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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GUEST OBSERVER
Planning decisions across NSW need to be determined by different independent panels depending on project size.
The current suggestions that development applications should be determined by independent panels will take the politics out of decision making. 
But there need to be different panels depending on the scale of development. Small scale projects should remain with council planners to provide reports to a council independent panel but large projects over $20 million will need a different process.
The over $20 million projects inevitably involve state government agencies like roads and transport so these projects are determined by planning panels. 
In Sydney these are chaired by the Greater Sydney Commission’s District Commissioner. 
Under the current arrangements local council planners prepare a planning report which is provided to the panel to make their decision. 
However, the report often takes a negative position on the proposed development, reflecting the views of local councillors rather than providing an independent, merit based analysis of the proposal. A better process for large projects in
Sydney is to establish six District Planning Offices in each of the Greater Sydney Commission’s districts.
Currently only 1.3 percent of the Development Applications that are processed in Sydney are above $20 million but they are the big projects that represent 47.3 percent of the total construction value of DAs.
 These big projects currently take a massive 271 days on average to be approved and they need specialist planning skills to negotiate with government agencies. 
The six District Planning Offices could second skilled staff from councils in the district into a single office to prepare planning reports. 
The other 98.7 percent of DAs should be processed at the local council level by council planners. Both small and large projects can be assessed by independent panels.
If the NSW Government is going to reform the planning system to make it more independent it should do this in a manner that acknowledges the new governance structure established by the Greater Sydney Commission of six districts. 
A decade or so ago there were very few large precinct wide apartment projects involving hundreds of apartments as well as commercial, retail and open space but now these sophisticated and complex projects are far more common. 
The time is ripe for a more sophisticated planning system that supports larger projects that are ultimately the key to driving Sydney’s housing supply.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI">here</a>.
 
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jchancellor-FAypfDUnLy

Keep planning decisions for small projects with council panels and for large projects with regional panels

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<img src="https://counter.theconversation.edu.au/content/77959/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Sydneysiders are concerned that foreign investors, and particularly Chinese real estate investors, are pushing up housing prices, according to survey findings published this month. 
A majority believed foreign investors should not be allowed to buy residential real estate in Sydney.
The federal budget was the government’s latest attempt at navigating a policy solution that supports its pro-foreign investment position while responding to public concern about housing affordability in Australian cities.
China’s government is also searching for a policy solution to restrict the large amount of capital that’s flowing out of the country. But the Chinese crackdown “doesn’t appear to be working”.
We surveyed almost 900 Sydneysiders to investigate their views on foreign real estate investment. The effectiveness of government regulations on foreign investment and investors was a major concern for respondents.
Views on government regulations
The survey obtained the views of people aged over 18 living in the Greater Sydney region. They were asked about housing affordability, foreign investment, the drivers of Sydney housing prices, and perceptions of Chinese investors specifically.
Support for the government’s regulation of foreign investment in housing was weak. Only 17% of respondents thought it was effective.
<a href="https://www.propertyobserver.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.10.10%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.10.10%20AM.png" alt="">
 
