As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

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The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

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The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

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What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Joel Robinson

Elevated amenity anchors daily life at Aeris, Melrose Park

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."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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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]

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.

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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

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.

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<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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Mosaic Property Group is taking luxury living to a new level at Kings Beach with Solis, a $23 million project on the Sunshine Coast.
Solis comprises 33 one, two and three-bedroom apartments over eight levels, crowned by three sub penthouses and two exclusive penthouse apartments. 
All apartments have been designed to take full advantage of the Kings Beach location with spacious interiors and large private balconies.
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Solis comes on the heels of Mosaic Group’s latest success, the $20 million Cyan at Kings Beach which has sold out.
Mosaic Property Group’s Managing Director Brook Monahan said Solis is the product of extensive market research designed to create modern living spaces that specifically target the needs of local buyers.
“The Sunshine Coast is a great place to live, work, invest and play, so we’re very excited to be bringing Solis to the market,” he said.
They have also decided to embrace a pet-friendly environment for residents.
Solis features six open-plan three-bedroom, two-bathroom apartments.
These will be crowned by three luxurious three-bedroom, two-bathroom sub-penthouses and two prestigious three-bedroom, two-plus-bathroom, three car park penthouses.
Apartment prices start from $405,000 for the one-bedroom, while two-bedrooms are priced from $520,000 and three-bedrooms from $790,000. Apartments range in size from 100sqm to 265sqm. 
Penthouse inclusions are a cut above standard apartments featuring ducted air conditioning, a fully integrated fridge/freezer, 900mm cooktop, multifunction zip tap, free standing solid surface bath and additional designer accessories throughout. 
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The beachside location at 31 Mailman Street is just metres from magnificent Kings Beach and close to the shops, restaurants and cafes of Caloundra’s CBD
A private resort-style pool with tropical surrounds creates a luxurious secluded getaway for residents and their guests.
John Robertson, Principal Architect at OGE Group Architects, said the allowance of pets has led to the inclusion of a facility where people walking back from the beach can wash their pet off.
“It might sound like a little thing but it’s something that some developers might shy away from.”
Construction of Solis is set to commence in May 2017, with completion anticipated a year later.
Solis is the second of five projects totalling $175 million planned by Mosaic Group for the Sunshine Coast.
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Mosaic’s development pipeline will create 635 direct and indirect full-time equivalent positions, with 380 of those positions on the Sunshine Coast.
Mosaic will inject $33 million in wages for local workers, accompanied by a $94 million economic benefit to the Sunshine Coast region.
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For more information on Solis, visit <a href="https://www.propertyobserver.com.au/mosaicproperty.com.au" target="_blank">mosaicproperty.com.au</a>.
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j.ballantyne1990-6AQqhLzZaK

Solis hits the shore at Kings Beach

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AFG has reported promising signs in the first home buyer (FHB) market as the 17 year old scheme, introduced to offset the effect of the GST on home ownership, receives a shake up.
The national First Home Owner Grant (FHOG) scheme funded by the states and territories has largely been hailed a success as it seeks to ease the hefty upfront costs for new entrants to the market. 
The effectiveness of the scheme however has been questioned of late and it appears this may have encouraged governments to act. 
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“The Victorian state government has recently announced a number of changes to the scheme in that state and New South Wales is currently examining their options to help counter rising house prices in those states,” said AFG interim CEO David Bailey.
AFG data shows positive signs amongst the FHB market with lodgments lifting back up to 10% for the first time since the first quarter of 2014.
“First home buyer numbers have been in the single digits for some time. 
It is good to see state governments looking to support those trying to get a foot on the property ladder. 
Time will tell if the proposed changes to the scheme go far enough to assist those looking to buy their first home in our two most populous states.”
APRA-imposed lender policy changes have had an impact on both the investor market and refinancers as many lenders lift interest rates for borrowers.
“Lenders have been told by the regulator to rein in their exposure to the investor market and APRA continues to monitor growth in lending to investors,” said Mr Bailey. 
“As a result many lenders have embarked upon a series of rate increases and a tightening of credit policy for investors to comply with APRA’s guidelines.
“This activity has seen investor loans drop from 34% to 32% across the quarter.”
Those looking to refinance have also been impacted, with that segment of the market dropping from 38% to 35% last quarter – its lowest level since the third quarter of 2015.
In overall lodgment numbers, AFG has reported a lift of 8% on Quarter 3 last year driven primarily by increasing activity of upgraders.
“With a significant amount of changes being made to the appetites and pricing of lenders, help from a mortgage broker can be vital for consumers trying to navigate the dynamic market that is home lending,” said Mr Bailey.
“A result that should please the regulators is a drop in the loan to value ratio (LVR) in all states apart from South Australia where a marginal increase of 0.4% was evident. 
The national LVR is now down to 68.6%, the lowest level since the first quarter of 2013,” he concluded.
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AFG sees promising signs for first home buyers

