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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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.

[smartcode_project:default project_id=135096 project_image_fid=356818]

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."

[smartcode_project:default project_id=135096 project_image_fid=356828]

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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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

<html><body>
Coffs Harbour in New South Wales is approaching the peak of market position for offices, according to valuation firm Herron Todd White's April report, which focuses on the office market.
The office market in Coffs Harbour features an oversupply with limited enquiry for leasing at stable or slightly softer rental levels. 
There are a number of office project developments on hold until pre-sales or leasing is effected. These projects range from smaller strata title office projects to larger developments. The eastern precinct of the CBD remains prime with rental levels of $330 per square metre to $400 per square metre. 
Secondary or dated offices remain difficult to let. The impacts of reduced government spending, limited availability of grants and the retractionist policies are clearly evident in the Coffs Harbour regional office market. 
There is a lack of sales and leasing transactions within the office sphere of the market. Generally yields within Coffs Harbour remain firm based on the prevailing low interest rate climate. 
Leasing activity is restricted with serious owners having to offer lease up incentives or rent-free periods to attract quality tenants. 
As an example, a commercial building leased to a law firm at <a href="https://www.realcommercial.com.au/property-offices-nsw-coffs+harbour-502317902" target="_blank">134 West High Street</a> in the CBD recently changed hands for an undisclosed sum.
The tenant pays all outgoings and the property earns a net Income of $186,500 pa + GST.
 <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/2017/04/21/CoffsHarbour.jpg" alt="">
The selling agents were Rhys Parker of Burgess Rawson and Troy Mitchell of LJ Hooker Commercial.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Coffs Harbour office market is oversupplied with limited leasing: HTW 

<html><body>
The Melbourne industrial market has opportunities for first time industrial investors with affordable price points throughout the outer suburbs, according to valuation firm Herron Todd White’s May review.
Investor opportunities are most notably outside the Metropolitan Ring Road to the west and north, east of the East Link Tollway and south-east of South Gippsland Highway. These include suburbs such as Cranbourne West, Kilsyth, Epping and Ravenhall. 
“Such locations are favoured due to their price affordability, proximity to amenities and access to main road linkages as well as nearby developing residential areas,” say HTW in their report.
So far in 2017, the industrial market in Melbourne has been tracking well, with a noticeable increase in values over the previous 12 months, it adds. 
The market has been assisted by continually low interest rates, low rental levels which continue to be stable and an increasing demand for smaller warehouse units. 
This increasing demand for small strata title warehouse units often appears to be for purchasers looking to create their own man cave without losing any space at their primary business location or at their family home. 
Increased infrastructure spending has also impacted on property values in a positive direction, with the widening of the Tullamarine Freeway, Monash Freeway and the beginning of the Western Distributor project, among others, assisting transportation and logistics businesses throughout metropolitan Melbourne. 
“In light of the above, we consider a good industrial investment property to be identifiable through these basic property fundamentals: 
<ul>
<li>Good access </li>
<li>No oversupply </li>
<li>Small to medium sized property </li>
<li>Good traffic management </li>
<li>Good ingress and egress </li>
<li>Access to sufficient parking </li>
</ul>
A property lacking in a number of the above areas would be considered unfavourable and less sought after in the market place. The industrial property market is expected to be fairly positive throughout 2017. 
Provided there is no oversupply or external shocks to the market, with population growth and increases to lower levels of the economy, property values are likely to continue growing in the short to medium term, the report concludes.
</body></html>

Melbourne’s industrial market offers affordable options to new investors: HTW  

<html><body>
A new $500 million mixed-use development project on the West Melbourne waterfront has been given planning approval by the City of Melbourne.
Developer Perri Projects has been given approval for the 2.8 hectare industrial site that feeds into both the Hobsons Road and Dynon urban renewal precincts.
An independent planning panel was appointed by the Minister for Planning, Richard Wynne, to consider submissions and make recommendations for the project.
The project is now before the Minister awaiting final sign off before the precinct rezoning is officially gazetted.
The rezoning will allow for a diverse residential and commercial precinct and the revitalisation of 2,000 square metres of waterfront land, currently inaccessible to the public.
Approximately 10,000 square metres of the site will form part of a new public realm, including a new waterfront public park.
The development will also create 800 metres of new bike lanes and includes upgrades to footpaths and lighting to provide safer transport links.
Perri Projects’ managing director, David Scalzo, said the project will aim to set a new benchmark for waterfront living and integrated mixed-use precincts.
“We’re incredibly pleased with the outcome of the recent council meeting. We are proud of this project and the benefits it will deliver for future residents and the wider Kensington and West Melbourne community,” Scalzo said.
“This project has been a decade in the making, working closely with council and key stakeholders every step of the way to ensure key community benefits could be delivered as part of the revitalisation.
“The process has been very collaborative and we are excited to start bringing this vision to life.
“We now look forward to creating a detailed development plan that will transform this underutilised pocket of land into a world-class waterfront precinct and exemplar mixed-use development, consistent with Plan Melbourne and council’s Municipal Strategic Statement.”
</body></html>

