the NAB Online Retail Sales Index. The revised trend estimate for online retail sales is now virtually flat (0.1%), it said.
On a monthly basis, the index contracted in April by 0.8% on a seasonally adjusted basis, reversing a 0.8% growth in March. 
ABS data on traditional retailers showed month on month seasonally adjusted contracted in March (-0.1%), with year on year growth of 2.4%.  
“We estimate that Australian consumers have spent around $22.37 billion over the last 12 months to April 2017. This is equivalent to 7.3% of spending at traditional bricks &amp; mortar retailers, as measured by the ABS in the 12 months to March 2017,” said a note from NAB.
In line with the headline number, most categories slowed in April. 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailYoY.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailYoY.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailMoM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailMoM.png" alt="">
Against the general slowing were: Homeware and appliances (10.4% yoy Apr vs 8.7% yoy Mar), Games and Toys(14.9% yoy vs  8.2% yoy) and Daily Deals (4.4% yoy vs -3.8% yoy). Media (16.3% yoy vs 16.6% yoy) maintained strong growth while previous  growth lead, Takeaway Food, slowed considerably (11.3% yoy vs 24% yoy).   Personal and Recreational Goods (3.4% yoy vs 14.4% yoy), Department Stores (3.4% yoy vs 8.4% yoy) and Fashion (2.4% yoy vs 4.9% yoy) also slowed but remained positive, whereas  Groceries and Liquor (-1.6% yoy ) is smaller this April compared to last.
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailOnlinevsABS.png" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2017/05/31/NABRetailGrowth.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/31/NABRetailGrowth.png" alt="">
SME sales represents just over a third of all online sales. While SMEs (-0.4%,mom s.a.) recorded less negative sales, the fall in growth was sharper given the March result (+1.5%, mom, s.a.). Year on year growth for SMEs (10.6%) is still stronger than Corporates (6.9%).
The data is seasonally adjusted where specified, with a leap year adjustment made for February 2012 and 2016.
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jonathanchancellor-7SQnKwU6yx

Online retail sales fell in April, reversing gains in March: NAB index

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Property sale numbers and figures increased slightly in the past three months, according to CoreLogic's latest Brisbane Cityscope.
The property data firm said the last three months to the beginning of May 2017 recorded 13 sales for a total of $441.6 million, with $429.2 million for commercial, $11.9 million for commercial strata and $500,000 for other.
In comparison, the three months to the beginning of February 2017 had 11 sales for a total of $329 million, with $191.2 million for commercial, $2.6 million for commercial strata, $99.6 million for retail, $1.6 million for retail strata and $34 million for other.
The 12 months leading up to the beginning of May 2017 recorded 57 sales for a total of over $1.4 billion, well below the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Brisbane Cityscope:
<a href="https://www.propertyobserver.com.au/images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.32.44%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-05-24%20at%2010.32.44%20am.jpg" alt="">
The most significant sales recorded this quarter were:
<ul>
<li>In December 2016 Eagle Street Investment Trust sold its one-third interest in One One One Eagle Street for $284,166,667 to GPT Funds Management 2 Pty Ltd as trustee for the Eagle Street Trust, which in turn is controlled by GPT Wholesale Office Fund. The 47-storey office building has six levels of basement car parking and was completed in April 2012; it was officially opened in August 2012.</li>
<li>The State Law Building at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-501109743" target="_blank">50 Ann Street</a> (above) was purchased for $145 million by Propertylink Enhanced Partnership, with settlement due in May 2017. JLL, CBRE and Inc RE negotiated the sale which represented an initial yield of 8.18% on passing income of over $11.86 million. The building is leased by The State of Queensland and includes a cafe on the ground floor.</li>
<li>The whole of level 2 at 344 Queen Street was bought for $4.5 million by Kooee Mobile Pty Ltd.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/05/24/Screen%20Shot%202017-05-24%20at%2010.33.16%20am.jpg" target="_blank">Click to enlarge</a>
<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/Screen%20Shot%202017-05-24%20at%2010.33.16%20am.jpg" alt="">