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Melbourne’s Zagame Corporation is looking to cash in the chips on its Vanuatu-based Grand Hotel &amp; Casino at Port Vila.
Situated 10km from the airport at the heart of Port Vila’s business and entertainment precinct, the eight-level waterfront hotel offers a variety of income streams from its casino, accommodation and food &amp; beverage facilities.
Rob Cross and Andrew Jackson of CBRE Hotels have been appointed to steer the sales campaign, which closes 30 May 2017.
Cross explained that long time owners Zagame Corporation were selling the hotel and casino complex to focus on their extensive pub and accommodation interests in Australia.
“We’re expecting considerable interest, predominantly from Australian and New Zealand investors,” Cross said.
“The campaign provides an opportunity to acquire the best hotel and casino in Vanuatu, which is currently owner operated but is being offered with vacant possession. 
“While the hotel and casino has enjoyed trading growth in recent years, the introduction of a professional management company with a strong brand reputation could lead to further trading upside.”
Constructed in 2003, the four-star hotel overlooks Port Vila Harbour and offers views towards Iririki Island. The casino features 15 gaming tables and 136 slot machine, with a VIP top floor gaming room.
The hotel also contains a restaurant, conference rooms, four bars and pool and spa facilities.
Jackson added that investors were increasingly targeting leisure-oriented investment opportunities, given the tightly held nature of Australia’s CBD hotel markets.
“In the case of the Grand Hotel &amp; Casino, the property is poised to benefit from the Vanuatu Tourism and Infrastructure Project, which is funded by the New Zealand Aid Program,” Jackson noted.
“The project will concentrate on the rehabilitation of Port Vila’s seafront and the main wharf areas, providing a central pier observation platform, sea steps, a water taxi jetty, seawall promenade and walkways, markets buildings and playgrounds.” 
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Zagame Corporation lists Vanuatu hotel and casino complex

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High taxes are taking a toll on new house and land packages built in Sydney’s South West, with taxes comprising about 30% of the cost to produce them, according to research by developer The Monarch Investments Group (Monarch). 
Taxes for an average sized house and land package include GST of $65,909, stamp duty of $26,813 and council and state contributions $30,500, Monarch said in a media release.
Monarch chief executive Peter Icklow said the government should look at various measures to improve housing affordability for the younger generation. 
These include reducing the GST on new houses, perhaps placing that shortfall of revenue on all houses and lowering stamp duty as well as reducing infrastructure levies, he said. 
"Ten years ago in Macquarie Links Estate a house and land package on a 800 square metres lot was $700,000, today it is over $1.1 million for the same size home,” Icklow said.
"The tax percentages have remained the same however, with the increase in land and house prices the amount the government is pocketing is vastly different.
"They are billions of dollars richer from the capital growth in property and land.
"Since 1955, we have developed over 6,000 land lots in our masterplanned communities, with over 50 per cent located in South Western Sydney. The biggest change we have witnessed is the shrinking land lots."
Ten years ago the average sized lot in Macquarie Links was 800 square metres, whereas now Monarch is building triplexes on 180 square metres at The Meadows. 
“Land is simply too expensive. We are building smaller lots to meet purchaser demand,” he added.
“The first home buyer market is alive and well in the South West. In recent years, we have witnessed first home buyer city dwellers renting apartments now moving into the suburbs. They are after space to raise children and good infrastructure and facilities. The South West is providing this with billions of dollars being spent in the region from both the private and public sector,” Icklow continued.
He said first home buyers have bought more than 90% in The Meadows in Bardia while at the finished Ingleburn Gardens Estate, their proportion was 80%. 
“We are finding that downsizers from inner city locations that have built up good equity are also now starting to move out. Many people are selling homes worth around one to two million, purchasing a new home in the South West for around $700,000 and then using the excess for holidays or hobbies.”
The Meadows will have 210 houses and more than 30% is already sold. It is located directly beside Monarch’s Ingleburn Gardens Estate and across the road from the company’s first flagship development in the area, Macquarie Links Estate.
The development will have a swimming pool, playground and recreational facilities. 
Prices start from $669,950 to $789,950 (average $709,950) for a three bed duplex and range in lot size from 230 square metres to 300 square metres. 
 