Source: Public Perceptions of Foreign and Chinese Real Estate Investment: Intercultural Relations in Global Sydney
Almost 56 percent of participants believed foreign investors should not be allowed to buy residential real estate in Sydney. Only 18 percent believed this should be permitted.
More than 63 percent of participants disagreed that the “government should encourage more foreign investment in greater Sydney’s housing market”. Only 12 percent of participants agreed with this.
These views stand in stark contrast to the government’s geopolitical support for foreign investment in Australia.
Views on foreign investors
There is little fine-grained data about the impacts of foreign capital and investors on specific neighbourhoods and developments in Australian cities. Therefore, we did not set out to compare public attitudes against the limited empirical evidence on the effects of foreign real estate investment in Sydney.
What’s significant about the survey results is that Sydneysiders have strong views on foreign investment, despite the absence of reliable evidence. Participants’ concerns about foreign investors and investment were consistent with their concerns about the government’s foreign investment rules.
Around 63 percent of Sydneysiders identified the Chinese as the heavyweights of foreign investment. This is likely to be accurate, given the concentration of Chinese investment in Sydney and Melbourne.
When presented with the statement “I welcome Chinese foreign investors buying properties in my suburb”, more than 48 percent of participants disagreed.
Other studies, however, have shown the potential for public confusion between domestic Australian-Chinese and international Chinese buyers.
Views on the drivers of housing prices
Respondents were asked to choose up to three drivers of house prices based on their understanding of Sydney’s housing market. By far the most commonly nominated driver of house prices (64 percent of respondents) was foreign investors buying housing.
<a href="https://www.propertyobserver.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.11.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/30/Screen%20Shot%202017-05-31%20at%209.11.43%20AM.png" alt="">
Source: Public perceptions of foreign and Chinese real estate investment: intercultural relations in Global Sydney 
Roughly one in three survey participants saw low interest rates (37 percent of respondents) and domestic home owners (32 percent) and investors (32 percent) as the drivers of higher housing prices. Local housing analysts generally agree with this.
But more than three in four participants (78 percent) agreed with the statement:
Foreign investment is driving up housing prices in greater Sydney.
When framed inversely, as “Foreign investment has no impact or very small impact on greater Sydney’s housing market”, more than two-thirds of participants (68 percent) disagreed with the statement.
Only 6 percent of our participants disagreed that foreign investment was increasing real estate prices. Around 11 percent agreed that foreign investment had no or minimal impact.
Views on housing supply and affordability
We expected people to report that foreign people and capital are driving up housing prices and making it more difficult for Australians to compete in the housing market. But we were surprised by the findings about Sydneysiders’ views on foreign capital and housing supply.
A strong message from the real estate and property development industries is that foreign investment increases housing supply, which in turn puts downward pressure on prices.
Politicians and lobby groups argue this will help improve housing affordability in major Australian cities. But many housing analysts argue that this supply solution does not stack up for purchases made by either foreign or domestic investors.
It seems that Sydneysiders don’t accept the real estate industry message about foreign investors increasing housing supply, and therefore helping to ease housing affordability pressures.
When asked if “Foreign investment can help increase housing supply in greater Sydney”, 48% of participants disagreed with the statement. Another 25% “neither disagreed or agreed”.
An unresolved policy dilemma
The government’s dilemma is how to manage foreign investment alongside an increasing housing affordability problem in major Australian cities.
This month’s federal budget included a crackdown on foreign investors, but the government still supports foreign real estate investment.
Our survey results support other studies that suggest this pro-foreign investment stance must be accompanied by strategies to protect intercultural community relations. This must happen alongside efforts to improve housing affordability.
 
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank">Dallas Rogers</a> is Senior Lecturer, Faculty of Architecture, Design and Planning, University of Sydney.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
<a href="https://theconversation.com/profiles/alexandra-wong-378393" target="_blank">Alexandra Wong </a>is Engaged Research Fellow, Institute for Culture and Society, Western Sydney University. <a href="https://theconversation.com/profiles/jacqueline-nelson-134741" target="_blank">Jacqueline Nelson</a> is Chancellor's Postdoctoral Research Fellow, University of Technology Sydney.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"></a>
All are authors for The Conversation.
<a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank"> </a>
 
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Sydneysiders blame foreign investors for high housing prices – survey