City of Melbourne gives nod to $500 million West Melbourne waterfront precinct

<html><body>
Mark Bouris, executive chairman of Yellow Brick Road, says borrowers need to vote with their feet.
"Quite simply, if the banks ratchet up rates and costs, go elsewhere and borrow from another lender," he wrote in his weekly Fairfax column.
He noted the property federal budget bank levy goes back to 2008, when a financial crisis was building and the four major trading banks – plus Macquarie Bank – wanted assistance from the federal government to stabilise our financial system.
"The government – actually, the taxpayer – guaranteed Australian deposits at deposit-taking institutions, up to $250,000.
"The banks also got a governmentguarantee over some bank debt and an ongoing facility up to $180 billion, which gave the banks access to very cheap debt.
"This new levy is 0.06 per cent of this government-guaranteed facility – it’s a very low charge for allowing banks to reduce their overseas borrowing costs and therefore, make bigger profits.
"So why would the bank charge you for giving it access to the cheapest capital?," he asked adding we’ll see what the banks decide to do – absorb the levy or pass it on.
He told borrowers there are only five banks being taxed with the levy.
"But have a look at a comparison website and you’ll see many lenders out there, from credit unions and building societies to small and regional banks, as well as loans offered by mortgage brokers and other financial services players.
"On any week, there can be a 1 per cent difference in interest rate between the lowest cost and most expensive standard variable mortgages.
"Why pay more than you should?"
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mark Bouris says look for the 1 percent difference in available mortgage rates

<html><body>
More than 100 historic castles, farmhouses and monasteries in Italy are being offered for free, provided the premises are transformed.
They must become tourist attractions such as hotels, restaurants or shops.
The applicants, who are being targeted as entrepreneurs under 40, must advise how they intend to transform the building into an attraction.
Successful applicants will be given rights to the property for a nine year leasehold, with the option to extend for a further nine years.
Italy are set to introduce another 200 properties to the list within the next two years.
One of the most impressive properties on the <a href="https://www.agenziademanio.it/opencms/it/ValorePaese/camminiepercorsi/" target="_blank">103 strong list</a> is Castello di Blera, an 11th-century castle in Lazio.
The cliffside residence still maintains most of its original medieval features.
The 12th century built Torre della Bastiglia near Bologna that overlooks a nearby castle also features.
The list includes many old school-houses, palaces and inns.
Roberto Reggi from the State Property Agency told The Local Italy that the project will promote and support the development of the slow tourism sector.
"The goal is for private and public buildings which are no longer used to be transformed into facilities for pilgrims, hikers, tourists, and cyclists."
</body></html>

jrobinson-rf4aSBido9

Historic castle giveaway in Italy

<html><body>
GUEST OBSERVER
Budget position: The Department of Finance released the April monthly financial statements. This note examines the latest data.
Budget improves: In the twelve months to April 2017, the Budget deficit stood at $36.7 billion (around 2.2 percent of GDP) – the lowest rolling annual deficit recorded in the past 14 months and better than the average deficit over the past year of $38.7 billion.
Lower-than-expected deficit: The Department of Finance says the “the underlying cash balance for the financial year to 30 April 2017 was a deficit of $36,078 million, which is $1,577 million lower than the 2016- 17 Mid-Year Economic and Fiscal Outlook (MYEFO) profile deficit of $37,654 million.”
<a href="https://www.propertyobserver.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.45.17%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.45.17%20PM.png" alt="">
The monthly Budget figures can provide insights on the broader economy and policy settings. If fiscal settings are tight, the Reserve Bank may allow easier monetary settings.
 