Properties currently listed for sale include:
<ul>
<li>160 Ann Street – a 22-storey office building which was extensively refurbished in 2016. For sale by expressions of interest, closing June 1, 2017; agent, Knight Frank (Justin Bond and Neil Brookes) in conjunction with CBRE.</li>
<li>Unit 406 (lot 802), Oaks Festival Towers, 108 Albert Street – a 184 sqm unit on the fourth floor, with 15 sqm in the basement. Scheduled for auction on June 1, 2017; agent, Ray White Commercial Brisbane (Nick Wedge and John Dwyer). The unit was advertised with vacant possession from July 1, 2017.</li>
<li>Shop 15 (lot 38), Anzac Square Arcade, 198 Adelaide Street – an 82 sqm retail unit on the first floor. For sale with an asking price of $800,000; agent, CBRE Brisbane (Lachlan Tully and Callum Short).</li>
</ul>
Properties under contract (conditional or unconditional) include:
<ul>
<li>366 Queen Street – a four-storey office building which was built in 1984. Under conditional contract in early May 2017; agent, CBRE Brisbane (Tom O’Driscoll, Mike Walsh, Andrew Adnam).</li>
<li>545 Queen Street – a ten-storey office building plus a lower ground area to Adelaide Street. Under contract unconditionally for approximately $70 million; agent, Savills (Ben Azar).</li>
<li>Shop 22 (lot 34), Anzac Square Arcade, 198 Adelaide Street – a 67 sqm commercial unit on the first floor. Under contract unconditionally; agent, Blocksidge &amp; Ferguson Ltd (Tom Chan). The unit was advertised with an estimated fully leased income of $44,000 p.a net.</li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

Brisbane commercial property sales on the rise: Cityscope

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Alceon Captrans JV have sold regional Brisbane shopping centre, Town Square Redbank Plains for an estimated $160 million to Singapore based Rockworth Capital Partners.
Simon Rooney, JLL’s head of retail investments for Australasia said he is seeing a very clear trend towards offshore investors increasingly driving acquisitions of quality Australian sub-regional assets – a trend that’s been building and gaining momentum in 2017.
“Sub-regional retail is the preferred asset class for many offshore groups seeking quality retail exposure, given the defensive and resilient characteristics and positive in built growth outlook," he said.
"Assets which are predominately food, service and convenience-based, with a high proportion of non-discretionary retail and limited fashion, offer enhanced and consistent returns and limit trading volatility.
"The lower rental profile of sub-regional centres also provide attractive opportunities for income and capital growth, via asset repositioning and tenancy re mixing.
“The comparative attractive yield profile available in the Australian retail sector, continues to offer strong relative value for offshore investors as evidenced by the recent transactions of Town Square Redbank Plains to Rockworth Capital and Casey Central, also sold by JLL to M&amp;G Real Estate.
“Domestic institutions are also keenly pursuing sub-regional centres to secure above-benchmark total returns through active management and asset repositioning.
“The latest being the Charter Hall acquisition last week of Salamander Bay (NSW) for circa $175 million and reinforces the significant current interest in the sub-regional sub-sector.
Recent major sub-regional transactions above $50 million:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
Centre
</td>
<td>
Purchase price
</td>
<td>
Cap Rate
</td>
<td>
Sale date
</td>
<td width="68">
Vendor
</td>
<td width="71">
Purchaser
</td>
</tr>
<tr>
<td>
Redbank Plains Town Square, QLD
</td>
<td>
$160,000,000
</td>
<td>
6.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Alceon Captrans
</td>
<td width="71">
Rockworth
</td>
</tr>
<tr>
<td>
Salamander Bay Centre, NSW
</td>
<td>
$174,500,000
</td>
<td>
5.80%
</td>
<td>
May-17
</td>
<td width="68">
Vicinity
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Arana Hills Plaza, QLD
</td>
<td>
$67,100,000
</td>
<td>
6.00%
</td>
<td>
Dec-16
</td>
<td width="68">
ISPT
</td>
<td width="71">
Charter Hall
</td>
</tr>
<tr>
<td>
Casey Central, VIC
</td>
<td>
$220,750,000
</td>
<td>
5.25%
</td>
<td>
Dec-16
</td>
<td width="68">
Scentre Group
</td>
<td width="71">
M&amp;G
</td>
</tr>
<tr>
<td>
Campbelltown Mall, NSW
</td>
<td>
$197,000,000
</td>
<td>
6.00%
</td>
<td>
Sep-16
</td>
<td width="68">
Perron Group
</td>
<td width="71">
Charter Hall
</td>
</tr>
</tbody></table>
“Combined with the current circa $3.5 billion Blackstone retail portfolio sale process, the current series of transactions would be expected to drive retail investment activity in Australia to a new record high in 2017.”