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<img src="https://counter.theconversation.edu.au/content/78464/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Rather than propping up failing industries, what if government instead provided incentives like tax breaks for expanding firms to locate in regional centres? This would help policymakers avoid a retreat to protectionism while also going some of the way to addressing rising inequality in Australia.
So far in response to failing industries, policymakers have often tried to prop those industries up. They have also spent some money on retraining, provided some small subsidies for relocation, and tried to make education of young people a little more suited to the globalised economy. In short, that’s not enough.
It has led to a bigger economic pie — to be sure. But is has also led to rising inequality. Those with with in-demand skills have seen rising wages. Some of those without such skills have adapted or retrained. But many have never recovered from the advent of globalisation. And it has led to the political arrival of Brexit, Trump and Le Pen. So far.
A retreat to old-style protectionism and industry policy would be a disaster. It would be the economic equivalent of stopping a speeding freight train dead in its tracks. Yet the current approach is not working, and the anti-globalist forces it fuels might be just as bad.
Protect my job
Twelve years ago, Thomas Friedman’s worldwide best seller The World is Flat was published. Friedman emphasised the inevitability of globalisation, while acknowledging that there were winners and losers. 
Yet he argued that the best way to combat the downsides of globalisation was to make the workforce more adaptable though reskilling, more mobile through portability of healthcare and retirement benefits, and more prepared though an emphasis on science, technology, engineering and math disciplines.
That same year Friedman’s book came out, he co-taught a freshman class at Harvard College with economist and university President Larry Summers, and philosopher Michael Sandel. We were PhD students then and the other day we dug out the final exam. The first question on was: 
“From an economic point of view, the case for open immigration is as strong as the case for free trade and capital flows.” Do you agree or disagree? Whether you agree or disagree, would you say that non-economic considerations strengthen or weaken the case for open immigration, free trade, and capital flows?
Twelve years, it turns out, is a long time in globalisation.
Today, in the age of Trump, we live in a world of walls, rising inequality, and protectionism. Forget open immigration, free trade is very much up for grabs.
Last month, President Trump issued an executive order titled Buy American and Hire American, Bill Shorten has been quoted saying “We will buy Australian, build Australian, make in Australia and employ Australians”. The Coalition government — when not closing our borders to foreign talent — is busy impersonating Willie Sutton and taxing banks “because that’s where the money is”.
To be fair, economists shoulder some of the blame for this anti-globalisation turn. The mantra has always been that free trade maximises the size of the economic pie, allowing society to slice it up in a way that makes everyone better off.
If only it were that easy. In practice, jobs disappear. Sometimes whole industries, and towns. 
Re-slicing the pie through cash handouts are problematic. It requires vast amounts of money, doesn’t solve the geographic problems of dying towns, and most importantly it doesn’t provide people with the dignity and sense of purpose that a job does.
Similarly, retraining and reskilling a 55 year-old steel worker to prepare for the gig economy is, well, really hard. But there is an alternative.
A focus on towns not industries
Rather than prop-up failing industries, we should provide incentives, like tax breaks, for expanding firms to locate in regional centres. These could involve lower corporate tax rates, abolishing payroll tax, and immediate deductibility of capital investment. Sometimes it might involve loan guarantees.
The money should go to towns instead because they are a point of coordination in a way that industries are not. If a good size business locates in a town then people locate there. 
Those paychecks drive other local jobs, which drive more people. This, in turn drives more local businesses, local vibrancy, and so on. Towns can be the centrepiece of a virtuous circle of coordination. Industries are important but they are, well, just industries.
At one level, policymakers can’t get away from the “towns problem”. The workers in rural and regional areas who are affected by globalisation aren’t easily moved for numerous reasons, yet not every town can be saved. Figuring out which ones can, through the infusion of new commercial activity, is the key to providing hope for the victims of globalisation.
This approach is not entirely without precedent. China, has made development of new cities a centrepiece of its economic development planning, with numerous very large cities built and infrastructure fully established before residents ever arrive. For instance, the Chinese government recently announced the Xiongan New Area, a city three times the city of New York, to be built near Beijing.
Now, China does this because of population growth, urbanisation pressures, and environmental concerns. Yet it demonstrates the merits, and feasibility, of making the town the centre of policy. Government should be focusing on what it takes to make a town succeed, rather than what it takes to make an industry survive a little longer. 
Adding to these imperatives, Australia is beset by a housing affordability crisis driven by absurd tax breaks like negative gearing that artificially fuel demand, but also by serious supply constraints. Barnaby Joyce’s admonition to move out of capital cities would be made much more compelling by the influx of new businesses and new capital to regional towns. A “picking towns” policy could make housing more affordable across the board.
The side effects of globalisation that have led to our current populist politics will not be successfully addressed by old-style industry policy. But focusing on the aggregate benefits of globalisation is also not working. We need to redistribute those benefits by focusing on regions that can succeed, and breathing new economic life into them.
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a> is professor of Economics and PLuS Alliance Fellow, UNSW.
<a href="https://theconversation.com/profiles/rosalind-dixon-178450" target="_blank">Rosalind Dixon</a> is professor of Law, UNSW.
Both are authors for The Conversation.
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The government should pick towns, not industries, to fund