What does it all mean?
The Federal Budget remains on track to meet Government forecasts. Not only are rolling annual aggregates showing improvement, so are the so-called ‘profile’ positions estimated by the Department of Finance.
 The Government continues to exercise spending restraint. In fact expenses or payments were $3.2 billion below the so-called ‘profile’ level or government estimates for this point in the year. Revenue also is lifting with the rolling annual level of revenues growing at a 7.2 per cent annual pace – the fastest growth in almost four years and faster than growth in payments for the 24th straight month.
 The Budget is currently in a stronger position than the government’s finance boffins have estimated. The good news is that improvement is coming from both sides of the balance sheet.
<a href="https://www.propertyobserver.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.46.53%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.46.53%20PM.png" alt=""> 
Growth of GST revenues slowed in April, but as always for this time of year the timing of the Easter and school holidays complicate analysis.
What do the figures show?
In the twelve months to April 2017, the Budget deficit stood at $36.7 billion (around 2.2 per cent of GDP) – the lowest rolling annual deficit recorded in the past 14 months and better than the average deficit over the past year of $38.7 billion.
Smoothed revenues (twelve months to April) were up 7.2 per cent on a year ago – the fastest growth in 45 months. Expenses rose by 3.8 per cent over the same period – the lowest growth in five months.
<a href="https://www.propertyobserver.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.48.01%20PM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/29/Screen%20Shot%202017-05-29%20at%2012.48.01%20PM.png" alt="">
The Department of Finance noted: “ The underlying cash balance for the financial year to 30 April 2017 was a deficit of $36,078 million, which is $1,577 million lower than the 2016-17 Mid-Year Economic and Fiscal Outlook (MYEFO) profile deficit of $37,654 million.
In terms of the fiscal balance, the Department of Finance noted: “The fiscal balance for the year to 30 April 2017 was a deficit of $30,037 million, which is $9,043 million lower than the 2016-17 MYEFO profile deficit of $39,080 million. The difference results from higher than expected revenue and lower than expected expenses.”
Receipts: “Total receipts were $1,008 million lower than the 2016-17 MYEFO profile.”
Payments: “Total payments were $3,222 million lower than the 2016-17 MYEFO profile.”
The Government currently expects an underlying deficit of $37.6 billion for 2016/17 (around 2.1 per cent of GDP).
Receipts from the Goods and Services Tax stood at $61.6 billion in the twelve months to April, up 3.7 percent on a year ago, but below the 5.4 percent growth over the last twelve months. At the Mid-Year review in December, the Government forecast GST receipts of $62.41 billion for the entire 2016/17 year.
Actual GST receipts for the 10 months to March stood at $52.499 billion, just below the Budget ‘profile’ of $53.031 billion.
What is the importance of the economic data?
The Department of Finance releases the Government Financial Statements (Niemeyer Statement) almost every month. The statement allows investors to track the current Budget position and provides insights into the effectiveness of fiscal policy.
What are the implications for interest rates and investors?
The Federal Budget is on track to meet forecasts. Spending restraint is driving the improvement but growth of annualised revenues is the fastest in almost four years.
 The Reserve Bank would be encouraged by the status of fiscal policy. The Government continues to spend on infrastructure but is showing restraint on recurrent expenses.
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx">CommSec</a>. 
</body></html>

cjames-5S2v74qSNK

Smallest deficit in 14 months: Craig James

<html><body>
Treasurer Scott Morrison had said before the budget that it would be a budget that remembers the renter, but very little was said during its presentation on May 9 except that the government was working with state and territory governments to “standardise use of long-term leases”.
It said the measure would provide “more security for renters”. 
But in practice, there is no increase in rent assistance to help low-income renters in the private rental market.
For the majority of Australia’s renters, housing will remain unaffordable, insecure and out of reach, according to Emma Power, a senior Research Fellow at Western Sydney University.
Morrison had said before the budget that, “You have got to remember that over 30% of Australians actually live in homes that are rented, and when people are finding it hard to get into the housing market that puts a lot more pressure on the rental market.”
Affordable housing has an important place in the housing system. However, below-market rents in central, work-rich regions are still extremely high and out of reach for many.
Of more concern, it is unlikely that many of these lower-income workers would be able to maintain their high rents at retirement. This generates two risks:
<ul>
<li>that the renter is evicted and forced to find housing on the private market, which puts them at high risk of homelessness</li>
<li>that the housing provider continues their commitment to house the tenant securely once their income drops, so the risk here is to the housing provider’s bottom line.</li>
</ul>
They will face a loss of income, as they drop rents from 80 percent of market value to around 30 percent of the retired person’s pension. 
</body></html>