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prateek24-ezbwHMbNAk

Taxes take 30% of south-west Sydney land and house packages: Monarch

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Residential vacancy rates have fallen across the Sydney market led by solid falls in availability in Middle Sydney, according to the Real Estate Institute of New South Wales (REINSW).
REINSW President John Cunningham said the March 2017 REINSW Vacancy Rate Survey saw the Sydney metropolitan market down 0.2% at 1.7%.
"Middle Sydney led the fall in rental accommodation on offer with a 0.4% decline at 1.4%," Cunningham said.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%2012.38.36%20pm.jpg" target="_blank">Click to enlarge</a>
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"Outer Sydney fell 0.1% at 2.1% and Inner Sydney was down 0.1% at 1.6%."
The Hunter also saw a drop of 0.1% at 2.0% with a 0.7% correction in Newcastle at 2.0%.
In the Illawarra, vacancy rates rose 0.4% at 1.5% with Wollongong adding 0.1% to 1.2%.
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Across regional areas, the Northern Rivers has the lowest vacancy rate at 1.0%, down 0.1%, the South Coast dropped 0.7% at 1.4% and Albury was down 1.0 at 2.2%.
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Sydney rental market continues to tighten: REINSW

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Villa World has sold out the 81-lot land-only Riva development on Brisbane’s northside just over two years since its launch.
Villa World development manager Gary Hunter said the Joyner development benefited from a flurry of first home buyer activity as buyers looked to lock in the boosted first-home buyers grant before its expiry at the end of June.
“Riva’s success is attributed to the fact that the development has provided the market with a quality product with a modest price tag,” Hunter said.
Villa World launched the development at the end of 2015 targeting local second and third homebuyers looking to upgrade, but Hunter said the government grant had helped Riva attract a broader demographic in the past year.
Villa World recently released the second stage of Haven on Greens, further south at Griffin.
Haven on Greens comprises 66 architect-designed homes with a select range of larger home sites available.
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Villa World's Riva land development in Joyner sells out 

