Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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The North East region of Melbourne had the highest auction clearance rate on the weekend, according to CoreLogic’s latest report.
The property data firm says that out of the 138 auctions in the North East 88.4% resulted in a successful outcome.
This is followed by North West and Outer East with 82.9% and the Mornington Peninsula with 82.6%.
<a href="https://www.propertyobserver.com.au/images/2017/05/01/Screen%20Shot%202017-05-01%20at%2011.38.26%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/01/Screen%20Shot%202017-05-01%20at%2011.38.26%20am.jpg" alt="">
The Inner region had the lowest auction clearance rate with only 75.1% of its 201 auctions cleared.
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-preston-125058290">88 May Street</a>, Preston (above) was sold in the weekend for $1.33 million.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-greensborough-125160310">48 Killarney Ridge</a>, Greensborough (below) was sold in the weekend for $1.1 million.
<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/2017/05/01/48%20Killarney%20Ridge.jpg" alt="">
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North East Melbourne scores 88% weekend auction clearance rate: CoreLogic

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Wollongong had the highest auction clearance rate in the regions for the weekend, according to CoreLogic’s latest report.
The property data firm says that out of the 38 auctions in Wollongong 79% resulted in a successful outcome.
This was followed by Geelong with 75% and Sunshine Coast with 54.6%.
<a href="https://www.propertyobserver.com.au/images/2017/05/01/Screen%20Shot%202017-05-01%20at%2011.38.34%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/01/Screen%20Shot%202017-05-01%20at%2011.38.34%20am.jpg" alt="">
The Hunter region had the lowest auction clearance rate with only 46.2% of its 26 auctions cleared.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-geelong+west-125152362">27 Collins Street</a>, Geelong West (above) was sold on the weekend for $687,500.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-newtown-125143094">20 Elderslie Terrace</a>, Newtown (below) was sold on the weekend for $640,000.
<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/2017/05/01/20%20Elderslie%20Terrace.jpg" alt="">
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Geelong scores second-highest weekend auction clearance rate for regions: CoreLogic

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<img src="https://counter.theconversation.edu.au/content/73853/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The global focus on US President Donald Trump has largely been on his inflammatory rhetoric and relative inexperience. A less substantive body of commentary has considered his policy platform, including his economic policies.
Among the most prominent of these policies is a commitment to:
… [r]efocus government spending on American infrastructure and away from the Obama-Clinton globalisation agenda.
Trump is not the first to identify increased infrastructure as a strategic economic imperative. Across the globe governments are turning to infrastructure as an instrument of economic policy.
Australia has since 2007 operated an infrastructure agency to prioritise and plan infrastructure provision at the national scale. The UK, New Zealand and Canada have also established national infrastructure planning agencies.
In Australia, this “infrastructure turn” has eclipsed metropolitan planning as a means of intervening in cities.
Among global political and economic institutions, infrastructure has risen to prominence as a priority for national intervention and trans-national co-operation. Many agencies have called for increased spending on infrastructure.
The World Economic Forum, for example, has lamented that while estimated global demand for infrastructure exceeds US$3.7 trillion in investment value, only US$2.7 trillion is being provided. This leaves a US$1 trillion “infrastructure gap”.
The APEC Forum in 2013 established a multi-year plan on infrastructure development and investment. The G20 has established the Global Infrastructure Hub and the Global Infrastructure Connectivity Alliance to help with infrastructure investment. The World Bank helped set up the Global Infrastructure Facility in 2015.
What is driving this shift?
The reasons for the new focus on infrastructure are debatable. Four explanations offer possible insight.
First, at a simple material level, the focus on infrastructure reflects rapid urbanisation at the global scale. Millions more urban residents need water, energy, transport and telecommunications. But urbanisation does not in itself demand infrastructure.
A more systemic explanation is the use of infrastructure as a “spatial fix” for the contradictions of urban capitalism. At its most basic level, the agglomeration of economic activity in cities creates resource and congestion problems, which impede economic growth.
Capitalist economies seek to “fix” these problems with infrastructure investment that overcomes spatial frictions on flows of people, water, waste, energy and information. Under conditions of increasing urban complexity, infrastructure megaprojects appear more comprehensible and immediate “solutions” to urban problems than previous fixes using metropolitan spatial planning.