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The never-ending conversations around housing affordability, particularly around how millennials will get a head-start on the property ladder, has seen a whole raft of suggestions thrown at a possible solution.
I have chosen a 25th percentile price for this analysis which reflects prices at the more affordable end of the housing market and is often more representative of the prices at which first home buyers are looking at to enter the market.
Keep in mind certain states have stamp duty exemptions which exist below specific price thresholds.
<a href="https://www.propertyobserver.com.au/images/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.57.46%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/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.57.46%20am.jpg" alt="">
For this analysis, we have assumed that the first home buyer is purchasing at the 25th percentile price for owner occupation.
City x city stamp duty requirements:
<ul>
<li>Sydney - $25,733 for houses and $273 for units</li>
<li>Melbourne - $11,553 for houses and $8,507 for units</li>
<li>Brisbane - $1,043 for houses and $845 for units</li>
<li>Adelaide - $16,046 for houses and $12,622 for units</li>
<li>Perth - $422 for houses and $402 for units</li>
<li>Hobart - $9,302 for houses and $7,266 for units</li>
<li>Darwin - $7,557 for houses and $6,337 for units</li>
<li>Canberra - $15,107 for houses and $8,303 for units.</li>
</ul>
It’s a common misconception that in order to purchase a home you need a 20% deposit.
<a href="https://www.propertyobserver.com.au/images/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.03%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/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.03%20am.jpg" alt="">
Whilst a 20% deposit is beneficial it is not a necessity however, if you have a deposit of less than 20% most lenders will require you to pay lenders mortgage insurance (LMI).
LMI can be paid up front or capitalised into the loan repayments.
Either way, if a buyer is required to pay LMI, it will result in higher mortgage repayments or a larger up front deposit.
This analysis has made no provision for LMI costs.
<a href="https://www.propertyobserver.com.au/images/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.22%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/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.22%20am.jpg" alt="">
The cost of the deposit along with the stamp duty in each capital city for deposits of 5%, 10%, 15% and 20%, remembering that the stamp duty cost is fixed so the cost increases highlighted reflect the greater savings required for a larger deposit.
Saving for a deposit, even a 5% deposit, is a much tougher task in Sydney and Canberra than it is elsewhere in the country.
A 5% deposit on a house in Sydney requires $59,033, in Canberra it requires $41,357 while the deposits required for a house in all other capital cities except for Adelaide ($32,921) is less than half of the deposit required in Sydney.
Another challenge for potential first home buyers, particularly in Sydney and Melbourne is that household incomes are not growing at the same pace as dwelling values.
Over the 12 months to April 2017, Sydney dwelling values have increased by 16.0% and Melbourne values are 15.3% higher.
<a href="https://www.propertyobserver.com.au/images/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.30%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/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.30%20am.jpg" alt="">
Modelled household income data from the Australian National University (ANU) indicates that over the 12 months to March 2017 Sydney household incomes have increased by a comparatively lower 4.6% and Melbourne household incomes are 2.7% higher.
Entry into the housing market remains a real challenge, particularly in our largest and most expensive capital cities.
Even in cheaper areas, household income growth is fairly slow which makes saving a deposit difficult.
It is unclear as to how, absent a big fall in property prices, housing affordability for first home buyers can be greatly improved.
Governments have tried incentives such as grants in the past and they generally just lead to greater demand and higher property prices.
The future onset for the housing affordability challenge over the coming years could potentially create greater social pressures where our youth may look to move away from the commercial hubs of Sydney and Melbourne because housing costs are too high.
<a href="https://www.propertyobserver.com.au/images/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.41%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/2017/05/25/Screen%20Shot%202017-05-25%20at%2011.58.41%20am.jpg" alt="">
Added to this, businesses may find it increasingly difficult to attract young talent unless they offer opportunities in areas where housing is more affordable, both from a purchase and rental perspective.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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How much first home buyers really need: Cameron Kusher

