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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<img src="https://counter.theconversation.edu.au/content/76791/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">GUEST OBSERVER
The budget acknowledges the crisis of affordability for first home buyers, but fails to do enough about demand pressures on prices to put home ownership back within their reach.
In its 2017 budget, the federal government repeatedly stated its preference for a “scalpel” rather than a “chainsaw” or “sledgehammer” approach to demand management in the housing market.
The number of housing measures in the budget are more wide-ranging than in previous budgets of recent times. Policy levers on both the supply and demand side have been incorporated within a raft of housing measures. The government claims this is a “comprehensive package that can make a difference”.
However, do the demand measures go far enough to make much-needed inroads into the housing affordability crisis now facing an entire generation of would-be first home buyers? Or is the so-called scalpel too blunt to make a meaningful difference for them?
<h2>First Home Super Savers Scheme</h2>
The budget’s key housing measure for helping young people gain a foothold on the home-ownership ladder is to allow first home buyers to use up to A$30,000 of voluntary superannuation contributions for a deposit on their first home.
Clearly, the scheme will attract the tax advantages of superannuation. Therefore, in principle, it will help first home savers accelerate their savings to buy a home, thus bridging the deposit gap, while protecting superannuation savings accumulated through compulsory employer contributions.
However, at least two key questions are pertinent.
The first relates to how many first home buyers will likely be well positioned to make voluntary contributions to their super saving account. There appears to be a general reluctance among Australians to make voluntary contributions.
Existing research has found household budget constraints are a major barrier that make it unaffordable for many to make voluntary superannuation contributions. Poor financial literacy and lack of knowledge of the superannuation system are other factors.
The second key question relates to the scheme’s impact on property prices. The scheme does not aim to ease demand pressures in the housing market. It is likely that high house prices will not be curbed, so the prospects of home ownership will continue to fade for many first home buyers.
Existing demand-side levers, including the First Home Owners Grant and stamp duty concessions for first home buyers, have not succeeded in improving the affordability of houses for most young people. Hence, it is difficult to see how an additional demand lever such as the First Home Super Savers scheme is going to have a substantial impact on affordability.
This is not to say that the budget has completely ignored the need to temper demand tensions in the property market.
Demand pressures can be eased via measures that target two other types of property owners – older home owners and property investors. The budget does contain measures that target both groups. Yet again, the question remains as to whether the levers are long enough to produce meaningful impacts.
<h2>Targeting older owners and property investors</h2>
Older downsizers aged over 65 years will be allowed to channel up to $300,000 from the sale proceeds of the family home into their super fund.
Many older home owners are living in larger dwellings than they need after their children leave home. Helping elderly home owners – sometimes coined “last home buyers” – to downsize into smaller dwellings can free up larger homes for first home buyers in earlier stages of life who are forming families.
However, the impediments to downsizing are many. These include financial barriers but also non-financial barriers. Importantly, most elderly home owners have strong emotional attachments to their family home and local community.
However, a lack of appropriate and affordable dwellings in neighbourhoods where older owners would like to stay also poses barriers to downsizing. For downsizing reforms to be effective, financial incentives will need to be accompanied by supply-side solutions that broaden the diversity of the housing stock so older home owners’ housing preferences and needs can be met.
The government has not made any significant changes to tighten negative gearing or capital gains tax concessions to reduce competition from property investors. Concern has focused on the potential contraction of private rental housing supply should investors withdraw en masse from the private rental market. However, a longer-term perspective would take into account second-round effects.
As investors sell off their rental properties, more properties will become available in the market to meet demand from first home buyers. This will not only have the impact of easing tensions in the rental market as more renters become home buyers, but it will also encourage subsequent second property investment as young career-builders seek to accumulate more wealth in their property portfolios after securing their first home.
Such second- and third-round effects need to be incorporated more into policy thinking so that policy design rests on not just short-term, but medium-to-long-term, considerations.