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Australia's sub-regional retail sector continues to attract strong offshore and domestic demand

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A standalone commercial site with a three-bedroom residence at Scoresby in Melbourne’s eastern suburbs has sold for $521,000 post-auction.
The <a href="https://www.realcommercial.com.au/property-retail-vic-scoresby-502364050" target="_blank">11-13 Cavell Street</a> vacant property was snapped up by a local investor.
It last traded for $75,000 in 1996, according to RP Data.
The property has total land area of approximately 376 sqm and is zoned Commercial 1.
The selling agent was George Kelepouris of Ray White Commercial.
Kelepouris said the building with a ground floor retail/office space was offered for sale at an onsite auction.
“The auction attracted four bidders and the property was sold shortly after the auction to one of the bidders,” he said.
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Scoresby commercial property sold for $521,000

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For those predicting housing values to start dropping in the near future you should start rethinking that analysis.
Of course, the newly created investment market is facing severe headwinds and yes, it would be fair to assume that there will be a correction should a large number default on their respective acquisitions.
The mistake many continue to make is that housing affordability is actually about the established markets of households not the investment market.
If you were asked a simple question for those residing in NSW, do you want a second Sydney Airport or high-speed rail connecting Newcastle to Sydney, the Hunter Valley to Sydney and Wollongong/Southern Highlands to Sydney I am pretty sure what the answer would be.
With the second Sydney Airport estimated to cost between $6 and $8 billion it is comical that a second airport is prioritised over high-speed rail networks.
Everybody aside from politicians can see that high-speed rail networks would have an instant effect on housing affordability in NSW.
For those who disagree NSW is facing major problems over the upcoming decade that require immediate attention.
<a href="https://www.propertyobserver.com.au/images/2017/06/02/Screen%20Shot%202017-06-02%20at%2010.59.17%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/02/Screen%20Shot%202017-06-02%20at%2010.59.17%20am.jpg" alt="">
As a direct result of what is happening to Sydney rental markets and housing markets we are now starting to see the exodus of NSW residents to the more affordable Victorian markets.
This is happening to such an extent that Melbourne will surpass Sydney in terms of population to seize the title as Australia’s biggest and number one city.
<a href="https://www.propertyobserver.com.au/images/2017/06/02/Screen%20Shot%202017-06-02%20at%2010.59.40%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/02/Screen%20Shot%202017-06-02%20at%2010.59.40%20am.jpg" alt="">
It has been well documented that since that Sydney 2000 Olympics there has been next to no forward planning which explains exactly why Sydney is now overcrowded with our transport infrastructure at breaking point.
What makes this even worse is that there are no viable solutions – no drawing boards.
This then leads to the population considering alternate solutions to relocate simply because the financial pressures have become untenable.
NSW has had no succession planning where vision has simply been ignored, and now it is starting to pay the price for that ignorance.
In the established property markets we are now at levels never seen before.
Only last week, a garden apartment that was sold in Cremorne in September 2016 for $1,582,000 sold again less than eight months later for $1,970,000.
At a federal level, we are now witnessing the lowest annual growth rates in terms of government spending since the 1960’s.
Federal government overheads keep increasing so we are now witnessing cutbacks that will seriously damage growth as infrastructure continues to be ignored.
