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 latest internal migration data shows that an increasing number of inter-state and intra-state population movements are to either sea change/tree change regions or the outskirts of the capital cities.
Each year the Australian Bureau of Statistics (ABS) publishes data on internal migration across the regions of Australia.
Internal migration data counts the number of residents moving within the state as well as across state borders.
The tables provided within this report show the top and bottom 25 SA4 regions for net internal migration nationally over the 2015-16 financial year.
The first table shows that the Gold Coast saw the most net internal arrivals at 6,428 persons over the year. 
The data series dates back as far as 2006-07 and the net internal arrivals of 6,428 persons is the highest on record and 39.4% higher over the past year. 
It was also the first time since 2006-07 that the Gold Coast had seen the nation’s highest rate of net internal migration.
<a href="https://www.propertyobserver.com.au/images/2017/06/05/Chart-1.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/2017/06/05/Chart-1.jpg" alt="">
Of the top 25 regions for net internal migration over the past year, 13 were located outside of the capital cities; generally in areas either adjacent or close to capital cities. 
These regions were a mix of sea change and tree change type locations.  Interestingly, each of these regional markets has recorded an increase in net internal migration over the year.
The data supports the strong price rises being recorded across many of Australia’s coastal and hinterland regions, especially those within easy commuting distance of the major capital cities.
None of the 12 capital city regions on the top 25 list were inner city areas in which high rise unit development is at unprecedented levels and density is increasing. 
The capital city areas listed are slanted more towards an increase in greenfield development rather higher density new housing.
The second table shows the 25 regions nationally that have recorded the greatest losses from net internal migration over the 2015-16 financial year. 
Sydney’s Inner South West recorded the largest migration away from the area over the year, losing a net 8,747 residents. 
It was actually the 10th consecutive year that Inner South West has recorded the largest greatest loss from net internal migration.
<a href="https://www.propertyobserver.com.au/images/2017/06/05/Chart-2.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/2017/06/05/Chart-2.jpg" alt="">
17 of the 25 regions listed in the second table were located in a capital city market.  The regions listed are generally established areas closer to the city centre. 
These areas are either seeing greater high density new housing development or very little new housing construction. 
The non-capital city markets are characterised as regional and linked to either agriculture or the mining and resources sector.
Looking at the broader capital city and regional markets, net internal migration over the year was strongest into: Regional NSW (11,827), Brisbane (10,149), Regional Vic (8,429) and Melbourne (8,270). 
The net losses from internal migration were greatest for: Sydney (-23,176), Adelaide (-6,088), Regional WA (-4,433) and Perth (-3,270).
Net internal migration to Regional NSW, Melbourne, Regional Vi and Brisbane was the greatest it has been in at least 10 years. 
Meanwhile, net internal migration to Sydney was the lowest since 2011-12 and it was the lowest in at least 10 years to Regional Qld, Adelaide, Perth and Regional WA.
Overall the data indicates that migration is gathering pace in select regions of the country, a number of which are sea change/tree change areas. 
On the other hand, Sydney is increasingly shedding residents to other parts of the country and this is most likely linked to the high cost of housing. 
Coastal, regional areas of NSW and Vic along with Melbourne and Brisbane appear to be significant benefactors of the deteriorating housing affordability in Sydney as an increasing number of people leave the city for more affordable locations.
Cameron Kusher is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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ckusher-ujnxiKuFQs

It looks as if sea change and tree change is gathering pace: Cameron Kusher

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Sydney's property boom is now in its fifth year - an unusually long period with unusually high price growth.
But the May auction results suggest there's been a light tap on the breaks.
The slightly lower Saturday auction success has contributed to the current thinking that we've perhaps seen the peak. 
But which peak?
Last weekend Ryde recorded the strongest clearance rate of 90 percent from 46 auctions, but Blacktown, with half the volume, secured just 55 percent.
The overall Sydney figure was 76 percent.
There's so many markets across Sydney each having their own telling characteristics.
As a buyer or seller in the market, it is important to take note of the suburban, citywide and national trends, as they all contribute to the commentary which shapes sale outcomes.