A further explanation is that infrastructure is being used as a sink for excess low-cost capital within the global economy. Such capital is otherwise unable to find sufficient destinations for productive investment.
Under such conditions, capital “switches” from productive investment into investment in the built environment. Infrastructure is the major component of this.
Finally, sustained weakness in the global economy has reduced the attractiveness of productive investment as a source of profit in favour of rents. We can thus observe the systematic emergence of “infrastructure rents” in the global economy – rentiers capture monopolies on particular infrastructure types.
Of these four explanations, the first is the most commonly presented. Yet it has perhaps the weakest explanatory power.
Critiquing the global infrastructure push
For critical urban social scientists, the global infrastructure turn poses a number of conceptual and methodological issues.
The first question is to test whether it’s specifically different from other forms of urban investment.
Cities have long been sites of physical building, including major developments and facilities. Yet the practices of global infrastructure involve mobilising capital, governments, information and production at a massive new scale via major international institutions and may be viewed as a distinctive urban phenomenon.
A second question is to understand how infrastructure has become a discourse in global policy. Global agencies almost universally view infrastructure as a beneficial phenomenon to be promoted. How this began and has been promulgated deserves greater investigation.
A third question is how infrastructure has become a field of specialist knowledge in its own right. And what implications does this have for understanding the role of infrastructure?
Infrastructure projects have developed their own language of financial appraisal, technical design and social and environmental impact. This then hampers democratic scrutiny of these projects.
The democratic problem
Finally, the politics of infrastructure demand attention. Infrastructure is often a site of political contestation, yet many infrastructure decision-making processes attenuate or repress democratic participation. The role of the state is often placed in tension, especially when private motivations drive infrastructure development.
There is a lack of transparency of interests – in terms of who benefits, both legally and surreptitiously, and who is affected or disadvantaged by infrastructure development. This is a clear problem that deserves greater investigation.
Large infrastructure projects have long fascinated politicians, governments and publics. Trump demonstrates the persistence of this fascination. Many view the need for infrastructure as an inevitable consequence of an increasingly urban world.
Yet the global turn towards infrastructure needs to be critically appraised beyond the utopian engineering rhetoric. We need to understand its causes and motivations, especially within the structural crisis of global capitalism and the efforts to resolve it.
We must also be attentive to the problematic aspects of the global infrastructure turn. The deployment of trillions of dollars in infrastructure investment necessarily demands clear democratic transparency and accountability. This applies not only to the money spent but to the effects on cities, societies, polities and the environment.
<h2 class="caption"> </h2>
Jago Dodson is professor of Urban Policy and Director, Centre for Urban Research, RMIT University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/jago-dodson-2359" target="_blank">here</a>.
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Making sense of the global infrastructure turn: Jago Dodson

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GUEST OBSERVER
This will be the traditional Board meeting being held one week before the Commonwealth Budget on May 9.
The Board is certain to hold rates steady.
In fact Westpac has argued consistently since May last year that, after an expected cut in August 2016, rates would be held steady for the remainder of 2016 and 2017.
Earlier this year we extended that view with the expectation that the Bank would also hold rates steady through 2018. 
In the minutes to the April Board meeting the Bank surprised somewhat by emphasising the importance of the major competing forces on rates: “The Board judged that developments in the labour and housing markets warranted careful monitoring over coming months.”
Since that statement key news items have been around the employment report and the inflation report.
The employment report for March printed much stronger than expected – 60,900 jobs added including a 74,500 rise in full time jobs. However the unemployment rate remained at 5.9 percent – well above the 5.0 percent level accepted as 'full employment'.
That theme of excess capacity was prominent in the March inflation report. The report was highlighted by falling prices for clothing &amp; footwear; household contents &amp; services; cars; audio visual &amp; computing; and international travel. Underlying inflation rose just 0.4 percent for an annual pace of 1.8 percent.
Overall, while the employment report may have been somewhat welcome to the spectre of spare capacity in the economy weighing on inflation; labour markets and wages would still be a concern for the authorities.
The situation around housing markets is more unclear with uncertainty around the impact of new macro prudential policies – a 30 percent cap on the proportion of new loans that are 'interest only' (currently 62 percent of investor loans and 23 percent of owner occupier loans are interest only).