There is no collaboration between the states and territories with Canberra and this is fracturing growth given population growth continues to climb to record highs.
If elected politicians started displaying signs that Sydney was full 17 years ago then what do you think they should be displaying now?
With the federal government tightening the spending belts then the states and territories will start cancelling future projects simply because there is no available funding.
The latest Australian Bureau of Statistics figures reveal that approximately 2.3 million Australians earn the lowest legal rate of pay for what they perform.
Recently the Reserve Bank of Australia commented that “wage growth is low.
Although it seems unlikely that wage growth will slow much further, wage pressures are expected to pick up only gradually.”
There has been next to no political commentary about wage growth where one would think that elected politicians would make this a priority to find out exactly why Australia has such weak wage growth?
With record low wage growth how is it possible that we can have record high property rentals?
The Property Council of Australia recently released a five-point plan to assist the NSW government with housing affordability.
<ul>
<li>Turbocharging housing supply through increased land supply and planning reform.</li>
<li>Reforming state property taxes and reducing fees, charges, and red tape.</li>
<li>Better co-operation between all levels of government.</li>
<li>Bridging the deposit gap and supporting first home buyers better.</li>
<li>Supporting the rental market and fostering innovative, affordable rental product.</li>
<li>Whilst fine in principle – this simply won’t happen.</li>
</ul>
Sydney has a massive problem with no clear solutions in the short-term.
Common sense needs to prevail so put the second Sydney Airport on immediate hold and start building fast-train networks.
I am yet to see a better solution to tackle housing affordability. Have you?
MOSMAN – 2088
Number of houses on the market this time last year – 51
Number of houses on the market last week –56
Number of houses on the market this week –57
Number of apartments on the market this time last year – 41
Number of apartments on the market last week – 40
Number of apartments on the market this week –38
CREMORNE
Number of houses on the market this time last year – 10
Number of houses on the market last week – 6
Number of houses on the market this week – 9
Number of apartments on the market this time last year – 18
Number of apartments on the market last week – 16
Number of apartments on the market this week – 18
NEUTRAL BAY – 2089
Number of houses on the market this time last year – 8
Number of houses on the market last week – 2
Number of houses on the market this week – 3
Number of apartments on the market this time last year –23
Number of apartments on the market last week –21
Number of apartments on the market this week – 19
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog<a href="https://www.rwm.com.au/"> </a><a href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000.
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robertsimeon-hRNTwJyXkQ

Politicians are doing nothing to fix housing affordability: Robert Simeon

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<img src="https://counter.theconversation.edu.au/content/77784/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In its 2017 federal budget, the Australian government included a 0.06 percent levy on Australia’s biggest five banks: ANZ, the Commonwealth, NAB, Westpac and Macquarie Bank.
The levy will collectively cost the banks A$1.6 billion a year, and by some estimates will raise the overall cost of funding for the affected banks by around 0.03 percent. Many commentators have suggested this cost will be passed directly onto customers.
In an interview on the ABC’s Insiders program, Treasurer Scott Morrison said the banks could absorb the cost of the levy, given the size of their profits.
He said Australia’s large banks have between a 0.2 percent to 0.4 percent advantage because of the way Australia’s regulatory regime works and that Australian banks have a return on equity about twice that of banks in other advanced developed economies.
Is that right?
Checking the source
When asked for sources to support his statement, a spokesperson for Scott Morrison referred The Conversation to evidence presented by the Reserve Bank of Australia to the House of Representatives Standing Committee on Economics at its hearing on September 28, 2016.
In the report, the Reserve Bank included a chart provided below.
The spokesperson added that:
Importantly, the chart doesn’t adjust for M&amp;A [mergers and acquisitions] activity, given NAB’s 2016 sale of Clydesdale brings down average (unadjusted) ROE [return on equity] for Australian banks quite substantially.
Let’s check the facts.
What is the return on equity for Australian banks?
Return on equity, or ROE, is a measure of profit, expressed as a percentage of shareholder equity. It shows how much profit a company generates with the funds invested by its shareholders.