Despite it being at the pricier end of activity, auction trends are a portent of the wider property market direction.
There are indicators that cover the private treaty market.
Some of these have yet to suggest any shift in sentiment, but these to tend to lag auction momentum so should emerge over coming months.
Days on market for Sydney private treaty sales sits at a speedy 28 days, the nation's fastest market, CoreLogic advise. The buying discount off the vendor asking price is just four percent.
Stock on market is up six percent suggesting a bumper winter selection for buyers.
The latest CoreLogic figures show supply of established housing stock for sale is at the highest level for this time of year since 2012.
Estate agent John McGrath senses the booming market has turned.
"Demand softens because prices get to such a high point after a long period of growth that buyers start giving up and exiting the market."
Would-be upgrader buyers choose to stay put and renovate or extend because they feel trading up is just too difficult.
"Whether this new data from CoreLogic indicates a turn of the cycle or a blip, we don’t yet know," McGrath said.
But his feeling is that Sydney is at, or around, its peak for the cycle.
"We’re certainly overdue for a period of price consolidation, which I continue to believe is a healthy sign for the market.
"Vendors are still in the driver’s seat but this won’t last forever, especially if demand is on the way down."
Along with the auction and private treaty market, there is another major segment, separate but also infectious, which is off the plan apartment offerings.
One index I like is the number of residential cranes on the Sydney skyline. According to the latest count, there are 34 more over the past six months. The 292 cranes total account for 53 percent of all Australian residential cranes, the RLB Crane Index indicated. 
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jchancellor-FAypfDUnLy

May auction results suggest Sydney's property boom may be slowing

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With the Australian Prudential Regulation Authority (APRA) clamping down on interest-only loans, experts and economists think interest-only borrowers may have a hard time refinancing to principal and interest loans, according to finder.com.au, the comparison website.   All 33 experts and economists in the monthly <a href="https://www.finder.com.au/rba-cash-rate" target="_blank" rel="noopener noreferrer">finder.com.au RBA survey</a>, which is the largest of its kind in Australia, are expecting the cash rate to hold at 1.5 percent at today's board meeting.   When asked about future cash rate movements (regardless of when it will happen), the majority (80 percent, 24 of 30) of panellists think the next move will be a rise.    Of the minority who are expecting a cash rate fall, most of this group believe the rate will dip no lower than 1.00 percent. However, Stephen Koukoulas of Market Economics and Jordan Eliseo of ABC Bullion believe the rate will fall even lower to 0.75 percent and 0.50 percent respectively.
"The RBA continues to place far too much weight on Sydney and Melbourne housing markets and not enough on the rest of the economy which is crying out for lower interest rates," Stephen Koukoulas, Market Economics said.   The majority of experts and economists (74 percent) expect the next rise to come in 2018. However, some are indicating that a rise may be due sooner with four respondents anticipating a rise between October and December this year.   As APRA is aiming to keep all new interest-only loans below 30% of total new residential mortgages, most panellists (57 percent) surveyed on this topic believe borrowers switching from interest-only to principal and interest, or those whose fixed interest-only terms are nearing expiring, may have a hard time refinancing.   Graham Cooke, Insights Analyst, at finder.com.au, says with potential rate rises in store, interest-only borrowers may be hit the hardest.   “Borrowers shifting from an interest-only loan to a principal and interest loan may be struck with a higher repayment initially, and they may find it difficult to service the principal portion, but ultimately it’s important to pay down the principal of the loan.   “With the next rate move likely to be in a positive direction, and with many lenders already lifting product rates, interest-only mortgage holders will be the most directly affected,” he says.   For example, for a $800,000 interest-only loan with 4 percent interest, repayments will be $2,667 versus $3,819 for those borrowers also paying down the principal.    However, increasing the interest rate from 4 percent to 6 percent would up the interest-only loan repayments by $1,333 per month, yet the principal and interest repayments would rise by only $997.   “To shield yourself from rate rises, look at your budget and find ways to free up your cash flow so you can cope with higher repayments. For instance, you may decide to consolidate personal debt to save on account fees or ongoing interest charges,” he says.   Regarding Standard &amp; Poor (S&amp;P)’s recent downgrading of 23 Australian financial institutions, most panellists (15, 63 percent) thought S&amp;P’s perception of the increased risk of a sharp fall in property prices was not justified. However, nine (37 percent) disagreed.   “We’re looking at a higher-interest future. So it’s time to start planning for higher interest rates," Mr Cooke says.    “Interest-only investors are reliant on prices continuously going up, but we’re starting to see prices either slow or fall in some cities across the country, so ensure you have a 2-3% buffer to cushion yourself against any future rate rises." Here’s what our experts had to say:
 Jordan Eliseo, ABC Bullion (Hold): "There is no compelling case to move rates in either direction at this stage. Despite generally soft economic data (today's retail sales notwithstanding), we expect the RBA will wait to see further evidence that the Australian property market is indeed cooling, before cutting rates in the second half of this year."   Shane Oliver, AMP Capital (Hold): "Not enough has changed since the last meeting when the RBA actually revised up slightly its growth outlook."   John Hewson, ANU (Hold): "Insufficient info so monitoring data."   Alison Booth, Australian National University (Hold): "The fundamentals are little changed."   Darryl Gobbett, Baillieu Holst (Hold): "The RBA will still be concerned about systemic stability being possibly adversely impacted by increased debt if rates were cut while likely seeing little benefit to increased growth. Uncertainty about impacts of  a rate rise with the current economic, property and political uncertainties put well off the possibility of a rate rise."   Peter Munckton, Bank of Queensland (Hold): "The economy is improving, and the RBA would prefer not to reduce rates."   Dr Kishti Sen, BIS Oxford Economics (Hold): "The Reserve Bank won't cut rates because it won't improve business investment. Business investment remains weak despite historically low financing rates. In addition, recent increases in the residential property market have been too high. They won't raise rates as underlying inflation is expected to remain close to 2% over the next two years."   Paul Dales, Capital Economics (Hold): "The RBA is willing to put up with underlying inflation being below its 2-3% target range as long as the unemployment rate remains below 6% and as long as it is still worried about the strong housing market and high level of household debt. In other words, lower interest rates may just exacerbate the housing issue."   Michael Blythe , CBA (Hold): "House price concerns vs low inflation."   Savanth Sebastian, CommSec (Hold): "RBA comfortable about the medium term outlook for Australia. Is likely to keep a close eye on how household consumption evolves over the rest of this year."   Dr Andrew Wilson, Domain Group (Hold): "Although case growing for a cut in rates Bank still more likely to continue with optimistic steady settings - but decision should be closer than recent as ANOTHER negative quarter of GDP looms."   Scott Morgan, Greater Bank (Hold): "Current data indicates that there will not be a change."   Mark Brimble, Griffith University (Hold): "The outlook is weak for the next 12-24 months and thus the bias is for the economy needing more support.  The financial institutions have not helped by pushing rates up, however this has assisted with APRA's desire to reduce property and credit risks.  All in all, the RBA is likely to sit on its hands again."   Shane Garrett, Housing Industry Association (Hold): "Inflation is at comfortable rate, growth does not require further support at this time. The foreign exchange rate is balanced."   Paul Bloxham, HSBC (Hold): "Because underlying inflation is past its trough."   Alex Joiner, IFM Investors (Hold): "There is no justification for a rate move. If anything economic performance and risks still suggest there should be an easing bias and property markets/debt accumulation suggest a tightening one. The former argument remains stronger in my view."   Michael Witts, ING Bank (Hold): "The RBA would be happy with the current state of the economy and will await until the release of Q1 GDP data before considering interest rate changes."   Leanne Pilkington, Laing+Simmons (Hold): "The latest data suggests subdued house price easing is occurring in major markets, there are conflicting opinions on the near-term growth prospects of the economy, the crackdown on interest-only loans seems to have caused investors to back off, and the threat of the major banks adjusting rates to counter the bank levy cannot be entirely discounted. A steady cash rate is the constant among this broader uncertainty.”   