<h2>Is the scalpel sharp enough?</h2>
The budget contains myriad demand and supply levers that directly or indirectly aim to assist young people with their first home purchase. It represents an overdue but welcome acknowledgement on the government’s part that much needs to be done to improve home-ownership prospects for first home buyers.
A package of measures that seeks to influence both supply and demand simultaneously in the housing market is, in principle, a sensible approach to an entrenched policy concern such as housing affordability. However, in practice, policy design matters.
In the case of the 2017 budget, it would appear that the scalpel will need a whole lot more sharpening if it is to make an effective incision into the housing affordability crisis that’s plaguing an entire generation of aspiring home owners.
Rachel Ong is deputy director of the Bankwest Curtin Economics Centre, Curtin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">here</a>.
</body></html>

jchancellor-FAypfDUnLy

Budget needs a sharper policy scalpel to help first home buyers: Rachel Ong

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<img src="https://counter.theconversation.edu.au/content/76793/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">GUEST OBSERVER
The bond aggregator by itself cannot create a housing development pipeline. It needs co-investment from government to make it feasible.
Following Treasurer Scott Morrison’s outburst in April over the meagre supply outcomes delivered by state housing agencies, cool Treasury heads have prevailed in the budget.
The Commonwealth has not withdrawn its support. Rather, it will negotiate clear targets under a new national agreement, and aim to ring-fence capital investment to improve social housing outcomes. This will now complement the government’s new strategy of issuing bonds to finance affordable rental housing.
Morrison has already set up a taskforce to fine-tune a new bond aggregator, which the budget proposes to roll into a larger National Housing Finance and Investment Corporation (NHIFC). Establishment funding of A$9.8 million and a $1 billion loan facility will get things moving.
This is safe policy territory and sound strategy. 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. It demonstrates the explicit, long-term government commitment required to shore up investor confidence.
If the taskforce gets the design right, the intermediary will provide lower-cost, longer-term financing for affordable rental housing. This will mean public investment goes further and is recycled to build more affordable homes for those who need them.
Yet investment-ready social housing still has several requirements for success. These include good transparent planning, equity, revolving loans, and adequate revenue from rents and rent assistance. Appropriate national regulation is vital, which is also flagged in the budget.
However, without conditional public co-investment and good regulation, the government will miss its own targets and under-invest in this much-needed social infrastructure.
<h2>No silver bullet – feasibility depends on subsidy</h2>
The bond aggregator by itself cannot create a development pipeline. It needs co-investment from government to make it feasible.
Community housing providers can only afford the amount of debt that modest rents and rent assistance can support. Modelling for a 2016 feasibility study found that about 45% of the cost of dwelling construction can be raised when operated as social rental housing, even with the lower rate and longer term of finance the aggregator can provide.
Thus deeply affordable social housing will always require public subsidies. This takes the form of grants, soft loans, or land allocated via public land corporations or planning requirements.
<h2>Policy orphan finally gets Treasury’s attention</h2>
Writing for The Conversation, Chris Martin and Hal Pawson summed up past performance:
It should be no surprise that Australia’s social housing has been largely static for 20 years. Everything we know about the system tells us it is not funded to even cover the costs of its ongoing operation, let alone growth to meet the needs of an expanding population. Aside from a one-off boost under the 2009 federal economic stimulus plan, social housing has been on a starvation ration for decades.
National governments in Austria, the UK, France and the US have made up for shortfalls in social housing funding with good regulation and by attracting private finance since the 1990s. They have done so by establishing a market for special-purpose bonds, government guarantees, special intermediaries, tax credits and supporting circuits of investment in affordable and social rental housing.
These measures often favour not-for-profit housing providers, but can also revitalise public housing agencies.
Meanwhile, Australian social housing policy turned inward. Governments frittered away their skeletal public housing stocks, narrowly targeted the rest and diverted much-needed capital to reduce operating deficits.