The last time macro prudential policies were adopted, in 2015, they were very successful in slowing house price growth. These earlier measures included slowing annual growth in investor housing credit to a 10 percent target and were complemented by an effective increase in the mortgage rate of 27bps. Sydney dwelling price inflation slowed from 20 percent to 0 percent (on a 6mth annualised basis) while Melbourne prices slowed from 14 percent to 5 percent. This impact was curtailed by the May and August rate cuts in 2016.
Arguably the Board might regret those cuts given the resurgence in house price growth through the second half of 2016 and 2017.
Our call for steady rates assumes the persistence of the excess capacity in goods; services; and labour markets as exemplified in recent data releases without any threatening collapse in house prices – rather a gradual slow down through the remainder of 2017 and 2018. A sharp retraction along the lines of 2016 is still highly unlikely to draw further rate cuts from the Bank given the experience of 2016/17.
Our major interest will be in the growth and inflation forecasts along with some more colour to the risks.
Key growth forecasts in the February SoMP were: GDP growth in calendar 2017: 2.5 percent -3.5 percent; GDP growth in calendar 2018: 2.75 percent- 3.75 percent.
We believe the Bank will see growth prospects as unchanged since February although there may be a 'one off' adjustment for the impact of cyclone Debbie in the June quarter (some official estimates of a 0.25 percent 'hit' have been mentioned).
Of more importance will be the 3.25 percent (mid- point) forecast for 2018. Westpac is surprised at the Bank's persistent optimism. We expect the housing construction cycle to have clearly 'rolled over' by then with the terms of trade also in retreat. We expect growth in 2018 of around 2.5 percent.
Other factors that are also likely to weigh on growth in 2018 are the impact on business and household balance sheets of high energy prices, and intensifying political uncertainty. A lower AUD will contribute a welcome offset (USD 0.65 'target' in 2018).
The IMF recently released upward revised growth forecasts for Australia – 3 percent in 2017 and 3 percent in 2018 (year average measures). The 2017 forecast is higher than the RBA’s year average forecast of 2.5 percent but we expect the Bank to hold its forecasts steady. 
We do, however, expect that the Government will adopt a higher growth forecast in the May 9 Budget, raising the 2017-18 financial year number from 2.75 percent to 3 percent, in line with the IMF.
Inflation forecasts are also expected to be unchanged: current underlying inflation is running at 1.8 percent annual. RBA forecasts are 1.5-2.5 percent in both 2017 and 2018. These forecasts are 0.5 percent below the target 2-3 percent but not sufficiently awry to demand a policy change, particularly since the forecast to June 2019 indicates a return to the 2-3 percent target band.
Underlying assumptions around the AUD are also unlikely to warrant any forecast changes with the February forecasts using USD 0.76 compared to the likely USD 0.75 in the May forecasts. 
In the February SoMP the discussion on 'housing risks' centred on the downside: "history shows that sentiment can turn quickly.” Of course prices have continued to boom in the interim – we expect ongoing nervousness in the May SoMP emphasising the risks associated with a further intensification of macro prudential controls.
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>. 
 
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Expect ongoing emphasis on housing risks: Westpac's BIll Evans

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Frasers Property says it is a move that will be welcome relief to many first home buyers.
But halving the traditional 10 percent deposit required to secure a new home appears instead a rather risky, ill-timed offer for FHBs.
FHBs can buy into the red-hot Sydney market for just a 5 percent deposit - and be in hefty debt residence by September!
The offer is for two of its projects, Centrale in North Ryde (pictured above) and Tailor’s Walk in Botany at just 5 percent deposit. 
"We expect it will prove very popular,” Nigel Edgar, general manager – residential NSW, Frasers Property Australia says. 
The offer will run to June 30. 
To ensure it benefits local first home buyers, the reduced deposit is not open to foreign investors and applies to properties worth up to $900,000. 
No gimmick it appears, as Nigel Edgar avows the initiative was "a responsible way of helping eligible first home buyers to get a foot in the market." 
We all know saving for a traditional deposit is a tough process.
And many say a 10 percent deposit really isn't enough these days – and aiming for 20 percent is wise.
Especially this year as banks are more risk averse and less inclined to accept a borrower without a genuine savings track record.