Nicholas Gruen, Lateral Economics (Hold): "Because the economic is flat and, though it would like to increase rates, the economy remains sluggish."   Matthew Tiller, LJ Hooker (Hold): "No material change in economic environment since RBA last met."   Stephen Koukoulas, Market Economics (Hold): "RBA continues to place far too much weight on Sydney and Melbourne housing markets and not enough on the rest of the economy which is crying out for lower interest rates."   John Caelli, ME (Hold): "The RBA won’t cut rates because it remains concerned about fuelling further increases in house prices and household debt."   Michael Yardney, Metropole Property Strategists (Hold): "Our economy is stumbling along so until job numbers improve it would be safe to assume the RBA won’t be hiking interest rates to slow the property markets down. On the other hand they can't afford to drop rates and fuel our property markets. So rates will remain on hold."   Mark Crosby, Monash University (Hold): "While there are some indicators of softening inflation and weakness in the economy, including slowing house price growth there is no case for a rate cut. Given this weakness and a softer US inflation outlook reducing the probability of an imminent Fed rate increase, there is also little case for raising rates."   Christopher Schade, MyState Bank (Hold): "The hurdle for another cut is high. While inflation remains subdued and the outlook for economic growth over the next year couple of years is slightly below trend, interest rate settings in Australia are very accommodative and remain appropriate at their current level. The RBA appears particularly reluctant to deliver further cuts given heightened financial risks on the back of high household debt levels."   Saul Eslake, Economist (Hold): "Nothing has happened since the last meeting that is likely to have materially altered the RBA's view of the outlook for inflation, economic growth or unemployment from that set out in the May Statement on Monetary Policy, and hence nothing will have altered their view that current monetary policy settings are appropriate."   Alan Oster, Nab (Hold): "RBA still weighing rates v house prices. Too early to tell"
Jonathan Chancellor, Property Observer (Hold): "They are low enough for the bank to continue to watch as is."   Noel Whittaker, QUT (Hold): "No reason to move either way."   Nerida Conisbee, REA (Hold): "The RBA still likely to be concerned about economic growth and particularly underemployment and low inflation. Unwilling to cut due to the state of housing. RBA will be cautious not to accelerate. For home buyers the RBA's decision doesn't really matter as banks will increase rates anyway driven by APRA and potential banking tax."   Christine Williams, Smarter Property Investing (Hold): "Retail spending over this month will increase due to retail sales and EOFY, which in turn will increase the nation's credit card debt. This will portray a false positive outlook from an economic point of view."   Janu Chan, St.George Bank (Hold): "RBA unlikely to have altered its on hold stance over the past month. Housing indicators suggest cooling conditions but its concerns over risks associated with housing and household debt will remain. Employment was the other development the rba is watching closely. On this front the fall in the unemployment rate would have been encouraging."   Steven Milch, Suncorp (Hold): "Mixed economic signals don't adequately make the case to cut or hike at this stage."
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j.ballantyne1990-6AQqhLzZaK

RBA to hold at June 2017 meeting, but the Kouk expects three more cuts

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Sydney-based developer Poly Australia is taking cheaper apartments under $800,000 off the market to offer them to first-home buyers as it expects a rush of foreign investors to snap up apartments before July 1 tax increases.
The developer has earmarked 23 cheaper apartments at its project in Poly Horizon in Sydney’s Epping for first-home buyers when they are re-released in July, according to The Australian Financial Review.
The NSW government recently decided to scrap stamp duty for properties up to $650,000 in a move to improve housing affordability.
The policy, which will apply to new and existing homes, will start from July 1. Homes up to $800,000 will also see a discounted stamp duty.
At the same time, foreign investors are facing the heat with the state government deciding to double its stamp duty surcharge to 8 percent and increase the annual land tax surcharge on foreign home owners to 2 percent from the existing 0.75 percent.
The new rules could, however, see foreign buyers rushing to buy apartments before the policies take effect, Poly said.
"We believe we will see a rush of foreign buyers securing property in the Sydney market in the next month as a result of the increase in stamp duty fees," Poly Australia sales and marketing director Jay Carter was quoted as saying by the AFR.