This ultimately bankrupted state housing agencies, which were all but given their marching orders by Morrison in April and earlier by his assistant minister, Michael Sukkar, in February. They ran into strong opposition from community and public housing providers (and the for-profit private sector) – which are eager to play a more active role in social housing supply.
Recently, though, Treasury’s “debt and deficit” doctrine has been making way for a new vision of productive public investment to boost both economic and social development. Investment in social housing should be an integral part of urban plans. It needs to be part and parcel of every infrastructure strategy, Smart City Plan, or City Deal. Bringing housing and infrastructure together under the new NHFIC could help, within an overarching plan with strategic housing targets.
Co-operative leadership and national funding remain essential. Morrison and Sukkar seem to appreciate that a coherent and efficient approach to setting standards and creating funding certainty will induce financial institutions to invest in social housing.
<h2>Wanted: dedication to social housing growth</h2>
Investment not only reduces public housing waiting lists most directly, it ensures fairer allocation of housing opportunities. At the same time it provides a shock-absorber for the economy, especially as it transitions from the resources boom, to build more productive and resilient cities.
Social housing creates jobs for the construction industry and uses local commodities, with many social and economic spin-offs.
Well-designed social housing, such as revitalised public and green community housing mixed with a range of housing types, provides a tangible infrastructure asset and a vital community service. It’s especially important for tenants who are elderly, have disabilities, or were formerly homeless.
Emergency services, health care and homelessness shelters, among others, bear the much higher costs of neglecting these households. This ultimately harms both the budget bottom line and our social fabric.
Morrison has directed the Affordable Housing Implementation Taskforce to report on the bond aggregator in July. The taskforce comprises three senior (former) public servants. They are advised, as usual, by one of the big four accounting firms.
It must be hoped their work contributes towards a broader vision for social housing growth. It should draw on international best practice as well as AHURI’s advice on an Affordable Housing Finance Corporation. Government policy needs to embrace the notion that social housing is not only good investment but essential social infrastructure.
Julie Lawson is a Honorary Associate Professor, RMIT University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/julie-lawson-108364" target="_blank">here</a>.
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Bond aggregator helps build a more virtuous circle of housing investment: Julie Lawson

<html><body>
Dora Creek has the fastest median price growth for houses in New South Wales, according to a recent Investar report.
The property investment firm says that the median house price in Dora Creek has grown by 52 percent in the past year.
This is followed by Green Point with 51 percent and Airds with 46 percent.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="95">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="83">
Current median price
</td>
<td valign="top" width="83">
Median price 1 year ago
</td>
<td valign="top" width="71">
Growth in 1 year
</td>
</tr>
<tr>
<td valign="top" width="95">
Dora Creek
</td>
<td valign="top" width="64">
2264
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="83">
$579,000
</td>
<td valign="top" width="83">
$379,500
</td>
<td valign="top" width="71">
52%
</td>
</tr>
<tr>
<td valign="top" width="95">
Green Point
</td>
<td valign="top" width="64">
2428
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="83">
$750,000
</td>
<td valign="top" width="83">
$494,500
</td>
<td valign="top" width="71">
51%
</td>
</tr>
<tr>
<td valign="top" width="95">
Airds
</td>
<td valign="top" width="64">
2560
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="83">
$563,500
</td>
<td valign="top" width="83">
$385,000
</td>
<td valign="top" width="71">
46%
</td>
</tr>
<tr>
<td valign="top" width="95">
Dural
</td>
<td valign="top" width="64">
2158
</td>
<td valign="top" width="70">
5
</td>
<td valign="top" width="83">
$2,298,000
</td>
<td valign="top" width="83">