Few measures in budget to help renters

<html><body>
GUEST OBSERVER
The first federal budget delivered since the July 2016 election has seen the government attempt to help first home buyers save for a deposit, incentivise downsizers to move and address the much needed under investment in affordable housing.
While no single item contained in this year’s budget is expected to have a major impact on property markets, the combination of several smaller demand and supply side measures should help increase housing stock and moderate affordability pressures.
Summary of Changes
Budget deficit of $29.4b expected in 2017/18, returning to a surplus of $7.4b in 2020/21.
First-home buyers to salary-sacrifice up to $30,000 into their superannuation to help save for a home deposit.
Downsizers will be able to put $300,000 each into their superannuation, from the proceeds of their principal residence.
New measure, including a bond aggregator, to help boost the supply of affordable housing.
$75 billion commitment for new and existing infrastructure projects, including inland rail and a new Sydney airport
The Detail
Economics
The final position for the 2017/18 financial year is forecast to be a deficit of $29.4 billion, representing 1.6 percent of GDP, down from $37.6 billion in 2016/17.
Forecasts also suggest economic growth (GDP) will pick up from 2.75 percent this financial year to 3.00% in 2017/18.
First Home Buyers
A new first home buyer initiative, allowing the demographic to salary sacrifice into their superannuation, should help this group save for a deposit. These voluntary contributions and associated earnings will be taxed at 15 percent rather than marginal rates and be limited to $15,000 per year and $30,000 in total.
Downsizers 
The budget encourages seniors to downsize from long-held, larger homes. This measure will allow a person, aged 65 or over, to make an additional non-concessional contribution of up to $300,000 from the proceeds of selling their principal residence, if owned for 10 years or more.
In addition, both members of a couple will be able to take advantage of this measure for the same home. This is a positive measure from the government and will hopefully be the catalyst to bring under-utilised family homes to the market. 
Affordable housing
The government has made a welcome and significant commitment to the provision of affordable housing. They have tasked Treasury to set up the National Housing Finance and Investment Corporation which will operate an affordable housing bond aggregator. This bond will help provide cheaper and longer term finance for community housing providers.
Other housing related changes
Property investors who negatively gear property will no longer be able to claim travel expenses. In addition, there are some limits being placed on the depreciation of plant and equipment. Property developers will be prevented from selling more than 50 percent of a new development to foreign investors.
Foreign investors will be levied $5,000 per year for any property that they fail to occupy or lease for at least six months every year.
There are also some capital gains tax changes directed at foreign investors. These include denying them access to CGT main residence exemption, increasing the withholding tax rate and threshold.
Infrastructure
New infrastructure commitments help reduce commute times, increases productivity, makes outer-ring suburbs and new housing areas more accessible and attractive and boosts local employment opportunities. The 2017/18 budget commits around $75 billion to new and existing infrastructure projects over 10 years. The proposed establishment of a $1 billion National Housing Infrastructure Facility providing financial assistance to local governments for infrastructure that supports new housing leads the measures.
Big ticket items
$5.3 billion has been committed for the Western Sydney Airport Corporation to build and operate the new Badgerys Creek Airport. There’s also $8.4 billion for the Brisbane to Melbourne Inland Rail. This project, if delivered, will be a major boost for regional centres on the route. 
Victoria has also been allocated a $1 billion infrastructure package to help plan, develop and build new projects and upgrade existing infrastructure. Victoria has also been assigned $550 million to fund regional rail. The Bruce Highway in Queensland will have an additional $844 million spent to upgrade the road. Western Australia has also seen an additional $1.6 billion allocated for new projects, this will be spent on roads, hospitals and metro rail.
Mat Tiller is head of research at LJ Hooker and can be contacted <a href="https://www.ljhooker.com.au/" target="_blank">here</a>.
</body></html>