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Mascot has the biggest unit stock for sale increase in Sydney, according to a recent Investar report.
The property investment firm says that Mascot’s unit stock has risen from 31 to 107, a growth of 245% year on year.
This is followed by Kensington with 120% and Bondi Junction with 115%.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="93">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="83">
Current median price
</td>
<td valign="top" width="83">
Current sales stock
</td>
<td valign="top" width="83">
Sales stock 1 year ago
</td>
<td valign="top" width="83">
Sales stock growth
</td>
</tr>
<tr>
<td valign="top" width="93">
Mascot
</td>
<td valign="top" width="64">
2020
</td>
<td valign="top" width="83">
$850,000
</td>
<td valign="top" width="83">
107
</td>
<td valign="top" width="83">
31
</td>
<td valign="top" width="83">
245%
</td>
</tr>
<tr>
<td valign="top" width="93">
Kensington
</td>
<td valign="top" width="64">
2033
</td>
<td valign="top" width="83">
$989,000
</td>
<td valign="top" width="83">
44
</td>
<td valign="top" width="83">
20
</td>
<td valign="top" width="83">
120%
</td>
</tr>
<tr>
<td valign="top" width="93">
Bondi Junction
</td>
<td valign="top" width="64">
2022
</td>
<td valign="top" width="83">
$930,000
</td>
<td valign="top" width="83">
43
</td>
<td valign="top" width="83">
20
</td>
<td valign="top" width="83">
115%
</td>
</tr>
<tr>
<td valign="top" width="93">
Surry Hills
</td>
<td valign="top" width="64">
2010
</td>
<td valign="top" width="83">
$800,000
</td>
<td valign="top" width="83">
50
</td>
<td valign="top" width="83">
24
</td>
<td valign="top" width="83">
108%
</td>
</tr>
<tr>
<td valign="top" width="93">
North Sydney
</td>
<td valign="top" width="64">
2060
</td>
<td valign="top" width="83">
$949,500
</td>
<td valign="top" width="83">
67
</td>
<td valign="top" width="83">
37
</td>
<td valign="top" width="83">
81%
</td>
</tr>
</tbody></table>
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-mascot-124980986" target="_blank">288/635 Gardeners Road</a>, Mascot (above) has been listed for sale.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-mascot-124369398" target="_blank">1271-1277 Botany Road</a>, Mascot (below) has been listed for between $859,000 to $898,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/05/1271-1277%20Botany%20Road.jpg" alt="">
A two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-mascot-124493114" target="_blank">309/9 John Street</a>, Mascot (below) was sold this February for $865,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/05/309_9%20John%20Street.jpg" alt="">
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-nsw-mascot-123555638" target="_blank">144/635 Gardeners Road</a>, Mascot (below) was sold September last year for $878,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/05/144_635%20Gardeners%20Road.jpg" alt="">
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Mascot unit stock increases by 245% in a year: Investar

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A retail property in Melbourne’s Brighton has sold for $1.45 million in an off-market transaction, on a record yield of 1.6% yield.
The <a href="https://www.domain.com.au/property-profile/165-martin-street-brighton-vic-3186" target="_blank">165 Martin Street</a> property was formerly the home of the iconic Gardenvale Collectables, which specialised in historic VFL/AFL and sports memorabilia, and is now occupied by Laser &amp; Lashes. 
The selling agent was Fitzroys’ Mark Talbot, who recently sold the property next door as well. 
The property at 167 Martin Street sold for $1.55 million on a yield of 2.2%.
The 165 Martin Street property is located in the strip’s popular retail and hospitality precinct between Nepean Highway and Gardenvale train station.
“Martin Street is a thriving retail village surrounded by specialty retail and hospitality options, situated in one of the Melbourne’s most prestigious suburbs, and has significant potential for investors and owner occupiers,” Talbot said, adding the buyer didn’t want to pass up on the opportunity to secure a site in one of Melbourne’s most tightly held retail strips. 
“The precinct is surrounded by an established residential community that is slated for further population growth, and has a number of top-class education facilities nearby.” 
He said the large volume of enquiry for 167 Martin Street was able to be successfully converted into another record-breaking sale that satisfied both the vendor and purchaser. 
This marks Talbot’s third sale in the suburb over the past two months.
He also recently sold the two-storey café and dwelling building at 305 Bay Street, adjacent to North Brighton Station, at auction on a 3.3% yield for $2.255 million, setting a new benchmark price for a single-front retail property on Bay Street. 
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Brighton retail property sells on record yield of 1.6 percent

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Victoria had three office sales in the first quarter of 2017 for a combined total of $730.5 million dollars, with New South Wales nine sales for a total of $605.8 million according to the Quarter Times National Office report from Savills.
Some 14 leases were signed in Victoria and Queensland during that time and 13 in New South Wales.
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<a href="https://www.propertyobserver.com.au/images/2017/05/30/Screen%20Shot%202017-05-30%20at%2012.17.47%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/30/Screen%20Shot%202017-05-30%20at%2012.17.47%20PM.png" alt="">
 Office sales in the North Shore of Sydney totalled $446 million in the first quarter, wth Macquarie Park $120 million and the CBD at $9 million.
Sales in the Canberra suburb of Civic came to $321 million and the Brisbane fringe $205.5 million. 
<a href="https://www.propertyobserver.com.au/images/2017/05/30/Screen%20Shot%202017-05-30%20at%2012.19.01%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/30/Screen%20Shot%202017-05-30%20at%2012.19.01%20PM.png" alt="">
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Q1 office sales in Victoria total over $730 million: Savills