$1,600,000
</td>
<td valign="top" width="71">
43%
</td>
</tr>
<tr>
<td valign="top" width="95">
Barrack Heights
</td>
<td valign="top" width="64">
2528
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="83">
$637,500
</td>
<td valign="top" width="83">
$460,000
</td>
<td valign="top" width="71">
38%
</td>
</tr>
<tr>
<td valign="top" width="95">
Culburra Beach
</td>
<td valign="top" width="64">
2540
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="83">
$484,500
</td>
<td valign="top" width="83">
$350,000
</td>
<td valign="top" width="71">
38%
</td>
</tr>
<tr>
<td valign="top" width="95">
Leumeah
</td>
<td valign="top" width="64">
2560
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="83">
$420,000
</td>
<td valign="top" width="83">
$310,000
</td>
<td valign="top" width="71">
35%
</td>
</tr>
<tr>
<td valign="top" width="95">
Warners Bay
</td>
<td valign="top" width="64">
2282
</td>
<td valign="top" width="70">
2
</td>
<td valign="top" width="83">
$499,000
</td>
<td valign="top" width="83">
$377,000
</td>
<td valign="top" width="71">
32%
</td>
</tr>
<tr>
<td valign="top" width="95">
Suffolk Park
</td>
<td valign="top" width="64">
2481
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="83">
$1,187,500
</td>
<td valign="top" width="83">
$899,500
</td>
<td valign="top" width="71">
32%
</td>
</tr>
<tr>
<td valign="top" width="95">
Manyana
</td>
<td valign="top" width="64">
2539
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="83">
$695,000
</td>
<td valign="top" width="83">
$526,500
</td>
<td valign="top" width="71">
32%
</td>
</tr>
</tbody></table>
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-culburra+beach-124872850" target="_blank">5 Plimsoll Place</a>, Culburra Beach (below) was sold in April this year for $487,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-culburra+beach-124954410" target="_blank">2 Mowbray Road</a>, Culburra Beach (above) was sold in March this year for $460,000.
<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/2017/05/11/2%20Mowbray%20Road.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Culburra Beach ranks sixth behind Dora Creek for fastest NSW median house price growth: Investar

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The majority of apartments in Melbourne are failing to meet all the minimum requirements, according to Secret Agent’s latest report.
Secret Agent said compared recently built apartments with the Better Apartments Design Standards and found inner Melbourne's apartments lacking.
"What we found only confirmed our intuitive assumptions of inner Melbourne’s apartments: they’re generally hard to live in,” the report stated.
"Of the 3000 apartments that were surveyed only 9 passed.
“While our full report dove into detail about each standard, this bulletin sums up the results of the overall study to shed light on the bigger picture (see Table 1).
<a href="https://www.propertyobserver.com.au/images/2017/05/03/Screen%20Shot%202017-05-03%20at%2012.11.00%20pm.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/2017/05/03/Screen%20Shot%202017-05-03%20at%2012.11.00%20pm.jpg" alt="">
"We sampled 3000 apartments built in the last 6 years across 21 suburbs in Melbourne.
"Overall, 99.7 percent (2,991 apartments) failed to meet all the minimum requirements.
"Only 9 apartments passed the seven standards we assessed (main bedroom dimensions, smallest bedroom dimensions, living room dimensions, private open space, windows, room depth, storage).
"Out of these, 4 were 1 bedroom units, and 5 had 2 bedrooms,” the report advised.
The group then went to list the errors or faults that they found in the surveyed apartments.
Private open space
94.2 percent (2,826 apartments) had balconies that were too small, or had none at all.
Bedroom and living room dimensions
92.3 percent (2,770 apartments) were too small in terms of both bedrooms and living rooms, failing to meet all minimum dimensions.
Accessibility
84 percent (2,520 apartments) had either bathrooms or corridors that were too small. These failed accessibility standards.
Natural ventilation
70 percent (2,100 apartments) were not well-ventilated. Most of these only had windows on one side of the apartment, with the opposite wall facing the internal corridors.
Windows
52 percent (1,560 apartments) did not provide adequate sunlight to bedrooms. More than half of our sample either had no windows to their bedrooms, or had ‘snorkel’ windows that were deeper than allowed.