rhinocombatsports-HJn6ZzTZBc

Federal Budget 2017 review and impact on real estate: Mat Tiller

<html><body>
The federal budget announced that an affordable housing bond aggregator would be created to raise money at lower rates from the wholesale bond market for not-for-profit community housing providers.
The government will provide $63.1 million over four years from 2017-18 (including $4.8 million in capital) to establish and run The National Housing Finance and Investment Corporation (NHFIC).
The NHFIC is based on the bond aggregator models of Australian Housing and Urban Research Institute Limited that were presented to federal, state and territory Treasurers in a report of the Affordable Housing Working Group (AHWG) late last year, according to AHURI’s website.
It has compiled a list of new measures for housing and homelessness featured in the 2017 budget.
The final details of the NHFIC will be determined following advice from the Affordable Housing Implementation Taskforce, due by mid-2017 with the corporation to start operations from July 1, 2018.
The budget announcement “is safe policy territory and sound strategy,” according to Honorary Associate Professor, RMIT University’s Julie Lawson whose post was carried by Property Observer. 
The social housing sector and all major parties have supported housing bonds and a special-purpose intermediary since the 2015 report of the Senate Inquiry into Housing Affordability, Lawson said.
The NHFIC will also administer the National Housing Infrastructure Facility (NHIF) that will, over five years, provide $1 billion to support local governments finance critical infrastructure such as transport links, site remediation works and power and water infrastructure needed to speed up the supply of new housing.
Concessional loans totalling $600 million, equity investments worth $225 million and $175 million in grants will be made to local governments through state and territory governments.
The 2017 Budget also replaces the National Affordable Housing Agreement (NAHA) between the Commonwealth, states and territories with a new National Housing and Homelessness Agreement (NHHA) to operate from July 1, 2018.
The NHHA will combine funding currently allocated under the National Affordable Housing Specific Purpose Payment (NAHSPP) and the National Partnership Agreement on Homelessness (NPAH).
It will target jurisdiction-specific priorities including supply targets, planning and zoning reforms and renewal of public housing stock while also supporting the delivery of frontline homelessness services.
Funding for both the housing and homelessness sectors will be ongoing and indexed, with the Commonwealth contributing $4.6 billion to the NHHA between 2018 and 2022.
As part of this funding, the government will provide $375.3 million over three years from 2018–19 to fund ongoing homelessness support services, with funding matched by the states and territories.
</body></html>

AHURI research supports Budget 2017's affordable housing finance model

<html><body>
Commercial property sales in the Docklands have decreased in number and in total sales value, according to CoreLogic’s Cityscope.
For the quarter to January 2017, there were eight sales at a total sales value of $78.8 million, compared to 10 sales at a total value of $186 million for the previous quarter, said the property data firm. 
The yearly figures have declined in number and total value, with 37 sales at a total value of $297.8 million for the twelve months to January 2017, compared to 51 sales at a total value of $524.6 million for the previous year.
The table below shows sales recorded for the past eight updates of Docklands Cityscope.
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Corelogic-1.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Corelogic-1.jpeg" alt="">
Notable sales in the January 2017 update of Docklands Cityscope include:
<ul>
<li>The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 and with a net lettable area 10,362 sqm, which sold for $72.7 million through Colliers International and</li>
<li>Unit 13 in The Palladio at 42 Newquay Promenade, a 323 sqm retail area on the south-western corner of the property, a series of integrated buildings with ground floor retail units and apartments above, which was bought for $2 million through MP Burke Commercial – Melbourne.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Corelogic-2.jpeg" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Corelogic-2.jpeg" alt="">
Properties listed as for sale in the January 2017 update of Docklands Cityscope include:
<ul>
<li>Shop 1 at 439 Docklands Drive, a 200-sqm retail premises on the ground floor of the west building available with an asking price of $1.8 million through No Agent Property – Moorabbin;</li>
<li>Suite 815 at 401 Docklands Drive, a commercial unit on the east corner of level 8, Suite 816, 401 Docklands Drive, a commercial unit on the west corner of level 8, Suite 817, 401 Docklands Drive, a commercial unit on the east corner of level 8 and Suite 818, 401 Docklands Drive, a commercial unit on the south-east corner of level 8 available together through Colliers International – Geelong.</li>
</ul>
Leasing opportunities listed in the January 2017 update of Docklands Cityscope include:
<ul>
<li>737 Bourke Street, an 11-storey building completed in late 2008, comprising 16,000 sqm of office space and 1,100 sqm of retail premises plus basement car parking for 231 cars, has 1,300 to 1,345 sqm for lease through CBRE – Melbourne and Investa Property Group;</li>
<li>The Gauge at 825 Bourke Street, an eight-storey office building completed in 2008 with ground floor car parking, has office space of 335 to 1,508 sqm for lease through CBRE – Melbourne and</li>
<li>380 Docklands Drive, an A-Grade, 11-storey office building with parking, has office space of 1,000 sqm for lease Colliers International – Melbourne and CBRE – Melbourne.</li>
</ul>
</body></html>

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

The inflation result the property market was waiting for

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News