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Aventus Property Group has purchased Home Hub Castle Hill and Home Hub Marsden Park for $436 million, beating off competition from Gerry Harvey to buy the two centres.
The sale represents a weighted average capitalisation rate of 5.6 percent.
Home Hub Castle Hill was purchased for $336 million at a fully leased yield of 5.50 percent and Home Hub Marsden Park for $100 million at a fully leased yield of 6.00 percent.
Simon Rooney, JLL’s head of retail investments, Australasia, said there is a very limited number of major, core assets in the LFR sector across Sydney, so these presented a rare opportunity to acquire significant scale in the sector.
"The sale of Home Hub Castle Hill and Home Hub Marsden Park was the largest homemaker transaction in Australia’s history," he said.
“The yield achieved resets the benchmark for premium large-format retail assets and represents a new record low for the sector.
"For this particular transaction, investors were forward buying growth by pricing in the potential for strong cash flow and rental uplifts.
"The fundamentals of both assets are well supported by population growth in each catchment of 1.8 percent for Castle Hill and 2.1 percent for Marsden Park, said Rooney.
The portfolio was marketed by JLL in conjunction with McVay Real Estate on behalf of LaSalle Funds Management Limited.
Home Hub Castle Hill features a total of 52,004 sqm built over two multi-level centres and includes parking for 1,490 cars on a combined site area of 59,820 sqm.
Tenants include The Good Guys, Nick Scali, JB Hi-Fi, Harvey Norman, Officeworks, Toy ‘R’ Us &amp; Babies ‘R’ Us, Domayne and Freedom, and 64 specialty retailers.
Home Hub Marsden Park is on 19,832.6 sqm, with parking for 451 cars and a site area of 39,900 sqm. It is securely leased with long-term tenure to JB Hi–Fi Home and The Good Guys and features 22 large format and 10 food-based retailers on ground and 7 tenancies on an upper level.
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$436 million sale of Home Hub Castle Hill and Marsden Park

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Redevelopment of the Maroochydore CBD on Queensland's Sunshine Coast is driving local commercial property sales.
Emily Pendleton from Ray White Commercial North Coast Central said Maroochydore is being fast tracked to become the business, community and employment hub of the Sunshine Coast.
"The new Maroochydore City Centre will be instrumental in building and strengthening the region, providing a mix of residential, commercial, retail, civic and community uses to develop a thriving and vibrant business district and city centre,” she said.
“Any property around the new Maroochydore City Centre is getting serious attention from both owner occupiers and investors.
“There is a real hype around the immediate precinct including Maud Street, Sugar Road and Norval Court, which is exciting to see."
She said the $390,000 sale of a tenanted commercial investment property at 13/12 Norval Court, Maroochydore, for a 7.0 per cent yield highlighted the impact of the new city centre.
“This 146 sqm property has a long-term tenant in Phoenix Yoga Studio and my colleague Tamara Thorogood and I sold it to a local investor after less than three weeks on the market,” she said.
“The Norval Ct property we sold is close to the SunCentral CBD rejuvenation project.“
Construction has commenced on the Maroochydore City Centre, slated to deliver 215,000 sqm of commercial and retail space and provide more than 30,000 new jobs.
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Maroochydore CBD redevelopment luring commercial investors

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An 88 square metre strata titled retail investment in the Maroochydore CBD has sold for $423,000 to a local investor.
The property at Unit 4, 31-33 Plaza Parade sold for a current net yield of 6.43 percent on passing income.
Will Carman and Peter Capps of Savills said the property sold within a week of its campaign starting via an offers to purchase campaign.
The property had previously sold in November 2016 for $385,000.
Capps said the owner deciding to put the space back on the market when other opportunities took priority.
“Also of great appeal to investors was the location of the property, on Plaza Parade, and the fact it now  provides easy access to the Sunshine Coast Motorway, north and south, and into the Maroochydore CBD via Maroochy Boulevard.”
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