But Edgar says he understands how hard it can be for young people to save the standard 10 percent deposit for their first home while paying rent and living costs.
Edgar says of course it’s imperative that people stay within their financial boundaries, "which is why a pre-approved loan from a reputable financial institution is one of the key terms and conditions of this initiative."
But will responsible banks really want to lend on 5 percent? And why now in the property cycle? 
Edgar says first home buyers have a wide variety of apartments to choose from at Centrale and Tailor’s Walk, with flexibility surrounding move-in dates.
"Some eligible first home buyers will have the option of moving into their brand new Tailor’s Walk home as early as September this year, or can secure an apartment to move into late 2018. 
“We have made the initiative available at Centrale and Tailor’s Walk because they have the widest variety of apartments priced to qualify for the $10,000 NSW First Home Owner Grant.
"It gives first home buyers the opportunity to stop paying rent and move into a new home soon or, alternatively, the choice to wait a bit longer and focus on saving,” Mr Edgar says. 
Centrale is a new community integrated with the North Ryde train station. Located one train stop from Chatswood and 13km from Sydney CBD, Centrale will comprise four residential buildings with 380 apartments in a mix of one, two and three bedroom configurations when complete. One-bedroom apartments are priced from $595,000 to $745,000, while two-bedroom, two-bathroom apartments with a car space range from $870,000 to $970,000. 
At Tailor’s Walk in Botany, one-bedroom apartments range from $600,000 to $745,000 while two-bedroom designs are priced from $775,000 to $990,000 – making the community a particularly appealing option for first home buyers. 
Spanning 3.1 hectares, Tailor’s Walk is a unique community creatively weaved into the increasingly popular Botany area. It will have five apartment buildings ranging from six to eight storeys, offering a diverse range of one, two and three-bedroom single level and loft style apartments.
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Frasers Property brazen move to get FHBs on 5 percent deposits

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Real estate firm Knight Frank has set up a Prestige Residential division in Australia after its recently released Wealth Report found that the country is one of the most important markets for the richest across the globe.
In addition, it has internally appointed Sarah Harding as the new head of Residential, Australia in a newly-formed role for the firm based in the Sydney office. 
She is currently Knight Frank’s Head of Residential for APAC and will move back to Sydney for the role. Harding has worked within the residential property business for close to 20 years. Over half of this time was spent working in London, handling all aspects of residential prime and new-build markets. 
<img src="https://www.urban.com.au/images/2017/05/01/SarahHarding.JPG" alt="">
Sarah will also oversee the prestige division, said Knight Frank Australia CEO Stephen Ellis.
“While Sarah will oversee the national business, her day-to-day focus will be building Residential Project Marketing – particularly at the prestige end – and from a top level overseeing our new Prestige Residential division, for which we recently brought Deborah Cullen on board to lead as Head of Prestige Residential, Australia,” he said.
Cullen has been brought in from Colliers International’s Lifestyle Estates team to head Prestige Residential Sales, Australia. She also brings from her previous team Richard Sholl, who joins Knight Frank as Sales Executive, Australia for the Prestige Residential Sales division.
Cullen has been in the prestige and luxury lifestyle market in Australia for 15 years. 
Her team will focus primarily on prestige Australian residential sales of more than $3 million. 
<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/DeborahCullen.jpg" alt="">
Knight Frank’s global head of Residential, Lord Andrew Hay, said, “Deborah joins Knight Frank’s global network of prime agents positioned in key markets around the world. These agents are positioned to act as a global team, passing investors and product around the network to give our clients access to the very best in the market.”
Lord Hay said that Australia is an increasingly important market globally for the world’s richest. “Our latest annual edition of The Wealth Report has found that Sydney and Melbourne are in the top 10 list of most important cities globally for the wealthiest to invest. 
“While the value of the world’s leading prime residential markets recorded slower growth in 2016, at 1.4% in comparison with 1.8% in 2015, the top-tier of price growth is being driven by Australia, China, New Zealand and Canada.
He said Australia’s politically stable environment and quality of life, are expected be the drivers of strong growth over the next decade in the populations of super-rich.
In Sydney, Knight Frank’s Asian Markets team recently closed three high-end residential transactions to the value of over $35 million. In Hobart, resent sales include “Sentosa” at 650 Sandy Bay Road, Sandy Bay for $6.5 million; 11 Ellington Road, Sandy Bay for $3 million; 15 Grange Avenue, Taroona for $2 million; and 21 Grange Avenue, Taroona for $1.925 million.