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Building activity data released by the ABS showed there were more newly built units completed over the December 2016 quarter than houses, the first time on-record this has occurred.
The number of new dwellings approved for construction has recently fallen from historically high levels which will over time result in fewer commencements and completions moving forward. 
The latest building activity data for the December 2016 quarter, showed that dwelling commencements and completions were actually higher over the quarter. 
Meanwhile, the number of dwellings under construction and the number of dwellings approved but awaiting commencement fell.
Over the December 2016 quarter there were 28,690 new houses that commenced construction and 27,887 new units which commenced construction. 
While new house commencements were 3.4% lower, new unit commencements increased by 3.9%. 
Since the end of 2016 there has been a substantial decline in house and unit approvals so it is reasonable to expect that dwelling commencements will follow the lead of approvals and start to trend lower over the coming quarters.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%202.58.27%20pm.jpg" target="_blank">Click to enlarge</a>
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In terms of dwelling completions, 28,102 new houses and 28,527 new units completed construction over the December 2016 quarter. 
This marked the first quarter on record that more new units had been completed than new houses. 
New house completions rose by 0.7% over the quarter while new unit completions surged 26.1% to a new record-high.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%202.58.34%20pm.jpg" target="_blank">Click to enlarge</a>
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At the end of the quarter, there were 64,332 new houses under construction and 152,635 new units under construction. 
There has been little change in the number of houses under construction over recent quarters while new unit construction remains historically high but has begun to fall. 
Interestingly when you look at the individual state data, the number of new units under construction in New South Wales is continuing to climb to new historic highs while the number under construction in Victoria and Queensland, where concerns around inner city unit supply are more pronounced, is now clearly trending lower.
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Finally if we look at the number of new houses and units approved for construction but not yet commenced, there were 9,814 houses and 29,044 units yet to start the construction phase. 
The number of new houses approved but not commenced increased by 5.0% over the quarter while the number of new units fell by 11.7% from its historic high the previous quarter.
<a href="https://www.propertyobserver.com.au/images/2017/04/18/Screen%20Shot%202017-04-18%20at%202.58.43%20pm.jpg" target="_blank">Click to enlarge</a>
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With dwelling approvals having fallen quite significantly from record high levels since December 2016 it is reasonable to expect that there will be fewer commencements going forward, particularly for units. 
Completions on the other hand could remain high for some time given that there are still many houses and units under construction. 
New house and unit completions have averaged 43,497 a quarter over the past five years, even if there were no additional new commencements based on this run-rate it would take almost five quarters for the stock to clear.
It is also important to note the fact that the number of units under construction has started to decline in Victoria and Queensland while it continues to rise in New South Wales. 
Commencements data shows that the number of starts have also fallen in Victoria and Queensland while they continue to trend higher in New South Wales. 
The pull-back in Victoria and Queensland for commencements is probably related to unit oversupply concerns in the inner city areas of the state capitals. 
In fact the rate of growth for units is already dramatically lagging that of houses in Melbourne and Brisbane while the same trends are not evident in Sydney.
It is clear that the market is responding to the heightened level of dwelling construction over recent years. 
While it appears that in most states commencements are now falling they have continued to climb in New South Wales which ultimately is positive given it is the state with the largest overall undersupply of housing.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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Newly built apartments outnumber houses for the first time on record: Cameron Kusher