Room depth
15.6 percent (468 apartments) were too deep, reducing natural light in parts of the living and dining areas,” the report stated.
For more information, <a href="https://secretagent.com.au/">click here</a>.
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Majority of Melbourne apartments fail to meet minimum requirements: Secret Agent

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While the financial position of households has been fairly resilient, vulnerabilities persist for some highly indebted households, especially those located in the resource-rich states, the recent RBA's Financial Stability Review has noted.
Household indebtedness (as measured by the ratio of debt to disposable income) has increased further, primarily due to rising levels of housing debt, although weak income growth is also contributing.
Rising indebtedness can make households more vulnerable to potential income declines and higher interest rates.
This is of most concern for households that have very high levels of debt.
Low interest rates are helping to offset the cost of servicing larger amounts of debt and hence total mortgage servicing costs remain around their recent lows (Graph 2.5).
<a href="https://www.propertyobserver.com.au/images/2017/04/13/Graph%202.5.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/2017/04/13/Graph%202.5.jpg" alt="">
In this regard, lenders have tightened mortgage serviceability assessments in recent years to include larger interest rate buffers, which should provide some protection against the potential effects of higher interest rates.
Prepayments on mortgages increase the resilience of household balance sheets.
Aggregate mortgage buffers – balances in offset accounts and redraw facilities – are high, at around 17 per cent of outstanding loan balances or around 21⁄2 years of scheduled repayments at current interest rates.
However, these aggregate figures mask significant variation across borrowers, with available data suggesting that around one-third of borrowers have either no accrued buffer or a buffer of less than one month’s repayments.
Those with minimal buffers tend to have newer mortgages, or to be lower-income or lower-wealth households.
Weak economic conditions, and declining housing prices, continue to present challenges to the financial health of households in regions with large exposures to the mining sector.
For example, the rate of personal administrations in Western Australia increased further over the second half of 2016.
While commodity prices have increased, this seems unlikely to translate into significantly improved labour market outcomes in these regions in the near term.
If housing prices continue to decline in these locations, then banks may face additional losses on their mortgage portfolios.
Find the RBA's latest Financial Stability Review 2017 <a href="https://www.rba.gov.au" target="_blank">here</a>.
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Households continue to have high levels of debt: RBA warns

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Government charges are dissuading property owners from selling their homes, driving up demand and impacting affordability, a survey by LJ Hooker has shown.
The survey of 2,700 home owners showed 44 percent of respondents who wanted to sell in 2016 but decided against it, cited transactional imposts such as the stamp duty they would pay on their next property as the reason for staying put.
If stamp duty was lessened, 51 percent of respondents said they would likely go to market, but that figure increased to 61 percent of respondents if the charge was scrapped entirely.
As the Commonwealth and state governments prepare to tackle affordability in their 2017-18 Budgets, pent-up demand has been a significant contributor to price rises in capital cities.
Nationwide, listings were 8.9 percent fewer in 2016 than the previous 12 months according to CoreLogic RP Data.
The reduced level of choice – accompanied by a record low cash rate - resulted in the number of transactions dropping by 9.2 percent over 2016.
LJ Hooker’s Head of Research Mathew Tiller said the survey found 60 percent of survey respondents who requested a market update in 2016 decided against selling.
“A market update is the first critical step in the selling process,” said Mr Tiller.
“The fact that six out of every ten people who had a market update, also known as an appraisal decided against listing suggests there is a deterrent in the selling process,” he said.
“When pressed for the reason why they chose not to sell, almost half (44 percent) indicated the costs involved with selling then buying a new home, including stamp duty, were too high.
As stamp duty is pegged by the state governments to property prices, we’ve seen transactional costs rise exponentially.
In Sydney, the sale of a median priced property costs a buyer around $40,000; in Melbourne, the 5.3 percent duty adds $37,520 for buyers.