Knight Frank’s chief executive officer, Australia, Stephen Ellis said the establishment of a Prestige Residential Sales division in Australia is a strategic move for the business – and that there has never been a better time.
The team has strong connections in Asia Pacific, the UK, Africa, and throughout Europe and the Middle East, Knight Frank is partnered with Douglas Elliman Fine Homes in the US.
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Knight Frank set up Australian prestige residential department to cater to super rich

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Sydney's auction market recorded boom-time results over the weekend according to Domain's Dr Andrew Wilson.
He said Sydney recorded a strong clearance rate of 80.3 percent over the last weekend in April, significantly higher than the 73.7 percent recorded over the same weekend last year.
"Sydney has now recorded clearance rates above 80 percent on nine of the 13 weekends since February, with Easter and school holidays attributed to outlier lower weekends. 
"The booming northern beaches recorded the highest regional clearance rate at the weekend with another remarkable 93.3 percent result.
"Next highest was Canterbury Bankstown at 87.8 percent followed by the south with 87.1 percent, the north-west with 82.6 percent, the inner-west and the lower north each with 79.5 percent.
"The city and east regions both recorded 78.4 percent followed by the south-west with 76.2 percent, the upper north shore and the west each with 75 percent and the central coast with a clearance rate of 50 percent.
"Melbourne’s hot property market recorded a strong result for sellers at the weekend, refocusing after the lengthy holiday breaks of the past month.
"Saturday’s clearance rate of 81.7 percent was the second-highest recorded for the year so far, higher than the previous weekend’s 79.5 percent and well ahead of the 75 percent recorded over the same weekend last year.
"In February Melbourne recorded a whopping clearance rate of 82.7 percent, which is yet to be topped. Since then auction clearance rates have averaged 79.9 per cent, providing sellers with plenty of confidence."
 
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Weekend auction results back to full swing in Sydney, Melbourne: Andrew Wilson

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Sydney’s fringe suburb of Chippendale is experiencing a property boom of sorts, given the significant stock withdrawal from office to luxury residential.
But there is also the competing trend of office tenants wanting to stay close to the city.
The city fringe market is tightly held given its proximity to the CBD, the light rail and amenities. 
The recent conversion of Griffith Teas is a case in point where new residential gross realisation benchmarks have been realised that are usually reserved for Sydney Harbour waterfront property, according to Savills.
Tenants are expected to be faced with an ongoing squeeze on available office space as demand remains strong and new supply muted.
Savills have a refurbished, leased office property at 39-47 Regent Street, Chippendale to be sold by expressions of interest closing May 25. 
It is fully leased by Navitas Limited, an ASX 100 listed company. The lease is for 15 years with a further option to extend by 10 years. 
The annual net rental is circa $1.823 million. 
The zoning is B4 Mixed Use, which the agents say allows a purchaser the option for residential conversion beyond the existing lease tenure.
These strong fundamentals are expected to drive rents significantly higher over coming years, say the agents. 
The property is being marketed by Savills agents Simon Fenn, Graeme Russell and Tim Grossman along with CBRE on behalf of Property Bank Australia.
Simon Fenn of Savills NSW said strong interest is expected from local, interstate and off shore buyers given the compelling fundamentals of the city fringe market and the unique nature of the asset.
“There appears to be no significant supply in the pipeline for the City Fringe, with just 5,500 sqm currently under construction in Chippendale (expected in H2 2018). Future supply in the City Fringe remains severely constrained due to limited available sites and significant stock withdrawals for residential use,” he said.
With the building flanked on all sides by action from Sydney University, Broadway Shopping Centre, UTS and Central Station combined with significant planning changes in the wings, the precinct is set for exciting growth and change.  
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Navitas office property in Sydney's Chippendale listed

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<img src="https://counter.theconversation.edu.au/content/76505/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
There’s been quite a bit of speculation over whether Australia has a property market bubble - where house prices are over-inflated compared to a benchmark - and when it might burst.
According to housing experts, there’s at least four scenarios where this could happen.