"Our objective is to ensure that first home buyers don't miss out because of this influx. We want to give first home buyers every opportunity to take advantage of the new stamp duty discounts."
Poly Horizon will be the largest development in Epping, consisting of 501 apartments across three towers with prices starting from $437,000 for an executive apartment.  
It recorded the sale of more than 80 percent apartments in its first release last year.
Stockland also supported the government's moves to improve affordability.
"Housing affordability is a critical issue in Sydney and Stockland welcomes the NSW government's comprehensive plan to address this challenge by unlocking supply, increasing stamp duty concessions for first homebuyers, and investing in vital local infrastructure," Stockland residential chief executive Andrew Whitson said.
Stockland launched its own affordability initiative in April, prioritising 50 percent of land releases and townhomes to first home buyers at its three major masterplanned communities in Sydney.
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jonathanchancellor-7SQnKwU6yx

Developer Poly saves cheaper apartments for first home buyers at its Epping project

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The two top issues of the moment relating to Chinese property buyers in Australia are the state of Chinese investment flowing into Australia and the vacancy tax proposed in the Federal Budget.
Sue Jong, chief of operations for Chinese international property portal Juwai.com said the biggest category of Chinese buyers are not investors at all.
"Nearly three-quarters of Chinese buyers are not affected by the proposed vacancy tax because they intend to occupy the property they are buying," she said.
“About 31 percent of Chinese buyers are investors not planning to occupy the property they buy.
"That’s the group potentially most affected by the vacancy tax. 
“Even within this group, most are unaffected because they can’t afford to leave their property empty in the first place.
"They need the rental income for their investment to succeed.
"That’s one reason rental guarantees are so popular with Chinese investment-oriented buyers. 
“One category of buyers who might be inclined to lead their properties empty for months at a time are the high net worth, lifestyle buyers.
"Because of their wealth, they are not expected to change their behavior due to the tax. About 13 out of every 100 Chinese buyers we work with is enquiring about property worth at least AU$1 million and fits into this category.
"Many of these buyers retain a primary residence in China and use their Australian home only part time.
“Of course, local Chinese buyers are not targeted by these rules, including recent immigrants, of which there are many.
"Australia is still one of the most appealing countries in the world for Chinese buyers. It has a complete package of all the main drivers, including returns, education, economic growth, employment opportunity, proximity and being well understood by Chinese."
“Out of fears for the potentially strangling impact of China’s capital controls or of that country’s economic reforms, many in Australia worry that Chinese investment is dropping.
“Juwai.com believes that in 2017 Chinese property investment is likely to be lower than in 2016 but will still be close to its recent record levels.
"For example, first quarter Chinese buying inquiries via Juwai.com were significantly lower than in the same period in 2016 but were nearly identical to the first quarter of 2015 — which set a record at the time.
“In just the past few weeks, Chinese investors have announced more than $6.4 billion of new or planned acquisitions of Australian property. Chinese investors at both the retail and the institutional level are excited by the opportunities in Australia.”
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Two top issues of the moment about Chinese property buyers in Australia: Juwai's Sure Jong

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Sydney set a new record for June house auctions with 789 home going under the hammer over the weekend, according to Domain's Andrew Wilson.
Sydney holds a preliminary auction clearance rate 74.3 percent from the weekend listings.
Domain's Andrew Wilson said the hot winter weekend significantly surpassed the previous record set of 670 on set on June 20 2015.
"The previous weekend’s clearance rate was 75.9 percent, and over the same weekend last year it was 80.1 percent," he said.
"It was the third consecutive decline in weekend results with the local market now tracking well below the 79.3 percent average weekend rate recorded over the autumn selling season. 
"Sydney recorded an overall auction clearance rate of 71.6 percent in May which was lower than the 73.3 percent recorded over April but higher than the 69.4 percent reported over May last year.
"Auction listings averaged 858 each weekend over May which was well ahead of the 709 recorded over April and the 637 listed over May last year.
"The May listings result was also a record for that month.