While Sydney and Melbourne sellers have enjoyed strong price growth, respondents have reported the accompanying increase in stamp duty, on the purchase of their next home, as a reason to not sell.”
Mr Tiller said the high response rate to “cost of change” such as stamp duty could give governments ‘food for thought’ during their budget preparations.
“A drop off in the number of transactions has a bearing on the amount of stamp duties collected by governments and place strains on their programs.”
LJ Hooker Network Chief Graeme Hyde said while the efforts of governments to increase new supply assisted in improving market affordability, established homes overwhelmingly accounted for the bulk of real estate transactions.
“Home owners are staying in their properties for longer periods of time which is reducing the necessary turnover of stock.
With an increasing and ageing population, it’s important all market demographics have the confidence to buy and sell in the marketplace to aid sustainability,” said Mr Hyde.
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Stamp duty stopping Australians from selling

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Auction volumes are expected to rise this weekend with CoreLogic predicting some 2,196 properties across the combined capital cities listed for the forthcoming weekend.
According to CoreLogic Victoria has the busiest suburbs for auctions, with 17 homes scheduled to go under the hammer in Reservoir, while Kew and Preston are each set to host 16 auctions, followed by Brighton and Craigieburn with 14 auctions each.
<a href="https://www.propertyobserver.com.au/images/2017/05/11/Screen%20Shot%202017-05-11%20at%2010.29.09%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/11/Screen%20Shot%202017-05-11%20at%2010.29.09%20AM.png" alt="">
"Melbourne will be host to the highest volume of auctions this week, with 1,001 homes set to go to auction across the city, up from 792 last week, however Sydney will see the largest increase in volumes week-on-week, with 877 auctions scheduled, up from 592 last week," CoreLogic said.
"It is expected that auction activity will increase across Brisbane, Canberra and Tasmania, while decreasing slightly in Adelaide and Perth.
"Overall activity is set to be higher than what was seen over the same period last year (1,876)."
<a href="https://www.propertyobserver.com.au/images/2017/05/11/Screen%20Shot%202017-05-11%20at%2010.33.16%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/11/Screen%20Shot%202017-05-11%20at%2010.33.16%20AM.png" alt="">
 
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jonathanchancellor-7SQnKwU6yx

Auction volumes to rise this weekend: CoreLogic

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<img src="https://counter.theconversation.edu.au/content/77101/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The measures in the 2017-18 Federal Budget targeting the supply of lower-cost rental housing are limited.
There are no significant funding increases to social housing and homelessness services. There is no increase in rent assistance to help low-income renters in the private rental market.
Capital gains tax and negative gearing settings remain largely untouched, and the proposed bond aggregator will support expansion of housing aimed at very specific groups. 
For the majority of Australia’s renters, housing will remain unaffordable, insecure and out of reach.
<h2>Community housing</h2>
If private investors get on board, the bond aggregator may help boost the supply of affordable and community housing by providing cheaper financing to community housing providers.
These two forms of housing are extremely important. However, they do little to help most renters.
Eligibility requirements for community housing mean many who require low-cost housing, where rent is calculated at between 25 percent and 30 percent of household income, are not able to gain access.
Single older women are among the fastest-growing group of homeless people in Australia. However, most are unable to access community housing because the only eligibility benchmark they meet is their low-income status. 
Women not leaving situations of domestic violence or who do not have a recognised disability will find it difficult to qualify for housing before they reach homelessness.
The private rental market these women face is obscene. There is extremely low housing security with the risk of eviction when the standard lease agreement (of six and 12 months) runs out. High rents place sufficient, nutritious food out of reach of their budget, and they face difficulties paying power bills.
Time spent bringing up children, the gendered pay gap and – for some – relationship breakdown are among the factors that lead to this housing experience.
Long waiting lists for social housing and eligibility restrictions mean this year’s budget proposals are likely to fail this group.