Australia could see a property bubble burst due to:
<ul class="ul1">
<li class="li2">Lending tightening, interest rate hikes and mortgage stress</li>
<li class="li2">Underemployment and unemployment creating a slow deflation</li>
<li class="li2">Government intervention failure and market repair</li>
<li class="li2">Global crisis</li>
</ul>
These four scenarios focus on different tension points in Australia’s and the global economy. One scenario focuses on the balance of actions between regulators like APRA and the Reserve Bank, combined with household mortgage stress. Another envisions the affect that unemployment might have in certain areas.
Some of the factors we may see play out, such as the federal and state government trying to intervene to “fix” problems in the market, as happens in one scenario. But other factors may be out of the government’s control, for example, where a global crisis pushes up risk premiums.
All of these scenarios highlight just how complicated and interrelated the steps that lead to a property bubble burst could be.
Lending tightening, interest rate hikes and mortgage stress
Associate Professor Harry Scheule, UTS Business School
<a href="https://www.propertyobserver.com.au/images/2017/05/01/file-20170424-25594-sr2cd9.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170424-25594-sr2cd9.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Following concerns of the housing bubble, bank regulator APRA increases bank lending standards, it also increases the risk weight on Australian mortgages resulting in lower loan supply and higher loan costs. Banks are encouraged to reduce interest-only loans, hold a greater amount of costly capital (making home loans more expensive) and reduce the loan amounts offered to applicants due to higher future interest scenarios.
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170421-12655-nn7let.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Following increases in interest rates in the US and Europe, as those markets recover, the Australian dollar begins to decline – forcing the Reserve Bank of Australia (RBA) to increase interest rates.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170421-12640-1lrrxft.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/" target="_blank">CC BY-ND</a>
Higher interest rates lead to higher monthly repayments, as most of Australia’s home loans are adjustable. Interest only loans are the most exposed. Higher interest rates also lead to more mortgage delinquencies.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170428-15097-i6a8cl.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/" target="_blank">CC BY-ND</a>
The banks tighten bank lending standards in response to the increase in delinquencies. This further constrains interest-only borrowers seeking to refinance after the end of the interest-only terms. This means more mortgage stress, as many had expected to roll over the interest-only period indefinitely, but now they are forced to make principal repayments next to interest payments.
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170421-12627-djg6hq.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
The cycle between delinquencies and tightening bank lending standards continues and as a result there’s a noticeable drop in loan supply and a fall in house prices. 
Underemployment and unemployment create a slow deflation
Danika Wright, Lecturer in Finance, University of Sydney
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170424-12658-14s147l.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Unemployment and underemployment - workers who want to work more but can’t - increase. As the apartment development boom dies down, and without a mining boom to replace it, construction industry workers are at high risk.
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170421-12629-1g17gp1.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Households with a lot of mortgage debt are forced to limit their spending, particularly on discretionary items. This in turn affects companies that employ retail workers, reducing hours and employment.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170421-12645-1thbkt5.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Employment opportunities are a major component of house price amenity, in part because demand for housing is pushed higher by inbound work-related migration. So, as there are less jobs nearby, the amenity value of some areas decreases.
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170428-15121-1a3mn50.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
The amount of people at risk of defaulting on their mortgage increases in areas where there is a loss of employment or reduced income. In 2008, arguably the last time Sydney house prices went through a correction, the incidence of mortgage defaults and property price declines was geographically localised.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170428-15086-1qrzafm.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Borrowers who have the least amount of equity in their homes (typically the least wealthy, younger and newer entrants to housing market) are the hardest hit by falling property values. They are more likely to end up “underwater” – that is, owing more than the property is now worth – and face the prospect of a distressed sale. This in turn contributes to the downward spiral in house prices.
Australia has tighter lending criteria than regulators enforced before the global financial crisis in the United States. But concerns by regulators, including APRA, over current lending practices and potentially fraudulent activities raise questions over the real quality of mortgages and the ability of borrowers to repay them.