"It’s only the first weekend of the month and already the record has been broken for the most auctions listed and the most properties sold in June.  
"The Melbourne market continues to be deluged by a flood of auction listings with 1045 homes going under the hammer on Saturday – well ahead of the previous record of 955 set on June 18, 2016.
<div class="in-content-ad">"The city recorded a clearance rate of 75.9 percent at the weekend, which was lower than the 76.6 percent the previous weekend but higher than the 74.4 percent recorded over the same weekend last year.</div>
"Saturday’s clearance rate was the second consecutive year low result, with the local market now tracking well below the 79.5 percent average weekend rate recorded over the autumn selling season. 
"Melbourne recorded an overall auction clearance rate of 75.1 percent in May, compared with 75.9 percent recorded in April and 70.3 percent reported in May last year.
"Auction listings averaged 974 each weekend over May, which was well ahead of the 768 recorded in April and the 862 listed in May last year.
"The May listings result was also a record for that month. Over the first five months of this year 14,987 homes have been listed for auction in Melbourne, which is an increase of 14.3 percent on the same period last year."
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Bumper Saturday for Melbourne, Sydney residential auctions

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A two bedroom timber Woodridge house has been sold for $241,000 making it Brisbane’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-woodridge-125467238" target="_blank">72 North Road</a>, the 875 sqm parcel of land has been stated to be an "exciting opportunity" for a savvy buyer or builder.
It was last sold in 1986 for $39,000.
The median price of a house in Woodridge is $293,000 while a unit has a median price of $199,000.
It was marketed as having the opportunity to build brand new home or splitting the block to build two homes.
It has a south-east facing aspect with minimal gardens.
There is also a large shed out the back.
The property was offered through LJ Hooker Peter Florentzos.
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Brisbane's cheapest home - a two bedroom timber Woodridge house sold for $241,000

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The Lake Macquarie Trinity Point residential development received two awards at the weekend Asia Pacific Property Awards 2017-2018.
The project won awards in two categories - leisure architecture and hotel architecture.
This year's award was the largest in its history, with over 820 entries across all categories.
Trinity Point was designed by Architects Squillace, who have a reputation for delivering exceptional resort style facilities and five star hotels.
"We are thrilled Trinity Point is being acknowledged for its vision and we continue to focus on delivering world class luxury living on Lake Macquarie," Trinity Point chief executive officer Keith Johnson said.
The former Miss Universe Jennifer Hawkins is the face of the $388 million Trinity Point marina project at Lake Macquarie, which is accessed via the M1 Morriset motorway turnoff.
The project was first announced in 2006 for the site formerly known as the St John of God holding.
The NSW government approved a concept plan five years ago for the 23 hectare site which is around an hour and a half from Sydney and 30 minutes from Newcastle.
Johnson eventually plans around 190 residential properties, 250 luxury tourist apartments and a boutique hotel. 
The community comprises a mix of five-star resort, hospitality, retail, residential and marina components.
Johnson hopes the project will offer a combination of the vibrancy of Noosa or Port Douglas, along with the prestige and grandness of the Fairmont Banff Springs in Canada.
A foreshore boardwalk will trace the shores of Barden’s Bay, opening up the water’s edge to the public and a state-of-the-art function centre that will accommodate weddings.
Former Australian cricket captain Michael Clarke has bought into the new development.
<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/2015/11/23/clarke.jpg" alt="" width="567" height="344">
Caption: Johnson Property Group Managing Director, Keith Johnson and former Australian cricket captain Michael Clarke
He bought a three storey, four bedroom terrace off the plan. It cost $1,388,888.
"Trinity Point is going to become an absolute Sydney weekend hotspot – another Palm Beach or daytrip destination but with more of a marina-lifestyle resort focus,” he said.
For more information, <a href="https://bit.ly/2p1WfOE" target="_blank">click here</a>. 
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Lake Macquarie's Trinity Point already winning awards

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A residential Potts Point car parking space, in inner Sydney, fetched $222,000 at weekend auction, which the Di Jones selling agent declared “top dollar”.