The figure below (from the Reserve Bank’s Financial Stability Review) shows the return on equity of the large banks in Australia was around 15 percent in 2015.
Including the smaller Australian banks, which have about 20 percent of the market, the average return on equity is somewhat lower and more variable than for the big four only, but it is above 12 percent.
<a href="https://www.propertyobserver.com.au/images/2017/05/19/return%20on%20equity.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/19/return%20on%20equity.png" width="452" height="425">
A decade ago, Australian bank returns on equity were a few points higher, and not much different from those earned by banks in other developed markets.
However, during the global financial crisis, banks in the US and Europe sustained large losses, leading to negative returns for couple of years. US banks have since recovered somewhat. European and UK banks, however, continue to perform weakly: the returns on equity of large banks in Europe are about 5 percent, compared to about 3 percent in the UK. The ROEs of large Canadian banks have, like those of large Australian banks, remained higher and more stable.
Looking ahead, the Reserve Bank notes that:
Analysts’ expectations are for Australian banks’ [return on equity] to remain on average around 12.5 percent over the next couple of years. While this is high by international standards and appears to be above banks’ cost of equity, it is lower than the returns to which Australian banks and their investors have become accustomed. Do Australia’s biggest banks have an added advantage over smaller rivals?
The treasurer also claimed that “our major banks have about a 20 to 40 basis point [funding cost] advantage because of the nature of the regulation and structure of our financial system”.
Big banks do indeed appear to be able to borrow more cheaply because their lenders expect them to receive government support during crises.
In 2010, the International Monetary Fund (IMF) used a range of approaches to estimate the value of “implicit government support” – such as the bailouts provided to some US banks during the global financial crisis – for banks and other financial institutions in the Group of 20 nations, including Australia.
While the answers from the different approaches varied, the IMF concluded that implicit government support “provides too big to fail financial institutions with a funding benefit between 10 and 50 basis points, with an average of about 20 basis points”.
Here in Australia, the Reserve Bank has concluded that “the major banks have received an unexplained funding advantage over smaller Australian banks of around 20 to 40 basis points on average since 2000”.
Macquarie University researchers James Cummings and Yilian Guo found that the funding cost advantage was about 30 basis points from 2004 to 2013, but has declined to about 16 to 17 basis points since then, in part due to prudential reforms that obliged banks to increase the share of lending contributed by shareholders.
Verdict
Scott Morrison was correct: Australian banks do “have a return on equity which is about twice, if not more than that, what you see particularly in other parts of the advanced developed economies of the world”.
Australian banks currently have higher returns on equity than banks in many other major developed markets. Those returns are about twice as high or more than the returns of the troubled European and UK banks. But returns in Canada are close to the Australian level, and the returns earned by large US banks are only a few points below the Australian level.
The treasurer is also correct to point out that the major banks enjoy a funding cost advantage on the basis of expected government support in financial crises. However, the size of the support is less clear. While IMF and RBA studies are in line with the treasurer’s range, there is some evidence that the funding cost advantage may now be somewhat lower.
Jim Minifie is Productivity Growth Program Director at the Grattan Institute. You can follow him on Twitter <a href="https://twitter.com/jimminifie?lang=en" target="_blank">here</a>. 
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jchancellor-FAypfDUnLy

Do Australian banks have double the return on equity of banks in other developed economies?

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Propertylink has entered into a contract with ARA Australia and Straits Real Estate to sell 320 Pitt Street Sydney for $275 million.
Sale completion is slated to occur July 2017.   
The sale price represents a 12.2 percent premium to current book value.
Propertylink purchased the property in partnership with Grosvenor Group and Goldman Sachs in June 2015 for $200 million on an acquisition yield of 8.27 percent.
<img src="https://www.urban.com.au/images/2017/06/06/Screen%20Shot%202017-06-06%20at%2010.50.05%20AM.png" alt="">
Peter McDonald, Propertylink's head of property said the building is leased to Telstra until 2020. 