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Interest-only loans account for a sizeable number of total housing credit, according to the RBA’s latest Financial Stability Review 2017.
Interest-only (IO) loans account for a sizeable and growing share of total housing credit in Australia, now representing around 23 per cent of owner-occupier lending and 64 per cent of investor lending (Graph B1)
<a href="https://www.propertyobserver.com.au/images/2017/04/19/Graph%20B1.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/2017/04/19/Graph%20B1.jpg" alt="">
IO lending has the potential to increase households’ vulnerability in part due to the higher average level of indebtedness over the life of an IO loan compared with a regular principal-and-interest (P&amp;I) loan.
Measures to address some risks associated with IO lending practices were among those taken in late 2014 by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), in conjunction with the Council of Financial Regulators, to reinforce sound housing lending practices.
While the share of IO loans in total lending approvals subsequently declined, IO loans have since started to rise again, especially for investors, which has again attracted regulator attention.
In March 2017, APRA announced new measures requiring authorised deposit-taking institutions (ADIs) to limit new IO lending to 30 per cent of total new residential mortgage lending and, within that, to tightly manage new IO loans extended at high loan-to-valuation ratios (LVRs).
This box outlines in more detail recent trends in IO lending and the nature of the potential risks that can arise from this type of lending.
For P&amp;I loans, the balance of the loan must be paid down over the entire term of the loan. In contrast, for IO loans repayments of principal are not required during the IO period, which is typically the first five to ten years of the loan.
Instead, scheduled principal repayments start at the end of the IO period, with the balance of the loan then paid off over the residual loan term.
As a consequence, for a typical 30-year P&amp;I loan of $400 000 with an interest rate of 4 per cent, borrowers would be ahead on principal repayments by around $38 000, or about 10 per cent of the initial balance, after five years compared with an IO loan (Graph B2).
<a href="https://www.propertyobserver.com.au/images/2017/04/19/Graph%20B2.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/2017/04/19/Graph%20B2.jpg" width="700" height="425">
Further, because the scheduled balance on an IO loan is always higher than on a comparable P&amp;I loan, IO loans incur a greater interest cost over the term of the loan (around 9 per cent extra in the previous example).
An IO loan can potentially also be refinanced at the end of the IO period into another IO loan, prolonging the period before scheduled principal repayments start.
Both investors and owner-occupier borrowers make extensive use of IO lending for a range of reasons.
Housing investors make the most use of IO loans.
Since interest payments on investment loans are tax deductible, the incentive to pay down a loan’s principal is reduced.
IO loans also enable investors to maintain a higher level of leverage and so magnify potential gains or losses if housing prices rise or fall.
As noted earlier, the share of owner-occupier lending that is IO has also risen noticeably over time.
This has been due to increasing numbers of owner-occupiers using IO loans and the increasing average sizes of IO loans (relative to P&amp;I loans).
Another reason borrowers may prefer IO loans to P&amp;I loans is because they can offer greater repayment flexibility.
Borrowers with lumpy income or those wanting to build buffers or save for planned expenditures, such as renovations, can use IO loans with an offset or redraw facility to minimise the effective interest costs over the period of the loan while still ensuring funds are readily available for other uses.
In particular, offset accounts and redraw facilities allow borrowers to effectively amortise loan balances during the IO period and so reduce (or eliminate) the extra interest cost associated with the higher principal balance on IO loans compared with P&amp;I loans.
However, borrowers need to be disciplined in their repayment behaviour to receive these benefits; otherwise they may incur greater interest costs, and remain more indebted for longer.
IO loans are also routinely used for bridging finance and construction loans to minimise repayments for the short duration of these loans.
For some time regulators have highlighted the potential risks associated with IO compared with P&amp;I loans.
Because IO loans allow borrowers to remain more indebted for longer, there may be greater credit risks associated with such loans.
When loan balances stay high, there is an increased risk of borrowers falling into negative equity should housing prices decline.
Another risk is that borrowers may find it difficult to service higher required payments at the end of the IO period, which increases the chance of default.
For example, repayments on a $400 000 loan with a 4 per cent interest rate and a five-year IO period would typically increase by around 60 per cent at the end of the IO period.
While some borrowers may have planned to refinance into another IO loan at the end of the IO period, this may be difficult if circumstances have changed.
Borrowers who anticipate future price rises can use IO loans to maintain a higher level of leverage for a given servicing payment, thereby magnifying their returns from rising housing prices but also magnifying any losses.
More generally, at an aggregate level this behaviour could induce a more pronounced cycle in housing prices than would otherwise occur, amplifying the size of any subsequent downswing in housing prices.
In recognition of the higher risks associated with IO loans, some lenders have introduced premiums on advertised interest rates for IO loans.
For example, the four major banks have announced, on average, an 18 basis point premium for IO owner-occupier loans and a 15 basis point premium for IO investor loans (in addition to premiums for investor loans relative to owner-occupier loans).
Lenders’ practices in assessing the ability of borrowers to repay their loans are important to manage the systemic risks posed by IO lending.
These practices determine the maximum loan size that a borrower could sustainably repay out of their income.
In particular, APRA serviceability guidance for ADIs sets out prudent practices for IO loans, with the capacity to repay assessed at the higher repayment amount required when the IO period ends (known as the residual-term method).
Under this residual-term method, borrowers seeking IO loans receive a lower maximum loan size than would be available for an equivalent P&amp;I loan.
Nonetheless, prior to the 2014 measures, some lenders assessed serviceability based on lower hypothetical P&amp;I repayments calculated from the entire term of IO loans (including the IO period; known as the full-term method).
This approach risks borrowers being unable to meet their repayment obligations when the IO period ends and higher repayments commence.
This is potentially in breach of the National Consumer Credit Protection Act 2009, which requires that lenders make loans that consumers will be able to repay without undue hardship.
ASIC has found that around 40 per cent of loans reviewed in 2014 used the full-term approach; lenders have since undertaken to change their practices in order to meet their responsible lending obligations and APRA’s guidance.
There have also been some recent reports of borrowers applying for P&amp;I loans to maximise their borrowing capacity, and then switching soon after approval to an IO loan. APRA has recently issued guidance to address this behaviour.
Find the RBA's latest Financial Stability Review 2017 <a href="https://www.rba.gov.au" target="_blank">here</a>.
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Interest-only loans account for a sizeable housing credit portion: RBA