Bidding opened at $120,000 for <a href="https://www.domain.com.au/101-45-53-macleay-street-potts-point-nsw-2011-2013605721" target="_blank">the 16 square metre undercover space</a> (above) in The Chimes apartment block.
There were two of the five registered parties still bidding from $180,000 onwards.
Another standard car space had sold nearby earlier this year at $190,000 with a larger 26 sq m car space fetching $264,000 two years ago.
The successful bidder has resided in Potts Point for two decades and intended the car spot for his personal use, The Sunday Telegraph reported.
The 10-storey, 80 unit Macleay Street strata studio block was built in the mid 1960s when the standard EJ Holden cost the equivalent of $2000.
The car space was among the first week of winter offerings, but not the cheapest. 
A three bedroom house at Smithfield - offered as a renovator's dream - sold for $142,500 as Adelaide’s and the nation's cheapest weekend auction sale.
Built in 1980 it last sold in 1995 for $56,000.
Featuring three bedrooms, the property at <a href="https://www.realestate.com.au/property-house-sa-smithfield-125500850" target="_blank">19 Adaluna Crescent</a> had $110,000 price guidance.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.29.18%20AM.png" alt="">
The onset of winter saw auction volumes fall across the country.
Some 2,545 homes were taken to auction, compared to 2,885 the previous weekend, according to CoreLogic’s latest report.
The property data firm says that the preliminary clearance rate across the combined capital cities was higher (73.9 per cent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 per cent).
With auction clearance rates typically revising lower as more results flow through, the final clearance rate is likely to be lower than what was recorded last week, CoreLogic auction analyst Kevin Brogan said.
Every city had a higher clearance rate than the same weekend last June.
At the same time last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,008 auctions held and 68.2 per cent reported as successful.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise compared with last weeks finalised results, with Sydney at 77.5 per cent and Melbourne at 75.4 per cent.
Across the smaller capital city markets, week-on-week results show mixed results with clearance rates falling in Brisbane and Canberra.
Across Melbourne, 1,181 homes were taken to auction and preliminary results show a clearance rate of 75.4 per cent, increasing from last weekend when the final clearance rate fell to 74.2 per cent across 1,366 auctions, the lowest clearance rate for the city so far this year.
At the same time last year, Melbourne’s clearance rate was 71.1 per cent, with 970 auctions held across the city.
Looking at Melbourne’s sub-regions, the West region was the best performer in terms of clearance rates, with a 83.5 per cent success rate.
The top weekend sale was a 1970s Hawthorn house for $5.51 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-hawthorn-125400526">17 Fairview Street</a>, (below) the 760 sqm property marketed as suitable to be redeveloped was snapped up by a Chinese buyer who will demolish the five bedroom brick home, Fairfax Media reported. 
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.30.27%20AM.png" alt="">
With views overlooking Fairview Park, Yarra River and CBD, it was last sold in 2007 for $2.8 million.
There was a record price paid in Fitzroy when a couple from Boroondara with three young children secured Fitzroy House at <a href="https://www.realestate.com.au/sold/property-house-vic-fitzroy-125390094">43 Gore Street </a>with a $4.9 million bid.
It at almost $900,000 more than the suburb’s previous record of $4.011 million set by 17 Bell Street last year.
It was sold by Madman Entertainment co-founder Paul Wiegard and his wife Sarah, who spent about $2 million renovating the three-level 1854 house, which cost $2.1 million in 2008.
It was built for surgeon Thomas Embling.
Sydney’s preliminary auction clearance rate increased to 77.5 per cent from 72.7 per cent last week, while auction volumes were lower this week with 1,000 homes taken to auction, compared to 1,101 last week.
At the same time last year, both the clearance rate and auction volumes were lower with 692 homes taken to auction and a clearance rate of 72.9 per cent.
Sydney's top sale was an art deco Russell Lea house sold for $5.15 million with six bidders registering at the auction.