"While there was no requirement to divest the asset at this stage, we have been very pleased to realise a superior outcome for our investment partners," he said.
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Propertylink divests 320 Pitt Street for $275 million 

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<img src="https://counter.theconversation.edu.au/content/78452/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Contrary to what Labor and the banks have predicted, revenue from the bank levy will likely be higher, even with deductions.
In this year’s budget papers, Treasury estimated that the bank levy will collect about A$1.5 billion in each of the next four years for the government. But this is actually a conservative estimate.
Labor has argued there will be a A$2 billion dollar hole in the bank tax revenue. This is based on the disclosure to the ASX of four of the five affected banks, on what they will likely pay government.
But the banks’ numbers assume there won’t be change to any decisions in response to the bank levy. Research shows this is highly unlikely, as bank customers have worn the cost for bank taxes like this, imposed after the global financial crisis in the UK.
In fact, if the economy keeps growing as many have predicted, and banks grow too, then the amount of revenue the government collects from the levy may even be bigger than Treasury estimates.
<h2>What we know about the bank levy</h2>
When it comes to what revenue the government can get from the bank levy, both the taxable sum, and the tax rate applied, determine what gets collected.
The budget papers specify the taxable sum as including “items such as corporate bonds, commercial paper, certificates of deposit, and Tier 2 capital instruments” but not “Tier 1 capital and deposits of individuals, businesses and other entities protected by the Financial Claims Scheme”. The bank levy will be an annualised rate of 0.06%, applicable for all licensed entity liabilities of at least A$100 billion from July 1, 2017. Small banks and foreign banks are exempt.
Although it is possible the bank levy would not be a deductible expense in calculating corporate income, precedent and statements by government indicate the levy will be deductible. Special taxes on the mining industry (including royalties and the petroleum resource rent tax), state payroll, land taxes, stamp duties and indirect taxes such as petroleum excise are all deductions in the calculation of taxable corporate income.
<h2>Errors in the assumptions about banks</h2>
Labor and banks also assume that the bank levy is a deduction in assessing corporate income. The preliminary data made public by four of the five affected banks indicates the gross revenue gain of the bank levy, less the reduction in corporate tax, will be less than the budget numbers.
That is, the net revenue reflects a 0.042% levy rather than the 0.06% rate. This also assumes shareholders will bear all of the net additional taxation.
But it also assumes the banks will not change any decisions. This is both a simplistic and an unlikely scenario.
In essence, the bank levy is a selective indirect tax on one of the inputs used by the large banks to provide financial services to their customers.
A more likely scenario is that the banks will seek to, and succeed in, passing forward most of the new indirect tax to their customers as a combination of higher interest rates and fees. From past experience, banks pass forward higher Reserve Bank of Australia (RBA) interest rates, just as they pass forward lower rates.
Given that the affected five banks account for over 80% of the market, together with the reluctance of most Australian business and household customers to switch banks, there is a high probability that most of the levy will be passed forward as higher bank interest rates and fees.
Should the banks pass forward most of the levy to their customers, the increase in bank revenue will match the increase of bank costs caused by the levy. That is, taxable corporate income will remain about the same. Then, the overall government revenue gain is given by the gross 0.06% bank levy.
<h2>The bank levy could even collect more</h2>
If the output and incomes of the five banks to pay the levy expand over the next four years, then we would expect additional revenue to be collected by government to increase over time. The budget papers, the RBA, international agencies and private sector economists all forecast economic growth. It’s unlikely that the big five banks would not also experience economic growth.
So the budget paper forecast that the bank levy revenue collection of about A$1.5 billion a year for each of the next four years, has to be on the conservative side.
The revenue estimates for the levy are forecasts or projections compiled in a world of uncertainty. So a lot is still up for debate, including not only the design of the levy but the future path of the economy in general and for the large banks in particular.
Details and assumptions underlying government estimates of the revenue from the bank levy are unclear. It would be an unusual precedent not to allow the levy to be a deduction in calculating corporate income tax, and so reducing the net revenue gain. But the implicit assumption of the bank released numbers of no decision changes by the banks is unrealistic.