Government intervention failure and market repair
Professors of Economics, Jason Potts and Sinclair Davidson, RMIT
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170424-22270-1wxliec.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
A combination of low interest rates and low growth in new housing stock drive up Australian housing prices, a situation compounded by poor policy choices by state and federal governments and high demand from foreign residential property investors.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170421-12658-1w2f933.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
As a result housing is misallocated in the Australian market, across demographic and especially age groups. This produces demographic pressures, as millennials delay leaving home, delay starting families. This leads to political pressure on governments – increases the urge to intervene.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170421-12669-19vk1qg.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
The federal government intervenes, blaming the secondary drivers (particularly the non-voting group: foreign investors). They increase restrictions on foreign investment in residential housing stock.
The federal government also lobbies APRA to increase rules on financial products, while promoting a scheme to subsidise and promote first home ownership.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170424-23807-i1c8wi.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Because none of these previous measures from the federal government affect the primary drivers of the misallocation of housing, domestic interest rates don’t change, and state governments do not act to release new stock. As a result housing prices continue to grow.
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170424-27254-4qwo2z.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Increasingly alarmed that house prices continue to rise, the federal government starts to panic, threatening ever further regulation and starts to blame the financial system. This triggers the RBA to finally act, raising interest rates.
As interest rates rise, this causes mortgage stress, resulting in default among investors with high amounts of debt, pushing these properties onto the market. These distressed sales finally cause prices to fall.
Global crisis
Timo Henckel, Research Associate, Centre for Applied Macroeconomic Analysis, ANU
 <img src="https://www.urban.com.au/images/2017/05/01/file-20170424-12629-1juog2j.png" alt="">
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
International crisis (whether it be political, military, economic) leads to an increase in global risk premiums.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170424-12645-qj07.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
Borrowing costs for Australian banks rise because of this and supply of global capital falls, pushing up mortgage rates in Australia.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170424-12658-z8xdgo.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
The most vulnerable mortgagees can no longer afford their mortgages and are forced to sell their homes.
<img src="https://www.urban.com.au/images/2017/05/01/file-20170424-12658-1fhdu2b.png" alt=""> 
The Conversation, <a href="https://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
House prices fall which, coupled with rising interest rates, adds further distress to households’ balance sheets, leading to more selling of houses and so on.
Jenni Henderson is editor, Business and Economy, The Conversation and can be contacted <a href="https://theconversation.com/au/team#jenni-henderson" target="_blank">here</a>.
Wes Mountain is<a href="https://theconversation.com/au/team#wes-mountain"> </a>deputy multimedia editor, The Conversation and can be contacted <a href="https://theconversation.com/au/team#jenni-henderson" target="_blank">here.</a>
 
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Four ways an Australian housing bubble could burst

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Harvey Norman CEO Katie Page is set to kick off marketing her exciting new M3565 apartment project on the Gold Coast.
Recently completed, the seven apartment tower at 3565 Main Beach Parade was built and designed to achieve a 5 Star Green Star rating.
It's the first whole floor high-rise complex to be completed on the sandy stretch for almost three decades.
Prices start at $6.2 million through Ray White Prestige agent Robert Graham.
The two level penthouse is being tipped to set a record price for the popular strip set where $9.2 million was paid by Melbourne businessman Peter Devitt in 2011 for the penthouse in Main Beach’s Liberty Panorama tower.
Page paid $15.5 million in 2007 for the 882 sqm building block then battled council to secure her construction approvals. 
The typical full floor apartment comprises three bedrooms, four bathrooms and study in the 400 sqm space.
Pages 's intense focus was on meshing high end luxury with strong environmental credentials.
“We have been planning this building for a very long time," she said.
"It is the most beautiful, amazing block of land – it is the dream.
"To be able to wake up in the morning and be on the beach in an area that is so different to the rest of the Gold Coast is really quite an extraordinary experience.”
M3565 was designed by Sydney architect Virginia Kerridge, who says the extensive use of contemporary finishes such as tinted concrete, timber shutters and zinc ensured the building was deliberately different to anything previously seen on the Gold Coast.
The result according to Ms Page is a building that “fits in rather than stands out”.
“Virginia loves environmental architecture, which is the kind of design that understands finishes and how they should respond to their environment not just when they are completed but in twenty years time.”
Page reckons great buildings "improve with age.”
Main Beach is considered one of the plump locations on the Gold Coast, being a quieter and considerably more exclusive beachfront enclave with high end shopping and restaurants that has been a favourite getaway destination for well-heeled Sydneysiders and Melbournians for decades.
This article first appeared in the Sunday Telegraph. 
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