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A luxury top-floor penthouse has surged past property price records in the Sydney suburbs of Green Square, Zetland and Waterloo this month when it sold for $3,598,650.  According to RP Data records, the highest price for a residential apartment situated in Zetland, Green Square and Waterloo was previously held by a three-bedroom penthouse at 8 Sam Sing Waterloo.
Located in the Infinity by Crown Group development, the three-bedroom apartment represents the final sale at the 401-apartment development, which is now officially sold out.  Crown Group recorded $380 million dollars in sales in one day when it first launched the project in 2015.
<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/2017/04/19/Infinity2.jpg" alt="" width="416" height="286">
The 20-storey building will feature an infinity-edge pool, spa, gym, music room, media theatre, a roof-top terrace, 30 retail outlets, restaurants and cafés; plus a conference centre to hold 450 people. Crown Group global head of sales and marketing, Julian Sedgwick, remarked that the penthouse allowed buyers to own a prestigious home in the city’s next architectural centrepiece.
“The penthouses at Infinity by Crown Group represented a chance for buyers to secure a top-tier, luxury retreat with stunning views of Sydney’s CBD,” he said. “This is a sign of strength within Sydney’s prestige property bastions.”
The 150sqm three-bedroom penthouse features custom-made, floor-to-ceiling glass windows and a spectacular rooftop terrace with panoramic views of Sydney’s CBD.
Boasting bright, naturally-lit living spaces and lavish interior finishes, the luxury penthouse included technology geared for entertainment such as multimedia touch-controlled home automation systems.
“This penthouse at Infinity by Crown Group will be arguably Green Square’s most outstanding apartment showcasing all the benefits of luxury living in Sydney,” added Crown Group sales and marketing director, Roy Marcellus.
“This record-breaking sale reflects customers’ awareness of the premium quality and exclusivity of Crown Group’s apartments. The sale of this penthouses is proof that Sydney’s luxury market is alive and well,” he said.
Additionally, Crown Group has now sold all four level-27 penthouse apartments in its $250-million Arc by Crown Group, which is under-construction in Sydney’s CBD. The $575-million development is located on the corner of Bourke Street and Botany Road and scheduled for completion in 2019.
The next project in the works is the recently Waterfall by Crown Group, located less than 1km from the now sold-out Green Square development, will be launched for sale in June this year.
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Green Square Infinity penthouse smashes suburb price record 

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An opportunity to acquire a piece of the Mornington Peninsula at Moorooduc is now available with low $3 million expectations.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-moorooduc-502351422" target="_blank">895 Moorooduc Highway</a> offering has a land size of 15 hectares with Green Wedge zoning on the corner of the Mornington-Tyabb Road. 
The Melbourne CBD is an hour’s drive away accessible via the Peninsula Link Freeway.
The listing comes after the recent sale of the <a href="https://www.realestate.com.au/sold/property-acreage+semi-rural-vic-moorooduc-122278674" target="_blank">Barmah Park Vineyard Cafe holding</a>, with the four hectare holding listed with $2.35 million hopes.
Existing improvements on the 15 ha land comprise a brick veneer dwelling along with sheds, water tanks and extensive fencing.
It is set among the Barak Estate Winery, Mornington Yatch Club and Racecourse, Bentons Square Shopping Centre and the main street Mornington retail area.
Expressions of interest close May 3 through CBRE agent Nathan Mufale.
He said 895 Moorooduc Highway is benefiting from the recently completed Peninsula Link Freeway, an untolled 27km arterial route.
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