If banks, as businesses in general, pass forward to customers much of an input tax, a large part of the first-round fall in corporate income, is offset by higher revenue. Government forward estimates of additional government tax revenue collected by the levy likely are on the conservative side.
John Freebairn is a Professor in Department of Economics, University of Melbourne and the author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/john-freebairn-90" target="_blank">here</a>.
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The government will likely get more from the bank levy than Labor or the big four think: John Freebairn

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The word “hotspot” has become one of the most over-used in Australian real estate.
Many times the word is mis-used and downright abused.
Last month I spoke at a seminar in Melbourne hosted by The Property Education Company, where Greville Pabst from WBP Property Group gave a well-informed presentation about identifying good investments. He commented that there is no such creature as a “hotspot” and that investors should not waste time searching for them.
And I would tend to agree with him, in terms of the definition many people apply to word – places that show short-term flash-in-the-pan spurts of price growth, such as mining towns which have been a recent graveyard for many investors.
The areas I identify as hotspots are places I believe will show superior growth over time, taking a long-term view.
In recent weeks there has been considerable publicity for a Housing Industry Association report which, according to media reports, identified the nation’s leading “housing hotspots”.
It’s importance for investors to understand what is really meant in this instance and the nature of these places. I would suggest that while these are hotspots according to the HIA definition, they are usually not good places to buy for capital growth. 
Darwin’s daily newspaper, the NT News, went overboard with parochial enthusiasm when it reported that “two housing markets in the Northern Territory rank among the strongest in the country”. Another media outlet reported that Pimpama on the northern fringe of the Gold Coast had been identified as “Australia’s top housing hotspot”.
It’s crucial to understand the nature of the HIA report, which is suggested by the report title – Population and Residential Building Hotspots 2017.
Essentially this report reveals the leading areas for new residential construction around the nation. These are places where there’s land available for new dwelling construction. You’re not going to find any middle-ring city suburbs in this report, because such places are built out and any new construction is likely to be apartments.
Locations make this report by virtue of high building approvals and high percentage population growth (usually from a very low base).
A “hotspot” is defined as a local area where population growth exceeds the national rate (which was 1.4 percent in the year to June 2016) and where the value of residential building approvals is more than $20 million.
The area in which Pimpama sits – the precinct between Brisbane and the Gold Coast – is always likely to feature in a report like this, because it has lots of largely empty land ripe for new development and it sits between two growing cities.
The two Darwin locations which the NT News claimed were among the nation’s leading housing markets are two new suburbs, Zuccoli and Lyons. The paper said Zuccoli was “the third strongest housing market in Australia” - which was seriously misleading.
The percentage growth rates for population in these places are high because they have been newly-created as suburbs only recently.
So are these good places to invest for capital growth? In most cases the answer is emphatically no. I would rate many of these locations as no go zones. The existence of ample land for ongoing new development means there’s no shortage of supply and often the capital growth rates are poor. Indeed developers often pile into these areas and create oversupply, which means prices fall.
The Gold Coast has been a national leader on population growth for decades but a poor performer on capital growth because developers periodically flood the market with new product. This is especially true in the high-rise unit market – the median apartment price in Surfers Paradise today is pretty much the same as it was 10 years ago – i.e. zero growth in the past decade.
Another example is provided by a new growth area which challenged the Gold Coast’s status as the leading LGA in the nation for population growth – Wyndham City in the south-west of the Melbourne metropolitan area. This happened because there’s lots of former rural land available for new suburbs there.
Six or so years ago widespread publicity about growth in Wyndham City caused the inevitable stampede by developers who quickly generated oversupply. Vacancies rose and prices fell. Developers employed marketeering companies to flog the unwanted product to distant investors, many of whom regretted believing the publicity about this being a national housing hotspot.
Zuccoli in the Darwin region is the opposite of a good place to buy. Darwin’s market has been in reverse for the past four years, with prices and rents falling, and the Zuccoli postcode currently has a 7 percent vacancy rate, according to SQM Research. CoreLogic data suggests the median price fell 17 percent in the past year.