<h2>Affordable housing</h2>
The second target of the bond aggregator is affordable housing. This is housing that is rented at between 75% and 80% of market rent. It is often described as “key worker” housing, where teachers, ambulance drivers and police officers can live.
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. They will face a loss of income, as they drop rents from 80% of market value to around 30% of the retired person’s pension.
</li>
</ul>
<h2>First home buyers</h2>
The budget tips its hat to first home buyers; prospective buyers will now be allowed to save up to A$30,000 at a reduced tax rate. But this is barely one-quarter of a standard 20% deposit for most apartments in Sydney.
Renters who aspire to home ownership and have sufficient income to service a mortgage may benefit from this measure. However, it will do little for the large number of low- and moderate-income households. For this group, spiralling housing costs put home ownership well out of reach.
It is also possible that this measure will add to inflationary pressure on housing prices by boosting demand for entry-level homes. Existing owners who are selling their homes would be the primary beneficiaries.
<h2>What’s missing?</h2>
There remains a need for courageous government action to tackle the structural inequities in the housing market. 
Removing tax incentives that keep investor heat in the market will be essential – and so will increases to social housing budgets.
Investment in a large stock of secure low-cost social housing should be prioritised. Failing this, there will be a need to increase rent assistance payments, particularly in high-cost regions. 
But this is far from ideal. More rent assistance will help renters in the short term, but amounts to a subsidy for private landlords in the long term.
<h2>Does the government care?</h2>
Underpinning much budget analysis is a sense that government should be concerned with the needs of the disadvantaged. Sociologist Keith Jacobs argues we should disavow ourselves of that view, describing housing policy in Australia as a “form of reverse welfarism that exacerbates social inequality”. 
Jacobs argues:
… the state should be understood as an agency that sustains the conditions necessary for the finance industry, developers and real estate agents, along with well-off householders and landlords, to reap profits.
The failure of the 2017 budget to tackle tax measures that support individual private investment, and its emphasis on funding social and affordable housing through market investment mechanisms while providing little direct support at the bottom end of the market, does little to challenge this argument.
Emma Power is senior Research Fellow, Geography and Urban Studies, Western Sydney University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/emma-power-250930" target="_blank">here</a>.
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Is this the budget that forgot renters?

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Crown Group has unveiled Waterfall by Crown Group, a new project in Sydney’s Green Square precinct featuring Australia’s largest man-made waterfall.
Located at 18 O’dea Avenue Waterloo, the project is designed by architects SJB.
It will feature a seven-storey waterfall cascading down one of the development’s four elemental buildings.
“This development is something entirely unique inspired by the power of nature,” commented Crown Group chairman and group CEO, Iwan Sunito. 
“With this design, we are breaking with tradition.
"The green spaces and natural elements create a luxurious, balanced environment for residents to relax and recharge,” he said.
The development offers a collection of studios, one, two and three-bedroom apartments - as well as courtyard apartments and double-storey penthouses.
Mika Utzon Popov, grandson of Sydney Opera House architect Jørn Utzon, is also creating a large-scale artwork on selected exterior walls.
“Landscape has been fundamental to Crown Group’s developments and with Waterfall by Crown Group we want to take that to the next level, bring nature back into the city,” Sunito added.
“Waterfall by Crown Group is a testament to our continual push to create contextually appropriate and innovative residential developments which are relevant to today’s society,” he said.
“Creating the tallest man-made waterfall is just one of the ways we are bringing nature back into the lives of our residents.”
Residents’ amenities include pool, gym, function room, music rooms, a rainforest-inspired bamboo-covered walkway and a private rooftop lounge.
Construction is scheduled to begin this year with a targeted completion in 2020.
For more information, <a href="https://waterfallbycrowngroup.com.au" target="_blank">click here</a>.