Located at <a href="https://www.realestate.com.au/property-house-nsw-russell+lea-125413062" target="_blank">26 Clements Street</a>, the P&amp;O style residence sits on a double block that overlooks Iron Cove Bay.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.32.12%20AM.png" alt="">
Designed in 1939 by Guy Crick, it was marketed as having potential to renovate or develop through Warwick Williams Real Estate agents Adrian Sereni and Warwick Williams.
There were 146 auctions held across Brisbane this week, down from 162 last week, but higher than one year ago (130).
Preliminary results show that 51 per cent of Brisbane auctions were successful this week, up from 52.2 per cent last week, while one year ago 48.2 per cent of auctions were sold.
A two bedroom timber Woodridge house sold for $241,000 making it Brisbane’s most cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-qld-woodridge-125467238" target="_blank">72 North Road</a> (below), the 875 sqm parcel holding last sold in 1986 for $39,000.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.33.32%20AM.png" alt="">
A total of 107 auctions were held in Adelaide this weekend, down from 112 last week, and up from 98 last year.
Preliminary Adelaide results for the weekend show 63.4 per cent sold, up from 57.6 per cent last week. 
An Aldinga Beach beachfront reserve house sold for $1.45 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-aldinga+beach-125424530" target="_blank">210 Esplanade</a>, the 1800 sqm property is just steps away from the beach, 50km from Adelaide CBD, and a short drive to McLaren Vale.
<img src="https://www.urban.com.au/images/2017/06/04/Screen%20Shot%202017-06-05%20at%208.34.32%20AM.png" alt="">
Modernised since built in 1965, it was last sold in 2009 for $1.175 million and in 2002 for $680,000.
Across Perth, preliminary results show 58.3 per cent of the 12 reported auctions were successful, while one week ago 50 per cent of Perth auctions were successful and one year ago just 13 per cent were sold.
There were 78 auctions held in Canberra this week and the preliminary clearance rate was 71.9 per cent, down from 73.8 per cent last week and similar to one year ago (71.1 per cent).
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Potts Point parking space amongst weekend auction highlights

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GUEST OBSERVER
Data released showed that new home sales rose by 0.8 percent in April after falling by 1.1 percent in March. 
The number of detached house sales rose by 2.2 percent in April. Multi-unit dwelling sales fell by 1.2 percent in April. 
The home sales data has implications for banks, retailers, developers, building and building material companies. 
What does it all mean?
The latest lift in new home sales essentially doesn’t alter the trend. The housing sector has peaked in terms of activity and is likely to be more subdued over the coming year. It is important to keep in mind that overall new home sales remain healthy, but the macro-prudential measure and resulting tight lending standards adopted by the banks will have a more lasting impact on housing activity.
The focus for policymakers will be the mix of investor and owner occupier loans over the next six months and what happens to house prices. It is clear that housing activity is consolidating with potential home buyers being more circumspect on purchases, given higher home prices and the lift in borrowing costs. The softening in home building should lead to a much more sustainable housing market.
Importantly the pipeline of new home building remains solid and should support an array of sectors and broad- based activity. The latest data doesn’t have a great influence on the next interest rate decision. The Reserve Bank is comfortably on the interest rate side lines for the rest of 2017.
<a href="https://www.propertyobserver.com.au/images/2017/06/02/Screen%20Shot%202017-06-02%20at%2012.40.56%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/02/Screen%20Shot%202017-06-02%20at%2012.40.56%20PM.png" alt="">
What do the figures show?
New home sales
In seasonally-adjusted terms, new home sales rose by 0.8 percent in April after falling by 1.1 percent in March. The number of detached house sales rose by 2.2 percent in April. Multi-unit dwelling sales fell by 1.2 percent in April.
 The Housing Industry Association reported: “Amongst the jurisdictions surveyed, New South Wales (+2.2 percent), Victoria (+14.3 percent) and South Australia (+7.0 percent) all posted improving sales figures for private detached houses in April, while both Queensland (-4.7 percent) and Western Australia (-12.7 percent) recorded falls.”
What is the importance of the economic data?
The Housing Industry Association releases data on the sales of new homes each month. The HIA collects the data each month from a sample of Australia's largest 100 home builders. The survey covers around 14 percent of the home building industry. 
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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