The Pimpama postcode, ranked by the HIA report as the nation’s No.1 hotspot, has a vacancy rate around 5 percent. And the average annual growth rate for house prices over the past decade is less than 1 percent, similar to the performance of apartments in Surfers Paradise, for similar reasons – rampant supply has overpowered all the other positive growth drivers.
Construction hotspots, yes. Investment hotspots, no.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <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> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Hotspot or no-go zone? Terry Ryder

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GUEST OBSERVER
Economic indicators for Australia look benign – at least for the moment.
Recent revisions to their economic forecasts by leading financial institutions reveal that another quarter of economic contraction, following the September quarter 2016, may be on the cards. Last month’s budget is unlikely to significantly alter the outlook, nor are the developments overseas.
The RBA Shadow Board continues to advocate a hold-and-wait policy. It attaches a 56 percent probability that this is the appropriate setting.
The confidence attached to a required rate cut equals 3 percent, while the confidence in a required rate hike equals 42 percent.
Headline inflation, which increased to 2.1 percent in the March quarter, lies comfortably within the Reserve Bank of Australia’s official target range of 2-3 percent.
Australia’s seasonally adjusted unemployment rate fell to 5.7 percent in April, according to the Australian Bureau of Statistics, with the economy adding more than 35,000 jobs. However, this increase was due entirely to a swell in part-time employment as full-time employment contracted by nearly 12,000.
Nominal wage growth continues to remain subdued. In fact, in the March quarter real wages fell by 0.2 percent.
The Aussie dollar, relative to the US dollar, recently fell below the 74 US¢ mark, with some financial market analysts predicting a breach of the 70 US¢ threshold before the end of the year. Yields on Australian 10-year government bonds continue to slide; they now equal 2.4 percent. Domestic share prices have pared their recent gains, with the S&amp;P/ASX 200 stock index trading below 5,800.
Commodity export prices dropped a considerable 6.8 percent in May; they are now more than 10% below their January peaks. Even though mining investment increased slightly for the first time in nearly three years, it is expected to fall 22 percent in the year ahead, based on ABS surveys. Non-mining firm investment is expected to increase by 3.7 percent in the same period.
Internationally, there exists no stand-out news item to help guide policy. Economic statistics from Europe and the US look favourable but geostrategic conflicts, uncertain elections and unpredictable US policy could change this swiftly. China is unlikely to experience another round of double-digit growth rates. On the contrary, there remains the possibility that the debt overhang and structural adjustment will further slow the economy.
Consumer and business confidence remain modest. Other measures of economic activity such as capacity utilization, retail sales and inventory behavior remain tightly range-bound.
The Shadow Board’s policy preferences have barely nudged since last month. It is 56 percent confident that keeping interest rates on hold is the appropriate policy, one percentage point down from May.
It attaches an unchanged probability of 3 percent that a rate cut is appropriate and a 42 percent probability (40 percent in May) that a rate rise, to 1.75 percent or higher, is appropriate.
The probabilities at longer horizons are as follows: 6 months out, the estimated probability that the cash rate should remain at 1.50 percent equals 23 percent, unchanged from the previous round.
The estimated need for an interest rate decrease is up two percentage points, from 4 percent to 6 percent, while the probability attached to a required increase equals 71 percent (73 percent in May).
A year out, the Shadow Board members’ confidence that the cash rate should be held steady equals 14 percent (17 percent in the previous month), while the confidence in a required cash rate decrease edged up from 4 percent to 7 percent and in a required cash rate increase remained unchanged at 79 percent.
<a href="https://www.propertyobserver.com.au/images/2017/06/06/Screen%20Shot%202017-06-06%20at%209.46.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/06/Screen%20Shot%202017-06-06%20at%209.46.55%20AM.png" alt="">
More information from the CAMA RBA Shadow Board can be found <a href="https://cama.crawford.anu.edu.au/rba-shadow-board" target="_blank">here</a>.
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