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Crown Group reveals Australia's tallest man made waterfall in Waterloo project

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Land valuers from valuation firm Herron Todd White say the second airport for Sydney at Badgerys Creek has been like winning the lottery for those who bought a small block of land.
"It used to just be called poor man's acreage – greyhound trainers and and truck drivers – but really it's been their lottery win," Herron Todd White's Kim Quick was cited as saying by The Australian Financial Review.
According to an estimate by her colleague, Haden Nolan, land prices have easily doubled since the then Abbott government confirmed the location three years ago.
"As soon as that came out the phones started ringing," Nolan said.
"A five acre (two-hectare) holding with a house and shed would have sold for about $1 million in 2014 and I just did a valuation this morning on a place like that and there is nothing under $2 million for that now. Most of those places are now worth $2.5 million.
One smaller land owner about 5 kilometres from where the airport will be, Jason Kennett, is another supporter of the airport but he thinks values are already priced in.
"I don't think you will see any more value unless all the infrastructure comes in," Kennett said. "We do want to realise the value so we would look to develop the land or sell it."
The federal government  recently said it will build Sydney’s second airport after the Sydney Airport Group, which owns the Kingsford Smith airport, pulled out of the project, citing "risks" on monetary return for its investors.
But not everyone is happy with the news of the second airport. Valuers say the expectation of planes flying overhead have made some move further west.
Jackie Kelly, the former Liberal MP, who held the seat of Lindsay for a decade, which covers parts of Badgerys Creek, is irate that the government is paying.
"The government is going to fund this whole thing. I think taxpayers should be screaming their heads off," Kelly was quoted by the AFR as saying.
Another charged question is who will pay for the infrastructure charges and who might get taxed on the increase in value of the land because of the new infrastructure – a concept known as value capture?
The government will unveil the details of the plan in the federal budget.
UDIA national president and member of the federal government's Cities Reference Group Michael Corcoran said the federal government's decision was excellent news because it offered certainty for people to invest. However, he said if the government started taxing property owners and developers it would have negative consequences.
"If the federal and NSW governments think that value capture taxes on new housing can fund a large portion of the cost of the new airport and related infrastructure they are dreaming," Corcoran said.
"Sydney housing is suffering an affordability crisis driven by a lack of supply and taxes that equate to 30 to 40 per cent of the cost of a new home. New home buyers are at breaking point.
"The new airport and related infrastructure will bring benefits to all of Sydney, NSW and Australia and cannot be used as a pot of tax gold, levied only on new home buyers and employers in western Sydney. More levies and charges on this new city will undermine its viability from day one."
Former Labor heavyweight and former secretary of the NSW Labor Council Michael Easson, who is executive chairman of property investor EG Funds Management, was also overwhelmingly supportive of the airport but questioned the opportunity for private investment and said further work needed to be done to make sure growth in real estate and the local economy was achieved.
"I have seen estimates of property values doubling and tripling in the decades ahead," he said, "although it might seem obvious that property values will go up with new infrastructure, nothing is entirely guaranteed".
"The full realisation will take 30 years or more," Easson said. 
"There are many stages ahead, each with the potential to add value to the built environment, the aesthetics of the urban habitat and property values.
He said public-private partnerships were needed, including good opportunities for super funds to invest – and quality architecture, resourceful thinking to make this transformation.
"Obviously this needs to be bi-partisan and it looks like everyone supports the critical infrastructure. But we need the best minds in the country – and beyond – to make Badgerys Creek one of the best places to live in Australia," Easson said.
Mark Perich has lived his entire life over the road from where the federal government has declared it will go it alone and build the new multi-billion dollar Western Sydney Airport at Badgerys Creek.
Perich, who operates dairy company Leppington Pastoral, is one of the big winners from the plan, with about 2000 hectares of farmland in the area that could one day have thousands of houses on it.
"There have been others who have invested in the area over the last five years on the expectation the airport would go ahead and they have benefited from an increase in land values," he said.
"I don't know how much more it's going to go up."
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